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Forex

Fail

A total fail. So inefficient. It was a nightmare to close my account. I stayed in touch with the customer service by emails and chatting directly. They were giving different information. The card that I used for the deposit had expired, so they couldn't give back the money to that card. So they were saying that I needed to provide an official document to prove that the card had actually expired. After that they would have been able to pay me back with a bank transfer (with the bank details that I had provided). Whereas the other was saying that I needed to make a new deposit by card and then they would have provided to give the money back through the card. Finally we agreed for the bank transfer. I asked if a foreign bank account was fine and they said ok and finally, when everything seemed ok and they just had to make this transfer, they said that they couldn't because the provided bank account was foreign. So inefficient and slow just to close an account. Furthermore, it is impossible to definitively delete the account, meaning that my login and password will always work, just that I don't have money on it. This is really not "clean". Why they have to keep my information such as name, email, phone, if I am not using Avatrade anymore and want to delete the account? Very unprofessional, different people saying different things. And informatically also not really a good system.

alex 2017-08-09
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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