AvaTrade Review

Introduction

AvaTrade.com was set up in 2006 in Ireland and is now overseen by a number of financial authorities making it a reputable platform to trade on. Customers can use the platform to trade Forex but also CFD and Crypto. While this is not a massive range of products, it is highly competent at the services it does provide - though its Forex trading fees are not as low as its other asset class fees.

One of the ways that AvaTrade.com sets itself apart from some of its competitors is through its research arm. The research it produces is thought provoking as well as wide ranging so investors can benefit from many investment ideas. While its fees may not be the most competitive on the market, they are at least clear so that calculating trading costs is far easier than with other more complex structures seen at some competitors.

‍“A Forex platform that provides thought provoking research and investment ideas along with a clear and transparent fee structure”

Platform

AvaTrade.com has a website trading platform, a desktop trading and a mobile trading platform. All are user friendly making placing trades straightforward. All also have an excellent search feature, thus helping use of the platform even easier. The mobile platform is perhaps the broker’s strongest tool out of the three platform types, though it is disappointingly only available in English.

There is one glaring issue however for all three platform types, and that is the lack of two factor authentication at login. Given how sensitive much of the information saved on a user’s account is, having the most robust security procedures in place is hugely important. It is surprising to see the lack of two factor authentication on AvaTrade.com’s offering - particularly given how much development has gone into their otherwise excellent mobile trading app.

Opening An Account

There is little to nothing to complain about when opening an account with AvaTrade.com. This online broker offers a fully electronic registration service that is lightning quick. While it does have a minimum deposit amount, it is at least low - only $100. Customers can make a deposit with a credit card - though debit cards are also accepted, alongside some electronic currencies. Customers can choose from a number of different accounts, though its Retail or Standard account is the most popular. It is possible to open a Professional trading account too, where leverage amounts are higher, but you have to prove your experience to do so.

Customer Service

Customer service at AvaTrade.com is sadly not open 24 hours a day, 7 days a week. It is, though, open 24 hours a day, 5 days a week, which is not bad - particularly in comparison to many of AvaTrade.com’s competitors. Plus, when it is available, it is excellent. Most notably, its live chat is great and users will find that they have their queries answered exceptionally quickly. There is also the option to make use of customer service channels through phone support or via email. Answers are always detailed and thorough. However, its LiveChat is by far the best way to get such answers.

Conclusion

AvaTrade.com is a highly competent broker that allows Forex specific traders to make trades quickly and efficiently - as well as answering any Crypto or CFD needs. However, its slightly clunky web and desktop platforms let it down slightly. This is a great shame as it excels in so many other areas - specifically how quickly opening an account is and its LiveChat customer support. Ultimately, if you only want to trade the small amount of asset classes it offers, it’s a good option. Many may find it too limiting not being able to access stock and bond markets however.