AvaTrade is one of the largest brokerage firms in the entire European Union. It is one of the forerunners of the forex arena as we know it today. Formerly known as Ava FX, they are very popular to forex traders. They are not just into forex, they also offer over 200 commodities, indices, stocks, as well as over 50 currency pairs. Ava Trade has a massive selection of trading platforms. The most important thing to note about Ava Trade is not only their operational history that dates back to 2006, but the fact that they are regulated across the globe, so they can offer trading to people in Australia, through their ASIC license, across Europe through their Cysec license, and so on. AvaTrade's headquarter is in Ireland.
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Their customer support is available in a variety of languages 24 hours a day. Perhaps the most important thing to note about Ava in this day and age is the level of confidence and security that the company brings to you as your preferred forex broker.
Something that Ava trade is very good at is in providing resources to traders though AutoChartist (professional charting), Market Analysis, Fundamental Analysis, and technical Live Market News, meaning you don’t need to go to other news websites to find out how various markets are doing because it does it all on site. There’s also audio commentary, economic calendar, videos, webinars, and so much more.
Looking at the benefits you can enjoy by trading with Ava Trade, there are two main account types and these are either a real account or a demo account, which allows you trade a virtual $100,000 in order to practice trading and to try out their products and services.
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Trading Platforms
Trading can be done with several trading platforms and there are two main platforms, AVATrader and Meta Trader 4.
AVATrader is a single click trading system for forex, commodities, indices, equities, etc. This professional grade trading platform is suitable for both beginner and expert traders. Traders can watch their markets, use their own analysis, and then execute CFD and Forex trades right from their desktop computers or laptops.
The Meta Trader 4 is the other main platform offered by Ava Trade, which is proven to be powerful and flexible. Both of these platforms are available for mobile trading on iPhone, Android, and Windows phones.
The other trading platforms available are MT4 Floating Spreads, AVA Options (a combination of FX options and FX spot trading), Automated Trading, trading for Mac, trading for the web, and mobile trading as well.
The UI or User Interface
You can right-click on the chart settings to change the colors and display. There’s also a settings button on the upper left-hand corner that allows you to change some settings about the platform and customize. There are different layouts you can have on the platform by selecting the tabs: Fundamental Analysis, Charts, Video Tutorials, Reports, etc. The charts are generally clear, quite crisp and simple to use.
Account Opening Bonuses
You can open a live trading account with AvaTrade and get up to $10,000 bonus on your first deposit (new client only). For example, when you deposit $1000, you get $200 bonus. That is not money that you can withdraw, but the money that you can trade with. What that means is that, let’s say you put on a few trades and you lost $200, you will actually still be able to withdraw your full $1000.
Pros
They have a wide range of Forex, CFDs and currency pairs. If you click on the instrument catalogue on their UI, you’ll see that they have all these folders: FX, CFDs, Stocks Indices, Commodities, Bonds and Individual shares. Inside the CFD folder are the currency pairs the broker offers; it is a wide range of currency pairs with bitcoin included. Another good reason why Ava Trade can be ideal to have an account with is that they offer a wide variety of trading platforms. They have the AVA trader desktop, the AVA trader web-based platform, META TRADER 4, and they have other platforms too.
Some of the things that you’ll like about AvaTrade include the features that they offer on their platforms. On top of the UI is the ActFX, which helps you develop trading strategies. The FXApps has videos you can watch, indicators you can download, and strategies that you can try and learn about.
Finally, AvaTrade has a huge bonus program for new client (up to $10000).
Cons
One problem with Ava Trade is when you open an account with them, the person that will talk to you to check your details and make your account available is using a mobile phone. This would suggest that the person is not based in their office. It could be outsourced or something similar, which also suggests an impersonal customer service.
Lack of learning programs.
The Verdict
AvaTrade is the best choice for advanced traders who expect more from a broker that has platforms built for beginners. Beginners will be more than glad to have found this broker because of the intuitive and the easy-to-use interface, and the small initial deposit requirement.
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