AvaTrade Broker Review

One drawback is that the platform is not customisable, and traders can’t change the size and position of the tabs.  The platform also does not allow traders to set price alerts and notifications. More advanced traders may prefer MT4 or MT5, both available at Avatrade, which allows traders to customise their indicators, has many more chart types, and algorithmic (or automated) trading.

We were pleased to note that Trading Central, one of the most popular third-party trading tools on the market, is fully integrated into the platform and provides technical insight and instant pattern recognition.

Metatrader 4 (MT4)

We found that like most brokers, the Avatrade MT4 platform is the standard version with 24 graphical objects and 30 built-in indicators. Unlike Avatrade’s proprietary web trader, algorithmic trading is available, and MT4 is fully customisable. 

As you can see below, only the basic orders are available, Market, Limit, Stop, and Trailing Stop. 

Metatrader 5 (MT5)

MT5, the newer version of MT4, is also available at Avatrade. The difference between the two platforms is that MT4 is a Forex-only platform, while MT5 allows trading on all the assets available at Avatrade. We recommend using MT5 if you are looking for a more powerful and faster trading platform when it comes to back-testing functionality for automated trading algorithms.  Additionally, traders prefer MT5 for its depth of market display, additional technical indicators, and analytical tools. 

AvaOptions

AvaTrade allows trading on vanilla options. Options trading provides traders with opportunities to benefit from more than just the 2-dimensional nature of Forex trading. Vanilla options are available on more than 40 currency pairs, gold and silver. Trading options can be a complex undertaking, but the AvaOptions platform simplifies the process. 

Platform Overview:

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Broker

Platform Choice

Copy Trading

Platforms

AvaTrade

4.5/ 5

Yes

MT4

MT5

Avatrade Social

AvaOptions

Oanda

4.5/ 5

No

MT4

MT5

XM

4.5/ 5

No

MT4

MT5

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Opening an Account at AvaTrade

We found Avatrade’s account opening process to be fast and hassle-free compared to most other brokers. 

It took us about 5 minutes to open an account at AvaTrade, and once our documentation had been submitted, our accounts were ready for trading immediately. We were also pleasantly surprised to receive a phone call from customer service to assist with any troubleshooting issues.

As a Malaysian trader, you are eligible to open an account at Avatrade as long as you meet the minimum deposit requirement of 100 . 

Creating an account is fast and fully digital, and accounts are usually ready for trading in a matter of minutes. 

How to open an account at Avatrade:

1. After clicking on the “Register now” button at the top of Avatrade’s main page, we were given a choice to open either a Real or a Demo account. We selected the Real Account option.
   
2. We were then directed to Avatrade’s intake form, which required us to fill in our name, and email address and choose either an individual or joint account. 
   
   
3. Next, we were asked to complete a short form to help Avatrade assess the state of our finances and trading knowledge. Many brokers omit this step in the account-opening process, but it is a responsible move in an industry that is often accused of not protecting customers.
   
   
4. Lastly, Avatrade needed at least two documents to accept us as an individual client; these are:

• • Proof of Identification – current (not expired) coloured scanned copy (in PDF or JPG format) of a passport. If no valid passport is available, a similar identification document bearing a photo such as an ID card or driving licence will work.
  • Proof of Address – a Bank Statement or Utility Bill. Please ensure, however, that the documents provided are not older than 6 months and that the trading name and physical address are clearly displayed. Documents can be scanned or sent through as a high-quality digital camera picture.

Once all documents had been received, our account was ready for trading within a matter of minutes. 

Avatrade’s account opening process is fast, hassle-free, and fully digital compared to other similar brokers. 

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Avatrade’s Research and Trading Tools

Avatrade’s market research is average compared to other similar brokers, and most of the research is curated by third-party providers. It also offers the services of Trading Central, a world leader in technical and fundamental analysis.  

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Broker

Autochartist

Trading Central

Trading View

AvaTrade

No

Yes

No

Oanda

Yes

No

No

XM

No

No

No

Research is available through the web trading platform, the MetaTrader platform, the AvaOptions trading platform, and on Avatrade’s website:  

• Trading Central: Trading Central is a third-party company that provides Avatrade’s clients with market insight and trade analysis.  These products are available through Avatrade’s proprietary interfaces (WebTrader and AvaTradeGO) and via notifications (SMS/email/push). The market insight provided by Trading Central helps inform traders’ strategies and trading plans and is created by expert analysts. 
  The tool helps to merge the views of these experts with automated algorithms and offers pattern recognition to trigger trading ideas. Trading Central also delivers a daily strategy newsletter, combining both technical and fundamental research directly to your inbox. Trading Central also provides an updated news feed for each asset, which also comes with a sentiment score for that asset.  An additional feature of Trading Central is the Trend Analysis, which predicts whether assets will rise and fall and by what percentage.
  
  
• Blog: Avatrade also provides a blog covering daily market movements, including relevant news, in addition to a regular market commentary presented in video format.
  
  
• Economic Calendar: Avatrade’s Economic Calendar provides a good selection of fundamental data. It also offers a feature that allows traders to gauge historical volatility and trends, including an “impact” button to see how various prices were affected by certain news updates. Note that traders will have to sign up for an account to view this premium content. 
  
  
• Trading Calculator: Like many brokers, Avatrade offers a trading calculator to help traders calculate the potential profits, losses, and costs of trading.  The calculation outcome will help traders decide if or when to open a position, what margin is required, and the cost of trading.
  
  
• AvaProtect:  This unique trading tool allows ‎clients to purchase protection against losing trades for a specified time. Any losses will be fully refunded if a trade is closed during that period.  While the AvaProtect feature is active, traders will still be able to benefit from any gains on a position. The cost of AvaProtect changes according to the market and size of the trade.  AvaProtect is also available on the AvaTradeGO App.  Note that this feature is not available on limit orders, only on market orders. 

Overall, while Avatrade’s in-house team does not provide as much market analysis as is available at other large international brokers, it provides a good set of third-party tools to help its clients make trading decisions. 

Social Trading

We found that AvaTrade offers an excellent and varied social trading experience compared to other brokers. 

We were pleasantly surprised to find that Avatrade offers two copy trading platforms and its own social trading platform:

• Duplitrade, a third-party copy trading platform
• Zulutrade, also a third-party copy trading platform
• AvaSocial, Avatrade’s proprietary social trading platform

Duplitrade: Duplitrade is a popular copy trading platform that can link to the MT4 trading platform. DupliTrade allows traders to automatically duplicate the actions of expert traders (with proven histories) directly into their AvaTrade trading account. However, traders will have to deposit a minimum amount of 2,000 USD to access Duplitrade, way above the required minimum deposit.  We thought this offering was expensive compared to other similar brokers.

Zulutrade: Another firm favourite is Zulutrade, a popular auto trading platform. ZuluTrade converts experienced traders’ recommendations and automatically executes the trades in your AvaTrade account.

We also like the fact that although Zulutrade offers automated trading, copy traders can monitor all open positions in real-time and have full control over their funds.  Copy traders can choose from a large set of experienced and high-ranking traders with many followers.  In order to open a copy trading account, you should click on “New Account” and select Zulutrade as the trading platform.

AvaSocial: AvaTrade clients can also download the broker’s social and copy trading platform – AvaSocial. Available on iOS and Android devices, the mobile app allows clients to replicate the trades of successful investors. You can opt to trade on market signals manually or to follow a fully automated service. 

Users can interact with other traders via community channels, ask questions on specific strategies, find out more about crypto markets, or seek a trading mentor, making it a great tool for beginner traders.

Overall, Avatrade offers a comprehensive social and copy trading experience compared to other brokers. 

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Broker

Autochartist

Trading Central

Trading View

AvaTrade

No

Yes

No

Oanda

Yes

No

No

XM

No

No

No

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AvaTrade’s Educational Material

Avatrade provides an excellent selection of educational materials compared to other similar brokers.  The education section caters to both beginner and more experienced traders alike. 

We found that Avatrade’s library of educational materials is world-class and on par with some of the best brokers in the world.  Education comprises trading videos, a trading beginners section, correct trading rules, online trading strategy guides, order types, technical analysis indicators and strategies, economic indicators, market terms, and a free trading e-book.  These materials are in-depth and well-structured and cater to both beginner and experienced traders.  Avatrade also offers a demo account for traders to practice their trading:

• Trading for beginners – The Trading for beginners section gives you all the information you need to tackle Forex and CFD instruments confidently. In this section, traders can learn about many trading topics, including ‘What is Forex,’ ‘What is a pip,’ ‘What is Metatrader?’, ‘MACD trading strategies,’ ‘How to read a Forex chart,’ ‘Technical analysis,’ and more.
  
  
• Video Education – AvaTrade’s video section is strong and covers many topics, including Advanced Trading Tools, Beginner Lessons, Forex Trading Strategies, etc.
  
  
• Correct Trading Rules: These guides educate traders on how to trade efficiently and master the basics, and progress to more advanced trading techniques and strategies.
  
  
• Online Trading Strategies: This section covers various online trading strategies, including day trading, swing trading, and financial instruments.
  
  
• Order types: This section covers different types of market orders, pending orders, and conditional orders used on the financial markets.
  
  
• Technical Analysis Indicators and Strategies: CFD and forex traders mostly utilise technical analysis methods in analysing the price changes of their preferred assets. These articles help traders understand price action methods (candlestick types and candlestick patterns, trends, volatility, market cycles, etc.
  
  
• Economic Indicators: These articles outline the types of economic indicators and their importance during trading.
  
  
• Market Terms for Pros: These guides help traders understand all the relevant key terms, gain further knowledge from more professional sites, and participate in interesting trader-centric forums.
  
  
• Ebook – AvaTrade’s Ebook gives traders a good overview of basic Forex terminology and the different groups of currency pairs available. The Ebook also explains how to read a Forex quote and the advantages of Forex trading.
  
  
• Demo Account: AvaTrade’s free demo account is a handy tool to practice your trading, test an expert advisor, or acquaint yourself with how Forex trading works. With 100,000 USD in virtual funds, the demo account accurately simulates AvaTrade’s real account but expires after 21 days.

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Broker

Beginner Course

Advanced Course

AvaTrade

Yes

Yes

Oanda

Yes

Yes

XM

Yes

Yes

Avatrade’s Customer Service

We found that Avatrade’s customer service is excellent compared to other similar brokers.

Customer support is available 24/5 for CFD trading and 24/7 for cryptocurrency trading.  Support is available in a range of languages, including Malay, via email, live chat, and via a local Malaysian telephone number. 

For the purposes of the review, we tested the live chat service and email. Our email was answered within a couple of hours, and the answer was relevant and to the point. We found the live chat agents were polite and responsive, and they were able to answer all our questions. After logging into the live chat, we were connected to an agent who replied to our message within 30 seconds, as shown below:

Safety and Industry Recognition

Regulation: Avatrade has a corporate structure composed of multiple regulated entities that operate in different regions across the world, including South Africa, Australia, Cyprus, Japan, Abu Dhabi, and the British Virgin Islands.  See below for more details: 

• Ava Capital Markets Australia Pty Ltd is regulated by the ASIC (No.406684).
• DT Direct Investment Hub Ltd. is regulated by the Cyprus Securities and Exchange Commission (No. 347/17).
• ATrade Ltd is regulated in Israel by the Israel Securities Authority (No. 514666577).
• Ava Trade Middle East Ltd is regulated by the Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA) (No.190018).
• Ava Trade Japan K.K. is licensed and regulated in Japan by the Financial Services Agency (License No.: 1662), the Financial Futures Association of Japan (License No.: 1574).
• Ava Capital Markets Pty is authorised and regulated by the South African FSCA (licence number No.45984).
• Ava Trade Ltd is regulated by the British Virgin Islands FSC No. SIBA/L/13/1049.
• AVA Trade EU Ltd is compliant with MiFID and is regulated by the Central Bank of Ireland, Reference No.C53877.

Industry Recognition: In addition to being regulated by several national authorities, AvaTrade has received widespread industry recognition for its excellent trading conditions and innovations.  Recent awards include:

• Most Trusted Trading Platform Europe 2022 (International Business Magazine)
• Best Mobile Trading Platform 2022 (Investingoal)
• Best Overall Broker 2022 (Daytrading)
• Best Broker UK 2022 (World Economic Magazine)

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Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process. Central to that process is the evaluation of the broker’s reliability, the broker’s platform offering, and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded on 200+ metrics across seven areas of interest, and an overall score is calculated and assigned to the broker according to the diagram below:

AvaTrade Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. AvaTrade would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Final Word

AvaTrade is one of the best, largest, and most reputable brokers in the world, and for good reason. It offers a wide range of trading platforms, including its award-winning mobile trading app, AvatradeGO. It also offers a world-class selection of trading tools, including Trading Central, alongside excellent analytical and education sections. 

Although Avatrade’s trading costs are not the lowest in the industry, traders will find them acceptable. Spreads start at 0.9 pips on the EUR/USD in exchange for a minimum deposit of only 100 USD.  One major drawback for Malaysian traders considering Avatrade is that they are onboarded through Avatrade’s BVI-regulated entity, which means that they are not as well protected as their international counterparts. 

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FAQ

Is AvaTrade Safe?

Yes. AvaTrade is an internationally regulated Forex CFD broker.

What is the AvaTrade minimum deposit?

Clients can open a live AvaTrade account for 100 USD.

How do I fund my Avatrade account?

Clients can fund accounts using Skrill, Webmoney, Neteller, ETF, and credit cards. Payments will reflect in your trading account between 1-5 days depending on the deposit method.

How can I withdraw money from Avatrade?

Clients can only make withdrawals via payment methods used to fund your account, with the only exception made for clients who are withdrawing earnings and have already made a withdrawal via the original funding method. Withdrawals are typically processed and sent within 1 to 2 business days.

Does AvaTrade have a demo account?

The free AvaTrade demo account has 100,000 USD virtual funds. The account will expire after 21 days but can be reopened by the support team.