About the broker
AvaTrade has been around since 2006 and they currently have offices in 11 different nations. The platform has more than 200,000 customers and there are over 2 million trades executed each month.
They have trading volume worth more than $60 billion each month. They have many different options in terms of trading platforms, as well as a variety of different types of investment on offer.
You can choose from forex trading, cryptocurrency trading and CFD trading. Their headquarters are in Ireland, which gives them great access to the European market. They have regulators from across the globe.
AvaTrade is licensed from a number of major regulators across the world. This includes the Central Bank of Ireland, the Australian Securities and Investment Commission (ASIC), the South African FInancial Sector Conduct Authority (FSCA), the Financial Services Agency of Japan (FSA Japan), as well as the FFAJ.
Pros and Cons
- Well regulated across the world
- Multiple trading platforms to choose from
- Caters for 20 languages
- Wide variety of assets to trade
- Does not allow customers from the United States
- Transferring funds can be slow
In order to open an account with AvaTrade, you need to make a deposit of at least £100. There is no commission charged on trades. Instead, they earn their fees from the bid-ask spread.
There are also inactivity fees in place if you do not place any trades for three months in a row. They have a proprietary trading platform called AvaTradeGo. Otherwise you can use the MetaTrader 4 platform or one of the automated trading software options.
They have extensive educational resources, especially for those beginning in the space. They even have a dedicated website for their trading advice, which is called ‘The Sharp Trader’.
Their customer support is available five days per week on a 24 hour basis and they cater for 14 different languages. If you want to practice trading without staking any money, they have a demo account you are able to use.