|Platforms||MetaTrader 4, AvaTradeGO, AvaTradeAct, Floating Spreads, MT4 – Spread Betting, AvaOptions, Automated Trading, Web Trading, Mac Trading, Mobile Trading|
|Minimum account size||$250|
|Minimum lot size||0.01|
|Spread on EUR/USD||1.50 pips (floating spreads) / 1.90 pips (fixed spreads)|
|Payment methods||Credit/Debit Cards, Wire Transfer, E-Payment Methods|
|Accepts US traders||No|
|Regulated||CBI (EU), ASIC (Australia), FSC (BVI), FSA (Japan), FSB (South Africa)|
|Support||Email, Phone, Live Chat|
AvaTrade was founded in 2006 and is known to be one of the leading online forex brokers today with over 1.5 million trades executed per month.
They offer a proprietary trading platform that is built around the user with an aim to provide the ultimate on-line trading experience.
AvaTrade features a selection of trading platforms which includes the popular MetaTrader 4 and their very own downloadable platform called AvaTrader that features advanced charting and multiple live news feeds.
The MT4 doesn’t need much explanation as it is known to be a standard in this industry and is very flexible for novice traders.
They also offer WebTrader, Mobile and an automated trading system including MirrorTrader and ZuluTrade which is capable of emulating the trades of skilled traders even if it is unattended.
Design of the site
The advanced interface design looks a bit intimidating especially for one who is not yet used to the platform but after a while, you will realize that it’s well-organized and very user-friendly.
It’s easy to view the open positions, the prices, the charts and everything that you need is on the entire screen as they have organized all the necessary items very well.
What we also liked about the overall design is that it has a fast loading time even if there were a few cosmetic additions .
AvaTrade requires a minimum deposit of $250 which is at par with the requirements of most brokers in the market today.
This is good news for newbie traders because they won’t be required to transfer a huge capital.
Minimum Lot Size
Another advantage is that it also lowers the risks for the trader
With AvaTrade there are more than 250 instruments but aside from that, their biggest advantage over their competitors is that they are one of the very few brokers that offer trading on emerging cryptocurrencies like Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, IOTA, DASH, NEO, Monero, Zcash and Qtum.
People trade forex and other instruments for the purpose of making considerable earnings and for this reason, the pip value is important as it will calculate how much profit can be made or lost on a trade.
This broker doesn’t charge any commission and offer fixed and floating spreads conditional to the platform that is being used and what’s notable about AvaTrade is that they have recently reduced the fixed, floating and options spreads.
These are much more competitive than the typical spreads of other brokers.
AvaTrade has reduced the fixed, floating and options spreads by an average of 35% across the majors and as much as 50% on some FX pairs.
The common setback of most brokers today is the deferral in processing withdrawal requests where in most cases, the funds experience a lot of delays before they reflect on the customer’s chosen banking account.
At AvaTrade, it only takes a total of 5 business days to process withdrawals.
1 to 2 business days of it is for verifying the submitted withdrawal form before they start processing the transfer of funds.
Such speed is well above the industry standards, which usually takes longer and this advantage has earned this broker a Withdrawal Time score of 9.
Adding funds to the AvaTrade account is possible by the use of various gateways such as:
- Credit and debit card brands like MasterCard and Visa
- Wire transfer
- Several E-payment methods like PayPal (except for EU customers)
It’s also good to know that they implement a 256-bit SSL encryption across their website which means you don’t need to worry about credit card fraud and identity theft.
Such coverage and security warrants this broker with a Deposit and Withdrawal Methods score of 10.
As for AvaTrade, they can be contacted through phone, call back, email and live chat.
Their response time is quite faster in comparison to other forex brokers in the market today.
It’s also good to know that they assign personal account managers to their clients so every issue and query will be handled with sensible consideration since they know the trader and they can keep track of their transactions for reference.
All of the responses were straight to the point and we were very impressed on how well the conversation was handled with professionalism.
A requote is one of the biggest headaches of forex traders as the broker is a not able to provide a trade that is based on the price that they specifically entered.
AvaTrade does not experience any requotes and slippages which is an advantage for those who are trading fast-moving markets and because of this, we are giving this broker a Quote Accuracy Score of 9.5.
- Stable platform
- Diverse range of assets
- Segregated client accounts from Europe, Australia and Japan
- US traders not accepted
- Demo account valid for 21 days only