AvaTrade Review 2023

Written by: Adrian Ashley Edited by: Marwan Kardoosh Fact Checked by: Bahaa Khateeb
09.03.2023
Avatrade been one of the biggest players for long time now. Our experts preformed In-depth reviewing to reveal the broker top features, pros & cons and regulatory statue.
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🏆 Broker Evaluation
4.80
🗺️ Regulatory Bodies Ireland
💳 Minimum Deposit $100
⚖️ Islamic Account yes
💰 Payment Methods Bank transfer,credit card, Electronic Banks
🏢 Main Branch Irlanda
☎ Customer Service 24/5
🎮 Demo account yes
🖥 Trading Platforms Web Trde, MT4, MT5, Private Platform

Key Takeaways

  • The AvaTrade Group, founded in 2006, is headquartered in Ireland.
  • AvaTrade is licensed by the Central Bank of Ireland (Reference No.: C53877).
  • The company’s European affiliate is regulated by the Cyprus Securities and Exchange Commission (CySEC) (No.347/17). 
  • In Australia, the broker is licensed by Australian Securities and Investments Corporation (ASIC) (No 406684). 
  • The company has affiliates that are licensed to operate in Japan, South Africa, Israel, and Poland, but to mention a few.
  • AvaTrade’s European clients are covered by the Investor Compensation Company DAC (ICCL) up to €20,000 per affected trader.
  • AvaTrade offers extensive market access, with over 1,200 trading Instruments, featuring $70+ billion traded volume per month, and 24 million trades executed per year.
  • The broker provides Contract for Difference (CFD) access to markets in asset classes such as FOREX, indices, commodities and stocks.
  • AvaTrade offers commission-free trading across its account types, which are complemented by market-related spreads.
  • The broker does not charge withdrawal or deposit fees, merely passing on third-party fees as they apply.
  • The broker provides clients with platform access to MetaTrader4 (MT4), MetaTrader5 (MT5), as well as its own proprietary trading platform, AvaTradeGO, that comes with a WebTrader version and a social copy trading module.
  • AvaTrade has a powerful research and education module, known as SharpTrader, that provides invaluable direction to new traders.

Evaluate AvaTrade - research result

Overall Evaluation: 4.75
Regulations
6
Deposits and Withdrawals
5.5
Commissions
9.1
Assets
6.7
Trading Platform
4
Research and Development
5
Customer Service
5
Mobile App Trading
8
Learning
4
Experience with broker
6
Trading Tools
9
Website
7

Overall Summary

AvaTrade was founded in 2006 and offers a broad range of financial assets, with a special focus on FOREX trading. Its early entry into the market makes it an industry pioneer, something the Ireland-headquartered company is proud to share with traders, frequently telling them it was one of the first companies to offer a trading platform to retail traders.
The broker was founded as a joint effort of financial professionals and Web-commerce experts who shared the objective of creating the perfect online experience for retail traders. Over time, the broker has built a solid industry reputation. As a highly regulated broker, it feels it has ticked all the right boxes to earn the confidence and trust of its client base. 
The company is known to have an excellent choice of trading platforms and a vast array of assets. The broker allows clients to invest in the world’s most thriving online markets, where they can trade CFDs in FOREX, commodities, indices and stocks. It provides fast execution and always works on improving its spreads, which are not the lowest, by virtue of the fact the broker does not charge commission per trade. AvaTrade has a very strong education product, known as SharpTrader, which has attracted a loyal following and created many devoted customers. 
When the company was first established, it had the vision of bringing the trading world to all types of clients who did not have access to the trading world before. Today, it has a truly global footprint, with tens of thousands of clients in some 150 countries. It also employs over 400 staff to service these customers. The company offers solid customer service backed by responsive and well-trained teams in key markets.  
At the most recent count, the company serves over 300,000 clients who place over two million trades every month. AvaTrade boasts monthly trading volumes of more than $70 billion. While not the biggest broker out there, the company is proud of its client-centric approach and sound management.
The company has won many awards that recognize its excellence. In 2019, AvaTrade received the Daytrading award for the best and most reliable broker, as well as the International Business Magazine award for the best educational broker. In 2020, AvaTrade received the European global banking and finance award for the best FOREX broker. Continuing this trend, it received the FOREX brokers award for No.1 innovation and the CEO Reviews award for the top 10 brands of 2021.
Avatrade
Broker Evaluation
Year of Establishment
2006
Main Branch
Irlanda
Other Branches
Paris, Dublin, Milan, Tokyo, Sydney
Supported Languages
Arabic, English, Spanish
Operating Hours
Market Opening Hours

For Whom Is AvaTrade Good?

AvaTrade has something for every type of trader. In particular, it has user-friendly products and pricing for entry-level to mid-level traders. That said, it also has offerings tailor-made for professional clients who normally have a higher standard of needs. That said, it does not position itself as the ideal choice for professional traders as it knows its main segment is in the entry to mid-level sector. Before engaging with this broker, here are some pros and cons about which you should be aware:

Pros

  • Regulated by two tier-1 regulators (CySEC, ASIC).
  • Uses a combination of MetaTrader and its own proprietary platforms, AvaTrade WebTrader and AvaTradeGO.
  • It offers access to over 1,000 financial instruments, including over 50 FOREX pairs.
  • Excellent for social copy trading.
  • High-quality educational offering via SharpTrader.

Cons

  • Does not service the US market.
  • Pricing for retail accounts is average, no more.
  • Proprietary desktop platform is sometimes slow to load.
  • Proprietary research can improve as it currently only has one or two daily articles and videos.
  • Does not offer investor compensation to anyone but European clients

Is AvaTrade Safe?

AvaTrade has a good safety stance. The company is heavily regulated in all the right areas. Having gone to the trouble of attaining these licenses is to be commended and shows evidence that it is a serious player. The company is incorporated in Ireland and is compliant with Markets in Financial Instruments Directive (MiFID). 
The company is also regulated by the CySEC (No.347/17). In Australia; the broker is licensed by the ASIC (No 406684). The company also has a significant presence in Japan, where it is regulated by the Financial Futures Association of Japan (FFAJ) (No 1574). It also has a presence in the Middle East, being regulated by the Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA) (No 190018).
AvaTrade does not provide any compensation through regulators, but does arrange for private compensation through The Investor Compensation Company DAC (ICCL), which is an independent body that covers losses up to a maximum of €20,000 per customer.
Trading Account Information
Account Currency
USD
Minimum Deposit
$100
Segregated Accounts
No
Payment Methods
Bank transfer, credit card, Electronic Banks
Accepting US Clients
No
Available Markets
Forex, Stocks, Commodities, Cryptocurrencies, Indices
Demo Account Duration
30 Days
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Offering of Investments

AvaTrade grants clients access to over 1,200 financial instruments across a wide range of different asset classes. It is important to note that the number of assets to which you have access differs per jurisdiction. EU traders tend to have the most amount of assets open to them, as AvaTrade has been concentrating on this market since its inception. The broker offers access to the following instruments:
  • FOREX. 
  • Indices.
  • Commodities.
  • Stocks.
  • Bonds.
  • Exchange Traded Funds (ETF).
  • Options.
  • Cryptocurrencies (CFD).
You should note that trading cryptos is available at AvaTrade, but only through CFDs. This means you are not buying the underlying asset. Also regarding crypto CFDs, these are not available to retail traders from the UK due to strict legislation problems there. The rest of AvaTrade’s book is made up of some 50 currency pairs, as well as major stock indices, individual shares, ETFs, bonds, and such commodities as gold, silver, sugar and coffee.
Do note that the majority of these stocks can only be traded on the MT5 platform and not on the MT4 (which is a FOREX-only platform) or WebTrader platforms. You can, however, find a good number of FOREX options through the AvaOptions platform.

Available Assets

Markets Available Number of Assets
Currency Pairs 55
Stocks 609
Commodities 19
Crypto 20
Indices 31
ETFs

Account Types

Account Type Minimum Deposit Spread Commission Commission Swap Commission Deposit Commission Withdrawal Commission
Professional account not mentioned not mentioned not mentioned not mentioned not mentioned not mentioned
Retail account not mentioned not mentioned not mentioned not mentioned not mentioned not mentioned
The following types of accounts are available at AvaTrade:
Standard Account: This is the most popular account that is used by the majority of traders. It is a multi-functional account catering to entry-level traders and advanced traders alike. The account is linked to all the brokers platforms.
Islamic Account: To apply for an Islamic account that is compliant with Sharia Law, you must first open a standard account, before requesting access to a swap-free Islamic account.
Demo Account: The AvaTrade demo account is active for 30 days after you open it. However, you don’t have to wait that long to open a real account, as you can switch to a live account at any time. It is always good advice for you to use the demo account for as long as you can to get a feel for the platform and hone your skills to find out ideal instruments and trading styles. The good thing about the demo account is that it mirrors real-time market prices and conditions. This ensures that your strategies are working as they would in the real world. 
If you are a high-volume trader with good experience who wants to get ahead in your career, you can request AvaTrade to open a Professional Trading Account in your name. The first thing you will notice is that the leverage is far higher than in the Standard Account. With the Standard Account, your approved leverage is 30:1, whereas with the Professional Account, you can get as much as 400:1.
To get a professional account, you will be required to show that you have enough trading experience and exposure to the financial sector, and your trading activity for the prior 12 months will need to demonstrate a regular trading pattern with good liquidity amounting to at least €500k portfolio value.
All accounts are available in AUD, JPY, GBP, USD, EUR and ZAR. The minimum deposit to start trading is $100, €100, or £100. If you live in Europe, the maximum leverage you will be allowed to use is 30:1. However, as mentioned, professional traders get up to 400:1, but they forfeit their access to the company’s compensation benefit.

Account Opening

Opening an account with AvaTrade is easy. Simply visit the company’s official Website, click on register now or sign up. Thereafter, you will need to fill in your personal details. To verify your account, you need to fulfill the standard Know Your Customer (KYC) process by delivering the necessary documents. Once you have made your first deposit, you can start trading.

Bonuses and Promotions

At AvaTrade, select affiliates are allowed to offer bonuses and promotions. This depends on where the affiliate is located, as many regulators ban the offering of bonuses. In countries other than Europe, AvaTrade gives traders the chance to win a deposit bonus and gain some extra cash through the refer-a-friend program. 

Deposits and Withdrawals

AvaTrade offers traders the means to make deposits via several secure deposit options. Some traders find that some of AvaTrade’s withdrawal times are on the slow side. This is something the broker can work on. AvaTrade supports the following funding methods across its global client case:
  • Credit Card/Debit Card.         
  • Bank Wire.  
  • PayPal.
  • Skrill. 
  • Neteller. 
  • P24.                               
  • Klarna/Sofort.                           
  • Rapid Transfer.                         
  • Ideal.             
  • Boleto.         
  • Perfect M. 
  • Giropay.
  • Multibanco.                
  • NetbankingUPI. 
  • OnlineBankLatam.   
  • Qrpay.          
  • Ozow.           
  • UPI.               
  • M-PESA.      
  • PayRetailers.
Not all these withdrawal and deposit methods are available to all traders, as some of these payment carriers are only available in certain countries or certain groups of countries. It is always best to check which carrier is available in your region, and which one will give you the best combination of speed and low fees.
Advantages of Trading
Maximum Leverage
1:400
Minimum Lot Size
0.01
Available FOREX Pairs
55 Currency Pairs
Scalping
Yes
Hedging
Yes
Spread
Starting from 0.9 pip
Trailing Stop
Yes
Islamic Account
Yes
Trading Platforms
Web Trde, MT4, MT5, Private Platform
Regulatory Bodies
Broker Type
MM
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Customer Service

Clients in need of customer-service assistance can speak to an agent via 24/5 live chat. They can also send a message via an email account that is monitored constantly. The broker offers phone support, as well as social media touchpoints. When you visit AvaTrade, you are directed to a comprehensive set of frequently asked questions (FAQ) that will often remove the need for you to call a customer service agent, as most questions are answered. As part of a global group, AvaTrade has opened several international offices that give traders local phone access when required.

Commissions and Fees

By market standards, AvaTrade’s trading fees are low. As a new trader, it is easy to figure out the broker’s fee structure, making trading costs simple to calculate. The company supports this clarity with a FOREX Calculator that allows you to accurately calculate your next FOREX position.
AvaTrade offers commission-free pricing, but spreads are higher to compensate for this. For instance, the EUR/USD starts with 0.9 pips or $9 per 1.0 standard lot. This can easily be beaten in the market. If fees for FOREX pairs are your most important factor, there are better alternatives out there.
In keeping with its ethos around fees, the broker asks equity investors to pay a minimum spread of 0.13%, also based on a commission-free starting point. Some equity traders may find they can create a competitive pricing environment on certain assets, depending on trading volume and duration. If you trade indices and commodities with AvaTrade, you are likely to receive some of the best rates on the market, as trading costs here rank among the lowest in the industry.
As mentioned, you can open an AvaTrade account with as little as $100. The broker does not offer volume discounts or guaranteed stop-losses, which can put you at a major disadvantage. If your account has been inactive for three months, you will be hit with a $50 charge, which rises to $100 after one year of inactivity.
AvaTrade does not charge any account fees, while deposits and withdrawals are also free of charge. No withdrawal or closure fees are listed on the broker’s Website, but in contradictory fashion, its legal disclosure documents indicate minimal fees for bank transfers and credit card transactions. You are advised to seek clarity on this matter.

Leverage

Leverage is determined by the regulator in each jurisdiction. European traders with AvaTrade will be subject to strictly controlled leverage levels up to 30:1 for major currencies. For all other traders and for professionals, too, AvaTrade can provide high leverage up to 400:1. Traders should be aware to use this leverage with discretion, as they can suffer dramatic losses easily.

Platforms and Tools

AvaTrade offers the following trading platforms:
MT4: This platform has become a household name in FOREX trading circles because of its intuitive platform that is easy to use and creates a powerful and flexible trading environment. MT4 allows clients to trade FOREX using up to 30 built-in technical indicators. Traders can make use of custom expert advisors and technical indicators. There are four pending order types and nine timeframes to make the trading experience as insightful as possible.
MT5: This platform is known for offering comprehensive trading access to a wide range of assets. It offers state-of-the-art trading capabilities, featuring some of the best technical analysis tools around. Traders enjoy a wide choice of different order types, timeframes, and graphical objects with which to work. If you are a CFD trader, you should know that ETF CFDs and individual stock CFDs can be traded only on the MT5 platform and not on MT4 or the WebTrader platform, both of which are more geared toward FOREX.
AvaTradeGO: This is the broker’s proprietary platform that also comes standard with the intuitive AvaTradeGO app. Contained in the AvaTrade proprietary stable you will also find AvaOptions that allow you to maximize your returns on the broker’s bespoke trading platform for CFD options.
WebTrader: You don’t have to download any software to check open trades and perform new ones from any browser if you use WebTrader, AvaTrade's own Web-optimized trading platform.
Ava Social: With AvaTrade, you can also get in on the social copy trading by using the Ava Social module that also features access to DupliTrade and ZuluTrade. This allows you to copy the trades of successful traders. By doing this, you can still be successful as a trader while not having to concentrate on formulating and testing your own strategies. 

Mobile Trading

AvaTrade has spent a lot of time and effort developing its own suite of trading tools, which it combines with third-party platforms such as MetaTrader. For traders who do a lot of mobile trading, AvaTradeGo is a modern, easy-to-use app with an adequate slate of features, such as the AvaProtect insurance scheme. The app is only available in English, which excludes many traders. 
In our review, we found that safety on the app can be improved as there is no two-step verification method available. Overall, while AvaTradeGo has the same functionalities as the browser version, it can sometimes feel clunky, and the look can be cluttered. If you are accustomed to mobile trading using MT4, this is also available to you as an AvaTrade client.
Research and Development
Like many modern brokers, AvaTrade understands the importance of offering strong research products and features to ever more intelligent and demanding clients. AvaTrade partners with Trading Central, a third-party research company with a powerful market presence and reputation. It makes sense for brokers like AvaTrade to outsource what can be a resource-heavy function like research. The AvaTrade blog is run internally and features light market commentary. However, this is nothing compared to the depth of analysis offered by Trading Central.
Education
The education section is also vast and detailed, and underpinned by its flagship resource SharpTrader. Each resource is comprehensively structured and expertly crafted. SharpTrader is known by many to be filled with well-organized tutorials that are broken down into beginner, intermediate and advanced sections. The pathway to deep trading knowledge is laid out right there for you in a logical and well-constructed manner. There are many general articles covering a range of market topics, in addition to tutorials on the various trading platforms the broker deploys. 
In total, SharpTrader delivers over 40 courses and 200 videos. As a new trader, you cannot afford to ignore this level of information that has been crafted by experts. We would encourage you to spend meaningful amounts of time building your skills on this site. However, watch out for the lagging search feature that detracts from an otherwise excellent resource.
If that is not enough, you can consult AvaTrade’s “Key Information Document” (KID). Here you will find further detail on every instrument the broker offers, as well as helpful explainers on the risks associated with trading each asset. Curiously, this document forms part of an additional education section not related to the helpful SharpTrader site.

Final Thoughts

AvaTrade is a long-established broker that continues to grow through sound management and product innovation. It is regulated in Europe and Australia by tier-1 regulators, but does not offer access to a broad-based compensation scheme in case it runs into trouble. With powerful market access, competitive trading fees, and a suitable selection of account types from which to choose, beginner to intermediate traders can be satisfied that this broker caters to their needs.
The company has dependable trading platforms. Its market access is acceptable despite not being the widest ranging on the market. Traders can use MT4 and MT5 on their desktop or mobile device to enjoy familiar functionality. They can also use AvaTrade’s suite of in-house platforms should they choose.
The broker has a good research section that is filled with expertly crafted educational material sourced from a trusted third-party. Its customer service desk is available 24/5 and is staffed by helpful agents. In all, this is a broker that can be trusted to serve its main clientele well, even though it lacks in some areas, such as serving professional traders.

Conclusion

AvaTrade has some work to do around investor fund protection. Despite that, its long record of operation offers a sense of comfort that this broker is well-run and will not encounter trouble. Its fees are competitive, even if not the best in the market.
Its outsourced platforms are dependable and recognizable, its in-house platforms are similarly trusted, while its research and education capabilities are to be admired. The broker does not have any features that are immediately attractive to elite, high-volume traders, which is where all the best brokers compete. 

AvaTrade in Brief

AvaTrade’s overall offering is strong and well-balanced. Its main highlight is a detailed research and educational section. Its fees are competitive, and its platforms can be relied upon to deliver a good trading experience. The company is safe, especially in Europe, Australia and Japan, and it has received some industry recognition for its excellent service.  

Review Methodology

The team at Arincen collected more than 120 pieces of data covering in excess of 100 licensed FOREX companies. Data collection was done in three ways:
  1. Companies’ Websites.
  2. Other Websites that have ranked FOREX companies.
  3. A survey questionnaire (referred to here as Survey “1”) we had sent to the companies invited to participate in the exercise. 
We have identified 12 criteria for our assessment, each containing several aspects and carrying its own relative weight. These include licensing, deposits and withdrawals, number of assets etc.  
Afterward we validated the data by:
  1. Registering with FOREX companies as a secret shopper and/or as Arincen.
  2. Survey number “2,” in which we asked these companies’ customers for important feedback and past experience. 
The next step saw us evaluate and rank each company, relying on the hard work of 15 Arincen employees. We were very careful in ensuring the most accurate assessment possible, including taking into account different languages, as well as the various mobile-app operating systems, e.g., Apple, Samsung etc.
To add credibility to our research project, we sent a final and third survey (referred to here as Survey “3”) to enable participating FOREX companies evaluate our own research and whether it accurately reflects the realities on the ground. We were fortunate enough to receive a mark of 9.9 out of 10! We have kept to a minimum the margin of error, which stood at a measly 1%. To learn more on how we came up with the evaluation, please click here.

FAQ

Where is AvaTrade regulated?

AvaTrade is incorporated in Ireland and is regulated by the Central Bank of Ireland (Reference No.: C53877). It is also regulated by the CySEC (No.347/17). In Australia, the broker is licensed by the ASIC (No 406684). The company also has a significant presence in Japan, where it is licensed by the Financial Futures Association of Japan (No 1574). It also has a presence in the Middle East, being regulated by the ADGM FRSA (No 190018).

In what other ways does AvaTrade protect me?

AvaTrade takes part in the ICCL scheme, which means it can offer affected European clients a maximum of €20,000 in compensation should it default. The broker also abides by MiFID, where all client funds are held in segregated accounts from the company’s funds.

Which countries does AvaTrade serve?

AvaTrade serves traders in over 150 countries, including Spain, Brazil, the UAE, Sweden, Finland, South Africa, Australia, China, Poland, Hungary and Chile, but to name a few. However, AvaTrade is not available in the US. Other countries in which Avatrade does not operate and where trading is banned include Iran, Syria, North Korea, New Zealand, Turkey and Sudan.

Does AvaTrade offer Cryptocurrency trading?

Yes. The broker offers cryptocurrency trading, but only in CFDs, meaning you do not get to own the underlying asset.

Does AvaTrade provide any extra offerings?

At AvaTrade, select subsidiaries are allowed to offer bonuses and promotions. This depends on where the subsidiary is located as many regulators ban the offering of bonuses. In countries other than Europe, AvaTrade gives traders the chance to win a deposit bonus and gain some extra cash through the refer-a-friend program.

How do I fund my account?

Deposits and withdrawals can be actioned using the following methods: Credit Card/Debit Card, Bank Wire, PayPal, Skrill, Neteller, P24, Klarna/Sofort, Rapid Transfer, Ideal, Boleto, Perfect M, Giropay, Multibanco, NetbankingUPI, OnlineBankLatam, Qrpay, Ozow, UPI, M-PESA and PayRetailers. Not all countries offer all these methods. Be sure to check which ones apply to where you live.

Which trading platforms does AvaTrade offer?

AvaTrade offers MT4, MT5, AvaTradeGO, AvaOptions and WebTrader, AvaTrade's own Web-optimized trading platform. You also have the option to social copy trade through Ava Social.

How can I access customer service?

Clients in need of customer service assistance can speak to an agent via 24/5 live chat. The broker offers phone support, as well as social media touchpoints. When you visit AvaTrade, you are directed to a comprehensive set of FAQs that will often remove the need for you to call a customer service agent, as most questions are answered.

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Written by
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Adrian Ashley
Adrian Ashley is a seasoned business and finance writer. With a corporate career spanning over 20years, he has developed deep experience in such diverse areas as investing, business, finance,technology and macroeconomics. He is passionate about captu...
Edited by
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Marwan Kardoosh
The Editorial Department at Arincen makes an important contribution to the world-class content that...
Fact Checked by
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Bahaa Khateeb
 Bahaa Khateeb is currently the CEO of Arincen, a start-up Fintech company based in Haifa. Baha...

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