|⚖️ Regulations||MiFID, Central Bank of Ireland, FSA, ASIC, BVI, FFAJ, FSCA, ADMG – FRSA|
|💰 Type of broker||ECN/STP|
|💰 Minimum Deposit||$500|
|💰 Maximum Leverage||1:400|
|📊 Type of platform||MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based|
|💳 Deposit with credit card||Yes|
|👛 Depositing with wire transfer||Yes|
|🎮 Demo account provided||Yes|
|🛍️ Instruments traded||CFDs, Commodities, Metals, Stocks, Oil, Gold, Indices|
|Open An Account||Avatrade.com|
AvaTrade is one of the leading, globally presented broker with over 200,000 trusting clients worldwide.
It’s regulated on 5 continents providing customers with sophisticated trading solutions, regardless of user knowledge or experience, by bringing the possibility to enter the market trade through numerous, adaptable platforms, tools, and options.
Furthermore, AvaTrade is a multi-national company, which headquarters in Dublin, Ireland but operating regional offices.
These including entities in Paris, Dublin, Milan, Madrid, Tokyo, Beijing, and Sydney, as well as in South Africa, Chile, Mongolia, Nigeria, and newly established UAE brokerage.
|Heavily regulated broker with an excellent reputation||Phone support not available 24/7|
|Forex and CFD Cryptos offered|
|Great trading tools|
|Fast digital account opening with Demo account|
|Wide range of deposits and withdrawal options|
|Quality customer support with live chat and fast response|
Is AvaTrade legit?
As a multi-regulated company, Ava follows strict rules of the Client Asset Regulations and procedures, which are obtained from the main parent company license issued by the Bank of Ireland and other regulations.
So, Yes, AvaTrade is a fully legitimate and regulated broker in each jurisdiction, as hold necessary licenses and regulatory obligations apart from its main establishment standards regulated by Ireland. This information you may check from the official AvaTrade website, as well as through the authority website.
|Heavily regulated international broker||Not listed on Stock Exchange|
|Cross border licenses and global coverage|
|Negative Balance Protection applied|
- AvaTrade EU Ltd – authorized by Central Bank of Ireland registration no. C53877
- Ava Capital Markets Australia Pty Ltd – authorized by ASIC (Australia) registration no. 406684; regulated by the South African Financial Sector Conduct Authority FSCA No.45984
- AvaTrade Japan K.K. – authorized by FSA (Japan) registration no. 1662 and the FFAJ no. 1574
- Ava Trade Middle East Ltd – authorized by FRSA (Abu Dhabi Global Markets (ADGM)) registration No.190018
- AVATrade Ltd – authorized by B.V.I Financial Services Commission
How are you protected?
The set of regulatory requirements enables protection to the clients and including – funds segregation, means all client funds are held separately from the firm funds with international banks under encryption.
Security of the traders accounts for Investor Protection amount and Compensation Schemes in case the broker goes bankrupt, which is slightly different in each jurisdiction.
A limited choice of different account types is offered, depending upon which branch of AvaTrade you are opening your account with.
Accounts are divided into two types: those servicing residents of the European Union, and those servicing person resident outside the European Union.
All accounts offer a market-maker / dealing desk execution type.
European Union residents have a choice between a Retail Account, a Professional Account, or a Spread Betting Account, although the Spread Betting Account is only available to residents of the U.K. and the Republic of Ireland.
In order to qualify for a Professional Account, clients must meet the ESMA regulation requirements which can be found on AvaTrade’s website. Professional clients can avail themselves of better spreads than retail clients.
The only difference between a Retail Account and a Professional Account is the maximum amount of leverage available for use. Retail Account holders are restricted to the European Union’s legal limit of 1:30 on Forex instruments (for the safety of the trader), while Professional Accounts holders may utilize leverage as high as 1:400 on Forex instruments.
The only real difference between Spread Betting and Retail Accounts is in the way position sizes are measured, but the costs and accessibilities are the same. Profits on spread betting can be tax-free for residents of the U.K. and the Republic of Ireland.
Residents outside the European Union are directed towards the Standard Account. These persons can enjoy maximum leverage as high as 1:400 on Forex instruments.
Anyone may open a VIP Account if they deposit a sum greater than €10,000. This account offers lower spreads than other account types do.
A Crypto Account is available for clients worldwide wishing to trade cryptocurrencies.
An Islamic Account, where no overnight swaps are paid or charged, may be opened by Muslim traders requesting this account type.
A Vanilla Options Account is available to those wishing to trade options, using AvaTrade’s VanillaOptions trading platform.
All AvaTrade account types offer variable spreads.
The minimum deposit for all account types, except the VIP account, is $100. Deposits may be made in USD, EUR, CHF, GBP, or AUD (the latter is only an option for residents of Australia).
All AvaTrade account types utilize the MetaTrader 4/5 trading platform, except the Options Account which must be used in conjunction with AvaTrade’s proprietary AvaOptions trading platform.
Leverage is an important topic to consider when evaluating a Forex / CFD brokerage. AvaTrade’s position on leverage is determined by whether it is servicing customers resident within the European Union or not.
For European Union residents, AvaTrade offers a maximum leverage of 30:1 on Forex, 1:20 on indices, 1:10 on commodities, 1:5 for individual stocks and shares and ETFs, and 1:2 on cryptocurrencies.
For residents outside the European Union, AvaTrade offers a maximum leverage of 1:400 on Forex and indices, 1:200 on commodities, 1:20 for individual stocks and shares and ETFs, and 1:20 on cryptocurrencies.
Every type of account offered by AvaTrade allows hedging, scalping, and automated trading via Expert Advisors. As AvaTrade uses the MetaTrader 4 trading platform for all its assets except Vanilla Options, there is a wide range of automated tools available which works with these platforms, and AvaTrade does not block or disable them.
The list of forex, CFD and options trading instruments is impressive while the addition of 8 cryptocurrencies provides new opportunities for high-risk speculators.
CFDs include a basic selection of commodities and bonds as well as 69 shares and 5 ETFs, dominated by highly liquid US big tech stocks.
UK and Ireland traders can open spread betting accounts as well, rounding out a full-featured investment product catalog.
AvaTrade continues to expand its range of markets, the scope of trading tools, and the number of licenses under its regulatory umbrella. The following table summarizes the different investment products available to AvaTrade clients.
|Forex: Spot Trading||Yes|
|Currency Pairs (Total Forex pairs)||55|
|CFDs – Total Offered||722|
|Social Trading / Copy-Trading||Yes|
|Cryptocurrency traded as actual||No|
|Cryptocurrency traded as CFD||Yes|
Overall, AvaTrade’s spreads are not its most competitive feature, as the average spreads on its variable pricing are higher than those of its pricing competitors.
|Minimum Initial Deposit||$100.00|
|Average Spread EUR/USD – Standard||0.91 (August 2020)|
|All-in Cost EUR/USD – Active||0.61 (August 2020)|
|Active Trader or VIP Discounts||Yes|
Spreads: With variable pricing, AvaTrade offers typical spreads of 0.9 pips (median value derived from spreads during trading hours – 7:00-18:00 GMT – for the four weeks ending November 28th, 2019). Compared to our testing last year, AvaTrade’s spreads had slightly improved although it’s worth mentioning that AvaTrade also reintroduced fixed spread pricing which helped reduce its spreads.
|Asset/ Pair||HYCM Fees||OctaFX Fees||AvaTrade Fees|
|EUR USD||1.2 pips||0.5 pips||1.3 pips|
|Crude Oil WTI||6 pips||2 pips||3 pips|
|Fee ranking||Low, Average||Low||Average|
Research & Education
AvaTrade’s education offering is solid overall. While any Forex / CFD brokerage might produce a good all-round offering without offering research or education at all, that is not to say that trader education is not a “nice to have” if it is done well.
The first sub-section offers “trading for beginners”. It contains several precise articles that explain succinctly the basic concepts and procedures of trading Forex and CFDs.
AvaTrade takes education very seriously, and it is easy to see this because they have invested in creating their own “trading academy”, known as “Sharp Trader”. Sharp Trader is an exclusive, restricted, registration-only academy for members which includes:
- Videos covering a wide range of trading topics.
- Daily Technical and Fundamental analysis pieces on major currency pairs written by AvaTrade’s team of expert analysts.
- Analytical videos.
- A range of trading tools.
The sharp trader is good by the standards of academies created by Forex / CFD brokerages. It also includes some limited research content.
Other items available within AvaTrade’s education section include a free eBook, over 50 video tutorials, and glossaries of the important economic data releases and order types. These latter two items are important to understand and are easily misunderstood, so new traders will be able to learn something useful from these items.
So getting to AvaTrade customer support it provides 24-hour live support available through live chat, email, phone support in 15 languages.
Eventually, AvaTrade offers some of the greatest quality support with fast and reliable answers and a huge range of free of charge lines all around the world.
|Quality customer support with live chat||Phone support not available 24/7|
Deposits & Withdrawals
Deposits – AvaTrade offers its clients a variety of deposit options. Traders may fund their accounts with credit cards (VISA, MasterCard, debit), Bank Wire Transfers, and numerous forms of E-Wallets such as Paypal, Skrill, NETELLER, and WebMoney. The minimum initial deposit for opening up an account is only $100.
Withdrawals – Traders can withdraw their funds via the same methods used for deposits. Withdrawal requests will take up to 5 business days to process. Once processed, withdrawals will be completed as soon as the methods allow them to be completed. The fastest method of withdrawal is by using the Ava Debit Mastercard, which traders can apply for once signed up for an account.
How can I start trading with HYCM?
Opening an account with AvaTrade only takes a few minutes and it can be done 100% online. Various countries allow their residents to open an account with AvaTrade. Exception is a small list that includes the United States, Belgium, and Iran, Israel.
There are four types of accounts that can be opened with AvaTrade:
- Standard Account: held by an individual
- Corporate Account: held by a company
- Islamic Account: this account does not charge swaps
- Professional Trading Account: This account allows for higher leverage ratios for forex and CFD trades but it requires significant experience in the financial sector, such as prior investment experience, a track record of significant trading activity, and a portfolio of at least €500,000
Overall, AvaTrade Review shows us a broker with an expanded trading strategy available and a certain way of dealing with the market and clients that gained a reliable and respected reputation. Ava flexibility in terms of platforms, currency pairs, and a number of provided solutions is another key advantage to their positive side.
The broker offers competitive costs and excellent education material suitable for traders of different levels. While Ava continues to expand its trading range and capabilities you, as a trader, may gain multiple options for investment or trading all accompanied by a great reputation.
What we also like is AvaTrade high-tech access to an expanded range of the instrument and multiple platforms either for manual, algorithmic, or social trading.
Apart, AvaTrade is an active social member company that supports numerous activities and other global strives. One of them is a partner with Manchester City premier league champions. This is always a good plus, meaning the company maintains an excellent reputation not only in its direct area of business but beyond as well.
So all in all, within our AvaTrade for us it becomes clear from numerous favors that AvaTrade is a good choice for beginning or veteran traders. Indeed, its competitive conditions having all the potential to turn into an exciting collaboration.
“There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.