8 /10
Overall Rating
AvaTrade Review & Rating [yyyy]

AvaTrade Review & Rating 2021

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In every broker review, we focus on the information available to clients with direct contact with the brokers representative. Furthermore, we often consult with traders having accounts on the broker to get a neutral opinion about the services offered. Overall we use direct interaction with the broker, public opinion analysis, live and demo account testing, and even the accuracy of the price chart.

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Full Review for AvaTrade will be Live Soon!

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AvaTrade is the smart trader’s choice, with a selection of cutting-edge platforms, including MT4, MT5, WebTrader, AvaOptions and the Award-winning AvaTradeGO app. Take your pick from a choice of popular global instruments, and use helpful tools like Trading Central, as well as the unique risk management tool AvaProtectTM that offers you the safest way to trade.

However, there is more to know about this broker. Is it wise to make an account here? Continue to read AtoZ Markets’ full AvaTrade broker review to learn more.

Overview

Company
8 /10
Trust
9 /10
Trading Platform
9 /10
Account Types
8 /10
Cryptocurrency
8 /10
Costs
9 /10
Customer Support
9 /10
Regulation
9 /10

Company

8 /10

Founded in 2006, AvaTrade is a well-established Forex/CFD broker and has the company's administrative headquarters in Dublin, Ireland. AvaTrade was one of the first major brokerages in the retail Forex/CFD field, so it has a lengthy track record.

Interestingly, AvaTrade is the first Forex broker to receive a 3A license in Abu Dhabi, which allows the brokerage to offer both retail and professional trading services. AvaTrade allows its clients to trade 55 different Forex currency pairs and crosses, including some exotics, 17 commodity CFDs, 20 equity indices, 14 cryptocurrencies, and CFDs on 500 individual stocks and shares. 

In addition, the broker provides a pack of digital currency trading to ordinary retail traders and offers an innovative risk management tool - AvaProtect which you can use for free. 

Pros and Cons of AvaTrade

Pros

  • 1250+ instruments available including , Cryptocurrencies, Stocks, Commodities.
  • Multiple trading platforms including Award-winning AvaTradeGO app.
  • EA compatibility
  • Competitive spread and leverage offering
  • Client funds are held in segregated accounts for increased security.
  • Regulated in Europe, Australia, Japan, British Virgin Islands, UAE and South Africa.
  • Highly responsive customer support

Cons

  • Does not provide services to Belgium, Brazil, Democratic People's  Republic of Korea (DPRK), New Zealand, Turkey, USA.
  • Phone support is not available 24x7

Trust

9 /10

During our review, we found that AvaTrade emphasizes transparency to meet the trader’s expectations. Therefore, the company has taken several measures to ensure the safety of funds.

AvaTrade complies with the highest safety standards for the client's funds. For this reason, AvaTrade client's funds are kept in top-tier international banks, such as ANZ Bank, Danske Bank, NatWest Bank, fully segregated from the company's funds.

Furthermore, AvaTrade strictly follows the regulatory compliance audit with regular accounting audits for traders' pace of mind. As forex trading puts pressure on trader's minds, keeping funds separate from broker's funds ensures traders enjoy a hassle-free trading experience.

Besides the fund safety, this broker published all of its legal documents on the website. Therefore, traders can see how the company is operating with its partners.

Trading Platform

9 /10

AvaTrade clients can opt for multiple ways to trade according to their requirements and ease. The broker offers a selection of manual trading platforms – a well known MetaTrader 4 and MetaTrader 5, WebTrader and AvaTradeGo – with full mobile trading support. 

AvaTradeGO has been voted as the No.1 Best Forex Trading App 2020 in Global Forex Awards where you can enjoy a smooth trading experience with a sophisticated dashboard, complete with a set of intuitive management tools, clear charts, zoom for details, and many more helpful features unique to this app.

With AvaTradeGO you can:

  • Watch markets in real time
  • Monitor social trends from the AvaTrade vibrant traders community.
  • Access key financial information for clear analysis.
  • Track other traders' buy & sell and trading behavior patterns. 

Account Types

8 /10

AvaTrade does not diversify clients by the choice of account types but offers a single Standard account, just further, defining specified conditions for Corporate account or Islamic Account. Also you may open a Demo account at the beginning to test brokers’ environment.

The demo is topped up with $100,000 so that beginner traders have enough margin to practice. The practice account remains valid for a period of 21 days but you can extend this timeframe by contacting the customer support before the expiry takes place.

Once you feel confident enough in your trading skills, you can switch to a live account. They will require you to undergo obligatory verification by uploading photos or scans of some documentation. The leverage of retail live accounts is restricted to 30:1.

Accounts Swap free available for traders following Muslim belief or the ones who wish to trade markets according to Sharia principles, which is definitely a great option for traders.

Cryptocurrency

8 /10

AvaTrade offers an opportunity to start to trade cryptocurrencies such as Bitcoin, Ethereum, Ripple and various altcoins immediately with no risk of hacking or cryptocurrency wallet theft.

Costs

9 /10

AvaTrade is one of the forex brokers in the market which keeps transparency about the costs and fees. Account opening charges for both real and demo trading accounts is free of cost. To start trading with the real account, you need to make a minimum deposit of $100, which we can say is reasonable as per industry standards. 

It is easy to deposit and withdraw your money as the broker is integrated with  PayPal, NeTeller, Skrill, MasterCard, Visa and WebMoney. Moreover, you can also apply for an AVA Debit Card. This will allow you to deposit and withdraw funds without any paperwork. The maximum leverage allowed is 400:1.

Customer Support

9 /10

AvaTrade's multi language customer support service is available 24x5 days in multiple languages worldwide. AvaTrade's support is available via global phone numbers (depending on jurisdiction), email and live chat directly from the broker's website.

Regulation

9 /10

AvaTrade is regulated by tier1 jurisdictions such as the Central Bank of Ireland, ASIC (Australia), FSCA (South Africa), FSA-FFAJ (Japan), FRSA - ADGM (Abu Dhabi), and FSC (BVI).

Conclusion

As per our findings, AvaTrade is a reliable forex broker and a perfect solution for traders who insist on flexibility. The broker offers a choice from multiple platforms and a huge variety of financial instruments to trade from. 

On top of that, different account types are available for clients of all experience levels. The broker is exceptionally well-regulated in top-tier jurisdictions like Australia and Ireland, which further adds to its credibility and trust.

On the drawback, AvaTrade is a market maker. Traders should understand what this means and what stance the broker takes against traders at each trade made. In overall, we can say that AvaTrade is a reliable forex broker, however, we highly recommend our readers to do their own research before opening a live account.

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