AvaTrade Review 2024
Website: www.avatrade.com
Min. Deposit: US$ 100
Leverage: 1:30 | 1:400
Trading Platforms: MT4, MT5, WebTrader, AvatradeGO, AvaOptions, DupliTrade, ZuluTrade, AvaSocial, Capitalise.ai
Regulation: Bank of Ireland, ASIC, JFSA, FSCA, CySEC, BVI FSC, FRSA, ISA
Headquarters: Dublin, Ireland
Founded: 2006
Regulatory Licenses:
- AVA Trade EU Ltd - authorized by Central Bank of Ireland registration no. C53877
- Ava Capital Markets Australia Pty Ltd - authorized by ASIC (Australia) registration no. 406684
- Ava Capital Markets Pty Ltd - authorized by FSCA (South Africa) registration no. 45984
- Ava Trade Japan K.K. - authorized by FSA (Japan) registration no. 1662 and FFAJ registration no. 1574
- Ava Trade Middle East Ltd - authorized by FRSA (Abu Dhabi Global Markets) registration no. 190018
- Ava Trade Markets Ltd. - authorized by BVI FSC (British Virgin Islands) registration no. SIBA/L/13/1049
- DT Direct Investment Hub Ltd. - authorized by CySEC (Cyprus) registration no. 347/17
- ATrade Ltd - authorized by ISA (Israel) registration no. 514666577
Updated on May 16, 2024
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Our comprehensive review process involves a detailed analysis of the broker's offerings, trading platforms, regulations, customer service, fees, and more. We compare AvaTrade against over 1000 brokers to ensure our recommendations are well-founded. Our team consists of experienced traders and financial analysts who use a mix of hands-on testing, user feedback, and in-depth research to provide an unbiased and thorough review.
AvaTrade stands out as a leading forex broker, serving over 200,000 clients globally and regulated across five continents. The broker offers advanced trading solutions to traders of all levels of experience, providing access to the forex market through a variety of flexible platforms, tools, and options. AvaTrade's commitment to delivering sophisticated trading solutions is evident in its comprehensive offerings, catering to the needs of diverse traders.
Pros
Heavily regulated with an excellent reputation
Userfriendly software and a wide range of trading tools
Multiple deposit and withdrawal methods
Advanced technology for a broad range of instruments
Cons
Limited customer support hours
Trading instruments restricted to Forex and CFDs
Our findings reveal that AvaTrade excels in regulatory compliance and offers an impressive suite of trading tools and platforms. The ease of account opening, coupled with diverse funding options, makes it a favorable choice for many traders. However, the limited customer support hours and the focus on Forex and CFDs could be potential drawbacks for some.
AvaTrade Review Summary in 10 Points
Headquarters: Dublin, Ireland
Regulation: Regulated by top financial authorities including the Bank of Ireland, ASIC, JFSA, FSCA, CySEC, BVI FSC, FRSA, and ISA
Platforms: Offers MT4, MT5, WebTrader, AvatradeGO, AvaOptions, DupliTrade, ZuluTrade, AvaSocial, and Capitalise.ai
Instruments: Features 250 trading instruments, encompassing over 60 currency pairs, major stock indices, cryptocurrencies, commodities, bonds, individual shares, and ETFs
EUR/USD Spread: A competitive spread of 0.9 pips
Demo Account: Available
Minimum Deposit: $100
Base Currencies: Offers 5 base currencies
Education: Provides superior-level educational materials including eBooks, videos, webinars, and more
Customer Support: Available 24/5
Overall AvaTrade Ranking
AvaTrade achieves an impressive ranking of 4.65 out of 5, standing out among over 1000 brokers evaluated. The broker's reputable status is underscored by its safe and favorable trading conditions, low initial deposit requirements, and wide global coverage. AvaTrade's competitive spreads further enhance its appeal to both novice and professional traders.
Since its inception in 2006, AvaTrade has experienced tremendous growth, with global clients executing over two million trades monthly across 250 instruments. The broker's commitment to excellence has been recognized with numerous industry awards, reflecting its strong position and reputable status in the forex trading market. These accolades, along with AvaTrade's innovative trading technology and service excellence, underscore its achievements in the industry.
Our thorough analysis confirms that AvaTrade is a secure and legitimate broker, not a scam. Regulated by top-tier financial authorities such as ASIC, CySEC, and licensed by the Central Bank of Ireland, AvaTrade ensures a secure trading environment. The broker's adherence to strict regulatory requirements, including funds segregation and negative balance protection, further establishes its reliability and safety for forex and CFD trading. Our trust score for AvaTrade is 4 out of 5, reflecting its longstanding reputation for reliability and regulatory compliance.
Leverage is well-recognized as a powerful tool that essentially amplifies the initial capital you are trading with, potentially increasing your profits significantly if used wisely. Nevertheless, it's crucial to understand that higher leverage can also amplify losses. Our exploration into AvaTrade's offerings reveals that leverage options vary based on the trader's location and the type of asset being traded.
For European clients, the maximum leverage is set at 1:30.
Australian clients are also limited to a leverage of 1:30 due to recent regulatory changes.
International traders have the advantage of accessing higher leverage, up to 1:400, depending on the instruments they choose to trade.
The risk associated with trading is influenced by various factors, including leverage, which significantly elevates the potential to incur losses. Through our extensive research, encompassing over 1000 brokers, it's evident that AvaTrade, as a regulated broker, adheres to differing trading conditions and regulatory requirements based on the jurisdiction. This compliance means that European traders or clients registered under AvaTrade's European entity are subject to ESMA regulations, which have imposed leverage limits.
AvaTrade offers a diverse range of account types to cater to various trader needs and preferences. The broker's portfolio includes:
A single Standard account, with options for a corporate account or a Swapfree Islamic account, alongside a Demo account for testing the broker's environment.
The Retail account, essentially similar to the standard account but tailored for traders residing in Europe.
A Professional account, accessible to traders with significant experience and relevant qualifications, offering additional benefits.
The MAM account, designed for money management and operating multiple accounts simultaneously.
Opening an account with AvaTrade is streamlined and fully digital. Following account approval, traders can deposit funds using multiple methods, setting the stage for a successful trading journey.
AvaTrade distinguishes itself by offering an extensive array of trading instruments across various platforms. The broker provides access to over 250 trading instruments, including:
More than 60 currency pairs.
Major stock indices, cryptocurrencies, commodities like gold and silver, bonds, individual shares, and ETFs.
AvaTrade's market range score stands impressively at 4.3 out of 5, highlighting its broad selection of trading instruments across Forex, Stocks, Commodities, Cryptos, and more.
Cryptocurrency trading is a notable feature, with AvaTrade supporting pairs involving Bitcoin, Ethereum, Ripple, and several others. Cryptocurrency trades are facilitated with competitive spreads, no commission charges, leverage up to 20:1, and an entry threshold as low as $100.
AvaTrade imposes trading charges on transactions, primarily through spreads and overnight fees. Our comparative analysis, against over 1000 brokers, ranks AvaTrade's fees as average, with an overall score of 4.1 out of 5. This assessment reflects a balance between costs and the value provided, with AvaTrade's fee structure deemed competitive within the industry. Fees vary by entity offering but are generally considered favorable, encompassing CFD spreads as the main charge or commissions where applicable. Additional fees may include conversion fees for accounts held in different base currencies and inactivity or non-trading fees.
AvaTrade's spreads stand out as competitively low or average when matched against peers and competitors in the forex brokerage industry. It's important to remember that these fees are indicative and can expand under volatile market conditions, particularly with cryptocurrencies, where spreads fluctuate based on market dynamics. AvaTrade incorporates all fees within the spread, exemplified by the EUR/USD pair's typical spread of 0.9 pips, representing the difference between the bid and ask prices. Upon evaluating against over 1000 brokers, AvaTrade's spread fees are deemed low, receiving a score of 4.0 out of 5. Our analysis reveals that Forex spreads are notably below the industry's average for EUR/USD at 0.9 pips, with other instruments also presenting appealing spreads.
AvaTrade supports a diverse array of payment methods for account funding, including Visa/MasterCard, Skrill, PayPal, Neteller, Wire Transfers, Perfect Money, and Boleto Bancário, ensuring swift fund transfers. The ease of accessing funds and the simplicity of initial bank account deposits are crucial for options trading. AvaTrade's funding methods are rated highly, scoring 4.3 out of 5. The broker maintains an industry-standard minimum deposit, with negligible to no fees, and offers the advantage of various account currencies, though available deposit options may vary by entity. Here's a closer look at AvaTrade's funding nuances:
Pros
Offers a broad selection of payment methods
Cons
Deposit options may differ based on regulatory restrictions
AvaTrade sets its minimum deposit at $250 for Credit/Debit Cards and $500 for Bank Wire, with the possibility of lower initial deposits starting at $100 depending on the trading entity, which is competitive compared to other brokers' standard of $500. Importantly, AvaTrade levies no internal fees for deposits or withdrawals, processes withdrawal requests within 24-48 hours, and supports a wide range of payment methods. Withdrawal timings may extend due to regulatory and international transfer protocols.
Our extensive research highlights AvaTrade's comprehensive suite of trading platforms and tools, accessible via Web, Desktop, and Mobile Apps, earning a high score of 4.3 out of 5. The offerings, including MT4 and MT5, are tailored for professional trading and come equipped with excellent research and tools. AvaTrade's commitment to empowering traders is evident through its innovative WebTrader, an ideal platform for both novice and seasoned traders due to its intuitive interface and design. For those preferring desktop solutions, AvaTrade's Desktop Platform integrates seamlessly with MT4/MT5, offering both auto and robot trading capabilities and the option for fixed or variable spreads. Auto trading is further facilitated through platforms like DupliTrade and ZuluTrade, renowned for their social trading features. The mobile trading experience is enhanced by AvaTradeGO, praised for its user-friendly dashboard and comprehensive toolset.
AvaTrade excels in customer service, offering 24-hour live support through live chat, email, and phone in over 14 languages. Our findings rate AvaTrade's customer support as excellent, with a score of 4.7 out of 5, based on the responsiveness and knowledgeability of its support staff compared to competitors. AvaTrade stands out for the ease of access to its customer service and the breadth of its free-of-charge contact options globally.
AvaTrade invests significantly in trader education, offering a rich repository of materials including articles, eBooks, and videos suitable for beginners and intermediate traders. The education center is continually updated, covering all facets of Forex and CFD trading with live webinars, technical analysis, and a variety of educational tools. Based on our research, AvaTrade's educational offerings are ranked highly, scoring 4.5 out of 5. The broker is recognized for its high-quality educational content and research, in collaboration with leading market data providers.
Our comprehensive review concludes that AvaTrade is a reliable and safe broker, offering diverse trading solutions and maintaining a reputable and respected stance in the market. AvaTrade's flexibility in platform choices, currency pairs, and the breadth of solutions provided stands as a significant advantage. With competitive costs, and outstanding educational and research materials, AvaTrade is well-suited for a range of traders, including:
Beginners
Advanced traders
Those preferring MT4/MT5 platforms
Algorithmic or API traders
Copy trading enthusiasts
Currency and CFD traders
Traders employing a variety of strategies
Scalpers and hedgers
AvaTrade distinguishes itself with excellent customer support and educational resources, making it a commendable choice for traders at different levels of experience.
