Regulator: MiFID & ASIC
Platform: Avatrade, Metatrader 4, Mirror Trader, ZuluTrade, Signal Trader
Payment Method: Mastercard, VISA, JCB, Paypal, Neteller, Webmoney, Skrill(Not AUS or EU)
Avatrade platform is comprehensive and easy to use
Max Leverage 200:1
AvaTrade operates as a multi-national corporation, and it has regional offices and sales centers in Dublin, Paris, Tokyo, Milan and Sydney. The company bases its administrative headquarters in Dublin, Ireland. Its official website is located at www.avatrade.com and a screenshot of its home page appears below.
From a regulatory perspective, AVA Trade EU Ltd is incorporated in Ireland and regulated by the Central Bank of Ireland under reference number C53877. AVA Trade EU Ltd operates as a licensed investment firm and complies with the MiFID or Markets in Financial Instruments Directive that provides a standardized regulatory system for investment services companies operating inside the European Economic Area. The MiFID helps increase operating efficiency and transparency from a financial perspective, in addition to providing enhanced consumer protection for those doing business with investment services companies.
AvaTrade has expanded considerably in the past few years — now boasting more than twenty thousand global customers who collectively execute over two million transactions per month. Overall, the forex broker’s monthly trading volume has now exceeded $60 billion, and AvaTrade has been given nine awards within its industry since 2009.
AvaTrade features firm financial backing and a user-oriented approach to its online forex brokerage business that helps distinguish it from the competition. The company offers 24-hour customer support in multiple languages and a wide range of trading platforms and educational services in order to help foster an ideal operational situation for traders of every level. The broker also makes a variety of asset classes available for trading, including currency pairs, equities, indexes and commodities.
No matter if you are a very experienced trader or new to trading, AvaTrade offers flexible trading platforms and brokerage services that offer you a good balance between ease of use and sophisticated functionality. AvaTrade provides a fully integrated software trading platform capable of providing access to multiple asset markets. For example, traders can execute transactions in commodities, equities, indexes, CFDs and ETFs using the same trading platform.
AvaTrade permits a maximum account leverage of 200:1, where permitted. Two basic account types are available that include a live funded trading account and a demo trading account. Demo accounts expire in 21 days and provide traders with $100,000 of virtual money. This can assist them in learning and practicing trading before they feel confident switching to a live funded account.
Supported Trading Platforms
AvaTrade supports a wide variety of trading platforms. The brokers’ proprietary client side AvaTrader trading platform works on Windows XP, Vista and 7, and a Macintosh version is also available. All of them can easily be downloaded and installed directly on a desktop or laptop computer.
The screenshot below shows the extensive functionality of AvaTrader, including technical and fundamental analysis, reports, tutorials and account management features.
Also, the AvaTrader Web platform allows you to sign in to your AvaTrade account using any Internet browser without having to install it on your computer. Finally, the AvaTrader Mobile App allows you to trade in an AvaTrade account using an iPad, iPhone and Android phones and tablets so you can manage and view your AvaTrade trading account while away from home.
In addition to its own AvaTrader trading platforms, AvaTrade also supports the following trading platforms: Metatrader 4, Mirror Trader, ZuluTrade, Signal Trader, Floating spread and Avaoptions. For those already using MetaTrader, AvaTrade offers their own version of the popular forex trading software to make account installation easier.
Deposits and Withdrawals
To open an account with AvaTrade, you will need a $100 minimum initial deposit if made by credit card or a $500 initial deposit if made by wire transfer. You can fund a trading account with debit cards, credit cards like Mastercard, Visa and JCB, and by using wire transfers. AvaTrade also permits electronic payments from providers like Paypal, Neteller, Webmoney and Skrill for all clients with the exception of those who reside in Australian and the EU. AvaTrade’s customer support confirmed that a $100 minimum deposit can be made using Paypal.
If you wish to start trading quickly, the fastest way to fund an account involves using your Visa or Mastercard credit card. You will need to select “My account” and then “Deposit” and fill out the required information. You will also need a clear color scan or photo of a valid government issued photo identification card and a clear copy of a recent (within the last 60 days) utility bill from your water or electric company, for example. A bank statement with your complete name and address could also suffice. Also, you will need a clear color scan or photo of the front and rear sides of your credit or debit card that shows all four corners. The picture must have your name clearly shown along with the first and last four digits of the card’s number and the expiration date. All this is needed because of the anti money laundering laws.
If you happen to be a newly registered trader, AvaTrade offers a generous 20% sign up bonus up to $10,000 of your initial deposit amount that will be added to your first initial purchase on the website. Be sure to check what requirements are to be met in order to make a withdrawal after using the bonus.
In order to make a withdrawal, you must first log into your AvaTrade account and select “My Account” at the upper right of the webs page. You can then fill out the withdrawal form carefully according to the instructions presented. Once the information is all filled out, you can then submit the form by clicking on “Upload Documents”, which is also in the “My Account” page. A withdrawal can take anywhere from 24 to 48 business hours for the funds to be removed from your account, and then up to five business days for the funds to arrive in the receiving account. Saturday and Sunday are not business days for AvaTrade.
AvaTrade offers a friendly and helpful customer support service available 24/5 via e-mail, Fax and phone, as well as live online chats with a support agent. Their customer support service is also available in many languages and regions for the convenience of AvaTrade’s clients.
In addition, AvaTrade’s offers numerous different types of educational support for traders just starting out in the forex market. These include trading tutorials videos, Webinars, written instructions for novice traders, and an informational e-book series.
Overall, AvaTrade offers a remarkably complete online brokerage service that includes the ability to execute transactions in commodities, equities, indexes, CFDs and ETFs. Not only does this broker support MT4, but their proprietary AvaTrade trading platform is comprehensive, easy to use, and is available in desktop, web and mobile versions.
AvaTrade also offer traders a generous 20% bonus on their initial deposit, which can be made by a variety of convenient methods, including electronic payment services like Paypal. Although the maximum leverage offered is only 200:1 — which is less than some other brokers — this might turn out to be a safer leverage level for newer traders.