AvaTrade Review.
AvaTrade offers some of the best forex trading tutorials in the industry, as well as a demo account for traders who want to learn and improve their skills risk-free.
Tim Fries.
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University .
Reviewed by.
Shane Neagle.
Shane Neagle.
Meet Shane. Shane first starting working with The Tokenist in September of 2022 — and has happily stuck around ever since. Originally from Maine, .
Updated January 09, 2023.
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Founded in 2006, AvaTrade is an award-winning, Dublin-based forex broker, offering its trading services in more than 150 countries worldwide, however, they do not accept clients from the U.S. They are an international company with sales centers and offices in, Dublin, Paris, Milan, Sydney, and Tokyo.
AvaTrade has over 200,000 clients worldwide who make trades exceeding $80 billion per month. Their website is available in 29 languages and the customer service is also multilingual.
However, despite being an international forex broker regulated by several national financial authorities like ASIC, JFSA, and IIROC, AvaTrade is the most popular close to home. The company’s main focus is on the biggest chunk of its audience which is its UK-based client base.
AvaTrade is an international forex broker with a large selection of investment types, trading platforms, and account types. Even so, AvaTrade underperforms in many areas. Their pricing schedule is mostly average and their platforms’ research capabilities are lacking. However, AvaTrade offers outstanding educational resources to traders of all levels.
Fast Facts.
Account Minimum: $100 Regulation: ASIC (Australia), JFSA (Japan), IIROC (Canada) Demo Account: Yes Asset Coverage: CFDs, Forex, Crypto, Commodities, Spreads, Stocks Best for: Traders looking for a good education.
Ratings.
Visit AvaTrade on AvaTrade’s website.
Risk Warning: Trading CFDs and FX Options entail risk and could result in the loss of your capital.
Overview and Summary.
AvaTrade has some key highlights that we rounded up for you:
Brokerage is available in 150 countries but not in the U.S. A very wide range of investment products including 8 cryptocurrencies. There’s an account type for every kind of trader. Very noteworthy is the Islamic account. The offer of trading platforms is sizeable, but not particularly impressive for the most part. However, clients get social/copy trading capabilities through ZuluTrade and DupliTrade. Spreads can be very low-cost, but other prices are mostly average and there are some important hidden fees to look out for. Research capabilities are subpar. AvaTrade has excellent educational resources for beginners, as well as advanced traders.
Is AvaTrade Safe and Secure? ��
AvaTrade is regarded as a low-risk broker, however, there are a few details that raise red flags. They are not listed in any stock exchange and they’re not very transparent, as their financial information is not publicly available.
This lack of transparency coupled with mistakes by the company’s administration caused legal problems for AvaTrade in the past.
The brokerage has been sanctioned in 2022 and 2022 in Belgium, Canada, and Israel for failing to meet certain legal requirements.
They had to pay €175,000 in Belgium because they failed to provide a prospectus for some of their products. AvaTrade also advertised the aforementioned products without seeking approval from FSMA, a top financial authority in Belgium.
In Israel, AvaTrade was fined because its subsidiary (atrade.co.il) ran a promotional video with misleading information in its advertising campaign. Also, AvaTrade advertised its products in Canada without seeking government approval from BSCS. Luckily for AvaTrade, there was no fine this time, and the broker got off with just a warning.
As mandated by EU financial regulators, AvaTrade offers negative balance protection, which means you can’t lose more money than what you have on your account balance. Believe it or not, your account balance can go into the negative with some brokers, which means you can get in debt.
AvaTrade protects users from this inconvenience, and in case the company goes bankrupt, or fails in any way, Ireland’s Investor Compensation Company (ICCL) guarantees clients insurance up to €20,000.
They are regulated by three tier-1 regulators:
☑ Australian Securities & Investment Commission (ASIC), ☑ Japanese Financial Services Authority (JFSA), ☑ Investment Industry Regulatory Organization of Canada (IIROC).
All in all, AvaTrade seems to be completely safe for customers despite its past quarrels with national financial authorities.