- Online Brokers
- Forex Trading
AvaTrade is a leading forex broker that was established in 2006 originally as AvaFX. Thanks to a widely expanding range of financial options over the years however, they eventually rebranded to reflect a more diverse offering. On launch, their original mission was to offer a customer focussed brokerage service with client satisfaction at the core of their work. It seems their original mission was an outstanding success with unprecedented growth across the board.
With 11 global offices (including their headquarters in Dublin), over 200,000 traders on their books and serving over 2 million trades a day, this broker is a textbook success story. And if that’s not enough, the firm are also regulated in five continents including Europe, Japan and Australia. Currently, this forex broker offer over 250+ financial instruments to trade on including the major currency pairings and cryptocurrencies.
But do all these numbers and stats actually equate to a worthwhile trading experience? In our AvaTrade review, we investigate this broker taking a deeper look at the tools, platform and overall service experience to answer one question: is your investment safe here?
Spreads and Fees
Unlike many brokers that offer a range of confusing account options, AvaTrade keep it simple offering the one account type, with some minor variations dependent on your trading background. You can also choose the type of cost structure when you create an account, making this a truly compelling option for traders. When you sign up to an account, you can either choose floating spreads or a fixed spread structure. Choose the former and you can really benefit from healthy market periods (resulting in lower spreads). However, in tough market conditions, you may experience rocketing prices. A fixed spread in this circumstance would actually be a far better option. Floating spreads start from just 0.7 pips on the EUR/USD pair and fixed spreads are set at 1.9 pips. Up to 400:1 leverage is available and can present a powerful opportunity to traders.
There are two other sub account types available for certain types of traders; for Muslim forex traders - we have a specialised Islamic account. With no SWAP or rollover fees to pay, these accounts are ideal for Muslim traders. And for more active traders, we have the special Ava Select program - if you have a high volume of monthly trading activity, then you can benefit from lower spreads and special perks.
AvaTrade offer clients a diverse range of platform options to choose from including the popular MetaTrader4 and their own proprietary software platforms. Their own software (AvaOptions) offers over 40 forex pairs to trade via a downloadable client or directly from the web. The platform offers detailed information about your current trades and gives access to fluid spot trading; the charting information is a little light but you can still benefit from some charting tools and technical indicators.
In all honesty, you are probably better off sticking with MetaTrader4, arguably the most advanced trading platform on the planet. Not only do you get access to the same advanced trading tools (one click trading, instant trading) but you also get to indulge in some of the most advanced charting options, which includes a wide variety of technical indicators and analysis tools. With MetaTrader4 you also get to benefit from expert advisor functionality, giving you the opportunity to employ algorithmic trading to automatically spot opportunities to trade.
While Ava Trade may have a somewhat lackluster proprietary trading platform on PC - their mobile offering is nothing short of fabulous. AvaTradeGO can be downloaded on either the Google Play Store or the Apple App Store and offers traders a complete trading experience . With a sleek user interface and clean menu system, opening trades is simple and easy. The app also gives you access to Market Trends - an exclusive in app tool available for mobile users. This tool gives traders access to social trading signals and can help to gauge market sentiment. All of these features, plus the opportunity to trade over 200 financial instruments and create custom watchlists makes the app a valuable tool for the busy mobile trader.
Without a shadow of the doubt, the most advanced and powerful trading tool available on AvaTrade is Autochartist - an award winning technical analysis resource available via the MetaTrader4 platform. This handy tool continuously scans the market non stop to identify valuable trading opportunities. Using advanced trend recognition technology - no matter your trading style, deep technical analysis is easy to perform.
Depositing money into your AvaTrade forex account is simple with a wide variety of methods accepted. Credit/debit card payments and bank wire transfers are available for all customer, while a range of e-payment options are also available including Paypal and Skrill. Aside from a few global exceptions, these e-payment options are available for all.
In terms of withdrawals, any transfers will need to be made back to the original depositing method - and this is due to anti money laundering regulations. If you take a bonus, keep in mind that there will be some requirements before you can initiate a withdrawal - in total, withdrawals should be processed within 10 days.
The hallmark of an outstanding broker is quality service in the event of a problem. In this respect, Ava Trade truly excel with multiple customer service options for you to quickly get help. For the fastest route to a representative, you will want to lean towards the live chat option. If you need even quicker support, we would suggest checking their highly detailed FAQ page - with a search option you can quickly type in a query and finding answers in seconds.
AvaTrade offer a comprehensive trading package to all types of traders. Comfort is a big component of the experience and the broker gives you all of the tools to build your perfect trading experience - even down to the types of spreads. Granted, their proprietary platform may not be that impressive - but with the excellent MetaTrader4 plus a sensational mobile app available, this broker makes for a compelling option.