AvaTrade Review 2024: Is AvaTrade Broker Legit for Trading?

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Fastrack your trading journey with AvaTrade, the global leader in forex and CFD platforms! AvaTrade, a leading Forex and CFD broker, offers a comprehensive and user-friendly trading platform. Get to know the detailed aspect of its diverse options and award-winning educational resources (Best in Class Trading platform for Beginners, 2023!). Through this AvaTrade review, you will become more confident in identifying if this broker is legitimate for forex trading.

AvaTrade Overview

Official Website https://www.avatrade.com/
Headquarters Dublin, Ireland
Found in 2006
Supported Currencies GBP, USD, CHF, JPY, CAD, AUD, EUR
Product Offered Forex, Stocks, Commodities, Indices, FXOptions, ETFs, Bonds, Cryptocurrencies
Trade Volume $70 Billion/ Month

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

AvaTrade platform is for both Advanced and beginner traders as it offers a simple and intuitive front-end backed by dedicated customer support & AvaTrade account manager team. By the end of this review on AvaTrade, you can come to a wise conclusion about the broker to take calculated risks and make informed decisions.

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AvaTrade Review: Main Highlighting Features

  • AvaTrade put forward other platforms like AvaTradeGO, AvaOptions, MT4, and MT5. Since it was founded in 2006, the forex brokers have expanded quickly with more than three hundred thousand registered end users globally; and the number continues to grow.
  • AvaTrade Account opening is pretty straightforward, and as per marketing materials, AvaTrade has several deposit and different withdrawal methods, which are free of charge. Also, Avatrade provides a user-friendly search function, educational tools, and daily market analysis research instruments.
  • AvaTrade team has strict security measures regarding client data. It is protected by 256-bit SSL encryption over the complete website; McAfee prevents identity theft and credit card fraud. AvaTradeGO is an easy-to-use and flexible app that extends several features;
  • It also includes AvaTrade’s insurance scheme and risk management tool: AvaProtect. Users can download the app on Android devices and iOS devices. The order type is restricted, and the AvaTrade app is offered only in English by AvaTrade.
  • User reviews show that AvaTrade has a quick registration process. AvaTrade trading fees are also low; they provide a competitive spread and a minimum deposit requirement of 100 dollars for an e-wallet, credit, or debit card.
  • Deposits at AvaTrade can be made through wire transfers, credit cards, and debit cards. AvaTrade Withdrawals are processed immediately if the user submits a withdrawal form with any AvaTrade withdrawal option & there are no AvaTrade withdrawal fees. Still, it might take a few days to process.
  • The withdrawal requests will take up to 5 working days to process. The maximum trade requirements may vary depending on trader and tradable instruments. There are no commission charges in cryptocurrency trades. Avatrade has so many good and user-friendly tools compared to other brokers.
  • Trade expiration dates can be set overnight to one year at any strike price on business days. Avatrade offers very low spreads & has reliable order execution.
    • GBP/USD
    • USD/CHF
    • USD/JPY
    • USD/CAD
    • AUD/USD
    • EUR/USDAvaTrade offers six major currency pairs

Risk Disclaimer :

As many AvaTrade reviews state, making money when trading CFDs, as these are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money with this provider.

AvaTrade: Pros and Cons

Pros Cons
Regulated by several authorities across the globe. Withdrawals might take up to 10 days.
Traders can contact the AvaTrade customer support team, which is available in several languages. High Inactivity Fees, $50 per Quarter.
Competitive spread with many platforms & also provide fee reports.
This web trading platform has a demo account.
Low AvaTrade fees.

AvaTrade Regulation and Security

AvaTrade regulation and security is one of the assessing parameters of this AvaTrade Review

AvaTrade is a mature global regulated trading platform being regulated on 6 continents. The answer to why Avatrade is safe depends upon the regulatory bodies associated with AvaTrade. AvaTrade is regulated by:

  • Ava Capital Markets Australia Pty Ltd is regulated by ASIC (Australian Securities and Investment Commission) – No.406684
  • AvaTrade EU Ltd is regulated by the Central Bank of Ireland – No.C53877
  • AvaTrade Ltd is regulated by the B.V.I. Financial Services Commission
  • AvaTrade Middle East Ltd is regulated by the Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA) (No.190018)
  • AvaCapital Markets Pty is regulated in South Africa by the South African Financial Sector Conduct Authority (FSCA NO.45984)
  • AvaTrade Japan K .K. is licensed and regulated by the Japanese Financial Services Agency (License No.1662), the Financial Futures Association of Japan (License No.1574)
  • AvaTrade Ltd is regulated in Israel by the Israel Securities Authority (No. 514666577) 

Fraud Prevention 

AvaTrade safeguards sensitive data and transactions from potential breaches through high-end encryption technology and SSL (Secure Socket Layer). 

Regulation and Security

 

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AvaTrade Fees, Leverage & Spread

AvaTrade Fees, Leverage, and Spread are a few of the assessing parameters of this AvaTrade Review.

Trading fees Low
Withdrawal fee No
Inactivity Fee After 3 Consecutive Months

AvaTrade Withdrawal Fees

To withdraw money from the AvaTrade account, the trader should ensure that their account is confirmed and verified & this broker doesn’t charge a withdrawal fee. 

  • Identity verification is one of the main needs of the regulatory authorities, and the broker should strictly follow the KYC process. It adheres to international anti-money laundering regulations.
  • The withdrawal process of AvaTrade takes 1 to 2 business days.

As per our AvaTrade review, withdrawals can be made through the payment methods funded to the AvaTrade account. The conversion fee depends on the base currency, payment provider, and receiving currency.

AvaTrade Deposit Fee

One can start with depositing funds to open a trading account with AvaTrade.com without a deposit fee. The low minimum deposit for AvaTrade is $100, and trading conditions warrant it.

  • There are different ways to deposit funds: credit cards, debit cards, bank transfers, and e-wallets (Skrill, WebMoney, Perfect Money, and Neteller). 
  • Credit/Debit cards and e-wallets may take one business day, and wire transfers can take up to 10 business days. 
  • A low minimum deposit requirement to open a live trading account has decreased with an increasing number of brokers.
  • AvaTrade Reviews mentions that there are no hidden fees, zero commissions, financing rates, and no trading costs or bank account & bank transfer fees on the transactions executed. But AvaTrade charges currency conversion fees. AvaTrade trading fees are reasonably competitive for depositors, especially those trading individual stocks. Also, AvaTrade is in one of the top 10 no deposit bonus forex in 2024.

AvaTrade has four main base currencies: USD, EUR, GBP & AUD base account currency. Bank transfers can take up to 10 business days.

AvaTrade In-activity Fee

An inactivity fee of $50 for each quarter following 3 months of dormancy is charged; If the account is still inactive for straight 12 months long, a further yearly organization expense of $100 is charged. 

AvaTrade Spread & Leverage

  • AvaTrade provides competitive spreads and generous leverage levels of up to 2:1 for EU residents. For non-EU residents, it is 25:1. This increases the trade value and provides the user more exposure to the trading markets, such as the United States, Europe, and Asia. 
  • Maximum leverage up to 1:400. Using the AvaTrade trading platform, one can trade cryptocurrencies against fiat currencies, which is a major benefit when comparing brokers to other top forex brokers.

AvaTrade Trading Platforms and Tools

AvaTrade Trading Platforms and tools are also one of the assessing parameters of this AvaTrade Review.

AvaTrade has third-party platforms like the MetaTrader suite (MT4 and MT5) and their own AvaTradeGO, AvaSocial, and AvaOptions. AvaTrade trots out a wide selection of trading that can be used on a desktop and an Avatrade mobile trading platform. For Mac owners, the interface allows traders direct access to trade several assets on MetaTrader 4, MetaTrader 5, and WebTrader. 

AvaTrade Overview

 

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Web – Trader Platform 

The Web-Trader platform by AvaTrade is simple to use, and it’s a right fit for both beginners and experienced traders. Traders don’t need to install or download any extra applications. The Web-Trader option is an easy-to-use platform that one can access through their web browser; also, it has a user-friendly interface and modern design. But compared to the other options provided by AvaTrade like mobile applications, AvaTradeGo, the website is a bit underperforming compared to the rest of the platforms. Make sure to utilize the Trading Central platform, which is fully integrated for keen technical analysis and pattern identification.

AvaTrade - WebTrader

 

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MT4 & MT5 Platform

  • AvaTrade gives two versions of the platform, MT4, and MT5, available on desktop, web, and mobile trading platforms. Irrespective of the trading platform the user chooses, both are highly effective. 
  • The software will not overload the systems; thus, it is made for immediate execution and fast trading. These are the most important aspects to consider when a user trades in fast-paced, volatile markets. 
  • As per our AvaTrade review, MT4 and MT5 are the trading platforms offered with backtesting capabilities. MetaTrader 4 presents a great user experience and several functionalities,

AvaTrade Review – Meta Trader 4

 

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Some of the different features that are offered by MT5 (when compared with MT4)

  • MT5 comes with an economic calendar that is fully integrated, and its tabs show previous data, the news released schedules, market consensus, educational videos, etc.
  • Using MT5, the traders can transfer funds very easily. This helps AvaTrade streamline the process by offering traders flexibility and convenience.
  • On the MT5 platform, the traders can check the market movements using a graphical representation of offers and bids of specific financial assets. It is the most important function which helps the traders to execute their orders at the best possible price.
  • Using the AvaTrade MetaTrader 5 platform, traders can trade futures, options, bonds, forex, algorithmic trading, and CFD.

AvaTrade Review – Meta Trader 5

 

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AvaOptions Platform

In Forex Options, AvaTrade has its desktop trading platform for trading options. AvaOptions with Vanilla Options helps clients in options trading to create a portfolio, choose from over 40 currency pairs, and reward. It also has portfolio simulations and professional risk management tools.

AvaSocial

  • AvaTrade launched AvaSocial in November of 2020, a new copy trading solution for traders. 
  • Using the AvaSocial mobile app, users can copy and follow the trades of other traders. AvaSocial is an easy and user-friendly mobile platform.
  • Currently, AvaSocial is available in languages such as English, German, French, Spanish, Italian, Japanese, Vietnamese, Chinese, Hong Kong, and Chinese (traditional).
  • Clients can use AvaSocial to create a community of followers, where they can monitor their trade strategies, manually copy or auto-copy others trades, and analyze their performance; users can communicate with other traders using the instant messaging functionality. Traders can easily set an underlying asset and strategies they want to trade.
  • Both beginner and professional traders can use Avasocial for relevant experience. 
  • Traders can receive trading forex signals in real time and get updates about other expert traders and friends in a specialized news feed. They can check what they are doing, comment, share, like a trade, or copy their trading signals.

AvaSocial

 

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AvaProtect – Risk Management Tool

  • AvaProtect is AvaTrade’s innovative risk management tool. The tool is available on AvaTradeGO and their online platform AvaTrade WebTrader.
  • The unique risk management tool allows both beginners & professional clients protection against losses of up to $1000000 within a chosen time frame, all in exchange for a minimum hedging cost, which is paid during the time of purchase.

 

AvaProtect Tool

 

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Automated Trading 

  • Using this feature, traders can copy or mirror the trades of other successful traders. If you are an experienced trader, AvaTrade has different auto trading products, and will be able to receive support from industry expert advisors.
  • AvaTrade recommends automated copy trading platforms like ZuluTrade, DupliTrade (the education section is good, above the industry average), and MQL5. 

AvaTradeGO Mobile Trading App

AvaTradeGO was voted as the number 1 Forex Trading App in 2020. To be precise and review AvaTradeGO, it can reduce risk, take advantage of market trends, and stay up-to-date. It is a unique app offered by AvaTrade. AvaProtect is AvaTrade’s innovative risk management tool. The tool is available on AvaTradeGO and their online platform, AvaTrade WebTrader.

AvaTradeGO - Innovative Technology

 

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AvaTrade Educational Resources

AvaTrade Educational Resources is one of the assessing parameters of this AvaTrade Review

AvaTrade Tutorials

  • The AvaTrade trading platform facilitates traders with all experience levels be it Beginner, Intermediate, or Professional, through the AvaTrade Education Center.
  • Basic terminologies and methodologies are covered in these tutorials which help beginners and Intermediate traders alike.
  • For Professional traders resources like Online trading strategies are available, which are kind of case studies, helpful for all levels of traders.
  • On top of all this, you will get a clear understanding of market fees and Trading rules imposed.

AvaTrade Review – Education Center

 

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AvaTrade Basic Order types

Being a trader, if you apply for a profit or stop-loss order, the trade position will be automatically closed when triggered. Moreover, traders can manually close these positions anytime before any orders like limit orders or others are triggered. Like most platforms, traders can utilize common orders like-

  • Market
  • Buy Stop
  • Sell Stop
  • Buy Limit
  • Sell Limit

AvaTrade’s Economic Calendar

  • AvaTrade has a global economic calendar that shows financial events affecting financial markets and asset class value.
  • The events are pre-scheduled and consist of statements made by countries and leading players in the financial sector from the IMF (International Monetary Fund), Central banks, and others. It also declares a country’s monthly unemployment rate, which can cause fluctuations in the currency value.
  • Traders can access important economic releases and view the GDP of almost all countries, employment data, inflation rate, and other economic indicators that can influence the market either to go high or low.
  • Experienced traders can apply, plan, and execute trades by following economic events using the calendar. Traders can use it to predict how the market will move to make wise and informed trades.
  • Traders can better understand the causes behind market fluctuations, predict how much the market will change, and understand how past events have influenced the markets by what percentage.
  • Traders can better understand critical market movements affecting trades and prices using an economic calendar.

AvaTrade Account Types

AvaTrade Account Types is one of the assessing parameters of this AvaTrade Review.

Types of accounts at AvaTrade vary from country to country; for example, Member States of the European Union can open a professional account, options, and spread betting accounts, and clients from the British Virgin Islands, Australia, South Africa, and Japan can have a standard account and options account with AvaTrade. AvaTrade offers Islamic accounts and Spread Betting account is offered in the UK and Ireland. It is a free account. For new account openings, traders must have to fulfill regulation requirements. The account types that are available with AvaTrade –

Standard Accounts or Retail Accounts

AvaTrade trading platform offers Standard account / Retail account. Using debit and credit cards, standard accounts can be opened with as little as $100.

Corporate Account

Suppose the trader wishes to open a corporate account. In that case, they need to upload some of their documents, such as a certificate of incorporation, a copy of the company director’s government-issued ID card, and a copy of a recent utility bill, corporate board resolution, memorandum, and articles of association.

Forex Options account

Avatrade also has a Forex options account for traders. Traders can choose from over 40 currency pairs and any combination of CALL and PUT options from a single account.

AvaTrade Financial Instruments 

AvaTrade Financial Instruments is one of the assessing parameters of this AvaTrade Review

AvaTrade provides the following instruments for its traders –

Forex

40 currency pairs are available, including all minor, and major, and many exotics are available 24 hours a day, 7 days a week. Traders can enjoy competitive spreads.

Stocks, Indices, Bonds, ETFs & Commodities

Traders of AvaTrade enjoy the highest leverage, are very competitive, and have low spreads for trading financial assets.

Cryptocurrencies

Traders can trade 9 different cryptocurrencies with up to 20:1 leverage.

FX Options 

AvaTrade has made trading options accessible for traders of all experience levels. The new options trading platform reduces the complexity of vanilla options and opens up a range of opportunities.

AvaTrade Customer Service

AvaTrade Customer service is one of the assessing parameters of this AvaTrade Review

AvaTrade offers a dedicated and excellent multilingual award-winning customer support team and supports 14 languages. You can contact the AvaTrade team, which is available 24X5 over the phone support, live chat, and email. AvaTrade live chat and email address are said to have the fastest response times. AvaTrade does give excellent service. Also, traders get the accessibility to go through their FAQ which clarifies major queries over the platform and broker. 

Why Should You Choose to Trade With AvaTrade?

AvaTrade is a secure forex broker with a track record of providing premium user-oriented platforms, customer services, forex brokers, and trading forex, CFD. A trader can open a trading account with AvaTrade and start trading activity on the MT4 platform quickly.

Traders also choose this platform because it possesses many financial trading instruments such as stocks, commodities, and others with good leverage and competitive spread. As with most brokers, in AvaTrade, margin requirements vary depending on the instruments. It is also an active community of over 145,000 registered partners!

AvaTrade’s client funds are held in segregated accounts and are regulated in Australia, European Union, Japan, UAE, South Africa, and the British Virgin Islands. Avatrade supports more than 20 languages. AvaTrade is a trusted global brand best known for its extension selection of trading platforms for forex and CFD traders.

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AvaTrade’s mobile app with copy trading, AvaTradeGO, has positive reviews. This best broker has ensured a seamless and efficient experience on the desktop version & mobile trading platform.

AvaTrade Review – What Makes it Different?

 

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Conclusion on AvaTrade Broker

To conclude our AvaTrade review, the broker has a good track record & is regulated by several authorities, such as the Central Bank of Ireland and the Australian Securities and Investments Commission, but it is not a market maker. AvaTrade has withdrawal options and deposit options free of charge, low trading fees, and a free demo account. AvaTrade is user-friendly and provides many research and educational instruments. Even though it has several advantages, the high non-trading fees, currency conversion fees, and limited investment products can be major cons. AvaTrade minimum deposit amount is very small, and individuals can start trading immediately.

AvaTrade FAQs

What is the minimum deposit amount for AvaTrade?

This broker’s minimum initial deposit is 100 dollars for the account opening process & there are no deposit fees. It also offers various deposit options, and the clients can fund their accounts using a credit card, debit card, bank wire transfer, and e-wallets like Skrill, Neteller, Paypal, and WebMoney.

Is it safe to trade with AvaTrade?

Yes, it is safe to trade with AvaTrade. It is legit, regulated by various top financial authorities, including ASIC, and licensed by the Central Bank of Ireland.

Is AvaTrade Regulated?

Yes, AvaTrade EU Ltd is regulated by the Central Bank of Ireland. The broker is subject to strict compliance requirements such as ethical handling of client funds and securities and daily financial reporting. AvaTrade also offers negative balance protection for its clients. If they violate, any regulatory status can be stripped.

How Long Do Withdrawals Take in AvaTrade?

Generally, this team processes the withdrawals within a business day. It might take a few days for the user to receive the payment. If the user uses a credit or debit card, it might take up to 5 business days; e-wallets take around 24 hours.

What Are the Funding Methods for the AvaTrade Platform?

AvaTrade accepts the following funding methods:- credit card, wire transfer, VISA, MasterCard, electronic wallet, PayPal, WebMoney, DinPay, FasaPay, G-Card, UnionPay, and Perfect Money.

How Does AvaTrade Make Money for Traders?

This online broker makes money from commissions and spreads charged on a trader’s account, inactivity fees, overnight markup, and the trader’s net trading losses, which makes it to cover their expenses through these positions.

Is AvaTrade Legitimate?

Yes, of course. AvaTrade is a legitimate forex and CFD broker and a highly regulated award-winning broker with over 400,000 registered traders, executing over 3 million monthly trades.

What are the Trading Platforms Available with AvaTrade?

AvaTrade provides traders with diverse options for trading platforms, ensuring flexibility in their approach. With third-party platforms such as MT4 and MT5, alongside their proprietary AvaTradeGO and Webtrader, traders have a wide array of choices to suit their preferences.

Risk Disclaimer:-

CFDs are complex, risky instruments. 71% of retail investor accounts lose money when trading CFD with this provider. You should consider whether you understand how CFD works and whether you can afford to risk losing your money.

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