|AvaTrade Pros||AvaTrade Cons|
|Wide variety of instrument||No discounts for high volume traders|
|Innovative trading platforms||No emergency stop loss|
|Negative balance protection|
- AvaTrade is an award-winning, online broker with a strong global presence, based in Dublin, Ireland with satellite offices in Australia, Japan, France, Italy, South Africa and Mongolia.
- It offers a broad range of tradable instruments including commodities, cryptocurrencies and Forex, with a CFD capability, conducting over 2 million transactions a month.
- AvaTrade is a commission-free model, within its innovative trading platforms, whilst its spreads are a little higher than average, there are no hidden additional charges, and a relatively small deposit requirement for new traders with negative balance protection.
- At AvaTrade, customer support is available 24 hours a day, five days a week and 24/7 for crypto traders. They offer considered helpful support that is multilingual, if required, in over 20 languages.
AvaTrade is a multi-asset broker that offers online trading courses for new Contract for Difference (CFDs) and Forex traders, as well as general courses on topics like technical indicators and trading strategies. It also caters for more experienced traders with special perks and benefits available to those eligible to open a professional trading account. For such eligibility, it will be important to satisfy two of three criteria: relevant financial services experience, at least ten transactions per quarter over the last year or a portfolio of financial assets totalling over EUR500,000. In addition, AvaTrade offers Islamic accounts that operate under Sharia Law.
So how deep is the AvaTrade online platform? There is a broad and diverse range of instruments, including indices, commodities, cryptocurrencies and Forex, whilst incorporating Exchange Traded Funds (ETFs) and Contracts for difference (CFDs). Their Forex trading offerings include 59 Forex pairs and spot trading. It is also worth noting that AvaTrade offers a wide choice of trading platforms, including the well known MetaTrader options, with both MT4 and MT5 available, and its own custom trading platform, alongside DupliTrade, RoboX and ZuluTrade. All can be utilised via web trading, mobile trading and trading via Mac as well as PC. There is a high degree of customisation throughout the online platform, and like most platforms, AvaTrade provides a mobile app for both iPhone and Android.
AvaTrade is a well-established, fully regulated, online broker with a global presence, a wide range of tradable assets, and an excellent choice of trading platforms. Both the desktop and mobile app options are highly functional and easy to use. A straightforward account opening process, low deposit requirement, and ease of copy trading on the platform will appeal to new traders. AvaTrade specifically sets out not to be specialised towards a particular financial asset, which for new and experienced investors gives them the opportunity to branch out and diversify their portfolio.
AvaTrade is a popular, award-winning, online broker, with its headquarters in Dublin, Ireland, and a strong global presence. The broker currently has offices in Australia, Japan, France, Italy, South Africa and Mongolia. AvaTrade offers a broad range of tradable instruments including commodities, cryptocurrencies and Forex, and it is also possible to trade via CFDs with them. The company was founded in 2006 as AvaFX, and offers competitive fees, a choice of trading platforms, and plenty of financial products to choose from. The firm serves over 200,000 customers worldwide, and conducts more than 2 million transactions per month.
AvaTrade are known for their commission-free trading model, innovative trading platforms, and easily accessible, multi-lingual customer support. AvaTrade’s spreads are a little high, which can of course, often be the case where there are no extra commissions and trading fees. There are also no discounted spreads for high-volume traders. In this AvaTrade review, we’ll cover the reasons why you may want to choose this broker, as well as the drawbacks, whether you’re investing in Forex, cryptocurrencies or other instruments.
Who does AvaTrade appeal to?
AvaTrade is a multi-asset broker with wide appeal. The broker provides many features that will make it attractive to newer traders, including online trading courses for new and inexperienced CFD and Forex traders, as well as general courses on important topics like technical indicators and trading strategies. They also offer other benefits to new traders such as a relatively small deposit requirement and negative balance protection, which guarantees that traders will not lose more than they have on deposit with the broker. This, along with the fact that everyone benefits from the same spreads, means that newer, smaller investors are well catered for.
AvaTrade does, however, provide for more experienced traders as well, with special perks and benefits available to those eligible to open a professional trading account, and a range of order types, technical indicators and trading platforms to suit investors at all levels. In short, AvaTrade is suitable for newer traders, but more than capable of growing with you as you progress to bigger, more frequent or more complex trading activities.
AvaTrade offers a couple of account types, with basic accounts for less-experienced traders and professional accounts for those who are eligible. To be eligible for a professional account you have to first open a regular account, then prove you meet two of three criteria: relevant experience in the financial services sector, high-volume trading (an average of 10 transactions per quarter over the last four quarters, with AvaTrade and/or with other brokers), or a portfolio of financial instruments (including cash savings) totalling over €500,000.
AvaTrade also offer Islamic accounts, which is not the case with every broker. These accounts operate under Sharia law. Again, you will need to open and verify a regular account, then apply for an Islamic account. Requests for conversion to an Islamic account go through review and approval process, but this should only take one or two working days.
Markets and territories
AvaTrade operates across many different countries, with its headquarters in Ireland, and offices in Australia, Japan, France, Italy, and South Africa. The company is fully regulated throughout Europe, and also in Australia, Japan, the British Virgin Islands and South Africa. AvaTrade’s trading websites are available in more than 20 languages, and multi-lingual customer support is provided as well. AvaTrade EU is authorised and supervised within the EU by the Central Bank of Ireland (CBI), and answers to the Financial Ombudsman Service. AvaTrade Ltd is authorised and supervised by the British Virgin Islands Financial Services Commission, with the Financial Services Commission as their complaints authority.
Instruments and spreads
The company offer a broad and diverse range of instruments, including indices, commodities, cryptocurrencies, and Forex. They also provide Exchange Traded Funds (ETFs) and trading via Contracts for Difference (CFDs). They are well known and respected in the area of trading Forex and Cryptocurrencies, and offer opportunities to invest in Bitcoin Cash and Bitcoin Gold, as well as Ethereum, Ripple, and Litecoin. Their Forex trading offerings include 59 Forex pairs, including some minor pairs and exotic pairs. They also provide spot trading within the Forex markets.
Spreads are dynamic and will, of course, vary across different financial instruments, but are always clearly displayed on the website. AvaTrade’s spreads can seem a little high, and high-volume traders are sometimes disappointed to hear they will continue to pay the same spread, regardless of trading activity. However, AvaTrade charges a few other fees.
Current spreads displayed on the website include the EUR/USD with a spread of 1.3 pips, the GBP/USD with a spread of 2.0 pips, the USD/JPY with a spread of 1.5 and the EUR/JPY with a spread of 2.2.
Fees and commissions
AvaTrade follows the popular no-commission model of trading but, as mentioned above, this simply means that the broker’s profits are taken from the spreads. This means that the spreads can generally be expected to be a little higher than some other brokers, who may have a lot of other hidden fees and charges. If you are new to trading, the spread simply refers to the difference between the buy price and the sell price of a financial instrument, and is generally expressed in pips.
The AvaTrade website is very transparent and there is a single page which lists spreads for each instrument, as well as other fees and important figures such as overnight interest calculations, minimum trade size and leverage offered. The minimum deposit is just $100 and AvaTrade does not generally charge deposit or withdrawal fees, although your bank or credit card company may well levy a fee on these transactions.
AvaTrade also charges inactivity fees on dormant accounts. These are currently stated as $50 after three months with no activity on an account, followed by a further $100 administration fee after 12 months of inactivity.
AvaTrade offers a great choice of trading platforms, including the ever-popular MetaTrader options, with both MT4 and MT5 available. MetaTrader software has long been an industry favourite, but the broker also offers their own custom trading platform, the AvaTradeAct platform, plus DupliTrade, RoboX and ZuluTrade, which all provide investors with the ability to automate online trading activity. There are options for web trading, mobile trading, and trading via Mac as well as PC.
AvaTrade’s trading platforms are intuitive, robust and flexible, offering easy access to a wide variety of integrated technical analysis indicators and a range of automation options, via tools such as AutoChartist and Expert Advisors. A high level of customisation is available, allowing the platforms to be tailored to the needs of customers.
There is the ability to access a range of third party tools, allowing traders to build their own customised suite of technical analysis, research, and trading tools.
Most tools are available to all customers, although a few carry an extra cost, or are only be available to some account holders. Direct access to AutoChartist, for example, currently appears to only be available to customers with a deposit of over $500.
Like most online brokers, AvaTrade provides a mobile app for both iPhone and Android. The apps function well and seem to provide a very similar experience to the desktop and web platforms, with access to charting tools, technical indicators and other vital trading tools.
Mobile traders can access all trading instruments, and can customise watchlists and set alerts. It’s also easy to access account details and analytics from the mobile apps. There is a handy news feed function integrated into the app, and educational resources can also be accessed via mobile devices. MT4 and MT5 traders can use the mobile version of these trading platforms, which offer all the same features as the main platform.
The apps have their limitations, but these are mainly the same issues most trading apps have.
Adapting the functions and features of the desktop platform to a much smaller screen can make information a little harder to find and more challenging to read, at least until you are used to the way the app functions. The order entry form is harder to read and navigate on a small screen and navigation around the app functions tends to take longer than on the desktop platform.
The apps also currently seem to be missing some of the extra security features that modern apps often integrate, such as voice recognition, fingerprint login, and remote logout.
Social trading and copy trading
This broker offers a number of different social trading and copy trading systems which will appeal to different traders. The DupliTrade option is particularly useful for copy trading, with an easy to navigate interface, allowing users to follow and replicate the trades of other successful traders, and build a diverse trading portfolio while gaining insights into other people’s successful trading strategies. This option also integrates well with the MT4 platform.
ZuluTrade operates in a similar way, but basically takes the recommendations of the traders you follow and automatically executes the trade for you. There is still a high level of customisation, in selecting the program or experts that are best for you and your trading objectives.
Crypto trading is one of the activities AvaTrade is known for. While there are many dedicated cryptocurrency exchanges around, not all the big brokers offer digital currencies as tradable instruments, and those who do may stick to only the very well-known coins such as Bitcoin and Ethereum. AvaTrade, however, offer trading in a wider range of virtual coins, including Bitcoin (as well as Bitcoin Cash and Bitcoin Gold), Ethereum, Litecoin, Ripple, Stellar, IOTA, EOS, Neo and Dash.
The broker claims to offer uncompromised safety when trading cryptocurrencies, and is one of the few brokers to offer a 24/7 service to its crypto investors, which is vital when dealing with such an active and volatile market. There are no commissions on trading digital currencies, with the profits taken from the spreads, as with regular Forex trading, and there are no broker-levied bank fees on crypto transactions either. Typical spreads for crypto pairs are clearly displayed on the website, along with other important stats related to leverage, margin and overnight interest. Clients are able to trade crypto to crypto and fiat to crypto, allowing for the trading of any cryptocurrency against USD, Euros, or any other fiat currency.
Charting and tools
AvaTrade provides plenty of charting options and other trading tools to make their customers’ lives easier. Their platforms, both mobile and desktop, integrate with a wide range of technical indicators, and the apps have in-built functions to allow for easy analysis and charting as well.
The AvaTrade website incorporates the SharpTrader.com platform which provides industry news, technical and fundamental analysis reports, an economic calendar, and a weekly market report, as well as advanced data analysis via AutoChartist reports.
The broker’s economic calendar is high-quality and extremely user-friendly, allowing for the integration of expectations, results, currencies affected, and historical data.
This offers AvaTrade clients a comprehensive and very easy-to-digest market overview, whatever their interests and trading objectives. The economic calendar can be used in conjunction with technical indicators, social trading data, and the other news and analysis supplied by the broker, providing savvy traders with a great data set and a lot of detail on which to develop their trading strategies.
This broker offers a range of industry research and education to its customers. The education section of the website is strong, with plenty of information on a wide range of topics. Educational resources are pitched at both new and more experienced traders. Some video tutorials focus on specific platforms, such as MetaTrader 4, which teaches MT4 traders not only the basics of how to use the platform, but also how to take advantage of some of the more advanced functions offered via MT4 software. In the education section of the site, you’ll also find a comprehensive video library with visual tutorials on various aspects of online trading.
AvaTrade break up their online trading courses into topics, to serve those trading in specific areas, such as CFDs or Forex. They also offer training on topics such as technical analysis and trading strategies, that can be implemented in any kind of trading. Most training is offered as both video-based and text-based courses, to suit the different learning styles of their client base.
AvaTrade also provide various research and analysis tools, and the Daily Briefing provides written commentary covering important financial market news, while the Daily Video covers the same information in a short video. This allows clients to consume daily market information in a way that suits their preferences and circumstances.
The education provided by AvaTrade is very substantial, and combined with the excellent news and research section, it is easy to see why AvaTrade is considered a good choice for newer and less experienced traders. The firm is clearly committed to helping their customers learn, grow, and develop their skills, with all research and educational materials grouped together in one place accessible from the desktop platforms and mobile apps.
Trader protections by territory
AvaTrade is a globally regulated online broker, based in Dublin and currently regulated in six different jurisdictions, across five continents. AvaTrade is regulated by:
- CBI – Central Bank of Ireland (this covers the whole of the European Union)
- FSA – Financial Services Agency, Japan
- FFAJ – The Financial Association of Japan
- BVIFSC – British Virgin Islands Financial Services Commission
- FSB – South African Financial Services Board
- ASIC – Australian Securities and Investments Commission
AvaTrade operates as a licensed investment firm under the Markets in Financial Instruments Directive (MiFID), and complaints can be made against the broker to the Financial Ombudsman in the EU, and the Financial Services Commission in other jurisdictions. Regardless of your jurisdiction, your money will be securely stored, with client funds kept separately, fully segregated from the assets of AvaTrade. This is an important factor which means client money is protected in the case of the firm’s insolvency and can never be treated as an AvaTrade asset.
Within the EU the company also offers an Investor Compensation Scheme, as an ICCL company, meaning that your deposit is partially insured, up to a maximum of €20,000. This scheme is not currently in place in other jurisdictions.
How to open an account
It is very quick, easy and intuitive to open an account with AvaTrade. Simply go to the website and click on Register Now. You will be asked to choose an account, and at this stage, there are only two options: a real account or a demo account. If you need a demo account in order to familiarise yourself with the platform, go ahead and open one. Alternatively, you can go straight for a real account. You can also easily upgrade from a demo account to a real account whenever you are ready. You will then be asked to provide your name and email address and specify if this will be an individual account or a joint account. You can then click on Create Account and you will be asked to fill in a simple registration form, and then verify your account.
To verify, you will need a government-issued ID (such as a passport or driver’s license) that shows your name, date of birth and a photo of you. You’ll also need further proof of your current address, such as a recent utility bill. Once the account is verified, you will be able to deposit your funds and start trading.
If you require a professional account or an Islamic account, you will be able to request this once your initial account set up is complete and your details are verified.
At AvaTrade, customer support can be accessed by phone, email, and via a live chat option on the website. Support is available 24 hours a day, five days a week, for most clients, and 24/7 for crypto traders. Customer support professionals seem very well-trained, helpful, and polite. Telephone and email responses are generally quick, although the response time for live chat can be quite slow during busy times of day. AvaTrade offer multi-lingual support, in over 20 languages.
In addition to these customer support channels, there is also a lot of helpful information available on the website, also in several languages. AvaTrade products and policies are clearly explained, and there is a useful FAQ page and searchable Help section, which answers many of the questions a new client might have, in a fair amount of detail.
The bottom line
AvaTrade is a well-established, fully-regulated, online broker with an international presence, a wide range of tradable assets, and a great choice of trading platforms. Both the desktop platforms and mobile apps are easy to navigate and highly functional. Other benefits include the comprehensive education centre, along with daily news and updates. The low deposit requirement, ease of account opening and risk-free demo account make it tempting for even the most inexperienced of traders. The ease of copy trading on the platform no doubt make it even more attractive to new traders. We also liked the negative balance protection, and deposit compensation scheme, although this is only available within the EU.
One possible drawback with AvaTrade is a lack of specialisation. The firm offers everything from indices to Forex, to cryptocurrencies, but many investors will see this as a positive, allowing them to branch out and diversify their portfolio, all under one roof. The lack of account choice might also put some investors off, as they may prefer tiered accounts where those who invest more get more perks, but again many will see this as a plus, allowing new investors to access the same benefits as the bigger and more experienced traders. AvaTrade is a solid choice for traders at all stages of their investing journey, especially those who are interested in flexibility and diversifying their assets.
How can I open an account with AvaTrade?
It takes no more than three minutes to open an account with AvaTrade. To open an account, you must visit the site and fill out your details in the provided account registration form.
Does AvaTrade offer an Islamic account?
Yes, the company offers customers to open an Islamic account in three simple steps:
- Registration and verification of accounts.
- Replenishment of a trading account.
- After replenishing the trading account, the client can apply for an Islamic account. This requires approval. Inquiries are usually responded to within 1-2 business days.
What fees does AvaTrade charge?
For replenishment and withdrawal of funds, AvaTrade does not charge a commission.
However, if the withdrawal amount exceeds 100 dollars, euros or pounds, then the broker does not cover the bank commission.
AvaTrade charges a fee for account inactivity. Currently, the inactivity fee for a trading account is $50 after three months of inactivity in the account, followed by an additional administrative fee of $100 after 12 months of inactivity.
How do I close my AvaTrade account?
The procedure for closing a trading account is quite simple, send an email to customer support or customer support asking you to close your account.
Ava Capital Markets Ltd., the retail forex arm of the international investment firm Ava Group, is a forex broker headquartered in Ireland. It is regulated by ASIC and the Irish authorities in accordance with MiFiD, the EU’s investment regulations under reference number C53877.
The forex trading platform and the retail currency trading branch of Ava Capital Markets Ltd. were launched in 2006 by a group of financial experts and IT professionals under the organizational umbrella of Ava Group.
AvaTrade is also available in Canada by collaborating with the local broker Friedberg Direct which is regulated by IIROC, the main regulator in Canada (Investment Industry Regulatory Organization of Canada).Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.