AvaTrade Review, Forex Broker&Trading Markets, Legit or a Scam-WikiFX
The fact that AvaTrade has a Wikipedia page is a testament to its reputation and credibility in online trading. It’s worth noting that Wikipedia content is highly moderated for accuracy, so having a page dedicated to https://traderoom.info/city-index-forex-broker/ AvaTrade speaks to its legitimacy and significance. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. Its web platform is easy to use, even if it’s not the most complete out there.
The overall process remains swift, but I would like AvaTrade to add cryptocurrencies as an option. This might not be an issue if you prefer to learn by yourself, but can be a great option if you need a little professional guidance along the way. There is a vast array of minor, major and exotic forex pairs, along with a generous selection of cryptocurrencies. AvaTrade CFDs include a selection of commodities and bonds while shares and ETF offerings are dominated by highly liquid big tech stocks. UK and Ireland traders can open spread betting accounts as well, rounding out a full-featured investment product catalogue. In addition to these cool features, the app has a smooth and stable interface.
Can I Trade Crypto with AvaTrade?
Now that I’ve reviewed AvaTrade in depth and given you my review, you should have a clear idea on whether or not this is a good option for you. But before I finish, I wanted to remind you of a couple of things about this trading platform. Investors looking to trade some real stocks or ETF may find conform on DEGIRO’s wide range of assets; investing in shares and ETF of North America, Europe, Asia and Australia is possible. To give you an example, let me compare the fees charged by AvaTrade for several different products, so you get an idea of the spreads.
The chatbot can answer a lot of questions about AvaTrade platforms, deposits/withdrawals, and more by prompting you with options when you ask a question. This is evidenced by their fixed spreads and in-house dealing desk. They determine the bid-ask prices of the CFDs they offer and fulfil all of your trades for you. Once you verify your account, you can add money to your trading account, begin to trade, and withdraw funds. Your bank or payment processing company may charge some independent transaction fee.
ARBITRARY DEBITS IN TRADING ACCOUNT
AVATrade strives to process all deposits as quickly as possible, though processing times may vary depending on the chosen method and any additional verification requirements. AVATrade takes its responsibility to protect its customers seriously, and as such, it has implemented various measures to ensure that its customers are protected while trading. AVATrade ensures that customer funds are kept separate from the company’s operating funds. This ensures that customer funds are protected during the company’s insolvency. These regions represent some of the major trading hubs in the world, with a high demand for Forex and CFD trading services. Traders can send the support department an email for assistance by filling out a basic web form that does not allow you to attach any documentation or screenshots.
For beginners, AVATrade offers training on how to trade online, stocks, currency trading, copy trading, cryptocurrency trading, and financial derivatives. Additionally, AVATrade offers tutorials on its trading platforms, covering topics such as charting, technical analysis, and order execution. Traders can also access economic indicators and trading rules to help them stay up to date with market developments and make informed trading decisions.
Web Trading Platform
We found out that AvaTrade offers a single Standard account, traders can specify a corporate account or Swap free Islamic account, and also a Demo account to test brokers’ environment. The broker offers a Retail account, which is basically the same as the standard one but is mainly for traders living in Europe. The AvaTrade live chat customer support for us was prompt when we tested it, with a response time of about 1 minute. Additionally, AvaTrade offers you the option to choose between CHF, EUR, and USD as your base currency.
- After logging into your AvaTrade account, you’ll find a range of trading platform options available below.
- AVAOPTIONS – The typical Bid-Ask Spread (Pips) for instruments and Option Spread is displayed for AvaOptions Trading.
- However, the FCA does not regulate it, which is known for its strict market regulations.
There are no account management fees and deposits and withdrawals are also free. There is no additional cost for using the Copy Trading platforms and trading fees are built into the spreads. For example, Europe 50 CFDs average about 2 points during peak trading hours. At the time of writing, much banking information was absent from the AvaTrade webpage. The minimum deposit is £/$/€ 100 and deposits are actually a touch slow when compared to almost any other broker. A credit card deposit takes 4-5 hours to clear into your trading account, while most brokers would be instant.
The pros, cons, and fees of AvaTrade
With more than 12,000 assets to choose from, you will never run out of options if you sign-up with this broker. The lucrative high leverage is another plus for more experienced brokers. If you have experience in the trading world and you know what you are doing, you might be better of with RoboForex than AvaTrade.
- And after trading on it for over a year, I think it is the best broker for forex and CFD trading.
- Therefore, before trading, verify the AvaTrade trading instruments available and the regulations governing them based on your account holder, location, and chosen platform.
- In fact, the live chat agent was able to explain the broker’s fee structure to assist in this review of AvaTrade.
- To trade effectively with AvaTrade, it’s important to have a good understanding
of the AvaTrade trading tools and the markets.
- If you want more tools, you can add them to the software or buy them via an integrated market.
The MetaTrader is available for desktop, mobile devices, and web browsers. At first look, the MetaTrader can be difficult to use but the AvaTrader support will help you with that. We recommend using the free demo account first to practice trading. If you want more tools, you can add them to the software or buy them via an integrated market.
AvaTrade: Forex & CFD Trading
However, the FCA does not regulate it, which is known for its strict market regulations. It does not provide 2FA (two-factor authentication) to log in to its trading platforms. Start trading with leverage products in more than 1,250 different markets. It is easy to open short positions in stocks via CFDs (Contract For Difference) with AvaTrade. The last point we have to check in this review is the support and service for traders.