AvaTrade Review: Multi-Platform Online Broker For Profitable Trading
If you are looking for a reliable and accurate AvaTrade review, you’ve come to the right place.
AvaTrade is a top online broker that started its operation in 2006. Based in Dublin, Ireland, it was initially named AvaFx.
AvaTrade deals in Forex, CFDs, and Cryptocurrencies. AvaTrade is known for its multi-platform and varied range of assets.
Traders prefer the low spread costs, high leverage ratio and vast educational tools on trading.
AvaTrade offers Forex, CFDs on bonds, stocks, indices, ETFs, commodities, and Cryptocurrencies. It has multiple platforms supporting both desktop and mobile.
In this review, we will go in-depth about the trading platform explaining the features, advantages, and issues.
We will also discuss about the withdrawals, deposits, education, and more.
Read below to find out if they are reliable and trustworthy.
Warning: Country Restriction (Do Not Accept Traders)
Warning: Please note that, AvaTrade Broker does not accept traders from the following countries –
- New Zealand
AvaTrade Review: What is AvaTrade?
AvaTrade is one of the industry leaders in the online trading world. It was established in 2006 by Emanuel Kronitz and Negev Nosatzki.
It is a regulated and licensed broker. It is regulated by Central Bank of Ireland and various other regulators.
Initially they only operated by trading Forex assets, but currently offer CFDs on bonds, indices, commodities, ETFs and Cryptocurrencies as well.
AvaTrade has won multiple awards for its exceptional service and features. Both new and experienced traders prefer AvaTrade as their preferred trading platform.
AvaTrade’s motto is “Trade with confidence”. They believe in four values: Integrity & fairness, customer service above all else, uncompromising self-evaluation and constant innovation.
AvaTrade operates on 5 continents and has over 200,000 users using their trading platform.
AvaTrade boasts over 2 million successful trades per month. Their trading volume amounts to over $60 billion per month.
Thanks to their multi-lingual customer support, traders are happy with the swift response to their issues.
They have their own proprietary trading platform in the web, desktop, and mobile along with MetaTrader 4.
AvaTrade also offers automated trading for users that prefer not to trade by themselves.
Why Choose AvaTrade?
AvaTrade provides some unique features that make it stand out amongst other brokers. Let’s take a look at the advantages of using AvaTrade.
- Completely authorized and regulated by 6 regulatory bodies.
- High leverage up to 400:1.
- Minimum Trade size 0.01
- 20% Welcome bonus
- Over 250 trading instruments.
- Fully featured demo account.
- Multiple trading platforms.
- Offers both automated and manual trading.
- Offers mobile trading.
- Low spreads
- Multiple payment methods.
- Dedicated educational website.
- Minimum deposit $100
- Minimum withdrawal $100
- Offers limit and stop orders.
- 256 bit SSL encryption for safe transactions.
- Offers Islamic accounts for Muslim traders.
- Fast and easy withdrawals.
- 24/5 multi-lingual customer support.
- Offers the best affiliate programs.
- Bonus on first deposit.
- Segregated accounts for secure transactions.
- Over 20 awards won.
- Vast educational resources.
- Risk management features.
AvaTrade is fully licensed and regulated. Multiple regulatory bodies have authorized AvaTrade depending on the region.
These regulators ensure that traders receive proper financial treatment from AvaTrade.
They ensure brokers don’t engage in illegal activities and protect the rights of the traders.
We have listed the regulatory bodies depending on the geographical region:
Regulatory body: Investment Industry Regulatory Organization of Canada
Regulatory body: British Virgin Islands Financial Services Commission
Regulatory body: Central Bank of Ireland
Reference No.: C53877.
Regulatory Body: Financial Sector Conduct Authority
FSCA No.: 45984.
Regulatory body: Financial Services Agency Japan and The Financial
Futures Association of Japan
FCA license No: 1662.
FFAJ license No: 1574.
Regulatory body: ASIC – Australian Securities and Investments Commission
Reference No.: C53877.
Awards & Achievements
AvaTrade has been awarded some of the most prestigious financial awards. Some of the awards are:
- Best Affiliate Programme
- Best Trading Experience
- Best Forex Broker
- Best Broker: Most Reliable
- Best Trading Experience
- Best Forex Broker
- Best Bitcoin CFD Trading Provider of the year
- Best Affiliation Programme
Arabcomgroup – AG:
- Best Financial Derivative Trading Provider
- Best Affiliate Programme
- Best Alert System
WORLD FINANCE: Exchanges and Brokers
- Best Execution Broker, Western Europe
- Best Trading Platform – Global
Global Banking & Financial Review
- Most Innovative Forex Broker Europe
World Finance Foreign Exchange Awards
- Best Forex Broker
In addition to these, AvaTrade has been bestowed with several other awards.
AvaTrade Login And Sign-Up Process
AvaTrade has multiple platforms but you need to. To register an account, you need to do the following:
Click on the ‘Create Account’ button below to open the sign-up page.
You have the option of registering via email, Facebook, or Google. Choose your preferred method of registration.
For e-mail registration, provide your first name, last name and phone number. Alternatively, you can link your Facebook and Google account to create an AvaTrade account.
There are some optional choices like entering a partner code or subscribing to receive newsletters and promotions. You can skip these as it not compulsory.
Your account is created and you can start trading. To trade on a real account, you need to deposit a minimum of $100.
Once you completed the registration process, you will be redirected to the user profile page where you have to complete your profile by providing the necessary information.
You can then start trading on their platform.
You need to verify your identity before you can trade on their platform. AvaTrade is a regulated broker and is dedicated in ensuring the safety of their customers.
In your account dashboard, head over to the ‘Upload Documents’ section and provide the following documents:
Any Government issued ID card: This can include your national ID, drivers license, and passport. You need to provide images of the front and back of the ID card.
ID card must present the following details: first name, last name, birth date, issue date and expiration date.
Any recent utility bill: You can upload any utility bill (gas, water), bank statements, visa statements, household insurance, taxation documents, etc.
The document must be dated within 6 months before the current date and the residence address must appear on the bill.
AvaTrade Demo Account
AvaTrade offers a demo account which lasts for 21 days. You get all the features of a real account but you trade in virtual funds.
These virtual funds have no real value and are just meant for practice purposes.
Demo account is useful for new traders or for traders that want to practice different strategies.
AvaTrade offers $100,000 in virtual funds. AvaTrade maintains the real market conditions in demo accounts.
The advantage of using AvaTrade demo account are many. Firstly, you get to practice trading without the risk of losing money.
When you transition to real trading, you can trade with confidence.
Another advantage of practicing in a demo account is getting familiarized with the AvaTrade real platform.
They have provided their demo trading environment in such a way it mimics the actual platform.
AvaTrade has two main types of accounts: Professional and Retail.
In addition to these two, there’s Islamic account for Muslim traders. We will take a look at the comparison between the professional and retail account in the table below.
Leveraged Trading 30:1
Negative Balance Protection: Yes
Segregated Account: Yes
Dispute Settlement Service: Yes
Risk Warnings: Yes
Leveraged Trading 400:1
Negative Balance Protection: Yes
Segregated Account: Yes
Dispute Settlement Service: No
Risk Warnings: No
The retail account is the standard account you open when you register with AvaTrade. The leverage for retail account holders is limited to 30:1.
You can enjoy the standard benefits of AvaTrade such as negative balance protection and segregated bank accounts.
Negative balance protection protects traders who have zeroed their bank balance to further losses.
Segregated bank accounts offer security and privacy as AvaTrade doesn’t get access to your assets in that account.
The difference between retail and professional arises in two cases. Firstly, in the case of a dispute over a trade, retail account holders are eligible to contact the Financial Services and Pensions Ombudsman Service.
Secondly, retail traders get risk warnings which professional traders don’t receive.
The professional account gets benefits such as increased leverage up to 400:1. Traders need to meet at least two of the three criteria listed below to be eligible for a professional account.
- Sufficient trading activity for the past year: You need to carry out transactions of significant size on markets offering leveraged CFDs, Forex and Spread betting. You need to maintain an average frequency of 10 transactions per quarter for the past 4 quarters.
- Relevant experience in the financial services sector: You need to have at least one year of professional experience in any position in the financial sector.
- Instrument portfolio of over €500,000: Your financial portfolio needs to be over €500,000 to open a professional account. The financial instruments include derivatives, debt instruments, and cash deposits.
Professional trading is only allowed for countries under EU regulation (Austria, Italy, Belgium, Latvia, Bulgaria, Lithuania, Croatia, Luxembourg, Cyprus, etc.)
In addition to these accounts, there’s also MAM accounts and Islamic accounts for AvaTrade traders.
MAM or Multi-Account manager allows traders to carry out block trades for an infinite number of sub-client accounts.
The MAM account is directly integrated with MetaTrader 4. MAM account has the following features:
- Place block orders from a master account.
- Expert Advisors and automated strategies are compatible with MAM accounts.
- Orders can be placed for an unlimited number of clients.
- You can group your trades for different strategies.
- Multiple allocations such as balance, lot, percentage and equity.
- You can trade with a partial close option.
- Client allocations begin with 0.01 lots.
- MAM accounts enjoy all MT4 order types: stops, limits, close all, take profit and trailing stops.
- Information on client list, client contact details, open trades and balances.
To set up a MAM account, you need to download the MAM software and set the license provided by the account manager.
For financial assets such as CFDs and Forex, holding a position overnight entails a fee called swap fee or rollover fee.
Basically, it is the cost of keeping a position open overnight. Since the swap fee is an interest fee, it creates a barrier for Muslim traders as interest is prohibited in Islam.
The Sharia law for Muslim forbids any transactions involving interest.
Some Forex instruments such as (ZAR, TRY, RUB, MXN pairs) are not allowed for Islamic accounts as these require interest fees.
The spreads may be higher for some Forex pairs in Islamic accounts so that is something to keep in mind.
For this reason, AvaTrade has opened an Islamic Account for Muslim traders which offer swap-free trading to comply with the Sharia law.
However, trading crypto is not possible for an Islamic account user. They have to switch to a regular account for cryptocurrency trading.
AvaTrade Mobile App
IQ Options offers its proprietary mobile app AvaTradeGO as well as the MetaTrader 4 mobile app. The mobile app offers all the features of the desktop app.
The app has a smooth and intuitive user interface. AvaTradeGO is offered on both the Android play store and Apple App store.
AvaTrade Trading Platform
AvaTrade offers multiple trading platforms to cater to all kinds of traders. They offer MetaTrader platform for web, desktop, Mac, and mobile as well as their own proprietary software for desktop and mobile.
In total, they offer 6 different types of trading solutions offered by AvaTrade. We will discuss each of them here:
MetaTrader is the most popular and powerful trading platform. It was developed by MetaQuotes Software and released in 2005.
AvaTrade offers to trade in MetaTrader. MetaTrader offers its platform in both desktop and mobile. It is supported by Windows, Mac, and Linux on the desktop.
For mobile, both android and apple are supported. MetaTrader is widely used and offers a powerful and flexible trading platform that traders are familiar with.
The MQL language can be used to program specific trading strategies. You also get endless expert advisers to assist you in auto trading.
You can also download ‘Guardian Angel’, which is a money management tool. This add-on will improve your trading by reducing risk and finding mistakes.
MT4 Web Trading
AvaTrade offers web trading by offering a web version of the MT4 trading platform.
The user interface is similar to that of the desktop MT4 version and you can find all the features.
You get the following features with MT4 web trading:
- Instant trading, Pending and Stop orders
- ‘One-Click’ Trading
- Multiple charting options
- Wide range of Analytical Tools and Overlays
- 41 Languages
- Supported across Chrome, IE and Firefox
You can trade your preferred assets using your MAC device. It uses the popular MetaTrader 4 trading platform.
You get the following benefits:
- Trade forex, commodities, indices, stocks & ETFs with up to 400:1 leverage
- Full range of order types, including pending orders & trailing stops
- Use automated trading strategies with full EA compatibility
- Multiple charting options and more than 30 different analytical tools
Automated trading allows new traders to copy or mirror trades from professional traders and learn trading from their actions.
There are two auto-trading solutions provided by AvaTrade:
DupliTrade: As the name suggests, it allows you to duplicated signals and strategies of other traders. It is compatbile with the MT4 trading platform.
ZuluTrade: ZuluTrade is a popular social trading broker. You can use it convert trading from there to your AvaTrade account automatically.
AvaTrade offers 2 mobile apps for their traders. One is the MetaTrader 4 mobile app and other is their proprietary mobile app AvaTradeGO.
If you are fan of the MetaTrader 4 interface, you can use their mobile app or you can try the innovative AvaTradeGO. The app provides real time feeds and sends social trends directly to your phone.
The app is user-friendly and has a nice layout. You will get helpful tips on how to the app. The best feature is that you can open and manage different MT4 accounts using the same control panel.
Both the MetaTrader mobile app and AvaTradeGO is available on both Android and iOS devices.
AvaTrade offer trading on Forex, Cryptocurrencies, and CFDs on ETFs, indices, bonds, stocks, and commodities.
Forex is a leveraged product and can be traded on margin. The Forex market is open 24 hours, 5 days a week.
AvaTrade offers more than 50+ Forex pairs which include all the major pairs along with some exotic pairs.
AvaTrade offers the lowest spreads on Forex pairs. Some of the popular Forex pairs include EUR/USD, GPB/USD, USD/CAD, AUD/USD, USD/JPY etc.
CFDs stand for Contracts for Difference. CFDs are leveraged financial products.
You can make money from both increasing prices (long) or falling prices (short). .
AvaTrade offers CFD trading on ETFs, Bonds, Stocks, Indices, and commodities
ETF stands for Exchange Traded Funds. It functions like mutual funds in the sense that it is a collection of assets such as stocks, bonds, commodities, and currencies.
These assets are then divided into shares and investors buy them.
Bonds are debt obligations i.e. they are a form of borrowing. AvaTrade offer leverage up to 20:1 on bonds. There is no commission on these trades and the spreads are competitive. You can trade bonds as CFDs with AvaTrade for the following treasuries:
- 5 year US T-Notes
- 10 year US T-Notes
- 30 year US T-Notes
- Euro Bond
- Japan Government Bond
You can trade basic Commodities as CFDs with AvaTrade.
Indices are a group of stocks that make up the index. AvaTrade offers a wide range of popular indices such as S&P 500, FTSE 100, NASDAQ 100, ASX 200, Nikkei 225, DAX 30 etc.
Stocks are shares of companies that are bought and sold in the stock market. This market can be either Over the Counter (OTC) or through a centralized market.
With AvaTrade, you get access to major stock exchanges such as NYSE, NASDAQ, and FTSE. You can enjoy leverages up to 20:1 on stocks.
AvaTrade offers more than 100 different types of stock including the major companies such as Apple, Google, Coca-Cola, and Barclays etc.
Cryptocurrencies are encrypted digital currency that is traded in a peer-to-peer network instead of a centralized network.
Currently, there are over 2000 different types of cryptocurrency in the crypto market.
AvaTrade offers popular Cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple, and EOS 24 hours a day, 7 days a week.
You can trade Bitcoin as CFDs using AvaTrade. Bitcoin was the first cryptocurrency introduced in 2009 by Satoshi Nakamoto.
It is also the most valuable cryptocurrency. You get 20:1 leverage when trading Bitcoin with AvaTrade.
There are no commissions or bank fees charged for transactions. Bitcoins are safe as it is not a physical currency. As a result, there is no chance of stealing or theft.
The Bitcoin market is volatile so there are frequent price changes which you profit from by either going short or long. You can also trade Bitcoin Gold and Bitcoin cash.
AvaTrade is unique in their approach of providing quality trading education to its traders. They have different sectors on trading education which includes:
Trading for beginners: This section contains guides on basic trading strategies, indicators, forex glossary, CFD terms. cryptocurrency, and general trading terms that every new trader must be familiar with.
Order Types: The three different types of orders are discussed here: market orders, limit and stop orders, and one cancel the others order.
Economic Indicators: In this section, the various economic indicators such as unemployment rate, interest rates, currnency strength, etc are listed and their impact on trading and asset price is also discussed.
Trading Videos: There are 6 categories of trading videos here: beginner lessons, assets and tools, trading strategies, advanced trading tools, trading platforms, and trading safely.
Ebook: By providing your name, email ID, and phone number, you get to download a free ebook on trading by AvaTrade.
SharpTrader: This is a premium education website offered by AvaTrade. It contains trading videos, technical and fundamental analysis, and trading tools.
AvaTrade users get a welcome bonus on signing up. To avail this bonus, you need to deposit at least $1000.
Depending on your deposit amount, you get 20% additional bonus. For example, if deposit $10000, you get $2000 bonus added to your account.
To withdraw the bonus, you need to carry out a minimum trading volume of at least 10000.
Also, your account needs to be funded and verified. You can contact with your account manager to check for this bonus availability in case you open a funded account.
Deposit And Withdrawals
Before you make your deposit, you need to verify your account by providing necessary documents such as any government ID (Driving license, ID card).
After that, you can use credit card or wire transfer to deposit. The minimum deposit fee is $100.
You can also use e-payment methods such as Skrill, Neteller, Boleto and WebMoney.
Withdrawing from AvaTrade is an easy and simple process. At first, you need to confirm and verify your account.
You need to provide the following documents to ensure verification:
- Any government ID, such as passport, driver’s license or ID card. Your photo must be clear and visible and your full name and date of birth must be present.
- Any utility bill such as water, electricity or gas bill to verify your address. The address and name should be on the bill.
- If you used a credit card for transactions, you need to provide a clear image of the back and front portion of the credit card showing the first and last digits of the credit card, CVV security code and the expiry of the card.
Once you verify your account, AvaTrade withdrawal process takes only 1-2 business days.
AvaTrade claims it can take up to 10 business days for the funds to reach your account.
One thing to note is that you need to withdraw 200% of your deposit using the same card, and only then you can switch your payment method.
You can credit card, wire transfer, Skrill, Boleto, Neteller and WebMoney as modes of withdrawal.
Contact & Support
You can contact AvaTrade’s customer support via email, telephone and live chat on their website.
Apart from this, they have over 35 hotlines over 5 continents offering customer support 5 days a week.
They have 11 regional offices in different countries from different contients therefore providing global support.
We are satisfied with their swift response to any kind of queries we had related to trading.
Their headquarters are located in: Dublin Exchange Facility, International Financial Services Centre (IFSC), Dublin 1, Ireland.
AvaTrade Pros and Cons
No broker is completely perfect. Every broker has some advantages and disadvantages.
We will list down the pros and cons of AvaTrade in this section.
- AvaTrade is regulated and authorized. This is the biggest deciding factor when it comes to choosing a broker.
- AvaTrade offers 250 trading instruments ranging from Forex to CFDs on indices, bonds, stocks, ETFs and Cryptocurrencies.
- Multiple trading platforms make trading flexible and convenient.
- Both automated trading and manual trading offered by AvaTrade.
- Mobile trading allows traders to monitor their trades anytime.
- Lowest spreads amongst all brokers.
- Multiple methods of payment such as credit card, wire transfer, Skrill, Neteller etc.
- Excellent learning and educational resources. Tutorial videos and eBooks on trading.
- AvaTrade has a dedicated website (www.sharptreader.com) dedicated to trading education.
- Offers limit and stop orders to protect profits.
- Uses 256 bit SSL encryption which makes the transactions secure.
- Offers Islamic accounts for Muslim traders. The trading is in accordance with Shariah law.
- Easy and fast withdrawals of the fund.
- 24/5 multi-lingual customer support.
- The affiliate program is one of the best amongst competitive brokers.
- Demo account is only limited to 21 days. Other brokers offer a demo account for unlimited time.
- Minimum deposit of $100 may be considered high by some traders.
- Fewer deposit methods than competitors.
Final Words: Is Avatrade Trustworthy Or A Scam?
AvaTrade has proven to be one of the market leaders by providing an award-winning platform that provides easy and hassle-free trading on Forex and CFDs. They offer low spreads and stop/limit orders to protect profits.
AvaTrade offers segregated accounts for secure transactions and 256bit encryption for added security.
Withdrawal is a quick and easy process. Hundreds of thousands of satisfied customers have given positive feedback on this platform.
From my own personal experience I can say you can trust AvaTrade for your daily Forex and CFD trading.