AvaTrade Forex Broker AvaFx information, review, opinions

Users can choose between a practice account or a real account. Mobile users who are not yet ready to trade live can access a practice account with AvaTradeGo. To pass the AvaTrade identity verification, you will need to upload both an ID and proof of residence.

  1. Traders can contact the AvaTrade customer service support team by phone, email, and live chat.
  2. But a buggy search function detracts from the learning experience, failing to include many articles and topics.
  3. AvaTrade is registered with multiple jurisdictions around the world, but it doesn’t accept U.S. traders.
  4. Withdrawal processing can take up to 10 business days, according to the company.
  5. A broad variety of general articles covers all sorts of market topics, as well as tutorials on trading platforms.
  6. These form the core of research materials, with the script then transcribed as a Daily Market Review.

Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of online brokers. We established a rating scale based on our criteria, collecting over 3,000 data points that we weighed into our star scoring system. New traders can open accounts for as little as 100 units of the base currency and the broker offers dedicated educational and research resources that should get them up to speed quickly. AvaTrade states that accounts across all jurisdictions do have negative balance protection and it also offers AvaProtect, which allows clients to take out insurance on a trade.

Commissions and Fees

AvaTrade is regulated by several well-respected international regulatory bodies. All of the below bodies provide protection over clients’ funds by ensuring they are kept in separate bank accounts. AvaTrade is an online brokerage firm offering its global customers access to forex and Contracts-for-Difference (CFD) trading in shares, bonds, indices, ETFs, commodities, and cryptocurrencies.

History of AvaTrade

The AvaOptions mobile app includes an integrated strategy guide and 40+ currency pairs. This process is completed once traders’ accounts are verified. The broker offers both fixed and variable spreads depending on the specific market being traded. Today the firm serves over 300,000 clients who place over 2 million trades every month. AvaTrade reports trading volumes of over $70 billion per month. The website and marketing material aim for transparency, but they could be confusing for prospective clients who are looking for information about account types, spread schedules, and fee listings.

Demo account traders are not required to complete the verification process. In order to withdraw funds, traders need to fill out a withdrawal form through MyAva. Traders must verify their account to be eligible for withdrawals.

If deposits do not arrive in traders’ accounts, they can also contact the support team. Client trades “crossing” the bid/ask spread is the principal means by which AvaTrade generates revenues. Retail traders are charged higher spreads than professional traders, but the requirements are such that few clients will be able to obtain that latter designation. AvaTrade is for the novice investor who seeks to gain a basic avatrade review understanding of forex and CFD trading. With a product suite that offers variety, reasonable spreads, and a choice of user interfaces, it’s ideal for new and undercapitalized traders who want to build on limited skill sets. Large-scale and professional traders are likely to find better value elsewhere due to the lack of volume discounts, high-end trading platforms, and comprehensive news and research resources.

Given that the page is split into asset browsing and charting, it has a simple and uncluttered design. The top-bar shows overall account balance statistics, like the available and total balances, along with the trader’s profit/loss and equity data. As per the web trader registration, traders are asked to fill in a set of personal and experience-related details.

See AvaTrade’s international phone lines:

The minimum advertised spreads for FX majors are in line with the industry average with EUR/USD at 0.9, USD/JPY and AUD/USD at 1.1, GBP/USD and USD/CHF at 1.6, NZD/USD at 1.8, and USD/CAD at 2.0. As is the norm in the FX industry, clients will be charged swap fees on positions they hold overnight. AvaTrade offers two live trading accounts (retail and professional) and a demo account.

The company says it set this amount because new traders are often under capitalized. AvaTrade claims that the withdrawal process takes 1-2 working days (Mon to Fri). The arrival time of funds depends on the payment method used for your withdrawal. The fastest withdrawals are usually processed via credit and debit cards, or via e-wallets like Neteller and Skrill. Wire transfers may take the longest up to 10 days after processing.

How do I withdraw money from AvaTrade?

Marko has been working on the road for over 5 years, and is currently based in Europe. Alongside writing and editing, Marko works on projects related to online technology and digital marketing. By key features, we mean those features with which a trader typically use while executing a trade.

Cryptocurrencies Spreads

Connecting with chat can be cumbersome, with requests at different times of the day answered by a live representative after a lengthy wait. In addition, every broker we surveyed was required to fill out a 320-point survey about all aspects of their platform that we used in our testing. Many of the online brokers we evaluated provided us with in-person demonstrations of their platforms at our offices. Investors who seek a wide variety of forex, CFD, and cryptocurrency offerings may find what they’re looking for with Avatrade. Withdrawal processing can take up to 10 business days, according to the company. AvaTrade is registered with multiple jurisdictions around the world, but it doesn’t accept U.S. traders.

Well-organized tutorials are segmented into beginner, intermediate, and advanced topics, offering logical paths to skill building. A broad variety of general articles covers all sorts of market topics, as well as tutorials on trading platforms. They should satisfy the needs of those that require these features. AvaTrade partnered with Trading Central in 2020, an independent provider that offers trading signals and analyst recommendations. And the “Forex Calculator” link informs the trader about the potential profits, losses and costs to trading, like overnight interest calculations. AvaTrade offers no volume discounts or guaranteed stop losses.

A large Australian operation is regulated through the Australian Securities and Investment Commission (ASIC). The broker also advertises negative balance protection and AvaProtect, but it provides no additional guarantees for the safety of client funds. Trading courses and other educational materials are offered through Sharp Trader.

AvaTrade provides its traders with access to more than 50 forex pairs, including all the major currency pairs, minors and exotics. The fact that AvaTrade isn’t regulated by the FCA is a source of concern, but the company toes the line when it comes to protecting its clients, including offering negative balance protection. TrustPilot awards it 4.7 out of 5 stars based on more than 7,600 reviews. The broker also offers 24/5 chat/phone support, as well as social media portals and an online form entry.

It charges a $50 fee after three months of account inactivity and a $100 administration fee after one year of inactivity. No withdrawal or closure fees are listed in the marketing materials, but the legal documents noted fees for bank transfers and credit card transactions. Headquartered in Dublin, Ireland, AvaTrade has satellite offices throughout Europe and the Asia-Pacific region. But like many forex brokers, AvaTrade does not accept U.S. traders. All support avenues are available 24-hours-a-day, 5 days-a-week. Traders can upgrade to a real trading account directly from the mobile app, either from the homepage dashboard, or the account settings section.

The website and platform are available in 24 different languages, including Dutch, English, Finnish, French, Italian, German, Korean, Spanish, Portuguese, Arabic, Russian, Chinese, Swedish, and Turkish.