AvaTrade Review 2021

by Mike Throttll last updated on May 14, 2020
Minimum Spread :   0.91
Foundation Year :   2006
Min Deposit :   $100
Broker Trusted Point+1
RECOMMENDED BROKER

The Avatrade broker started its journey in 2007 and has been rendering services to millions of traders globally. It is one of the subsidiaries of the AVA group of companies. Interestingly, it is among the oldest online trading service providers in the industry. The Avatrade review highlights the brokerage company’s qualities, features, characteristics, and other essential ingredients. 

The broker started its partnership with one of the world’s biggest football clubs, Manchester City, in 2018, which speaks about the broker’s credibility and popularity among investors. The company has offices in different parts of the globe, including the British Virgin Islands, Ireland, Japan, Australia, South Africa, Cyprus, Middle East, and Israel. 

Avatrade Review: Pros And Cons 

Pros

  • The broker offers platforms like MetaTrader4 and MetaTrader5 for trading
  • Regulations across seven jurisdictions. Thus, added safety
  • User-friendly interface
  • Strategies Ebooks for better learning of trading
  • Use Expert Advisors 24/7 for trading
  • Provides multiple tools for better investments
  • It has won plenty of awards
  • 24/7 cryptocurrency trading
  • 1000+ instruments for trading 
  • Negative balance protection 
  • The broker can be contacted 24/7 through several communication channels. 

Cons 

  • The overall look of the trading website is old and requires an update
  • It does not have options for trading accounts compared to brokers like Capixal, ABinvesting and Brokereo
Regulators ASIC, CySEC, Central Bank of Ireland
Trading Fees Class Low
Inactivity Fees Charged  Yes
Withdrawal Fee Amount USD 0
Minimum Deposit  USD 100
Islamic Account Yes
Time to Open an Account  1-day
Deposit with Bank Card Available 
Depositing with Electronic Wallet  Available
Total Assets 250+
Demo Account Provided Yes
Products Offered Stocks, commodities, forex, Bonds, ETFs, cryptocurrencies, Indices, CFDs

Is Avatrade A Scam? Regulations 

The broker has been offering its brokerage services since 2007. Thus, there is a trust among traders and investors regarding Avatrade’s credibility. Moreover, several top regulatory authorities regulate the brokerage firm. Some of them are:-

  • Israel Securities Authority
  • Cyprus Securities and Exchange Commission
  • Abu Dhabi Global Markets
  • ASIC
  • BVI Services Financial Commission 
  • Central Bank of Ireland 

Furthermore, there are myriad registrations and licenses that the broker works under. 

Some license numbers are:- 

  • Financial Futures Association of Japan : 1574 
  • Financial Services Agency : 1662
  • ASIC: 406684
  • CySEC: 347/17
  • FRSA: 190018

Thus, trading with the broker is absolutely safe for all traders alike, irrespective of where they stay or trade. 

AvaTrade awards

Avatrade Review: Trading Account Types  

The online brokerage service provider does not have too many accounts but primarily two accounts for trading for its subscribers. That might seem lesser compared to what other brokers are offering to their clients. 

Professional Account and Islamic Account services aid traders from different backgrounds to trade in the financial market. 

Both accounts have distinct features, where the latter purely caters to the Muslim sect. The process of trading is designed as per halal rules to attract people from the Islamic faith to invest in the market. 

Professional Account 

The account allows traders to attempt a sufficient trading activity that simplifies their investment and helps draw gains with limited funds. It offers tremendous trading activities to all market players. They can trade on preferred financial assets with the highest leverage possible through minimum margin requirements.

With the application of leverage, traders can magnify their capital base. Thus, the trading opportunities in the market get elevated. The margin requirement with a retail account is 50 per cent. However, with a professional account, it is convenient and flexible for traders. 

The account is tailored to the needs of traders. Some of the pertinent features:- 

  • Zero commission on transactions 
  • Tight spreads for traders
  • Money remains protected with AvaProtect
  • 1000+ instruments for trading

Islamic Account 

It is precisely for Muslims and created to bring the attention of Muslims towards financial trading. That’s why the account follows all regulations that do not flout any rules of Sharia. Islam followers feel comfortable trading with the trading account. 

Muslims traders can access CFD trading twenty-four hours a day and offer a huge variety of instruments for trading. Moreover, there are no interest rates levied on these market participants. 

The principles of morals, transparency and fairness are always there. 

PS: The broker facilitates its clients with a demo account that enables them to understand the operational aspects of the broker. Also, it makes them accustomed to the trading market and let them invest in the market frequently by exhibiting the best aspects of investments. Moreover, it throws several situations that helps traders to create myriad plannings against them while facing real-time trades. So, it aids like a mock test before the final battle. 

Avatrade Review: Account Opening 

The account opening process or registration process is simple for all subscribers. It takes three easy steps for creating an account on Avatrade. 

A trader needs to provide the first name and the last name to be used in the ID. It also requires an official id of a person who wants to register along with a mobile number that receives OTPs and other important information during trading. The account gets opened. Traders can provide the minimum deposit, verify through personal documents and start trading in the financial market. 

For creating a professional account, opening an account with Avatrade is essential. Besides, a trader can check the eligibility and apply for a professional account. 

While creating an Islamic Account, Muslim traders need to follow a similar procedure. It might take 1-2 days for the verification process. A relevant department reviews the application and sees everything before approving a trader for trading. 

It offers Islamic forex trading, halal oil trading, halal silver and gold trading, halal indices trading etc. 

AvaTrade account opening

Avatrade Review: Trading Platforms

The broker has several trading platforms, including MetaTrader4, MetaTrader5, WebTrader, Mobile Trading, AvaTradeGo, Automated Trading, Mac Trading and AvaOptions. 

WebTrader:  

The platform is free from any downloads and suitable for all types of traders irrespective of their experience. The interface adheres to the needs of investors. It renders risk-reduction tools to users. Thus, trading through different assets become pleasant here. 

MetaTrader5 

The trading platform is an art in its own right while trading in the financial market. It provides advanced auto trading systems. Here are some characteristics:- 

  • It offers superior execution 
  • Boasts advanced tools 
  • Trade with greater assets 
  • Supports Expert Advisors
  • Libraries 
  • Scripts 
  • User-friendly 
  • The broker is secured

MetaTrader4 

  • Algorithmic trading
  • Trading signals from best advisors
  • Accessible through various devices
  • Fast trading platform 
  • User friendly
  • Hedging is permitted

Avatrade Review: Mobile App 

AvaOptions: 

The trading option puts a trader in the driver’s seat. It streamlines prices and products for opting and makes investment looks simple. 

  • Take a view
  • Hedge easily
  • Offers money managers 
  • Provides risk management tools
  • Forex options and beyond 
  • Flexible orders 
  • Total control over your portfolio
  • Fully customisable interface
  • Execute option and spot trades
  • Use modules for pay-off diagrams and charts
  • Live risk reports 

Avatrade Review: Trading Instruments 

The broker has plenty of instruments for trading in the financial market. Its products range from forex, commodities, CFDs, cryptocurrencies, stocks to bonds, indices and ETFs. 

Forex trading: While trading in the forex, the broker offers several currency pairs, including GBP/USD, AUD/USD, EUR/GBP, USD/JPY, EUR/JPY and many others. Traders can speculate on these currencies using CFD in a plethora of international markets.

Stocks trading : The brokerage firm has some of the greatest trading assets, including Netflix, Microsoft, Amazon, Intel, Apple, Teva etc. These blue-chips companies enable traders to make bigger profits. 

Indices trading: A beginner trader can start with indices trading for ignoring any losses while starting financial trading. Also, it helps in gauging stock markets and shares. There are DAX 30, US_30, CAC 40, US_500 etc. 

Commodities trading: The market is volatile and the broker takes care of that aspect for every trader. There’s gold, platinum, oil, wheat, corn etc. for trading. The yellow metal 

Cryptocurrencies trading: The market is growing swiftly and giving immense chances to make massive investments and returns. The brokerage firm offers, Ethereum, Litecoin etc. for investing and earning money genuinely. 

CFD trading: This trading element opens international markets for betting on underlying assets. Here, a trader does not need to buy the underlying asset but speculate on the direction and make huge returns through that. However, it requires some understanding of different assets. Also, it is slightly risky. So, a trader needs to follow certain guidelines.

AvaTrade Review Bitcoin 

Avatrade Review: Commission & Spreads  

The broker does not seek any commission from its traders. Thus, it scores big on that part. However, spreads are flexible with the broker that help market players show their best game and bet through investment strategies. It unfolds several opportunities for clients. 

Avatrade Review: Leverage 

The broker has an amazing leverage facility that heralds optimum trading for novice to veteran traders. 

Avatrade Review: Deposit and Withdrawal 

People can transact using e-wallets, wire bank transfers, credit and debit cards. The process is seamless. 

Avatrade Review: Educational and Research Support 

There are trading videos, trading rules, technical analysis and strategies, economic indicators, trading ebooks, order types and several other elements for research support and education purposes. 

Avatrade Review: Customer Support 

Traders can contact on phone number: +1 212-941-9609

When they encounter any issue regarding trading. 

Also, the live chat is one of the methods for getting in touch. However, some traders may not find it satisfactory. 

Conclusion 

Overall, after visiting the broker website, traders do not get all the answers they seek. Information is either hidden or not offered on purpose. In comparison to other brokers, the Avatrade looks pale. The transparency factor is present but in bits and pieces. Also, the look of the website seems old and outdated. However, the Avatrade review sheds light on terrific features like MetaTrader 5, plenty of trading instruments etc. 

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