Hello Wootfi.com Visitors Today We Covered Avatrade Review. Please Read Our All review to know more about Avatrade Broker.
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
| Minimum Balance | $100 |
| Support Currencies | GBP, USD, CHF, JPY, CAD, AUD, EUR |
| Platform | MetaTrader 4, MetaTrader 5 |
| Year Founded | 2006 |
| Publicly Traded (Listed) | Yes |
| Bank | Yes |
| Mobile App | Available |
| Customer Support | Phone, email and live chat support 24/7. In person at local branches. Support also available via text, Facebook Messenger, Twitter direct message, Apple Business Chat and Amazon Alexa. |
| Country Regulation | Ireland, Australia, Japan, South Africa, Abu Dhabi, British Virgin Islands, Israel |
| Official Website | Click Here To Visit |
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
| PRO | CONS |
|---|---|
| Wide range of trading instruments: AvaTrade offers a large number of tradable assets, including forex, stocks, indices, commodities, cryptocurrencies, ETFs, bonds, and options, giving clients a lot of choices for diversifying their portfolios. | Limited product offerings in some jurisdictions: Depending on where a client resides, the range of tradable assets and services offered by AvaTrade may be limited. |
| User-friendly trading platforms: AvaTrade provides its clients with several trading platforms, including its proprietary AvaTradeGO, MetaTrader 4, MetaTrader 5, and the DupliTrade social trading platform, which are known for their user-friendly interfaces. | Higher fees for some services: AvaTrade charges higher fees for some services, such as inactivity fees, compared to other brokerages. |
| Strong regulation and 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. | Relatively high spread on some assets: AvaTrade’s spreads on some assets, such as cryptocurrencies, can be relatively high compared to other brokerages. |
| Comprehensive educational resources: AvaTrade provides a wealth of educational resources and market analysis tools, including live webinars, video tutorials, trading guides, and economic calendars, to help clients improve their trading skills. | Limited range of research tools: While AvaTrade provides clients with a range of educational resources and market analysis tools, the research tools offered by the brokerage are not as extensive as those offered by some other online brokerages. |
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
Is AvaTrade a reliable brokerage firm?
Yes, AvaTrade is a reliable brokerage firm that 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.
What trading instruments does AvaTrade offer?
AvaTrade offers a wide range of tradable assets, including forex, stocks, indices, commodities, cryptocurrencies, ETFs, bonds, and options.
What trading platforms does AvaTrade provide?
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.
Does AvaTrade offer any educational resources for its clients?
Yes, AvaTrade provides its clients with a wealth of educational resources and market analysis tools, including live webinars, video tutorials, trading guides, and economic calendars.
