AvaTrade Review
AvaTrade is a broker that is quite well established with different features and a whole host of tradeable instruments. The broker also is regulated across different jurisdictions further solidifying its position. Read this Ava Trade Review to learn more about this broker.
Overview and Background Information
AvaTrade was founded in 2006. AvaTrade is a forex brokerage firm offering over 600 instruments for trading while allowing maximum leverage of 1:400. Ava Trade is a global partner of Manchester City. But seriously, it only means they only make a lot of money. Their trading website is available in more than 20 languages.
AvaTrade’s headquarters is in Ireland, where its regulator is the Central Bank of Ireland and is a member of the Investor Compensation Company DAC (ICCL), which provides eligible clients up to EUR 20000 of maximum reimbursement in the extraordinary event of their broker’s insolvency.
Summary
Regulation
AvaTrade is authorized by the Australian Securities & Investment Commission (ASIC), the Japanese Financial Services Authority (JFSA), and the Investment Industry Regulatory Organization of Canada (IIROC). AvaTrade is not publicly-traded and does not operate a bank.
More specifically, Ava Trade EU Ltd is regulated by the Central Bank of Ireland (No.C53877). AVA Trade Ltd is regulated by the B.V.I Financial Services Commission. AvaCapital Markets Australia Pty Ltd is regulated by the ASIC (No.406684). Ava Capital Markets Pty is regulated by the South African Financial Sector Conduct Authority (FSCA No.45984). AvaTrade Japan K.K. is regulated in Japan by the FSA (No.1662) and the FFAJ (No.1574). Ava Trade Middle East Ltd is regulated by the Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA) (No.190018).
Deposit and Withdrawals
Ava Trade offers multiple deposit and withdrawal options to ease their clients. The deposit options available at Ava Trade are bank cards, wire transfer, eWallets such as Skrill, Webmoney, and Neteller.
Withdrawals as per regulation can only be sent via the payment methods through which the account was funded. When using a card, you must withdraw up to 200% of your deposit to your credit or debit card before you can engage another method.
Trading Platform
Trading Platforms offered by AvaTrade include MT4, MT5, AvaOptions, AvaTradeGo, Mobile trading applications, and Web trading.
Ava Trade also offers a variety of automated trading platforms including Zulu Trade. They also offer DupliTrade for social/copy trading.
Fees (spreads/commission)
Traders with Ava Trade are mostly charged spread on the trades they take. Ava Trade also charges swap for holding positions open overnight. Other charges levied by the broker are maturity rollover, corporate actions such as dividends, rights issues mergers, acquisitions etc. on individual equities, and inactivity fee charged after three consecutive months of non-use.
Execution
Ava Trade is a market maker. As a result of this there may be conflict of interest between the client and the broker.
Customer Support
Although Ava trade has multilingual support with 10+ languages supported, there have been reports that their customer service is poor. You can try to reach their support through email, phone, and live chat. AvaTrade is also present on social media platforms such as Facebook and Twitter. Their live chat support is available 24/5 which is industry standard.
Account types
Types of accounts offered by Ava Trade are Demo accounts for practicing trading and Real accounts for trading the live forex market. The minimum initial deposit for Ava Trade is $100.
The broker also offers copy trade accounts for those who are interested.
Instruments
Instruments available for trading at Ava Trade include currency pairs, CFDs and copy trading options for investors. Ava Trade offers a total of 60 forex pairs and 681 CFDs consisting of precious metals, commodities, indices, stocks, and cryptocurrency for trading. Ava Trade also offers vanilla options trading.
Other instruments available for trading are individual equities, bonds, and ETFs. Cryptocurrency trading is available 24/7.
Education and Research
Ava Trade offers different educational materials for their clients, examples of which are tutorial videos and ebooks on forex strategies. Ava Trade also offers daily market analysis alongside webinars to help their traders of all levels.
Promotion
Ava trade offers no promotions or bonuses.
Final Words
In summary, Ava Trade is one of the borkers with a wide range of trading instruments to choose from. This they do whilst still providing a good brokerage service.
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