New AvaTrade Broker Review – 2021 Update
AvaTrade is a top global forex broker and is also part of the AVA Group of companies. Starting all the way back in 2006, AvaTrade is among the oldest online brokerage firms in the industry. Our review will investigate the trading platforms available, withdrawal and deposit procedures, as well as what tools and additional benefits the broker offers. We will also cover the non-trading and trading expenses, leverage, and spreads.
AvaTrade currently has four offices across the world, situated in Japan, Australia, Ireland, and the British Virgin Islands. As one of the biggest and most respected online brokerages in the world, AvaTrade has clients from various regions and accepts different base currencies.
AvaTrade recently announced its partnership with the English Premier League team, Manchester City, underlining the broker’s visibility and growth.
Reputation & Regulation
Choosing a forex broker that is authorized by a reputable regulator is of extreme significance, as it highlights the broker’s trustworthiness and competence. AvaTrade is definitely one of those brokers as its governed by multiple regulators across the world:
- The broker is regulated by ASIC under permit #406684, in Australia.
- In Europe, the broker is regulated by the Central Bank of Ireland under license number #C53877.
- The broker is regulated by the FSA under permit #1662 along with the FFA under license number #1574, in Japan.
- In South Africa, the broker is regulated by the FSB under license number #45984.
AvaTrade is amongst the top online brokers in the industry when it comes to its reputation and dependability. The company has won various awards such as “Top 10 Brokers, China”, “Best Trading Experience”, “Best Broker: Most Reliable”, and “Best Dealing Room”
The broker also provides services in Canada through cooperation with Friedberg Direct. Friedberg Direct is a part of Friedberg Mercantile Group Ltd., a member of the Investment Industry Regulatory Organization of Canada (IIROC), the Canadian Investor Protection Fund (CIPF), and most Canadian Exchanges. Friedberg Mercantile Group Ltd. with headquarters at 181 Bay St., Suite 250, Toronto, ON M5J 2T3, Canada.
Trading Platforms
AvaTrade offers multiple platforms to choose from. There’s something for everyone, whether you are a beginner or an experienced trader. The platforms offered by AvaTrade are:
- MetaTrader 4
- MetaTrader 5
- AvaOptions (Proprietary Platform)
Besides the platforms, AvaTrade offers various automated trading tools to suit every individual’s needs:
- RoboX
- Mirror Trader
- MQL5 Signal Service
- API Trading
- Duplitrade
Trading Accounts
AvaTrade offers one account type to its clients, ‘The Standard Account’. You can try trading with AvaTrade using a demo account. Traders can open the Standard Account with a minimum deposit of $100 by depositing using a debit or credit card and $500 via wire transfer.
Muslim traders can open swap-free accounts that operate in accordance with the Islamic Sharia Principle of interest-free trading.
At the same time, professional dealers may open MAM accounts which include the following attributes:
- You can create multiple sub trading groups
- All MT4 order types are available
- Expert Advisors (EAs)
- 0.01 lots minimum lot
- Various allocation parameters
- Order placements for multiple customer accounts
Bonuses & Promos
Bonuses are based on the client’s jurisdiction. Some regulators do not permit them.
Instruments & Assets
AvaTrade offers a vast selection of financial trading tools. Investors are free to exchange:
- Forex – More than 50 currency pairs available: all majors, minors, and many exotic pairs.
- Cryptocurrency – (Not available in Canada) – 9 cryptocurrencies available, such as Ripple, Ethereum, Bitcoin, and Bitcoin Cash, with up to 20:1 leverage.
- Indices – like FTSE 100, DAX 30, NASDAQ 100, S&P50 and more.
- Bonds – AvaTrade offers a range of US, Asian, and European government bonds with a leverage of up to 5:1.
- Stocks – Securities from all the major exchanges like NYSE, NASDAQ, FTSE and more with leverage up to 5:1.
- ETFs – Exchange Traded Funds which “are a type of investment fund that tracks underlying assets like indices, bonds, commodities and divides ownership of those assets into share”.
- Commodities – Hard and soft commodities like gold, silver, coffee, sugar, platinum, and more.
Customer Support
AvaTrade offers excellent multilingual customer support. The broker is available via telephone, live chat, and email. The chat support works extremely fast and efficiently; the chat support agent connected almost immediately.
Answers were relevant and did not seem robotic. The support team speaks various languages including Arabic, Chinese, French, Italian, German, Russian.
Deposit & Withdrawal
Deposits: AvaTrade provides its clients with various methods for depositing funds. such as debit/credit cards (VISA, MasterCard, debit), bank wire, and numerous e-Wallets such as Paypal, Skrill, NETELLER, and WebMoney. The minimum initial deposit for opening up an account is only $100.
Withdrawals: Traders can withdraw funds through the very same method as they deposit. Withdrawal requests will require up to five business days to process, depending on the method. The quickest method of withdrawal would be using the Ava Debit Mastercard, which clients may apply for after signing up for an account.
Day Trading Tools
Education – AvaTrade has a great education center, which contains videos, eBooks, tutorials, glossaries, and much more. There’s a complete section on AvaTrade’s site devoted to traders’ education. At the same time, the entire website generally is extremely helpful for traders.
Trading tools – AvaTrade has plenty of features devoted to helping traders become successful in intraday trading. AvaTrade offers impressive automated trading software that is bound to make trading easier.
Plenty of financial instruments – There’s a huge variety of assets to pick from, making AvaTrade ideal for both novice and seasoned day traders.
Spreads
Spreads at Avatrade are competitive, and they’re continuously working to reduce them further. Especially in terms of cryptocurrencies, the company has made enormous strides. Just lately spreads on cryptocurrency transactions were slashed by 50%. As the broker gains confidence in the liquidity of these markets, they are bound to be braver with spreads.
Accepted Countries
Avatrade accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and more.
Avatrade does not accept clients from the United States of America, Belgium, Zimbabwe, Iran, Iraq, India, Pakistan.
