AvaTrade - Forex Trading Review

AvaTrade can trace its history back to its establishment as Ava FX in 2006, and it’s fair to say that it has only gone from strength to strength since then. The Dublin, Ireland-based broker specialises in both online foreign exchange (Forex) and contracts for difference (CFDs). It is regulated by the Central Bank of Ireland.

Accounts

In common with other industry-leading online trading platforms, AvaTrade gives prospective members two different types of account from which to choose – a ‘real’ account or a free demo.

Although the demo account gives the new member of the site $100,000 to play with, it is also valid only for 21 days. Those intending to use it to practise before doing the same with their real money will therefore need to do so with a certain level of urgency.

Once they’ve finished experimenting and are ready to move onto the ‘real money’ account, AvaTrade clients are able to take advantage of the full functionality of the site, and the complete profit-making potential of Forex trading.

AvaTrade Bonus

At the time of this review being written, AvaTrade was offering new registrants the opportunity to enjoy high leverage of up to 400:1 and a $15,000 bonus.

A welcome bonus is provided on the client’s first deposit using Visa or MasterCard; while those putting down a mere €300 receive a €60 bonus, for someone depositing €10,000, it would be €3,000.

Another key part of the AvaTrade experience for many Forex traders is the site’s Ava Select premium service. This programme awards qualifying customers with such perks as tailored educational opportunities, a dedicated Ava Select hotline and customised trading terms and benefits.

All that the average AvaTrade member has to do to qualify for the Ava Select treatment is make a single deposit of $100,000 or exceed £1 million in trade volume.

 

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Features

AvaTrade has expertise relating to literally hundreds of financial instruments, including not only Forex but also CFDs for stocks, commodities and indices.

Clients of AvaTrade are able to make the most of such features as fixed and floating spreads, leverage 400:1 and high bonuses and the ability to start trading from just $100. AvaTrade traders can also have peace of mind, thanks to the painstaking efforts that the company takes to protect client funds, together with its reputation as one of the truly world-leading regulated online FX and CFD brokers.

Trading at AvaTrade can also be done with aplomb across desktop, smartphone and tablet devices, and the site is relentless in keeping its offerings up to date. This is demonstrated in part by MyAva, the new and advanced personal area that enables the execution of all trading actions on the most user-friendly and dynamic interface.

Platforms

One of the most powerful selling points of AvaTrade is undoubtedly the range of trading platforms that it offers.

These include MetaTrader 4 (MT4), which is no less than the most popular trading platform in the world, and AvaTrader, a Forex and CFD trading platform that – as one can tell by the name – is exclusive to AvaTrade. It’s the perfect solution for the trading of commodities, stocks and indices.

AvaTrade also presents its users with the opportunity of Forex spreads as low as 0.9 pips with its MT4 floating spread account. This means that members of the site can look forward to leverage of up to 400:1 on their trades.

Education

The AvaTrade site has an extensive Education section, providing traders with the materials and resources they need to gain a sense of the market and make the right decisions.

Included in this part of the site is an outline of ‘trading for beginners’, as well as information on the US, European and Asian economic indicators that could affect your trading strategies.

The site’s formidable databank of educational materials also encompasses the likes of trading video tutorials, a free Forex eBook and a glossary defining terms ranging from ‘accrual’ and ‘adjustment’ to ‘weighted average’ and ‘whipsaw’.

Such is AvaTrade’s commitment to educating its traders, that there is a completely separate website dedicated to the purpose – Sharp Trader, which offers resources such as analytical videos and daily technical and fundamental analysis.

Deposits/Withdrawals

You will not be able to deposit any funds until you first upgrade your account to a full ‘real money’ one, which will require you to provide more information about yourself, including your date of birth, address and favoured trading platform.

Only after this will you be permitted to make a deposit using a Visa or MasterCard payment card or via wire transfer. A minimum of £100 needs to be deposited to open a GBP account when depositing with a credit card, a figure that rises to £500 for wire transfer.

Meanwhile, to withdraw funds from your account, you will first need to be fully verified and to have put down a deposit. Withdrawals take up to five business days to be processed.

Customer Support

Help is always at hand for AvaTrade clients – the FAQs section, for instance, answers all of the questions that users of the site could conceivably have about trading platforms, documents, deposits and so many other trading ‘hot topics’.

However, while the FAQs answer the most pressing questions like “How do I withdraw funds?” and “Where do I send my documents for verification?”, there will occasionally be times when you need to contact the site support team directly.

This makes the site’s email and live chat support options invaluable for obtaining the quick and comprehensive support that you need to trade successfully.

Bottom Line

It’s hard to think of any other Forex broker that offers such an impressive depth of resources and tools, with the educational side of things being especially strong at AvaTrade. There are also various powerful and renowned platforms from which to choose, as well as a usable interface.

If we had to criticise AvaTrade, we would say that the constant need to re-enter login details to access various parts of the site – as well as remember the username and password that are given by default – is more than a little cumbersome.

However, AvaTrade has also thoroughly earned its reputation as one of the most sophisticated and forward-thinking Forex brokers – as it remains today.

 

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