OPEN A TRADING ACCOUNT WITH AVATRADE
AvaTrade Review
AvaTrade, initially established in 2006 as AvaFX, is an online forex and CFDs broker that is based in Dublin, Ireland. AvaTrade specializes in offering trading services for Bitcoin, commodities, equities, Exchange Traded Funds (ETFs), bonds and market indices.
Since their inception, AvaTrade has hugely expanded serving over 200,000 accounts on a global basis. The broker executes on a monthly basis more than 2 million transactions and often surpasses the $60 billion mark in total value.
With a solid financial backing and client oriented focus, AvaTrade has strived to provide their clients with a full range of services and products. This can be seen in the diversity of trading platforms that are available at AvaTrade and are supported by a team of multilingual support staff who are available on a 24/5 basis.
Apart for its operational base in Dublin and Ireland, AvaTrade also maintain several offices in several major cities and countries around the world such as Milan, Nigeria, Paris, Shanghai, South Africa, Sydney, Tokyo and Ulaanbaatar in Mongolia.
AvaTrade Video Review
AvaTrade Regulations
AvaTrade is regulated by various international bodies. They are:
AVA Trade EU Ltd is regulated by the Central Bank of Ireland (No.C53877)
AVA Trade Ltd is regulated by the B.V.I Financial Services Commission
Ava Capital Markets Australia Pty Ltd is regulated by the ASIC (No.406684)
Ava Capital Markets Pty is regulated by the South African Financial Services Board (FSP No.445984)
Ava Trade Japan K.K. is regulated in Japan by the FSA (No.1662) and the FFAJ (No.1574)
AvaTrade and Cryptocurrencies
You can trade more than 7 cryptocurrencies with AvaTrade. We will list all of them below with their respective characteristics:
-Bitcoin and Bitcoin Cash
- Bitcoin CFD trades with up to 20:1 leverage
- You can start trading Bitcoin from as little as £100/$100/€100
- AvaTrade offers zero commissions on Bitcoin trading and no bank fees charged on transactions
- The maximum accumulated position size for Bitcoin is 100 BTCUSD (10 LOTS)
- The maximum accumulated position size for Bitcoin Cash is 100 BCHUSD (10 LOTS)
-Ethereum
- Fixed Spread (Pips)* $3.00 over market
- Minimum Trade Size 1
- Leverage 10:1
- Margin 10%
- The maximum accumulated position size for Ethereum is 1,000 ETHEREUM (10 LOTS).
-Ethereum Classic
- Fixed Spread (Pips)* $0.25 over market
- Minimum Trade Size 1
- Leverage 5:1
- Margin 20%
-Dash
- Up to 20:1 leverage
- Live quotes and charts for your reference
- Short selling and auto trading option
-Litecoin
- Up to 10:1 leverage
- The maximum accumulated position size for Litecoin is 5,000 LITECOIN Mini (50 LOTS)
- Choose between the powerful AvaTradeAct and MetaTrader 4 platforms
-Ripple
- The maximum accumulated position size for Ripple is 1,000,000 RIPPLE (10 LOTS)
Other cryptocurrencies coming soon: Monero and NEO
Other Important Information About Trading Cryptocurrencies with AvaTrade
- Crypto Currency trading is not available on Islamic accounts.
- Margin Calls on Crypto Currencies will be enforced during the weekends based on market trading rates. Should you wish to avoid this risk, clients should close their positions on Friday before EOD.
- Maximum cumulative open trade size for Crypto Currencies is $500,000 notional value of total Crypto Currency positions.
- 100 BTCUSD (10 LOTS)
- 100 BCHUSD (10 LOTS)
- 1,000 ETHEREUM (10 LOTS)
- 1,000 DASH (10 LOTS)
- 1,000,000 RIPPLE (10 LOTS)
- 5,000 LITECOIN Mini (50 LOTS)***
AvaTrade Reliability – Is AvaTrade a scam?
For most traders, one of the biggest concerns which they have concerning a broker is whether the broker is reliable. This is largely due to the fact that the online trading industry has for years been plagued with scam brokers. Understandably, beginner traders are anxious to make sure that the broker whom they sign up with is legitimate and reliable.
With AvaTrade, this is no longer a concern for traders. As a broker that has been operational for more than a decade, AvaTrade has already established a reputation among the online trading community as a broker with integrity and reliability.
Firstly, AvaTrade is an authorized and regulated broker that complies with the strictest regulatory requirements. It is able to provide its traders a safe and regulated environment which they can trade with a peace of mind. Specifically, AvaTrade holds licenses and authorizations for the following jurisdictions:
- European Union
- British Virgin Islands
- Australia
- South Africa
- Japan
In testimony to its reliable track record, AvaTrade has since 2009 won a variety of awards in recognition of its achievements to the industry. Among their awards, AvaTrade has achieved the “Best Customer Support”, “Best Alert System” and “Best Financial Derivative Trading Provider”. Its latest achievement was given by us here at FXEmpire as “Best Forex Broker 2016”. AvaTrade has indeed proven itself to the online trading industry that is a legitimate and trustworthy broker.
AvaTrade Trading Platforms
One of AvaTrade’s main attractions is the numerous trading platforms that it has made available for its traders. Altogether, AvaTrade’s clients have a choice of 8 main types of trading platforms to choose from.
These various platforms include:
- MetaTrader 4 (MT4) platform
- Meta Trader platform for Mac
- Meta Trader platform for mobile trading
- Meta Trader platform for floating spreads
- Meta Trader platform for web trading
- The proprietary AvaTradeAct platform forex and CFD trading
- Platforms for Automated trading.
Mobile Trading Platforms
AvaTrade platforms are available on mobile devices as well. AvaTrade supports Android as well as iOS (iPhone and iPad) technology. AvaTrades’ clients have the option to choose between MetaTrader platform and AvaTradeACT.
Automated Trading
To cater for beginner traders, AvaTrade has made available a strong suite of automated trading platforms and tools which they can use to improve their trading profitability. We will list some of the automated trading platforms that AvaTrade offers:
DupliTrade
DupliTrade displays a list of the selected strategy providers, representing different trading methods and styles, giving you the possibility to build and enhance your portfolio. You need a minimum of 5,000USD to get access to DupliTrade.
RoboX
RoboX is another very easy to use auto-trading solution:
- Answer three questions and start trading
- Customised for each trader’s preferences
- Risk tolerance and management tools
- Over 1,000,000,000 strategies available
- Easy to trade and user friendly interface
MirrorTrader
MirrorTrader is an auto trading algorithm that helps you find and follow traders with successful strategies.
- Mirror trades of experienced traders
- Adjust from manual to fully automated
- Rank traders according to their performance
- Charts & indicators for proper technical analysis
- Premium trading strategies from hedge funds
ZuluTrade converts the recommendations of experienced traders and executes them.
- Follow and copy of seasoned traders
- Wide selection of leading signal providers
- Ranking based on success, currency and more
- Risk management and strategy tools
- Be part of a successful trading community
There are two other tools that traders can use: MQL5 Signals Service and Api Trading. The last one is for more experienced traders who want to automate their trading strategies and take advantage of fast execution.
AvaTrade Account Types
To simplify matters, AvaTrade provides its clients with two types of trading account, a standard trading account and a demo trading account.
To open a standard trading account, there is a minimum deposit requirement which they have to fulfill. Depending on the trading account currency, the minimum deposit requirements are as follows:
Credit Cards
- $100
- £100
- €100
- AUD $100
Wire Transfer
- $500
- €500
- £500
- AUD $500
Note: Swap free accounts are also available for Muslim traders who wish to trade the markets according to Sharia principles.
AvaTrade MAM Accounts
For professional traders who have to manage several trading accounts for their clients, there is also the Multi-Account Manager (MAM) account. The MAM account comes with the following features:
- Ability to create multiple sub trading groups
- All MT4 order types such as stops, limits and close are available
- Expert Advisors (EAs) compatible
- Minimum lot at 0.01 lots
- Multiple allocation parameters
- Order placements for unlimited client accounts
- Trade order placements from a master account
With the MAM system, traders can also access all the information and separate client accounts in order to manage their clients’ accounts effectively.
Important Note: MAM Accounts Not Available for European Traders
Islamic Accounts
AvaTrade does not offer Islamic Accounts to cryptocurrency traders. It offers Islamic Accounts to all other types of traders.
AvaTrade Commissions & Spreads
Traders at AvaTrade can trade the various instruments with fixed or floating spreads.
AvaTrade Deposits & Withdrawals Options
AvaTrade trading accounts can be funded using credit/debit cards and bank wire transfer. Electronic payment transfers through eWallets are also supported by AvaTrade. These include Paypal, Skrill, NETELLER and WebMoney.
Withdrawal methods at AvaTrade are the same as those used for making a deposit. To request a withdrawal, simply fill out the withdrawal request form through the trading account on “MY AVA” dashboard. Follow the instructions listed in the withdrawal section located at the bottom left of the “MY AVA” screen. Once the withdrawal request has been submitted, it will take up to 5 business days for the request to be processed. In addition to the 5 days required to process the withdrawal request, it will take several more days for the entire withdrawal process to be completed and the money posted in the bank account of the trader. For a faster withdrawal turnaround, traders can apply for an Ava Debit MasterCard. With the Ava Debit Mastercard, the withdrawal time is cut down significantly.
AvaTrade Customer Support
As for the customer support service at AvaTrade, it is handled by a team of multilingual support reps. The team is available on a 24/5 basis hence ensuring that the AvaTrade’s trader will always get the assistance that he or she needs regardless of the time. To communicate with the support team, AvaTrade’s traders can do it by email, social media, live chat, fax and telephone. One of the best features about AvaTrade’s customer support is their localized support service. Dozens of localized telephone support numbers are provided by AvaTrade hence ensuring that their traders will not be burdened with excessive telephone charges.
Pros
- Multilingual support
- Multiple choices of trading platforms
- AVA Trade EU Ltd is regulated by the Central Bank of Ireland (No.C53877)
- Fixed and Floating spreads available
- Trading Bonuses
Cons
- FAQ lack depth
- The design of the website could be improved
AvaTrade Q&A
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Is AvaTrade regulated?
Yes. AvaTrade is an authorized and regulated broker that complies with the strictest regulatory requirements AvaTrade is regulated by the Central Bank of Ireland, Australian Securities & Investments Commission (ASIC), Financial Services Commission (British Virgin Islands). The broker is especially tightly regulated in Japan with several agencies such as the Financial Services Agency, the Financial Futures Association of Japan and the Commodities Futures Association of Japan.
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How safe is AvaTrade?
They operate by strict regulatory requirements designed to ensure the interest of its clients are protected. The fact that AvaTrade operates since 2009 and regulated by some of the most important regulators around the globe can ensure their clients to deal with a reliable company.
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Where is AvaTrade based?
AvaTrade is based in Dublin, Ireland. AvaTrade also maintain several offices in several major cities and countries around the world such as Milan, Nigeria, Paris, Shanghai, South Africa, Sydney, Tokyo and Ulaanbaatar in Mongolia.
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How does AvaTrade make money?
AvaTrade’s earnings are derived from the slightly widen spreads that it charges traders when they make a trade. Apart from their spreads, there are no hidden commission charged by AvaTrade. AvaTrade’s spreads are among the lowest in the industry.
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How to deposit in AvaTrade account?
Traders at AvaTrade can deposit funds into their trading account using their credit cards (Visa, Mastercard, etc), eWallets or bank wire transfer. eWallets payments includes: Paypal, Skrill, NETELLER and WebMoney.
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How to withdraw money from AvaTrade?
Withdrawals are processed through credit/debit cards and bank wire transfer. To request a withdrawal, simply fill out the withdrawal request form through the trading account on “MY AVA” dashboard. Follow the instructions listed in the withdrawal section located at the bottom left of the “MY AVA” screen. Once the withdrawal request has been submitted, it will take up to 5 business days for the request to be processed.
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How to open an account with AvaTrade?
To open a trading account simply fill out the account opening registration and click submit. You can follow the instructions through AvaTrade’s website.
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Is AvaTrade reliable?
Yes, AvaTrade is a reputable and a reliable broker. They have been operational for close to 10 years and have also won numerous awards recognizing their achievements. AvaTrade is an authorized and regulated broker that complies with the strictest regulatory organisations in various areas of the world.
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Does AvaTrade use MetaTrader?
Yes. The MetaTrader 4 trading platform is supported at AvaTrade. AvaTrade provides its clients with MetaTrader 4 (MT4) platform, Meta Trader platform for Mac, Meta Trader platform for mobile trading, Meta Trader platform for floating spreads and Meta Trader platform for web trading.
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What is AvaTrade’s leverage?
AvaTrade’s maximum leverage is 1:200. The leverage is set by a specific instrument and is in line with the client needs and requirements.
Conclusion
AvaTrade has won numerous awards over the years, and certainly proven that they are reliable and well respected in the industry. We were also equally impressed with the number of solutions that they have provided their traders. It doesn’t matter if a trader is a beginner or a seasoned professional; AvaTrade has ensured that all their trading needs are met. Clearly from all the advantages and benefits that AvaTrade has to offer to all their traders, the broker is an ideal choice for anyone looking to trade the exciting financial markets with confidence and safety in mind.
OPEN A TRADING ACCOUNT WITH AVATRADE
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