AVAtrade is a well-established brokerage company that has been around since 2006. Operating under the values of integrity, fairness, and innovation, the company has managed to get over 200,000 users. The company has its headquarters in Ireland, but they operate in other parts of the world, such as Paris, Tokyo, Sydney, and Nigeria, among many others. They, therefore, have different sets of regulations according to each country of operation. This mode of operation has proven beneficial to the company because it has helped them build a good reputation that makes them seem trustworthy to most people. The company is also known for its multiple 3wtrade options, something that most clients find appealing.
The website of this company has been adequately laid out to make it easy to go through. The information has been appropriately structured, and the pages have all been adequately lined up on the menu. Apart from the list, they also have a search bar on the home page of the website. All these are necessary for making the website navigable. The search bar may not be required, but its presence increases the convenience with which traders can use the site. The accessibility of the website is also shown with the availability of multiple language options. This is necessary given the various locations the company operates on.
Another additional feature of the website if the automatic detection of the country. You’ll get the customer support number of the region the trader is accessing the site from. The home page also has a login and registration button as well as a live chat button. Several subcategories are also listed at the bottom of the home page. All these make the site easy to navigate and use even for a first time trader.
AVAtrade trading features
AVAtrade boasts of having some of the best features for traders on the platform. The trading section is the website that contains several features such as autochartist that help traders spot trading opportunities and also detect price changes. Another feature is a calculator that enables traders to determine whether they are making profits or losses. Economic calendar and earnings releases Listings are other features found on this platform. These provide details of trading events and predictions of earnings information, respectively. These tools are excellent for savvy and novice traders alike. The company also has other features tailored to their different locations of operations.
AVAtrade has multiple account options, including corporate accounts. They have a demo account that one can use to familiarize themselves with the platform and sharpen their trading skills. This account is only valid for 21 days, after which it automatically closes. There is an option of extending the report, but the user has to contact the customer service team before the 21 days elapse.
There is also an Islamic account that is based on Sharia Laws. Because of this, this account may lack some of the features, including those used in cryptocurrency trading.
Professional accounts are also available, but they come with some regulations. The trader has to have at least Â£500,000 cash and financial instruments, large transactions of at least 10x per quarter, and at least one year experience in the financial sector.
The corporate account requires more documents such as Corporate Board Resolution, Articles of Association, Certificate of Incorporation, and Memorandum, among others.
AVAtrade Deposits and withdrawals
The minimum deposit amount is 100 units. The currency depends on the location of the trader. The deposits can be made using multiple electronic payment methods, as well as credit cards and wire transfers. The electronic payment options differ depending on the location, and some regions like Canada may not be able to use credit cards either. Third-party deposits are allowed, but the process is usually long and tedious. Both person paying and the person whose account is being used has to provide proof of identity before the deposit is approved. Processing the deposit takes different durations depending on the payment method used. Electronic payments can take as little as 24 hours, while wire transfers can take as long as seven days.
Withdrawals are usually processed fast on this platform, generally within a day. This duration may vary depending on the method of removal used. There are several regulations, though, like account verification. The withdrawal method also has to be the same as the deposit method. Those using credit cards must also withdraw 200 percent of the deposit before they can start using other methods. Those who use third parties to deposit must also withdraw 100% of that deposit using the same way before they can change.
Like other established brokerage companies, AVAtrade offers some of the most competitive spreads. This is believed to have improved in the last few years with the availability of fixed and variable spreads. They also have administration fees and inactivity fees. The inactivity fee is paid when the account owner fails to use the account in three months. The administration fee is applicable when the account remains dormant for 12 months. Both are automatically deducted directly from the account.
Apart from the demo account, the company also has several educational materials for their traders. Beginners have their section, and they also have an ebook and economic indicators. The educational article covers details of every section, which provides in-depth knowledge of the trading. There are also specific and detailed definitions of terms and techniques relevant to trading.
AVAtrade offers support in different ways, starting with the live chat button to phone numbers. They also have a contact page with the option of sending emails or calling. The phone numbers are for every region the company is available in. Their response time isn’t immediate, but they always respond to their traders. The brokerage also has physical offices in all the regions they operate in.
The fact that AVAtrade has been around for a long time. The fact that they operate in different parts of the world, each with their regulations, shows why so many people would choose to trust this company. The availability of multiple trade options, the security of the company, and customer service and support are also other benefits that drive people into trading with the company. Because of these, they have managed to earn the trust of many people and become successful in an industry where many companies fail. However, like every other brokerage, they don’t guarantee profitability to their traders. Traders on this platform stand a chance of losing their money just like any other platform, especially as beginners.