AvaTrade Review in 2022: Is it SCAM or LEGIT Broker?

AvaTrade is a Forex and options broker that has been in business since 2006. They offer their traders a wide variety of trading products and claim to be one of the most reliable brokers online.

Is AvaTrade a scam, or is it a legitimate broker that you can trust? In this AvaTrade review, we will take an in-depth look at the company and see how they compare to other brokers in the industry.

What is AvaTrade?

AvaTrade is an online broker that offers trading services in Forex and CFDs.

The company was founded in 2006 and its headquarters is in Dublin, Ireland.

AvaTrade is regulated in the EU, Japan, Australia, South Africa, UAE, and the British Virgin Islands

Regulation: Which Regulators Do They Work With?

AvaTrade is regulated in more than 10 countries.

It is regulated by the Central Bank of Ireland. (No.C53877); B.V.I Financial Services Commission; ASIC No.406684; South African Financial Sector Conduct Authority (FSCA No.45984); Financial Services Agency – (License No.: 1662); Financial Regulatory Services Authority (FRSA) (No.190018); Cyprus Securities and Exchange Commission (No. 347/17) among other regulators.

With all these regulators, it’s safe to say that AvaTrade is safe to trade with in most of the countries where it’s accepted.

AvaTrade Review: How Many Traders Are Using AvaTrade?

AvaTrade does not release the number of traders they have.

However, we can take a look at their social media following to get an idea.

They have more than 10,000 followers on Twitter and over 100,000 followers on Facebook.

While this is not a perfect way to estimate their number of clients, it does give us an idea that they have a large number of active traders.

AvaTrade works globally except in Belgium, Cuba, and Iran.

What Trading Platforms Are Available in AvaTrade?

AvaTrade offers various trading platforms including; MetaTrader {4 and 5}, WebTrading {AvaTradeGo & AvaTradeOptions}, Automated trading {DupliTrade & ZuluTrade}, and mobile trading {MacTrading & AvaSocial}.

MetaTrader is the most popular platform in the world and AvaTrade’s version is available for desktop.

a). AvaTrade WebTrader.

The AvaTrade WebTrader has an easy-to-use interface and a modern design; it’s easy to use – doesn’t require any download and is suitable for both beginners and advanced traders.

b). AvaTradeGo.

AvaTradeGo is AvaTrade’s mobile app and it allows you to trade on the go.

It’s available for both Android and iOS devices.

c). AvaTradeOptions.

AvaOptions is a web-based and mobile app platform that gives you access to AvaTrade’s options trading products.

d). AvaTrade Automated Trading.

AvaTrade offers two automated trading platforms; DupliTrade and ZuluTrade.

DupliTrade is a copy-trading platform that allows you to copy the trades of experienced traders.

ZuluTrade is also a social trading platform where you can follow and copy the trades of other traders.

e). AvaTrade Mobile Trading.

AvaTrade offers mobile trading apps for both Android and iOS devices.

The AvaTrade App for Android and/or iOS has all the features of the AvaTrade WebTrader, plus some additional features such as a live news feed and an economic calendar.

f). AvaTrade MT4 and MT5 Platforms.

MetaTrader is the most popular trading platform in the world and AvaTrade offers both MT4 and MT5 versions.

MetaTrader 4 is available for desktop, mobile, and tablet. MT5 on the other hand is only available for desktops.

AvaTrade Review: What Account Types Are Available?

AvaTrade offers five different account types; Demo Account, Retail Account, Professional Account, Spread Betting Account, Standard Account, VIP Account, Islamic Account, Options account, Corporate Account, and Partner Account.

a). AvaTrade Demo Account.

The AvaTrade Demo account is a great way to practice trading without risking any real money.

It gives you access to all the features of a live AvaTrade account, but with virtual money.

If you are a beginner looking to start trading with an AvaTrade broker, consider using this account extensively to understand trading, create your own strategies, and test if your strategies are working before starting to use a real account.

b). AvaTrade Retail Account.

The AvaTrade Retail account is designed for small-scale traders who want to trade with lower minimum deposits in the EU.

The account gives you access to all AvaTrade’s features and products, but with a smaller deposit and the highest leverage allowed in the EU under ESMA regulations within Europe and under ASIC regulation within Australia.

c). AvaTrade Professional Account.

The AvaTrade Professional account is designed for experienced traders who want to trade with higher amounts of money.

This account requires a larger deposit than what is required for a retail account and the leverage for a professional account is also higher at 400:1.

d). AvaTrade Spread Betting Account.

The AvaTrade Spread Betting account is designed for UK residents and it gives you access to all AvaTrade’s features and products.

e). AvaTrade Standard Account.

The AvaTrade Standard account is a good choice for beginners and experienced international traders who want to trade with a lower minimum deposit.

Like all the other accounts, the standard account gives you access to all AvaTrade’s features plus, you get a leverage of 400:1 in certain major markets.

f). AvaTrade VIP Account.

The AvaTrade VIP account is designed for experienced traders who want to trade with higher amounts of money and get exclusive benefits such as a dedicated account manager, lower spreads, and priority withdrawal requests.

g). AvaTrade Islamic Account.

The AvaTrade Islamic account is for Muslim traders who want to trade in compliance with Sharia Law.

This account gives you access to all AvaTrade’s features and products, but it does not charge or receive swap interest.

h). AvaTrade Options Account.

The AvaTrade Options account is designed for options traders and it gives you a 30-day demo account.

i). AvaTrade Corporate Account.

The AvaTrade Corporate account is designed for companies and it gives you access to all AvaTrade’s features and products.

Other than that, the account will have your business name.

j). AvaTrade Partner Account.

The AvaTrade Partner account is designed for Introducing Brokers, AvaTrade’s white label partners, and money managers.

This account gives you access to all AvaTrade’s features and products, plus some additional ones such as a personalized partnership agreement, co-branded marketing materials, and dedicated account manager support.

AvaTrade Review: Deposit And Trade Size.

The minimum deposit for an AvaTrade account is $100 and the maximum leverage is 400:

Avatrade offers a wide variety of deposit methods including credit/debit cards, bank wire transfers, e-wallets, and more.

The minimum trade size for AvaTrade is 0.01 lots and the maximum depends on the shares you are trading.

AvaTrade Review: Fees.

AvaTrade does not charge any commissions on trades.

However, there is a spread which is the difference between the bid and ask price of a currency pair.

The average spread for AvaTrade is 0.07 pips on the EUR/USD currency pair.

AvaTrade Review: Customer Service.

AvaTrade offers customer service 24/hours a day, five days a week in 15 languages including English, French, Spanish, Italian, German, Russian, Chinese, and more.

You can reach customer service through live chat, phone, or email.

AvaTrade Review 2022: How to Deposit.

To deposit money into your AvaTrade account, you can use a credit/debit card, bank wire transfer, e-wallet, or more.

The minimum deposit for AvaTrade is $100.

How to Fund AvaTrade With Visa.

To deposit money to your AvaTrade account with either Visa or MasterCard, follow these steps:

• Log into your AvaTrade account
• Click on “Deposit”
• Choose either Visa or MasterCard from the list of payment methods
• Fill out the required information including the amount you want to deposit
• Click “Submit”

Your money should appear in your AvaTrade account within a few minutes

AvaTrade Review: How to Withdraw Money.

To withdraw money from your AvaTrade account, you can use a credit/debit card, bank wire transfer, e-wallet, or more.

The minimum withdrawal amount for AvaTrade is $100 and you will be charged $30 withdrawal fee for any amount less than $300.

Withdrawals are processed within one to three business days.

AvaTrade Review: Education.

AvaTrade offers a wide variety of educational resources including video tutorials, e-books, webinars, and more.

The AvaTrade Academy is designed to help you learn how to trade forex, CFDs, options, and more.

You can also take advantage of the AvaTradeGO app which is an educational tool that helps you learn about trading.

AvaTrade Review: Pros and Cons.

Pros:

• AvaTrade offers a wide variety of deposit methods including credit/debit cards, bank wire transfers, e-wallets, and more.
• AvaTrade does not charge any commissions on trades.
• Customer service – AvaTrade Offers 24/hours a day customer service, five days a week in 15 languages including English, French, Spanish, Italian, German, Russian, Chinese, and more.
• AvaTrade offers a wide variety of educational resources including video tutorials, e-books, webinars, and more.
• AvaTrade ranks Best in Class for Professional traders for 2022.
• Social trading – AvaTrade social trading is the best for 2022. The platform also offers ZuluTrade and DupliTrade for social copy trading.

Cons.

What are the disadvantages of using AvaTrade?

• AvaTrade has a limited product offering
• AvaTrade charges an inactivity fee after 12 months of inactivity.
• Pricing for retail accounts is in line with the industry average, but trails industry leaders.
• Most symbols are on hold for both the MetaTrader and WebTrader platforms.

Summary of AvaTrade Features.

🏁 Country of regulation	- EU, Japan, Australia, South Africa, UAE, and the British Virgin Islands
💰 Deposit with bank card	- Available
💱 Products offered	- Forex, CFD, Crypto
📈 Demo account provided	- Yes
🤑 Minimum deposit	- $100
💸 Trading fees class	- Low
📱 Mobile Trading	- Yes
📈 MT4 and MT5	- Yes
🙇 Educational Videos, Training and Other Materials.	- Available.
🛡️ Negative balance protection	- Available.

Verdict. Is AvaTrade a Scam or Legit Broker?

AvaTrade is a legit broker and not a scam. It is regulated by the Central Bank of Ireland, ASIC, BVI, FFAJ, FSA, and more.

AvaTrade has been in business since 2006 and has offices in Dublin, Sydney, Tokyo, Milan, New York City, and more.

Plus, it has lots of positive reviews online which makes for its slow web-based platform and its high fees for lower withdrawals.

Overall, I’d recommend you trade with AvaTrade if you have $5,000 or more to begin trading professionally.

Conclusion.

AvaTrade is a popular forex and CFD broker that offers a wide variety of deposit methods, social trading platforms, and educational resources.

AvaTrade does have some disadvantages including charges inactivity fees and a limited product offering.

Overall, AvaTrade is a good choice for beginner to intermediate traders who are looking for a reliable broker with a wide array of deposit methods and social trading platforms.

If you are a more experienced trader, AvaTrade may not be the best choice as there are other brokers that offer more products and lower fees.

Start Trading

Tagged With : "forex trading" • AvaTrade Review in 2022 • Make Money Trading • Options Trading