AvaTrade – a forex broker with a presence in many countries around the world, offers investors a wide range of popular trading products on modern platforms. But is this really a reputable forex platform worth your consideration? Let’s follow this article to verify and find the answer.
Overview of AvaTrade
AvaTrade is an online broker established in 2006. Over nearly two decades of operation, AvaTrade is regulated in six legal jurisdictions (Europe, Australia, Japan, the British Virgin Islands, the United Arab Emirates, and South Africa) and serves over 300,000 global clients in more than 150 countries
Since 2009, AvaTrade has consistently received prestigious awards in the industry, such as Best Forex Broker, Best Overall Broker, Top 10 Brands in 2021, and more.
So, can investors trade with confidence on AvaTrade? What are the legal aspects and trading conditions of the platform? Let’s continue to read the detailed reviews below!
AvaTrade’s Operating License
AvaTrade is a company licensed to operate and regulated in many different countries, providing customers with peace of mind, demonstrating that they are trading with a reliable and reputable broker. AvaTrade must adhere to strict compliance requirements, including handling customer assets, deposit safety, and regular financial reporting. Here are the details of AvaTrade’s licensing authorities:
- AVA Trade EU Ltd is regulated by the Central Bank of Ireland (No.C53877).
- Ava Trade Markets Ltd. is regulated by the BVI Financial Services Commission.
- Ava Capital Markets Australia Pty Ltd được quản lý bởi ASIC No.406684.
- Ava Capital Markets Pty is regulated by the Financial Sector Conduct Authority (FSCA) of South Africa (No.45984).
- Ava Trade Japan KK is licensed and regulated in Japan by the Financial Services Agency (License No: 1662) and the Japan Financial Futures Association (License No: 1574).
- Ava Trade Middle East Ltd is regulated by the Financial Regulatory Services Authority (FRSA) of the Abu Dhabi Global Market (ADGM) (No.190018).
- DT Direct Investment Hub Ltd. is regulated by the Cyprus Securities and Exchange Commission (No. 347/17).
- ATrade Ltd is regulated in Israel by the Israel Securities Authority (No. 514666577).
This demonstrates that AvaTrade has expanded its operations worldwide, being licensed by top regional authorities in every region it operates. This underscores the level of trust, legal transparency, and confidence it instills in customers when participating in trading.
Types of Trading Accounts at AvaTrade
AvaTrade offers two main types of trading accounts: Standard and Pro.
- Standard Account: Almost all traders can sign up for this type of account, but it is more suitable for experienced traders who are familiar with trading and order placement. The account requires a minimum deposit of $100 and offers spreads starting from 0.9 pips for the EUR/USD currency pair, with a maximum leverage of 1:400. These conditions may be challenging for new traders.
- Pro Account: Not everyone can fund and trade with this account type. AvaTrade only offers professional accounts to investors who meet the following criteria:
+ Have had full activity over the past 12 months, including substantial trading with an average frequency of 10 trades per quarter in the last four quarters. Provide recent account statements as evidence.
+ Relevant experience in the financial sector of at least one year in a professional role. Traders must have a financial portfolio exceeding EUR 500,000
Fees and Leverage at AvaTrade
Spread and Commission Fees
In general, spreads at AvaTrade may not be as competitive as those offered by popular forex brokers in the market. AvaTrade discontinued fixed spreads in 2018, instead offering floating spreads with an average starting from 0.9 pips.
Major currency pairs
Regarding commission fees, the platform has not disclosed this information, but it does impose inactivity fees on accounts inactive for more than 3 months and management fees on accounts inactive for more than 12 months. Specifically:
- USD Accounts:
- $50 EUR Accounts:
- €50 GBP Accounts: £50
Applicable fees may change periodically.
- USD Accounts: $100
- EUR Accounts: €100
- GBP Accounts: £100
Applicable fees may change periodically.
The maximum leverage supported by AvaTrade is 1:400, which is relatively low compared to the market’s general landscape. Each product will have a different leverage level specified.
|Hàng nông sản||1:400|
|Tiền điện tử||1:25|
Trading Products at AvaTrade
When choosing to trade with AvaTrade, traders don’t have to worry about limited trading options. AvaTrade offers an extensive portfolio of investment choices, including:
- Forex: Over 100 currency pairs, including major, minor, and exotic currency pairs.
- Stocks: Over 100 stocks of leading companies like Apple, Amazon, Microsoft, and more.
- Cryptocurrencies: Most popular cryptocurrencies like BTCUSD, BTCEUR, BTCJPY, BCHUSD, ETHEREUM, XRP (RIPPLE), LITECOIN Mini, BTGUSD, DASH, Stellar (XLMUSD).
- Precious Metals: 5 precious metals including gold, silver, copper, platinum, and palladium.
- Energy: 5 types of energy products traded at AvaTrade, including Crude Oil, Brent Oil, Gasoline, Heating Oil, and Natural Gas.
- Agricultural Commodities: Various agricultural commodities such as corn, coffee, soybeans, wheat, sugar, cocoa, cotton, and more.
- Indices: Traders can trade 20 popular stock indices from various regions worldwide, including well-known indices like DAX30, NASDAQ 100, S&P 500, and more.
- Bonds: A range of government bonds from the United States, Europe, and Asia.
- ETFs (Exchange-Traded Funds): A variety of popular ETFs like VanEck Vectors Gold Miners ETF, MSCI Brazil, MSCI, SPDR, VXX, and others.
AvaTrade Trading Platforms
As part of its commitment to providing the best benefits for traders, AvaTrade offers popular and modern trading platforms, including MT4, MT5, and exclusive apps like AvaTrade Go and AvaOptions. Additionally, investors can trade on the web platform without the need for downloads or installations.
Trading on WebTrader
WebTrader is an online trading platform designed especially for traders seeking a simple and clean interface. You don’t need to download or install anything; you can access WebTrader with any internet-connected computer and trade from anywhere in the world.
MT4 has been around since 2002 and has since become an industry standard in online trading. With this platform, you can easily customize your trading experience, making it user-friendly for beginners while serving the needs of experienced professionals.
Features of MetaTrader 4:
- Flexible and fast trading platform.
- One-click trading.
- 9 timeframes.
- Integration of 30 built-in indicators.
- Trading signals from leading providers.
- Expert advisors for algorithmic trading.
- Global access via PC, web, and mobile devices.
MT5 is a modern, multifunctional platform proudly equipped with an advanced automated trading system, technical tools, and copy trading features. MetaTrader 5 is designed to cater to advanced trading across a wider range of asset classes compared to its predecessor – MT4.
Features of MetaTrader 5:
- Multi-Asset Trading (Forex, Stocks, Indices, Commodities, Cryptocurrencies, and ETF CFDs).
- Inter-account transfer.
- One-click trading.
- Expert Advisors (EAs) functionality for algorithmic trading.
- 12 timeframes.
- 3 chart types (line, bar, and candlestick) with direct trading from charts.
- 38 integrated indicators and 37 graphical objects.
- Comprehensive data backup and security.
- 6 types of pending orders.
- Transaction history information.
- Internal email system.
- News feed.
- Multi-threaded strategy tester.
AvaTradeGO is a trading platform developed by AvaTrade itself and has received the award for Best Forex Trading App. This unique technology allows investors to quickly view their trades, create watchlists, and access live prices and charts. It supports trading over 1,000 instruments, including major forex pairs, commodities, stocks, cryptocurrencies, and more. Users can also opt for the AvaProtect™ feature within the AvaTradeGO app or from WebTrader, which provides peace of mind during the execution of trades in real-time.
This is AvaTrade’s exclusive trading platform designed for trading assets in forex and gold. AvaOptions gives you full control over your investment portfolio.
Features of AvaOptions:
- Historical charts make it easy for traders to see the market’s past and reliable timeframes.
- Real-time updated profit/loss charts display your risk and reward.
- Customizable market watchlists load quickly.
- Volatility curves provide an overview of the market.
- Support available on web, mobile, and Mac.
Other Trading Support Tools:
- DupliTrade: A transparent and user-friendly trading platform that allows you to automatically copy trades from professional traders directly to your AvaTrade trading account. The benefits of trading with DupliTrade are especially valuable for new traders or those who are too busy to analyze the market.
- ZuluTrade: An advanced automated trading platform that connects directly to AvaTrade and MT4 through an API. With ZuluTrade, you can follow and copy experienced traders, choose from various signal providers, rank them based on performance, and manage your investment portfolio.
AvaTrade Deposit and Withdrawal:
AvaTrade offers limited payment methods, including credit cards, bank transfers, and e-wallets such as Skrill, WebMoney, and Neteller. Each method has its own specific processing time. However, please note that this feature is not available for customers in Europe and Australia.
- Credit and Debit Cards: Payments are processed instantly into your account.
- E-Wallets: Transactions are processed within 24 hours.
- Bank Transfers: May take up to 7 working days, depending on your bank and country.
AvaTrade Customer Support:
AvaTrade’s official website currently supports multiple languages, but unfortunately, Vietnamese is not one of them. This may pose difficulties in finding information or contacting the platform for inquiries before and during trading.
Additionally, while AvaTrade offers hotline support for many countries worldwide, there is no hotline specifically for Vietnamese traders. From these observations, it appears that AvaTrade has not aggressively expanded its presence in the Vietnamese market.
Summary of AvaTrade’s Pros and Cons:
- Regulated by reputable authorities.
- Diverse range of trading products and options.
- Modern trading platforms with advanced tools.
- Free deposits and withdrawals for traders.
- Limited trading account options.
- High minimum deposit requirements.
- Spreads may not be competitive compared to other forex brokers.
- Additional fees for account inactivity and management.
- Low maximum leverage.
- Lack of Vietnamese language support.
- Limited payment methods.
- Slow withdrawal processing times.
Based on the detailed review of AvaTrade, it is evident that despite being regulated by prominent authorities such as ASIC, AvaTrade still has several limitations, ranging from trading accounts and payment processing to customer support. Therefore, you should carefully consider before choosing a forex broker in general and AvaTrade in particular for your trading activities. Alternatively, you can explore other highly reputable brokers like Exness, XTB, XM, LiteForex, etc. Wishing you success!