Real Reviews on AvaTrade
If you are looking to open an account with AvaTrade, the popular Forex and CFD trading platform from Ireland, and you are browsing the internet to find opinions from real users, you have come to the right place. What do we mean by 'real users'? Well, what other platform comparison sites do is basically give you their own opinion. But this is not 100% reliable. It just doesn't sound good.
We have searched for the most representative positive and negative opinions to describe the experience on this platform. How did we do it? We checked out the site trustpilot.com, which is the largest global website that collects information from services. Real users of every good or service on which an opinion can be given leave their comments on them at Trust Pilot. In this article, we collect good and bad thoughts representing the “heard on the street” comments regarding the Broker. We include the reviewer's name so that, if you are in doubt, you can look it up on trustpilot.com.
AvaTrade's 5 Star Reviews (Excellent)
Victor Amadi: “With my experience about this platform is a good and reliable broker, infact, I give it 5 star, good customer service support, with zero spread, keep it up, ava broker is one of the best platform to partner with, good interface and bright screen ,Very easy to used, you are the best.”
Sandra Petersen: “I am absolutely amazed at the effeciency of this company. The welcoming I received yesterday. The phone call from Dana. I'm so happy to experience such fantastic Customer Service. The person who helped me on the live chat was so quick to answer questions and guide me. Exceptional service. I'm truly amazed that such service still exists. Keep up the good work!”
Note from Alexon: Generally speaking, the 5-star reviews are for customer service, there is very little info about AvaTrade's platform itself.
AvaTrade's 3 Star Reviews (Average)
Now we dive into the not so good opinions. Real users say about AvaTrade:
Simon Houlton: “Avatrade have a decent platform. I used mt4. I found the spreads a bit high and because of this traded xauusd exclusively. This was about 0.4 pips. I've lost £1.20 . Not much but I've recognised from close scrutiny of the chart that big institutions are over manipulating prices. Normally I can out manoeuvre them but in this case I cant . As any high calibre trader must; I accept when I will lose totally. Withdrawn. In reply to Avatrade. With respect feelings are irrelevant. To trade your majors, clients must overcome £2 average spread. I believe impossible in current market conditions. Your s and p 500 has 0.5 pip spread which is high for this indices.”
Jose Francisco Chavez Villafranco: “My financial advisor's support is very poor because I can never contact him...”
AvaTrade's 1 Star Reviews (Bad)
Will Gray: “Staff were very rude! Y**** B****** in particular called me a liar, thief and scumbag. Which really is not an acceptable way to speak to a client. It has also been over 14 working days since I requested my withdrawal and still has not been received.”
Anyford Mudarikwa: “they are incompetent and inefficient. I submitted a document which was supposed to be verified in one business day but it's been days and nothing has happened”
Orane Bradford: "Don’t waste your time or money signing up to Ava trade. It is extremely easy to deposit your funds but when it comes time to withdraw, they don’t allow you to. I have been trying to withdraw my funds for 5 days now, and even after speaking to several customer service representatives I am still unable to withdraw my funds.."
The screenshot of the MetaTrader 4 (MT4) platform features a dynamic user interface, equipped with multiple essential components for trading. The "Market Watch" window displays a list of the most traded currency pairs, showcasing market liquidity with real-time bid and ask prices. Concurrently, the EUR/USD candlestick chart offers a crisp visualization of market fluctuations over a one-hour period, accentuating bullish trends with green candles.
PROS
This platform offers a wide selection of over 1000 stocks and ETFs for traders to choose from, providing ample opportunities for diversification and investment.
+1000 Stocks/ETFs Available
This platform is regulated by a credible government agency, ensuring that it operates in compliance with industry standards and regulations. Regulation provides a level of security and protection for traders, as it requires the platform to adhere to specific rules and guidelines designed to safeguard the interests of market participants. Trading on a regulated platform can enhance trust and confidence in the trading environment.
Regulated by a Credible Government Agency
This platform has been in business for over 20 years, demonstrating its experience and reliability. Users can trust the platform's long-standing presence in the industry.
+20 Years in Business
CONS
This trading platform lacks comprehensive educational resources, making it challenging for traders to access valuable learning materials and enhance their trading knowledge. Without access to educational resources, traders may struggle to understand complex trading concepts, strategies, or market analysis, limiting their ability to make informed trading decisions.
Lack of Educational Resources
This trading platform charges high trading fees, which can significantly eat into traders' profits. With high transaction costs, including commissions, spreads, or other fees, traders may need to achieve higher returns just to offset the expenses, making it more challenging to generate substantial profits from their trading activities.
High Trading Fees
This trading platform offers limited customer support, leading to delays in resolving issues or inadequate assistance for traders. With subpar customer support, traders may face challenges in getting timely responses to their inquiries, resolving technical difficulties, or receiving necessary guidance.
Poor Customer Support
PROS & CONS
APPS
AVATRADEGO
Mobile platform by AvaTrade. Designed for user-friendly trading experience.
METATRADER 4
Widely-used platform for forex trading. Known for its Expert Advisors (EAs) and customizability.
METATRADER 5
Successor to MT4 with more timeframes and order types. Supports more markets beyond forex.
AVAOPTIONS
AvaTrade's platform for options trading. Provides advanced trading tools.
DUPLITRADE
Platform for copying professional traders' actions. Enables automatic trade replication.
ACCOUNT OPENING
How to Open a Trading Account with AvaTrade
Opening a trading account is a process that involves several key steps to ensure both your trading needs and the broker's regulatory requirements are met. Below, we describe the process in detailed steps:
Visit the Broker's Website: Access the official website (found in the index of this review). Look for the option to open a new trading account, which is usually clearly indicated on the main page.
Complete the Registration Form: Provide your personal details, such as name, address, email, and phone number. Depending on the broker's need to know you better as a client, additional information about your trading experience, employment, and financial situation may be requested.
Identity Verification: Upload documents to verify your identity and residence. This generally includes a photo ID (passport or identification document) and a proof of address (utility bill or bank statement).Set Up Your Trading Account: Configure aspects of your account, such as currency type, leverage, and, in some cases, trading preferences.
Deposit Funds: Make an initial deposit using one of the payment methods accepted by the broker (We detail the alternatives later).
Access the Trading Platform: Download and install the trading platform. Log in with your account details.
Practice with a Demo Account (Optional): Practicing trading with virtual funds before risking real money means you won't be surprised when using real money.
Start Trading: Once your account is set up and funded, you can start trading.
How to Deposit
Once you have decided how much to deposit and which method to use, making the deposit is simple and quick. Just follow these steps:
Log in to your newly created account.
Click on "Deposit Funds".
Enter the amount and select the currency.
Finally, select your chosen deposit method. Don't worry, it's a secure and private process. Transactions are communicated using Secure Socket Layer (SSL) technology.
Below we show you the available alternatives.
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Deposit & Withdrawal Methods
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
BASIC INFO
AvaTrade is a globally recognized online broker offering Forex, CFDs, and cryptocurrency trading. The platform is known for its diverse range of trading instruments, comprehensive educational resources, and advanced trading platforms. AvaTrade focuses on creating a supportive and user-friendly trading environment, suitable for both beginner and experienced traders.
REGULATION
Australian Securities & Investments Commission
ASIC
Australia
Financial Futures Association of Japan
JFFA
Japan
Cyprus Securities and Exchange Commission
CySEC
Cyprus
Central Bank of Ireland
CBI
Ireland
Financial Sector Conduct Authority
FSCA
South Africa
Israel Securities Authority
ISA
Israel
Abu Dhabi Global Markets
ADGM
United Arab Emirates
ASSETS & SERVICES
AvaTrade is a solid choice for investors interested in FX (Forex) and CFD (Contract for Difference) trading. It offers a wide range of financial assets, including:
Currency Pairs (Forex): Currency pairs are one of the most popular assets in trading. Investors can speculate on the fluctuation of exchange rates between major currencies, such as EUR/USD, GBP/JPY, and USD/JPY.
Stocks: It allows the buying and selling of CFDs of stocks of companies listed on various stock exchanges worldwide. This provides investors with the opportunity to invest in leading companies like Apple, Amazon, Microsoft, and many others.
Stock Indices: Stock indices represent the performance of a group of stocks on a specific stock exchange. Investors can trade indices such as the S&P 500, FTSE 100, DAX, and more, allowing them to diversify their portfolios.
Commodities: Commodity assets include crude oil, gold, silver, natural gas, corn, coffee, and other basic commodities. Investors can speculate on the price movements of these commodities, which are often influenced by economic and geopolitical factors.
Cryptocurrencies: You can trade CFDs on a variety of cryptocurrencies, such as Bitcoin, Ethereum, Ripple, and Litecoin.
INDEX
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Try this App
AVATRADE: AUTOMATED TRADING AND MANUAL STRATEGIES DISCUSSED
Have you come across this financial app and wonder what it is all about? In this review, we will walk you through the key points to consider when evaluating its features and benefits.
28.12.23
Last Update: