New Customer Experience - What is it like to sign up?
AvaTrade offers a number of different accounts and platforms to suit traders of all experience levels. If you want to sign up for a trading account, you can choose between Web Trading, MetaTrader 4 and MetaTrader 5, which are covered in detail in the trading platforms section of this AvaTrade review.
AvaOptions aims to make options trading quick, simple and painless. You can choose from 13 different option strategies, covering more than 40 currency pairs. It allows you to trade spot, calls and puts, with stop and limit orders. The interface is fully customisable, you can benefit from interactive risk management tools, and there is an integrated strategy guide.
Avatrade Highlights
- User-friendly platforms for beginners
- Low spreads and reliable execution
- Excellent analytical tools and educational materials
An autotrading account allows you to copy a particular trader’s strategy. AvaTrade offers DupliTrade, which allows British traders to automatically follow experienced traders’ signals and strategies in real time. You can also choose ZuluTrade, which converts the recommendations of experienced traders and automatically executes the trade in your AvaTrade account, and there is a signals service called MQL5. AvaTrade Social also allows you to follow, and copy the trades of the very best traders. You can use it to ask questions of mentors or consult group chats.
AvaTrade GO is available to download from the app store on any iOS or Android device. At the time of this review of AvaTrade, it had an average rating of 4.4 out of 5 on the Apple Store, and 4.2 out of 5 on Google Play. It won Best Trading App 2020 at the Global Forex Awards.
Just bear in mind that you will be charged an inactivity fee of £50 after three consecutive months of non-use. You will incur an administration fee of £100 after 12 months of non-use.
Fees – Is AvaTrade safe for trading?
AvaTrade does not charge commissions, and it offers free deposits and withdrawals. The site makes its money from spreads, so its fees are essentially built into them. The average cost of the EUR/USD forex pair is 0.9 pips. That goes up to 1.6 pips for GBP/USD and USD/CHF, and it is 1.1 pips for USD/JPY and AUD/USD.
That makes AvaTrade more expensive than rivals like City Index and XTB when it comes to trading forex. However, AvaTrade offers low CFD (contract for difference) spreads on stocks, indices and funds, so it is an excellent option if you want to trade those instruments.
Overall, AvaTrade is not the cheapest site on the market, but its fees are often better than average, and it offers an extremely strong trading platform, plus excellent customer service, so it is easy to see why it is a popular site among beginners and experienced traders alike.
Usability - How well does the brokerage perform?
AvaTrade is a slick, polished site that works well on desktops and mobile devices. The design is intuitive, it is packed full of helpful features and the search function works well, so navigation is always simple and effective.
Clients can choose from several different platforms, which are discussed in detail further down this review of AvaTrade, but the usability is strong across the board. There is a more basic platform for beginners, while advanced traders can opt for the more sophisticated MetaTrader 5. The user experience varies according to the platform you choose, but they are all impressive.
We tested out the site on a range of devices at several different times of the day while conducting this AvaTrade trading review. We found that pages always loaded quickly and there were never any lag times, even when trading volumes were high in the wake of major market news. Overall, we could not really fault the usability of the AvaTrade desktop site and the AvaTrade Go app.
| Company |
AVA Trade Ltd |
| Headquarter |
AvaTrade Financial Centre, Five Lamps Place, Amiens Street, Dublin 1 Ireland |
| Year of Founding |
2006 |
| CEO |
Dáire Ferguson |
| Website |
www.avatrade.com |
| Available Languages |
English, German, French, Italian, Spanish, Russian, Polish, Dutch, Swedish, Danish, Portuguese, Norwegian, Romanian, Finnish |
| Customer Support |
Live Chat, Phone, Email Support |
| Email |
cs@avatrade.com |
| Phone |
+1 212-941-9609 |
| Licence |
CBI – Central Bank of Ireland |
 |
| Verified by |
– |
| Payment Methods |
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Accounts - What accounts are available at AvaTrade?
AvaTrade offers a number of different accounts and platforms to suit traders of all experience levels. If you want to sign up for a trading account, you can choose between Web Trading, MetaTrader 4 and MetaTrader 5, which are covered in detail in the trading platforms section of this AvaTrade review.
AvaOptions aims to make options trading quick, simple and painless. You can choose from 13 different option strategies, covering more than 40 currency pairs. It allows you to trade spot, calls and puts, with stop and limit orders. The interface is fully customisable, you can benefit from interactive risk management tools, and there is an integrated strategy guide.
Avatrade Highlights
- User-friendly platforms for beginners
- Low spreads and reliable execution
- Excellent analytical tools and educational materials
An autotrading account allows you to copy a particular trader’s strategy. AvaTrade offers DupliTrade, which allows British traders to automatically follow experienced traders’ signals and strategies in real time. You can also choose ZuluTrade, which converts the recommendations of experienced traders and automatically executes the trade in your AvaTrade account, and there is a signals service called MQL5. AvaTrade Social also allows you to follow, and copy the trades of the very best traders. You can use it to ask questions of mentors or consult group chats.
AvaTrade GO is available to download from the app store on any iOS or Android device. At the time of this review of AvaTrade, it had an average rating of 4.4 out of 5 on the Apple Store, and 4.2 out of 5 on Google Play. It won Best Trading App 2020 at the Global Forex Awards.
Just bear in mind that you will be charged an inactivity fee of £50 after three consecutive months of non-use. You will incur an administration fee of £100 after 12 months of non-use.
Fees – Is AvaTrade safe for trading?
AvaTrade does not charge commissions, and it offers free deposits and withdrawals. The site makes its money from spreads, so its fees are essentially built into them. The average cost of the EUR/USD forex pair is 0.9 pips. That goes up to 1.6 pips for GBP/USD and USD/CHF, and it is 1.1 pips for USD/JPY and AUD/USD.
That makes AvaTrade more expensive than rivals like City Index and XTB when it comes to trading forex. However, AvaTrade offers low CFD (contract for difference) spreads on stocks, indices and funds, so it is an excellent option if you want to trade those instruments.
Overall, AvaTrade is not the cheapest site on the market, but its fees are often better than average, and it offers an extremely strong trading platform, plus excellent customer service, so it is easy to see why it is a popular site among beginners and experienced traders alike.
Beginners should enjoy AvaTrade’s user-friendly WebTrader platform. The design is clear and effective, and it allows you to execute trades with minimal fuss. This is the platform used in the AvaTrade demo mode, which is a very useful tool.
You can use AvaTrade WebTrader to buy or sell forex pairs, CFDs on stocks, indices, ETFs, cryptocurrencies, commodities and bonds. You can also check out categories like Most Rising, Most Falling, Most Buying, Most Selling and Hot. The platform features clear, concise charts, and you can access more detailed analytics if you so desire.
The trading ticket is easy to use. You can then track your open positions in one place, and it is simple to close a position. You do not need to install anything. Simply log in and start trading.
More advanced traders can opt for MetaTrader 4 or MetaTrader 5. AvaTrade’s MetaTrader 4 platform was introduced all the way back in 2002, but it has evolved since then. It is a neat, powerful platform with many professional-grade features, and it also allows automated trading and a feedback tool called “guardian angel”. The analytical tools are strong, and you can develop your own custom indicators.
MetaTrader 5 is an evolution of MetaTrader 4. Whereas MetaTrader 4 was specifically designed for forex trading, MetaTrader 5 was designed for CFDs, futures, and stocks too. It contains advanced order management, and offers access to more timeframes, while the programming language is more powerful.
Before asking is AvaTrade good, you will want to know, is AvaTrade safe? Is AvaTrade legit? AvaTrade is a regulated trading site with a strong security record. All data transfers are compressed and encrypted based on 128-bit keys, so you should not have to worry about the safety of your personal details and your funds, regardless of which platform you choose.
You can check out our review of Oanda, review of FXPro, review of Core Spreads or a review of Saxo Bank if you want to see what rival sites have to offer, but AvaTrade really stands out for offering a comprehensive range of platforms and account types. For another option, read our review of Forex.com – see how AvaTrade compares.
Trading Payments - Review of AvaTrade payment options
AvaTrade allows clients to make deposits using a debit card, credit card, a wire transfer or an e-wallet such as Skrill or Neteller. The minimum deposit is £100, which should be suitable for most traders. Some rival sites have a significantly higher minimum deposit requirement.
All deposits and withdrawals are free at AvaTrade. It takes the site 24 to 48 hours to process a withdrawal request, regardless of the payment method you choose. That is reasonably good by industry standards. You must have completed the KYC process in order to make a withdrawal.
You can withdraw directly to your bank account or to an e-wallet. Withdrawals can only be sent via the payment method that you used to fund your account. This is designed to comply with international anti-money laundering laws. The overall withdrawal time varies depending on the method you choose. For example, wire transfers can take several business days to arrive.
There are no official minimum and maximum withdrawal limits, but you can contact customer service if you plan to make a large withdrawal from your account. Avatrade is as safe and secure as asking questions such as ‘Is XTB safe?’ and other trusted brokers.
Customer Service - Our AvaTrade Review review of customer service
We tested out the customer service department for this review of AvaTrade, and we found the representatives to be polite, helpful and friendly. Customer support is available 24 hours per day, Monday to Friday. You can email for non-urgent queries, but live chat is better if you want a quick response.
Waiting times were short and the staff answered our questions clearly. We asked basic questions like, is AvaTrade safe? Is AvaTrade legit? The representatives were able to provide us with clear information about the safety measures the site takes and its licensing conditions, and they could also answer more complex, technical trading questions.
Regulation and Deposit Insurance - Is AvaTrade safe?
AvaTrade EU is regulated by the Central Bank of Ireland. It is also licensed and regulated by the Australian Securities & Investments Commission, the Polish Financial Supervision Authority, the British Virgin Islands Financial Services Commission, the Financial Futures Association of Japan, the South African Financial Sector Conduct Authority and the Abu Dhabi Global Markets Financial Regulatory Services Authority, so it has to uphold very strict licensing conditions.
European customers have deposit insurance of up to €20,000 under Irish regulations. In January 2020, AvaTrade introduced AvaProtect, a service that protects traders from sudden negative movements during a defined trade period.
