AvaTrade review (2022) Review
AvaTrade is currently a major international forex broker, officially operating in five jurisdictions. In the EU, the AvaTrade brand is represented by AVA Trade EU Ltd, registered in Ireland and accredited by the Central Bank of that country (registration number: C53877). Ava Capital Markets Australia Pty Ltd is licensed by Australian Securities & Investments Commission (ASIC) License Number: 406684. Ava Trade Ltd is domiciled in the British Virgin Islands and is accredited and licensed by the Financial Services Commission, BVI FSC.
Japan Ava Trade Japan K.K. is accredited and licensed by the Financial Services Agency of Japan (license number 1662) and by the Japan Financial Futures Association (license number 1574). In South Africa, AvaTrade is accredited by the Financial Services Authority of South Africa (FSCA) under the legal name of Ava Capital Markets Pty Ltd. We will try to make an overview of this famous forex broker.
The trading conditions offered by AvaTrade depend on the jurisdiction in which you have an account. Ava Trade Ltd offers a wide range of financial instruments: more than 50 currency pairs, more than 100 CFDs on stocks and funds, commodities, cryptocurrencies, indices and forex options. As for the spreads, they are hardly minimal. For example, spread on GBPUSD currency pair is about 2 pips on average, on GBPNZD currency pair is over six pips.
Minimum deposit $100, maximum leverage 1 to 400 on currency pairs and indices, 1 to 200 on commodities. Minimum order size is 0.01 lots, type of order execution is by market. Please note that if there is no trading activity on account, tangible commissions might be charged ($100 and $50 respectively).
AvaTrade offers its clients to trade using Metatrader4 terminals, AvaTradeGO app and AvaOptions platform. The MT4 terminal is available for various operating systems as well as the web-based Metatrader. No problems with order execution delays on a quiet market. For those who like social trading, there is an option to copy trades of experienced traders through ZuluTrade and DupliTrade (MT4 compatible platform).
A virtual account provided by many brokerage companies is a great way to gain experience with zero risk. A demo account can be safely called a trading simulator or a practice account. Using it, any speculator, and especially a beginner, practices trading with a wide range of financial instruments, including stocks, futures, options, CFDs and cryptocurrencies.
AvaTrade offers its users a free virtual account in a few simple steps, just to fill in name, surname, email address and phone number. This account is a great ‘testing ground’ to start getting acquainted with the broker’s offerings. Moreover, a typical AvaTrade demo account will be available with every trading platform and is valid for a 21-day period. However, the user can easily extend it by contacting customer support or their account manager.
Immediately after depositing the virtual funds, you should immediately try the risk simulator to assess your capabilities and build multitasking strategies. This will help take personal options trading to the next level. The demo also includes access to the options trading platform, so anyone committed to these assets can give it a test drive before funding their already real account with real money.
Depositing and withdrawal
Customers of Ava Trade Ltd may replenish their trading accounts via bank cards, bank transfers, electronic money (Skrill, Neteller). Deposits from payment cards are credited instantly, deposits via electronic payment systems are credited within 24 hours, bank transfers are credited within seven days.
The AvaTrade customer support team is available 24 hours a day, seven days a week. The customer may ask a question by online chat, phone or email. Support is available in ten languages and online chat operators are always available.
Advantages and disadvantages
A project with 11 years of experience in the financial market points to its advantages:
- A large number of positive feedbacks from clients.
- Wide range of different market trading instruments.
- Reliable and user-friendly trading platforms.
- Lack of trading and scalping limits.
Cons of AvaTrade
- Fee for the inactivity in the account.