AvaTrade was founded in 2006 and was headquartered in Ireland. It earned a Trust Score of 93, which established it as a safe, reliable, and low-risk broker to trade with.
AvaTrade has offices in 11 countries around the world. It is known to be a multi-platform broker that caters to both algorithmic trading and social copy-trading. It provides reliable forex trading to its clients, especially with the perks that come with trading with them.
Note: AvaTrade is not publicly-listed. The broker also does not run a bank.
AvaTrade Security and Licenses
AvaTrade earned its reputation as a trusted broker because of the licenses it acquired from highly respected regulatory bodies. Founded in Ireland, this broker has licenses from three top tier regulators, which are the ASIC, the JFSA, and the IIROC. Aside from those, AvaTrade also falls under the regulations of three tier-2 regulators and two tier-3 regulators.
These licenses are what established the broker’s reliability in the industry. AvaTrade does provide reliability when it comes to trading. However, one detail to raise is that the broker does not follow two-step authentication, which, if implemented, could provide better security to the AvaTrade logins of their clients.
AvaTrade Trading Conditions
When it comes to the broker’s trading conditions, AvaTrade reviews are torn. They do provide quality trading services and competitive features, but some areas still fall short.
- Spreads. These usually stand at 0.9 pips average, which is strangely higher than its top competitors. This is applied to all AvaTrade account types.
- Leverage. Clients that live in European countries under the EU are eligible for leverage of 1:30 maximum. Clients outside the jurisdiction of the European Union can use 1:400 maximum.
- Investments. As AvaTrade continues to grow, so does the range of instruments it offers. Some of the assets that AvaTrade clients have the opportunity to trade include: 60 forex pairs, 681 CFDs, and cryptocurrency CFDs. They also offer Spot Trading in forex as well as copy trading. The disadvantage is that clients cannot trade individual cryptocurrencies.
- Fees. AvaTrade charges its clients an additional fee for every transaction done through its platforms. They also charge an overnight fee for trades that last beyond the trading day’s market hours.
- Payment Methods. AvaTrade provides deposit and withdrawal methods through debit/credit card, wire transfer, and online payment. If the client opens an account with a card, he is only required a minimum deposit of $250. However, if done through wire transfer, the AvaTrade minimum deposit is $500.
AvaTrade Platforms and Tools
One of AvaTrade’s strengths is its variety of trading platforms. The broker has its own developed platform. But it also offers third-party platforms, including MetaTrader.
- AvaTrade web platform – very user-friendly but lacks functionalities. It offers limited charting and few trading features. It could be good for someone who is just beginning to trade and learn the many functionalities of a trading platform.
- ZuluTrade & Tradency (Copy Trading) – AvaTrade is known for its advanced features in Copy Trading. According to various reviews, AvaTrade’s copy trading is at par with the industry’s top forex brokers.
- MetaTrader – the widely-known platforms MT4 and MT5 are also offered by AvaTrade. While MT4 is offered to all AvaTrade clients globally, MT5 is only offered in select areas.
- AvaTradeGo (mobile trading) – basically the mobile version of the AvaTrade web. It comes with AvaProtect, a protection feature on volatility. When it comes to options trading, clients can skip the tedious part of having to read traditional options chains and proceed to choose their strike price, strategy, and other factors.
AvaTrade Account Types
AvaTrade only offers one account type that already caters to all platforms provided by the broker. As stated above, the AvaTrade min deposit is between $250-$500. Payment methods include debit/credit card, wire transfer, and online payment.
If a potential client is still thinking of opening an account and is considering the risks that come with it, the broker offers an AvaTrade demo account that provides risk-free trading with maximum leverage.
AvaTrade Research Materials
While the educational materials offered by AvaTrade are not at par with the best, these certainly have distinct qualities. The broker only received an average score in this aspect due to its lack of necessary materials about trading. However, this is also compensated by some of its strongest features.
AvaTrade’s strongest research feature is its AutoChartist. It includes a wide range of pattern-recognition tools that will guide traders in finding trending opportunities. This is available for all clients that have deposited at least $500. Clients have access to daily news and articles on Fundamental and Technical Analysis.
Conclusion: AvaTrade Review
AvaTrade is a competent broker that continues to grow and adapt to new features and concepts in the trading industry. Despite not belonging to the top, AvaTrade has qualities that surpass even the most trusted brokers in the world.
Considering what we’ve researched about AvaTrade and other AvaTrade reviews, this broker is competitive in both forex and CFDs trading. Its array of platforms also adds to its excellent features. There have been no claims that this broker is deceitful or that AvaTrade scams traders who open an account with it. Since it earned a trust score of 93, it is safe to say that the broker is trusted. We would like to add AvaTrade to our list of recommended brokers.