11 mins readI scheduled a meeting with my account manager, but they didn’t attend, and my follow-up email went unanswered. Their unique approach is interesting, but the poor responsiveness from customer service was disappointing.
Overview
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...
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.
Criterion | Description | Importance |
Regulatory Compliance | Ensures broker's legitimacy and safety | Critical |
Trading Platforms | Quality and variety of available platforms | High |
Asset Selection | Range of tradable instruments | High |
Fees and Spreads | Cost of trading with the broker | Critical |
Customer Support | Quality and availability of assistance | High |
Educational Resources | Training materials for traders | Medium |
User Experience | Overall ease of use and reliability | High |
Account Types | Suitability for different trader levels | Medium |
Deposit/Withdrawal | Ease and speed of fund transfers | High |
Additional Features | Unique offerings that add value | Medium |
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.
Image Credit: AvaTrade
AvaTrade is a popular and well-regulated broker for all trading needs.
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.
Image Credit: AvaTrade
The AvaTradeGO app is ideal for those who want to trade on-the-go.
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.
Image Credit: AvaTrade
AvaTrade offers competitive trading conditions and fees
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.
Image Credit: AvaTrade
AvaProtect is a risk protection tool to give peace of mind to traders.
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.
Countries
+220
+220Minimum deposit $100Bonus Up to $250 Refer a Friend Reward by AvaTradeWithdrawal fee $0Deposit fee $0Max insured €20,000
Our Verdict 4.3 / 5
See our process of evaluating brokers
Commissions & Fees4.4 / 5
Deposit & Withdrawal4.1 / 5
Customer Support4.3 / 5
Account Opening4 / 5
Regulation & Safety4.8 / 5
Pros
- Highly Regulated and Trustworthy
- Excellent Educational Resources
- User-Friendly Platforms
- A Range of Different Account Types
- Competitive Spreads on Some Instruments
- Excellent Customer Service
Cons
- High Inactivity Fees
- High Pricing for Retail Accounts
- Does Not Allow US & Canadian Clients
General details
Type of accountsStandard Accounts
Trading platformsMetaTrader 4MetaTrader 5
Execution modelMM
Deposit currency
EURGBP
USDAUD
NZDCADCHF
EURGBPUSDAUDNZDCADCHFDeposit payment systems
Withdrawal payment systems
Support languagesEnglishArabicHungarianSpanishItalianChineseKorean
DutchPolishPortugueseRussian
EnglishArabicHungarianSpanishItalianChineseKoreanDutchPolishPortugueseRussianAuto tradingAvaSocialAvaTradeGODupliTradezulutrademqlMT4 EAMT5 EA
Customer reviews
Overall score 2.4 / 5 · 12 customer reviews
Read real reviews from traders all over the world:
The platform looks great and the service is very helpful, making trading feel less stressful. The learning courses add real value and making the overall experience even better.
Very few brokers provide follow ups like this. It was a great experience my questions were answered clearly, and I truly appreciate the effort. 🙏
Advantages: Easy account opening
Disadvantages: Fishy spreads, buggy platforms
The real spread is not what they show in their platform. Sometimes they show you fake prices with low spread. I discovered this in BTCUSD trading. The buy price was higher than the price visible in the Tradingview platform and the sell price was lower. So the actual spread was two times what they show you.
Advantages: none
Disadvantages: Bad management
I finally reclaimed my funds when I involved globalreclaimai from their website and they presented a case before Avatrade that helped get all my funds back but they have good spreads on their platform
Advantages: NONE
Disadvantages: Pushy business and development managers
AvaTrade’s Business and Development Managers are too pushy. They call almost every day to ask me to deposit more into my account to receive only the best service possible. Shouldn't I be doing this naturally? They’re tagline “trade with confidence”? It’s total nonsense. They’re good when you deposit money, but when you encounter problems, they disappear.
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Just yesterday i notice some strange behavior from my daughter of 15 years old. though i tried asking her some questions she said its nothing. i had to hire [email protected] so i could be able to gain access to my daughter phone in a way she would never know, after some hours i got full results and access to my daughter phone without going close to her phone. After going through my daughter phone i noticed from her conversations with her friends that my daughter has been practicing lesbianism. please parent always look out for your kids make underground investigation just to make sure they are on the right track. Whatsapp him +12899600524
Advantages: scammer
Disadvantages: scammer
Avatrade was my first ever forex broker. At first they were really fine, like my trades were executed in a fast manner. But after a few months, when I started to notice strange and huge increase in their spreads. One time I was winning a EUR/USD trade when I saw their spread increased significantly. This turned my winning trade into a loss. It’s unbelievable. I raised this to my account manager but only to get scolded that I should’ve not traded when the market was too volatile. No, this wasn’t the case, I knew it.
Advantages: Fishy broker
Disadvantages: fishy broker
Avatrade is all sweet and nice to get you to deposit money into your trading account. But once you do it, the nightmare starts. One of their account managers got me into putting money in my trading account but once I did, it was freaking hard to get my account verified to be able to take out money from the account. Their support would always say it would take 24 hours, and then another 24 hours and then another day. They kept on asking for clearer copy of my ID and utility bill when I had sent them the clearest copy ever LOL. It took them a week to verify my account, but immediately I decided to withdraw the funds cos I felt there was something off with Ava and how they dealt with things.
Advantages: good forex broker
Disadvantages: no
Got interested in cryptocurrencies in 2017. It was so hard to find a good broker that offers both Forex and crypto trading. I’m lucky that I found Avatrade. I like that they have various financial assets like currencies, CFDs, and cryptos. I like that I can trade the latter even on weekends! Execution at Avatrade is just quick, plus a fast withdrawal process which takes within an hour through Skrill.
Advantages: none
Disadvantages: none
request for my money back from plusoption and thats where i realized its all a scam and they have been manipulating me and my account. Now how do i get my money back? ill just say i got lucky coming in contact with someone who helped me get most of my money back. so now i have made up my mind not to try any of these
Accounts
Type of Trading Accounts on AVATrade
AVATrade offers various trading accounts to cater to the needs of different types of traders, from beginners to experienced professionals.
- Standard Account: The Standard account is designed for beginner traders in the Forex and CFD markets. The minimum deposit requirement for a Standard account is $100. It offers variable spreads and leverages up to 1:400. The account also provides access to various trading instruments, including Forex, stocks, indices, commodities, cryptocurrencies, bonds, and ETFs.
- Retail Account: The Retail account is designed for traders with more Forex and CFD market experience. The minimum deposit requirement for a Retail account is $1,000, which offers variable spreads and leverages up to 1:30. The account also provides access to a wider range of trading instruments, including Forex, stocks, indices, commodities, cryptocurrencies, bonds, and ETFs.
- Professional Account: The Professional account is designed for experienced traders who meet specific criteria, such as having a certain level of trading experience, financial knowledge, and trading volume. The account provides access to various trading instruments, including Forex, stocks, indices, commodities, cryptocurrencies, bonds, and ETFs. The account also offers lower spreads and higher leverage, up to 1:400, depending on the instrument traded.
- Demo Account: AVATrade also offers a demo account for beginners who want to practice their trading strategies and test the trading platforms without risking their capital. The demo account provides access to various trading instruments and allows traders to trade with virtual funds.
Trading Denominations on AVATrade
AVATrade allows traders to deposit and trade in currencies, including USD, EUR, GBP, and AUD.
Company Structure
AVATrade was founded in 2006 to provide a reliable and user-friendly trading environment for Forex traders. Since its inception, the company has experienced exponential growth and expanded its services to cater to traders of all levels. Today, AVATrade has thousands of registered customers globally and executes over two million monthly trades, with total trading volumes surpassing $70 billion.
The AVATrade Forex Broker is a multinational company with regional offices and sales centers in Paris, Dublin, Milan, Tokyo, and Sydney. AVATrade's global presence enables it to provide localized support to its clients, making it easier for traders to get assistance in their preferred language and time zone. The company's administrative headquarters are located in Dublin, Ireland.
The company has won over 30 reputable industry awards since 2009, including Best Forex Broker, Best Trading Experience, and Best Customer Service awards. These awards are a testament to AVATrade's commitment to providing its clients with high-quality services and a positive trading experience.
AvaTrader - AVATrade
Phone trading Scalping Hedging Trading with expert advisers Trading 24 hours a day Trailing stop Interest on free balance Mailing the documents
Trading platformsAVA TRADER
Deposit currencyUSDEUR
Trading instruments
- Forex1:200
- CFDs Promotions, Indices, Products1:200
- Metals Silver1:200
- Energy Source Oil, Gas1:200
- Cryptocurrencies
- Min deposit100 $
- Max leverage1:0
- Execution typemarket
- Spread typefloating
- Minimum position size0.01 units
- Max. number of orders500
- Decimal places5
- Margin Call10 %
- Stop Out10 %
Standard MT4 - AVATrade
Phone trading Scalping Hedging Trading with expert advisers Trading 24 hours a day Trailing stop Interest on free balance Mailing the documents
Trading platformsMetaTrader 4MetaTrader 4 Mobile
Deposit currencyUSD
Trading instruments
- Forex1:400
- CFDs Promotions, Futures, Indices, Products1:200
- Metals Gold, Silver1:200
- Energy Source Oil, Gas1:200
- Cryptocurrencies
- Min deposit100 $
- Max leverage1:
- Execution typemarket
- Spread typefloating
- Max. number of orders500
- Decimal places4
- Margin Call10 %
- Stop Out10 %
Tradable instruments
Tradable instruments on AVATrade trading platforms include:
✓Currencies55
✓Stocks60
✓Indices23
✓Commodities17
✓Cryptocurrencies18
Frequently asked questions
Find the right answer to your question below.
Is AvaTrade safe to use?
AvaTrade is a highly regulated broker providing extensive customer support. This includes negative account balance, segregated funds, and encryption. Having been founded in 2006, AvaTrader has a long history with great reviews and comments from industry experts.
What trading platforms does AvaTrade offer?
AvaTrade offers several trading platforms. It offers MetaTrader 4 & 5. These are industry-standard platforms which come with a range of charting tools and features. This broker also offers a Web Trader platform, which doesn’t require any downloads or installation. For trading on-the-go, AvaTradeGO is the proprietary app which is available on iOS and Android.
What are the minimum deposit requirements for AvaTrade?
AvaTrade has different minimum deposits depending on the type of account chosen. The Standard Account requires a $100 minimum deposit. However, the Retail Account requires a higher minimum of $1000, which is a considerable amount compared to many other brokers. One of the main negative comments about AvaTrade concerns the lack of diverse accounts for experienced traders. The Retail Account is the prime choice for these types of traders and with a high minimum amount, it can be alienating for some.
Does AvaTrade offer a demo account?
AvaTrade offers a Demo Account which is ideal for beginners. This allows new users to practice their trading skills and strategies without the risk of using real money.
What customer support options does AvaTrade provide?
AvaTrade offers excellent customer support which is available through email, telephone, and live chat. Support is available 24/5 through several languages. Many users rate AvaTrade’s customer support responsiveness and quality very highly.
