AvaTrade or originally AvaFX is based in Dublin, Ireland in 2006. One of the rare big financial companies to come out of Ireland, AvaTrade has established itself in the world of Forex. A true multinational company, AvaTrade Is currently spreading its reach by opening offices in eleven countries and counting.
AvaTrade is a preferred choice for traders who want to have many options available in offerings from their brokers. Serving over 210,000 accounts and over 2.2 million transactions does inspire trust as well. AvaTrade has over $60 billion USD in total market value.
Regulations and Security
Since, AvaTrade is headquartered in Dublin, they are regulated by the Central Bank of Ireland. AvaTrade however is located in 11 counties, so they are also regulated by: Australian Securities & Investments (ASIC), Financial Services Agency – Japan, Financial Services Board (FSB) – South Africa and Financial Securities Commission of British Virgin Islands.
Spreads, Commissions and Leverages
AvaTrade offers fixed and floating spreads, which have become more competitive with each passing year. A “spread” is the difference between the asking and the bidding price. Currently the fixed spread for EUR/USD sits at 1.3 pips and floating spread is at 1.9 pips. These rates are in par with top competitors in their market.
Commissions offered by AvaTrade are at industry standard and are deducted with opening and closing of the relevant position.
Trading on a leverage or on a margin is one of the biggest draws of Forex trading. AvaTrade has a maximum leverage of 1:400. This is one of the better offerings in the Forex broker market.
With AvaTrade, you can deposit money into your account from with wire transfers, credit/debit cards and e-wallets (PayPal, Skrill, WebMoney and Neteller). Wire transfers can take up to three days while the other options are processed almost instantly.
AvaTrade recently introduced an Ava Debit MasterCard, allowing you to use this card linked to your AvaTrade account like any bank debit card. This is one of the better and faster options for getting your money out of your AvaTrade account and into your wallet or savings. You can also use the same options listed for deposits. It is worth mentioning, the processing of the withdrawals can take up to 5 days.
AvaTrade offers four main account types for traders, a Demo Account, Standard Live Account, Islamic Account, and Multi-Account Manager Account. The demo account provided has become one of the standards in the industry. Letting you practice trading Forex and CFDs with fictional trades you make with a predetermined amount of virtual money.
When you become familiar with the AvaTrade system and market, you need to make a minimum deposit of $100 USD to activate your standard live account. With this account you gain access to countless charting tools and features AvaTrade has in store. With your standard account, you will only need to choose the platform that suits you best and you are good to go.
AvaTrade has an extensive list of trading platforms available to their users.
- MetaTrader 4
- MetaTrader for Web Trading
- MetaTrader for Mac
- MetaTrader for floating spreads
- Proprietary AvaTradeAct Platform
- Automated Trading Platforms:
- API Trading
- MQL5 Signal Service
- Mirror Trader
Each platform listed above offers something different for each traders’ strategy,
preferences, capital, and time restraints. Automatic trading platforms are especially useful for first timers who might need a little help finding the right trades.