AvaTrade Review 2018
Our Avatrade review will look at several key factors that potential traders need to consider before deciding on the best forex brokers to join.
What is AvaTrade?
Founded in 2006 in Dublin, Ireland, AvaTrade offers trading services in a wide range of assets to over 200,000 clients globally. Armed with strong financial backing, AvaTrade continues to strive to provide their clients with an extensive range of services and products.
Although its operational base is in Dublin, due to the size of their client base, Avatrade has offices in countries around the world including Italy, France, Nigeria, China, South Africa, Australia, Japan and Mongolia.
AvaTrade is unable to service USA clients due to strict regulations placed on forex brokers by the SEC that prevents the trading of CFDs in this region.
Our Avatrade review has uncovered that there are many regulatory bodies that govern the behavior of the brokerage firm. These regulatory agencies include:
- The Central Bank of Ireland under reference no: C53877
- The Australian Securities and Investments Commission (ASIC) under license number 406684
- The Financial Services Commission (FSC) in the British Virgin Islands
- The Financial Services Agency (FSA) under license 1662 and the Financial Futures Association of Japan under license 1574
- The Financial Services Board (FSB) under license 45984 in South Africa
Reliability and Security
Our Avatrade review clearly indicates that this company is one that is extremely reliable for novice and expert traders alike. With a highly established reputation among the online trading community as a high integrity broker, Avatrade should not be of concern to the uneducated novice trader looking for a trustworthy broker.
Firstly, it is a highly regulated broker that complies with the strictest of regulations when it comes to financial trading. Secondly, Avatrade has won many awards that recognize their value as a brokerage including receiving “Best Customer Support” and “Best Forex Broker” awards by highly respected outlets.
In terms of security, client funds are secured by segregating funds away from those of the company and placing them in highly safe Tier 1 banks. Additionally, client information and personal data is protected via the use of Secure Socket Layer (SSL) encryption when transmission of client information and personal data is undertaken.
Avatrade Trading Platform
Our Avatrade review identified that there are an incredible 8 trading platforms that the company offers their clients to use. These eight options are:
AvaTrade Go: Where you can trade on the move with an app for iOS and Android that possesses a friendly, easy-to-use dashboard and advanced features.
MetaTrader 4: The world’s most popular trading platform that possesses powerful yet flexible trading capabilities.
MetaTrader 4 Floating Spreads: Equips clients with low spreads starting as low as 0.9 pips.
Automated Trading: A social platform that gives clients that ability to copy the trades of more experienced forex traders.
Mac Trading: AvaTrade provides easy trading on Mac machines whether via online trading or through download.
Web Trading: This enables you to check open trades and perform new ones from any browser without downloading.
Mobile Trading: Clients can access their Avatrade account wherever they are with AvaTradeGO and the MT4 mobile app
AvaOptions: Allows clients to express their market view with calls and puts while using their embedded tools to maximize their return.
Mobile Trading Capability
Avatrade trading platforms are available on mobile devices. Their apps are supported on Android and iOS technology which enables their clients to perform trades and browse markets while on the move.
Types of Trading
Our Avatrade review in 2018 uncovered that the company provides a wide range of trading assets for their clients to choose from, these include:
In addition, they have provided their clients with the option of cryptocurrency trading since 2013. Our Avatrade cryptocurrency review shows that they have recently added 7 new types of cryptocurrency to go along with their initial trading of Bitcoin. Unlike cryptocurrency exchange markets, with Avatrade clients trade with a CFD derivative so be aware that you would not be trading the physical cryptocurrency but would be potentially profiting from the price movements. The eight cryptocurrencies offered by Avatrade are:
- Bitcoin Cash
Check out our list of the best cryptocurrency exchanges 2018 here!
To make matters easier for their clientele, Avatrade offers just two choices of accounts: a demo account and a standard account.
The Avatrade demo account offers clients the opportunity to develop their skills and learn the trading platforms on offer prior to using real money. If happy with the avatrade demo account service, then clients are more than welcome to open an active money account and start trading with real money.
The Avatrade standard account refers to the real money account option offered by the company. To open this type of account, there is an Avatrade minimum deposit that must be paid. The minimum deposit that Avatrade requires is $100.
Spreads and Commissions
At Avatrade the trading costs are related solely to spreads as the broker does not charge commission on trades undertaken. They offer two forms of pricing in relation to spreads to make their money either by fixed price spread or through floating spread pricing.
To open a real money account with Avatrade, all clients are required to deposit $100. Deposits can be made via credit card, wire transfer, and payment through PayPal, NeTeller, Moneybookers and WebMoney.
In terms of withdrawal options, with the Ava debit card feature clients can withdraw funds without payment although it can delay the process for up to 3 business days. If not using the Ava debit card feature, then clients can expect to wait up to 8 days for the withdrawal process to be completed.
Promotions and bonuses
AvaTrade offers new clients a welcome bonus when they sign up and make an initial deposit into their trading account. Depending on the size of the deposit, bonuses can range from $100 to $10,000.
They also offer a referral bonus whereby existing clients are rewarded for referring a new trader. He/she will receive a bonus that ranges from $75 to $400.
Our Avatrade review found that the brokerage sets themselves apart from other firms through the superb expert support staff that they have available 24 hours a day, 5 days a week to cater to both novice and advanced traders. With their staff equipped to handle questions in over 12 languages via live chat, phone and email most answers are given swiftly and efficiently.
- High-quality customer support
- Avatrade demo account available
- The very popular MetaTrader 4 trading platform is available to clients
- Safe and reliable due to strict regulatory oversight
- Large choice of trading platforms
- Generous bonuses
- Large range of cryptocurrency options
- Website layout could use some improvement
- Minimum deposit required of $100 might be too much for some novice traders
Our Avatrade review in 2018 found that as far as best forex brokers go, this company is at the very top. Having won many awards for excellence, very well regulated, and with many trading platforms on offer, new clients are guaranteed to be joining a highly respected brokerage. With an ever-increasing client base, and a long and established history for sound customer service, Avatrade is a wonderful choice for the forex trader, especially for those located in the UK and Australia.