Before merging the words ava and trade, Avatrade was simply known as AvaFX. Some might say, it was more than just known. We are talking about one of the trailblazers of an entire industry, as avatraders have been doing their thing for a long time. In fact, Avatrade is one of the oldest FX brokers still in existence. They may be headquartered in Dublin, Ireland, but that does not mean Avatrade’s scope does not exceed the Emerald Isle; in fact, they have representatives from Paris to Tokyo and Sydney. Find out more in this comprehensive Avatrade review.
Types of Avatrade Trading Accounts
Unfortunately for all you budding avatraders out there, AvaFX only offers two basic types of accounts, and one of those is an Avatrade demo account. The other is the real thing, but it can be upgraded so we’ll get to that in due time. First, more about the Avatrade demo account. It is a perfect way to learn the secrets of avatrade. Avatrade has generously provided $100,000 in imaginary money in order for people to practice whatever comes after the avatrade login sequence, and hopefully do it right.
On the other hand, those who successfully undergo the Avatrade login sequence and start trading for real, they will have to open the main account. It is divided into Silver, Gold, Platinum and Ava Select categories, that Avatrade has you unlock with money and each of those with real money. Needless to say, each of those gives certain perks and goodies, such as the Streaming News Feed to keep you appraised of newest developments. Avatrade has a selection of trading signals as well as the option for the automated trading. Chart trading is certainly available, and AvaFX even supplies a steady source of market commentaries from various experts in this field.
Furthermore, Avatrade offers other instruments as well (bringing the total number over 200, actually), so FX is not the only thing on the menu. And besides that, this old broker has also been regulated for most of its existence, so any Avatrader can rest easy knowing their money is in safe hands.
Avatrade Commissions, Spreads and Other Expenses
Since AvaFX offers only one “real” account, the minimum deposit would be 100 USD, although they take other currencies as well, especially Euros and British Pounds – told you they weren’t that Irish after all. As for commissions, Avatrade is finished with those a long time ago, so the spread is their bread and butter. Speaking of which, Avatrade’s spread falls within the 3-7 pip range, and their leverage of 1:400 is the norm of the industry.
Their funding options are quite diverse, and concern both money deposit as well as withdrawals. Apart from Wire transfer, they also accept credit cards, and even various web services, such as Moneybookers, Neteller, PayPal, Webmoney and Union Pay; no Skrill, though. Their withdrawal options are identical, so you can collect your earnings the same way you funded your account. AvaFX even practices bonus schemes, including a bonus on the first deposit, as well as several others promotions.
What they lack in official account options, Avatrade more than makes up in sheer choice of trading platforms: there are 8 in total. Their automated trading platform makes extensive use of Ayondo, ZuluTrade, MirrorTrader and similar systems, so you can copy trades of other people, in accordance with certain parameters you set yourself, essentially enabling you to “click and forget”. This is not recommendable, though, as it requires you to give up most of the control over your trades, leaving you vulnerable to sudden developments and other people’s whims.
On the other hand, AvaFX also offers some flexibility in form of the AVAOptions platform, or AvaTrader which involves heavy use of charting in addition to news feed. Since most platforms are aimed at Windows operating system, while merely supporting others, it is a relief to any Apple fan out there to find a platform dedicated to Mac computers, aptly called Mac Trading. It offers superior speed and even more online security. Naturally, most people prefer MT4 system, as it is the norm and Avatrade has included it into the list. They even combined it into MT4 Floating Spreads platform, for those who make extensive use of MT4 but focus on the interbank market, due to lower spreads. Of course, Smartphone users were not left out, and Mobile Trading platforms come to the rescue. And finally, there is their Web trader platform.
AvaFX also offers some additional features, including advanced fundamental and technical analysis, news and comments on said news, charts, and constantly update their market analysis, meaning that their users no longer need to do their own legwork; Avatrade has them covered. Speaking of coverage, their customer support is truly remarkable. It features 11 different languages, all available via live chat, email or over one of more than 30 phone numbers spread across several countries. AvaFX even offers its own debit card, which speeds up withdrawal and money transfers in general.
For more information, visit AvaFX’s official website.