AvaTrade Review 2024: Pros, Cons and Key Features

Why is AvaTrade’s trading platform so popular? We cover the bases.

Updated: May 20, 2024
Matt Crabtree

Written By

Matt Crabtree

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AvaTrade is a trading platform and is regarded as one of the most secure brokers in the industry, with thousands of positive customer reviews and awards relating to the platform's positive attributes. But how reliable is this platform, and should you use it over other trading platforms and alternatives?

In this review, we will assess the key features of AvaTrade whilst weighing up the pros and cons you will encounter if you use the web trading platform, providing comparisons to other market leaders and how they differ from AvaTrade.

What is AvaTrade?

AvaTrade, a trading platform created in 2006, has since welcomed 400,000 registered clients. With over 2 million trades completed per month, it is easy to see why AvaTrade is regarded as one of the best trading platforms.

The platform has substantial financial backing, making it one of the most reliable forex broker platforms.

A big selling point of the platform is that it is available to a range of clients, with novices, intermediate levels, and experts able to open a professional trading account. Additionally, the platform is incredibly accessible, allowing users to include their preferred CFD strategies to reflect their needs.

Combining robust trading strategies with around-the-clock customer support is another reason why AvaTrade is reliable and has loyal customers returning to use the platform time and time again. It is one of the most user-friendly trading platforms, offering compatibility with PC, phones and tablets.

AvaTrade is considered a Market Maker, a type of broker with its own in-house dealing desk. With AvaTrade, your trading is fulfilled for you with a market already made. As a result, spread betting is kept at a low cost, with brokers identifying execution servers closest to users' market trading hubs. 

With a wide variety of platforms available within AvaTrade, traders can get to grips with different types of trading regardless of if they use the mobile or web trading platform option. With nine jurisdictions worldwide and continuous customer support, users are supported and can feel confident when trusting AvaTrade. 

AvaTrade Products

AvaTrade is a cutting-edge trading platform, meaning users don't need to download software or install anything to make the most of the platform.

There are two products AvaTrade offers – CFD trading and Spread Betting. Below, we will take you through each product in detail so you fully understand what you can gain from using this platform;

CFD Trading

AvaTrade's CFDs work similarly to most trading CFDs, reflecting the financial instruments you invest in. Therefore, if a price is to go up, the CFD trading costs will also increase. If you feel the price of a financial instrument is likely to strengthen in value or go down, you can trade CFDs through AvaTrade.

Profits and losses are determined by assessing the difference between the purchase and selling prices, subtracting your spread, and providing you with the broker's fee.

Trading with AvaTrade provides users with powerful trading platforms, such as MetaTrader 5. Access to platforms such as MetaTrader 5 ensures users can begin advanced trading with advanced tools and expert advisors.

Users can also benefit from long and short CFDs, providing the most flexibility regarding trading whilst using the AvaTrade app from any location.

Spread Betting

Spread betting sees users bet on assets they don't own, instead betting on if the value of this asset will increase or decrease. In the UK, spread betting is tax-free, and AvaTrade offers an easy way to do this, thanks to the mobile trading platform being easy to access.

There are definite risks involved with any betting, and spread betting is no exception. However, AvaTrade has been considered one of the UK's most trustworthy trading platforms, currently TrustPilot's highest broker.

How Does AvaTrade Deliver These Products Through its Trading Platforms?

There are several trading platforms that AvaTrade consists of, ensuring that anyone opening up a trading account has reliable options to use. The main platforms that AvaTrade use are; Web Trader, AvaTradeGO, MetaTrader 4, MetaTrader 5 and AvaOptions. Let's take a look into each platform and how you can use them;

Web Trader

Web Trader is an excellent way for those interested in the trading industry but only have a little amount of time to pour into this interest. Instead, Web Trader pushes valuable data and information on live market sentiment towards users, providing substantial knowledge to ensure users make educated decisions.

This part of the AvaTrade trading platform is specifically designed for beginners, with an easy-to-use interface that simplifies online trading like never before. From real-time data on the current biggest trading trends to notifications regarding market must-haves and trading opportunities, Web Trader provides an easy leg up into the interest of forex trading.

AvaTradeGO

Having an AvaTrade account has never been easier, thanks to AvaTradeGO. The AvaTrade mobile trading platform sees users benefit from a simple, modern and innovative dashboard with extensive features such as trading charts and management tools that elevate the ordinary trading experience.

The platform provides step-by-step guidance and support to ensure all users can enjoy the app.

You can switch from spread, demo and real accounts to manage multiple data types and trading accounts from one unified platform.

MetaTrader (4&5)

AvaTrade provides users with access to MetaTrader 4 and 5, two of the most powerful trading platforms accessible to online traders. As the name suggests, MT5 is an upgrade from MT4, but both platforms are excellent for trading; MT5 just has more features and indicators for professional use.

To use MetaTrader, users must open a real account with a minimum deposit of £100. Users can then download the platform and use MetaTrader 5, gaining access to the most powerful trading platform in the world.

AvaOptions

AvaOptions refers to AvaTrade's desktop trading platform, which enables users to download the app onto iOS or Google Play. Users gain complete control of their trading portfolio with optimised Forex options and risk management tools to ensure wise decisions are made throughout trading.

AvaTrade Key Features

Now that we have covered the products and platforms that AvaTrade consists of, it is time to consider the key features integral to online trading and how AvaTrade seamlessly delivers these features to traders of different experience and knowledge levels. Let's dive in!

Trading Position Data

Knowledge of trading positions and which assets are worth investing in is essential to trading Forex. With AvaTrade, users can access data on live market movements, helping users to accurately forecast which positions are worthwhile.

As AvaTrade provides this information in an easy-to-follow graph, users can gain an understanding of the market without needing to pursue extensive research that can be time-consuming. Instead, becoming a professional trader is easier and more efficient than ever.

Going hand in hand with gaining this knowledge is utilising specific tools and techniques to achieve the best trading results.

From market and pending orders to taking profit and stopping loss or viewing trading history and charts, users have various tools at their fingertips, ready to use to their advantage.

Extensive Educational Resources

The main aim of AvaTrade is to provide users with the knowledge they need to become traders. AvaTrade ensures this is possible by providing users with great education and information regarding trading.

So, whether you need to know what Forex trading is or if the Central Bank regulates AvaTrade, this information is on hand to help you.

Going the extra mile, users can enjoy the AvaAcademy, which provides users with professionally created courses that cover a range of trading essentials.

Users can work their way through beginner, intermediate and advanced courses to ensure they have a well-rounded level of knowledge that enables them to make the most educated decisions that reflect market trends.

Risk Management

As a leading global forex broker and CFD broker, AvaTrade must implement reliable ways that users' risks are lowered. We all know that trading comes with risks, but it is unusual for platforms to highlight this and have such a proactive approach in the way that AvaTrade does to prevent losing money rapidly..

The platform's unique risk management feature allows users to protect a specific trade against losses of up to one million dollars over a chosen time frame in exchange for a moderate hedging cost paid at the time of purchase.

The risk management feature of AvaTrade falls under AvaProtect and was designed with the goal of keeping customers satisfied whilst simultaneously leading them to succeed with their trading pursuits. Another valuable risk management technique is the fact AvaTrade offers negative balance protection to ensure clients can't lose more than their account balance.

Automated Trading

AvaTrade helps beginners become more experienced in trading by providing users with automated trading support. With automated trading, users can follow in the footsteps of more experienced brokers, gaining insight by reviewing their strategies and signals in real time.

Automated trading doesn't only save new traders time but helps to enter trades at optimal prices. How users use automated trading depends on their experience and skills, but there are two ways to pursue auto trading with an AvaTrade account.

Users will utilise auto trading based on their own needs by using trading bots and via copy or social trading. Regarding trading bots, this is when software or bots deliver trade positions in the market based on specified strategies that must be achieved.

Social trading is a more human approach in which investors can track and follow trades executed by peers.

AvaSocial provides real-time trades to ensure mirroring work can be pursued successfully and precisely for the best results.

Leveraged Forex Trading

AvaTrade provides users with some of the best Forex Trading options on the market, ensuring anyone using the platform understands that Forex is a fluctuating industry that requires patience and knowledge.

AvaTrade specialises in short selling as it is one of the most popular trading styles, seeing traders make profits on falling prices instead of increasing costs. Users simply need to sign up for Forex trading on AvaTrade's website or pursue a free demo account to check out if this style of trading will work for them.

Trading Calculator

AvaTrade provides users with an online calculator to ensure that all trading position bases have been accurately calculated, with margins, benefit points and long and short swaps considered. If you're a trader with several positions open, it can be challenging to keep track of calculations, but the AvaTrade calculator provides a simplified solution to this issue. 

Traders use forex profit calculators to accurately determine the profit or loss that will be made when the stop loss or take profit is impacted. Accurate projections are a game-changer for traders, providing traders with information regarding potential risks and exact numbers to form more educated decisions. 

AvaTrade's all-in-one calculator provides users with multiple functions, enabling them to efficiently pursue margin, swap, profit/loss and pip calculations or convert currencies. 

AvaTrade Economic Calendar

Although AvaTrade already provides users with great ways to learn more about trading, it can be challenging to acknowledge economic events and how to interpret them to your own trading habits. Luckily, AvaTrade has an economic calendar that ensures that you understand market trends and events and their impact on your performance. 

Once you start using the economic calendar to align your trending habits with economic events, you are pursuing fundamental analysis, gaining essential experience and knowledge that will help you to grow as a trader whilst using the AvaTrade platform. 

How Does AvaTrade Work? 

To use AvaTrade, you must open a trading account by registering online and verifying your personal details. Once your details are verified, you can fund your account and start trading straight away! 

AvaTrade is not regulated in the United States, so it will not accept customers from this location. However, you can use USD as your base currency and USD, EUR, GBP, or AUD. 

It is important to note that you cannot alter your base currency once your account is set up, only UK users can have GBP as their base currency, and only Australian users can have AUD as their base currency.

Once your account is verified, you can start trading, with trading central providing all the information and tools necessary to get equipped with the platform. You can opt to use any of the features we detailed above or a demo account available via the web platform. However, you will need more knowledge and experience for Forex trading. 

AvaTrade Competitors

The trading industry continues to grow each year as virtual currencies become more popular and gain traction.

As this is the case, you can imagine that AvaTrade is not the only platform offering the type of software it provides to aspiring traders, and there is much competition. Let's take a look at the biggest AvaTrade competitors to be aware of; 

Saxo

Saxo is another trading platform with thousands of clients putting their trust in its offering, with over 1,000,000 clients worldwide. Another attribute making Saxo so highly acclaimed is the years of experience the platform has under its belt, being a reliable investing source since 1992.

With Saxo, users can enjoy a range of products and features, including stocks, commodities, CFDs and bonds. Users can invest in expert trading for guidance and advice, using tools tailored to individual needs with minimised risks.

Saxo is highly trusted but is also a highly expensive platform. AvaTrade is much more accessible to beginners and smaller user profiles. 

IG

Operating as the number one retail forex provider worldwide, it is easy to see why IG is recommended to those looking to become a forex broker.

Similarly to AvaTrade, IG has a desktop and mobile app, ensuring users can enjoy an accessible way to trade with little time required to get started.

IG has an affordable minimum initial deposit of £250, ensuring the platform is more accessible than Saxo but not as much as AvaTrade.

IG allows users to build a forex strategy and have ongoing opportunities with high liquidity, making it easier than ever to become a Forex broker and make a profit.

IG Disclaimer: Spread bets and 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 spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Interactive Brokers

Interactive Brokers differs from AvaTrade and the trading platforms detailed above due to the fact it has no minimum deposit. You can start using the web trading platform immediately, with a gateway to worldwide markets.

With automated risk controls, a strong capital position and a dedication to protecting clients and leading them to success, Interactive Brokers is an excellent option for trading.

Pros and Cons of AvaTrade

As promised, our Ava Trade review includes a broad range of pros and cons that will help you decide if this platform is right for you. To ensure our review is fair, we have gone into detail regarding both the advantages and disadvantages of the platform, providing you with all you need to make a decision.

Pros of AvaTrade

Most of the points we have already covered within our AvaTrade review point towards the platform being a positive experience for most users. So, let's take a further look into these benefits and why you should keep them in mind when using the platform;

✔️ Easy Setup: Opening a trading account has never been easier than with AvaTrade. From retail investor accounts to demo accounts, you can set up the account that best reflects your needs in an efficient manner, with only one day being taken to open an account. 

✔️ Diverse Options: Users can choose from various trading methods, with Forex, CFD and Crypto products provided. Access to a range of types of trading ensures that users can find which kind of trading works best for them whilst simultaneously learning about different platforms. 

✔️ User Friendly: With desktop and mobile platforms available, AvaTrade is an easy platform for any user. Adding to accessibility is its usability, with a modern and well-designed setup that takes no time to get used to. For beginners, there are also demos and video tutorials to guarantee AvaTrade is suitable for users of all experience levels. 

✔️ Expert Advice: Providing users with the necessary knowledge to succeed is essential, and AvaTrade does this perfectly. From providing extensive education resources through the AvaAcademy to having around-the-clock customer support to get to the bottom of any issues that may arise. 

✔️ Regulated by Top Tier Authorities: AvaTrade is regulated by numerous top-tier authorities such as the South African Financial Sector Conduct Authority, Central Bank of Ireland, the Financial Futures Association of Japan, the Investment Industry Regulatory Organization and the Financial Services Commission on the British Virgin Islands. AvaTrade operates as AVA Trade EU Ltd in Europe, with a $20,000 protection amount. 

Having 17 years in the trading industry helps us to see that Avatrade is safe and that clients are protected, making it a platform that many clients have no worries putting trust in and starting their trading journeys.

Cons of AvaTrade

Now that we have explored the various benefits of using AvaTrade, it is time to consider if there are disadvantages to using the platform and if certain areas of the trading site could be improved for users. 

❌️ Inactivity Fees: When assessing market comparisons and the amount of money users need to get the most out of AvaTrade, it is clear that AvaTrade has higher inactivity fees than most. For three consecutive months of inactivity, you will be charged £50, with the fee rising to £100 if this inactivity continues for 12 months. 

❌️ Slow Pace to Withdraw Money: It takes up to three days to withdraw money with AvaTrade, which is slightly slower than other trading platforms. Whilst this isn't make or break, it is something to keep in mind if you go on to use the platform and ever urgently need to withdraw money. 

❌️ Desktop Services Could be More Secure: When it comes to online transactions and trading, security is undoubtedly an important element for most brokers. It is surprising that AvaTrade's desktop trading platform only has one authentication method, which may make clients feel less secure when using this version of AvaTrade. 

❌️ Some Regularity Restrictions: Despite being regulated by the Central Bank of Ireland and regarded as Ava Capital Markets PTY or Ava Trade Markets LTD, there are a few notable missing regulations. One of these regulations includes The Financial Conduct Authority, which may leave clients without a more advanced level of protection. 

❌️ Easy Access Can Be Dangerous: Whilst we acknowledge that AvaTrade touches on the risks regarding trading, this platform is incredibly easy for beginners and those with little knowledge to use, with automated trading enabling mirroring. Although user discretion is advised and AvaTrade provides education, it is worrying to think that many users may start their trading journey without any prior knowledge. 

Conclusion 

Finding strong enough reasons not to use AvaTrade is challenging because the platform offers users many great features, such as Forex trading, risk management and educational resources at a reasonable rate.

Additionally, the platform is highly regarded by thousands of users. With over 17 years of experience in online trading, it is clear that AvaTrade knows what they are doing and has managed to avoid financial issues.

AvaTrade implements many safety nets to help users, but having a sound level of knowledge regarding trading is the best way to help yourself avoid difficult situations regarding money.

Once you have a substantial level of knowledge to start trading instruments, you can enjoy many benefits from AvaTrade, such as negative balance protection and advanced trading tools. 

The platform is available in multiple locations, with the likes of AvaTrade Japan and UK versions being available.

Regulations are set up to match locational offerings, from the Abu Dhabi Global Markets Financial Regulatory Services Authority to the Israel Securities Authority regulating the platform. 

However, the platform is not yet available in the United States, so stateside clients are unable to use the platform and reap the trading benefits. Whilst this isn't something that can be classified as a negative and doesn't impact how the platform works, it does significantly impact who is using the platform and how trading is pursued globally. 

Despite not having two-factor authentication implemented throughout the platform, AvaTrade does provide 256-bit SSL encryption across the website, using McAfee Secure to prevent identity theft.

The platform states that they are dedicated to protecting users and helping clients to trade safely, with thousands of users achieving this with AvaTrade's support. It is important to note the platform is also WebTrust compliant, as determined by the American Institute of Certified Public Accountants. 

Overall, AvaTrade is an excellent platform for those who wish to trade Forex, CFDs and cryptos. We recommend fully educating yourself before trading to ensure this is the correct path for you.

Luckily, AvaTrade has many great educational resources on site to help you do this and beginner-friendly trading exercises that will get you ready to enter the world of online trading.

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