As a broker AVATrade has a trade volume of over $60 billion per month. There is no question that AvaTrade is one of the leading Forex brokers online today. What sets AvaTrade apart from other Forex brokers, however, is not only the volume of trades it processes each month, but the site’s intuitive user interface that caters both to both financial professionals and new Forex traders. We tested the trading platform, customer service, ease of use and other elements of AvaTrade and reported our findings below.
Maximum leverage: 1:400
Minimum deposit: $100
Minimum deal size: 5,000/limited by margin
Languages available: English, Arabic, Chinese, Dutch, French, German, Italian, Japanese, Spanish, Hindi
The primary trading platform used by AvaTrade is called the Ava Trader that gives users the opportunity to trade in FX quickly, using the wildly popular Meta Trader 4 platform. AvaTrade also offers a web based trading platform which is cleverly called Ava Java. Live trading accounts on AvaTrade can be categorized under Silver account with a minimum deposit of $100, Gold with a minimum deposit of $1,000, and Platinum with a minimum deposit of $10,000. The company’s demo account has all of the features that you will find on Ava’s live platform, which offers an excellent introductory trial.
AvaTrade offers an expansive array of features, including full streaming rates, up to the second flowing executable exchange rates 24-hours a day, and a wide range of currency crosses. However, during the course of our AvaTrade review, we were equally impressed by the features that the company doesn’t offer, including rollover fees and margin call fees – expenses that we didn’t miss for a moment.
Good, easy to use, charting tools are available on AvaTrade. Some of the features included in AvaTrade’s charting tool are Trend Lines, Fibo Retracement, Horizontal Lines, and Vertical Lines etc. Though these features may not be sufficient for truly advanced traders, they are more than sufficient for new traders and can truly enhance the trading experience.
We also appreciated that trades are executed with single-click market executions, or with double-click market trading. Similarly useful were the company’s Updated Economic Calendar Analysis and the professional analysis provided on the site that made it possible to make systematic, rational trading decisions.
Finally, we were delighted to see that AvaTrade offers bonuses and special offers for new traders such as reduced minimum deposit rates, special bonuses using specified payment methods or cash added to your account upon first deposit.
AvaTrade offers multiple forms of customer service, including email support, phone assistance and live chat. We found their phone support to be the most impressive – while we were required to hold once for over five minutes, all of our other phone inquiries were answered extremely quickly. AvaTrade offers multi-lingual support so traders who aren’t native English speakers need not be afraid to call. They also offer a 24 hour chat service.
Ease of Use
Of all the Forex brokers and trading platforms that we tested, we found AvaTrade to be one of the easiest to use. One thing that sets AvaTrade apart from other Forex sites is that it offers a clearly-designated guided tour, which is a video with audio, clearly explaining how to use the site. Traders who don’t want to sit through the guided tour can take a ‘virtual tour’ through which they can select topics and watch topic-specific tutorials at their convenience.
Even a cursory look at the AvaTrade website should make users feel instantly comfortable. Equally impressive are the company’s trading platforms are not overly complicated. Although Forex is a relatively complicated industry, we found that AvaTrade makes a supreme effort to keep their site and their tools organized and simplified while offering impressive technology and analysis so that all types of traders can thoroughly enjoy the experience.