AvaTrade Review – A Reliable Regulated Broker for Crypto Trading

AvaTrade Review

Established in 2006, AvaTrade has become a well-recognized name in online trading. The values of the broker are uncompromising self-evaluation, fairness and integrity, constant innovation and customer service. AvaTrade aims to offer adaptable trading platforms that appeal to traders of all skill levels. There are more than 200,000 registered clients on AvaTrade and 2 million trades are conducted on a monthly basis. The trading volume for a month is around £60 billion and this figure continues to grow. There are a range of platform options that traders can find at AvaTrade and it offers multi-lingual support round-the-clock.

The administrative headquarters of this crypto broker are located in Dublin, Ireland. AvaTrade also has its sales centers in Dublin, Milan, Beijing, Turkey, Johannesburg, Madrid, Nigeria, Tokyo, Santiago, Sydney, Mongolia and Paris. AvaTrade is regulated in Australia, South Africa, the British Virgin Islands and Europe. Different versions of AvaTrade can be found in most countries and each have their own regulations. The fact that the broker is regulated in so many jurisdictions provides investors with confidence all around the world. After all, it means that there are several organizations ensuring that the broker complies with necessary regulations.

Trading Instruments

With AvaTrade, clients can take advantage of trading cryptocurrency, stock indices, exchange-traded funds (ETFs), forex, bonds, options, commodities and individual equities. When it comes to options, European-style puts and calls that are also called ‘vanilla’ options are offered by AvaTrade on silver, gold and more than 50 currency pairs. Since they are cash settled, they close automatically when they expire at intrinsic value. Certain forex pairs that are offered at AvaTrade have a leverage of 30:1. Cryptocurrency trading has also been introduced by AvaTrade.

Opening an Account

In order to open an account on AvaTrade, you need to fill out the form provided on the website. One of the steps include verifying your personal information after which the account has to be funded and trading can begin. Bear in mind that once you set up your account, it is not possible to change its base currency. However, another account with a different base currency can be added in the future. Options in base currency include USD, AUD, EUR and GBP. The documents that are needed for verification include a valid ID document issued by the government like your passport, driver’s license or ID card. A utility bill should also be submitted for address verification.

Opening Bonuses

While they may not always be available, occasionally, AvaTrade offers welcome bonuses to its clients. If you haven’t received a bonus, your account manager can inform you if you are eligible for one. Some bonuses include meeting minimum deposit requirements while other bonuses require you to reach a certain trading volume in the first few months of trading to get a bonus. It should also be remembered that a bonus can only be withdrawn when you have a minimum trading volume of 10,000 in your base currency.

Islamic Account

Islamic accounts are also offered by AvaTrade and they follow management principles based on the Islamic Sharia law. Therefore, cryptocurrency trading and some forex currency pairs are not available with this account. In addition, the account also has high spreads for FX pairs.

Demo Account

One of the most notable features of AvaTrade is that the broker offers its clients a demo account. This option is provided to help traders in getting a feel for this platform. It is also a great way of honing your skills and determining your trading style and ideal instruments. Real time market prices and even real-time market conditions are mirrored in the demo account offered by AvaTrade. The demo account is only available for 21 days, but it can be extended by getting in touch with customer support or the account manager.

Professional Account

You can also sign up for a professional account on AvaTrade and it allows you to get pre-ESMA leverage up to 25:1 on some cryptocurrencies and 400:1 for some forex currency pairs. In order to be eligible for a professional account, you have to have a financial investment portfolio higher than £500,000, which includes cash and financial instruments, relevant experience of at least one year in the financial services sector and have significant sized transactions at least 10 times in a quarter for four quarters.

Deposits

A minimum deposit of 100 units in the base currency of your choice is required for opening an account on AvaTrade. With that said, the broker recommends that you start with a balance of 1,000 to 2,000 units in your base currency. You can choose from one of the several deposit methods that are offered by AvaTrade, which include wire transfers, credit cards and e-payments. The availability of deposit methods vary as per your location as well. E-payment options are not available for traders in the EU or Australia while credit card is not offered to Canadian clients. Other customers can use e-payment options like Webmoney, Skrill and Neteller for making deposits.

As for the amount of time it takes for the deposit to be processed, it depends on the method you select. In most cases, deposits via debit or credit card are instantly deposited. Wire transfers can take up to 7 days and e-payments are credited within 24 hours.

Withdrawals

Your account needs to be verified in order to make a withdrawal from it. You can fill out the online form and your request is processed in 24 hours. Anti-money laundering regulations are also followed by AvaTrade, which means you need to use the same method for withdrawing your funds that you used for depositing them. Similar to deposits, the time taken for withdrawals to be processed will depend on the method you use. In most cases, it takes two to three days for them to be processed and sent. If you are going with electronic options, it will take at least 24 hours, wire transfer withdrawals will take up to 10 days whereas credit and debit card withdrawals taken five business days.

Fees

Since AvaTrade is a market maker, this allows the broker to offer some of the most competitive spreads in the market. No commission is charged for trades in most cases as AvaTrade makes its profits from spreads. Traders are given the option of choosing between floating or variable spreads and fixed spreads as per their preference. Over the years, AvaTrade has worked on offering better spreads to its clientele. One thing to be noted is that an inactivity fee is charged by AvaTrade worth 50 units in the account’s base currency if the account stays inactive for three months or more. An administration fee of 100 units in the base currency is also charged after 12 months of inactivity.

Trading Platform

The aim of AvaTrade is to make trading as accessible as possible due to which it offers an extensive list of platforms to its clients. These days, you have the option of trading through the web, via a download or on your mobile app. AvaTradeGO is available for both iOS and Android devices and it enables you to manage several MT4 accounts, use your demo account and more, all through a simple and intuitive application. It is fully featured so you can do the same thing through your phone that you do with your computer. In addition, the popular trading platform MetaTrader, including the MetaTrader4, is also supported by AvaTrade.

Auto trading is also supported by AvaTrade on MetaTrader4 via ZuluTrade. The Ava AutoTrader system can also be used by investors, which allows for algorithmic trading. The various APIs can also be used for creating your own automation solution for forex trading. Last, but not the least, AvaOptions is also offered by the broker, which focuses on trading FX options when using limit orders. MetaTrader 4 can be used by traders via their web browser, on their desktop and your mobile device.

Website

The AvaTrade website is very straightforward and can be used with ease as all information is laid out properly. Even if you cannot find anything, there is a convenient search bar that can be used to find what you are looking for. You can also change the language of the website as per your preference. There are 27 languages to choose from, which makes it easy for people all over the world to use AvaTrade for online trading. The website will automatically detect the country you are in and will show you the support number on the top right of the page.

Expert Advisors

You have the option of using Expert Advisors along with your AvaTrade account. These can be purchased or self-developed. Expert Advisors (EAs) are basically programs that allow users to enjoy hands-free trading like automated trading using MetaTrader4.

Tools

There are multiple trading tools that AvaTrade offers to its clients, which can be incredibly useful during the trading process. AutoChartist is one of the tools that’s available on the platform and it uses MetaTrader 4. This particular tool automatically identifies the different trading opportunities available by constantly scanning the intraday markets. It highlights the most prominent trading opportunities through the help of its sophisticated recognition engines. The tool is also handy for predicting how price movements are experienced by financial instruments. Key level analysis, chart pattern recognition, pattern quality indicator and Fibonacci pattern recognition are some crucial features of AutoChartist.

Other tools that are available include a useful trading position calculator that can be used for determining potential profits and losses and costs before you start trading. The calculator can also be beneficial for determining the margin requirements, spread, swaps and your position in the market.

Education

A range of educational resources are offered by AvaTrade that can be useful for traders in honing their trading skills or even developing new ones. There is a complete section that’s dedicated to trading for beginners and you can find complete explanations for economic indicators, a range of trading video tutorials and a forex e-book. Every single section is extensive and detailed. There is also a section available on Analysis. Here, traders can learn more about technical and fundamental analysis, both of which are immensely useful skills for traders. Each of these are defined in the education section. A comparison is also available along with information about what type of analysis should be performed and when. There is also a description of trends you should look for in the technical analysis section.

Customer Support

No matter what page you open on the AvaTrade website, there is a button for Live Chat that can also be accessed from your account. Next to the live chat button, a phone number for customer support is also provided as per your location, but you can also change your country if you wish. Traders also have the option of visiting the ‘About’ section of the website where they will find the ‘Contact Us’ option. Opening this option will take you to an online form where you can send an email or you can find phone numbers for multiple countries listed there.

Professionalism is high at AvaTrade when it comes to answering complicated questions via customer support. Responses are also quick so you don’t have to wait long to get an answer to your problem. There is also a detailed Help Center page at AvaTrade, where you can find FAQs divided into different sections for your ease. You can find answers to common questions and reach out to customer support if you have a unique problem.

Conclusion

For more than a decade, AvaTrade has been helping traders all over the world complete investments and it also offers a great range of instruments. The selection of platforms offered by the broker helps all kinds of traders in finding what they need. In addition, the regulation of the broker in different areas is also a boost to the confidence. Customer support is also up to the mark and the tools available can make trading a whole lot easier for all traders, regardless of their skillset.

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