AvaTrade (formerly known as AvaFX) is without a doubt a Forex broker, you can trust and who has been in this industry for many years now. All deposited funds are managed at the headquarters of the Commerzbank in Frankfurt and not any dubious bank of a banana republic. This makes it very safe to trade at AvaTrade and is a big plus. But that’s not the only advantage AvaTrade has to offer.
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The software makes definitely a more professional impression than, say, eToro. So AvaTrade is more oriented to more advanced traders, but is not necessarily harder to use. It only takes a little longer to get used to the software, but there are way more features that are very useful for advanced traders for example the Zulutrade autotrader and an API where you can create your own trading algorithms. For beginners, this is all interesting less. One more reason why AvaTrade is geared more for the advanced trader.
For many Forex traders the deposit bonus is of crucial importance. At AvaTrade you have to choose an account type (silver, gold, platinum, VIP) and it depends on the deposit amount what type you’re allowed to use. What are the differences between these AvaTrade accounts? As a trader you get a silver account with a $ 100 deposit and your account will be credited with at $ 50 bonus. This is a 50 % deposit bonus which is rather huge! As a Gold Trader with a deposit amount of at least $ 1000 you get $ 150 in bonus money. As a platinum trader, you must deposit at least $ 10 000 and you will get 10% bonus. So for example if you deposit $ 20.000, you will get $ 2000 in bonus money. And as a VIP Trader you must deposit a lot of money to receive special offers. You don’t have to ask for a higher bonus a deposit of than $ 50 000.
To cash out the bonus, you must create a trading volume of 10,000 of the basic instrument for every $ 1 in bonus money.
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AvaTrade Deposit Options
Bank transfer, credit card, PayPal, Moneybookers, Neteller, Webmoney.
AvaTrade Trading Figures
Maximum Leverage: 200:1
Minimum Margin: 0.5%
Spread: 3 pips
Available Currency Pairs: 44
Besides the usual currency pairs, it is also possible to trade with gold, silver, oil, other commodities and CFDs. The latter offer is limited to selected large companies such as Apple, Walt Disney, the DOW Jones, Nasdaq and more.
Like 99% of the Forex broker AvaTrade offers a demo account that allows you to test Forex trading with play money. Unfortunately, the demo account is only available for 21 days so you either start trading with real money or search for a new demo account elsewhere.
There are good reasons why AvaTrade is a leading player in the Forex market. AvaTrade did the right steps to focus on more advanced traders with features such as automatic trade and more professional looking software. AvaTrade also shows that it is a reputable and trusted broker. Traders funds, for example, are deposited at the Commerzbank branch in Frankfurt.
|+ Reputable and trusted broker||– Practice demo account limited to 21 days|
|+ Automatic trading|
|+ Commodities and CFD trading|
Let’s take a look at other traders opinions on AvaTrade:
I’m trading with AvaTrade for over a year now and didn’t have any problems so far.
I was using another broker before I tried AvaTrade. I always had the impression that I was scammed and this was true when I have taken a closer look to certain Forex review sites. This is not the case with AvaFX and I’m feeling comfortable and will stay there.
I’m happy with AvaTrade and get a lot of free advice from my account manager.
No complaints. Deposits work smoothly and the support is friendly and quick.
Low spreads, easy to use platform but slow withdraws.
One time I hade a problem with a deposit request. The support was great. I’m using the call back service and was called five minutes later and the problem was solved.
I had to wait for one week until my wire deposit was in my account.
One month ago, I had no idea what Forex is about. Randomly I discovered AvaTrade and registered an account. I’m only using test account. It’s very easy to navigate and the participation in one of the free live webinars made me deposit some money there. I don’t regret this move.
Unfortunately it’s a typical retail broker.
I don’t like their withdraw options and suggest they work on it.
I was very close to register with another broker. That means I already registered there. But I realized that I can’t make a deposit using Paypal. I did a little research and found out that you can deposit with Paypal at AvaTrade. It was a matter of minutes until the money was in my account. I can’t compare AvaTrade to other broker because I’m only trading there. But I’m very happy so far.
The platform is a bit slow but everything else is ok.
I opened a demo account but stopped trading because I did not like the software.
I hade some issues with my first withdraw because they had a lot of security checks to do.
I’m new to AvaTrade. The system and support is very good. My withdraw was in my bank account two days later. I like the fixed spreads. Every broker has advantages and disadvantages but I’m very pleased with AvaTrade.
One cool thing about AvaTrade is their Mastercard. This way I can use my earnings quickly and easily.
The platform is easy to use and it’s possible to make decisions quickly. Deposits are processed very fast to avoid margin calls. I tried other platforms like easyMarkets. AvaTrade fit my needs better when it comes to fast decisions and analysis. The support is very good but they are a bit slow replying to emails. Withdrawals can take a few days but that’s all I can complain about.