Year established: 2006
Minimum Deposit: $100
Spreads: 1.5 Pips
Certificate: Central Bank of Ireland, MiFID
Languages: English, French, Italian, Spanish, French, German, Portuguese, Arabic, Russian, Japanese, Chinese, Taiwanese
1This broker green icon, this means that we trust the broker. These are the current leaders of industry of brokers, and where most of the traders are trading today. Fraud, robbery, and bad websites
With offices in New York, Dublin, Sydney, Milan and Tokyo (among others), it should come as no surprise that AvaTrade is among the top Forex brokers in the world. Perhaps more importantly, AvaTrade is regulated by the Central Bank of Ireland and licensed by MiFID in the European Union; it is also regulated by ASIC in Australia, the Financial Services Commission (FSC) in Japan, and has regulation pending in the British Virgin Islands. And yet, while securing multiple regulations is always a critical factor in evaluating the trustworthiness of a given Forex broker, we set out to complete a full AvaTrade review to determine whether the broker’s range of services is as impressive as its regulations. Read the comprehensive AvaTrade review below to determine whether this established Forex broker is right for you.
AvaTrade offers traders a choice of trading platforms including the popular MetaTrader 4 platform and the company’s own proprietary software, appropriately called AvaTrader, which is a downloadable platform that offers trading of over 60 currency pairs and is designed specifically with new traders in mind. Likewise, the company’s WebTrader offers a similarly user-friendly trading experience that can be accessed from nearly any computer, including public workstations.
We were not surprised to find during our AvaTrade review that the brokerage also offers mobile trading for most of today’s smart phones, as well as integration with some of the top automated trading services such as Currensee, ZuluTrade and Ayondo, which allow traders to have trades implemented directly onto their AvaTrade accounts.
In today’s competitive market, most Forex brokers try to compete with each other by offering a range of features, and AvaTrade is no exception. With free Forex learning tools including webinars and ebooks, as well as live market news integrated into their trading platforms, there’s no question that AvaTrade offers features that meet the industry standard. During our AvaTrade review, however, we found that the company’s features actually surpass those of most other brokerages, to include, among other things, an Ava debit card for all live account holders, access to Trading Central charting tools for depositors of over $1000 and free withdrawals. Though the company makes no effort to hide its 5 day withdrawal time for most accounts which we felt was rather long, all of the other features it offers can surely offset this small inconvenience.
AvaTrade also offers complete transparency as it pertains to their trading conditions, something we found extremely refreshing. The brokerage offers fixed spreads starting at 3 pips for EUR/USD, and going up to 120 pips for USD/ZAR. With 60 currency pairs to choose from and the opportunity for hedging, it certainly seems as though most traders should be able to find an aspect of AvaTrade that works for them.
Finally, it is worth noting that AvaTrade offers competitive deposit bonuses including $50 bonus for a deposit of $100, up to $1200 bonus for a deposit of $10000. Still, these bonuses require the trade volume of 10,000 base instrument for every $1 bonus within 12 months, which may be difficult for very new traders. The bonus is also not available for Ayondo and Currensee traders.
In keeping with the company’s inclination to provide a top notch service, we found that AvaTrade offers excellent customer support options, including email and chat support, as well as local phone support in 34 countries, making it possible for nearly every client to reach the brokerage affordably and in their native language.
Ease of Use
AvaTrade’s modern website and accessible top navigation makes it easy for traders to find what they’re looking for quickly and easily. In some categories such as the order types section, the website also breaks down the information into smaller sections so that traders will not feel overwhelmed by the sheer volume of information provided. In cases like these, convenient tabs help compartmentalize different types of information so that traders can find what they need without getting distracted.
We found the AvaTrade platforms similarly easy to use. While proprietary Forex trading platforms generally take some adjustments, it was clear that a lot of thought was put into the company’s platforms. On the other hand, while MT4 trading is extremely common these days, many traders who aren’t entirely familiar with the system find it overwhelming, though we find that it’s always nice to have a choice of platforms.
After completing a full AvaTrade review, we found only two downsides to this service, but a world of advantages. Though we would have loved shorter withdrawal times (available only with AvaSelect accounts that require a deposit of $100000) and higher spreads on some of the more popular currency pairs, we absolutely loved the flexibility allowed by AvaTrader, both in terms of currency pairs and in terms of platform options, as well as the multitude of financing options and the ability to receive an AvaTrade debit card. There’s no question that our experience with AvaTrade was positive, and we’d highly recommend it to traders at all skill levels.
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