AvaTrade Broker Review

9.7 / 10 Reviewer
Support10
Product Range9
Trading Tools and Education10

AvaTrade is an online forex broker that was established back in 2006 and based in Dublin, Ireland with offices also in Shanghai, Sydney, Milan, Tokyo, New York, Nigeria, Paris and South Africa. Read on to find out more about this broker in our review below.

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Regulation

Ava Trade regulation is done by the Central Bank of Ireland (serial no. C53877), Japan’s Financial Services Agency(FSA) and Financial Futures Association(FFA), Australian Securities and Investments Commission (ASIC serial no. 406684), South African Financial Services Board (FSB serial no. 445984).

AvaTrade Broker Review

AvaTrade Account Types

AvaTrade has come up with different types of accounts to suit the traders’ needs. They are the demo, real and Islamic accounts.

  • Demo Account. This facilitates traders who are learning on how to trade forex and also for traders who are testing different strategies. It has no risk and traders are given virtual capital to invest with.
  • Real Account. This account is whereby a trader invests their real money for trading currencies. Leverage is 400:1 and traders are required to deposit a minimum of $100. The account also has fixed and floating spreads.
  • Islamic Account. This account is for Islamic investors and it abides by the financial principles of Sharia law.

Trading Platforms

AvaTrade has provided different trading platforms for its traders to choose from. They include;

  • Metatrader 4 – One of the most popular trading platforms in the world that facilitates trading. It is reliable in that it has different resources for traders to choose from.
  • AvaOptions – A platform that facilitates the trading of fx options. It supports over 40 forex pairs, gold, and silver.
  • AvaTradeGO/Mobile trading – An platform that enables traders to enter and exit the markets and performs just as well as MetaTrader 4.
  • Web trading – This is a web-based version of MetaTrader 4 that facilitates trading.
  • Automated Trading – A platform that allows traders to copy trades and strategies of successful forex traders. AvaTrade uses ZuluTrade to facilitate automated trading.
  • Mac trading – Metatrader 4 platform on Mac.

Trading Instruments

Avatrade facilitates the trading of the following instruments;

  • Forex Pairs
  • Contract for Difference (CFDs) – indices, bonds, exchange-traded funds (ETFs), stocks and commodities
  • Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Litecoin, and Ripple
  • FX Options

AvaTrade Deposit and Withdrawal Options

In AvaTrade, traders can either deposit or withdraw cash using Visa, Visa Electron, Visa Debit, Master Card, JCB, WebMoney, Skrill, Neteller and Wire Transfer.

Customer Support

Customer service is open 24 hours during the weekdays. You can contact Avatrade through e-mails, phone calls, and live chats. Avatrade also supports different languages such as English, German, French, Hungarian, Arabic, Spanish, Russian, Portuguese, Japanese, and Swedish among others.

Pros

  • Excellent multilingual customer service
  • A variety of trading platforms to choose from
  • Has both fixed and floating spreads
  • Availability of education resources

Cons

  • Withdrawals are not as quick as competitors
  • Few account type choices

Conclusion

AvaTrade has been proven to be a reliable Forex broker considering the awards it has won and its presence in the industry since 2006. They have a good choice of platforms and resources for education. AvaTrade caters well for both novice and experienced traders and traders should consider seeking services from this broker.

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