CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Bottom Line Summary
Unlike many of the leaders in the forex brokerage industry, AvaTrade operates out of Dublin, Ireland, without a physical presence in the financial district of London. It has a loyal fan base of 200,000+ customers spread across the globe. It is supported by a network of 11 offices in Dublin, Milan, Sydney, Tokyo, Kuala Lumpur, Las Condes, Mexico, Mongolia, Warsaw, Johannesburg, and Abu Dhabi. A perennial award winner, this boutique brokerage is consistently rated in the Top Ten and worth a shot.
Overall Ratings
4.2
AvaTrade Fees
3.8
Accounts/Membership Levels
4.5
Deposit and Withdrawal
4.5
Trading Platforms
4.2
Mobile Trading App
4.2
Markets and Products
3.8
Market Research
4
Customer Service
4
Education
4.7
AvaTrade broker features
Feature
AvaTrade
Minimum deposit:
$100/€100/£100
Withdrawal fee amount:
$0 - except for intermediary payment processor fees
Inactivity fee charged (Y/N):
Y
Max leverage:
Varies by region
Spread from:
Competitive on Professional level, average for basic account
Number of instruments:
Up to 1,000
Year founded:
2006
Time to open account:
1-2 business days
Demo account provided (Y/N):
Y
Countries of regulation:
EEA (Bank of Ireland, CySEC), Australia, Japan, Poland, South Africa, Abu Dhabi, and Israel
The history of the AvaTrade forex broker began in 2006 as Ava FX. From those humble beginnings, the AvaTrade Group has grown in leaps and bounds on the global stage. It re-branded its name in 2013 to AvaTrade to reflect its expansion into other trading arenas in addition to traditional foreign exchange trading. The firm maintains its headquarters in Dublin, Ireland, while its parent holding company is in the British Virgin Islands. Transparency is also a hallmark since management bios are prominently displayed on the firm’s website, and the brokerage has garnered over 30 reputable industry awards for excellence since 2009.
While many other global leaders in the industry boast millions of customers, AvaTrade has been content to focus on the needs of its 200,000+ client base. According to the “About-AvaTrade” section of its website, these traders account for three million trades per month for over $70 billion. It is safe and secure and protected by regulatory compliance across six continents. The Bank of Ireland is its primary regulator and blocked a Playtech takeover attempt in 2015.
From its traditional forex trading roots, AvaTrade now also offers forex options and CFD trading in stocks, bonds, cryptocurrencies, commodities, and indices. It also supports spread betting in Ireland and the UK. In addition to the highly popular MetaTrader family of trading platform products, AvaTrade also offers proprietary solutions for trading options and CFDs, as well as mobile apps for the on-the-go trader of today.
AvaTrade has evolved over the past decade in much the same way as other leaders in the industry. As major regulators began tightening down regulations on a regional basis, forex brokers have had to establish special-purpose entities to comply with varying local mandates, as inconsistent as they might be. As a result, AvaTrade has physical offices in 11 countries around the globe, serving its loyal fan base in over 150 countries.
AvaTrade Fees
3.8
Trading-related fees, those having to do with commissions, spreads, and transactions, are generally rated as average for the typical retail trader. The “EUR/USD” forex pair may be less than one pip, but AvaTrade reserves its best spreads for professional traders. Retail traders, however, will not be too disappointed. AvaTrade spread amounts may be average, but they are still low.
In the non-trading area of fees, there is good and bad news. There are no fees related to opening an account, making a deposit, or making a withdrawal other than the charges that your payment processor or bank may levy. However, AvaTrade does charge non-activity fees after three months of dormancy and an even higher fee after one year. Therefore, the incentive is there to trade.
Accounts/Membership Levels
4.5
AvaTrade account types are singular in nature. The Standard account may go by different names in different regions, but it is a basic retail account. If you qualify as an experienced trader under regulatory rules, you could apply for professional status and enjoy other privileges. There are separate single-purpose accounts that apply to spread betting, options trading, and corporate use, as well as an Islamic, swap-free account for those of the Muslim faith. Demo accounts are free in each category.
Opening an account is easy. First, select one of the many “Register Now” buttons on the firm’s website to start the process. Your email address and personal password will immediately give you access to a demo system platform. AvaTrade will also ask a few questions to ascertain your level of trading acumen and whether you might qualify for professional status. You must submit documents per international “Know-Your-Customer” (KYC) rules to make your account active. All brokers must comply. Funding comes next, and you can be trading in minutes unless your identity verification requires more attention. In that event, another one to two days may be a formality.
Deposit and Withdrawal
4.5
AvaTrade has gone the extra mile to bring convenience to the deposit and withdrawal process. Be aware that many of the delays and charges in this area are due to payment intermediaries outside the firm’s control. Wire transfers may take days to post, while credit cards may only take a day. Your deposit method will also dictate how your withdrawal is handled. Lastly, some payment methods vary by country, and your base account currency (USD, EUR, GBP, AUD) may also cause conversion issues before you receive your actual payment.
There are no AvaTrade withdrawal fees or deposit fees. The minimum deposit is 100 of your base currency. Deposits can be by wire transfer, credit/debit cards, or payment services like PayPal, Skrill, WebMoney, or Neteller. All processes are online and can occur seamlessly; however, international law requires a broker to be extra careful when delivering funds across a border. Be sure that your documentation is up to date and in accordance with the rules. Also, ensure you have met bonus-related requirements before asking for a withdrawal.
Trading Platforms
4.2
AvaTrade trading platform options offer something for everyone. MetaTrader4 would have been sufficient for a small boutique firm, but the management team strove very early on to distinguish itself from its competitors by innovation. It does support both MT4 and MT5, but its proprietary system is called WebTrader. There is also a special AvaOptions platform dedicated solely to trading forex CFD options.
MT4 and MT5 need no explanation. The leader in popularity for decades, this family of products has everything a beginner or veteran needs. A professional trader may disagree and have refined needs, but the proprietary platforms have not impressed the critics. Reviewers consistently claim that WebTrader does not allow enough room for customization or is too slow to load on most devices. Many of the products and CFDs offered by AvaTrade also require access from an MT4 or MT5 platform, which might also influence your choice.
AvaTrade also stands out in the copy-trading arena. The firm offers Zulu Trade, but it has its own version, DupliTrade, as well as the Signals market access from MT4 and MT5. For UK residents, it is experimenting with AvaSocial, a service supported by Pelican Exchange.
Mobile Trading App
4.2
Once again, AvaTrade offers the MT4 and MT5 mobile apps for Android and iOS devices, but it also hangs its hat on a proprietary version that resembles its WebTrader platform. The proprietary version may not appear as advanced as industry leaders, but it can certainly hold its own. Functionality is present, and the firm augments the offering with a special hedging service, AvaProtect, which can be tailored to limit your risk by automatically purchasing a forex option. For options traders, the separate AvaOptions mobile app is well architected.
Markets and Products
3.8
AvaTrade offers 1000+ tradable assets in its portfolio offering. However, your access may depend upon your country of residence, your platform selection, the entity you are dealing with, or whatever restrictions the local regulator may have mandated, i.e., the FCA currently prohibits CFD trading by retail consumers in the UK. The firm does facilitate trading in currency pairs (50+), forex options, and CFDs in stocks, bonds, indices, cryptocurrencies, and commodities, including precious metals, energies, and agricultural products.
Market Research
4
If there is an area that AvaTrade falls short in, it could be researched. Yes, there is an attempt to provide helpful analyses from time to time on its YouTube channel, but any trader that expects its broker to spend a great deal of capital on a research department is not in tune with the direction of the industry today. Brokers must keep margins tight to allow for competitive spreads. It is not a problem because research insights can be gleaned from several alternative sources; perhaps a better way to go.
Customer Service
4
Every attempt has been made to make support accessible, from over a dozen toll-free telephone lines to live chat, to direct emails, but support is “24X5”, not every day of the week. Support agents are multilingual in many languages, and responses to email queries come quickly. Overall, customer service is above average.
Address: AvaTrade Group, 2 Dublin Landings, North Wall Quay, North Dock Dublin 1, Dublin, Dublin DO1V4A3, Ireland
It is evident that AvaTrade invested capital in its education area. Its Learning Centre boasts over 100 educational articles and half as many again of video content. It also supplements these offerings with access to third-party materials to round out a complete effort to help beginners. It also has a broad-based YouTube channel with additional educational materials and market insights. You may access it by just clicking here.
Is Avatrade regulated?
AvaTrade is heavily regulated. Its primary regulator is the Central Bank of Ireland. It is also licensed, registered, and complies with the local regulatory dictates in Cyprus (CySEC), Japan, Australia (ASIC), Poland, the British Virgin Islands, South Africa, Abu Dhabi, and Israel. It also complies with the MiFID statutes, which permit it to offer services across the European Economic Area.
Alternatives to AvaTrade
AvaTrade is an experienced, safe, and secure global brokerage firm, but it is not without severe competition in its space. It has chosen to focus on a select group of customers and provide them with excellent service, but if they are not what you are looking for, then here are five other firms that also traditionally top the list of the best in the breed:
eToro: Large global broker, very loyal customers, and excellent copy trading service
IG Group: Always a top performer in the forex industry, on the London Stock Exchange
Plus500: Another London Stock Exchange broker that is global and focused on CFDs
Pepperstone: Great broker for both beginners and veterans, broad-based offering
Degiro: Low fees and popular apps with a significant presence across Europe
If you are a beginner and would like additional support when looking for your first forex broker, we can also help you in your search.
FAQ
Is AvaTrade regulated?
Yes, AvaTrade is heavily regulated. Its primary regulator is the Central Bank of Ireland. It is also licensed, registered, and complies with the local regulatory dictates in Cyprus (CySEC), Japan, Australia (ASIC), Poland, the British Virgin Islands, South Africa, Abu Dhabi, and Israel. It also complies with the MiFID statutes, which permit it to offer services across the European Economic Area.
How do you sign up with AvaTrade?
Sign-up is straightforward. A “Register Now” button appears on every webpage. Just select, enter your email, create a password, and your account is open. You have free access to a demo account, and when you wish to trade, you will need to submit internationally required ID documents and fund your account. It is just that easy. US citizens, however, are not accepted.
Does AvaTrade offer any bonuses?
Yes, there are new account bonuses and a refer a customer program, as long as the local regulatory regime does not prohibit them.
Is AvaTrade good for beginners?
Yes, AvaTrade has abundant training materials for beginners and a broad-based video selection on its YouTube channel. The firm has also won awards in this area.
What do you do if AvaTrade is down?
AvaTrade maintains an extensive global network with backup capabilities in compliance with regulatory guidelines. Toll-free phone lines and offices in 11 jurisdictions offer direct contact when needed, and Support Personnel also monitor Facebook for support requests.
How do you sell with AvaTrade?
Whether you are on MT4 or a proprietary platform, opening and closing positions are as simple as one click. Practice various executive orders on the firm’s demo system to become familiar with the various options available when trading. These order types are there to ensure that you make the most advantageous entry or exit from your trading positions.
Risk Disclaimer
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This content is intended for informational and educational purposes only and should not be considered investment advice or an investment recommendation.
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