AVATRADE Review | Top Trusted Broker 2021

AVATRADE REVIEW:

Avatrade Review: Avatrade Forex Broker started their journey in 2006 and they have already gained a good amount of popularity, they now have more than 3 million registered customers worldwide, and more than 2 million trades are executed every month. And more than 70 billion is traded every month. Over the past fourteen years they have been able to create a safe and secure environment for traders, Avatrade licensed by top-tier Financial Regulatory Authority. They are licensed from eight financial institutions.

Avatrade is a member of the Ava group which has headquarters in Australia, global headquarters in Ireland.

Our testing found Avatrade to be great for copy trading, competitive for mobile, mostly in line with the industry average for price and research.

FEES & COMMISIONS

Speaking of Avatrade fees, there are no fees for deposits and withdrawals, but there are much higher fees for inactivity. And trading fees can say, on average, almost like their competitor.

Forex trading fees built into the spread.

No trading fees
Although AvaTrade does not charge any fees for deposits and withdrawals, they charge much higher fees for inactivity than their competitors.

If the account is fully inactive within three months, a 50 50 inactivity fee must be paid, and if a person is inactive for the entire year, he or she must pay a 100 fee.

How to create a trading Account in AVATRADE

Opening almost all Forex Brock accounts is pretty much the same procedure. Enter your personal data first.
Then there are a few things to do to verify your trading knowledge. Answer these questions about trading.
And to verify your identity, show your personal verification documents such as a scanned copy of your passport or driving license, and your recent utility bill or bank statement to verify your address, or a document where your address is written, and this information is you should match the document.

Account Types

The types of accounts available at AvaTrade are: This broker offers six different types of accounts so it may be a good choice for a beginner or expert trader.

Retail account (EU) / Standard account (Rest of the world) – account is owned by an individual
Corporate account – account is owned by a legal entity
Options account – to trade FX options
Spread betting account – offered only in the UK and Ireland
Islamic account – swap-free account

If you are a citizen of Europe you can open a retail account and there are standard account options for the rest of the world except Europe. This is not too basic for me and not too premium.

A corporate account will require a legal entity.

Option account

Options account will be required for options trading. Remember that Option trading is riskier than forex. Because the rules of options trading and forex trading are different.

Spread betting account

Spread betting account – offered only in the UK and Ireland

Islamic account

Some traders engage in day trading, which means keeping positions open for a few hours or less. Other traders, however, employ trades with a longer scope and keep their positions open for more than 24 hours.

When you keep a position open overnight, you will need to pay a rollover fee. This kind of interest goes against Riba principles of Sharia law. This is why almost all major brokers offer swap-free trading opportunities. Avatrade supports Islamic Account but you have to apply for that.

You can do it in 3 simple steps:

1. Verify your account by sending all the relevant documentation.
2. Fund your current trading account.
3. After you’ve funded your account, you can apply for an Islamic account, which operates under the Sharia Law. The request will then be forwarded to the relevant department for review and approval. Requests are usually processed within 1-2 business days.

How to open an account

Opening an account with Avatrade Forex Broker is a very simple task, which you can complete in a few minutes through your Mobile phone or PC. Opening a trading account with all Forex Broker is pretty much the same procedure.

1. Enter your personal data first.
2. Then there are a few things to do to verify your trading knowledge. Answer these questions about trading.
3. Verify your identity, show your verification documents such as a scanned copy of your passport or driving license.
4. For address verification, you have to provide a recent utility bill or bank statement to verify your address or a document where your address is written, and the address document should contain the same information as your identification documents.

Country Restriction

Avatrade offers its services to almost every country in the world, with the exception of a few, including the United States, Belgium, and Iran.

What is the minimum deposit?

And their minimum deposit is only $100, which you can deposit through any type of e-wallet or eCard or bank. Deposit is free of charge.

Deposits and Withdrawals

There is no fee for deposits and withdrawals, there are so many methods you can use to fund your account, you can use a Debit/Credit card, electronic wallet, or bank transfer to make a deposit. (Neteller, Skrill, Klarna, Webmoney, POLi for Australians, and Bank Transfer.)

Deposits and withdrawals through electronic wallets are relatively fast.

However, Debit/credit card and Bank transfer withdraws can take up to three days.

You can deposits funds in your account through several currencies, at the moment Avatrade is supporting Euro, USD, GBP, CHF, and AUD these five currencies. However, its competitor brokers support more currency than this. The advantage of having base currency is that you do not have to pay any currency conversion fee.

However, its competitors are offering more base currencies. like XM Broker support 11 currencies as Based currency.

You can read our review about XM broker. here ..

AVATRADE Review: Trading Platforms

Web Trader

Their Web-Trader platform is very user friendly, but there is some lack some customizability, and there is no two-step verification system, two-step verification would have strengthened the security more, and no price alerting system, therefore trader have to watch market movement 24/5, which is not possible.

MetaTrader 4 and MetaTrader 5

MetaTrader 4 and MetaTrader 5 are two third party software that can be used to advance trading.

Ava Options

And they are offering ava options service for options trading.

Automated trading

Automated Trading Software allows you to automatically copy trades from an experienced Forex trader, using DupliTrade, ZuluTrade, and MQL5 software.

Markets and products

AvaTrade offers only forex and CFDs, such as stock, index, forex and commodity CFDs. It doesn’t offer other popular asset classes such as real stocks, bonds or mutual funds.

Our AvaTrade review team was especially happy to find that it provides access to more than 1250 instruments including Forex, Cryptocurrencies, Stocks, Commodities, and indices trading. This huge range of trading instruments provides you with great opportunities to protect your balance by diversifying your portfolio.

AvaTrade research tools

With the tools offered by Avatrade on the various platforms, there are so many resources for traders of all levels. In addition to the Guardian Angel tool available on MT4 and MT5, and AvaProtect on the AvaTradeGO app. CFD rollover dates, trading calculators, and other useful analysis tools.

• News
• Trading signals and indicators
• Trade ideas
• Expert analysis
• Autochartist tools

AvaTrade customer support

AvaTrade provides great customer support, with fast and relevant answers via live chat, email, or phone in 14 local languages. Has 9 offices worldwide. On the negative side, support is not available 24/7, only 24/5. and responses to live chat are not always instant.

AVA Trade EU Ltd is regulated by the Central Bank of Ireland (No.C53877).
AVA Trade Ltd is regulated by the B.V.I Financial Services Commission.
Ava Capital Markets Australia Pty Ltd is regulated by the ASIC (No.406684).
Ava Capital Markets Pty is regulated by the South African Financial Sector Conduct Authority (FSCA No.45984 ).
Ava Trade Japan K.K. is licensed and regulated in Japan by the Financial Services Agency (License No.1662: ), the Financial Futures Association of Japan (License No.1574:).
Ava Trade Middle East Ltd is regulated by the Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA) (No.190018).

AvaTrade information

• Year Founded: 2006
• Licenses: CBI, B.V.I. FSC, ASIC, FSCA, FSA, FFAJ, and FRSA
• Headquarters Address: AvaTrade Financial Centre, Five Lamps Place, Amiens Street, Dublin 1, Ireland
• Phone Number: +353766705834
• Facebook: https://www.facebook.com/AvaTrade/
• Twitter: https://twitter.com/AvaTrade

AvaTrade – Our verdict

After testing this broker using methodology and scoring system, our review team happy to recommend this forex broker. It’s regulated by numerous jurisdictions and its long history (15 years) provides peace of mind.

AvaTrade has a huge list of instruments for trading. And offers web trader, mt4, mt5, also Option trading app which  makes the broker stand out from the crowd. Not to mention it creates huge opportunity for beginner traders through social trading.