In this detailed AvaTrade Broker Review, we will review each aspect of the AvaTrade broker to see if this broker is a legit broker. Below is the summary of the AvaTrade Broker.
Summary
Assets Available | 7 Asset Classes - Forex, Crypto, Stocks, Commodities, Indices, ETFs, bonds. |
Regulated By | ASIC, FSCA, FSA, ADGM, FRSA, ISA, CySEC, CBI |
No. Of Trading Platforms | 8 Trading Platforms - TradingView, MT4, MT5, AvaOptions, AvaSocial, DupliTrade and ZuluTrade |
Leverage | Up to 1:400 |
Spreads | Around 0.9 for Majors |
Commission | 0% |
Min Deposit | $100 |
Demo Account | Yes |
Education Provided | Trading courses provided |
Methods of Payment | Credit/Debit Cards, Bank Wire Transfer, Neteller, Skrill, WebMoney, PayPal |
Open Account |
Broker Background
The AvaTrade Broker is a highly regulated broker that was founded in Dublin, Ireland in 2006. With a global client base of 400,000 generating over 2 million trades monthly, AvaTrade has experienced substantial growth.
Trading Platforms
The AvaTrade broker provides a range of trading platforms. These are WebTrader, AvaTrade Go, MetaTrader 4 & 5 and copy trading platforms such as AvaSocial, ZuluTrade and DupliTrade.
WebTrader
AvaTrade web trading platform is an award-winning trading platform. If you don’t want to download any trading software and want to trade on the web, this is a great platform to trade on.
MetaTrader 4
MetaTrader 4 is a great trading platform as well. It is very popular among traders forex traders. This trading platform is suitable for both beginner and advanced traders alike. MT4 provide all the tools necessary to analyse the market and execute trades.
MetaTrader 5
MetaTrader 5 is the successor to MetaTrader 4 trading platform. MetaTrader 5 provides you with a broader range of technical indicators. Like the MT4 trading platform, the MT5 trading platform also supports algorithmic trading.
AvaTrade Go
AvaTrade broker provides traders with a mobile trading application called the AvaTrade Go. It is available on both Android and IOS. This app is downloaded by more than 1 million users worldwide.
Copy Trading Platforms
In addition to the other trading platforms, the AvaTrade broker also provides copy trading platforms. There are 3 copy trading platforms provided by the AvaTrade broker. These are AvaSocial, DupliTrade and ZuluTrade. If you are interested in copy trading, the AvaTrade broker is a great broker for you.
Regulations
AvaTrade is a highly regulated broker that is regulated by 9 different Regulators across 8 different countries. AvaTrade broker is regulated by,
- Australian Securities and Investment Commission (ASIC)
- Central Bank of Ireland
- Financial Services Commission (British Virgin Islands)
- Financial Sector Conduct Authority (South Africa)
- Financial Services Agency (Japan)
- Financial Futures Association of Japan (FFAJ)
- Abu Dhabi Global Markets Financial Regulatory Services Authority (FRSA)
- Israel Securities Authority (ISA)
- Cyprus Securities and Exchange Commission (CySEC)
Instruments Available For Trading
AvaTrade provide traders with 7 asset classes, these are Forex, Stocks, Commodities, Indices, EFTs, Bonds and Cryptocurrencies. Among these asset classes, there are over 1000 instruments that you can trade.
Forex
AvaTrade offers an over 60 currency pairs that you can trade. These include the major forex pairs, minor forex pairs and exotic pairs. AvaTrade provides both manual and automated trading platforms to trade in the forex market.
Stocks
AvaTrade broker offers a range of stocks that you can trade. These include stocks such as APPLE, AMAZON, GOOGLE, etc.
Commodities
AvaTrade offers a range of commodities to trade with. These include, commodities like Gold, Silver and Crude Oil.
Indices
This broker offers a range of indices for trading. These include, US500, US30 and UK100.
EFTs
There are a range of EFTs that you can trade with the AvaTrade broker. These include EFTs like MSCI Brazil Index Fund and MSCI Australia Index Fund.
Bonds
There are two bonds that you can trade with this broker, these are EURO-BUND and JAPAN GOVT BOND.
Cryptocurrencies
AvaTrade offers a range of cryptocurrencies to trade with. These include the popular Bitcoin Gold, Bitcoin Cash, Ethereum, Ripple, NEO, Dash, Chainlink, Shiba Inu, Litecoin, Stellar, Miota, and more.
Account Types
The AvaTrade broker provides 3 main trading accounts. These are the retail trader account, the professional trader account and an Islamic account for Islamic traders.
Commissions And Spreads
The spreads depend on the instrument that you are trading. For the popular EUR/USD the spreads are 0.9 pips, for AUD/USD the spreads are 1.1 pips. The spreads are variable, this means these spreads can fluctuate depending on the market condition.
For stocks, the spreads are usually 0.13%. These spreads are average, not the lowest spreads out there.
Leverage Provided
This broker provides a leverage of up to 1:400 which is a pretty high leverage. Not the highest in the industry. Trading with high leverage is not generally recommended because it is risky.
Education Provided
AvaTrade provides great education for beginner traders. They have courses on technical analysis, stock trading, introduction to financial markets, basics of trading, fundamental analysis, and much more. The education provided is great for beginning traders.
Minimum Deposit
To start trading with the AvaTrade broker, you require a minimum deposit of $100. Compared to other brokers like FBS broker or the BlackBull markets, this is a high minimum deposit.
Awards
AvaTrade is an award-winning broker that has won a range of awards. They have won awards such as the most innovative broker 2023 and most trusted broker. Below is an image of a few awards won by the AvaTrade broker.
Methods Of Payment (Deposit & Withdrawal)
AvaTrade broker provides traders with a range of Deposit and Withdrawal Methods. These are Credit/Debit Cards, Bank Wire Transfer, Neteller, Skrill, WebMoney, PayPal and others.
Customer Service
The AvaTrade broker provides 24/5 customer support to traders. You can contact the AvaTrade customer support through email, phone and WhatsApp. There is also a chatbot provided by AvaTrade to answer commonly asked questions.
Is AvaTrade a Legit Broker?
AvaTrade is indeed a legit broker. This broker is highly regulated with multiple regulations across 8 different countries. The AvaTrade broker has also won awards for being a trusted broker. If you are interested in trading with the AvaTrade broker, click the button down below.
Conclusion
In this detailed AvaTrade broker review, we looked at each aspect of the AvaTrade broker. It was concluded that the AvaTrade broker is in fact a legit broker, regulated by 9 different regulators. The AvaTrade broker also provides traders with a range of trading platforms to suit every need, from mobile trading to PC trading to even copy trading.
