AvaTrade is a licensed provider of MetaTrader 4 and MetaTrader 5 for desktop, tablet, mobile, and web-based tradings. The broker also includes AvaOptions, AvaTraderGO, and WebTrader platforms.
More than 1250 trading instruments including forex, stocks, cryptocurrencies, commodities, government bonds, and indices.
The broker engages well-trained customer care agents who offer 24/5 support through online chat, email, and phone.
AvaTrade has more than 15 years of proven experience as an online broker in financial markets. It is regulated by the Central Bank of Ireland, ASIC, FSC, FSA, and more.
Clients can only deposit in 3 currencies – EUR, USD and GBP.
US-based traders do not benefit from negative balance protection
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AvaTrade is regulated by the Central Bank of Ireland (CBI) in the EU, Australian Securities & Investments Commission (ASIC) in Australia, Financial Services Commission (FSA) in the British Virgin Islands, and Financial Services Agency (FSA) in Japan.
Furthermore, AvaTrade uses a 256-bit SSL encryption and embedded True-Site identity assurance seal to secure its client’s information. The broker also uses McAfee Secure (HackerSafe) to prevent credit card frauds and identity thefts. Besides, Avatrade keeps all the money deposited by clients in a segregated account, separate from the broker’s business funds.
AvaTrade uses Metatrader 4 (MT4), Metatrader 5 (MT5), Web Trading, AvaTradeGo,and AvaOptions as trading platforms. Both MT4 and MT5 are compatible with Windows and Mac operating systems. They allow traders to access the market from both desktop and mobile devices.
Web Trading is another popular trading platform that allows traders to access the market from web browsers. AvaTrade web trading platform provides a user-friendly interface and includes advanced technical tools for chart analysis.
The broker has developed the AvaOptions platform for options traders. This platform comes with interesting features like the “Risk Management Tool” that enhances your trading caliber and helps to gain control over your portfolios.
AvaTrade offers a wide range of deposit options including Wire transfer, Credit cards, and e-Payments. However, the e-Payment option is not available for EU and Australian clients. Besides, the broker uses 5 different base currencies which makes funding trading accounts more convenient for its global clients.
The minimum deposit limit is $100. Credit card deposits are processed instantly. However, if you are using a wire transfer, it may take up to 7 business days to process the deposit. For e-payments, AvaTrade credits the funds to the trading account within 24 hours.
Avatrade offers several trading tools that span from risk management to market news. For instance, Guardian Angel is a noteworthy one. It is essentially a risk management tool that learns from your past actions and provides feedback to help you become a better trader. Avatrade also allows Expert Advisors on MT4 and MT5, while also encouraging traders to make use of a VPS that ensures better execution. In addition, AvaTrade provides a tool called AvaProtect, which is a unique feature that protects trades from losses on certain instruments.
AvaTrade offers three types of trading accounts:
Spreads from 0.9 pips and zero-commission trading. The broker restricts the leverage for EU clients with retail accounts to 1:30. For non-EU clients, AvaTrade allows leverage of up to 1:400.
Tighter and fixed spreads plus trading without commissions. All professional account holders enjoy leverage up to 1:400 on forex instruments. However, the broker applies certain requirements to be eligible for opening a professional account.
The Islamic Account has been created for Muslim clients who follow the principles of Shariah law. As a result, Islamic account users are exempted from swap or rollover fees.
In terms of spreads, AvaTrade’s main competitors are FXPro, Vantage, Pepperstone, Forex.com, and XM. Since the broker doesn’t apply trading commissions, the crossing between ask and bid spreads is the main source of its revenue.
AvaTrade professional account holders enjoy a tighter spread than retail account users. On top of account types, the spread varies depending on the type or class of the trading asset.
The average GBPUSD spread in AvaTrade is 1.6 pips. This is higher than Pepperstone (0.75 pips) and Vantage (1.4 pips) but far better than Forex.com and XM.
Avatrade’s Gold spread sits between 3 and 4 pips, making it less competitive than other brokers. If we are to compare its offering on EURUSD, Avatrade’s Gold spread is still far from the more expensive brokers.
AvaTrade offers 24/5 customer support in 15 different languages via phone, live chat, and e-mail. However, the response time through email and live chat may take a bit longer than usual due to a high number of queries from new traders. Alternatively, you may contact the customer support team through phone calls for instant answers to your questions. Besides international contacts, the broker also provides local phone numbers of Europe, the Middle East, Asia, Africa, and South American countries.
This review of AvaTrade highlights it is one of the most experienced online brokers in global markets. The broker is regulated by financial governing bodies of several countries from the EU, Africa, Asia, and the Middle East. Besides, they offer multiple account types and trading platforms with zero-trading commissions to make online trading more convenient for both beginners and experienced professionals.
Furthermore, AvaTrade offers over 1250 trading assets for its clients which include all types of forex instruments, stocks, commodities, indices, and Cryptocurrencies. Also, the broker uses several payment methods and five different base currencies that keep the deposit/withdrawal process smooth. To conclude, it provides numerous trading tools including market analysis, economic calendar, and risk management tools for its clients.
The main drawbacks are AvaTrade doesn’t accept US clients and charges a high inactivity fee. As a result, this can be a concerning issue for irregular traders.