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AvaTrade Review

Steven Hatzakis

By Steven Hatzakis / February 18th, 2019
Last Updated: March 21st, 2019

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

The ForexBrokers.com Annual Review (3 years running) is among the most cited in the industry. Our Head of Research, Steven Hatzakis, is frequently referenced as a leading analyst covering forex brokers and cryptocurrency. Learn more.

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 multiple asset classes, including cryptocurrencies.

With its headquarters in Ireland, AvaTrade is regulated in major regulatory hubs across the globe.

Overall Summary

Rank: 24th (of 28)

AvaTrade provides multiple platforms for automated and social copy trading. It also offers forex options, in addition to spot CFDs (cryptocurrency included) across multiple markets via its entities regulated in major and emerging financial hubs.

Benefits

  • Regulated in the EU, Japan, Australia, BVI, and South Africa.
  • Provides off-exchange forex options on 40 currency pairs.
  • Supports cryptocurrency CFD trading on eight crypto pairs.
  • Offers multiple platforms including a social copy-trading platform.

Considerations

  • No proprietary desktop or web platform.
  • AvaTradeGo Mobile app is not compatible with most phones; use the MT4 app instead.

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Trust Score

Trading with a forex broker traders can trust is crucial to success. Unfortunately, forex fraud and scams are common in the industry. To help investors find trustworthy brokers, we have created a proprietary 1-100 score (the higher the better), which we call Trust Score.

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Trust Score

AvaTrade

AvaTrade
Year Founded2006
Publicly-Traded Company (Listed) No
Regulated in Major Hub Yes
Regulated in Emerging Hub Yes
Authorised in the European Union Yes

Commissions & Fees

Rank: 22nd (of 28)

Overall, AvaTrade’s spreads are not its most competitive feature, as the average spreads on its variable pricing are higher than those of its top competitors.

Benefits

  • With variable pricing, AvaTrade offers typical floating spreads of 0.7 pips (median value derived from spreads during trading hours – 7:00-18:00 GMT – over prior quarter).
  • Compared to our 2018 review, the broker’s spreads have improved.
  • AvaTrade also offers AvaSelect, which is comparable to an active trader program – with tailored trading terms – for those who deposit over 100,000 (EUR, GBP, or AUD equivalent) or who trade 100 million in volume (1000 standard lots) per quarter.

Considerations

  • The trading costs for forex at AvaTrade consist of floating (variable) spreads, as the broker discontinued its fixed spread offering in 2018.

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Further Reading

AvaTrade

AvaTrade
Minimum Initial Deposit$100.00
Average Spread EUR/USD - Standard0.70
All-in Cost EUR/USD - ActiveN/A
Active Trader or Premium/VIP Yes

Platforms & Tools

Rank: 20th (of 28)

AvaTrade offers multiple third-party trading platforms such as ZuluTrade, DupliTrade, as well as the popular MetaTrader 4 (MT4) web and desktop platform from MetaQuotes Software Corporation.

Benefits

  • The ZuluTrade and Tradency platforms are primarily for social copy trading.

Considerations

  • A major change for the broker in 2017 was the shift away from the AvaTraderAct desktop, which was discontinued in 2018, making the firm primarily an MT4-broker, although multiple social copy-trading platforms help elevate its offering.

Gallery

Further Reading

AvaTrade

AvaTrade
Virtual Trading (Demo) Yes
Proprietary Platform Yes
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader4 (MT4) Yes
MetaTrader5 (MT5) No
cTrader No
Charting - Indicators / Studies (Total)51
Charting - Drawing Tools (Total)31
Charting - Trade From Chart Yes
Watchlists - Total Fields7
Order Type - Trailing Stop Yes

Customer Service

Rank: 23rd (of 28)

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.

Results

  • 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)
  • View Infographic

Research

Rank: 19th (of 28)

AvaTrader has a good balance of research solutions across multiple channels, helping to round out its offering in this category.

Benefits

  • AvaTrade combines in-house research tools and resources with content from third parties. On 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.
  • For finding trading opportunities, AvaTrade offers several social copy-trading platforms, including ZuluTrade, in addition to Dupli Trade and the Signals market on MT4.
  • AvaTrade also offers AutoChartist – a popular set of pattern-recognition tools for technical and fundamental analysis for live account holders who deposit at least $500.

Considerations

  • None.

Further Reading

AvaTrade

AvaTrade
Daily Market Commentary Yes
Forex News (Top-Tier Sources) No
Weekly Webinars No
AutoChartist Yes
Trading Central (Recognia) No
Delkos Research No
Acuity Trading No
Social Trading / Copy-Trading Yes
Social Sentiment - Currency Pairs No
Economic Calendar Yes

Mobile Trading

Rank: 24th (of 28)

For traders encountering any challenges with AvaTradeGO, the broker’s MT4 mobile app remains a viable alternative.

Benefits

  • AvaTrade offers multiple third-party trading platforms for mobile, including the AvaTradeAct mobile app developed by ActTrader Technologies Inc, and the popular MetaTrader 4 (MT4) mobile app from MetaQuotes Software Corporation, as well as the AvaTradeGO mobile app that syncs with MT4.

Considerations

  • For this review, I focused on using the AvaTradeGO mobile app for Android. Unfortunately, I was unable to run the AvaTradeGO mobile app as it was not compatible with any of my mobile devices, and logging into the older version of the AvaTradeAct mobile app did not work either.

Gallery

Further Reading

AvaTrade

AvaTrade
Android App Yes
Apple iOS App Yes
Trading - Forex Yes
Trading - CFDs Yes
Alerts - Basic Fields Yes
Watch List Yes
Watch List Syncing No
Charting - Indicators / Studies30
Charting - Draw Trend Lines Yes
Charting - Trend Lines Moveable Yes
Charting - Multiple Time Frames Yes
Charting - Drawings Autosave No
Forex Calendar No

Offering of Investments

Rank: 18th (of 28)

The following table summarizes the different investment products available to AvaTrade clients.

AvaTrade

AvaTrade
Currency Pairs (Total Forex pairs)60
CFDs - Total Offered171
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

Final Thoughts

Rank: 24th (of 28)

AvaTrade offers traders multiple platforms through its regulated brands, providing clients with a wide range of options for using trading tools across a good range of markets, including spot forex on 59 currency pairs and 37 currency pairs for forex options trading.

For our 2019 Forex Broker Review we assessed, rated, and ranked 28 international forex brokers. Each FX broker was graded on 81 variables. 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.

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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