How Does AVATrade Compare To Other Brokers? Read Our AVATrade Review To Learn More!
AVA Financial Ltd., the company that owns AVATrade, has been enjoying phenomenal success in the Forex markets, having gone from strength to strength since the company began its operations in 2006. With more than a decade’s worth of experience, AVAFinancial has grown into a brokerage powerhouse that is responsible for nearly $60 billion in FX transactions through clients from different parts of the world. AVATrade is one of the very few brokers in the industry that has a proven track record of reliable service offerings, which are backed by strong financials that sees the parent company holding at least $17 billion in operating capital across different entities.
AVATrade has been racking up numerous awards since its inception and has consistently won the ‘Best Forex Broker’ awards from several independent agencies. AVATrade has one of the best customer service departments that offer support in more than 12 languages. Clients can approach the customer support channels through live chat, email, web contact form, and a live phone number, which ensures that traders can access the support team 24 hours a day, throughout a trading week. To learn more about the broker’s services and account specifications, read our comprehensive AVATrade review.
AVATrade Forex Broker Regulation & Its Branches
AVATrade provides its services to traders from 150 different countries, but for those of you who must know, AVATrade does not have any presence in the US. The absence of a physical office in the United States and the lack of any regulatory clearances from the CFTC or the NFA prevent the company from entertaining traders from the US. However, the broker has set up different AVATrade establishments in the European Union, Central America, Asia-Pacific, and Africa.
AVATrade’s European office is located in Ireland, which is regulated by the Central Bank of Ireland. Ireland is a part of the European Union, and the Central Bank of Ireland comes under the direct supervision of the European Central Bank and the MiFID derivatives, which are responsible for creating a uniform regulatory code of conduct for financial firms operating in the EU. All European countries that are members of the EU are required to conform to the European Economic Area (EEA) Agreement, which allows free trade and cross-border sharing of resources. Under the EEA initiative, European Forex brokers are free to offer their services to any member nation of the EU without any individual regulatory licenses. However, all brokers are also required to adhere to the stringent EU guidelines that are designed to prevent any instances of financial scams or consumer abuse.
AVATrade has other offices situated in Australia, the British Virgin Islands, Japan, and South Africa. Therefore, AVATrade is also regulated by the ASIC, the BVIFSC, the FSA, and the FSB, which provides further credibility to the broker’s service offerings. The broker is slated to increase its presence in other countries, which will further enable the company to expand its reach and exposure in new markets. We would like AVATrade to set up an office in the USA and become regulated by the CFTC and NFA, which will help in increasing the trust among traders exponentially.
Which AVATrade Account Should I Choose?
AVATrade offers only a single type of trading account that can be opened with a minimum deposit of $250. The broker has previously offered additional types of account according to different deposit requirements, but the company has chosen to simplify their account packages to make it easy for their clients. The broker allows traders to start trading with a minimum of .01 lots, which can be used with a maximum AVATrade leverage of 1:400. One of the most important aspects of an AVATrade account is that it is based on a market maker protocol, which is significantly different from an ECN account. Due to the immense amount of liquidity available to AVATrade, the broker is able to act as a liquidity provider, but there is still a small percentage of conflict of interest for larger traders. Nevertheless, an AVATrade account should provide plenty of trading opportunities for smaller retail traders.
AVATrade spreads start from 3 pips, which is incredibly expensive when compared to other market maker brokers. The lack of an ECN account further complicates things for larger traders, in particular for those who seek Direct Market Access conditions with tight spreads and fast executions. Traders can make a deposit through different payment options, namely wire transfer, credit/debit cards, and other online payment processors such as Skrill and Neteller. The broker promises instant deposit minus the fee of transactions, but withdrawals can take a long time. AVATrade specifies a minimum of 5 days for initiating withdrawals, which is way too long than other regulated brokers in the market.
- Website: www.avatrade.com
- Support: +1-212-941-9609
- Leverage: 400:1
- Min. Deposit: 250 USD
- Spreads: Fixed & Floating
- Up to 400:1 leverage
- +250 instruments
- Fixed & Floating Spreads
- Over 10 years in business
- Demo account valid for 21 days only
- No US clients
- Long withdrawal process
Trading On AVATrade Demo Account
AVATrade demo account offers the same conditions and trading environment as a real account, especially since market maker accounts have different conditions than its ECN counterparts. Even though AVATrade offers the option of trading with a small trading capital, it is crucial for traders to get to grips with the FX markets through a dedicated demo account. Sometimes, trading on a demo account can make all the difference between succeeding and failing in the markets. Therefore, always sign up for a demo account before choosing to make your initial investment.
Automated & Manual Trading On AVATrade Platform
AVATrade supports both manual and automated FX trading through two different trading platform options. AVATrade clients can either choose the proprietary AVATrader platform for their trading needs or choose the tried and tested MT4 terminal for investing in the Forex markets. Both versions of the trading platforms are available as AVATrade mobile apps for Android and iOS devices. There is also a dedicated AVATrade app for binary options online trading, known as the AVAOptions, which offers both FX spot trading, as well as FX binary options online trading.
The AVATrader is designed to provide a customized and graphically advanced interface for AVATrade clients that do not wish to trade on the MT4 platform. All platforms are connected to excellent high-speed trading servers that are connected to a global server pool for matching orders through AVATrade’s proprietary automated dealing desk protocols. The MT4 trader and the AVAtrader are compatible with Windows and Mac operating systems through dedicated installable platforms or the WebTrader, thereby enabling clients to access their trading accounts from any device of their choice.
You can also use automated trading strategies by using MirrorTrader or ZuluTrade, which helps you to follow other successful traders and replicate their success. The MT4 also allows you to install Expert Advisors (EAs) for using automated trading bots that can take over your trading accounts. AVATrade has indeed covered a significant majority of the retail trading market by offering the best services according to their clients’ requirements.
For a market maker broker, AVATrade is certainly one of the best companies in the market. They also provide consistent trading products that are reliable for most traders. Unfortunately, the broker does not provide any AVATrade bonus, unless the company initiates any seasonal promotions, which might offer deposit bonuses or electronic gifts as rewards to its existing and new traders. As a trader, you will be satisfied with the broker’s services for the most part.
- AvaTrade Review
- Country: Ireland
- Regulations: CBI, ASIC, FSA
- Up to $15,000