AvaTrade is a CFD and forex broker that has its headquarters in Dublin, Ireland. They are licensed by various financial regulators and are recognized by trusted award-giving bodies in the financial market. They offer a full spectrum of streamlined trading platforms and are also known for their large and extensive network. They are one of the industry pioneers by providing an optimal environment for traders of all levels. Do they have what it takes to be one of the best in this market? You may continue reading for the full review.
Demo Account: Valid for 21 days
This broker offers a demo account with a free $100,000 virtual fund that can be used for making practice trades. This is an ideal way to develop my forex trading strategies and get familiarized with the platform since I won’t be risking any real money in the process. The downside however is that it is online and only available for 21 days.
Bonuses: More funds on the account
A new client bonus is added to the account and this will depend on the amount that was deposited. It’s a great way to add more funds into the account so I can make more trades.
Platform: Wide variety of choices
AvaTrade offers plenty of platforms to choose from. This includes the fully customizable AvaTrader which has advanced charting features and multiple feeds, the most popular MetaTrader 4, the MT4 Floating Spreads for indices, stocks and commodities trading, the AVAOptions which combines power and flexibility of FX Options, Automated Trading for copying trades of more experienced Forex traders, Mac Trading for Mac users, Web Trading for easy access on any browser and Mobile Trading for smartphone and tablet users.
Mobile Trading: For people on the move
They also have optimized mobile apps for iOS, Android and Windows Mobile operating systems. All the tools that I need are easily accessible and everything is automatically synced with the desktop platform.
Minimum Lot Size: Very low risks
I had no problems opening and closing trades since the risks are considerably lower with this broker. With an allowed minimum lot size of 0.01, it gives me more flexibility to control my positions with an investment amount that is very convenient for me.
Maximum Leverage: Larger returns at stake
With a maximum leverage of 1:400, I’ll be able to maximize the possible earnings to 400 times and have greater financial investments.
Spreads: Favorable numbers
They offer highly competitive spreads particularly on popular instruments like the EUR/USD pair which can go for as low as 1 pip for the floating forex category. This translates to a much better possible outcome since the costs are also lowered.
Tradable Instruments: More than 250 choices
AvaTrade allows me to trade with over 250 forex and CFD instruments. That’s a lot of choices and a lot of opportunities to make profits.
Deposit & Withdrawal
Minimum Deposit: Attainable amount
A minimum initial deposit of $250 is required to open an account with this broker. Such amount is easily attainable and is an added advantage for those who have a lower capital to invest.
Deposit Methods: Simple payment options
I never had any problems in depositing money into my account because there are a number of payment options to choose from and this includes credit and debit cards, wire transfer and various e-payment methods.
Withdrawal Methods: No setbacks
Withdrawing my money was very simple as well. I only filled out a withdrawal form and submitted it back via email to process the request.
Withdrawal Processing Time: Impressively quick
I was expecting to see my money back in a week so I was really surprised after getting it back in a matter of 2 days! It’s an achievement that most brokers cannot match.
Channels: Various methods of communication
Contacting the support can be done in various ways. I have the option to contact them via phone, email, fax and live chat.
Availability: Off during Saturdays
The support team is only available from Sunday 9pm to Friday 9pm GMT.
Supported Languages: Over 30 options
Traders from different countries won’t have any problem with the language barrier because this broker supports various tongues including English, French, Italian, Spanish, German, Portuguese, Arabic, Svenska, Chinese, Taiwanese, Japanese, Korean, Russian and Polish.
Average User Rating: 9.4
This score was provided by various users and its value is taken from the accumulated votes that were given by actual traders who have tested this broker.
Platform Design: Perfect for trading
The theme that they’ve selected is just right for the trading setting. The colors definitely capture my attention while the button designs and the sections are very easy to spot. Overall it was visually satisfying.
Support: Direct and straight to the point
What I liked about their support team is that they provide direct answers, plain and simple. It’s the kind of customer service quality that I’m looking for especially when trading currencies.
This broker is regulated by various financial authorities including the Central Bank of Ireland, the Australian Securities & Investments Commission, the Financial Services Agency and the Financial Services Commission. Other than that, they have also been recognized by a lot of award-giving bodies which is solid proof that they have a commanding position in the industry.
Editor’s Rating: 91
AvaTrade has continued to be one of the industry pioneers by providing an optimal environment for traders of all levels. Their flexible platforms, exemplary services and multilingual support team offer an excellent user experience. They surely have what it takes to be one of the best in this market.