Avatrade Review : Is Good Forex Broker Or Not ? 2023 Pro Or Cons Latest Updated

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About Avatrade

AvaTrade is a global forex and CFD broker. Account opening is easy and fully digital. AvaTrade offers various deposit and withdrawal options, all of which are free of charge. It also has diverse and user-friendly research and education tools. On the flip side, the product portfolio is limited as it consists only of forex, various CFDs (for stocks, indexes, commodities, etc.) and cryptos. Inactivity fees are high, and forex trading fees are not the most competitive on the market. BrokerChooser gave AvaTrade a 4.3/5 rating based on analyzing 500+ criteria and testing via opening a live account.

Avatrade at a glance

How To Create Account At Avatrade

Avatrade offers many different account types with no minimum deposit requirements, which means US citizens of all financial backgrounds can sign up.

Fees

AvaTrade charges a spread between the bid price and the ask price; this spread is how most trading platforms make their money. The spread will change based on the type of CFD being traded. For instance, the spreads for CFDs on stocks are higher (more expensive) than those on ETFs.

Avatrade does not charge deposit or withdrawal fees but does charge an account inactivity fee of 50 USD per quarter after three months of inactivity.  Additionally, a fee of 100 USD will be added to this after 12 consecutive months of no trading.  Compared to other brokers, these fees are relatively high.  

Avatrade Deposits and Withdrawals

Avatrade’s deposit and withdrawal fees are low compared to other market makers.  However, withdrawal times are slow compared to other brokers.

A well-regulated broker, Avatrade ensures that all Anti-Money Laundering rules and regulations are followed, and as such, all non-profit withdrawals are returned to the deposit source. It is important to note that traders must withdraw up to 100% of the deposit to a credit or debit card. After this, funds may be withdrawn by another method, but they must be in the trader’s name.  Avatrade does not charge fees for deposits or withdrawals. 

How Fast are Deposits Processed?

• E-payments are processed within 24 hours.
• Bank transfers can take up to 7 business days to be processed.
• Initial deposits with credit or debit cards can take up to 1 business day to reflect in your trading account due to the security verification process.

How to Withdraw Funds From AvaTrade

Withdrawals are typically processed and sent within 1 to 2 business days. Once the withdrawal is processed, additional time may be required for you to receive it. Here are the different times according to the different payment channels:

• For credit and debit cards – up to 5 business days.
• For e-wallets – up to 24 hours.
• For wire transfers – up to 10 business days (depending on the bank’s location).

Avatrade Trading Platforms

Avatrade offers a wide range of trading platforms compared to other similar brokers, including MT4, MT5, and its own proprietary platform.  Avatrade also provides one of the best mobile trading experiences, with its AvatradeGo App.

Avatrade offers several trading platforms, including:

• Webtrader, Avatrade’s proprietary platform
• Metatrader 4
• Metatrader 5
• AvaOptions, Avatrade’s platform for CFD options

High Grade Features Which Offer By Avatrade

Trading Platforms

AvaTrade provides its clients with a choice of several trading platforms, including its proprietary AvaTradeGO, MetaTrader 4, MetaTrader 5, and the DupliTrade social trading platform.

Trading Instruments

AvaTrade offers a wide range of tradable assets, including forex, stocks, indices, commodities, cryptocurrencies, ETFs, bonds, and options.

Education & Research

AvaTrade provides its clients with a wealth of educational resources and market analysis tools, including live webinars, video tutorials, trading guides, and economic calendars.

Customer Support

AvaTrade offers 24/7 customer support in multiple languages via phone, email, live chat, and a comprehensive FAQ section on its website.

Regulation & Security

AvaTrade is regulated by several reputable financial authorities, including the Central Bank of Ireland, ASIC in Australia, and the B.V.I Financial Services Commission, ensuring the security of clients’ funds.

Deposits & Withdrawals

AvaTrade provides a range of flexible and secure deposit and withdrawal options, including credit and debit cards, bank transfers, e-wallets, and cryptocurrency.

Automated Trading

AvaTrade offers a range of automated trading solutions, including the ZuluTrade social trading platform and the DupliTrade platform, allowing clients to copy the trades of successful traders.

Pros & Cons Of Avatrade

Avatrade Conclusion

In conclusion, AvaTrade is a well-established and reputable online brokerage firm that offers a wide range of trading instruments and services to its clients. With user-friendly trading platforms, comprehensive educational resources, strong regulation and security, and good customer support, AvaTrade is a good choice for many traders and investors.

However, it’s important for clients to carefully consider the limitations of AvaTrade, such as limited product offerings in some jurisdictions, higher fees for some services, and a relatively high spread on some assets, before making a decision. Clients should also compare AvaTrade with other brokerages to ensure that it meets their specific needs and preferences.

Overall, AvaTrade is a good choice for traders and investors who are looking for a well-rounded brokerage firm with a range of features and services.

Frequently asked Questions