Avatrade Review: Safety, MT4, Crypto, Social Trading, and More
Published October 6, 2021.
Are you interested in signing up for AvaTrade? You're not the only one as the internet-based investment community has exploded over the last two years.
The award-winning broker has been one of the premier pioneers in starting and cultivating the online trading industry, allowing investors to get started with forex, stocks, and cryptocurrency. But, with so many other rivals out there, is AvaTrade the best one available?
You can decide for yourself with this in-depth breakdown of the AvaTrade trading platform.
AvaTrade Account Types
AvaTrade has an extensive catalog of accounts for both retail and professional investors.
First, it should be noted that these accounts include MetaTrader 4, MetaTrader 5, AvATradeGo, AvAOptions, and DupliTrade. These are some of the most effective and powerful trading mechanisms to maximize your investment strategy.
One more thing. Is the AvaTrade MT4 an automated system? Yes! You can also choose to use auto-trading anytime you want.
Let's take a look at the AvaTrade account types so you can determine what is right for you and your money:
The retail account is typically reserved for beginners. This zero-commission account offers leverage of up to 1:400 and a fixed and low AvaTrade spread (starting from 0.9 pips). Also, the Avatrade minimum deposit for this feature is only $100.
Indeed, the professional account is marketed toward the more seasoned investor. But not everyone can join. Instead, you will need to show trading activity for 12 straight months, a financial portfolio worth approximately $500,000, and relevant industry experience.
Because AvaTrade is ASIC regulated, as well as following strict regulations from a plethora of other government agencies and bodies, the website must maintain a series of rules and standards.
AvaTrade also provides its clients with a wide range of other accounts, including crypto trading, Islamic investing that follows Sharia Law, and demo accounts (practice investing with virtual funds).
Is AvaTrade Legit?
Some of the most common questions new investors have are: Is AvaTrade safe? Is AvaTrade regulated? Is AvaTrade legit?
The simple answer: Yes, the AvaTrade regulated broker is all of these things - and more!
AvaTrade is approved and regulated by multiple tier-1 regulators, four tier-2 regulators, and one tier-3 regulators.
Some of these regulation institutions include:
- Australian Securities & Investment Commission (ASIC)
- Japanese Financial Services Authority (JFSA)
- Friedberg Direct
- Investment Industry Regulatory Organization of Canada (IIROC).
One more thing users regularly ask: Is AvaTrade regulated in South Africa? Yes, it is part of the South African market and is regulated by the South African Financial Sector Conduct Authority.
Ultimately, you will not come across any AvaTrade scams!
Which Countries Is AvaTrade Available In?
Considering that AvaTrade is an online institution, does it mean that everyone can access its suite of products and services?
The good news: AvaTrade is available mostly everywhere. Therefore, you will find AvaTrade in Ireland, Australia, and Malaysia.
The bad news: AvaTrade does not accept U.S. clients. It is also unavailable in Iran and Belgium.
MetaTrader 4 is perhaps one of the most powerful trading applications to trade directly from your browser. It is reliable, optimized, functional, fast, and comprehensive. AvaTrade MT4 is perfect for trading financial assets of your choosing — whenever and wherever.
Do you think you possess enough experience and a strong stomach to get involved in leverage trading? This is essentially when you borrow money from a broker to increase your position in AvaTrade stocks or AvaTrade bitcoin.
And, yes, AvaTrade offers clients leverage. On both MetaTrader 4 and MetaTrader 5, you can receive a leverage ratio of up to 30:1. Since the AvaTrade CFD broker allows commodities trading, some metals provide 20:1 leverage and oil will be limited to 10:1 leverage.
Just be prepared for a margin call on your AvaTrade leverage!
Social Trading on AvaTrade
Social trading has turned into one of the most popular components of the digital financial sector.
Does AvaTrade have this feature? Yes, copy trading is a prominent feature in the AvaTrade ecosystem.
AvaSocial is a social trading application that enables registered users to communicate with others and engage in mirror trading to mimic the trades of the traders that you follow. It is essentially an all-in-one destination for Avatrade signals, chatting, copying, trading, and earning with the experts and your peers.
You can also extend your social trading prowess by heading on over to AvaTrade Twitter, which is also a great source if you have any questions, comments, or concerns.
AvaTrade Pros and Cons
So, in the end, what are the advantages and disadvantages of using AvaTrade as opposed to the alternatives? Here is a brief list of the pros and cons:
- Account creation is fast and simple to do.
- Deposit and withdrawal options are free.
- Maintains a library of research tools.
- AvaTrade does offer PayPal as a payment method for some countries.
- Broad asset selection.
- AvaTrade is well-regulated and offers tremendous oversight.
- High inactivity fees.
- Transferring funds to the account could take up to five business days.
- Withdrawals could take up to ten business days.
Best AvaTrade Alternatives
If you are not convinced that AvaTrade is one of the best trading platforms around, or its features and tools do not suit what you're looking for, here are some of the more popular alternatives around today.
- Henyep Capital Markets (HYCM)
- IQ Option
Remember, this area of the internet-based financial market is immense. With a few Google searches, you could perhaps locate the perfect trading platform that matches everything you are looking for from investing.