AvaTrade was founded in Dublin, Ireland, in 2006 by Emanuel Kronitz and Negev Nosatzki. The firm began operations as forex trading firm Ava FX, but soon branched out into other asset classes. The Central Bank of Ireland is one of AvaTrade’s many regulators, and AvaTrade segregates all client money from its own business funds. AvaTrade is also WebTrust compliant, and follows best practices to secure client information in terms of cybersecurity. AvaTrade’s 48 educational videos cover a wide range of topics, and explore niche subjects like Donchian Channels (what they are, and how traders can use them). AvaTrade also uploads and archives video webinars on its YouTube and Vimeo channel, which help to round out its offering.
- Traders who want additional time on top of the standard 21-day demo account can contact your account manager for an extension.
- AvaTrade offers 1,260 symbols in MT5 and nearly the same number in WebTrader, though a few hundred of those symbols have been put on hold.
- A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
- Users get a total of 100,000 demo currency credits to test the platform with.
To pass the AvaTrade identity verification, you will need to upload both an ID and proof of residence. However, traders can make deposits prior to being verified by AvaTrade. In order to withdraw funds, traders need to fill out a withdrawal form through MyAva. Traders must verify their account to be eligible for withdrawals. AvaTrade holds regulatory licenses in multiple financial hubs across the globe. While not directly regulated in Canada, AvaTrade caters to clients in the country through its partnership with Friedberg Direct, which required regulatory approval.
Customer Support
All support avenues are available 24-hours-a-day, 5 days-a-week. The hamburger menu allows access to account settings, personal preferences, and various trading tools like the trading calculator. The AvaTrade web trader’s dashboard welcomes traders with a shortcut menu on the left-hand side, offering tabs like trading, position management, open orders, and order history. AvaOption is AvaTrade’s mobile-exclusive options platform. Traders can execute, and manage FX and options trades on-the-go with 13 different options strategies available.
FP Markets Review
Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. Founded in 2006, AvaTrade has offices in 11 countries and provides multiple trading platforms for web, desktop, and mobile devices, offering spot forex and forex options and CFDs on numerous asset classes, including cryptocurrencies. AvaTrade has 300,000 registered traders who place more than 3 million trades each month and has executed more than $1.47 trillion in traded value since inception. Deposits can be canceled by contacting AvaTrade’s support team on business days (excl. Saturdays and Sundays). If deposits do not arrive in traders’ accounts, they can also contact the support team.
Forex, Gold & Silver:
We’ve only had two conversations but I quickly feel like I’m having a conversation with one of the boys and he is super helpful and informing. He wecomed me to Avatrade as I openned an account yesterday. The explanation was clear and I will definetly trade with Avatrade. It goes against our guidelines to offer incentives for reviews. We also ensure all reviews are published without moderation.
Within 10 minutes of registering a new account, Alev Nazli (Account Manager) was straight on the phone talking me through all the initial aspects required to successfully open the account and start trading. She stayed beside me over the initial period to ensure everything was set up correctly and functioning. AvaTrade claims that the withdrawal process takes 1-2 working days (Mon to Fri). The arrival time of funds depends on the payment method used for your withdrawal. The fastest withdrawals are usually processed via credit and debit cards, or via e-wallets like Neteller and Skrill. Wire transfers may take the longest up to 10 days after processing.
Traders can upgrade to a real trading account directly from the mobile app, either from the homepage dashboard, or the account settings section. As per the web trader registration, traders are asked to fill in a set of personal and experience-related details. Demo account traders are not required to complete the verification process. When it comes to mobile trading, AvaTrade caters to traders of all levels with AvaTradeGo.
Review Methodology
When opening an account, you will have to choose the jurisdiction you wish your account to be. It is an important aspect that has to be thought thoroughly since leverage, banking options, and the availability of Investor Compensation schemes will depend on it. For example, suppose you wish to be regulated under AvaTrade’s EU entity. In that case, your account will fall under the Central Bank of Ireland’s rulebook, implying that you will be subject to the Investor Compensation Scheme. However, the leverage level will be lower than the one offered by AvaTrade’s BVI entity.
Vincent was very helpful with my…
An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. AvaTrade does not charge a deposit fee, and the minimum deposit is $ 100, so, very accessible for traders who just started. Users get a total of 100,000 demo currency credits to test the platform with.
There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider.
AvaTrade Fees
As its name indicates, AvaOptions is a platform specialised in Options Trading (Spot, Call, Put, and Combined) on 40 FX pairs. Being specialised, it allows many variants of Trading that other platforms don’t. Long story short, MT4 allows Traders a variety of functionalities to customise their trading experience.
AvaTrade stands out for its rich selection of trading platform options, and for its educational content for beginners – categories where it finished Best in Class. Its range of tradeable markets has nearly doubled year-over-year, and spreads for clients designated as Professional traders in the EU are quite competitive. AvaTrade is a trusted global brand best known for offering an extensive selection of trading platforms for forex and CFD traders, as well as exceptional educational content that helped it nab a Best in Class rating for Beginners for 2023. AvaTrade offers two live trading accounts (retail and professional) and a demo account. AvaTrade customers have access to several customizable trading platforms.
A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA). Yes, based on your avatrade review detected country of NL, you can open an account with this broker. Our testing found AvaTrade to be great for copy trading, competitive for mobile, and generally in line with the industry average for pricing and research.
