AvaTrade Review 2024

ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

  1. The different fields relating to stop-loss, and take-profit orders, could be selected and adjusted easily.
  2. AvaTrade has a multilingual customer support service that is available 24/5.
  3. For deposits over $10,000, a bonus of $400 is paid, while deposits as little as $250 can earn a client a bonus of $75.
  4. Permitting user interaction with other traders via community channels and asking questions on specific strategies, AvaSocial is an excellent feature of this trading platform.

Although the broker doesn’t charge any account opening, downloading, setup, deposit, and withdrawal fees – AvaTrade clients will be charged inactivity and administration fees. As stated on its website, AvaTrade like most other brokers does not charge its clients commission on their orders. You will also find its spreads to be very competitive, like other similar online brokerages. You can trade the popular ones like the EUR/USD and GBP/USD pairs or go for less popular forex pairs like the USD/RUB. You can also access AvaTrade’s training videos through the mobile app, which can be very useful if you’re on your feet. AvaTrade’s mobile software is well-designed but very limited, with the exception of AvaTradeGO, which is the company’s dominant mobile app.

AvaTrade Accounts

You will find this feature exclusively on its mobile trading platform, AvaTradeGO App, and its web-trading platform. However, AvaTrade doesn’t let you integrate with TradingView or cTrader, which is a slight disappointment for us. TradingView offers the best user interface and impressive charts or analytical tools. You also can’t use AvaTradeGO or MT5 for spread betting, which limits the range of markets (like shares) and features you can use (like AvaProtect). For this reason with think spread betting with AvaTrade compared unfavourably with brokers like Pepperstone and IG who allow you to trade using a wider range of trading platforms. The WebTrader is an innovative online trading platform that is designed especially for traders looking for a simple and uncluttered interface.

AvaTrade Review

However, potential clients may contact customer support to extend the trial or open a new demo account. I would like to see AvaTrade provide an unlimited demo account for beginner traders and those testing strategies and algorithmic trading solutions. The minimum deposit at AvaTrade is generally 100 units of currency, depending on the denomination of your account balance. For example, a USD account will have a $100 minimum deposit whether you fund via wire or credit card. AvaTrade stands out for its rich selection of trading platform options, and for its educational content for beginners – categories where it finished Best in Class.

Trading View

You can click on the information icon next to each asset to pull out the order window and instrument details. Casual investors should bear in mind that a $50 inactivity fee applies after three months of zero activity, with an additional $100 charge avatrade broker review after 12 months. While not a major drawback, this is higher than the $10 monthly charge at Plus500 and $15 charge at FxPro. Leverage at AvaTrade varies depending on the instrument, location and your status as a retail or professional investor.

AvaTrade also stands out for its selection of extra tools to enhance the trading experience. The choice of copy trading solutions is particularly strong and makes the broker a good pick for aspiring traders and hands-off investors. AvaTrade also offers an intuitive mobile app, AvaTradeGO, which is free to download on Android and Apple devices.

AM GLAD ABOUT THE SUCCESS STORY I GAINNED FROM FINANCE CHARGE BACKA bunch of scammers. The Financial Industry Regulatory Authority (FINRA) is dedicated to creating a safe environment for investors. You can use its BrokerCheck service to learn more about your broker before you commit. The application form can be completed on the website by providing basic information such as first name, last name, email and phone number.

Forex Brokers

Please appreciate that there may be other options available to you than the products, providers or services covered by our service. AvaTrade is a globally licensed and regulated online trading broker that offers its services in Canada through Friedberg Direct. This is a reputable Toronto-based firm that ensures all AvaTrade accounts comply with Canadian regulations. The starting deposit is low, there is a free demo account, comprehensive educational materials, and copy trading solutions. I also found the web platform easy to learn with a user-friendly interface.

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It is a user-friendly risk management tool that lets investors protect trade against losses up to $q million over a decided period. For accessing this feature, you only need to pay a small hedging fee. AvaTrade account holders will have access to 30+ indices on the trading platform.

Trading on a limited number of crypto/fiat pairs, such as BTC/GBP, is also possible on AvaTrade’s platform. Further, AvaTrade’s group entities are regulated by tier-1 financial authority which is the ASIC of Australia. When you deposit for the first time with a card, it can take up to 24 hours to be credited due to security checks. Since Islamic Accounts are swap-free, they do not pay any swap fees for a 5-day grace period.

I never recommend choosing a broker based solely on their trading promotions. There are more important factors to consider, including safety, trading conditions and investing tools. Alev Nazli was really helpful and responsive to help me open my account. It took over a month to get my account verified because I am new in Canada and had to wait for my first bank statement and utility bill with my address.

Professional Account

Additionally, whilst there is a dedicated section for trading education, I think the whole site in general is very informative for online traders. One of the stand-out features for me is the Guardian Angel risk management feature, which can be installed on the MT4 platform. One drawback for me is the interface, which feels somewhat dated and bland in comparison. I think the broker could modernize the design of the app and improve the navigation between features.

While it might not be the best option in the market, it’s certainly not a bad one either. When trading options, a premium is paid for the right to the options. This is determined by the existing price of the instrument and the length of time in the future the option will expire. The difference is who the account is available for and the level of leverage.


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