AvaTrade is pushing the boundaries in a number of different directions at the same time. While they continue to lead the market with Cryptocurrency trading, they maintain a very strong and steadfast stance in the traditional broker space. Offering tight spreads, 1-on-1 training sessions for higher depositors, and regulation on every continent where a regulator can be found, AvaTrade is one of my top favorite brokers.
AvaTrade offers a basic set of accounts that should satisfy nearly all traders quite easily. A 21-day demo account is available for traders who want to try the platform without opening a real account. Once the real account is opened, then you will always have access to your demo account. The real accounts are below. As a general rule of thumb, the bigger your deposit, the tighter the spreads, the more attention you get from the broker, and better the trading conditions become. At the time of writing, bonuses were available for deposits above 250 USD.
- Silver – 100-1000 USD minimum deposit
- Gold – 1000-10,000 USD minimum deposit
- Platinum – 10,000+ USD minimum deposit.
Avatrade (Ava Capital Markets Australia Pty Ltd) is regulated by the ASIC (No.406684). This means that your funds are safe and secure and that the Australian government is acting on your behalf to ensure your trading is safe and not compromised.
Spreads and Leverage
AvaTrade has floating spreads from 0.7 pips on some of the major currency pairs, but not that these low spreads are only found in times of high liquidity in the market. It has been my experience that you should probably double the spread for your calculation when you see spreads this low – that way you will be able to calculate your profit/loss.
Deposits and Withdrawals
Deposits can be made by credit/debit cards, bank wire, and e-wallets. The minimum deposit is $250 except if you wish to use bank wire – in which case it is $500. E-wallets include PayPal, Skrill, Webmoney, and Neteller.
Withdrawal is completed through the same way that the account was funded. AvaTrade will take 1-2 business days to process the request but depending on the method through which you are getting the return, the process could take up to 10 days for the amount to show on your account.
My experience has been using credit cards, and the process has taken a total of 3 days to complete.
Customer service is not the fastest in the industry, but it is some of the best quality services you can expect. The AvaTrade team quickly understands what the issues are and puts together a solution minimizing the time you need to spend sorting out issues instead of trading.
Support is available by email and by phone. There are many local phone numbers for support, so no matter where you are in the world, or where your travels take you, you have easy access to your broker.
Clearly, I am a fan of AvaTrade, but I think that after having read this review you will see why. The traditional elements are there – customer support, solid regulation, good account types and quick access to your money should you wish to withdraw. But they are also trying to push the envelope for their customers – pushing into cryptocurrencies, swap-free account options, and new promotional offers. The only thing I would like to see now is an award for their work from 2017 or 2018 because there is a clear break in those award AvaTrade was winning between 2014 & 2016, and I would like to see the industry affirm that they are as big a fans as I am.