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AvaFX advantages and disadvantages

Advantages

Ava Fx customer accounts are audited quarterly by Ernst & Young.
Ava Fx customer funds are kept in Commerzbank of Frankfurt, which is one of Germany’s leading financial institutions. So the financial linkages are excellent.
AvaFx website lists out the entire management team, and that it is indeed a comforting feature to have.
An Ava Fx account can be opened in less than 5 minutes if information is entered correctly.
This site offers e-currency exchange rates to its customers. E-Gold can be exchanged to Web money or Liberty Reserve.

Disadvantages

There is no Meta trader 4 software support.

compare-forex.com 2009-11-02

AvaTrade is a part of the Ava Group, an international company operating out of Ireland, British Virgin Islands, Australia and Japan. The brokerage offers excellent benefits to its customers – starting from a first deposit bonus ranging from $100 to $5,000, Refer-A-Friend bonus of up to $150, private dealers, free trading signals, and the AvaSelect VIP club, where members enjoy express withdrawals, customized trading terms, tailored educational programs and special gifts among other things.  

 
The one thing we are not crazy about are Ava FX's fixed spreads, which are way too high for the industry standard – 3 pips on EUR/USD for example. While fixed spreads can protect you from the spread widening which may occur at the close of markets or during major news releases, we would much rather trade with a broker offering capped variable spreads. And as if this is not all, the broker's average slippage is 2.3 pips, which is super high. 
 
The high spreads and slippage will also impact your automated trading – Ava FX offers the ZuluTrade, Mirror Trader, Currensee and Ayondo social trading platforms, and all these charge commissions for copying signals. Add these commissions to the spreads, and you end up paying a lot more than you should. 
 
The platforms Ava FX's clients can choose from are Metatrader 4 (MT4) and its own Ava Trader. We have tried the latter and we find it to be a bit cluttered and unresponsive, so we would rather opt in for MT4. 
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
Cyprus CySec, FCA MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, South Africa CySec, FSCA, FSC MT4, Web $5 Review Website
UK FCA MT4, AT Pro,
Advantage Web
£100 Review Website
Seychelles FinaCom MT4, Web $10 Review Website

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UK’s FCA warns of unregulated forex broker Gallant Finance

Aug 15 2018 14:30:57, Jonathan Smith in Market

    UK’s Financial Conduct Authority (FCA) has warned the public in an official statement on Tuesday that forex broker Gallant Finance is not authorized to offer its services in the UK.   “This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorization,” the FCA said in its official notice.   Gallant Finance is allegedly owned by the Saint Vincent and the Grenadines based Allmedia Limited. Previously it claimed to be operated by Gallant Private Financial Group. Read more

The Central Bank of Ireland warns against 8888Markets

Aug 14 2018 13:28:01, Jonathan Smith in Market

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FXTM honoured with two World Finance Awards

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Aug 09 2018 12:46:34, Jonathan Smith in Market

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Germany’s BaFin orders Stern Options, Stern Markets, and Weiss Finance to halt operations

Aug 08 2018 14:17:08, Jonathan Smith in Market

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UK's FCA updates its warning list with Prestige FM, FXFWay and Yes Trading

Aug 07 2018 13:54:48, Jonathan Smith in Market

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UK’s FCA blacklists unregulated forex broker Glenmore Investments

Aug 06 2018 08:44:19, Jonathan Smith in Market

  The UK Financial Conduct Authority (FCA) added GoldTech Media Services OÜ to its ever-growing list of unregulated companies providing financial services in the country.  The company operates Glenmore Investments and S2Trade brokerage brands and provides an official address in Estonia.   “This firm is not authorised by us and is targeting people in the UK,” said the FCA in its notice, and advised investors to be especially wary of dealing with this unauthorised company.   We would also advise our readers to stay away from this firm, as it appears that a lot of traders have already been scammed by both brokerage brands of the firm. Read more

CySEC slaps fine on InstaForex and ForexMart parent

Aug 03 2018 09:26:17, Jonathan Smith in Market

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US CFTC sues the offshore based forex broker JAFX Ltd.

Aug 01 2018 13:33:55, Jonathan Smith in Market

The Commodity Futures Trading Commission (CFTC) in the US says it has filed a civic enforcement action against a offshore based broker JAFX Ltd., which is registered on the St. Vincent and the Grenadines.   CFTC accuses JAFX Ltd. to be operating as a forex and CFD broker without a license and soliciting or accepting orders from U.S. retail customers without being registered with the CFTC as a retail forex dealer, as required by the US law.   According CFTC from September 2016 to the present moment  JAFX is operating as a retail foreign exchange broker, without being registered with the CFTC and without providing customers with the required Risk Disclosure Statement. Read more

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