It is challenging identifying the best forex brokers from the rest given the ever-increasing number of forex brokers advertising online today. The following AvaTrade review will shed light on everything you need to know about AvaTrade allowing you to make an informed decision.
Our AvaTrade Review
AvaTrade was founded more than ten years ago (in 2006). It is one of the oldest most-popular forex brokerages today. The company that operates the AvaTrade forex brands, AVA Financial Ltd, is headquartered in Ireland. The company has operations in many other countries globally.
AVA Financial Ltd has European Union regulatory approval (from the MiFID). This simply means AvaTrade is approved to offer forex trading services in all European Union countries. The broker is also regulated by the ASIC (Australian Securities & Investment Commission) as well as by the Financial Futures Association and Financial Services Agency in Japan. Most importantly, Ava Financial Ltd also has BVISC British Virgin Islands regulatory approval which allows AvaTrade to offer services in almost all countries globally.
AvaTrade has several trading platforms. The first one is AvaTrader, a proprietary trading platform that is downloadable from the official site (www.avatrade.com). AvaTrader is highly customizable, user-friendly and universally compatible with multiple operating systems. AvaTrade also has AvaJava, a web-based trading version of AvaTrader. AvaTrade has AvaMT4 as well, an MT4 platform introduced recently. MT4 is among the most popular forex trading platforms globally.
Clients also have access to autotrading platforms with Currensee and Zulutrade and mobile trading applications for Andriod and Apple devices such as iPhones and iPads. AvaTrade also has a Windows mobile platform.
Accounts and special features
We can’t offer a conclusive AvaTrade review without covering the account types. AvaTrade offers two main accounts like most forex brokers namely; demo and live accounts. You have the opportunity to practice trading risk-free with AvaTrade demo accounts. Live accounts can be opened with as little as $100.
New live account traders enjoy first-time bonuses that vary depending on the deposit amount. The brokerage is one of the few that offers welcome bonuses amounting to 100% if clients meet specific criteria i.e., deposit a certain amount. AvaTrade clients also enjoy seasonal bonuses for periods such as Easter and Christmas. The broker also offers volatility bonuses to help traders enjoy the benefits brought about by special periods marked by high volatility.
AvaTrade offers autotrading on the Zulutrade platform or Currensee system. The brokerage has an autotrade feature dubbed mirror trader which allows traders to mirror (copy) successful trades placed by other good traders. Mirror Trader has a robust social interactivity component that makes trading fun and easy.
Interactivity aside, AvaTrade also has an educational center packed with all the information you need to be a successful trader. The brokerage has educational resources that are handy for both novice and seasoned traders. You also get access to live audio commentary offering fundamental and technical analysis as well as real-time chart analysis.
AvaTrade also has one of the best affiliate marketing reward systems that offers traders an opportunity to form profitable partnerships with AvaTrade. You can earn money recommending AvaTrade to others or promoting the brokerage in many other ways. Affiliate payments are made through the AvaPartner system.
AvaTrade is also among the few forex brokerages that offer multilingual services. The broker’s platforms and support services are available in English, Arabic, Chinese, French, Italian, German, Japanese, Russian, Portuguese, Swedish, Spanish, Serbian, Turkish, Hungarian and Finish among other languages.
AvaTrade is also among the few popular forex brokerages offering cryptocurrency trading services. You can buy/sell popular Cryptocurrencies such as Bitcoin. Cryptocurrencies are arguably the most popular currencies today. Besides trading 250+ financial instruments offered by AvaTrade, you have an opportunity to benefit from the extremely lucrative crypto market.
Deposits & withdrawals
AvaTrade clients can deposit funds through multiple channels i.e., through bank wire transfers and credit cards to E-wallets like PayPal, Neteller, and WebMoney.
You can open a live AvaTrade account with 100 dollars/Euros and place trade sizes as small as 0.05 lots. AvaTrade has no restrictions on deposit and withdrawal amounts. You can deposit/withdraw as much as you want. Furthermore, there are no deposit/withdrawal fees.
Leverage can be adjusted accordingly from the 1:200 default setting.
You can contact AvaTrade anytime, day and night, during weekdays via the live chat facility, email (firstname.lastname@example.org) or phone +1 212 941 9609.
Why should you trade with AvaTrade?
From the above AvaTrade review, the broker is clearly unmatched in many aspects. First and foremost, AvaTrade is licensed and regulated by multiple regulatory bodies globally which means the broker observes the highest regulatory standards globally. Regulation is an important consideration when choosing a forex broker because it ensures you are working with a company that is licensed and highly professional. This reduces instances of fraud and privacy concerns among other problems common in the forex trading industry.
AvaTrade also has more experience than most brokerages today. The broker has been tested and proven for more than a decade. AvaTrade has gone through all the stages a forex broker must go through to be dubbed reputable. The brokerage boasts of 200,000+ satisfied clients worldwide currently who execute over two million trades monthly which translates to a trading volume of over $60 billion monthly.
AvaTrade also has a great customer support service with a physical presence in more than 34 countries. Traders can access support services 24-hours daily on weekdays. Support services are also available in multiple languages.
The variety of trading instruments available also stands out. You can trade over 250 financial instruments including commodities, CFDs, and Cryptocurrencies like Bitcoin. AvaTrade is a one-stop broker capable of satisfying all your trading needs. The broker also has higher security standard. For instance, trader funds are held in segregated accounts to offer added security.
The brokerage has also done everything possible to ensure traders win. All traders have access to a variety of free trading resources ranging from free daily analysis updates to webinars, online courses, and eBooks. Unlike most brokerages, AvaTrade doesn’t encourage traders to place multiple trades aimlessly for the purpose of maximizing commission earnings. The broker has gone out of the way to ensure traders are adequately equipped to place winning trades.
AvaTrade review verdict: Highly recommended