Avatrade is a Forex broker under the AVA group of companies founded in 2006 and now established in 4 physical offices worldwide; Ireland, Australia, Japan and the British Virgin Islands. It is one of the oldest brokerage companies and has won several Forex trading awards, making it a leading international broker.
It offers different account types for traders, which are easy to open and excellent platforms customized for easy trading and navigation. Avatrade offers excellent tools such as expert advisors, technical indicators and charting tools for price fluctuations and market trend analysis. It is as well regulated by top authorities in the trading industry, making it very safe and reliable.
|Payment methods||PayPal, Skrill, Neteller, bank wires, Union pay, Bpay, credit and debit cards
|Swap fees||Yes, on Islamic accounts|
|Transaction cost||Zero deposit and withdraw fees|
|Security & Regulation||ASIC FSCA and FCA|
This article will discuss the main factors that you should consider as a trader while choosing a broker and highlight what Avatrade offers.
Things to consider when choosing a broker/ what Avatrade offers
The minimum deposit is a basic factor that you need to consider before opening a Forex trading account with a broker. You should go for a broker with an affordable minimum deposit.
Avatrade has a minimum deposit of $100 for retail, professional and spread betting accounts and $ 10,000 for a VIP account.
This is one of the most important trading tools and for Forex trading, it is even more important. Go for a broker with flexible leverage terms that best suits your trading needs.
Avatrade offers different leverages limits for the different account types as follows:
- Retail account and Spread betting account – 1:30
- Professional account and Standard account – 1:400
Different brokers offer different account types to meet the trader’s needs. The different account types exist to serve people with different trading needs. Therefore, it would be best to choose a broker that offers different accounts to match your trading level and that is accessible in your region.
Avatrade offers different account types available for people in the European Union and outside this region for both beginners and expert traders. The accounts differ in minimum deposits, leverage limits, commission and spread. The main account types for this broker are:
- Retail Account- Available to residents of the European region only and comes with a lower leverage limit for trader’s safety.
- Professional Account- Services residents of the European region who must first meet the ESMA regulation requirements. This account type comes with increased leverage limits.
- Spread betting Account – Similar to the retail account in terms of cost and accessibility. In addition to this, it is tax-free on spread profits for residents in the United Kingdom and the Republic of Ireland.
- Standard Account- This account type is available to traders outside the European Union.
- VIP Account- Anyone who deposits more than $10,000 can use this account. It has lower spreads.
Swap-free accounts are also available for Muslim traders who don’t accept paying or receiving interest on swap-rates.
Withdrawal and deposits
A good broker should offer payment modes available to you. It would also help if you asked the Forex and commodity broker to present to you the payment methods so that you can evaluate the fees charged for each.
Avatrade offers various depositing modes, including Skrill, Neteller, Wire Transfer, credit card, and various e-payment methods. Withdrawals take 2-3 business days to be processed and there is no commission for withdrawal and deposits.
Before settling for any broker, you should make sure they are licensed and regulated, as this gives you assurance for your funds’ safety. Otherwise, you may lose your money to unreliable, dishonest brokers.
Top authorities that regulate Avatrade include:
- Australian Securities & Investments Commission
- Financial Services Agency
- Financial Sector Conduct Authority
- Financial Services Commission
These authorities have put strict measures to protect the trader’s personal and financial information.
Bonus & promotions
Brokers offer bonuses to new clients to increase their capital and to existing clients to keep their trading interesting and profitable. Strike a deal with a Forex broker with various bonuses and promotion but consider the terms and conditions before subscribing to these bonuses.
Avatrade is regulated in the European Union, where welcome bonuses and promotions are prohibited. However, traders from other regions receive up to 30% welcome bonuses.
The broker you choose should fill your orders at the best prices and in an accelerated manner to help you make the most out of Forex trading.
Avatrade offers market execution and high-speed execution. Here, you get to close a trade at the market price you chose.
It is in the trading platform where most of the trading activities take place and you must consider a broker offering customized platforms for easy trading and navigation.
Avatrade offers both Meta Trader 4 and Meta Trader 5 platforms for all account types customized to suit both beginner and seasoned traders. The two are available for all operating systems, web-based, mobile and tablets. Meta Trader 5 platform is an upgrade with better functionality and it uses the MQL5 programming language.
All brokers charge transaction costs in the form of spreads and commission, so you should choose one with affordable terms. This will help protect your profits from being slashed significantly.
Avatrade has an average spread of 0.9 pips for its accounts, with the VIP account having a lower spread. This broker does not charge a commission for any account type.
You will need assistance from time to time when running your trades; thus, you should choose a broker with excellent customer services. Only deal with a broker that is competent when dealing with an account or technical support issues.
Avatrade ensures all problems are solved with support being given in over 15 different languages. The customer support desk is available during working hours during workdays and live chat and email support are available always.
From this review, you can see that Avatrade is the real deal when it comes to Forex and commodity trading. With accounts available for residents in the European Union and those from other regions, it ensures that no trader is left out. The customized platforms and high-speed execution will help you get the most from your trades when using Avatrade. Open an account today with Avatrade to enjoy these benefits.