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AvaTrade Review – Is Avatrade.com Scam?

AvaTrade Review – Is Avatrade.com Scam?

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Estimated reading time: 6 minutes

Want a fantastic trading experience? Well, AvaTrade Forex broker promises that kind of trading. And since this broker was established in 2006, they have been around long enough to acquire sufficient resources for adding new features and expanding their boundaries, thus reaching out to some 20,000 retail traders.

The company was founded by a group of eCommerce, security and financial professionals who decided to come together to create a platform that would evolve to become the number one choice for most retail traders on the internet.

Statistically speaking, these traders place over 2 million trades on a monthly basis. These trades generate approximately $60 Billion per month of trading volume.

These numbers don’t lie. They only point to the fact that this Forex broker has been evolving and offering top-notch services to clients who trade with them.

The broker has its headquarter established in Dublin but with offices and sales centers in other regions like New York, Tokyo, Sydney, Milan and Paris.

Avatrade provides over 250 trading instruments (Forex, Stocks, Commodities, Indices) and attractive bonuses up to a maximum amount of $14,000.

avatrade asset

Clients have access to a wide range of trading platforms, plus a 24 hour customer service is always there to attend to queries and concerns.

Since Avatrade broker is international, they have a multilingual customer support in place to ensure that all traders, regardless of where they come from are able to use their service effectively.

What sets Avatrade apart from most brokers on the internet is that they are always improving their features and service delivery. They are always evolving to become the number one Forex brokerage firm on the internet.

Avatrade Forex Broker Review: breakdown of company information

Regulations

While Avatrade is an international Forex broker, they do not welcome traders from the US due to some industry restrictions. However, traders from all other regions are allowed to sign up and conduct their trading operations with this broker.

Avatrade complies with the stringent regulatory requirements from a handful of international bodies. This is what you should expect from a broker who provides its service to multiple jurisdictions around the world.

In Europe, they market themselves under the brand name of AVA Trade EU Ltd. In this region, they are subject to regulations set forth by Central Bank of Ireland or CBI.

In addition to this, AvaTrade is licensed and compliant with MiFID regulations. MiFID is the main regulator in this region.

In Australia, this broker is licensed under the company name of Ava Capital Markets Australia Pty Ltd. This jurisdiction is regulated by ASIC which AvaTrade complies with. All people residing in Australia can therefore use this broker without any problem.

In Japan, this broker is called Ava Trade Japan K.K. In this country, AvaTrade is regulated by the Financial Services Agency or (FSA).

And finally in the international arena, this broker is registered as a company that provides financial services and is based in British Virgin Islands. Here, AvaTrade is licensed by the British Virgin Islands Financial Services Commission, also known as BVI FSC. With that licensing, it means that this broker can finally accept traders from all across the globe.

As you can see, they are well regulated and serious with this business. Let’s see what traders can enjoy when they sign up with AvaTrade Forex broker.

Platforms and features

There are a number of trading platforms to choose from. These include the popular Meta Trader 4 platform, AvaTrader, MT4 for AvaOptions, MT4 Floating Spreads, MT4 Spread Betting, Mac Trading, Automated Trading, as well as web trading.

In addition to this, they offer highly advanced versions of Ava trader Mobile and MT4 for both Android and iOS devices.

avatrade trading platforms

Quality of support

This broker boasts of a comprehensive multilingual customer support which is very capable of handling their international clientele’s needs.

Their customer support is available in a variety of languages. These include English, French, Arabic, Dutch, Chinese, Japanese, Russian, Portuguese, Italian and Spanish.

They also provide live chat in addition to 24/5 phone support. This complements their email support which is available at all time. Just email them and you will get a reply within 24 hours.

Promotions and bonuses

AvaTrade is one of the most generous Forex brokerage firms on the internet. Customers can claim bonuses that range from $35 all the way to $14,000 depending on the deposit amount.

These funds are credited into a customer’s account instantly the moment their identity has been verified. Therefore, if you want to get started with AvaTrade, the first thing to do is to ensure that you have all the relevant documentation handy. This will ensure a quick and effortless sign up process.

AvaTrade’s banking options

Since this company operates on an international scale, you should expect them to accept multiple currencies around the world.

It is due to this reason that their minimum initial deposit may vary based on the country where you’re funding an account from.

If you’re opening a USD account, you should expect a minimum initial deposit of $100. Leverage can be up to 400:1.

In case you’re not sure, just contact them through live chat for the various account types and preferred currency that you’d want to hold your account in.

Like most competitive brokers, AvaTrade Forex broker accepts a number of deposit and cashing out methods. These include debt and credit cards, Skrill, Neteller, WebMoney, and of course PayPal.

However, if you intend to deposit large amounts of funds, you may do so via bank wire transfer.

What you need is a verified account in order to get funds in and out of your account conveniently. However, their withdrawal method is not automated. So if you need to cash out your profits, you basically need to fill out an online form and submit it to their customer support through email or through the ”Upload Documents” feature on their website.

Withdrawals are processed within 48 hours. Once your request has been attended to and funds transferred to your requested account, you will receive details of that withdrawal in your email.

However, these funds will reach your account in 5 days. This may put off most traders who are not patient enough. But there is no need to worry because this is the industry norm for most manual withdrawal processes on the internet. Rest assured that the funds may arrive earlier or not later than 5 days from the time you ask for the withdrawal.

So, why use this Broker?

They are at the forefront of cutting edge technology. They make trading convenient, plus they are always evolving or adapting new features to make their traders happy.

This broker also provides a free education area where videos, webinars, tutorials, ebooks and articles are published regularly to get traders up to speed on how to make money trading Forex.

In addition to this, AvaTrade offers both demo and real accounts, meaning that you can practice and when you’re proficient enough, you can simply switch to a live trading account.

Our best advice for you

After researching this broker extensively, we arrive at the conclusion that AvaTrade meets and even exceeds our criteria for selecting the best Forex brokers on the internet. Not only are they flexible, but they also provide excellent user experience and a wide range of tools and assets to trade.

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