Opinions on AvaTrade an ideal forex broker for beginners

4.5

Our Summary

There are many dynamic players in the online stock exchange market. There is a wide range of securities accounts that can be controlled from an online bank account and trading platforms for the general public. It is therefore difficult for any specialised site to make a place for itself. It is the risk taking and the level of service that make a significant difference to investors. AvaTrade is one of those brokers that make a difference. AvaTrade is what you might call a first-generation online broker. It was created in 2006 with fairly strict regulations and software tools that are far less powerful than they are today. The broker’s approach is a clever mix of web trading and online marketing. In 10 years, this has enabled it to reach an ever wider audience while obtaining certifications from 5 regulatory authorities around the world: North America, Europe, Asia, South Africa and China. Its success has also been built on a strong business model that enables it to stand up to even stock market crises. However, are these points sufficient to fully explain the weight of the trading platform on the online stock market in UK? How does it work? What characterises it? Deciphering a financial opportunity to be seized.

How do I open an compte client AvaTrade?

It has become a standard or even a constituent element of a CFD broker. The opening of a trader account is 100% online and takes only a few minutes

  1. Click on the CREATE ACCOUNT button
  2. Fill in the form that is proposed with the required data: name, surname, email address and telephone number
  3. Send this form to customer support for validation

AvaTrade UK makes it possible to register for a minute by linking to a Google or Facebook account. As soon as your account is active, it is preferable to send the supporting documents requested by the system for full use of the real money account: valid identification (CNI or passport), proof of residence (such as an energy bill) less than 3 months old. This step can be postponed if you opt for an AvaTrade demo account. It is also possible to make your first deposit while waiting for the validation of the real account by customer service.

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The demo account

Another element that has become an essential part of an online broker trading system that is very popular with investors: the demo account. AvaTrade Demo takes up a formula that works very well on other trading sites. The novice trader has access to all the tools – charts, analysis, stock market trends – and can place fictitious orders from his client space with the virtual capital granted by the broker. This is an important moment in learning how to be a trader. Especially for beginners. It is much more than a simulation. The AvtaTrade demo account provides immersion in real conditions, without the risk of financial losses, without the stress, without the profits. An excellent all-practical method for understanding how the platform works and the mechanics of the financial markets.

Trading platform

There are a lot of things to study about the AvaTrade trading platform. First of all, there is an AvaTrade bonus that boosts the initial deposit on the trader’s account. This bonus varies between €40 and €10000 depending on the amount of money deposited. Unfortunately this bonus is not available in the European zone as it is not authorised by the local regulatory authorities. Namely CySEC for the European Economic Area and the Autorité des Marchés Financiers (AMF) for UK. It is possible to withdraw the gains resulting from its use if an equivalent volume has been invested in the year following its allocation to the trading account. Let’s now go into the details of AvaTrade web trading.

AvaTrade Social trading

The regulated broker offers its own version of social trading. We can say that it is oriented towards sharing knowledge about the stock market and financial investments. It is simply called AvaTrade forum and it is the ideal place to exchange between traders. There are no access restrictions. All accounts – free and paying – are invited to take part in this data shuffle around online trading. It’s an opportunity to exchange tips on investment strategies that work, analyse trends, comment on financial news and get valuable advice from successful investors. The other dimension of social trading according to AvaTrade is the Mirror Trader copy trading tool which facilitates the automatic replication of profitable asset portfolio management. The user selects an investor who demonstrates its efficiency. Thanks to Mirror Trader each order placement – opening / closing a position, indicating profit and loss limits (Take Profit / Stop Loss) – is scrupulously copied without external intervention. It is an ideal solution to increase profitability easily. A rather secure method for beginners who wish to consolidate their capital.

Mobile platform

A strong sign of the broker AvaTrade’s great adaptability, it was one of the first to offer a mobile platform to its clients. AvaTrade Go is a very well thought-out tool that allows traders to keep a constant eye on their stock market investments wherever they are. It is based on MetaTrader WebTrader technology which is the market leader in mobile online trading applications. Investors can find the full browser version: financial products, charts, blog, copy trading, support service. The mobile platform is responsively designed for ease of use. It can be downloaded from the Apple Store for iOS devices and from Google Play for Android mobile devices. A technical tour de force for uninterrupted performance and intuitiveness at the touch of a fingertip.

Avatrade deposit and withdrawal

Simplicity, speed and accessibility are the 3 words that best describe the system of inbound and outbound transactions of the traders’ accounts on AvaTrade. The AvaTrade deposit is open from €100 and is capped at €20k with the provision of a personalised financial advisor to help you invest such capital properly The deposit methods are divided into 3 main families:

  • visa and Mastercard credit cards
  • eWallets Karna, Skrill, Neteller and Rapid Transfer
  • bank transfer

Intuitive and instantaneous. No threshold or cap on AvaTrade withdrawal. As soon as the balance is positive the client can make a request to the support. As with deposits, no fees are applied to this type of transaction. It is possible to make a withdrawal from any payment solution valid for a deposit.

Customer support

The AvaTrade UK brokerage site makes it a point of honour to take proper care of its investors. This is immediately noticeable when one collects the delighted testimonials from clients. Or when you look at the regular awards that the platform has received over the years from external institutions that are experts in the field. Customer service is available 5 days a week, 24 hours a day (24/5). Namely from Sunday 21:00 (GMT) to Friday 21:00 (GMT) which covers the entire time dial of the world’s major stock exchanges. The advisers are multilingual, including English. A live chat is available from the site, once connected to the trader’s area. The CONTACT section allows you to send an email to the support team. Telephone lines are also available to answer all requests:

  • 35 3766705834 (international)
  • 33 170702052 (UK)

Training

This is surely the aspect that AvaTrade should work on the most to provide an even more complete user experience. The AvaTrade training is essentially based on the excellent Demo account, which, it is true, allows you to try out the various features of the site and the finer points of stock market investments free of charge and without risk. Access to real-life graphs and technical analysis promote quality immersion The video training materials and other expert blog posts are very well constructed. Free downloadable e-books are also available to supplement the knowledge of beginner and intermediate traders mainly A progressive training programme, such as can be found at XTB, would be a real plus. It would also allow us to accompany expert traders even further in their quest for profits and wealth in the long term.

Security

The web trading platform does everything possible to ensure maximum security for users. In our opinion AvaTrade is one of the most secure brokers on the market. All customer data is encrypted with 256-bit SSL, which is a protocol used by banks all over the world. Incoming and outgoing transactions are also subject to top cyber protection. Funds are protected from outside intrusion with AvaProtect. We can add the guarantee of funds by segregating trader’s capital on a partner bank account.

AvaTrade fees and rates

Trading fees

On-site brokerage fees depend on the type of financial instruments traded and are calculated either in pip or as a percentage of the AvaTrade spread. Even if they are not the cheapest on the market, especially for forex, brokerage fees are still quite low. Smaller portfolios will not feel robbed by strong pressure from the broker. To give a few significant examples:

  • for currency pairs, the commission varies between 1 and 2 pips for the most common currencies
  • most shares are subject to a spread of around 0.13% of the volume of the order placed
  • crypto currencies have commissions of around 0.5% on average

The fee schedule is available on the AvaTrade website in great transparency where each financial product is presented with the associated brokerage fees.

Non-trading expenses

We have already noted that deposit and withdrawal operations are not subject to any charges. Admittedly, there are few other account management fees to be expected. Like others in the market, it is imperative to be very careful about the inactivity of one’s trader account. There are two categories to be aware of:

  • from 3 consecutive months without placing an order
    • 50 for accounts in US Dollars (USD)
    • 50€ for portfolios in Euro (EUR)
    • 50 for Pound Sterling (GBP) accounts
  • from 12 months of inactivity of the trading account
    • 100 for USD portfolios
    • 100€ for sales in EUR
    • 100 for GBP accounts

Financial markets and products

AvaTrade fulfils its role as a Market Maker for its clients perfectly. It is a CFD broker with a wide range of financial instruments on which to speculate on rising or falling prices. Most of the major stock exchanges are accessible for a very representative panel of investment opportunities: Paris, New York, Amsterdam, Tokyo, etc. The system is based on the power of the MetaTrader 4 and 5 series, which offers a high level of intuitiveness, responsiveness and technical analysis quality. From the AvaTrader beginners’ version, the range of financial tools and products is large enough to develop a solid and sustainable asset portfolio. Available for trading :

  • 50 world-class currency pairs
  • a selection of dynamic stock market indices: CAC 40 for example
  • raw materials: gold, oil, silver, gas, etc.
  • a selection of the most dynamic crypto currencies on the market: Bitcoin, Ethereum, Litecoin, Dash, Ripple, etc.
  • a wide variety of actions and ETFs

In total, more than 250 financial instruments are open for trading. Investors have the possibility to switch to a Pro account with additional options to be able to manage large volumes using MT5: instant orders and automatic trading among other things. Of course, AvaTrade’s leverage is a great way to boost investment capacity. Up to 30:1 on currencies. A very effective way to boost earnings. Care must be taken to use it sensibly to avoid premature bankruptcy.

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Conclusion

We recommend without hesitation the use of AvaTrade as a broker. It is an extremely efficient and well-designed trading platform. All levels of traders feel comfortable on the site. The demo account contributes to a quick start. Relatively low brokerage fees do not directly exclude small portfolios. The wide variety of products to trade, markets to exploit and management tools make the experience truly comfortable. The mobile platform makes no difference to the computer version. A little work on the pedagogical support would be a real plus that would reinforce the feeling of security offered by the customer service.

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