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AvaTrade is an infamous service provider reputed to be the best broker for beginners in the UK. Our team dedicated many hours to researching and assessing this broker. We discovered many aspects that make it ideal for beginners and professionals, from world-class educational resources to top-tier trading platforms like MT5.
Our comprehensive AvaTrade review covers the most noteworthy elements we unearthed while testing and evaluating this trading platform. With the insights we’ve provided here, you will be better positioned to determine if AvaTrade is ideal for you.
In This Guide
Our Opinion about AvaTrade
Like all other trading platforms, AvaTrade has numerous pros as well as a few cons. That said, we recommend this service provider since trading with it comes with more upsides than drawbacks. Here’s a list of the pros and cons we experienced while researching and trading with AvaTrade:
AvaTrade
✔Free deposits and withdrawals
✔Beginner-friendly user interface
Pros & Cons
Pros
- Regulated by outstanding authorities like the FCA, ASIC, and the CBI
- Offers first-rate educational courses and materials
- Hosts a wide variety of trading platforms, including MT4 and MT5
- Free deposits and withdrawals
- Allows traders to get coverage against losses of up to £1 million
- Intuitive and beginner-friendly user interface
Cons
- High inactivity fees than its peers
- Limited financial instruments compared to other outstanding brokers
- Supports forex and CFD trading exclusively
Security & Regulations
If you are searching for a highly secure broker, look no further than AvaTrade. Why? First and foremost, the AvaTrade broker complies with strict mandates set by the FCA in the UK. In addition, this company is authorised and regulated by numerous reputable authorities, including the Central Bank of Ireland (CBI), the Polish Financial Supervision Authority (PFSA), and the Australian Securities & Investment Commission (ASIC). Other notable organisations that regulate this service provider range from the B.V.I FSC and the FSA to the FSCA and the ADGM.
Since AvaTrade is multi-regulated, it complies with many mandates that make it one of the most secure trading platforms today. For instance, it keeps client money in segregated bank accounts and uses advanced encryption to optimise website security. Furthermore, AvaTrade prevents identity theft and credit card fraud with the renowned McAfee’s Hackersafe security service.
Note: AvaTrade CBI regulation in Europe only applies to members of the European Union. This also means that some countries in the EU have other financial authorities regulating their activities.
Platforms
Our exploration began on AvaTrade’s official site. Luckily, it’s neatly designed and easy to navigate. The most crucial tabs are at the top of the page, which is incredibly convenient. While evaluating the broker, we noticed that it allows users to choose their preferred trading platforms from the following excellent options:
- WebTrader: With this platform, you can trade different markets without a dedicated app. All you need is a quality browser and a good internet connection. It’s ideal for beginners and seasoned pros.
- AvaTrade App: This mobile app allows you to trade from your iPhone or Android smartphone. With it, you can manage multiple MT4 accounts, practice in demo mode, and leverage numerous incredible tools, including powerful charts and real-time insights.
- AvaOptions: This is a powerful desktop trading platform that allows professional options traders to take their game to the next level. With AvaOptions, you can do everything from trading spot currencies from charts to setting different PUT and CALL options combinations with one account.
- MetaTrader 4: MT4, an infamous trading software, is hosted on AvaTrade. After opening your AvaTrade account, you can choose it and enjoy numerous perks, including a user-friendly interface and advanced analytical tools. Since MT4 is power-packed and incredibly user-friendly, it’s ideal for novices and experienced traders.
- MetaTrader 5: You can also use an AvaTrade account to trade with MT5. This platform has countless juicy features, including advanced auto trading systems, copy trading functionalities, and superior technical tools. What’s more, as a UK trader, you can use MT5 to switch to spread betting, which is associated with boons like tax-free returns.
- AvaSocial: This platform lets you connect with fellow traders and copy strategies experts use to conquer the markets. If you are a beginner or intermediate trader, AvaTrade offers you the golden opportunity to reach your financial goals and learn from the most successful online traders.
- Mac Trading: As the name suggests, this platform is primarily for Mac users. It comes with all the professional analytical and charting tools you need to trade seamlessly from your Macintosh device. Additionally, it features browser-based terminals that make it incredibly easy for every Mac user to log into their accounts and open or manage active trades.
- Automated Trading: AvaTrade UK offers this platform to traders who’d like to enjoy the benefits of automated trading, including reduced emotions and impulsive decisions. With it, you can fully automate trading by copying other seasoned traders or using advanced bots and software.
Fees & Commissions for UK Traders
Before going any further, note that there’s an AvaTrade minimum deposit requirement for UK traders. Fundamentally, this service provider requires Britons to fund their account with at least £100 while using supported payment methods like wire transfer, credit card, and e-payment. You should keep that in mind while funding your trading account.
That aside, while evaluating AvaTrade, we discovered that this broker has numerous fees and costs. For starters, it requires dormant account holders to pay a £50 inactivity fee. It kicks in after 3 successive months of dormancy, and the broker charges it after every 3 months.
Additionally, dormant AvaTrade accounts incur a £100 annual administration fee that takes effect after 12 months of inactivity. Not to forget, while trading with AvaTrade, you’ll have to cover an overnight premium whenever you keep a position open after the stipulated overnight funding time, which is 22:00 GMT.
Regarding spreads and commissions, AvaTrade is one of the most affordable brokers in the UK. With this platform, you will enjoy reasonable spreads starting from 0.13% while trading popular instruments like Tesla and Amazon shares are involved. AvaTrade doesn’t require traders to cover any commissions. The broker uses the Bid-Ask spread to compensate itself.
Product Offerings
AvaTrade offers 1,250+ financial instruments. With this broker, you can trade everything from FX pairs to CFDs on stocks and indices. Here’s a detailed overview of all of the products offered by AvaTrade:
- Forex pairs: AvaTrade allows users to trade over 60 currency pairs 24/5. Popular options range from GBP/USD and EUR/USD to EUR/GBP and USD/JPY. The platform also offers other minor and exotic pairs like GBP/NZD, USD/CLP, and GBP/SGD. Some of these instruments have tight spreads starting from 0.9 pips.
- Cryptocurrencies: If you are a crypto enthusiast, you can use an AvaTrade account to trade CFDs on a wide variety of assets, including Bitcoin, Ethereum, and Stellar.
- ETFs: AvaTrade supports CFD trading on popular ETFs like the MSCI EAFE Index Fund, the Energy Select Sector SPDR, and the iShares U.S. Aerospace & Defense ETF. All of the available ETFs have a 0.13% spread.
- Stocks: Upon opening an AvaTrade account, you will get the opportunity to trade CFDs on stocks associated with respected companies like Google, Apple, and American Express.
- Bonds: AvaTrade allows clients to trade CFDs on European, US, and Asian government bonds. Available products include EURO-BUND and JAPAN GOVT BOND.
- Commodities: If you are interested in commodity trading, sign up for AvaTrade. You’ll have an uncapped opportunity to trade CFDs on hard commodities like gold and soft commodities like corn.
- Indices: You can trade index CFDs on AvaTrade and avoid the hassle of analysing the performance of individual company stocks. The index-related products offered here range from the Cannabis Index to the US100 Index.
AvaTrade Support Service
AvaTrade has a rich and extensive FAQ page. If you’re facing any problems or have a question, search for a good answer in this section. If you don’t find what you’re looking for, you can seek help from AvaGuide, AvaTrade’s chatbot, or contact live customer support.
The AvaTrade support team is available 24 hours a day, Monday through Friday. You can contact this company’s representatives through email or WhatsApp chat. Phone support is also available on the Ava trading platform. We tested all available channels and received prompt responses, so we highly recommend them.
How to Sign up For an Account at AvaTrade
AvaTrade is a beginner-friendly broker that has simplified everything, including the account registration process. Based on our experience, we expect you to spend a few minutes setting up a new account. Here’s all you need to do:
Step 1: Visit AvaTrade’s official site
Step 2: Open a new account
Step 3: Complete verification
Step 4: Fund your account
Step 5: Trade
Visit AvaTrade’s official site and examine everything, from available markets to trading platforms. If you are interested in mobile trading, download the AvaTrade App.
Click “Open Trading Account” and submit the required information, including your name, email address, and phone number. Remember to enhance security by setting a strong password.
Back up the information you’ve provided with valid documents. You can share a copy of your ID card for proof of identity. On the other hand, you can use a recent utility bill to validate your address.
After account verification, fund your account with a minimum of £100, as per AvaTrade requirements. You can use a supported payment method like wire transfer or credit/debit cards.
Choose an instrument and start trading. Remember, you can trade diverse assets on AvaTrade, including FX pairs and CFDs on cryptos, indices, and commodities. If you are a newbie, we strongly urge you to start with small capital and test the waters before going big.
Conclusion
AvaTrade UK is an ideal trading platform for all levels of traders, especially novices. It offers everything that beginners need to thrive, from a user-friendly interface to free demo accounts and unparalleled educational materials. That said, trading is risky. If you are starting out, spend as much time as you can learning the basics and fine-tuning your skills.
InvestingGuide Rating:
✔Free deposits and withdrawals
✔Beginner-friendly user interface
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Risk Warning
76% 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.
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