AvaTrade ReviewEnriched Trading Platform For Smart Traders

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AvaTrade Traders Reviews

With the abundance of trading companies offering different conditions and different tools, it’s only natural to do some research before deciding with which online broker to invest your hard-earned money. Thankfully, there’s a wealth of internet sites that publish user reviews – updated to the latest market event and showing how various online brokers deal with a rapidly evolving industry. Sites like Trustpilot and Forex Peace Army quite often publish an AvaTrade review, and we’re proud to say that most of the feedback is extremely positive.

How do we maintain the reputation?

AvaTrade is well into its second decade of operation, boasting adherence to the regulatory requirements of more than 6 global regions – from North America through Europe and South Africa to Asia, including the hard-to-crack Chinese market. Our track record is one no other online broker can attest to; each AvaTrade review speaks for itself, thanks to a corporate vision that emphasizes client satisfaction and a constant effort to answer each new need as it arises.

We had a difficult period during the Crypto crisis of 2020, which led to an unprecedented influx of new clients. Unprepared to deal with the sheer scale of sudden interest in this volatile asset, driven by the news hype and a desire by many to ride the steep incline, clients were faced with longer-than-usual withdrawal processing and intermittent suspension of crypto assets due to extreme price-swings. Clearly, some AvaTrade reviews reflected frustration.

AvaTrade immediately took steps to remedy this situation – even while it was still developing. In the midst of the storm, we increased our customer service staff significantly, investing heavily in professional training, so that existing clients would no longer have to wait with their requests while new clients are being onboarded; and we have limited position size and leverage on cryptos, so that that extreme volatility will not endanger our clients’ funds beyond those levels acceptable in the industry by successfully adopting the latest ESMA regulations and MiFID II.

And the proof is in the pudding: our overall customer satisfaction, as reflected in each AvaTrade review, is amongst the highest in the industry, and in this period of change, which the entire online broker sector is undergoing, AvaTrade remains at the front.

As before, our aim continues to be to serve our customers and help them trade with confidence. We shall continue to listen to each AvaTrade review and feedback, to each client and to the echoes of each online development; and we shall strive to understand your expectations and continue working around the clock to exceed them. Happy Trading!

AvaTrade Review

Competitive spreads and excellent educational resources

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  • Account Minimum: $100
  • Fees: Advertised spreads as low as .9 pips
  • Best For: New and undercapitalized traders

Disclosure

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Originally founded as AvaFX in 2006, AvaTrade offers average-to-competitive spreads and a broad variety of tradable instruments through its Ireland domicile and multiple satellite offices, with financial registration across six jurisdictions on five continents.

Novice traders can open accounts for as little as $100 while the broker’s commitment to education should get them up to speed quickly. A dedicated educational and research site has grown in the last year, now offering a broader variety of free courses, videos and market analysis.

Since our last review, the broker has reduced the number of trading platforms while adding a professional designation to bypass ESMA leverage restrictions. Some of these changes are poorly documented, raising potential confusion when prospective clients are looking at account types, spread schedules, and fee listings.

Full slate of forex, CFD, cryptocurrency offerings

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Unique social trading features

Impressive educational offerings

No Metatrader 5

Trading platforms lack news and research functionality

Trust

Clients have account protection up to EUR 20,000 through Ireland’s Investor Compensation Company (ICCL) but the broker provides no additional insurance. They offer negative balance protection, now mandated under EU financial regulations. Desktop, web, and mobile platforms utilize no second-factor authentication but account holders can use Metatrader’s One Time Passwords (OTP). The company holds client funds in a segregated account but runs a dealing desk that makes markets against clients, raising the potential for conflicts of interest. A large Australian operation is regulated through the Australian Securities and Investment Commission (ASIC).

Desktop

The broad variety of trading platforms noted in our 2020 review no longer holds true due to the removal of RoboX and Mirror Trader social trading programs and AvaTradeAct, their dedicated platform and Metatrader alternative. As a result, clients executing traditional technical or fundamental trading strategies now have little choice but to use Metatrader 4 and its aging feature set. It’s instructive to note that many EU competitors have added a Metatrader 5 option in the last year but AvaTrade has announced no plans to offer the more up-to-date platform.

Traders can take spot and options positions through AvaOptions, a dedicated but basic platform that provides plain vanilla and complex hedging with streaming put and call quotes for a subset of forex pairs, as well as a diverse set of strike prices and expiration dates. The two remaining social and copy trading platforms, ZuluTrade and DupliTrade, include most of the features offered by the discontinued programs.

Mobile

Metatrader and AvaOptions web versions provide integration with desktop platforms but AvaTradeAct for the web is no longer available. AvaTradeGO, released in November 2020, now offers an Android and iOS alternative to the plain vanilla Metatrader 4 Mobile.

The rebranded and updated MT4-based app includes enhanced social trading capacity but a limited feature set that’s generated dozens of complaints on Google Play. The app is also geared toward newer and less skilled traders, providing “step-by-step guidance on opening trades” and a feedback system that experienced traders aren’t likely to use.

Research

AvaTrade provides an economic calendar and limited research through sharptrader.com. A brief (2 to 4-minutes) daily Trader’s TV video (via YouTube) comprises the core of research materials, with the script then transcribed as a Daily Market Review.

AutoChartist intra-day updates list short-term technical signals while a fundamental analysis section included a few links to daily reports but just four other stale, dated articles. A more current feature article section lists six broad brush reports on topics that included tariffs, Brexit, and Bitcoin.

Education

Trading courses and other educational materials are offered through sharptrader.com as well. Well-organized tutorials are segmented into beginner, intermediate, and advanced topics, offering logical paths to skill building. A broad variety of general articles covered all sorts of market topics as well as tutorials on trading platforms.

Materials were segmented into five major sub-topics, allowing clients to find answers quickly and efficiently. A buggy search function detracted from the learning experience, failing to include many articles and topics. And inexplicably, the main broker site includes an education sub-menu and a variety of useful materials not integrated into the dedicated site.

Special Features

The broker now provides a pathway to a professional designation that permits much higher leverage under new ESMA rules. However, few retail customers will qualify for those benefits, which require financial industry experience and a large trading account. They also offer fixed and floating spread accounts as well as an Islamic account that will incur wider spreads.

Customers can access third-party platforms for copy and social trading while the AutoChartist plug-in for Metatrader adds technical functionality. This option requires at least $500 in the account, locking out very small traders.

Investment Products

The list of forex, CFD and options trading instruments is impressive while the addition of 8 cryptocurrencies provides new opportunities for high-risk speculators. CFDs include a basic selection of commodities and bonds as well as 69 shares and 5 ETFs, dominated by highly liquid US big tech stocks. UK and Ireland traders can open spread betting accounts as well, rounding out a full-featured investment product catalog.

Commissions and Fees

The broker touts no commission trading and ultra-low spreads but that may be inaccurate, depending on account type. A single page lists spreads for all tradable instruments as well as overnight interest calculations, maturity rollover fees, and inactivity fees.

Retail traders are charged higher spreads than professional traders but few clients will obtain that designation. The marketing page only lists fixed spreads, with no documentation on floating spread minimums or averages. That information was buried within the FAQ, adding confusion about account types and relative costs. No documentation was provided on actual spreads for Islamic accounts.

A legal document review found some discrepancies on spread and fee disclosures that included hidden withdrawal fees and a provision to charge commissions on some account types, although those types were not disclosed. These omissions could be remedied with more detailed information about account types, especially fixed vs floating, as well as side-by-side account comparisons.

It takes just $100 to open an account and AvaTrade offers no volume discounts or guaranteed stop losses. They charge a $50 fee after three months of account inactivity and a $100 administration fee after one year of inactivity. As mentioned, no withdrawal or closure fees are listed in the marketing materials but the legal documents noted fees for bank transfers and credit card transactions. Withdrawal processing can be unusually slow, requiring as long as 10 business days to receive wire transfers.

Customer Support

A comprehensive FAQ will address most inquiries. The broker offers 24/5 chat/phone support as well as social media portals and an online form entry. Connecting with chat may be cumbersome, with three requests at different times of day answered by a live representative within 8 minutes.

The broker maintains international offices, allowing customers local contact when needed. They provide an international phone number as well as a laundry list of local phone numbers covering their numerous jurisdictions and EU member states.

What You Need to Know

AvaTrade offers average-to-competitive spreads, depending on account type, and excellent educational resources. Along with low account minimums, they’re a sound choice for new and undercapitalized traders seeking to build limited skill sets. However, large-scale and professional traders are likely to find better value elsewhere due to the lack of volume discounts, high-end trading platforms, and comprehensive news and research.

Compare Avatrade

Investors seeking a wide variety of forex, CFD, and cryptocurrency offerings may find what they are looking for with Avatrade. See how they compare against other online brokers we reviewed.

Methodology

Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of online brokers. Our reviews are the result of six months of evaluating all aspects of an online broker’s platform, including the user experience, the quality of trade executions, the products available on their platforms, costs and fees, security, the mobile experience and customer service. We established a rating scale based on our criteria, collecting over 3,000 data points that we weighed into our star scoring system.

In addition, every broker we surveyed was required to fill out a 320-point survey about all aspects of their platform that we used in our testing. Many of the online brokers we evaluated provided us with in-person demonstrations of their platforms at our offices.

Our team of industry experts, led by Theresa W. Carey, conducted our reviews and developed this best-in-industry methodology for ranking online investing platforms for users at all levels. Click here to read our full methodology.

AvaTrade Review:Enriched Trading Platform For Smart Traders

What is AvaTrade?

Are They Legitimate? Read This Before You Invest

The Lowdown on AvaTrade

Who Are AvaTrade?

The concept of investing in cryptocurrencies presents one of the most interesting undertakings of today. Indeed, cryptocurrencies such as Bitcoins have grown so much in value and with that comes an opportunity for investors to realize solid returns. One of the players making it painlessly easy for that to happen has been operating globally since 2006. In this AvaTrade review, we are going to talk about how this UK-headquartered company plays a pivotal role in the fast-growing marketplace.

Who Can Trade with AvaTrade

Anyone with the desire to invest can be a part of AvaTrade. The platform has been designed in such a way that it is accommodative to all levels of traders. So, whether you are a beginner or an experienced trader, you can rest assured that this system has a module to get you moving.

AvaTrade has been on the trading markets for slightly over one decade. Throughout the years, the company has made a name for itself by remaining consistent and steadfast in providing a platform for growth for investors. Given that the company is registered and licensed to transact as an international broker, it provides an outstanding choice for prospective traders who would like to be part of a flexible and intuitive trading platform. Different AvaTrade review postings laud this as one of the revolutionary approaches to cryptocurrency investment available out there.

Conducting over 2 million trades per month across a user-base of 200,000 customers across the globe, AvaTrade is a platform for retail traders to comfortably grow their trading strategies and benefit from a variety of financial trading instruments, from Forex to commodities to cryptocurrencies and more. In an industry where trust is paramount, AvaTrade has built a business that not only complies with all standard regulation, but has been recognized for its superior service year-after-year.

Trust and Recognition

AvaTrade is a trusted broker, with multiple AvaTrade reviews, over a decade of industry experience and global offices in over 10 countries worldwide. The company is an authorized broker-dealer and regulated according to many worldwide government institutions, giving users peace f mind that their funds are secure on the platform. However, because AvaTrade is not regulated in the United States, they are unable to accept clients residing in the US or take any deposits that originate in the United States at this time.

Not only is AvaTrade a trustworthy broker, because of its superior trading platform, reliable customer service, and trading options, it has won many awards for its contributions to the industry, including:

  • Best Forex Broker – 2020, 2020, 2020
  • Global Bitcoin CFD Trading Provider of the Year – 2020, 2020
  • Forex Excellence Award – 2020, 2020, 2020
  • FXEmpire Best Affiliation Program – 2020, 2020, 2020
  • DailyForex Most Reliable Broker – 2020, 2020, 2009

Instruments Available for Trade

While many trading platforms only provide a small selection of trading instruments, AvaTrade offers one-stop-shopping for users to trade a variety of financial instruments. Forex spot trading is available with both fixed and variable spread pricing. Additionally, Vanilla Options are available for Forex trading on the AvaTrade platform. Stocks, bonds, indices, commodities, and more are available to trade with Contract for Difference (CFD) instruments. AvaTrade even offers exposure to the newly emerging cryptocurrency industry, with CFDs available on 7 of the sectors top coins.

Exchange Onboarding

To start, AvaTrade requires submission of personal information, such as date of birth and address (which must be confirmed via a utility bill or bank statement), as well as the submission of a form of government-issued ID. It may take some time for identity verification to be completed.

Once the account identity is approved, a deposit to the account can be made. Deposit and withdrawal methods on AvaTrade include credit card, PayPal, bank wire transfer, Neteller, and more and may be dependent on your country of residence.

Trading Tools

One thing that makes AvaTrade stand out when compared to its competitors is its variety of tools built-in to its trading platforms, allowing traders of all levels to build custom trading strategies for success.

  1. Demo Account – Want to test out trading tools without the risk of losing real money? The AvaTrade Demo Account allows users to get used to using the AvaTrade platform and make simulated trades before making any real-money deposits.
  2. AvaTradeGo – This mobile app delivers charting and market trend analysis on-the-go. Trade forex, cryptocurrencies, stocks, and more from your mobile device.
  3. Guardian Angel – An add-on for MetaTrader 4, MetaTrader 5, Guardian Angel provides real-time feedback on trades and market changes. This tool will help mitigate future trading risks and increase your trading knowledge exponentially.
  4. Automated Trading – Do you have faith in a specific trading strategy? Or, would you like to simply ride on the backs of other traders with more experience than you? Automated trading tools such as DupliTrade and ZuluTrade allow you to do just that, giving users the opportunity to copy the trading strategies from other users to automatically execute trades without having to do any additional work.
  5. Education – AvaTrade has an entire section on its website devoted to user education, including everything from beginner tools and tips to a Forex eBook and video training tutorials. The Sharp Trader educational site provides daily trading analysis and tools to help traders build their skills.

AvaTrade Trading conditions

The minimum account deposit is dependent on the base currency and deposit method of each user, with the deposit minimums as follows, with the minimum for a credit card deposit on an account based in US Dollars being $100.

Withdrawals take 1-2 business days for approval on AvaTrade, with the entire withdrawal process taking up to 10 business days depending on the processing time and withdrawal method being used. Other important trading conditions to note are a minimum position for CFDs of 0.01 lots, with the minimum spread available on Floating Spreads account of 0.9 pips, while fixed spreads start from 3 pips, and up to 400x trading leverage.

AvaTrade Fees

A big part of any trading platform, fees play a large role in determining the benefit of any financial marketplace. AvaTrade does not collect fees on a commission basis, and instead, works across Bid/Ask spreads to collect fees from users. Spreads are calculated on a per contract basis and dependent on the financial instrument being traded. A few example spreads for various financial instruments include:

  • Apple (AAPL) – 0.06 over market
  • Google (GOOGL) – 0.20 over market
  • Crude Oil – $0.03
  • Gold – $0.50
  • 5 Year US T-Note – 0.03 over market
  • EUR/USD fixed rate – 1.9 pip
  • EUR/GBP fixed rate – 2.5 pip
  • BTCUSD (Bitcoin to US Dollar) – 0.75% over market
  • Ethereum – 1% over market

Spreads change according to market conditions, so the most up to date version should be checked directly in the trading conditions section of the AvaTrade site found here.

Customer Support

A review of AvaTrade found that its customer support service is extensive, providing local phone support for a variety of countries worldwide, live online chat support, and email request ticket submissions. This variety of support tools gives users plenty of outlets to get all of their questions answered, and tickets that are submitted during off-business hours are usually responded to within 24 hours. At the beginning of 2020 AvaTrade experienced an overwhelming inflow of new customers that resulted in longer than usual support response times, but they increased their workforce capacity in order to handle it, and are back to normal response times.

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