AVATrade review

Trading is a personal and specific process for us all. What works for one person, doesn’t necessarily suit another. For that reason, choosing a quality broker to suit our specific needs is vitally important. 

There are many brokers out there and taking the time to compare and analyze is worth the effort. One popular broker is AvaTrade, an option suitable for both beginner and advanced traders. With strong regulation and a range of features, this broker is a high quality choice for many. But is it the right option in this case? 

We’ve put together this comprehensive AvaTrade, aiming to provide all the information required to make a strong, informed choice. 

TL;DR

• AvaTrade is a highly regulated forex and CFD broker with a solid reputation.

• Offers various trading platforms including MT4/MT5 and proprietary options.

• Strong educational resources and unique features like AvaProtect.

• Competitive spreads but watch out for high inactivity fees.

• Suitable for both beginners and experienced traders, with some limitations.

Criteria Breakdown: How We Evaluated AvaTrade

To effectively assess AvaTrade’s performance, we put together a list of criteria. These contain elements that all users will need when trading and overcoming any issues. 

These include regulation, customer support, tradable instruments, platforms, and fees. Additionally, we assessed AvaTrade’s accounts, educational resources, and its processes for withdrawals and deposits. 

About AvaTrade

Best Known For: Safety, Diversity, and Education

Founded in 2006, AvaTrade is a well-regulated, popular broker that has a significant global customer base. This broker has offices worldwide, including Australia and Dublin, Ireland. It is best-known for its excellent customer service, a range of trading platforms, and its user-friendliness. Additionally, AvaTrade is a prominent choice for traders that want to learn more, with a range of educational resources on offer. 

It’s important to note that users from certain countries are prohibited from using AvaTrade due to regulatory restrictions. This includes the US, Canada, Belgium, Cuba, and New Zealand. 

One of the biggest advantages of choosing AvaTrade is the range of accounts on offer. These cater to all ability levels and offer features across the board. Additionally, the affiliate program is an option for those who want to expand earnings. 

A standout feature is AvaProtect. This is a risk management tool that ensures traditing positions are protected against losses. To use this, it’s important to select the specific period that the feature needs to be active for; that way, trades are fully protected during that amount of time. 

Additionally, we should mention that AvaTrade offers a range of tradable instruments. These include forex, indices, stocks, commodities, bonds, cryptocurrencies, and ETFs. Portfolio diversification is easy with such a range of assets. 

Pros

Highly Regulated and Trustworthy

One of the first things we should look for in a broker is regulation. This gives peace of mind that our money and personal data are safe. AvaTrader has strong regulation, meaning that it adheres to robust regulations and offers transparency in its operations. 

ASIC in Australia, and the Central Bank of Ireland in the EU regulates AvaTrade. Additionally, it is regulated in South Africa, Japan, the UAE, and via CySEC in Cyprus. While this broker isn’t regulated in the UK, it does accept UK-based clients.  

Additionally, we can take peace of mind from the extra measures AvaTrade put into place to protect its clients. This includes funds kept separately from operating funds, negative balance protection, and a secure trading environment. The site has advanced encryption technology, two-factor authentication, and secure payment methods. 

Excellent Educational Resources

One of the areas where AvaTrade really shines is in its library of educational resources. Whether a beginner or an advanced trader, it’s possible to develop skills and knowledge via several routes. These include tutorials, eBooks, articles, and videos. Subjects include how to trade online, currency trading, copy trading, cryptocurrency trading, stocks, and financial derivatives. 

Tutorials are also offered on trading platforms, helping us to understand more about charting and technical analysis. The MetaTrader platforms have a range of such features and tutorials allow us to get the best out of them. 

Some of these resources may be redundant for more experienced traders. However, for beginner and intermediate traders, they are ideal for learning and development. 

User-Friendly Platforms

AvaTrade offers several trading platforms to choose from, including MetaTrader and proprietary choices. WebTrader is a user-friendly web platform that doesn’t require any downloads or installations. This is ideal for those who want to trade directly from a laptop or desktop. With a range of advanced charting tools, analytical indicators, and automated trading options, this platform is a great option. 

This broker also offers industry-standard MetaTrader 4 & 5, which have their own range of advanced tools. MetaTrader 4 in particular is a popular forex trading platform. Conversely, MetaTrader 5 is an updated version which has enhanced charting capabilities. This platform also provides access to a wider range of tradable instruments than its predecessor. 

For those who want to trade on-the-go, the AvaTradeGO app is available. This is a proprietary app that allows access to accounts, monitoring, and placing trades. It is available via iOS and Android, and is very easy to use. 

We can also mention automated trading, which is a key feature supported by the MetaTrader 4 & 5 platforms. We can all find this useful, as it allows us to use algorithmic trading strategies and expert advisors to execute trades automatically. As a result, we don’t miss profitable opportunities. 

A Range of Different Account Types

There are many account types that suit different needs and preferences. The Demo Account is the best place for beginners to start. This gives an environment for skill development without risking real money. It provides access to many trading instruments which can be traded via virtual funds. 

The Standard Account is designed for beginners ready to trade with real money. With low minimum deposits of $100, this account also offers variable spreads and leverage up to 1:400. 

The Retail Account is a good choice for experienced traders. This is reflected in the higher minimum deposit, which is $1000. This account offers variable spreads and leverages up to 1:30. A wider range of tradable instruments are available via this account, creating good potential for higher gains. 

The next option is the Professional Account, which is another for experienced traders. However, to sign up for this, specific criteria must be met. These include a certain trade experience level, trading volume, and financial knowledge. If accepted, this account offers access to many trading instruments, low spreads, and higher leverage, up to 1:400. 

Finally, AvaTrade offers an Islamic account. 

Competitive Spreads on Some Instruments

One of AvaTrade’s unique features is that it offers spreads over the market. This means that on any given day, we may pay slightly more than the market rate on a particular currency pair. However, we can trade without worrying about slippage or requotes. Spreads can also vary depending on market conditions. 

Spreads are variable on all accounts but overall they are very competitive. This does vary according to the specific instrument, so it’s important to research carefully before making a trade. However, AvaTrade does offer generally competitive spreads overall. 

Excellent Customer Service

If we run into a problem, we need to speak to someone and resolve the issue. This is sometimes difficult if customer service isn’t the best quality, but AvaTrade doesn’t have this issue. Most users state that this broker offers excellent customer service and it is available 24/5 via phone, email, and live chat. Additionally, support is available in several languages, making it accessible for most people. 

AvaTrade in general is renowned for its quality support and many users mention the fast response times and quality of advice. 

Cons

High Inactivity Fees

Some brokers don’t charge an inactivity fee, but AvaTrade does. This fee is charged after three months of inactivity, i.e. when the account is not used. Then, for every three months, if no activity is detected, another fee is charged. 

These fees are quite high compared to other brokers who do charge this fee. For USD accounts, the fee is $50, for EUR accounts it is €50, and it is £50 for GBP accounts. 

For active traders, this won’t be an issue. However, beginners may not trade constantly, and a gap of three months will cause this fee to be charged. 

High Pricing for Retail Accounts

There is only one specific account for experienced traders. The Professional account has many stipulations attached to it, which means most experienced traders will choose the Retail Account. However, the pricing structure attached to this account is quite high. For instance, the minimum deposit amount is $1000.

While it does offer better leverage and variable spreads, it may not be the most cost-effective choice. In this case, there are other brokers that offer a greater range of account types for experienced, active traders. 

Does Not Allow US & Canadian Clients

It’s worth mentioning again that US and Canadian clients cannot use AvaTrade. This is due to regulatory restrictions.    

Criteria Evaluation

Regulatory Compliance and Safety: 5/5

Trading Platforms and Tools: 4.5/5

Asset Selection: 4/5

Fees and Spreads: 3.5/5

Customer Support: 4/5

Educational Resources: 4.5/5

User Experience: 4/5

Account Types: 3.5/5

Deposit and Withdrawal Processes: 4/5

Additional Features: 4.5/5

Community Reviews and Expert Recommendations

Overall, AvaTrade receives positive community reviews. Many users mention the ease of use, range of platforms, and number of tradable instruments on offer. They also rate the quality and responsiveness of customer support. 

Experienced traders mention they would like a greater range of account types. They particularly mention the high minimum deposit required. However, overall, community reviews mention they like the range of features that AvaTrade offers. 

Industry experts largely agree with the comment from community reviews. They specifically define quality regulation and customer protections. Additionally, experts rate the number of analytical features and educational resources. 

Price

AvaTrade offers a generally cost-effective trading environment, however there are some fees we need to consider. Withdrawals are free, but there is an inactivity fee for accounts that are dormant for three months. 

Minimum deposits are $100 for Standard Accounts, but the Retail Account has a high minimum deposit of $1000. However, AvaTrade’s forex and CFD fees are average, compared to other brokers. 

Alternatives to AvaTrade

There are many alternative brokers on the market, should AvaTrade not be the best fit. In this section, we will explore some notable choices. 

RoboForex

RoboForex is a popular broker that was established in 2009. It offers 0% commission on deposits and withdrawals. There is a copy trading feature which allows us to learn from successful trades, and a range of educational resources. RoboForex offers a range of tradable instruments and platforms. 

Learn more in our RoboForex review. 

EXNESS

Exness is a recognizable name and a strongly regulated broker. There are a range of accounts for different needs, including more choices for advanced traders. There are no hidden commission fees and narrow spreads across all accounts. 

Discover more in our Exness review. 

FXGlory

Founded in 2012, FXGlory is a good alternative broker choice. It offers high leverage for experienced traders, and very user-friendly platforms. There are many charting tools on offer, and several account types. However, it does lack strong regulatory oversight, which may be a concern for some. 

Visit our FXGlory review for more information. 

FPMarkets

Our final alternative is FP Markets, a broker with several strong regulatory licenses and a good reputation. This broker offers a range of tradable instruments, and high leverage of up to 1:500. FP Market has excellent customer service and offers several accounts for different needs. 

Read more in our FP Markets review. 

Final Thoughts

There are many brokers on the market, and it’s important to assess several before making a final choice. AvaTrade is a broker with a long history of happy customers and has a real focus on education. This AvaTrade review has aimed to cover all the necessary information. 

It is a good choice for both beginner and advanced traders, although it lacks several accounts aimed toward advanced users. Beginners will enjoy the Demo Account and the Standard Account offers suitable conditions and cost-effectiveness. 

With strong regulatory oversight and many customer protection mechanisms, AvaTrade brings peace of mind. It has a real focus on education, which is ideal for beginners in particular but also those who want to improve their skills. 

The AvaProtect feature stands out for risk-averse traders in particular, along with countless other features. While some of the fees may not be the lowest on the market, this broker does bring value to the table. 

Here at TopBrokers we understand how confusing it can be to find the best broker for specific needs. For that reason, we offer a range of reviews and comparisons to help you make the best choice. For instance, we offer guidance on forex trading for beginners and more. Our resources are on hand to guide you toward the best outcome for your trading endeavors.