While AvaTrade is regulated and provides multiple platforms for algorithmic and social copy-trading, the broker left us unimpressed. Customer service is terrible, pricing is just average, less than 300 instruments are available to trade, and research is underwhelming.
Top Takeaways for 2019
After spending several hundred hours testing 28 forex brokers over six months for our third annual forex broker review, here are our top findings on AvaTrade:
- Founded in 2011, AvaTrade is regulated in three tier-1 jurisdictions, making it a safe broker to trade forex and CFDs.
- AvaTrade offers terrible phone service. The broker finished dead last, 23rd (out of 23) in our national testing from locations across the United Kingdom.
- Compared to pricing leaders CMC Markets and FOREX.com, AvaTrade is not the right choice for discount trading.
- Alongside MetaTrader, AvaTrade offers its proprietary web platform, as well as ZuluTrade and DupliTrade, for social copy trading. Compared to industry leaders such as IG and eToro, AvaTrade left us unimpressed.
- While AvaTrade offers decent educational resources, it did not suffice to make our list of the best forex brokers for beginners.
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|Offering of Investments|
|Commissions & Fees|
|Platform & Tools|
Is AvaTrade Safe?
AvaTrade is considered low-risk, with an overall Trust Score of 87 out of 99. AvaTrade is not publicly-traded and does not operate a bank. AvaTrade is authorised by three tier-1 regulators (high trust), one tier-2 regulator (average trust), and two tier-3 regulators (low trust). AvaTrade is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Japanese Financial Services Authority (JFSA), and via Friedberg Direct, with the Investment Industry Regulatory Organization of Canada (IIROC). Learn more about Trust Score.
|Publicly Traded (Listed)||No|
Offering of Investments
While it still trails many brokers in the multi-asset category, AvaTrade continues to expand its range of markets, scope of trading tools, and the number of licenses under its regualtory umbrella. The following table summarizes the different investment products available to AvaTrade clients.
|Forex: Spot Trading||Yes|
|Currency Pairs (Total Forex pairs)||60|
|CFDs - Total Offered||221|
|Social Trading / Copy-Trading||Yes|
|Cryptocurrency traded as actual||No|
|Cryptocurrency traded as CFD||Yes|
Commissions & Fees
With variable pricing, AvaTrade offers typical floating spreads of 1.3 pips (median value derived from spreads during trading hours – 7:00-18:00 GMT – over the prior quarter). Compared to our testing last year, AvaTrade's spreads have slightly worsened.
|Minimum Initial Deposit||$100.00|
|Average Spread EUR/USD - Standard||1.3 (Sep 19)|
|All-in Cost EUR/USD - Active||N/A|
|Active Trader or VIP Discounts||Yes|
Platforms & Tools
AvaTrade offers a proprietary platform, multiple third-party trading platforms for copy trading, including ZuluTrade and Tradency, as well as MetaTrader 4 (MT4) (and in select locations MT5).
AvaTrade web: The AvaTrade web platform is easy to use. Unfortunately, it also is elementary, offering limited charting capabilities and only a handful of trading features. As far as proprietary platforms go, IG, Saxo Bank, and Dukascopy are our undisputed kings for 2019.
Copy-trading: Similarly, copy trading with AvaTrade offers platform variety but misses the critical element of community-building alongside advanced features. We much prefer eToro, Pepperstone, and Darwinex.
To score Customer Service, ForexBrokers.com partnered with customer experience research group Customerwise to conduct phone tests from locations throughout the UK. For our 2019 Review, 229 customer service tests were conducted over six weeks.
- Average Connection Time: >5 minutes
- Average Net Promoter Score: 1 / 10
- Average Professionalism Score: 0 / 10
- Overall Score: 0.8 / 10
- Ranking: 23rd (23 brokers)
AvaTrade has just an okay offering of research tools across multiple channels, including DupliTrade, a social-copy trading platform, and the cPattern indicator available as a plugin for MT4.
Trading signals: Copy trading platforms aside, the main highlight from AvaTrade's research offering is AutoChartist. With a popular set of pattern-recognition tools for technical and fundamental analysis, AutoChartist helps traders find trending opportunities and is available at AvaTrade for live account holders who deposit at least $500.
Market analysis: With SharpTrader, users can find daily and weekly technical and fundamental analysis articles published daily from a team of analysts, along with integrated tools from external providers. However, during our testing, we saw it had been over seven months since a market video update was posted.
For traders encountering any usability challenges with AvaTradeGO (we couldn't get the app to run on Android), the broker's MT4 mobile app remains a viable alternative. Needless to say, the AvaTrade mobile experience was disappointing.
While not directly regulated in Canada, AvaTrade caters to clients in the country through its partnership with Friedberg Direct, which required regulatory approval.
AvaTrade offers traders multiple platforms through its regulated brands, providing traders with a wide range of options for using trading tools across a limited range of markets. Compared to the best forex brokers, AvaTrade left us unimpressed.
Founded in 2006, AvaTrade has offices in 11 countries and provides multiple trading platforms for web, desktop, and mobile devices, offering spot forex and forex options and CFDs on numerous asset classes, including cryptocurrencies.
AvaTrade is regulated in major regulatory hubs across the globe. AvaTrade's headquarters is in Ireland, where its regulator is the Central Bank of Ireland and is a member of the Investor Compensation Company DAC (ICCL), which provides eligible clients up to EUR 20000 of maximum reimbursement in the extraordinary event of their broker's insolvency.
AvaTrade Trading Features
|Virtual Trading (Demo)||Yes|
|Desktop Platform (Windows)||Yes|
|Social Trading / Copy-Trading||Yes|
|MetaTrader 4 (MT4)||Yes|
|MetaTrader 5 (MT5)||Yes|
|Charting - Indicators / Studies (Total)||51|
|Charting - Drawing Tools (Total)||31|
|Charting - Trade From Chart||Yes|
|Watchlists - Total Fields||7|
|Order Type - Trailing Stop||Yes|
AvaTrade Research Features
|Daily Market Commentary||Yes|
|Forex News (Top-Tier Sources)||No|
|Trading Central (Recognia)||No|
|Social Sentiment - Currency Pairs||No|
AvaTrade Mobile App Features
|Apple iOS App||Yes|
|Trading - Forex||Yes|
|Trading - CFDs||Yes|
|Alerts - Basic Fields||Yes|
|Watch List Syncing||No|
|Charting - Indicators / Studies||30|
|Charting - Draw Trend Lines||Yes|
|Charting - Trend Lines Moveable||Yes|
|Charting - Multiple Time Frames||Yes|
|Charting - Drawings Autosave||No|
2019 Review Methodology
For our 2019 Forex Broker Review we assessed, rated, and ranked 28 international forex brokers over a six month time period. Each broker was graded on 81 different variables and, in total, over 60,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors quality data they can trust. Learn more about how we test.
Forex Risk Disclaimer
"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more.
About the author: Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.