Avatrade

4.2/5

AvaTrade was originally founded in Dublin, Ireland as AvaFX in 2006. It has since expanded globally with offices in major cities around the world to include Milan, Nigeria, Paris, Shanghai, South Africa, Sydney, Tokyo and Ulaanbaatar in Mongolia. It now serves over 200,000 client accounts, with monthly volume exceeding an average of 2 million transactions. AvaTrade was one of the first forex brokers to introduce CFD trading on commodities, indices and stocks. It also lead the way in introducing cryptocurrency trading.

AvaTrade operates under the oversight of several reputable regulatory bodies including the Central Bank of Ireland (Reference No: C53877), the Australian Securities & Investments Commission (ASIC), and the Financial Services Commission (British Virgin Islands), the Financial Services Agency of Japan, the Financial Futures Association of Japan, and the Commodities Futures Association of Japan.

Markets Offered

AvaTrade offers its clients 250+ instruments to trade including forex, cryptocurrencies, and CFDs on commodities, equities, Exchange Traded Funds (ETFs), bonds, and market indices. Below is a list of instruments available for trading at AvaTrade.

Tradable Instruments

Asset class Number of instruments Spreads from Margins from  Leverage Upto
Forex 50+ 1.3 pips 25% 400:1
Indices 19+ .1 over mkt. .5% 200:1
Commodities 17+ .03 pts 1% 200:1
Stock CFDs 100+ .13 5% 20:1
ETF CFDs 5+ .13% .05% 20:1
Bonds 5+ .03 over mkt. 5% 20:1
Options 42+ 7.5 pips 1% 100:1
Cryptocurrencies 10 .01% over mkt. 4% 25:1

Account Types

AvaTrade offers its retail clients a standard trading account. For its professional traders that manage several trading accounts for their clients, it offers a Multi-Account Manager (MAM) account. Below is a list of details and features for the two types of accounts.

Account TypeStandardMAM
ScalpingYesYes
HedgingYesYes
Demo accountYesYes
Micro accountYesYes
Standard accountYesNo
Zero spread accountNoNo
VIP accountNoYes
Managed accountYesNo
Islamic accountYesYes
Min trade0.01 lot0.01 lot
Max trade100 lots100 lots
Min deposit$100$100
Neg. Balance ProtectionYesYes
Automated TradingYesYes
Account SetupFreeFree
Multiple AccountsNoYes
Ability to create multiple sub trading groupsNoYes
Multiple allocation parametersNoYes
Order placements for unlimited client accountsNoYes
Trade order placements from a master accountNoYes

Avatrade charges its client for holding trades beyond the close of a trading day into the next day. These costs vary depending on the instrument and the type of position (i.e. long or short) being held overnight, and in some cases may result in a credit instead of a charge. There are inactivity fees after 1 year of inactivity in an account, and account withdrawals above $100 are free. All retail Client Money is held in segregated client bank accounts, and Islamic accounts are available. There is a required minimum account balance of $100.

Funding an account can be accomplished via bank transfer, e-wallets, or credit card including MasterCard, Visa, Neteller, and Skrill. Cards and bank transfer payments are free of charge. E-Wallets like Neteller and Skrill charge a transaction fee charge. The minimum deposit is $100 dollars and varies depending on the currency used. Avatrade processes deposits within 1 to 10 days depending on the type of deposit. Withdrawals are typically processed and sent within 1 to 2 business days. Once the withdrawal is processed, it may take up to 10 business days depending on the method of payment used.

Opening an account is usually completed within 1 to 3-business days. Documents required are a valid ID (i.e. passport, driver’s license, or national ID), and proof of address (i.e. bank statement, utility bill, or tax invoice dated within the last three months and issued to your name and address). Avatrade does not accept clients from the following countries: USA, Belgium, and Cuba.

Web & Desktop Trading Platforms

AvaTrade offers its clients multiple trading platform to trade with including their proprietary platform AvaTradeGo and MetaTrader4 (MT4). AvaTradeGO is a very straight forward easy to use trading platform which traders can trade on the web, or on a mobile device. The platform allows traders to follow market trends, monitor social trends from the AvaTrade vibrant trader’s community. To help traders make better and more accurate decisions all trading instruments are connected to show insights, and what other traders are buying & selling, trading behaviour, and visuals with up-to-date info. Traders can see their trades at a glance, create their own watch lists, and view live prices and charts. Trade more than 250 instruments including the world’s top forex pairs, commodities, stocks, cryptocurrencies and more.

MT4 is a very widely used platform by the forex trading community. It has features and trading tools that accommodate every level of traders from a beginner that is learning the basics, to advanced traders that programs, back-tests, and implements sophisticated algorithmic trading systems. MT4 includes 80+ indicators, nine time-frames, 3 chart layouts, mobile trading, and 37 language options. It also allows for the use of expert advisors for automated strategies, and its MQL4 programming language allow advanced traders to program their own custom strategies.

AvaTrade MetaTrader4 (MT4) Screen Shot

Traders can also choose from a variety of automated trading platforms that allow traders to copy or mirror the trades made by their more experienced traders, and take advantage of trading signal services and social media trading communities.

 

Platform FeatureMT4AvaTradeGO
Stop loss OrdersYesYes
Limit ordersYesYes
One-click tradingYesYes
Trailing stopsYesYes
Expert advisors (EAs)YesNo
Virtual private serverNoNo
Direct market accessYesYes
STP brokerYesYes
ECN brokerNoNo
Market makerYesYes
Price alertsYesYes
Signal tradingYesNo
WatchlistsYesYes
Charting toolsYesYes
iOS  AppYesYes
Android AppYesYes
Windows  AppYesYes

Education

AvaTrade has an extensive educational section on its website that is available to the public. More extensive educational materials are available for clients keep improving your trading skills and learning new concepts with exclusive free videos, articles, e-books and daily market analysis. AvaTrade also conduct a series of webinars in several languages. The webinars are geared to all level of traders – from beginner to expert.

Customer Service

AvaTrade’s award-winning support team is available by phone, email and live chat. It provides its clients with customer service representatives that are available 24/5 in 14 languages, ready to assist with any trading issue. For traders that make a first deposit of $1,000 or more, a dedicated Account Manager is assigned to guide them through their first trades, and teach them how to use our trading platforms and inform them on all market matters. The customer support online is available in several international languages including Arabic, English, Finnish, French, German, Hungarian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, and Swedish.

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Pros

  • Regulated in the EU, BVI, South Africa, Japan, and Australia. They have offices in 11 countries and have been a FOREX broker since 2006 (as AvaFX)
  • Offers floating spreads on most major currency pairs. It also offers a special account for traders who have an account balance in excess of $100,000 (or equivalent in EUR, GBP or AUD), and trade more than 1000 standard lots per quarter.
  • Doesn’t charge commissions, it makes money from the spreads. Many traders prefer this.
  • Offer multiple trading platform
  • Multilingual customer support

Cons

  • Mobile app has been reported to be buggy on some devices.
Platforms : AvaTradeGo, MT4, web trading platform
    • Fixed spreads

    • Variable spreads

    • Stop losses

    • Limit orders

    • One-click trading

    • Trailing stops

    • Expert advisors (EAs)

    • Virtual private server

    • Direct market access

    • STP broker

    • ECN broker

    • Market maker

    • Price alerts

    • Signal trading

    • Watchlists

    • Charting tools

    • iOS App

    • Android App

    • Windows App

  • Major Stock markets (US UK Germany)

  • Indices

  • Penny stocks

  • Forex

  • Majors

  • ETF

  • CFDs

  • Bitcoin

  • Commodities

  • ETFs

  • IPO

  • Options

  • Futures

  • Bonds

  • Hong Kong stocks

  • Japanese stocks

  • Listed on Stock Exchange

  • Scalping

  • Hedging

  • Demo account

  • Islamic account

  • Micro account

  • Standard account

  • VIP account

  • Zero spread account

  • Managed account

  • Credit cards

  • Bank transfer

  • PayPal

  • Neteller

  • Skrill

  • Electronic wallets