Ava Trade is a renowned Forex and Contract for Differences (CFD) broker based in Ireland that provides remarkable online services for its hundreds of thousands of beginner and advanced level traders worldwide. The company opened for business in 2006 which makes it one of the oldest online brokerages in the world. Since then, they have expanded their business across continents.
In the following article, we will be reviewing Ava Trade on the basis of different services that are provided by this broker. We will be analyzing their different regulations, the number of trading platforms provided by them, the aspects which makes this brokerage safe to trade with, their trading fees and commissions (if/any), bonuses and promotions, the different type of account types and their spreads, funding methods for depositing and withdrawing your money for the trades and other things.
The aim of this article is that by the end of this article you should be able to decide whether to select Ava Trade for your trading purposes or to select any other broker that would serve you better.
Brief Overview Of Ava Trade:
- Secure: Being regulated by various financial regulatory bodies, Ava Trade has deemed itself safe to trade with.
- Multiple Trading Platforms: One of the most remarkable features of trading with Ava Trade is that they provide their clients with multiple types of trading platforms.
- Experienced: Founded in 2006, they have since launched many products and have been presented various accolades for their exemplary services.
Ava Trade – Company Profile:
Ava Trade is a member of the Ava Group. Ava Group is regulated by the Central Bank Of Ireland. They have their headquarters in Australia. Their first office was located in Dublin, Ireland. Currently, they have multiple offices in more than 11 countries in the world. Some of the countries include Australia, Japan, South Africa, the British Virgin Islands, Spain, China, and Canada.
Ava Trade is one of the oldest online broker firms. In particular, they deal with CFD, forex, and cryptocurrency. Ava Trade is best known for providing multiple platforms to its traders.
The company has received multiple awards due to its excellence. Some of them include awards for the best customer support, the best forex broker of the year, the best alert system, etc.
Ava Trade holds multiple licenses issued by various regulatory bodies from over the world. Ava Trade has around 200,000 registered traders who, on average place more than 2 million trades each month. Ava Trade has generated revenue exceeding $1.47 trillion since its inception.
Ava Trade Regulations:
Valid regulations are essential to the integrity of any broker. Having multiple offices worldwide Ava Trade has been licensed by a number of regulatory bodies that have deemed it safe to trade with them.
Having been found in Ireland, Ava Trade is regulated by the Central Bank Of Ireland.
Their offices in Australia are regulated by Australia’s Security and Investments Commission (ASIC).
Ava Trade Japan KK is regulated by the Japanese Financial Services Authority (FSA).
It is also regulated by the Financial Services Commission of the British Virgin Islands.
For its trading within Canada, Ava Trade has partnered up with Friedberg Direct and they have been regulated by the Investment Industry Regulatory Organization Of Canada (IIROC).
More recently, they have been licensed by Abu Dhabi’s Financial Services Regulatory Authority. In fact, Ava Trade is the first forex broker to receive a 3A license in Abu Dhabi.
Ava Trade – Trading Platforms:
One of the most significant positive aspects of trading with Ava Trade is that they provide their clients with a wide variety of trading platforms to choose from. They cater to every need of every trader, whether they be a beginner, intermediate, or seasoned trader. They provide the following options:
1. The Meta Trader 4 platform – an industry cult classic. It is available for mobile devices, tabs, iPads, iOS, and Windows-based devices as well. This platform allows hedging.
2. Meta Trader 5 platform – more powerful and faster than MT4 makes it a strong choice for many. It provides DOM data.
3. Ava Trade Act platform – this is their in-house platform, carefully developed for the liking of their traders. An ideal choice for traders is wishing to trade options that are offered on Forex currency pairs and gold. This platform simplifies the trading options and represents trade risks and payoffs graphically to give traders a better understanding. This platform provides 13 default options for trading strategies. This also includes a well-versed range of advanced risk management metrics.
Ava Trade also offers multiple software types which include RoboX, Mirror Trader, MQL5 Signal Service, API Trading and Duplitrade.
Types of accounts depend upon the geographical location of the trader and are thus divided into two types. One is for residents of the European Union, the other is for anyone outside of the European Union.
EU residents have a choice between 3 types of accounts; a retail account, a professional account, and a spread betting account. (Please note: spread betting is only available in the UK and Ireland.
Residents outside the EU have the option of only one type of account that is the Standard Account.
Under special circumstances, a top-tier VIP account can also be issued. The only condition is that traders needing this type of account would be required to deposit a sum exceeding 10,000 Euros.
For the Muslim community, Islamic accounts are available. In such types of accounts, no overnight swaps are charged or paid making it compliant with Sharia Law.
The minimum account deposit (except for VIP account) is $100 by wire transfer or $500 by online transfer. Deposits can be made in USD, GBP, EUR or AUD for the Australian traders.
The process of opening accounts with Ava Trade is fast, digital, and safe.
Like many other broker companies, Ava Trade also offers its users access to a demo account. Demo accounts are particularly useful for beginners as they can practice their work in a real-life scenario but with no risk. People can gain more experience and implement new strategies with the use of these demo accounts.
The MT4 and platform apps can be accessed through iPhones, Android devices, iPads, tabs, and Windows devices. The mobile app can be customized as per needs and does a fairly great job.
They have a huge educational center. It is rated as one of the best educational centers provided by any broker. It contains numerous videos, tutorials, glossaries, eBooks and lectures.
Trading Coaching Courses:
For the betterment of their traders, Ava Group provides them with free online trading coaching courses in partnership with the Manchester City Football Club.
Deposit And Withdrawals:
Ava Trade offers 3 base currencies. They include EUR, GBP, and USD, AUD for only Australian traders, and CHF.
Ava Trade charges absolutely no deposit fees. Deposits can be made using credit or debit cards, PayPal. Skrill, FasaPay, Neteller, Klarna, Web Money, POLi for Australians or bank transfers. Except for bank transfers, which usually takes up to several days, the rest of the payment methods will take less than 4 to 5 hours maximum.
No fees are charged on withdrawals either. The money can be put directly into the different E-wallets available, or into debit cards, or into the trader’s bank account. Bank wire deposits can take upwards of 2 to 3 days to get processed.
As per Ava Trade’s policy, they do not accept payment from any third parties. The account should be in the trader’s name.
Market And Trading Products:
Ava Trade only offers CFD, ETFs, Forex, and cryptocurrency. Forex includes more than 55 currency pairs, including the major, minor, and exotic pairs. 9 different types of cryptocurrencies are also available.
Bonuses And Promotions:
FCA has prohibited companies regulated by them to offer any type of bonuses or promotions. Therefore, bonuses depend upon the geographical location.
Their customer support is available worldwide. They have dedicated phone lines in all of the countries that they operate out of. The customer support is available via phone chat, live chat, email. You can also reach the broker on their social media handles on Facebook, Twitter, LinkedIn, Youtube, and Instagram.
Their live chat works really well. Most of the general questions pertaining to their operations can be asked and answered via live chat.
Email reply generally takes 1 working day which is not terrible.
Their support is swift and pretty informative.
Ava Trade is regulated by several financial regulatory bodies worldwide making them a reliable broker.
The only drawback we could find in their services includes the lack of variety in their product range as they only deal with CFD, ETFs, forex, and cryptocurrency.
They have low forex fees. There are multiple options for deposits and withdrawals, all of which are absolutely free of charge.
Their MT4 platform and its availability are on all kinds of devices. Their in-house platform offers much more than the usual conventional platforms that are provided by many brokers. Their educational resources are huge. The customer service is pretty decent. The user reviews are also mostly positive.
So all in all, Ava Trade is a benchmark of this industry and definitely a safe and reliable option to trade with.