avatrade broker review

AvaTrade Review

Pros and Cons
  • Low £100 Initial Deposit Amount
  • Fixed spreads offered
  • Upto 100% first deposit bonus
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KEY FEATURES
  • Min Deposit £100/ $100
  • Bonus Upto 100%
  • Leverage 1:400
  • Rating

Overview

AvaTrade is an established online brokerage first founded in 2006. Since this time it has grown rapidly, reportedly now servicing a trading volume in excess of $60 billion per month on behalf of its clients.

Headquartered in Dublin, Ireland, the company be considered truly international. Regional offices are located in Paris, Milan, Tokyo and Sydney. These support a wide range of trading solutions. Available for trading are Forex, Commodity trading and also CFD contracts.

Account Types

AvaTrade account types include both real and demo trading solutions.

The AvaTrade demo account can be opened easily online and comes with $100,000 of virtual funds. This provides both a useful introduction to the broker and a great way in which to test out your trading skills in the market.

Real accounts are available at four different levels. Each level confers additional benefits for the trader. These are accessed by a making larger initial deposit.

  • Silver – Access to educational webinars and courses, free withdrawals, live market news and blogs Also access to a Senior Account Analyst.
  • Gold – As the silver account with the addition of free daily market analysis and signals by Trading Central.
  • Platinum– As the Gold account with access to a a direct dealing room for transactions.
  • AVA Select – As the Platinum account plus a dedicated Senior Account Analyst and flexible trading conditions. Withdrawal time of just 24 hours.

Account opening is straightforward and in line with industry practice. As little as $100 deposit is needed  to start trading. Deposits can be made in USD, EUR, GBP or AUD, however you must specify which you want to use when first opening your account.

Trading Platforms

AvaTrade MT4 is the Metatrader offering from this broker. This is probably one of the most widely used trading platforms around. It’s key attraction is that it supports the use of custom technical indicators and expert advisers. It also features fast executions, multi-language support and some of the most advanced trading features you will find in a free trading platform.

Alternatively, clients can chose the Avatrade trading platform. This is a propriety dealing platform offering single click trading. It also incorporates live news and technical analysis feeds.

It is worth noting that AvaTrade spreads are fixed and as a result are rather more than you will find offered from brokers offering dynamic spreads. This means a slightly higher cost when markets are liquid, however you will potentially gain some security when trading during illiquid market conditions.

Deposits and Withdrawals

There are a number of ways in which to fund your account.  Credit and debit cards offer the fastest way to get your account up and running. It is also possible to use Bank wire transfers subject to standard processing times.

In addition a wide range of online payment processors are also accepted. Big names that you can use to fund your account include Skrill, Neteller, Western Union and Paypal.

One things you won’t need to worry about is AvaTrade withdrawal fee when you want to get your hands on your money. Withdrawals are free, though you will however need to verify your request and provide adequate. Requests are processed within 48 hours. Funds are generally credited to your account within 5 business days.

Education

Brokers are increasingly looking to educate and support their clients. AvaTrade proves to be no exception to this rule.

The Ava Select program provides trading clients with access to a wide range of online courses which can be used to build up a proficient knowledge of Forex. Due to these resources new traders

In addition daily market updates are provided detailing the latest moves across the markets. These include the latest news while also providing comment and possible opportunities to trade.

A detailed eBook entitled ‘Forex Trading Strategies’ is also available to new traders. This details several approaches which can be used to help identify the best trading opportunities to take.

Support

Avatrade support is generally good. The company has received a number of international recognition’s and awards for it’s services to traders over time.

A team of proficient multilingual  professionals are able to provide support in eleven different languages.  Supported languages include English, Arabic, Chinese, Dutch, French, German, Italian, Japanese, Portuguese, Russian and Spanish.

The support desk is available 24 hours a day, throughout the trading week. It can be reached via email and Live Chat although probably the fastest route is call support on one of the dedicated regional telephone numbers.

AvaTrade Verdict

Anyone looking to open an account with Avatrade should ultimately find themselves pleased with the experience. The company has been in existence for a number of years and over this time has built a solid reputation.

Our experience while trading with them has been good. The reliability of the platforms was good and in addition the customer support was responsive when needed.

The only criticism we would make is in regard to their spreads. Fixed spreads do however offer an element of security and many traders will prefer this when trading.

Key Features
SpreadsEUR/USD 3 pips (fixed)
Max Leverage400:1
AssetsCurrencies, Stocks, Indices, Commodities, CFD’s, ETF’s
Mobile TradingYes
Support24/7
Customer Services LanguagesEnglish, Arabic, Chinese, Dutch, French, German, Italain, Japanese, Portuguese, Russian and Spanish
Broker Information
Founded2006
HeadquartersFive Lamps Place
Amiens Street
Dublin 1
Ireland
RegulationCentral Bank of Ireland C53877, MiFID, ASIC, B.V.I, FSA, FSB
Telephone+1-212-941-9609
Emailcs@avatrade.com
Deposit Options
Min Deposit£100 / $100
Deposit CurrenciesGBP, USD, EUR, AUD
Deposit/ Withdrawal MethodsCredit/debit cards, Wire/Bank Transfer, NETELLER, Paypal, Western Union
Withdrawal TimesUpto 5 business days
Processing Charges5 free withdrawals per month

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