AvaTrade Review

A comprehensive review of AvaTrade's security, trading fees, and more.

AvaTrade Overview

AvaTrade is an investment firm founded in 2006 in Ireland formerly known as AvaFX. The company is regulated by the Central Bank of Ireland and compliant to the Markets in Financial Instruments Directive, which applies across all EU member states. AvaTrade is licensed to provide CFD trading in over 150 countries through subsidiary offices located in several major cities including Paris, Milan, Sydney, Tokyo, Ulaanbaatar, and others. They have also recently entered into a partnership with football club Manchester City.

Pros

  • Has both fixed and floating spreads
  • Supports multiple languages
  • Wide choice of trading platforms including AvaTradeGo, MetaTrade4, and Zulutrader
  • Negative balance protection

Cons

  • Slow withdrawal process
  • No emergency stop loss
  • Traders with higher volume pay the same spread

What can I do with AvaTrade?

AvaTrade provides CFD (Contract for Difference) trading for a wealth of different assets including commodities, ETFs, forex, stocks, indices, and cryptocurrencies. CFD trading allows users to trade against the changes in the price of an asset without having to buy the underlying asset. These types of trades are usually leveraged in the interest of profit maximisation. If you are interested in buying and holding cryptocurrency for yourself, you should be looking at cryptocurrency exchanges or brokers instead; but if you’re looking to profit by trading against the value of crypto, then CFD platforms are the way to go.

AvaTrade provides an extensive amount of educational and analytical resources for traders on their partner website SharpTrader.com. There are also up to 5 mobile and web-based platforms offering different trading instruments and tools for users to choose between.

Which cryptocurrencies can I trade?

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Bitcoin Cash (BCH)
  • Neo (NEO)
  • Ripple/XRP (XRP)
  • EOS (EOS)
  • Litecoin (LTC)
  • Monero (XMR)

Payment methods

With AvaTrade, you are required to use the same methods for the depositing and withdrawal of payments. Before you do so, you will have to submit documents to show proof of identity (POI) and proof of residence (POR). More information on this can be found in the account verification section below. Here is a list of the currently accepted payment methods:

Bank Transfer

You can fund your account through a bank transfer or wire transfer. This could take up to 7 days to show up on your account.

Debit/Credit card

You can make deposits with your Visa or MasterCard. The funds should appear on your account instantly, however, if you are using your credit card to make a deposit with AvaTrade for the first time, it could take up 24 hours before the funds show up on your account. The debit/credit card you use must also be registered in your own name.

Electronic wallets

You can fund your account through various electronic payment methods such as Paypal, Neteller, Webmoney, and Skrill. The funds should be available on your account within 24 hours.

What devices can I use AvaTrade on?

AvaTrade provides several trading platforms that can be accessed by different platforms. For example, the AvaTradeGo platform is a proprietary trading platform available on their specially designed mobile app, which can be accessed by both Android and iOS users. Desktop and laptop users can alternatively use the MetaTrader 4 or ZuluTrader platform, which can be accessed through download or on the browser. You can use AvaTrade on:

  • Desktop computers
  • Laptops
  • Mobile phones
  • Tablets

How easy is it to use AvaTrade?

AvaTrade has a simple, organised, and intuitive website that comes in multiple languages including English, Italian, French, German, Spanish, Arabic, Portuguese, Russian, Taiwanese, Chinese and Japanese. The trading platform (MetaTrader 4) can be accessed directly through the landing page upon login. First-time traders might struggle with finding their way around the MT4 platform, which is where AvaTrader’s educational resources and guides come in handy. If you’re new to CFD trading, it usually takes some time to get your head around.

Countries supported

AvaTrade is available in over 150 countries worldwide. Although the full list is not specified, we have compiled a list of all the countries supported via recognised regulators below:

  • Austria
  • Belgium
  • Bulgaria
  • Cyprus
  • Czech Republic
  • Denmark
  • Estonia
  • Finland
  • France
  • Germany
  • Greece
  • Hungary
  • Iceland
  • Italy
  • Latvia
  • Liechtenstein
  • Lithuania
  • Luxembourg
  • Malta
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Romania
  • Slovakia
  • Slovenia
  • Spain
  • Sweden
  • United Kingdom
  • Australia
  • Japan
  • South Africa

Regulation

AvaTrade is a regulated broker authorised to conduct CFD trading in over 150 countries around the world. Some of the notable entities that regulate the operations of AvaTrade include the Central Bank of Ireland, Financial Services Commission, Australian Securities and Investments Commission (ASIC), and the Financial Services Agency in Japan, and the Financial Services Board in South Africa.

Account verification

The account verification process is quite extensive on AvaTrade.com, largely due to compliance towards regulators. If you are a user based in the UK, you are expected to produce documents that show proof of your identity (POI) and residence (POR). You will be required to answer basic compliance questions regarding your understanding of the risks of CFD trading practices. Therefore, when opening an account, you will need to show:

You will be required to show a valid government issued ID, passport photo, or driver’s license.

Proof of address

You will be required to produce a utility bill or bank statement within the last three months, which shows your full address, name, and date of receipt.

Customer support

AvaTrade has a multilingual support staff that can be contacted through calls, live chat, and email. Support is currently available in Arabic, Finnish, English, French, Hungarian, German, Korean, Japanese, Polish, Russian, Portuguese, Spanish, and Swedish. The customer support team operates 24/5 and offers localised support for various countries. Avatrade also has an extensive FAQ section where you can expect to find answers to common queries regarding the trading platform, cryptocurrencies, and CFD trading. Response times may vary depending on where you are based.

CFD platform

First impressions

AvaTrade offers different trading platforms depending on the device you are using. If you are operating from a desktop computer or laptop, you will be able to use the MetaTrader 4 program, which is the default trading platform for experienced traders. This is actually the main platform on AvaTrade, which can be a bit daunting for first-time users to use. However, AvaTrade provides a plentiful amount of educational resources on how to use the MT4 platform itself.

On top of this, you will be provided with additional trading features such as market reviews and economic calendars, which update you with the latest news and updates regarding the assets you intend to trade with. There are also more simplistic platform alternatives for inexperienced users, such as the ZuluTrader, or the mobile proprietary platform AvaTradeGo.

What currency pairs can be traded?

  • BCH/USD
  • BTC/EUR
  • BTC/JPY
  • BTC/USD
  • BTG/USD
  • EOS/USD
  • ETH/USD
  • LTC/USD
  • XRP/USD

Are there fees for trading?

AvaTrade does not charge commissions on trades, withdrawal fees, or inactivity fees. Instead, the platform is funded through its spreads, which are explained below.

What is the minimum spread?

A spread is the difference between the ask (selling) and bid (buying) price of an asset. AvaTrade offers floating spreads, which means that spreads are constantly changing in response to market fluctuations, so it isn’t possible to give a definitive answer to the questions here.

Can I trade cryptocurrencies with leverage?

Yes, you can CFD trade cryptocurrencies with leverage. However, due to how volatile the cryptocurrency market is, leverages are usually a lot lower for cryptocurrencies compared to more stable assets like forex. If any leverage is offered at all on cryptos by Avatrade, it’s usually 2:1.

It is advised that users be careful when trading with leverages, as the potential to make large profits is equally matched by the potential to lose capital.

What are the margins required?

The margin is the minimum amount of money required in order to open a leveraged trade, so you only put up a fraction of your exposure when trading with leverage. Because they fluctuate often, it is best to have a look at the most recent margins on the Avatrade trading platform itself.

Can I open long and short positions?

Yes, you can open long and short positions with AvaTrade. Opening a short position means that you are intending to sell at a specific price because you expect that prices will plummet further in the future. On the other hand, a long position is taken when you think that prices are bound to go up in the near future. This can either help you to cut losses or capitalise sooner on profits.

Are there withdrawal and deposit limits?

AvaTrade does require a minimum deposit, and this depends on your payment method and its denominated currency. The minimum deposit via credit or debit card is £100 / $100 / €100, whereas via wire or bank transfer it is £500 / $500 / €500. There are no limits to withdrawals, but AvaTrade does require you to withdraw funds in your account using the same payment method you deposited with.

Summary of AvaTrade CFD trading

AvaTrade provides exactly what you want if you are looking to CFD trade cryptocurrencies with leverage, as they provide a competitive amount of cryptocurrency pairs to trade with. Furthermore, they provide a uniquely wide range of platforms for different levels of traders to trade with, and equip users with a wide range of free educational resources through its partner SharpTrader.com. First-time users who might be inexperienced with trading platforms like MetaTrader4 (MT4) can also practice using the demo for up to 21 days with $100,000.

General

Extra Features

Daily Briefing and Weekly Market Report

AvaTrade provides its users with daily and weekly information on specific markets and assets, which are coupled with detailed analysis and news updates to inform traders.

Auto Chartlist

This is a set of pattern recognition tools that you can use for fundamental and technical analysis as long as you deposit at least $500 in your account.

Demo

As a new user, you can try using a demo account for up to 21 days, learning the ropes of trading with $100,000 to spend on the MT4 platform without having to submit full verification.

Conclusion

AvaTrade is a reliable CFD platform for users looking to trade with cryptocurrencies. Compared to many other CFD platforms, AvaTrade provides an abundance of trading related resources at little to no cost for its users. These come in the form of daily or weekly news analysis, or educational resources hosted on SharpTrader.com, which teach users how to make the most of their trading platforms.

Users can also check and manage their trades on the go with the mobile app and trading platform AvaTradeGo, as well as interactively learn the ropes through the demo service provided.

In regards to user security, AvaTrade and its subsidiaries have become compliant with an extensive amount of regulators around the world, demonstrating their nature as a dependable and reliable trading platform.

The only detriment with AvaTrade is that they might take time to move your money. Compared to most other CFD platforms, users have reported that withdrawal times with AvaTrade are unusually long, although they do always arrive eventually.

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How to set up an account

Decided to register an AvaTrade account? Great, here’s how it’s done:

  1. Visit AvaTrade’s official website, and click on ‘create account’.
  2. You will be redirected to a page where you can start to fill in your personal information, including your full name, country of residence, phone number, and email address.
  3. At this point, you will be able to use a demo account through the web-based platform. If you wish to start trading with real money, you will have to get your account fully verified. Details on how to do this can be found in the ‘account verification’ section.
  4. Once you have submitted the requisite documents and gotten approval for them, you can start CFD trading with AvaTrade once you enter your first deposit!

Reviews and comments

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  • Min-Investment:£100
  • Coins:BTC, ETH, LTC, XRP, EOS, DASH
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