Comprehensive Review of AvaTrade
AvaTrade is one of the most overlooked forex brokers in the trading industry. Established in 2006 and formerly known as AvaFX, AvaTrade has offices across four continents, is regulated by the Central Bank of Ireland and carries a brokers license issued by the MiFID in the European Union. AvaTrade is also regulated in Australia, Japan and even in the British Virgin Islands.
From currency pairs and CFD’s for major stocks to commodities, indices and even Bitcoin, AvaTrade offers over 250 tradeable assets to choose from, making this broker an excellent candidate for traders seeking variety and validity.
AvaTrade offers four different account types: Gold, Silver, Platinum and Select. The minimum deposit amounts required for each plan are as follows: $100, $1,000, $10,000, and $100,000. The three higher-tier plans come with free daily signals and market insights delivered by Trade Central, which would be a great feature for beginning traders.
The maximum amount of allowed leverage is 400:1, more than enough for traders who prefer to start out with a small account.
But unfortunately, only the platinum and select accounts receive price quotes delivered straight from the dealing room, the silver and gold plans run through dealing desks, so traders may experience lagging execution times during busy trading hours. Although in my personal experience trading with AvaTrade I never ran into any problems.
While most of AvaTrade’s platform options revolve around their proprietary trading software – AvaTrader, the broker also offers the popular Metatrader 4 platform, for both fixed and floating spreads. For trading options they have the AVAOptions platform, and are also connected with various automated trading platforms, such as Zulu Trade and Mirror Trader.
I was personally surprised about the clean, sleek nature of using AvaTrader. It reminded me of a modern Metatrader 4, while navigating around multiple charts, time frames and assets was relatively simple.
Also, the AvaTrader platform contains over 30 proprietary indicators that are well suited for a number of trading styles.