AvaTrade Review
Why AvaTrade Doesn’t Suck In 50 Words
Apart from the solid regulation outlined below, AvaTrade offers something for everyone: Meta Trader 4 and 5 for technical analysts and advanced traders, as well as a proprietary platform that’s a lot more user-friendly but scales down on some technical analysis features. Other than that, clients can use Autochartist (for chart pattern recognition) and automated trading (via DupliTrade and ZuluTrade). This is truly a complex broker, with something for everyone.
Why AvaTrade Sucks In 50 Words
This broker ticks almost all boxes, but unfortunately, United States residents are not accepted as AvaTrade clients. This is nit-picking, but it’s about the only downside we can find with this broker.
Is AvaTrade A Scam?
There is absolutely no way that we can consider this broker a scam. This is a heavily regulated and licensed investment firm that has been in business for more than a decade and enjoys a positive reputation among traders. That being said, you still have to be careful whenever money is involved and you need to read and understand their Terms & Conditions because if you unknowingly violate some of their rules, you cannot complain afterward (and this applies to all brokers, not only AvaTrade).
Should I Open An Account With AvaTrade?
AvaTrade is a well-known FX and CFD broker, with global regulation and a positive reputation overall. They were launched back in 2006, so we can safely say that AvaTrade is a long-timer, a fact that increases their trust score. Adding to that, all Ava Group subsidiaries are regulated in their respective jurisdictions:
• AVA Trade EU Ltd – regulated by the Central Bank of Ireland, Reference No. C53877 and EEA Authorised by the British Financial Conduct Authority (FCA) – reference number 504072
• Ava Capital Markets Australia Pty Ltd – licensed by the Australian Securities and Investments Commission (ASIC) – ABN 72 143 340 907
• Ava Trade Markets Ltd – regulated by the British Virgin Islands Financial Services Commission (FSC)
• Ava Trade Japan K.K. – licensed in Japan by the Financial Services Agency (FSA) license number 1662 and by the Financial Futures Association of Japan
• Ava Capital Markets Pty Ltd – licensed by the South African Financial Sector Conduct Authority (FSCA) under license 45984
If you are looking for a reliable FX and CFD broker, then AvaTrade might be the right choice because, as mentioned before, they tick all boxes, starting from platform to regulation to trading conditions and deposit/withdrawal procedures.
Medium to advanced traders can use Meta Trader 4 or Meta Trader 5, both of which are widely considered among the best charting packages in existence. Highly customizable, these platforms allow automated trading through Expert Advisors (EAs) and have complex technical analysis features. For users who are not as versed in the intricacies of Meta Trader, AvaTrade offers a proprietary platform (WebTrader) that is a lot more newbie-friendly.
The minimum deposit is 100 USD, which is on the low side, considering that most brokers require a 200 USD deposit. Clients from the United Kingdom have the option to open a Spread Betting account, which is exempt from paying taxes on profits, and Demo accounts are freely available to all clients. Islamic accounts are also available, which comply with Sharia Law.
The education section is comprehensive, with content about all asset classes available for trading at AvaTrade, but also a blog, training for beginners, and a trading academy for more advanced traders.
All in all, AvaTrade offers a complete package, with a great choice of trading platforms, good education material, average to low deposits, and more importantly, air-tight regulation. In other words, if you are looking for a new FX/CFD broker, AvaTrade is a solid choice.
AVA Trade EU Ltd has a registered address at AvaTrade Financial Centre, Five Lamps Place, Amiens Street, Dublin 1, Ireland.
Ava Capital Markets Pty Ltd lists the address: Ground Floor, 320 Pitt Street, Sydney NSW 2000, Australia. Ava Trade Markets Ltd. has an office at Kingston Chambers, PO Box 173, Road Town, Tortola British Virgin Islands.
Ava Trade Japan K.K. is located at Minatoku Akasaka 2-18-1, Akasaka Hillside Building (4th Floor), Tokyo, Japan. Ava Capital Markets Pty Ltd lists the address: No. 70 Grayston Drive, 2nd Floor, Sandton, Johannesburg, South Africa, 2196.
AvaTrade Complaints
Locating complaints regarding AvaTrade wasn’t hard at all (most brokers have complaints) but some of those complaints were unfounded in our opinion. For example, a client complained against AvaTrade because he/she used a third-party EA which wiped out the trading account. Furthermore, the client proceeded to call this situation interfering with his trading from AvaTrade’s part. Using an EA you got from some website doesn’t mean the broker where you are using it is a scam! So, yea, take everything with a pinch of salt.
AvaTrade Withdrawal
The withdrawal methods are cards, wire transfers, and depending on your location, e-wallets such as Skrill, Neteller, WebMoney, etc. They don’t specify a minimum sum for withdrawal and the processing time is usually one business day. After processing, more time will have to pass for the funds to appear in the client’s account: e-wallets – 1 business day; cards – up to 5 business days; wire transfers – up to 7 business days.
AvaTrade Extras
Apart from Autochartist and automated trading, AvaTrade offers FX Options available to trade on their proprietary platform. However, these are not binary options, but European style, Vanilla Options, which are more complicated than binary mostly because variables such as The Greeks come into play (Delta, Gamma, etc.). Just make sure you understand how it works before investing money on Options.
AvaTrade Overall Ratings
User Friendliness 16/20
The website is translated in 29 languages, which is a lot but information can be a bit hard to find, at least until you get the hang of it. The platform choice is very good: MT 4 and 5, proprietary (no download or installation) and mobile (AvaTradeGo). US traders are not accepted; demo accounts are available.
Range Of Markets, Spread And Leverage 17/20
AvaTrade offers over 600 stocks to trade as CFDs, more than 50 currency pairs, 20 indices, 17 commodities, and 13 cryptocurrency pairs (Bitcoin, Litecoin, Ethereum, etc.). The spreads are around 1 pip for EUR/USD under normal conditions, which is very good (the spreads for the other assets are low as well). Leverage goes up to 1:30 for clients registered with the EU branch (due to ESMA regulations) but goes up to 1:400 for clients of Ava Trade Ltd (British Virgin Islands).
Fees And Support 16/20
AvaTrade doesn’t charge any fees for depositing and withdrawing money but the payment processor (bank, e-wallet provider, etc.) may deduct a fee; to find out what that is, you will have to contact the payment processor. After an inactivity period of 3 months, the account may be charged a 50 USD/GBP/EUR inactivity fee. Every successive inactivity period, the account will be charged again the same fee. After 12 months of inactivity, the account may be charged an Annual Administration fee of 100 USD/GBP/EUR.
Deposits And Withdrawals 15/20
The methods for deposits and withdrawals are the usual: cards, wire transfers, and e-wallets (Skrill, Neteller, WebMoney – these may vary depending on the client’s location). Processing times are fast (1 business day) and the minimum sums are fair. Please note that depending on the method used, additional time will pass until the funds will reach you.
AvaTrade Extras 15/20
Autochartist, automated trading, cryptocurrency trading, and Vanilla Options trading via a separate, proprietary platform (AvaOptions).
AvaTrade Ratings (79) + Regulated (+3) = 82/100