The beginning of Avatrade reaches 2006, Ireland. Since that time they have accumulated thousands of active traders. During all these 12 years Avatrade received a lot of influential awards. It has become Best Forex Broker in 2010, 2014 and 2016 by Forextraders, and many more.
Furthermore, Avatrade has a lot of regulators what makes it even more trusted. The full list of regulators are in the table below the whole text, but few solid names – Central Bank of Ireland, The Financial Futures Association of Japan, Financial Services Agency (Japan), etc.
Traders find hundreds of trading instruments from indices to bonds. Don’t forget forex of course. Users find NASDAQ 100, NIKKEI, Dow Jones, DAX, FTSE, and other top indices. Stocks of the biggest companies around the world are available for trading as well – Apple, Facebook, Google, Amazon, Deutsche Telekom, Siemens, Peugeot, Barclays, Vodafone, etc. In addition, Avatrade presented cryptocurrencies not so long ago. This market is really worth checking because of booming lately, and it’s open 24/7.
Minimum deposit starts from only 250 USD, EUR, GBP or other currency you select as the base for your account. And 500 USD/EUR/GBP/AUD for deposits made via bank transfer.
Avatrade presents different types of accounts – Micro and Mini, Standard, VIP and Islamic accounts. That means the broker welcomes all the users, no matter what size of deposit they want to make.
Let us move forward as we are going to cover more in-depth details about this broker in the Avatrade review.
Avatrade Fees and Spreads
Avatrade applies two types of spreads – variable (it’s called floating here) and fixed. It’s worth mentioning that floating spreads work with MT4 only. All the numbers are nicely covered on the broker page. There isn’t something concealed or slurred over. However, we recommend familiarizing with them deeper before opening a position as they can change from time to time.
On the other hand, Avatrade charges an inactivity fee after 3 consecutive months of non-use. An administration fee may be applied after 12 consecutive months of non-use as well. Funds are deducted from a trading account. But that’s a normal practice helping avoid fake or abandoned accounts.
Avatrade Trading Experience
Avatrade amazes with their clearness and transparency. Information about spreads and fees, also every trading asset is covered on an informational page. There are no hidden fees or charges.
Users can select from even several trading interfaces. Web Trader, advanced Avatrader GO application for both kind of devices – iOS and Android. Also, MetaTrader 4 which works on mobile phones, Windows, and MacOS. Besides all these applications and software, Avatrade offers trying AvaOptions which works on Windows or as a web application.
The broker has a lot of different trading instruments, so probably you don’t need to have many different accounts at various brokers in order to access all the assets you want to trade. It’s very convenient and saves a lot of time. In addition, as we said it before, Ava supports Bitcoin, Ethereum, Litecoin, Ripple, etc. while a lot of other huge brokers are still without these possessions implemented.
Insights, Informational Tools, and Education
The broker did a great job here as well. It is probably widest and perfectly filled up knowledge base compared to many competitors. Users see a really nice FAQ with explanations of the terms and most popular answers.
For an education, customers have a very long list of materials. New users can start with a well-prepared guide “Trading for beginners” where basic terms are explained. Also, there we see trading platforms comparison, various infographics, tradings styles and some tips and tricks on how to make a trading plan. The broker touches the topic of trading psychology as well.
Furthermore, Avatrade offers to watch several videos expanded in few categories. They generalize most important information relevant to trading and a trading experience on Ava itself.
Also, new traders should read an ebook about trading provided by the broker. The free information with a high value for your trading journey and the best experience.
Avatrade didn’t forget an option of demo account. That’s what we always recommend begin with – checking how an interface looks, what functions are available, is a platform easy to understand, etc. That helps to avoid further misunderstanding after real money gets into the game.
In addition, the broker provides many useful tools and information helping to decide what positions should be opened or closed. It starts with the analysis provided by experts, ends with an economic calendar which comprises routine financial events which affect the financial markets. The trading calculator is another useful tool as well.
Standards of Avatrade is very high on this point as well. They provide customers with Live Chat is available 24/5. Furthermore, their phone support is flawless. There are a long list of phone numbers for customers from most of the countries. A total number of countries where phone support works reach 37. Isn’t that great?
And finally, help desk where customers simply put down a question and get an answer to his email. Also, as we’ve mentioned before, the broker offers a very informative FAQ and knowledge base with tons of answers to traditional questions.
Conclusion. Is Avatrade legit?
To sum up, Avatrade is one of the best brokers available to this day. It’s superb because of a long list of trading assets and high level of clarity. Many brokers are a bit shady when talking about finances and their commissions. The broker lays under a lot of very liable regulators around the world. That adds an additional trustworthiness for it.
To add, Avatrade has offices in more than 10 countries including China, Japan, Australia (full list on the table). Rarely a broker has so much of representative offices, which definitely confirms that a broker is solid and should be trusted.
Furthermore, a wide selection of trading tools, software, and applications allow an easy and convenient trading wherever you are. That’s super important when trading cryptocurrencies, where a market is open 24/7 without any stops and interruptions.
However, remember that charges for an inactivity time apply within time. And some spreads sometimes can take a significant amount of your trade.
As you probably have noticed, we do not give any ratings for the brokers reviewed here, but we would give one of the best ratings for Avatrade. And if you considered is Avatrade legit and good, then the answer without any doubts is yes. It’s a smart choice for a new trader as well as for a very experienced trader, who could be called a wolf of Wall Street.
Attention: Terms, spreads, and information provided on this page may get outdated due to terms and rules changed by the broker. Please double check them before making a deposit and start using Avatrade.
|Excluded countries||USA, Canada, Belgium, North Korea, New Zealand, Turkey, Singapore|
|Languages||English, German, Spanish, French, Italian, Russian, Polish, Dutch, Portuguese, Finish, Turkish, Swedish, Mongolian, Arabian, Japanese, and Chinese|
|Licenses||Central Bank of Ireland - Number: C53877, ASIC License: 406684, South African Financial Services Board - FSP: 45984, Japan FSA Number: 1662 and the FFAJ - Number: 1574|
Avatrade South Africa
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