AVATRADE REVIEW 2023: SHOULD YOU SIGN UP WITH THIS BROKER?

In 2006, AvaTrade began its journey as AvaFX. The company was the first forex broker that came out of Ireland. Over the years that followed, the broker obtained several regulatory licenses and expanded its business.

It became popular for its social trading and overall trading conditions. There’s a reason it has over 300,000 customers worldwide. AvaTrade was one of the first forex brokers to provide CFD trading on stocks, commodities, and other assets.

AvaTrade homepage

The broker kept innovating, introducing several features you can’t find elsewhere. Tools like AvaProtect, and Guardian Angel, are just a few examples.

Fun fact: AvaTrade is an official trading partner of Manchester City FC. It has also signed Usain Bolt as its brand ambassador. The firm earned several awards in 2022, including

• Best Mobile Trading Platform UAE
• Most Trusted Trading Platform
• Most Innovative CFD Broker
• Best Educational Broker

The broker is available in more than 150 countries. However, I’m sorry to tell you that you can’t open an account if you are from the US, Cuba, Iran, Syria, Belgium, or New Zealand. You can check the complete list through the broker’s website.

WHO ARE AVATRADE’S REGULATORS?

AvaTrade has a long history, as we learned in the previous section. So, what about its regulators? You’ll be glad to know that AvaTrade has several of them. Let’s see who they are!

AvaTrade has different entities, which are regulated by the respective regulatory body. It’s good that the broker has a separate page for regulators, and you can find it instantly on the homepage. Here’s a complete list:

Central Bank of Ireland

Polish Financial Supervision Authority

ASIC (Australian Securities and Investments Commission)

BVIFSC (British Virgin Islands Financial Services Commission)

FSA (Financial Services Agency Japan)

FFAJ (Financial Futures Association of Japan)

FSCA (Financial Sector Conduct Authority, South Africa)

ADGM (Abu Dhabi Global Market)

FSRA (Financial Services Regulatory Authority)

ISA (Israel Securities Authority)

International clients come under the BVIFSC regulations. The Australian clients come under the ASIC, and the European users come under the Central Bank of Ireland and the Polish Financial Supervision Authority. All other users come under their respective regulatory bodies.

AvaTrade regulators 

HOW DOES AVATRADE WORK?

We saw the regulators in the previous section. But what about the trading assets? What can you trade on AvaTrade? Let’s find out! AvaTrade provides plenty of tradable assets across seven categories. It offers more than 1,000 tradable assets. Let’s find out all the assets available.

Forex

• EUR/USD
• GBP/USD
• AUD/USD
• USD/JPY
• USD/CAD, and more

Stocks

• Apple
• Amazon
• Netflix
• Tesla
• NVIDIA, and more

Indices 

• NIFTY 50
• VIX

Metals 

• Gold
• Silver
• Platinum
• Copper
• Palladium

Commodities

• Energies
• Agriculture

 Cryptos

• Bitcoin
• Ethereum
• Dogecoin
• Litecoin
• Stellar and more

Bonds and Treasuries 

• Euro-bund
• Japanese Government Bond

ETFs

• Dow Jones Real Estate Index Fund
• Energy Select Sector

Spreads on major forex pairs, such as the EUR/USD and GBP/USD, begin at 0.9 pips.

HOW DOES THE AVATRADE PLATFORM WORK?

To trade all these assets, you need a platform. As I mentioned earlier, AvaTrade is popular for its social trading. So, it provides plenty of platforms to try social trading. Let’s see what platforms the broker provides. AvaTrade offers five trading platforms. They are

• WebTrader
• MT4
• MT5
• AvaTradeGO,
• AvaOptions

Let’s talk about all of them.

WEB TRADER

Web Trader is AvaTrade’s native platform and provides all the features you need as a trader. You can access a wide range of research tools and indicators and multiple timeframes. For technical insight and quick pattern detection, you can use Trading Central, which is integrated with the platform. I like the overall interface of the platform, and it is super customizable also.

WebTrader

AvaProtect

With Web Trader, you can have an excellent tool like AvaProtect. The one-of-a-kind risk management function allows you to cover a single trade against losses of up to one million dollars.

MT4

Since its inception in 2002, MT4 has become the industry standard in online trading. AvaTrade MT4 allows features like

• One-click trading
• 9 time frames
• 3 charts
• 30 built-in indicators
• 24 graphical objects
• Guaranteed full data backup and security
• EA functionality
• 4 pending order types
• Trade history information, and much more

MT4 platform

MT5

The MetaTrader 5 is the successor of MT4 and provides more robust features than its predecessor. Some of the features of AvaTrade’s MT5 include

• 12 time frames
• 38 built-in technical indicators
• 1 single login across all your trading platforms
• Multi-threaded strategy tester

MT5 platform

Guardian Angel

The Guardian Angel from AvaTrade serves as a risk-management tool for MT4 and MT5. It provides immediate feedback on your trading activities, allowing you to improve your decision-making process.

AvaTradeGO

AvaTradeGO is a mobile platform that is similar to WebTrader. Market Trends is an exclusive feature of AvaTradeGO. It allows you to watch current market trends from AvaTrade’s community and execute trades based on these moves.

AvaTradeGO

AvaOptions

AvaOptions is a forex options platform specially designed for pro traders. AvaOptions has a comprehensive set of professional risk management tools, portfolio simulations, and other features. Besides, it is super customizable and comes with drag-and-drop features.

AvaOptions platform

Automated Trading Platforms

Automated platforms are one of the reasons many people choose AvaTrade. You can copy the trades of other, sometimes more experienced traders using automated trading platforms. It allows you to automate your trading and trade even if you are a complete newbie. There are three automated platforms

DupliTrade

DupliTrade is an MT4-compatible tool that allows you to automatically follow the signals and strategies of more experienced traders in real time.

ZuluTrade

ZuluTrade automatically takes professional traders’ trades and performs trades in your AvaTrade account.

AvaSocial

AvaSocial is all about social trading among members of the AvaTrade community. The social trading app cuts the learning curve in half.

WHAT TRADING INDICATORS ARE AVAILABLE?

As an active trader, technical trading is super important. So, for technical trading, we need technical indicators. AvaTrade offers plenty of trading indicators across all platforms. Some of the available indicators are

• MACD
• Moving Averages
• RSI
• Bollinger Bands
• VWAP, and many more

AvaTrade provides four account types

• Retail
• Professional
• Islamic,
• MAM

Let’s compare every account type.

1. RETAIL ACCOUNT 

The retail account is the basic account you can get at AvaTrade. There is a $100 minimum deposit, and you can have a maximum leverage of 1:400. A fixed spread starts from 0.9 pips.

2. PROFESSIONAL ACCOUNT 

The professional account is only available for EU clients. To be eligible, you need to meet the following requirements:

• Sufficient trading activity in the last 12 months
• Relevant experience in the financial services sector
• Financial instrument portfolio of over €500,000 (including cash savings and financial instruments)

Even if you meet two of the following requirements, you can open the account.

AvaTrade account types

3. ISLAMIC ACCOUNT

The swap-free or Islamic account offers zero swap rates. It follows the principles of Islam. To open the account, you need to contact the support team first.

4. MAM

The MAM account allows you to manage multiple trading accounts. MAM, aka Multi-Account Manager, allows fund managers to trade on behalf of clients for a percentage of the earnings.

DOES AVATRADE OFFER A DEMO ACCOUNT?

If you aren’t ready for live accounts, you need to open a paper trading/demo account. Yes, AvaTrade does provide a demo account.

In addition to multiple regulators, AvaTrade provides safety in multiple ways. Here’s what the broker does for safety

• 256-bit SSL encryption across the entire website
• Embedded True-Site identity assurance seal
• AvaTrade is WebTrust compliant, as determined by the American Institute of Certified Public Accountants
• AvaTrade uses McAfee Secure (HackerSafe) to prevent credit card fraud and identity theft
• All client money is segregated from AvaTrade business funds.

So, it’s safe to say the broker is safe. Other highly regulated brokers include Exante and Interactive Brokers.

AvaTrade’s headquarters is at 2 Dublin Landings, North Wall Quay,
North Dock Dublin 1, Dublin, Ireland, DO1 V4A3. The broker also has offices in

• Australia
• Chile
• Malaysia
• Italy
• Mexico
• Japan
• Mongolia
• Poland
• South Africa
• Abu Dhabi

WHO OWNS AVATRADE?

We got to know the location of the broker. Now, let’s move to ownership. Does AvaTrade work on its own? Let’s find out! Negev Shekel Nosatzki and Emanuel Kronitz are the owners of AvaTrade.

The deposit methods available at AvaTrade are

• Credit/Debit Cards
• E-payments (Skrill, WebMoney, and others),
• Wire Transfers.

Depositing through your card is instant. A wire transfer can take seven business days, while third-party apps’ payment methods can take 24 hours.

HOW TO WITHDRAW FUNDS FROM YOUR AVATRADE ACCOUNT

Are AvaTrade’s withdrawal methods the same as the deposit methods? Does the broker take time to process withdrawals? I’ll answer these questions here. Let’s find out more.

AvaTrade has the same withdrawal methods as for deposits. However, it takes time. If AvaTrade has completed the account verification procedure, it takes 24-48 hours to execute a withdrawal request.

There are several ways to contact the broker. You can

• Call
• Chat
• Email
• WhatsApp

Also, they have an FAQ page where you can find answers to your questions. You can also contact them through social media.

AvaTrade contact page

AvaTrade offers promos through its AvaPartner program. There are three types of partnerships the broker offers

• Introducing brokers (IBs)
• Referring a friend
• Flexible White Label
• Tied Agent
• Business Partner
• Online Affiliate Manager,
• Trading Academy.

Each program has specific requirements, and you should check them before signing up.

DOES AVATRADE OFFER BONUSES?

AvaTrade provides you with a good bonus. I was excited to see how much the broker pays. I tried it, and it was worth it. Let me tell you more.

AvaTrade provides a first deposit bonus. The bonus depends on your initial deposit. For instance, if you deposit $500, you’ll get a bonus of $100.

DOES AVATRADE CHARGE TAX ON PROFITS?

You make a lot of money; what about taxes? Will AvaTrade take a cut of your profits? Do they give accurate tax information? I’ll address these questions here.

AvaTrade provides tax info for UK, Canadian, and Australian clients. You can find all the info here.

AvaTrade has been around for quite some time, and I joined the broker in 2018. The reason for joining the broker was its social trading. I heard a lot about it, so I wanted to try it. And I wasn’t disappointed.

It proved to be a great social trading broker for my trading. However, social trading isn’t the only notable feature the broker offers. The trading platforms, low spreads, multiple assets, and customer support make AvaTrade a good choice. Let’s see what others have to say:

Is AvaTrade legal? 

Yes, it is! The broker is regulated by many reputable regulatory bodies. Also, they focus on protecting money and information as part of their regulatory compliance.

Is AvaTrade good for beginners?

Yes, it is! AvaTrade provides great trading conditions for all types of traders. The low spreads, multiple platforms, and many assets are perfect for beginners.

Is AvaTrade halal?

AvaTrade offers Islamic accounts to any trader who desires to follow Sharia law and trade in a halal manner.

FINAL THOUGHTS

There you have it! We found everything we could about the broker. AvaTrade shines in platforms, assets, regulations, and trading fees. However, it lacks multiple trading accounts and isn’t available in the US.

So, I would give it a 4.2/5. I hope this review was informative and time-saving for you. If you are looking for forex brokers other than AvaTrade, you can check the complete list of brokers here.

Visit »