AvaTrade Review Is it a Scam or Legit Broker 2024

avatrade scam

Yes, they provide a demo account with virtual cash, allowing new and experienced traders to test their strategies and get acquainted with the platform’s risk-free features. AvaTrade, a Market Maker broker, incorporates broker fees into fixed spreads and executes orders using proprietary procedures. It offers traders access to the interbank market and large positions from various liquidity sources.

Is AvaTrade a trusted broker?

Still, there are also some downsides to the site, and we will give you an overview of the usability of AvaTrade in this section. AvaTrade has 300,000 registered traders who place more than 3 million trades each month and has executed more than $1.47 trillion in traded value since inception. Its range of tradeable markets has nearly doubled year-over-year, and spreads for clients designated as Professional traders in the EU are quite competitive.

Is AvaTrade good for beginners?

AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader.

Is my money safe in AvaTrade?

  1. The broker website also supports a detailed FAQ section which addresses many of the most common questions you may have at any time.
  2. Moreover, the whole multiple regulation thing seems pretty plastic and overdone.
  3. AvaTrade only provides trade-in forex and cryptocurrencies.
  4. The broker must provide information regarding the account types for traders to decide which account type suits them the best.

Overall, AvaTrade can be summarised as a trustworthy and highly regulated Forex Broker that is very competitive in terms of its trading fees. They offer an easy-to-use social copy trading platform with excellent customer support and a trust score of 97 out of 99. The minimum deposit at AvaTrade is generally 100 units of currency, depending on the denomination of your account balance.

🆓 What is the AvaTrade minimum deposit?

avatrade scam

Additionally, whilst there is a dedicated section for trading education, I think the whole site in general is very informative for online traders. The broker’s copy trading platform, AvaSocial, lets you replicate the positions of successful investors, either manually or through the automated service. However, the biggest advantage is that there is no time limit – making it an excellent tool for beginners looking to continue testing strategies after opening a live account. Demo trading accounts at most competitors I have reviewed automatically close after days. The different fields relating to stop-loss, and take-profit orders, could be selected and adjusted easily.

AvaTrade Review 2024

avatrade scam

AvaTrade is for the novice investor who seeks to gain a basic understanding of forex and CFD trading. With a product suite that offers variety, reasonable spreads, and a choice of user interfaces, it’s ideal for new and undercapitalized traders who want to build on limited skill sets. There are a total of 57 video tutorials available through the AvaTrade educational section which provide you a detailed guide through many aspects of forex trading. You will also have access to a number of additional resources including helpful ebooks, and a selection of free webinars that you can attend.

For research purposes, we do not see anything mentioned on the website. There are no tools, calculators, or calendars available with the broker. For the education of traders, limited tutorials are available that does not help the cause and investors find it extremely difficult to cope up with the broker. When you visit the website of AvaTrade, all you can see are boastful claims without any data to back those claims.

Vincent has been very helpful making sure my account setup went smoothly and that I have access to all the information I need to be a successful trader. The support staff from the company called immediately, notified me via email and whatsapp and he guided me PERSONALLY with a whole lot of issues that i had. THIS also took his time and call to clearify me on multiple levels. Customer service is responsive and professional, which makes a big difference. I feel confident trading with AvaTrade, knowing that I have reliable support whenever needed. These activities would only help the broker and not the investor.

It goes against our guidelines to offer incentives for reviews. We also ensure all reviews are published without moderation. We use dedicated people and clever technology to safeguard our platform.

avatrade scam

We received one or more reports that this website may be selling fakes. Buying fake products can be dangerous to your health (especially medicines). In addition, fake product producers hardly ever care for the environment or social welfare of their workers. While we understand that fake products are a lot cheaper and therefore interesting to buy, be aware that many fake product sellers also do not deliver. Check our blog post “How to recognize counterfeit products” for more information. I spoke to someone this morning I am new to your service but nothing new to trading, but getting familiar with things on this new platform.

avatrade scam

Start trading with leverage products in more than 1,250 different markets. The range of markets starts from forex to cryptocurrencies. It is easy to open short positions in stocks via CFDs (Contract For Difference) with AvaTrade. We recommend trying it first with the free demo account. The broker RoboForex is a great option with very low spreads and fees for less popular Forex pairs or assets. With more than 12,000 assets to choose from, you will never run out of options if you sign-up with this broker.

FX Options are very popular in open trades at a certain time horizon. Another advantage is that you can receive trading signals from professionals. The MetaTrader is clearly one of the best trading platforms. We recommend using version 5 because it has more functions and is more user-friendly. The broker offers anything you need for trading successfully on the markets.

These costs apply when the deposited monies are not in a recognized deposit or base currency, requiring conversion to the currency designated for the trader’s account. No extra fees will be applied on deposits and withdrawals across all available transaction methods. AvaTrade offers a commission-free trading environment in South Africa.

Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker avatrade review – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. The Central Bank of Ireland is one of AvaTrade’s many regulators, and AvaTrade segregates all client https://forexbroker-listing.com/ money from its own business funds. AvaTrade is also WebTrust compliant, and follows best practices to secure client information in terms of cybersecurity. Yes, based on your detected country of FI, you can open an account with this broker.

Payments by credit and bank cards are processed almost immediately. The broker also accepts payments via wire transfers, PayPal, Neteller, Moneybookers, and WebMoney. With the Ava Debit Card feature of AvaTrade, clients can withdraw funds with no paperwork delaying the process; otherwise, it can take up to five days for the money to be transferred. AvaTrade fees are generally fair, and they do a good job at trying to limit these as much as possible. You should not typically incur a deposit or withdrawal fee with the exception of if you are using a wire transfer, or exchanging an unsupported base currency. As with all CFD broker, they do charge overnight fees, though these can be waived if you open an AvaTrade Islamic trading account.

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