What we like about AvaTrade:
- Generous bonuses
- Wide variety of platforms
- Availability of Islamic trading facility
- Availability of Demo Account
AvaTrade is a Dublin based Forex broker which has been offering online trading services since 2006. The broker is owned by AVA Trade EU and has offices and sales teams in Paris, Milan, Sydney, Tokyo and New York. AvaTrade is a reliable, mature broker with a wide range of services, assets and trading platforms.
AvaTrade is licensed and regulated by the Australian Security & Investment Commission (ASIC); in Europe, AVA Trade EU is authorized by the Central Bank of Ireland, and licensed by the EU’s Markets in Financial Instruments Directive (MiFID). In Japan, the company is licensed and regulated by the Financial Services Agency (FSA). Its international operations are fully regulated by the British Virgin Islands Financial Services Commission (BVI FSC).
At AvaTrade, you can trade currencies, metals, stocks, Bitcoin, ETFs, indices, agriculture commodities and binary options. For major currencies, the average spread is 1-3 pips. In our opinion, these spreads are competitive as you don’t have to pay any commissions at AvaTrade. Leverage is up to 400:1 – quite acceptable for an ECN broker.
AvaTrade offers a wide range of trading platforms to its clients:
AvaTrader: It’s AvaTrade’s own trading platform, allowing forex and CFD trading with a single click; the tools and indicators are suitable for advanced level technical analysis, and its compatibility with robots/Expert Advisors (EAs) makes it suitable for automated trading.
MetaTrader4: MetaTrader4, better known as Mt4, is the most well-known online trading platform with many built-in indicators and technical analysis tools. Mt4 is also suitable for auto trading because of its compatibility with robots/EAs. Traders can use Mt4 on PC, Android, and iPhone.
AvaOptions: This is another of AvaTrade’s own trading platforms dedicated to trading in binary options.
Mac Platform: AvaTrade offers a dedicated Java-based Mac trading platform for Mac users. The platform ensures real-time execution, live quotes, charts and up-to-date news feed.
Web Trading: AvaTrade’s web trading platform is compatible with almost all web browsers. Over two hundred assets including sixty currency pairs can be traded via its web trading platform. The platform contains real-time quotes, charts and some indicators for technical analysis.
To find out more about the trading platforms offered by AvaTrade, simply open a demo trading account.
AvaTrade offers two types of trading accounts – conventional and Islamic. In conventional accounts, you get standard spreads (as mentioned above) as well as predetermined swaps or interest charges/earnings. On the other hand, the Islamic account is tailored for Muslim traders. You don’t get paid or charged overnight interest in Islamic accounts however such accounts have relatively higher spreads.
AvaTrade clients receive exclusive technical analysis reports, trading signals by auto-chartist and invitations to online webinars. This can be very helpful for beginner traders.
In addition, AvaTrade clients may get $40 to $10,000 welcome bonus, depending on the size of the first deposit. Trader benefits at AvaTrade vary by the size of your deposit. They have divided customers into four categories – Silver, Gold, Platinum and Ava Select – depending on the size of the first deposit. This table outlines various benefits for each category.
Deposit and withdrawal procedures at AvaTrade are quite simple. You can make a deposit (minimum $100) in many ways such as debit/credit card, bank transfer or through electronic payment companies such as Skrill and Neteller. To withdraw money, you will need to download a withdrawal form from AvaTrade’s dashboard, fill it up, sign and email to your account manager. Withdrawals are processed in 1 to 5 days.
AvaTrade provides 24/5 customer support including live chat service. Support is available in English, Arabic, Italian, Dutch, German, French, Japanese, Portuguese, Russian, Chinese and Spanish.