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Forex

Better avoid AvaTrade

Avatrade stopped allowing me to top up my account for "regulatory reasons" WITHOUT notice, which lead to a margin call and I lost approx. 5k EUR because of that.
Their support (on the phone and by writing) was utterly useless, they didn't even try to help, just made empty promises to "find an amicable solution", which never happened by the way.

Will have to take legal actions against them and I'll probably win that case. But who wants to deal with lawyers and courts in an international lawsuit , it's just avoidable and a waste of time.

Conclusion: AVOID AVATRADE LIKE THE PLAGUE IF YOU WANT TO KEEP YOUR HARD EARNED MONEY!

PS: There is a deadline until July 21st, I'll update this review IF I'll get reimbursed.

Thomas 2017-07-19
Forex

AvaTrade Review, Rating and Comparison

AvaTrade Review & Rating | AvaTrade Forex Broker

Headquarters:  Dublin Exchange Facility, IFSC, Dublin 1

Country: Ireland

Regulated by: Central Bank of Ireland, ASIC, FSA Japan, MiFID compliant

AvaTrade offer various instruments including Currencies, BITCOIN, CFD’s, FX Options and many others

Trader's rate 2
Editor's rate 3.20

AvaFX Account Info:

minimum deposit: $100

minimum lot size: 1k

max leverage: 1:400

 

Spread:

Variable, from 1 pip on EURUSD 

Fixed, 3 pips

 

Deposit/Withdraw

Bank Wire, Credit card,  PayPal, Moneybookers, Liberty Reserve, Web Money, Neteller

 

Platform:

Metatrader, Custom Trading platform, Mirror Trader, ActTrader

 

Forex Signals and social trading:

Zulutrade, Tradency, Currensee, Ayondo, API

 

 



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. 
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