3.26 84 Reviews

AvaTrade Review Summary

AvaTrade was originally founded as AvaFX back in 2006 in Dublin, Ireland where it is currently headquartered. AvaTrade has offices in Chile, China, Australia, Japan, Italy, Mexico, Mongolia, and South Africa. Currently, the broker’s trading volumes are over $60 billion per month and the broker has 200,000 registered users. The broker is regulated by ASIC, BVI, CBI FSCA. AvaTrade prides itself on following some core business values such as ‘integrity and fairness’ and ‘uncompromising self-evaluation’.

AvaTrade Review Highlights

Trading Platform: MT4, MT5, AvaOptions (Proprietary Platform)
Cryptocurrencies 10+ (Bitecoin, Litecoin, Ethereum).
Regulator ASIC, MiFID, FSA, FSCA
Minimum Initial Deposit $100
Leverage Up to 400:1

Pros & Cons

  • Well-regulated in multiple jurisdictions.
  • Variety of trading platforms to choose from.
  • Bad customer support.
  • Not enough educational material.
  • Limited range of trading instruments.
AVATrade logo

AvaTrade offers two account types from two separate companies that are under its brand: Ava Trade Ltd and Ava Trade EU Ltd. The account types vary based on the jurisdictional regulations that these companies apply to. However, all the accounts allow users to access the same trading instruments, platforms and offer negative balance protection, but they do have different maximum leverage levels. For users who have multiple accounts, AvaTrade offers MAM accounts (Multi-Account Manager) which allows users to manage numerous accounts from a single login.

With AvaTrade Ltd (for non-EEA citizens) you can open either a Standard Account or an Options Account, while for AvaTrade EU Ltd users can open a Retail, Professional, Options or Spread Betting account.  In addition to this AvaTrade offers swap-free (Islamic) accounts for those who abide by Sharia Law. AvaTrade does not accept U.S clients.

We found account opening with AvaTrade to be quite simple and straightforward, but you must choose your base currency sensibly as you will not be able to change it later. You can open your account in EUR, USD, GBP (only available for UK residents) or AUD (only available for Australian residents). The broker requires standard identity verification documents such as government-issued proof of identity (passport, ID or driver’s license) and proof of address (utility bill). AvaTrade’s minimum deposit when opening an account is $100.

AvaTrade offers over 150 tradeable instruments for trades that are in CFD form. The broker offers forex (+55 pairs), stocks, indices, bonds, commodities, ETFs and most importantly cryptocurrencies. We found that AvaTrade offers good swap rates for cryptocurrencies and has several currencies to choose from such as Bitcoin, Bitcoin Cash, Bitcoin Gold, Ripple, Litecoin, Ethereum, EOS, NEO and Dash.  As per the most recent ESMA regulations, the leverage for cryptocurrencies is limited to 2:1.

Furthermore, AvaTrade features ‘vanilla options’ which allows traders to buy or sell an underlying asset at a fixed price within a certain timeframe.

AvaTrade is a market maker, however, we found that the broker doesn’t always offer the most competitive spreads. In addition to this, we believe the broker could certainly be more transparent in terms of fees, particularly in terms of CFDs. Mostly, AvaTrade does not charge commission but instead, it levies its trading fees into the spreads. The broker offers floating as well as fixed spreads – the broker offers spreads from 1.3 pips. Positions that are held overnight incur swap fees and the same applies when holding position during the weekend (3-day fee is charged). An inexperienced trader should pay attention to this as it may significantly affect their profitability.

Should your account remain inactive for 3 months, Avatrade will charge an inactivity fee of $50/€50/£50 (depending on what base currency you use). This fee is charged periodically, so every quarter. Moreover, the broker charges administration fees of $100/€100/£100 (depending on what base currency you use). This happens after 1 year of inactivity.

At AvaTrade users can deposit funds into their accounts through several options such as debit/credit cards, bank transfers and also popular e-wallets such as Neteller, Skrill, etc. There are no deposit fees, but the minimum deposit fee is $100. In terms of withdrawals, there are no withdrawal fees and we found the process to be quite simple – after you verify your account and select your preferred withdrawal method, the request is processed with five days depending on the method you chose.

We found that AvaTrade offers a variety of platforms for traders to use such as the popular, award-winning MT4 (MetaTrader 4) as well as the multifunctional MT5 (MetaTrader 5) that AvaTrade recently added to its list. This platform offers advance auto-trading tools as well as mirror trading. Both platforms are available as downloadable software, browser-based and on mobile both iOS and Android devices. In addition to this, AvaTrade supports ZuluTrade and DupliTrade for automated trading. In addition to this, AvaTrade accepts EAs (expert advisors) that are bots that can trade on your behalf.

AvaTrade also created its own proprietary platform called AvaOptions that is a browser-based platform. It is also available on mobile under the name of AvaTradeGO which is also available on both Android and iOS devices.  We found the proprietary platform to have a decent, clean design but it was quite basic.

AvaTrade offers the technical analysis tool called Autocharist on the MT4 – this tool allows traders to identify trading opportunities. This tool is quite useful and popular among traders. The broker also features an Economic Calendar which helps traders plan their trading strategies based on the financial events that may affect the market. In addition to this, AvaTrade also provides clients with the earnings release schedule of many stock CFDs.

Avatrade offers a market analysis tool that is available when opening an account with the broker, that contains information such as forecasts, fundamental analysis, etc.

We found the education at AvaTrade to be quite mediocre. There is some information in forms of e-books and videos that may be helpful to new traders, but the information was not sufficient for more advanced brokers. In addition to this, the broker offers Economic Indicators which allow traders to predict economic performance in the future.

Customer support at AvaTrade is, once again, mediocre at best. Support is available in 30 languages through phone, email and live chat on a 24-hour, 6 day a week basis. We found it hard to reach the customer support team via phone and the wait time was quite long.

To conclude, AvaTrade was not our favorite broker due to some of the downside the broker has, for example, its limited range of trading instruments and it’s difficult to reach the customer support team. Despite that, as a regulated, longstanding broker, AvaTrade is trusted by traders who enjoy its platform and find that it fits their needs.

Official AvaTrade Review Registration

Founded: 2006
Broker Type: Market Maker, Dealing Desk
Languages Supported: +30
Trading Instruments: +150 - Forex, Stocks, Indices, Bonds, Commodities,
Account Types: EU: Retail Account, Professional Account, etc.
Expert Advisors: Yes
Social Trading: Yes
Hedging: Yes
Scalping: No
Commission: No
Inactivity Fee: Yes, $50 per quarter
Swap-Free Account: Yes
Mobile Apps: Yes
Demo Account: Yes
Prohibited Countries: USA
Trading Fees: Variable - integrated in the spreads
Withdrawal Fees: No
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AvaTrade Reviews

84 Reviews for AvaTrade

  • Wiliam says:

    Great platform for all levels of trading. Low commissions along with better fills. Best tools for option traders.

  • Yacobacci says:

    I am small advisor and have used AvaTrade’s Friends & Family advisor module for over 2 years. The trading platform and ETF options are top notch, especially since AvaTrade offers access to global stock markets directly (not via OTC markets). I also really appreciate that AvaTrade opens accounts for non-resident aliens and give foreigners the opportunity to invest. Few brokerage firms offer such comprehensive and global services. Excellent customer services, platform and guides.

  • MixVal says:

    I am expert of pandemic, and i can help you.
    PS: How are you? I am from France :)/ mixx

  • wooBob says:

    hi, i am woo from Sweden and i want to explain any thing about “pandemic”. Please ask me 🙂

  • Emmet says:

    Fine for me however, as I Intended to hold long term. However after the stop loss issue a couple months ago I am constantly worried my positions will be closed and I will lose my position.

    I do not trust AvaTrade with my money.

  • MixVal says:

    thx much for the invitation :). I am expert of pandemic, and i can help you.
    PS: How are you? I am from France 🙂 very good forum 🙂 mixx

  • Hipeton Mirovik says:

    I just wished to advise any AvaTrade account user that should your account be hacked, AvaTrade take no responsibility for fraudulent trades placed onto your account.

  • Marta says:

    Seems that rates a lot different to the ones available elsewhere. Support is good !

  • Allister Wilkinson says:

    I am grateful for the prompt reply. Actually your customer support services are meticulous. Thump up DINO!

  • Tara M says:

    Really good service,had a confusion with my settings and Kadesha helped me promptly and efficiently!!Keep up!!

  • Fola says:

    Agents are helpful and knowledgeable.

  • Reuben Noel says:

    I had to reset my demo account balance. Customer Service was courteous and prompt to attend. Mind you though, the queue wait before a live agent could take long (mine took 30mins wait and actual work only took 2mins).

  • Jerry Woollett says:

    Spreads are way too high! Fees are also extortionate!
    Website is very easy to use for beginners so a good starting platform.

  • Cintula says:

    Slow withdraw

  • TB says:

    Good broker, but some interruptions of service happened intraday.

  • Steve V says:

    Very good broker with no leverage limitations. Spreads are also very low

  • Wiktoria Charles says:

    It is very convenient, reliable and trustable

  • Pollyanna Ahmed says:

    Fast service. Way better rates than the bank.

  • Tanki says:

    Very good experience about mirror trade until recent changes. It is very easy to close all the positions by just click once. But the bad thing is now I cannot copy the opening trade. I asked for help but no answer. Otherwise I will give a five star.

  • Labuschina says:

    So far so good only Just signed up using C Trade , their 24/7 chat help is also very good just takes a little time though to get to talk to someone but overall very good 4 stars

  • Manh says:

    Swap are not fair. Please adjust them. Until now good customer support.

  • Andy says:

    I really like the fact that it’s easy to register. Upon opening the account it stated minimum of $200.
    Done an online chat and asked if any amount was suitable, for example $10, agent said yes but the risks are more. Tried doing a $20 deposit but failed each time.

  • Mario says:

    phone call always hanging. chat some time delay. withdrawal is very hard.

  • Stephane Charbon says:

    The support team need to improve their knowledge. A few times I met with support personal can’t even answer simple question and with 1 time put me on hold with no answer for 15 minutes during live chat.

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