Quick Wrap up
AvaTrade is an established online broker for CFD and Forex Trading. It has a built-in trading platform and also offers MT4, MT5. Its trading platforms support browser, desktop, and mobile apps. Trading costs with AvaTrade are competitive. It has a modest range of trading products. It offers comprehensive negative balance protection for its customers worldwide. On the flip side, it is still a privately held company and not regulated by FCA in the UK. Its limited product range is also a pitfall. Overall, it offers a great trading platform for beginners as well as advanced traders.
AvaTrade is one of the pioneering online brokers. It is a Forex and CFD broker platform. It has an established history and reputation since its inception in 2006. Its headquarter is in Dublin Ireland.
AvaTrade offers competitive spreads and trading costs. It offers a broad range of Forex, CFD Stocks, and Cryptocurrencies. Account opening is fully digital with 5 base currencies. The minimum account opening amount is only 100 in the base currency. It comes with several Deposits and withdrawal options with no fees.
AvaTrade is still a privately held company. It does not hold a banking license yet as well. However, it is regulated by different regulators in several countries. It offers negative balance protection to all of its customers in all jurisdictions.
AvaTrade has a built-in trading platform AvaGo. It also offers the familiar MT4 and MT5 trading platforms. These trading platforms support windows, desktop, and mobile applications.
Account opening and availability
The account opening process with AvaTrade is fully digital. You can apply for a new account online by providing relevant information. The minimum account opening balance required is 100 of the base currency you choose.
New customers can open a 21-days Demo account as well. It offers a great trading experience for novice traders. The Demo account gives you access to the trading platform with $ € £ 100,000.
Customers can add multiple trading accounts with different trading platforms. For instance, you can add one account with AvaTradeGo and another one with MT4 or MT5. You have the option of opening a trade account in 5 base currencies.
With AvaTrade customers can open different types of accounts including:
- Standard account
- Professional Trading Account
- Islamic Trading Account
- Corporate Account
AvaTrade is available to customers in most countries globally. The notable exceptions are the US, Canada, New Zealand, and Iran.
Products and markets
AvaTrade is a forex and CFD trading platform. It offers a broad range of trading products with over 1,000 financial instruments.
Trading products at AvaTrade include:
- Forex – 55 Currency Pairs
- Stock CFDs – 600+ stocks
- Bonds – 2
- Individuals Stocks – None
- Commodities – 27
- Cryptocurrencies -
- Stock Indices - 33
- FX Options – 44
- ETFs – 60
- Cryptocurrencies – 16
AvaTrade covers most types of trading products. However, it does not offer the popular options of individual stocks, mutual funds, and direct ETF investments. EU clients have access to selective products. The FCA had announced a cryptocurrency trading halt after January 2021 in the UK.
Online brokers charge for trading and non-trading costs. Trading costs can include the spreads and overnight interest charges. While non-trading costs can be in the form of account opening fees, withdrawal and deposits, account maintenance, and inactivity fee, etc.
AvaTrade does not charge for account deposits and withdrawals. Customers can choose from 5 base currencies to save on the currency conversion charges as well. The account inactivity fee is $50 after 3 months and an additional fee of $100 after 12 months to reactivate the account. The account inactivity fee is on the higher side as compared to other brokers.
The trading costs with online brokers are embedded with spreads and overnight funding charges. Different financial instruments offer varying levels of spreads and margins.
Security and regulations
AvaTrade is an established online broker with a good market reputation. It was founded in 2006 and is regulated by different international regulators. For trading platform security, it only offers a single-factor authentication login, which is a little drawback these days.
AvaTrade is regulated by different regulators including:
- The Central Bank of Ireland
- The Australian Securities and Investments Commission (ASIC)
- The South African Financial Conduct Authority
- V.I. Financial Service Commission
- The Financial Service Agency in Japan
- The Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA)
Currently, customers registered under the central bank of Ireland have investor money protection of up to € 20,000. No other regulators of AvaTrade provide investor money protection. However, AvaTrade provides negative balance protection to all of its customers.
AvaTrade has a dedicated built-in trading platform as well as a third-party developed one. It provides traders with a lot of flexibility and ease of use. AvaTrade has its own trading platforms Web Trading, Ava Social, and AvaTradeGo. The Third-Party trading platform options include the MT4 and MT5.
Let us briefly explore each trading platform and its features on offer from AvaTrade.
Web Trader is the flagship trading platform by AvaTrade. It offers support in various international languages including English, Hungarian, Swedish, Dutch, French, Chinese and Russian.
Web Trader offers access to customers through a browser. Customers can access all trading features including orders, research, news, funds transfers, withdrawals, and so on.
Web Trader comes with a simple and intuitive user interface. You can access the account with single-factor authentication, which is a little drawback as most trading platforms come with two-factor authentication.
Some key features to expect with Web Trader:
- Simple and uncluttered user interface
- Search option for markets and products
- Crows following with AvaSocial
- Loss protection with AvaProtect feature
- Alerts and Notifications
- Fee and Trading portfolio reports
AvaTradeGo is the mobile application of its web trader version. It supports both IOS and Android platforms. Customers can enjoy all trading features from the mobile app.
Customers can follow the community trading trends with AvaSocial on the mobile app as well. Simplicity and ease of use are the key features of AvaTradeGo mobile application.
Some key features to expect with AvaTradeGo include:
- Simple and Clean interface
- Single-factor user login
- Product search feature
- Comprehensive trading tools such as clear charts, search, market news, and alerts.
- Real-Time Market news and analyses with sophisticated technology.
Social trading has become a common theme with most trading platforms these days. Most online brokers offer the option of following community and expert traders. AvaSocial is also a social trading platform that lets you follow experts and top traders in your groups.
Social trading can help novice traders to learn and follow the best trading trends. However, advanced traders can also use the tool to follow the expert traders.
Here are some key features of the AvaSocial trading feature:
- Option to create or join trader groups
- Follow and copy community and expert traders
- Earn rewards for trading through AvaSocial
- Learning through communication and questions from experts
- Legally compliant social trading with Pelican Trading to allow traders to sell trading signals within social groups
- Social trading allows 24/7 market access with a global community
If you want to trade specifically in Options, AvaTrade has got you covered. AvaOptions is the dedicated platform for you to trade Options. It is currently available in the English language only. It comes with Desktop and Mobile application versions.
AvaOptions offers standard trading features that are available on the AvaTrade platform with its web and mobile apps. Some features specific to AvaOptions are:
- Fully customizable interface with drag and drop feature
- Live FX Options Trading Widget for real-time alerts
- Call and Put options with stop and limit orders
- 40+ currency pairs
- Apply multiple trading strategies such as Straddle, Strangle, Reversals, and Spreads
Automated trading can be helpful for novice traders. Beginners can use the Automated trading feature to follow and copy the expert traders. Along with social trading, automated trading can be of great benefit to beginners.
Expert traders can also utilize automated trading features to save time and money. AvaTrade comes with special automated trading features that can help traders with automation.
It lets you copy and automatically implement the trading strategies of expert traders. Zulu trade is a widely used tool to convert recommended trade strategies into implemented orders.
DupliTrade is another tool to copy and follow the expert traders’ strategies. However, it is compatible with the MT4 platform only.
With MQL5, you can follow trade signals from expert traders in your social trade community. MQL5 is compatible with MT5.
MT4 is one of the most widely used trading platforms. It comes with a fast user interface with reliable trading signals from experts. MT4 supports desktop, Mac, IOS, and Android applications.
Some key features with MT4:
- Expert Advisor functionality
- More than 30 trading built-in indicators
- 3 charts, 4 pending order types, 9 timeframes
- Micro lots for novice traders
- Hedging Permitted with MT4 platform
MT5 is an advanced version of the MT4 trading platform with more features and a wider range of products. It comes with all of the built-in features that come with MT4.
Some additional features with MT5 are:
- 38 built-in indicators
- 12 timeframes
- 37 graphical objects
- 6 pending order types
- Trading history information with guaranteed data backup
Deposit and withdrawal
AvaTrade offers convenient deposits and withdrawals for its customers around the world. It offers a wide range of tools to deposit funds into AvaTrade accounts. There are no direct deposit or withdrawal fees charged by AvaTrade to its customers. The minimum deposit is 100 of the base currency of the customer account.
You can deposit funds with:
- Debit Cards / Credit Cards (excluding in Canada)
- Wire Transfers
- E-Wallets including Skrill, Web Money, and Netteller
The withdrawal process will use the same source as your deposit method. Customers can choose in one of five base currencies from USD, EUR, GBP, CHF, and AUD. It can save you on conversion fees with deposits and withdrawal transactions.
AvaTrade offers comprehensive customer support features. It prides itself on offering a simple trading experience for beginners. Beginners often require prompt customer support from account opening to placing orders, alert settings, platform customization features, and so on.
AvaTrade offers customer support through:
- Phone Calls with dedicated country lines as well as international direct calling
- Live Chat
Education tools and features help beginners as much as direct customer support. AvaTrade also offers comprehensive educational features that can help new traders learn the basics. Advanced traders can learn more about technical analyses and features that AvaTrade offers.
AvaTrade offers the following educational tools:
- Demo Account for trading practice
- Help Centre collection of FAQs
- Video Tutorials
- Guides on online trading strategies, advance strategies, market orders, and economic indicators
- Economic Calendar
- Trading Calculator
Things we like
AvaTrade is an established online broker since its inception in 2006. It offers a simple and intuitive trading platform that attracts beginners.
Here are the top features that we liked in AvaTrade:
- Easy online account opening.
- Established broker regulated by several international regulatory authorities.
- Negative balance protection for all customers.
- Built-in trading platform as well as third-party platforms.
- Competitive trading and non-trading costs overall.
- Comprehensive market research, economic indicators, and helpful tools.
- Choice of 5 base currencies for international customers.
- Dedicated customer support in different countries.
- Comprehensive educational and research material.
Things we wish to see
Although AvaTrade offers a lot of great features that have contributed towards its great reputation, there are certain features that we wish to see.
Some key features that we missed from an established broker like AvaTrade include:
- It does not a banking license.
- It is still a privately held company that restricts access to publicly available financial information.
- It is not regulated by top-tier regulators like the FCA in the UK.
- It offers a relatively modest range of products and markets.
- It does not offer to trade in individual stocks, ETFs, Mutual Funds, etc.
- Customer support can be extended to 24/7.
- It does not allow manual adjustment for leverage.