AvaTrade Review: An Introduction to AvaTrade
AvaTrade is a world-renowned trading and brokerage platform with many positive AvaTrade reviews. The company has been in operation since 2006 and is based in Dublin, Ireland, though they have offices all over the globe. With over 200,000 accounts, 2 million monthly transactions and a monthly trade volume exceeding $60 billion, AvaTrade is more than capable of providing a variety of financial services to global clients.
AvaTrade offers a wide variety of trading options on stocks, bonds, indexes, ETF’s, commodities and cryptocurrencies. AvaTrade also has a number of trading products with 7 asset classes, 5 trading platforms and 7 cryptocurrencies. The company also has an automated trading platform for beginners and offers negative balance protection so that client accounts do not go into the red. AvaTrade currently features a 40% signup bonus for new accounts, as well as a referral reward for friends and colleagues.
AvaTrade accounts can be opened with as little as $100, using either credit card or wire transfer. Electronic transfers though PayPal, Skrill, Webmoney and Neteller are also accepted. Withdrawals are processed via card and wire transfer. Professional trading accounts can also be created with more advanced features, as well as demo accounts.
AvaTrade Compliance and Regulation
AvaTrade is regulated by the Central Bank of Ireland (CBOI) as well as several other regulatory authorities: ASIC in Australa, the FSC in Britain and a number of Japanese regulatory agencies including the FSA and the FFA. It is also regulated to operate in South Africa via the FSB. One of the primary concerns for beginner traders is compliance on part of the online trader. AvaTrade’s strong track record is supported by being well regulated and compliant. AvaTrade also has strong client protection. By holding funds in designated accounts with regulated banks, customers are protected from insolvency with insurance up to 20,000 Euro.
AvaTrade’s fees are not unreasonable. While high volume traders receive no discount, AvaTrade does not charge fees for withdrawals and there are no commissions on trades. Taking this into account, the fees are comparable to other brokers. Though spreads may vary depending on volatility levels, AvaTrade currently charges:
- Euro to US Dollar – 1.5 pips.
- Pound Sterling to US Dollar – 2 pips.
- US Dollar to Japanese Yen – 1.6 pips.
- S&P 500 – $0.25 over market spread.
- Japan 225 – 15 Japanese Yen over market spread
- US stocks – $.06 over market spread.
AvaTrade Review Overview
AvaTrade’s strength lies not only in its stability and reliability as a secure provider, but in the variety of its trading platforms and services. Along with its own trading platform, it provides customers with ZuluTrade, RoboX, DupliTrade and MirrorTrader. For those looking for an alternative or customized trading experience, AvaTrade provides plenty of options. AvaTrade also provides a number of advanced analytical and research tools compared to other trading sites. They even provide libraries for traders with strong coding capabilities – traders can program custom trading solutions and link them to AvaTrade. These are generally platforms for specialized traders as opposed to beginners. However, it does provide a large number of educational resources for first time investors.
AvaTrade is the recipient of several awards based on many reviews, including “Best Customer Support”, “Best Alert System” and “Best Financial Derivative Training Provider”. In total, AvaTrade has earned more than 9 awards since 2009. There is no question as to its legitimacy as a stable and reputable online brokerage provider.
AvaTrade offers several support options, including phone, email, social media and live chat. Support is available 24-hours a day, five days a week and in a number of different languages. However, the chat response times are reported to be occasionally slow and AvaTrade does not provide in-person support. Withdrawal times from AvaTrade can take up to 10 days; however, with an Ava Mastercard, this time can be drastically reduced. Leverage varies depending on the particular asset, with a maximum of 1:200.
AvaTrade Review – Summary
This AvaTrade review ultimately ends on a positive note. AvaTrade is a well-regarded online trading platform, offering an impressive array of trading platforms, financial products and advanced analytical tools. AvaTrade has been around a long time and has a huge client base – funds deposited with AvaTrade are safe. Aside from the slightly higher-than-average fees and lack of high-volume discounts, there is little reason to veer clear from this established brand. An excellent platform for both experts and beginners alike.
To stay up to date with AvaTrade, follow them on Twitter @AvaTrade_Review