Don’t sign up before you read this AvaTrade review!
- Attractive welcome bonuses also for E.U. traders!
- Very Low trading costs (spreads & commissions)
- Extensive training courses
- Free and unlimited demo account
- Doesn’t offer VPS (therefore it is not suitable to use for Expert Advisor sw)
- Don’t accept traders from USA
Established in 2006 and with more than 200,000 customers in 160 countries, the Dublin based broker AvaTrade is one of the market leaders in Europe. Each month it manages to execute more than 2 million trades with a volume of around 50 billion Euros. The company founders are all former exchange traders, who brought in a corresponding know-how.
The funds are being kept separate (in segregated bank accounts) from the company assets, in addition, there is a deposit insurance under MiFID up to 50,000 €. Regulations takes place via both the Australian ASIC and the Irish CBI. In terms of seriousness, reference should be made here to the numerous awards that the broker has received in the past from the trade press and industry insiders.
Is Avatrade regulated ?
AvaTrade is at home in Ireland therefore their main regulatory body is Central Bank of Ireland which allows them to do business within EU area.
Recently they got regulated also for South African market by the local FSB (Finance Services Board) license number 45984
Australian market is covered by the ASiC license #406684.
Before you start trading with AvaTrade
Firstly, traders must ensure that AvaTrades fee and broker model is consistent with their personal trading strategy. AvaTrade is a market maker broker . While some traders rely with their strategies on commissions based model (mostly used by true ECN brokers), we must say that for majority of traders and their trading strategies the market maker broker model is absolutely sufficient (je to v pohode takto anglicky?) mainly thanks to tight spreads and low entry bareers.
With AvaTrade you get one of the tightest spreads on the market together with very fast trade execution!
The minimum deposit is of great importance, which is € 100 and therefore even beginners with small capital are able to pave the way to the trading world easily. As a result, clients can trade at fixed & variable spreads, which can be e.g. 1 or 1.8 pips for EUR / USD.
Customers also get a free demo account from AvaTrade, which can be used to gain initial insight into stock market trading without risk, or to examine new trading strategies and trading platforms. What amount is available on demo account and is it for time unlimited period or will block itself after certain time is passed ?
Assets available for trading with AvaTrade
Including ETFs and bonds, nearly 200 assets are traded with AvaTrade. In this context, the AvaTrade experience is above average as well. There are three platforms available for trading. The MirrorTrader was added to the in-house AvaTrader and the well-known platform MetaTrader 4. This platform makes it possible to copy trades of other investorsand is thus particularly suitable for beginners who would like to gain further experience. Of course, the AvaTrader and MT 4 are also available as mobile platforms to allow trading on the move.
How to trade Bitcoin with AvaTrade
This broker was among the first few companies that allowed trading Bitcoin. Currently besides Bitcoin one can trade also several other crypto currencies like Litecoin, Ripple, Bitcoin Cash, Ethereum etc. Remember you trade cryptocurrencies as CFD not physical like with Etoro.
In the search for the right online broker, particular attention should be given to the available trading platforms, as they can in some cases decide on profit and loss. Our AvaTrade experience has shown that the Irish company does everything right by offering a wide range of different trading platforms. It goes without saying that the popular MetaTrader, which is characterized by Expert Advisors, a professional interface and numerous indicators, but also the in-house AvaTrader knows how to convince with various advantages.Both professionals and beginners can benefit from AvaTrade. In addition, an optional trading platform – AvaOptions, is part of the company’s offering, as well as its own trading platform for Mac operating systems. If required, investors can also trade via portals such as Currensee, ZuluTrade or MirrorTrader or pursue browser-based trading via the AvaTrade WebTrader. AMetaTrader 4 with variable spreads is available here, as well as various mobile trading apps for Android, iOS and Windows.
New customers receive on their first deposit of 100 euros a 50 euros bonus. For 300 euros deposit, it is a broker bonus in the amount of 100 euros. The upper limit is 5,000 euros bonus with a 100,000 euro deposit. Referrals are rewarded in the range of 50 to 150 Euros, depending on their type of account.
How to open trading account with Avatrade
Particularly for an inexperienced trader, it can sometimes be very difficult to open a trading account with an online broker such as AvaTrade without losing valuable time through mistakes or missing documents. That’s why we’ve put together a quick, step-by-step guide to opening an account with AvaTrade that’s not just for newbies.
In order to open an AvaTrade trading account, you as a trader must firstly provide some personal information, such as: your name, e-mail address, telephone number. This should be relatively fast and easy part.
Information about your past trading experience: This is required by law. At this point, the whole thing may be a bit more precise: Each customer provides information on his previous trading experience. Based on this statement company determines whether the customer is suitable for trading with real capital or should they rather train in a demo account. In addition, further details about the place of residence and account details must be added here.
If the opening form is completed and sent out, trading begins. However, before the customer can withdraw his earned capital, he has to verify himself. This is done by sending the copy of ID and possibly the credit card for future deposits and withdrawals.
What about AvaTrade service and support?
As mentioned in the review, the company is based in Dublin. Support can be contacted via email, live chat or a callback form. The support is competent and provides real assistance in all matters relating to the trade and the various platforms that appear in the review.
How to deposit funds successfully:
Three valuable tips
In order to deposit funds to the AvaTrade trading account successfully, inexperienced novices in Forex and CFD trading may need valuable tips that can facilitate and accelerate the deposit process. It may be important to know that AvaTrade customers have several ways to make a deposit: one is the bank wire transfer and the other that is faster is a credit card deposit. Besides that, you can use alternative funding method: Paypal, Payoneer and Neteller!
Choose the right deposit method! It is important to choose the best method of deposit wisely. Bank transfer usually takes longer, but is usually free of charge. On the contrary, a credit card transaction is usually fast, but often involves fees.
Choose the right credit card. Are you planning to buy a credit card or change your credit card provider in the near future? Then allow yourself a little more time with your deposit into your trading account at AvaTrade: The money laundering laws stipulate that withdrawals can only be made on the same credit card used for the deposit. It makes no sense to use a third-party credit card for a deposit or a credit card that needs to be replaced soon, as this is only an unnecessary expense.
Pay attention to the fees! Not only the fees charged by AvaTrade, but also the costs charged by banks or credit card companies. Please inform yourself in advance about any transaction fees that may be charged by your bank or credit card company.
Avatrade review conclusion: What’s the trading experience like?
When we compare trade execution with other competitors, Avatrade was really really fast during our test. But we think the biggest advantage of this broker are low spreads which are among the lowest in the industry! Whether you compare their spreads on majors like EURUSD or you compare their swap rates that you will pay for keeping your trades run overnight, you will definitely pay less than with other brokers!
It is not a surprise that during its almost ten years of existence, the Irish company has already received many awards, both from industry experts and from customers themselves. AvaTrade received the first awards in 2009, and so far the awards for the Irish company remained the value. In 2014, AvaTrade was awarded as The Best Bitcoin Trading Provider of the Year. In 2013, the Irish company received numerous accolades from the well-known online platform investing.com as well. Should AvaTrade be able to maintain its level in the future and further expand its offer, this should not have been the last awards for the Irish broker.