AvaTrade Review 2021
- Operating Since: 2006
- Leverage: 400:1
- Spreads: Variable
- Commission: $0
- Platforms: MT4, MT5, AvaWebTrader
- Min. Deposit: $100
- Regulations: CBI, BVI, ASIC, FSB, FSA, FRSA
- Markets: FX, Bonds, Crypto, Indices, Shares, ETFs & Commodities
AvaTrade Review: Summary
AvaTrade is a privately-owned online broker that launched in 2006 from its headquarters in Dublin, Ireland. The firm has grown to become one of the leading and most trusted online brokers, with satellite office offices located throughout Asia-Pacific and Europe.
With AvaTrade, you can trade 1,000+ global financial markets including stocks, cryptocurrency, indices, forex, commodities, with reasonably-priced variable spreads. This online broker is renowned for offering a large array of trading platforms, including MT4, MT5, AvaTradeGO, social trading, AvaOptions and advanced mobile trading. AvaTrade offer negative balance protection which is excellent and they also offer AvaProtect, which is a protective risk management tool for all traders, new or old.
This AvaTrade review will look at the benefits & negatives of trading with this broker, as well as reviewing which platforms you can trade on with AvaTrade, their spreads, leverage, and more!
The Pros of Trading with AvaTrade
Very adequately regulated (CBI, BVI, ASIC, FSB, FSA, FRSA)
Long-standing, reputable broker
Negative balance protection for retail clients
Award-winning online broker
High leverage of 400:1
The Cons of Trading with AvaTrade
- Not FCA regulated
- Variable spreads only
- Inactivity fee
- No guaranteed stop-loss orders
Which Instruments Can You Trade with AvaTrade?
50+ FX pairs
All major and minor pairs, and some exotic pairs.
Traders can access 9 different cryptos, including Ripple, Bitcoin and Ethereum.
All the main global indices are available, such as the FTSE100, US30, Dow30 and the Dax.
Most metals (gold, silver, platinum etc.) are available, and a few soft commodities, like oil, coffee, soybeans etc.
AvaTrade do not offer a vast range of stocks but they cover the main ones, like Apple, Tesla etc.
Who Are AvaTrade Regulated By?
AvaTrade are a very heavily regulated company, which is great news for people looking to trade with them as it typically means more security. They are regulated by the following:
- ASIC in Australia (under license #406684).
- The B.V.I Financial Services Commission (British Virgin Islands).
- Europe by the Central Bank of Ireland (under license #C53877).
- FSA in Japan (under license #1662).
- In South Africa by the FSB (under license #45984).
- Abu Dhabi Global Markets in the Middle East (No.190018).
AvaTrade Account Types
The most commonly used AvaTrade account, however with leverage of just 30:1 for retail clients within the UK, Australia and Europe. Under this account, traders are entitled to negative balance protection and updated risk warnings every three months, that alert you to the % of clients who have lost money.
The AvaTrade Pro account is mainly for Australian, UK and European traders who want access to greater leverage than ESMA or ASICs maximum leverage of 30:1. Successful pro applicants will be provided with leverage of a maximum 400:1, although being classified as a Pro is not a simple task and T&Cs apply. Please note, as a pro client, you will not receive risk warnings, negative balance protection or a dispute resolution service.
AvaTrade’s standard account is available to traders outside of Australia and the UK/ Europe. This account allows for a maximum leverage of 400:1 in some markets.
The VIP account is available to those who make an initial deposit of at least USD $10k (or equivalent currency) and who regularly trade high volumes. AvaTrade’s VIP account comes with lower spreads and leverage of 400:1.
Spreads are competitive with Avatrade, although they are by no means a low-cost online broker.
Here are some of their most popular spreads:
- EUR/USD: 0.9 pips
- GBP/USD: 1.6 pips
- Wall St 30: 3 points
- UK100: 0.50 over market spread
- Gold: 3.4 points
- Silver: 2.9 points
- Bitcoin: 0.25% over market (100+ points)
AvaTrade offers a rather impressive suite of trading platforms to its customers – some are listed below.
- MT4 platform
- MT5 platform
In addition, AvaTrade also offers several automated and social trading systems:
- MQL5 Signal Service
AvaTrade Customer Support
This online broker provides a world-class, 24/5 customer support service across various mediums such as email, live chat, phone, FAQs and social media.
Customer support is also provided across 15 different languages, making it an excellent service for non English speaking customers. AvaTrade offer direct phone access to traders in Austria, Cyprus, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Romania, Russia and Slovenia.
Deposits & Withdrawals with AvaTrade
Bank transfers. These usually take 2-3 business days before appearing on your AvaTrade account and these deposits are free of charge. Withdrawing funds via bank transfer are slow and can take 5-10 business days to be returned to your bank account.
Visa and Mastercard credit cards. Deposits made by credit or debit card are instant and AvaTrade do not charge you any additional fees (withdrawals are also free of charge).
PoliPay/ Skrill/ Neteller/ WebMoney/ Paypal. These deposits are instant and are free of charge. There are no charges for withdrawals either.