AvaTrade Review 2018
AvaTrade does not accept new customers from US.
We recommend you check out our top rated list and sign up at another provider instead.
- US Traders
- 60+ Pairs
- 1-2 Day Payouts
- Mobile Friendly
- Low Deposit
Launched in 2006, AvaTrade are more established than many other Forex brokers. During this time, their registered account holders has reached 200,000 in countries across the world. With their Headquarters in Dublin, Ireland, and many offices around the world, AvaTrade is licensed and regulated by a number of global, recognised authorities including ASICS (Australia) and CBI (EU).
They offer many benefits to both the new and experienced trader looking to enhance their Forex trading skills. There are many assets to choose from with competitive spreads and good leverage. In addition to the usual benefits such as a free demo account and welcome bonus, they also offer an advanced trading experience with a choice of trading platforms.
If you are considering opening an account with AvaTrade, you probably have many questions which we endeavour to answer. Our detailed broker reviews offer you the chance to look at this broker in greater depth without having to find the answers to your questions yourself. Trust our experts to answer your questions for you and make an informed decision about whether this is the broker for you.
Is AvaTrade the online Forex broker for you? In this review, you will learn about:
- Trading features offered by the broker to all their their Forex clients
- The minimum deposit and other requirements for opening an account and trading
- All the licenses that AvaTrade hold from the various regulatory worldwide bodies
AvaTrade don't have a long list of accounts with various options for their traders depending on the size of the deposit. They offer one account; the Standard Account:
You can open a Standard Account regardless of your experience or investment. You don't have to be an experienced trader, you can deposit $100 to benefit from the same features of the trading platform as everyone else.
Now a popular offering among many Forex brokers, the demo account affords you the chance to practise. Based on a simulated version of the live platform, the AvaTrade demo platform will give you the chance to get familiar with Forex trading without risking your own funds.
Trade Features And Payouts
To stay competitive the features of the platform are often where a client is won or lost. There are a variety of features that we look at when it comes to Forex trading:
If you don't have a large balance to invest, you can multiply your investment with leverage. Many brokers offer this function to allows you to build up your capital. The leverage available with AvaTrade is 1:400. It should be noted that if you are going to use this feature you could risk your investment and should know what you are doing before you start.
The spreads on offer are competitive and are based on the currency that you are trading with. Spreads of 0.8 pips can be achieved. For the EUR/USD pair you will get 1.50 pips for floating and 1.90 pips for fixed spreads.
As you can't always be online, sometimes you need the opportunity to exit a trade when a certain limit is reached. You can do this with the Stop Loss feature. Once your trade reaches a certain position, the system will automatically exit the trade.
Where do we start with the AvaTrade trading platform? Well there are a number of options to choose from. Each platform type suits a specific trading requirement:
Bonuses And Promotions
You have to dig deep to look for the bonuses offered by AvaTrade. They do offer bonuses but it isn't clear on their website. There is a timed promotion which runs for the current month. At the time that this was written the current promotion allowed you to calculate your investment and the bonus you would see in return. For a $1,000 investment, you would receive $350.
They also state that they offer a welcome deposit bonus of 100% for $100 deposit but the promotions seem to be offered for those who find them. Bonuses of up to £10,000 are available.
If you are looking for a good mobile trading experience then you will find it with AvaTrade. Not only do they offer the MetaTrader 4 experience for mobile users, they also offer AvaTrade GO which is an app specifically designed for those who prefer to trade on the move.
The choice is down to your personal preference. Some people prefer to use the Safari or Chrome based option which will often require you to log in. Others prefer the app with its simple features and the notifications. Whichever you choose, as long as you have an internet connection and a phone or tablet, you will be able to trade Forex from wherever you are in the world.
Deposits And Withdrawals
Like most brokers, AvaTrade accept a variety of payment options to fund your account. If you have a major credit or debit card like Visa or Mastercard you can fund your account and start trading immediately. There are also the options to use electronic wallets. Most of these will give you instant access to your money as well.
When it comes to withdrawals, you will need to request the withdrawal which will then be sent back to the source you used to fund the account. The withdrawal processing time will vary depending on the account you are using and you may be charged a withdrawal fee. Please be aware that you cannot withdraw a bonus until it has been traded a number of times. Some brokers only allow you to withdraw the profits and not the actual bonus.
AvaTrade are competitive when it comes to trading but there are some special features that make them unique or at least even more competitive. In the main it seems to be their global presence that sets them apart:
Forex Site Reviews
As a new trader, this may be one of your primary concerns. Is the broker accessible and what do you do if you have a problem or query? Well the answer is simple. The customer support team are on hand to answer your questions and can be contacted in a number of ways. Right at the top of the site you will see the number for the country that you are in alongside a live chat link. You can choose your preferred method to contact a member of the team.
In addition to this is a "contact us" tab and an "FAQ" section. The "contact us" tab will bring up a form that you can fill in with details of your query and your contact details. There is also a comprehensive list of international numbers so that you can choose the most relevant one for you.
If you are looking for a good trading experience whatever your device, then AvaTrade certainly ticks all of the boxes. You can trade from the web or trade on the move with their advanced app. They offer lots of competitive features and in addition to their demo account there are also bonuses and promotions.
When it comes to reliability, the fact that AvaTrade hold so many licenses should instil you with the confidence that you need to invest your money. With a minimum deposit requirement of $100 at least you can try the broker and get an idea of the trading experience before you invest huge sums. The customer support is detailed and the company, with all their addresses and phone numbers, are certainly visible. If it's a good all-round trading experience that you are looking for then AvaTrade is a good choice.
Reviewed by: ForexTradingExpert.net
Frequently Asked Questions
Is AvaTrade legit, will they scam me?
AvaTrade are certainly one of the more established Forex brokers, having been trading since 2006. They are not only well established but also hold many licenses from regulatory bodies around the world including ASIC (Australia), CBI (EU), FSC (BVI), FSB (South Africa) and FSA (Japan). This alone can give confidence that if you choose to invest with AvaTrade, your money will be in safe hands.
Do they have a decent mobile or tablet app?
They not only have an app, they have a choice of apps. They also offer mobile trading from Safari/Chrome. Their platforms are dedicated to providing the best user experience possible, whether that be web trading or trading on the go. The decision will be whether you choose to use their mobile trading or platform or one of their choice of apps. Needless to say, if it is trading on the move that you are looking for, AvaTrade provide it.
What bonus do they offer for new traders?
The bonuses depend on what month it is and what offers are available. There seems to be some form of bonus depending on the amount you deposit and how you find it. If you come from a search engine and type in "AvaTrade bonus", you will see an offer for a 100% matched bonus on $100 with bonuses available of up to $10,000. On the website, you can find a calculator that allows you to work out your bonus depending on the size of your deposit.
Can I start trading on a free demo account?
Yes, if you want to try the platform before you invest any money you can use the AvaTrade free demo account. This is a good way to get familiar with the platform before you decide if it is the one for you. Sometimes the various functions and charts can take some getting used to so a simulated version of the live platform will allow you to get comfortable with the trading environment.
What's the min. deposit and ideal trade amount?
If you are looking to open an account with this broker then you will need a minimum deposit of $100. This will give you a Standard Account which is the only type that the broker offers. You will have the same access to all aspects of the platform as other traders. When it comes to how much you should invest on each trade, it is recommended that you spend 1% of your account balance so if you have $500 then the ideal amount per trade would be $5.
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