AvaTrade Review 2023
Financial brokers are the means by which professional and retail traders can link to an exchange and trade the available instruments. Various tools are made available on the website/platform of the brokerage, such as multiple trading software, market analysis, economic calendar, etc.
These are aimed at helping investors with their overall consistency and profitability. With the increasing competition amongst various brokers, the spreads have been reduced to mere points, and the latencies on your trades are minimal. Traders should select a company with proper regulations, various financial, instruments, and excellent customer support.
If you’re looking for a reliable broker with a positive reputation, AvaTrade should be your first choice. AvaTrade is a veteran broker offering its services in the markets since 2006.
With its headquarters in Dublin, Ireland, the company provides trading opportunities to nearly all corners of the globe. The platform is trusted by reputable third-party security software and has multiple awards under its portfolio.
Regulation and Security
A good regulation from noted financial authorities ensures that the broker does not double-cross its clients. Regulators keep a strict check and balance on trade execution, available margin, safety of your funds.
AvaTrade is regulated in multiple jurisdictions mentioned as follows:
- Ireland: Central Bank of Ireland (CBI)
- Australia: Australian Securities and Investment Commission (ASIC)
- Poland: Polish Financial Supervision Authority (PFSA)
- International (BVI): British Virgin Islands Financial Services Commission (BVIFSC)
- Financial Services Agency: (FSA) and Financial Futures Association of Japan (FFAJ)
- The Middle East: Abu Dhabi Global Markets (ADGM)
- Israel Securities Authority (ISA)
AvaTrade does not use traders’ funds for personal benefits. The money is kept segregated within different bank accounts. The website is kept safe with the help of 256-bit SSL encryption and implements a True-Site identity assurance seal.
An all-advanced antivirus and anti-theft program (for example, McAfee Secure) is used to help prevent identity and credit card theft.
Is AvaTrade available worldwide?
With multiple regulations, AvaTrade can offer its services to residents of most countries. Traders from major countries such as UAE, Sweden, China, Australia, and Germany can participate in CFD trading on multiple instruments. Unfortunately, AvaTrade does not accept US clients as of now. AvaTrade has diverse features and offerings for clients in different regulations; it is primarily to avoid any regulatory constraints prevalent in a region; you can find more information about services in your region by clicking here.
A solid trading software with extensive features can help you beat the markets efficiently. It should include proper charting functions, economic calendars, range of orders, EA testing, marketplace, and order modification.
AvaTrader hosts a number of trading software for traders. Let us go through each in detail so you can select the one that suits your needs:
- MetaTrader 4. Developed by the MetaQuotes corporation, the MT4 platform is the primary choice for most retail traders. It has features including 9 time frames, live market feeds, 4 pending order types, a strategy tester, custom notifications, and alerts, to name a few. Traders can also use the basic MQL4 language to develop their own custom scripts, indicators, and expert advisors.
- MetaTrader 5. MetaTrader 5 is an advanced version of the MT 4 platform that was launched in 2010. The platform beats its younger brother by offering 21-time frames, 6 pending order types, various built-in indicators, and multi-currency strategy testing. The MQL 5 language is a bit complex in contrast with MQL 4. Overall the former is better and faster than the latter.
- Web Trader. A user-friendly online trading platform developed by AvaTrader for those who need quick technical market insight. Avaprotect, a risk management tool to protect your portfolio from excessive drawdown. Use the market sentiment to understand what other traders are thinking and make your decisions accordingly.
- AvaTradeGO. An on-the-go trading application that lists over 1000 instruments for trading. Avaprotect functions are also built-in to provide additional peace of mind. The app is available on Google Play and the Apple store.
- AvaOptions. A powerful options trading application available on desktop and mobile phones. The software can be a go to choice for traders looking to hedge their portfolios with put or call options. Multiple risk management tools are included alongside a range of orders. Traders can customize the UI of the software as per their requirements.
AvaTrade has a single account option for all traders where the trading costs are incurred as a spread. Traders can start trading with as low as $100 in minimum deposit during the available hours. The minimal trade size can vary according to the type of market and the trading software. Max capital limit of $1.5 million is enforced when it comes to crypto trading.
Islamic accounts are available to suit the need of Muslim traders. These portfolios act per the sharia or Islamic law prohibiting the enforcement of interest rates.
AvaTrade Islamic accounts can be set up in three simple steps: verification, funding, and application approval.
Social trading at AvaTrade is supported by Zulu and Dupli trade. Both are third-party copy trading websites which feature thousands of portfolios and their individual performances. Traders can sign up on either platform and enter their AvaTrade credentials to start copying trades.
The minimum trading amount at ZuluTrade is $200, while at DupliTrade it is $2000. A variety of risk management tools and filters are available to boost your social trading portfolio.
AvaTrade complies with the KYC policies set up by regulators. Traders have to provide their verification documents before funding their portfolios. While it may sound complex, the whole process is straightforward and would require a few minutes from your side:
- Provide your email address and password
- Head over to the trading dashboard
- Fill in your name, surname, and address details
- The support team will verify your account
- Once you get a green light, the portfolio is ready for trading
You can also save your registration and complete it at a later time.
The trading dashboard of AvaTrader features an online charting interface and live feed from multiple instruments. Investors can look over their current positions, orders, and trading history. The live chat section is at the bottom left of the interface alongside tutorials to answer your general inquiries.
Deposit and Withdrawals
AvaTrade supports swift deposits through credit cards and bank transfers. E-wallets such as skrill and Neteller may also be available depending on your jurisdiction.
To fund your portfolio, login to your account and head to the deposit section. Select the preferred method and enter the amount your wish to put in. Click on the deposit button, and the system will handle the rest.
The broker processes all the deposits within 24-48 hours of the request. Due to the regulatory compliances, the funds must go into the same payment methods used for funding. Wire transfers can take up to 10 business days for the funds to show up in your bank account, while credit/debit cards require 5 business days.
A variety of available instruments can help you spread your equity over multiple assets. This can help mitigate the overall risk through diversifications. AvaTrader supports trading on forex, stocks, commodities, FX options, cryptocurrencies, indices, ETFs, and bonds.
The available leverage and the spread costs for various instruments are shown as follows.
Commissions and Fees
The spreads on major currencies range between 1-2 pips, while for minor pairs, they can fluctuate in a range of 2-3 pips.
Traders can speculate on commodities such as gold for as low as 2.5 pips. The spreads can change depending on the market session and the volatility.
Currency spreads can vary significantly for different pairs; hence, it is essential to be prepared before entering a trade. You can find information about currency and metal spreads by clicking here.
The overnight interest rate can also differ according to the instrument. Stock indices have a daily swap rate of -0.0058% for long and short trades.
AvaTrade charges an inactivity fee of $50 if your account is dormant for 3 months. The amount is deducted from the trading balance. These costs can change from time to time.
Leverage is a great way to open big-sized positions with smaller capital. It can increase your buying power by 10 or 1000 fold. While the rewards are huge, traders should not forget that an increased value of buying power can also cause a margin call on their portfolio.
For most currency pairs, the highest available leverage on AvaTrade is 1:400. The amount is reduced to 1:10 for stocks and 1:100 for options.
Analysis and Education
90% of the traders end up failing due to the lack of proper trading knowledge. Good financial brokers include a comprehensive market guide and analysis to help beginner, amateur, and professional investors.
AvaTrader has a separate education section on its website. The broker shares a detailed guide for beginners along with technical analysis and strategies. An instrument section is also available where investors can analyze the history, highs and lows, major economic factors, and correlation of assets.
The list of available trading tools at AvaTrader are:
- Economic calendar
- Holiday hours
- Trading calculator
- Earning releases
With the advancements in the fintech sector, it is now possible to provide customer services through multiple means. Live chat, email, and social media handles are just a few options to name.
Traders at AvaTrade can contact the custom representatives 24 hours 5 days a week. They can send emails or use WhatsApp and the live chat column for inquiries. The broker gets ahead of other companies by listing the support number for multiple regions worldwide.
Reputation amongst Traders
AvaTrade has a whopping 6000+ reviews on the noted Trustpilot platform. The company has been verified with an overall rating of 4.8.
Traders are seen praising the excellent trading conditions at the broker. They further comment that the platform is user-friendly and the support is excellent.
The best brokers in the financial markets are bestowed with awards from reputable authorities. Over the years, AvaTrade has received many honors. Some of the notable mentions are:
- Best Broker 2021 by World Economic Magazine
- Best Trading App 2021 by Day Trading
- Best Retail Broker 2021 by Global Business Review Magazine
The partnership program at AvaTrade allows earning opportunities for traders and the broker itself.
- Affiliate. Promote AvaTrade on your social media or other platforms and earn a commission.
- Money manager. The money management program is for professional traders with astute risk management and profitability. They can manage a large sum of money using the MAM services at AvaTrade. As a reward, they can earn the account manager fees and profit-sharing.
- Act as an introducing broker at AvaTrade and earn a generous commission whenever someone signs up with your link and trades.
Can beginners trade with AvaTrade?
AvaTrader has catered its services to both beginners and professional traders. It allows novice traders to copy trade from pro traders and earn the same profits as them. While copy trading, they can also learn from the executions of veteran traders. The overall interface of the website is user-friendly, and the educational material is plenty.
AvaTrade is a satisfactory broker for those looking to use social trading services and develop their own consistency. Multiple software is available for market analysis, and the affiliate program offers healthy commissions. The broker is regulated by numerous authorities, which helps to keep your investments safe and secure.