|MINIMUM DEPOSIT||100 (£/S/€)|
|REGULATION||CBI, FSCA, ASIC, BVI, FSC, JFSA, FRSA|
|TRADING ASSETS||FOREX, STOCKS (CFDs),|
CRPYTOCURRENCIES, COMMODITIES, OPTIONS
|OVERALL RATING||4.5 out of 5.0 stars|
|COSTS TO TRADE||3.9 out of 5.0 stars|
|TRADING PLATFORM||5.0 out of 5.0 stars|
|TRADING APP||4.8 out of 5.0 stars|
|PAYMENT METHODS||4.5 out of 5.0 stars|
|DEMO ACCOUNT||5.0 out of 5.0 stars|
|ACCOUNT TYPES||4.0 out of 5.0 stars|
|CUSTOMER SUPPORT||4.7 out of 5.0 stars|
AvaTrade Review – with claims to be the best regulated forex broker globally, is AvaTrade trusted?
This AvaTrade review will begin the way we start any of our forex broker reviews. Firstly we evaluate whether the broker can in fact be trusted, and passes the scam test. This is task is easier than most with AvaTrade, as there are regulations stretching across 6 continents and more offices than you might care to count.
The journey of AvaTrade into an online trading juggernaut began more than 15 years ago, and the pace of growth and innovation mark this forex broker out as one for the shortlist. Now let’s get into the detail of the review and some pros and cons of AvaTrade.
With Regulation Across 5 Contintents, South America and Antarctica Remain The Untrodden Ground For AvaTrade
AvaTrade can claim to be the most widely regulated forex broker globally which gives a huge amount of reassurance when looking for a safe broker to trade with. This regulatory reach means that you will be engaging with a different office of AvaTrade depending on where you are located, and which regulator is governing you.
There are 6 different entities which we will break down below. Whilst there are some variations between the offices, there are also some standard protections offered across the board. These include negative balance protection, segregated client accounts, 15 supported languages, and free deposits and withdrawals. Each of these protections are solid positives for AvaTrade. Let’s take a look now at the different offices and some of the differences between them.
Europe – Ava Trade Europe Ltd
In Europe, AvaTrade operate under Ava Trade Europe Ltd (registered in Dublin, Ireland and operating with CBI regulation C53877). When trading within Europe, you will find maximum leverage (as a retail trader) of 1:30, and ICCL deposit compensation scheme eligibility. There is also the option to use spread betting if you are a UK resident, which is exclusively available within AvaTrade’s European office.
Oceania – Ava Capital Markets Australia Pty Ltd
The Australian branch of AvaTrade holds ASIC regulation (No.406684) and holds accounts with Commonwealth Bank. If you do ever needs your complaints authority, that will be the AFCA. There are a good range of local index (ASX) products to trade with AvaTrade Australia and you will find leverage up to 1:400, depending on the instrument you are trading. ASIC is regarded as a Tier 1 forex regulator and a sure sign of commitment from a broker to obtain local licensing.
Asia – Ava Trade Japan K.K, Ava Trade Middle East Ltd
Seeing as Asia is the worlds largest, and most populous continent, it is no surprise to know that there are multiple regulatory bodies here to navigate. AvaTrade hold regulation with some of the more stringent of these regulators in both the FSA (Japan, licence 1662) and FRSA (UAE, number 190018).
AvaTrade Japan hold client accounts with Societe Generale and provide leverage of up to 1:25.
AvaTrade Abu Dhabi office uses Barclays Bank and supports leverage of up to 1:400.
Africa – Ava Capital Markets Pty
The presence of AvaTrade in Africa should come as no surprise, and the office in South Africa has been serving clients for many a year. Regulation is held in South Africa by FSCA (number 45984) and clients are offered ABSA Bank for funding purposes.
North America – Ava Trade Ltd* plus Friedberg Direct as trading partner for Canada
AvaTrade have an office in British Virgin Islands (BVI Financial Services Commission SIBA/L/13/1049) operating under the name Ava Trade Ltd. Whilst this regulation does technically provide North American reach, it does not allow onboarding of US residents.
There is Canadian regulation with IIROC which is provided via AvaTrade’s agreement with Friedberg Direct. You can effectively trade on the AvaTrade platform but with the regulatory support of Friedberg Direct. Having a partner with almost 50 years’ track record as a regulated investment firm in Canada is a rather strong show of commitment to providing regulated access to the award winning platform offered by AvaTrade.
AvaTrade Provide Global Access, With A Few Notable Exceptions
Wherever you find yourself in the World today, you will likely have an option to trade with one of AvaTrade’s offices. There are a few exceptions to the rule however, with the main one being no trading support for US residents.
Combining this global reach with a multi award-winning track record of 15+ years as a trusted forex & CFD broker, it is clear to us that AvaTrade is not a scam but a trusted place for you to trade. We will delve into the details of the what AvaTrade offer below in the next steps of this broker review.
AvaTrade Trading Fees
3.9 out of 5.0 stars
This is a forex and CFD broker that have built their offering around providing a great product to their traders. No trading platform can truly be considered great without have better than reasonable trading fees.
AvaTrade have started this year with a review of the trading fees offered to make their platform as competitive as possible.
You will find competitive spreads with AvaTrade, although the exact range will depend on the account type you are using and your own classification. EUR/USD for example has a range from 0.6pips if trading on the ‘Pro’ marked account, versus 0.9pips for the ‘retail’ account. As the majority of new traders are going to be classified as retail, moving forward in this AvaTrade review we will be focusing on the retail proposition.
AvaTrade spreads of 0.9 are not industry leading for major pairs, but this is still very much within the range of being considered competitive. You will find a margin requirement of 3.33% for a retail European trader with a major pair, dropping to 0.25% if you are located in another jurisdiction.
The minors and exotics with AvaTrade are quite wide, with USD/ZAR as one example being 85 pips and USD/EUR 90 on average. Having wide spreads on minors and exotics is not unusual, due to the liquidity but it must be said that there are more discounted brokers available if these will make up a decent portion of your trading activity.
Financing & Rollover Rates
There are varying financing rates with AvaTrade depending on the asset you are trading. If you are looking at major forex pairs such as EUR/USD you will find annual financing rates of around 2.3%, whereas holding stocks CFDs will cost up to 6% annually. Whilst these rates are pretty average for CFD brokers, you can find better value if you look at some of the other forex reviews we have completed
Other – AvaTrade Deposits & Withdrawals
AvaTrade are not charging users for any deposit or withdrawal. This is a plus, and compares very well to other brokers who are still charging for this in 2021.
There is an inactivity fee charged of $50 after 3 months of non usage. This is then charged again each quarter.
Trading Fees Summary
Costs with AvaTrade when looked at holistically are very reasonable and compare to some of the best CFD brokers in the industry. There are some brokers which are a lot more forex focused which are ahead of AvaTrade on the fees front particularly when it comes to spreads.
That being said, the fact there are no deposit or withdrawal fees is an advantage or you make regular transactions in and out of your account.
Overall an average fee structure from AvaTrade but this is not what makes them a serial award winner. Better categories ahead for AvaTrade but they deserve an average score for the ‘majors’ pricing and overall fee breakdown.
AvaTrade Costs Rating – 3.9 out of 5.0 stars
AvaTrade Platforms – MT4, MT5, WebTrader, Ava Options, AvaTradeGo, AvaSocial
5.0 out of 5.0 stars
There are more trading platform types with AvaTrade than you can count on one hand. For some choice can be a bit of a burden, but providing a specialist platform per type of trading should only be looked at as a positive. Each platform provides something different, and makes your trading experience as intuitive as possible, whatever system you are used to using.
You can find MT4, MT5, WebTrader, and MQL5 Signals services all available when trading on desktop. If you have done any sort of trading in the past, or read any of our other broker reviews, you will have come across MetaTrader platforms numerous times before. We will begin this section of the AvaTrade review by looking at the WebTrader platform.
WebTrader : The desktop, no download platform for trading
WebTrader gives you a simplistic, yet fully loaded platform to trade on, without having to download anything onto your computer. This is a proprietary system, meaning custom made for AvaTrade, and is available to be used on PC, Mac, and any browser. WebTrader is very easy to use, simple to pick up and run with for novice traders, but also with enough ‘meat on the bone’ to satisfy the more advanced among us.
What that means in reality is a platform filled with a wide range of indicators, the ability to see live market sentiment, and the option to use AvaProtect. You will find Trading Central built in, with all the benefits of live pattern recognition immediately apparent. It just makes it easier to trade, and see how the rest of the market is trading. That is value for every trader of every level.
For a glimpse of WebTrader in action, see the below video.
MetaTrader Solutions : MT4, MT5 with AvaTrade
MT4 has been around longer than AvaTrade, with a near 20 year history from their launch in 2002 as an online trading platform giant and first choice of the masses. So what are the features of the AvaTrade MT4 offering and how does this measure up to competitors?
There are 30 indicators, and 3 chart types, along with 24 ‘graphical objects’ that AvaTrade provide to help make the most of your charts. 9 different time frames should provide enough of a range to look at both short and long term patterns, with 1 click trading giving you the edge to make sure that your trades are executed with the minimum of fuss.
You can trade on the AvaTrade MT4 platform on all desktop systems, with or without download, aswell as both iOS and Android mobile operating systems. Regardless of the platform, the minimum deposit for MT4 remains 100 ($/€/£).
If MT4 is so good, why introduce MT5?
MT5 provides more of what you have come to know and love from MT4, but is more better? More indicators, access to more instruments, and order types, on a similar design to MT4. MT5 is supported on browser, PC, Mac, Linux, iOS, and Android, so however you trade you are likely to find an option available.
Whereas MT4 was the forex trading specialist, MT5 brings an easier viewpoint for indices, ETFs, stocks, commodities,and cryptocurrencies, alongside your favourite forex pairs. More choice on one platform can only be a good thing. That is provided the platform works aswell as its’ predecessor. AvaTrade MT5 does not let you down on that front.
You will find 38 indicators and 37 graphical objects, alongside 12 time-frames. These are all big upgrades on the AvaTrade MT4 offering. Direct trading from chats is a really nice tool to enable execution of those opportunities without a moments’ delay. All this is delivered by AvaTrade with the same minimum deposit of just 100 (£/€/$).
If you aren’t one of those with a pre-existing love of MT4, then we feel MT5 is a clear winner in the choce between the two.
|PLATFORM FEATURE||AvaTrade MT5||AvaTrade MT4|
|One Click Trading||Yes||Yes|
|In Chart Trading||Yes||No|
|Easy Multi Asset Trading||Yes||No|
AvaTrade Product Range Keeps On Growing
Over the past 15 years, AvaTrade have continued to review what they are offering to their traders and pushing to stay ahead of the curve. Now, whilst they have’t always been the first to adopt new technologies, or to provide new instruments, they always get there eventually, and with a product that delivers quality.
One such case is social trading. Whilst AvaTrade were certainly not the first broker to provide their own social trading platform, they have for many years provided support to third party integration. Now they have launched AvaSocial towards the end of 2020, we are in slightly different territory. So on review, how does AvaSocial hold up against the other industry behemoths in this space?
AvaSocial Review In Short
To start with, AvaSocial is brought to the market in conjunction with Pelican Trading, and can boast FCA regulation for peace of mind. This is not just a pure copytrading platform from AvaTrade here, but an actual social environment that can enable interaction amongst groups of like minded traders. It is all done in the custom, intuitive, and user friendly design style that we have come to expect from the AvaTrade suite of products.
If you want to copy others’ trading signals or trades, you can do so, but there may be charges brought to you by the owner of those signals or trades. If you want to interact with others freely, there is certainly the opportunity to do so, but it is in these paid aspects that you can expect the most value as a ‘hands off’ trader.
AvaSocial is easy to use, but should you use it?
AvaTrade, via AvaSocial have essentially brought a fun and gamified approach to the otherwise more serious world of trading. Many traders have for years used trading rooms and other online communities to chat about their trades or market thoughts, but usually in an environment that is not ‘live trading’. You can earn trophies for various different achievements here and follow the more seasoned veterans who are already in possession of the hardest to earn, but if you are used to self executing trades, this is not going to be the way forward.
Social trading has its’ place, and one of those is in providing a solid introduction and watching brief for novice traders who want to earn their stripes and see how others may build a portfolio, or strategy. It must be said that the more serious or professional level traders are unlikely to be venturing into social platforms unless there is an upside for them. Usually this upside is required to be profit, time is money after all.
So then, the very best of what AvaSocial has to offer may lie behind a paywall of a successful trader, one that requires you to invest in the knowledge that will come. If that is not exactly what you have in mind, then you can follow a selection of signals from an individual trader or group of traders that may also charge you for the pleasure. This can be worthwhile especially if you are not comfortable in making your own trades. The question however should be, if you are not comfortable in making your own trades yet, should you be trading for real at all, or should you be using a demo account until your confidence is in place?
What Of the Full Product Range Offered By AvaTrade : More Than 250 Different Instruments
AvaTrade Forex : you will find more than 50 forex pairs to trade, with spreads that are competitive in places, but a little on the high side in others as touched upon in our fees section. The range of forex pairs would be sufficient to satisfy most forex traders, other than the avid exotics lovers who would be better suited with a ‘pure’ forex broker.
AvaTrade Indices : offered up to 19 different indices to trade on as CFDs is a really strong rang, with all the major global indices featured. If you like trading indices, in amongst other products AvaTrade has you pretty well covered.
AvaTrade Cryptocurrencies : what is a hot topic in the markets over the past 12 months has been on the AvaTrade radar for many a year, with 11 cryptocurrencies available to trade as CFDs.
AvaTrade Commodities Range : 15 commodities to be trades as CFD at your leisure in amongst the wider offering. If you are looking for gold, oil, gas, corn, or coffee, you are in luck.
AvaTrade Stocks : there are in excess of 100 stocks that can be traded with leverage as a CFD via AvaTrade. You will find the big US listed equities, along with some other notable stocks from around the globe. Conditions offered here are fair.
AvaTrade Bonds & ETFs : 6+ ETFs and a decent number of European and government bonds can all be traded as CFDs. This is something that is lesser found amongst a lot of other retail brokers and gives good insight into the fact that AvaTrade are trying to provide a range of assets, if not the most comprehensive in any category.
AvaTrade Platform Rating – 5.0 out of 5.0 stars
AvaTrade Go Review – The mobile trading App award winner
4.8 out of 5.0 stars
AvaTrade have launched their new app in 2020 with great success, and widespread acclaim. AvaTrade Go is quite a step forward from their previous offering and is very intuitive, making trading easier and bringing more features to the table. You can find a video intro to this new app below.
In the year of launch, AvaTradeGo managed to be voted winner of best forex trading app in 2020 by Global Forex Awards. This shows the impact that has been felt from one year to the next as AvaTrade commit more investment dollars to providing a bespoke mobile platform. Trading on the move has never been easier with AvaTrade as you have a great set of tools and indicators available that are not supported by their MT4 access. As you would expect, both iOS and Android apps are provided.
You can trade upwards of 1000 instruments on mobile, with a wide range of stocks CFDs, options, forex, indices and cryptocurrency pairs. All the features that AvaTrade have launched more recently, including AvaProtect and Market Trends can also be found here on mobile. The 21st is really the Century of mobile support.
It is worth noting that MT4 support is also provided for mobile, but when a broker invests into their own proprietary app it should only be if they can take steps forward. This review finds AvaTradeGo to be that little bit easier to navigate than its’ predecessor, with some additional features that can now be used in your palm, aswell as at your desk.
AvaTrade can now claim to be a broker that puts as much emphasis on mobile trading as it does on desktop, and with the experience and weight held by this broker, the review can only be positive.
AvaTradeGo App Rating – 4.8 out of 5.0 stars
Payment Methods : AvaTrade Deposits & Withdrawals
4.5 out of 5.0 stars
Throughout this AvaTrade review, we have briefly mentioned the advantage that there are no fees charged on deposits or withdrawals. Every extra reduction in fees, looks that bit better in your trading account.
There are various deposit methods available to you with AvaTrade, and there are some further variations between the different regulatory offices. You will find support across all offices except for Canada for credit cards, debit cards and bank wire transfers. Digital payments including Neteller, Skrill, and WebMoney widen the range of payment types available but unfortunately at the time of this review, AvaTrade do not offer these to European or Australian residents.
How Long Until Funds Hit Your Trading Account?
If you are depositing into your AvaTrade account via credit or debit card, funds will appear on your account instantaneously. This can be up to 24 hours for e-wallet payments.
You will need to be more patient when it comes to bank wire transfers as unfortunately, these can take up to 10 days to clear into your account. It is possible to speed this up by providing proof of payment to the support team, but if urgency is the order of the day then you would be better served with credit or debit card.
What About AvaTrade Withdrawal Speed?
First things first, you have to ensure that your account is fully verified by providing your standard documentation. This applies to all brokers, but the speed at which they can complete this varies depending on their support service and staff.
AvaTrade manages to review this process through rather quicker than most others, with verification typically being completed within 24-48 hours. Other brokers can take up to 10 days to complete this process depending on where in the world you are based. This can be completed before depositing funds into your account, so shouldnt slow things down when you get to withdrawal time.
Once your account has been verified with AvaTrade, withdrawals are processed within 1-2 days.
Bear in mind that you can only withdraw funds back to the account from which you have made your AvaTrade deposit. This applies to all amounts up to 200% of your deposit. If you are fortunate enough to have returned more than 200% of your deposit, then you can choose to withdraw the excess over and above via a method of your choice.
The deposit and withdrawal range with AvaTrade is as wide as one could wish to find. The speed of deposit and withdrawal is as quick as you could want via credit or debit card, but rather slow if you are used to relying on bank wire transfer. A handful of positives here and a couple of improvement areas.
AvaTrade Payment Methods – 4.5 out of 5.0 stars
AvaTrade Demo Account
5.0 out of 5.0 stars
The AvaTrade demo account is a great way to enter trading in a risk free manner. There are the full range of demo account platforms that are available when trading for real money. That means WebTrader, MT4, AvaOptions and AvaTradeGo are there for you to find which is really best suited for your trading needs.
AvaTrade demo platform is not limited in time and even allows you to try out each of the various platforms simultaneously. If you are new to forex, CFDs, options, or cryptocurrencies, this could well be one of the best brokers, and platform ranges for you to learn.
As we have found throughout this AvaTrade review, their ease of getting accounts up and running is a great benefit. This is no different when practice trading, as the AvaTrade demo account takes a matter of seconds to get up and running.
Once you have tried and tested the AvaTrade demo account, if you wish to move onto the ‘full-fat’ version, you merely need to get your account verified fully and you are ready to begin.
Mobile Demo Account Choice Is a Nice Plus
As you can find in the AvaTrade mobile review, the new app is very user friendly, and can provide all the standard features you would get from the regular MT4 platform. These features and user friendly, intuitive design are all the same on demo account version and can give you a great way to learn the new app navigation without traing for real. If you prefer, there is still the option to trade with the MT4 app directly for demo also which can save you navigating through a new platform.
We are great advocates here at Leverage Forex of the ‘try before you buy’ mantra that demo trading can provide. Having a demo account with AvaTrade may well be a great way for you to learn the intricacies of what they can offer when trading for real.
It may be that what is offered if not to your personal liking. Quite equally, you could find yourself like the 200,000+ others trading with AvaTrade happy with the platform, be it demo or real.
AvaTrade Demo Account Rating – 5.0 out of 5.0 stars
AvaTrade Account Types Simple Review
4.0 out of 5.0 stars
The options of account types with AvaTrade are rather limited, and as such, so will this section of the review be. There are two real account tyoes offered by AvaTrade, namely the retail and the professional account. In practice, that doesn’t really provide you an option as such, as that is more the definition of your categorisation as a trader rather than a dedicated choice.
In essence, you are either a retail or a professional trader, and your account with AvaTrade will reflect that classification. The main difference between the two accounts will be the amount of leverage that you can trade with. This is limited to 1:30 for European based retail traders, and up to 1:400 for professional classified traders.
You will in fact find yourself a reasonable choice of account currencies that you can operate. You can choose between USD, EUR, GBP, and AUD (with GBP and AUD only available if you are UK or Australian resident respectively). Each of these accounts can be opened with a minimum deposit of 100 of your chosen currency.
Accounts are nice and easy to open with this broker
The steps required to open an account with AvaTrade are comprehensive to satisfy the regulators, but nice and easy to jump through the hoops. You will as usual need to supply proof of identification and proof of address, but whilst your account is going through the verification process, you can still go ahead and fund your account to begin trading whilst you wait.
A demo account with AvaTrade can be opened in just 4 simple steps; your name, email, telephone number, and password are all that is needed to get you up and running.
AvaTrade account types whilst limited in number are strong enough in the standard offering that they do need huge range. You can have a free demo account, along with 4 different currency accounts and the full range of AvaTrade instruments are open to you. It is by no means the best account range in the trading industry, as there are no choices in terms of fee structure and execution type. There is however the option to operate Islamic accounts, aswell as having account options in multiple jurisdictions aroun the world.
AvaTrade Account Type Rating – 4.0 out of 5.0 stars
AvaTrade Bonus & Offers
The AvaTrade bonus options will vary, depending on which on the regulated offices you fall under the scope of. If you are registering with AvaTrade South Africa office, for all those resident in Nigeria, Kenya, and the wider African continent, you can avail yourself of a 30% deposit bonus.
This 30% welcome bonus is withdrawn upon review by AvaTrade from time to time and is never available to any European based traders. If in doubt, best to check with the broker directly once you have a demo account in place, the customer support team will be able to inform you of any eligible offers you may be entitield to upon funding.
If you have friends and family you would like to refer to a broker, they will at times provide you a bonus for referring them via your code. AvaTrade are one such broker that provides a pretty healthy referral bonus of up to $250 (which operates on a sliding scale based on the referred users trading balance). The details of the scale offered can be found here below:
– $50 bonus : $500-$2’000 First Time Deposit + 10 trades minimum
– $100 bonus : $2’001-$5’000 First Time Deposit + 10 trades minimum
– $150 bonus : $5’001-$10’000 First Time Deposit + 10 trades minimum
– $200 bonus : $10’001-$20’000 First Time Deposit + 10 trades minimum
– $250 bonus : $20’001+ First Time Deposit + 10 trades minimum
Customer Support Focus
4.7 out of 5.0 stars
AvaTrade have, over the past 15 years shown a clear customer led approach in their support and services. Any broker wishing to be considered amongst the best in the business is going to have to ensure that clients’ needs are catered for in a timely manner, and on the channels that traders want to use.
As you would expect from an industry mainstay, the customer support options with AvaTrade are extensive. You will find a live chat function on their website, a host of local customer support telephone numbers (main ones to be found below, but the full list can be located here https://www.avatrade.com/about-avatrade/contact-us), aswell as email.
Australia : +61 2720 18721
South Africa : +27 10594 1353
Nigeria : +234 1227 8991
Germany : + 49 800 664 4879
UK : +44 203 966 1934
Ireland : +353 7667 05834
Malaysia : +60 3789 03866
Bahrain : +97316 199033
More languages than most indicates the global reach of AvaTrade
This is a broker that is delivering customer support in more than 14 languages. which is almost a necessity based on the number of countries in which you can find AvaTrade offices. Having this level of reach goes some way towards showing why this is a forex broker with numerous awards for their customer support over the years. There is 24 hour a day, 5 days a week support available, so wherever you find yourself in the world, a speedy response from AvaTrade should never be far away.
You will usually find a swifter response on live chat, or by contacting one of the local telephone numbers than you might find for email responses, but by and large AvaTrade shines pretty bright in this area.
AvaTrade Customer Support Rating – 4.7 out of 5.0 stars
AvaTrade Review Summary
4.5 out of 5.0 stars
Throughout our review of AvaTrade we have been reassured that the many traders, awards, and praise heaped upon this broker are largely very fair. There are a few areas with every broker that can be improved, and AvaTrade is certainly no different. Whilst the range of assets offered is truly commendable, the lack of ‘real’ stocks trading is an area that we would like to see added, to keep AvaTrade in line with the other big names in the online trading industry and to deliver what traders want.
Where AvaTrade really excel is being able to provide intuitive platforms, on whichever device you wish to use, and across instruments. They do all of this within a regulatory framework that provides the utmost in safety and security for their traders. This is one of the biggest positives you can look for in a forex broker these days.
We lose track of the number of scams that are being found every day in the online trading world, and the online world in general, that you must always protect yourself as much as possible in terms of who you are dealing with. With AvaTrade, that concern is rightly to put one side almost immediately. Having a trusted broker is half the battle won.
There are a strong selection of different educational resources you can use with AvaTrade to get accustomed to the market, whatever stage of your journey you are at. This is a broker that makes entering into trading pretty easy and straight forward, with a minimum deposit of just $100.
We feel comfortable in saying that AvaTrade is a really solid broker, particularly for the beginner trader, but if you are still evaluating a few different brokers before deciding where you end up, why not try out the demo trading account free to see how AvaTrade fit personally.