AvaTrade Review based on Experience

AvaTrade user-ratings: $100
  • Asset varierity - 0/10
    0/10
  • Trading platform - 0/10
    0/10
  • Support - 0/10
    0/10
  • Fees - 0/10
    0/10
  • Deposit/Withdrawal - 0/10
    0/10

Facts about the company:

  • Type: Forex, CFDs, Cryptocurrencies
  • Regulation: FSCA (US), Central Bank of Ireland (UK), FSA (Japan, ASIC(Australia) and many more
  • Minimum deposit: $100
  • Demo account: Free
  • Markets: 1000+ Forex, CFD, Cryptocurrencies, ETFs, Stocks, Bonds, Commodities, Indices
9.6/10
Comments Rating 9.6/10 (1 review)

Pros

  • Trading Cryptos and CFDs is possible 24/7
  • Spreads from 0,9 pips 
  • 24/7 live customer service in 15 languages
  • An array of trading software options 
  • Ultra-low spreads 
  • 1000+ assets

Cons

About AvaTrade

AvaTrade is an online broker that specializes primarily in Forex trading instruments and CFDs. Customers can trade in many different markets (currencies, commodities, indices, stocks, ETF, Bitcoin, etc.) through this provider. The head office of the company is located in Dublin, the capital of Ireland.

AvaTrade’s stated mission is to “enable people to trade with confidence”. Currently, around 200,000 customers worldwide trade through the Irish online broker, with a monthly trading volume of 2 million trades.

Screenshot of the AvaTrade Website

The History of AvaTrade

Originally, the online broker was founded under the name Ava FX by Emanuel Kronitz, Negev Nosatzki, and Call Finance, who set out to create a forex broker with optimized customer support. In 2013, the company’s name was changed to AvaTrade, while at the same time many new financial instruments were integrated. In addition to foreign exchange, it was now possible to trade stocks, indices, commodities, and bonds.


In addition to the main office in Dublin, there are now a number of other branches of the online broker AvaTrade, which are spread around the world. At the moment there are further offices in Australia, Chile, China, Italy, Japan, Mexico, South Africa, and Mongolia.

Facts about the history:

  • since 2013, the online Broker is named AvaTrade
  • it all started in Dublin, Ireland
  • AvaTrade has branches worldwide

Regulation and Licensing of AvaTrade

When looking for a suitable online broker, you should always consider whether the broker is regulated by the relevant tax authorities. As AvaTrade is represented around the world, it is regulated by many different authorities. AVA Trade EU Ltd., the main branch responsible for German customers, is regulated by the Central Bank of Ireland.

Regulation of AvaTrade

The provider is also MiFID compliant. MiFID is a uniform regulatory system for investment services within the European Economic Area. This ensures the transparency of the company and the appropriate protection of customer deposits.

Previous awards of the Online Broker

Since its foundation, the Online Broker has already been awarded several times for certain services. However, to mention all awards would go beyond the scope of this article. Therefore, only a few current awards will be listed below. If you are interested in more details, you can view them in full on the AvaTrade website at any time.

Previous awards

Awards by The European from 2014 to 2020 as

  • Worldwide most regulated broker
  • Best Forex Broker
  • Best Bitcoin CFD Trading Provider of the Year
  • Best Affiliate Program
  • Award by International Business Magazine as “Probably the most innovative online broker” in 2019
  • Award of daytrading.com as “Best Forex Broker” also in 2019

Deposit and withdrawal at AvaTrade

At this point, we would like to give you a brief insight into the possibilities of deposits and withdrawals at AvaTrade. The Online Broker offers its customers basically two different ways of deposits.

On the one hand, there is the possibility to top up their live account with credit using a classic bank transfer. The other option to deposit money is by credit card. However, electronic payment methods such as Skrill, Neteller, and Webmoney cannot be used by customers from the EU or Australia.

Depending on the selected deposit method, the minimum deposit amount is set accordingly. If you deposit by bank transfer, the minimum deposit amount is $500. Paying by credit card, the minimum deposit is only $100.

For the payout, AvaTrade requires you to fill out a form online, which you will find in your customer account. The payout then usually takes one to two working days.

Which tradable instruments are offered at AvaTrade?

The various trading instruments also play an important role in the search for an online broker. In principle, AvaTrade has specialized in three different tradable instruments: Forex trading, CFD trading and trading in government bonds.

Forex Trading

Forex
First of all, the online broker enables its clients to trade on the most liquid market in the world – the foreign exchange market. With over 60 currency pairs in its trading portfolio, AvaTrade is relatively broad in this respect and can offer its traders a variety of different currencies to trade.

Higher positions can be traded with leverage of up to 1:30. In addition to major currency pairs, AvaTrade also offers both minor and exotic currency pairs.

CFD Trading

CFD Trading
As one of the first CFD brokers in the market, AvaTrade provides its customers with a variety of different underlying assets (commodities, indices, stocks, foreign exchange, ETFs and government bonds) that can be traded as CFDs.

Leverage of up to 1:30 is also available. Possible exchange or management fees do not accrue with this online broker, the spreads are competitive.

Trading with cryptocurrencies

Crypto Currencies
Finally, the online broker also offers trading with cryptocurrencies on its platforms. The offer in this area currently includes 12 different cryptocurrencies, including popular digital currencies such as Bitcoin, Ethereum, and Ripple. Here too, trading is possible with a leverage of up to 1:30.

What trading platforms are available at AvaTrade?

Next, we will take a quick look at the trading platforms available at AvaTrade. The Online Broker is relatively broad in this respect and offers its customers a number of different alternatives, which will be briefly introduced below.

AvaTradeGO

AvaTradeGo

With AvaTradeGO, the provider has an in-house trading platform that is also accessible via Android and Apple. The user interface is clearly structured and displays individually selected watch lists as well as live quotes and charts.

In addition, it is possible to hedge positions over a protected period of time using AvaProtect™. Within the platform, all tools are connected with each other, and social trading also provides information about current trends and trading activities of other investors.

MetaTrader 4 and 5

AvaTrade MT4 and MT5

Like many other online brokers, AvaTrade offers the MetaTrader 4 and MetaTrader 5 platforms, which are among the most powerful and popular trading platforms worldwide. These platforms are known for their clarity, ease of use, and numerous useful features.

MetaTrader 5 offers as many as 38 technical indicators of trends and an unlimited number of charts.

With the help of Expert Advisors, trading strategies can be automatically applied to the foreign exchange market via programmed scripts.

web trading

In addition to the aforementioned trading platforms, there is also the possibility to use the classic WebTrader. This platform is primarily suitable for beginners in the trading area. Trading via the WebTrader is uncomplicated and simple, which is, among other things, due to the easy-to-use user interface and the modern design.

For more complex chart displays and more extensive functions, however, the aforementioned platforms are usually better suited.

AvaOptions

AvaTradeOptions

AvaTrade has a dedicated platform specifically designed for options trading called AvaOptions. It is primarily intended for traders with a certain level of experience and offers a wide range of different functions and analysis tools. AvaOptions can also be used on both Apple and Android mobile devices.

What order types are available on AvaTrade

Interesting in the search for a suitable online broker is also the different order types. At AvaTrade there are limit & stop orders as well as the option of extended orders and market orders.

Limit & Stop Orders
In order to better control risk, AvaTrade offers the possibility of Limit & Stop Orders. More specifically, the following orders are among those available for selection in this context: Buy Limit Order, Sell Limit Order, Buy Stop Order, Sell Stop Order, Take Profit Order, Stop Loss Order, Trailing Stop Order

Advanced Orders
In addition, AvaTrade also allows for extended orders to be placed. This includes in particular the order type One Cancels The Other Orders (OCO). This type of order combines two orders. If one of them is executed, it will result in the cancellation of the other one, so that it can be permanently granted that only one order is executed.

Market Orders
Market orders are also available from the online broker. This type of order enables the immediate opening of a position, which is currently being offered on the market at the corresponding current time.

The trading conditions of the Online Broker

The conditions offered by an online broker are also decisive in the evaluation of an online broker. For this reason, we would like to take a look at AvaTrade’s trading fees at this point.

Within the range of the foreign exchange, there are at present around 60 currency pairs in the offer, which can be traded with spreads starting from already 0.8 pips. For example, the spread for EUR/USD is currently 0.9 pips. Depending on the currency pair, however, the spread prices can fluctuate greatly. AvaTrade’s Forex margin requirement is between 3.33 and 5.00 percent and can be leveraged between 1:20 and 1:30. Cryptocurrencies can only be traded with 1:2 leverage with a margin of 50.00 percent.

Spreads for the other trading instruments are also variable and vary accordingly from instrument to instrument. However, if you are interested, you can view the individual spreads on the website at any time.

Another potential cost factor that may arise is the inactivity fee. These take effect after three months of inactivity and currently amount to $50 per period of inactivity.

Finally, there are the administration fees at AvaTrade, which are additionally charged for 12 months of inactivity. These amount to $100 at the current time.

Demo account with AvaTrade

For beginners as well as advanced traders, the demo account with AvaTrade is ideal for testing the provider and its trading platforms without having to take any financial risk. This can be used completely free of charge over a period of 21 days, during which time a virtual credit balance of 100,000 euros is available.

AvaTrade Demo Account

With this virtual credit, interested investors can therefore first try out their trading strategies without having to take the corresponding risks. The registration for the demo account is uncomplicated and fast. In addition to registration by entering a name, e-mail, and telephone number, it is also possible to log in via Facebook or a Google account.

Which possibilities for further education are offered?

At AvaTrade there are also some possibilities for further education in the trading area. The online broker provides interested investors and traders with numerous articles on the basics of trading. These deal, for example, with explanations of the trading instruments offered, as well as technical analysis and the functioning of the trading platforms.

AvaTrade Education offers

And even for experienced traders, there are a handful of proven trading strategies (Fibonacci Trading Strategies, MACD Strategies, etc.), which are presented at AvaTrade in corresponding articles. Apart from this, the provider also offers a free e-book on the topic of Forex for download, but currently only in English.

The range of video tutorials is also suitable for both beginners and more advanced traders. There are corresponding video tutorials on various topics. Last but not least, with Sharp Trader, AvaTrade offers its customers a further opportunity to acquire additional knowledge in the trading area. The partner Sharp Trader has a variety of other helpful videos on its website as well as daily technical and fundamental analyses and trading tools.

Customer Service at AvaTrade

AvaTrade’s customer service can be contacted through a number of channels in case of questions or problems. However, even before using the customer support, it is possible to check the FAQ register to see if the question can be answered in advance.

According to their own statement, the online broker is available around the clock to take care of the problems and concerns of his customers. The first option for contacting customer support is a corresponding contact form, in which, in addition to some personal data, the reason for the inquiry can also be narrowed down.

Then, of course, there is also the possibility of telephone support with AvaTrade. The employees of the service team are available on all open market days. For 38 different nationalities, there is a corresponding telephone number. Finally, there is also a live chat in the offer of the online broker. Depending on the country selected, however, the business hours vary.

Support available:Sunday: 21:00 GMT – Friday 21:00 GMT
Telephone:+353766705834
Adress:not available
Languages:15+ languages

Conclusion

In principle, it does not hurt to take a closer look at the experiences on the Internet, which have already been made by other traders, before deciding on a provider. The opinions on the Internet are mostly positive. The trading offer of the online broker offers investors a number of different options to expand their own portfolio. As a regulated online broker, customer funds are also appropriately secured.

And customer service can also be contacted via several channels and at flexible times.


Most asked questions:

Is AvaTrade regulated?

AvaTrade is regulated through many institutions. AvaTrade is regulated by the IIROC, the BVI, the FSCA, the Central Bank of Ireland, the ADGM-FSRA, ASIC, FSA, and FFAJ. The AvaTrade owns regulatory licenses across 5 continents.

How long do AvaTrade withdrawals take?

Usually, Withdrawals are sent within 1 business day. When the payment is received depends on the payment method. Payments per Credit Card take up to 5 days, while e-Wallet payments are processed within 24 hours. Wire Transfers can add up to 10 business days.

When is my Account verified?

Customers can easily watch out for the verification status in their AvaTrade account. When the status is green and says approved, it means that the account is verified. If that’s not the case, the account is either rejected or under maintenance.

Is there a demo Version for AvaTrade?

Everyone can try the demo version for free. It’s user-friendly and easy to use. The registration process takes only 3 minutes until you are ready to go.

One Response

  1. Andre Witzel August 29, 2020

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