AvaTrade is one of the world-renowned brokers with an innovative trading platform for online trading. Founded in 2008 in Ireland, the broker offers forex and CFD trading services on a user-friendly platform.
Our professional researchers tested AvaTrade’s offerings and prepared this article to help provide information about what sets this platform apart from others. This is so that you can have an in-depth understanding of AvaTrade and what to expect from a top-tier online broker. You can read more about the test here, but first, let’s dive straight into AvaTrade’s review.
What to Look for in a Top Online Trading Platform
Many traders look for a broker they can trust, and AvaTrade excels in this category. It is regulated across various jurisdiction areas, including the UK, Australia, and the European Union. What’s more, the broker has a trading app known as AvaTradeGO that is compatible with Android and iOS mobile devices. Its performance has earned the broker high ratings from users on Google Play and the Apple Store.
AvaTrade offers over 1200 trading securities. Besides forex, you get to trade CFD instruments, including shares, cryptocurrencies, commodities, ETFs, etc. All you need to get started is a minimum deposit of $100 per the broker’s requirements. Deposits and withdrawals are free of charge.
Regarding learning resources, AvaTrade hosts plenty of content, from articles to guides. You can also benefit from tutorials, webinars, and seminars. In addition, AvaTrade has a social trading platform known as AvaSocial, where you get to meet like-minded traders and share ideas to develop your skills further. On top of that, traders get to follow expert traders and mirror their positions with profit potential on its DupliTrade platform.
Any trader can use this broker to explore the asset offerings it hosts. Depending on your skill level, you will choose a platform that maximizes your experience. Besides the standard web trading, you can trade on the MT4 and MT5 platforms. These automated platforms host advanced features and tools to help with research and market analysis.
Note that AvaTrade fees vary based on the asset you plan to trade. Generally, forex and CFD trading attracts low spreads. Therefore, if you are a budget-conscious trader, AvaTrade is worth considering.
Like any other broker, AvaTrade falls short in specific categories. It is crucial that you are aware of these pitfalls to fully prepare yourself to explore the broker. Although you will enjoy your trading experience with this broker, note that its inactivity fee of $50 per quarter kicks in after only three months of no trading activity. Furthermore, you will pay an administrative fee if you do not trade for another 12 consecutive months. This only means that you need to be an active trader to enjoy what AvaTrade offers.
AvaTrade is one of the best brokers for social and copy trading. However, accessing the DupliTrade and ZuluTrade copy trading platforms is rather costly. Moreover, its AvaProtect platform only supports forex, silver, and gold trades. We also believe that the broker’s offerings are limited compared to what some of its peers offer.
If you were looking for a new online broker we hope this article has provided you with some insight in what to look for. The broker has various financial regulators overseeing its activities, including the Financial Conduct Authority (FCA), the Australian Securities and Investment Commission (ASIC), to name a few. You can also use the broker to take short-term positions as it is known to execute trades fast and host adequate resources for market analysis. All in all, AvaTrade is a reliable broker but you have to ensure it aligns with your trading requirements by testing it out on your own.
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