Broker AvaTrade specializes in offering CFD and forex trading. It is possible to trade via the AvaTrade, MetaTrader 4 platforms or using the trading app. In addition, with the Mirror Trader and the connection to ZuluTrade, there are two options for social trading. Anyone who wants to deposit or withdraw money from their trading account at AvaTrade can do so using a variety of means of payment. These include, for example, credit cards, bank transfers, and some online payment services.
- Important info at a glance
- Regulation and security at AvaTrade
- Trading features at AvaTrade: 250 Underlyings from Forex and CFD
- Social Trading at AvaTrade
- The Ava Debit MasterCard
- Other options for deposit and withdrawal with AvaTrade
- In 3 steps to disbursement at AvaTrade
- Training and Support at AvaTrade
- Account opening and bonus at AvaTrade
- The Final Conclusion
Important information at a glance:
EU regulation by the Irish Central Bank
Training through free webinars and video seminars
Platforms AvaTrader, MetaTrader 4, and trading apps
Various account models (silver, gold, platinum)
Payments by credit card, bank transfer, or Global Bank
Needs to verify before the first payout
Regulation and security at AvaTrade
In 2006, the broker AvaTrade was founded in Dublin. Since then, the company has been servicing around 200,000 customers from more than 100 countries – with an upward trend. One of the reasons the broker is popular is because he is based in the EU. Although Ireland may not be the financial center of Europe, the same laws apply here.
The Irish Central Bank ensures that AvaTrade truly complies with these regulations for financial service providers. Thus fraud from this broker is practically impossible. AvaTrade must disclose all its business practices and is faced with strict oversight.
For the safety of customer funds further argues that the company segregated these assets of corporate assets. Even in the unlikely event of AvaTrade’s bankruptcy, clients would be fully entitled to their deposits. For creditors have no access to segregated accounts in the event of a company bankruptcy.
Traders can rely on AvaTrade for a high level of security, mainly due to their headquarters in Ireland. After all, the broker must comply with all current laws for financial service providers, which also apply to other companies. The Irish central bank also has an institution that is more than just a regulator to monitor and regulate.
Trading at AvaTrade: 250 Underlyings from Forex and CFD
AvaTrade has been trading forex and CFDs since its inception. The fact that the group has been dealing with the derivatives for over ten years now becomes clear when looking at their trading offers:
Over 60 currency pairs can be used by investors to trade in the international currency markets. First and foremost, of course, these include popular and well-known majors, such as Euro, US dollar, GBP, and Japanese Yen. In addition, however, you can also find important cross matings and even some exotic animals in the product range. Thus, traders benefit from a high degree of flexibility in forex trading and can spread their positions widely across the entire currency markets.
When trading classic CFDs, the most common underlyings have also been integrated into the offering. For example, commodities, stocks, bonds, ETFs, and indices are all common asset classes at AvaTrade. Overall, the broker comes so close to just over 200 underlyings. Some brokers are likely to make their product offering a little wider, but the most important pairs are present at AvaTrade. These include, for example, the DAX, gold, oil, Google stock, and the interest of the US government bond.
Trading in Forex/CFDs is interesting because a leverage can be used. How high this is, always depends on the broker you choose. In forex trading, AvaTrade offers the ability to select values up to 400:1. It is therefore an industry-standard leverage that should be sufficiently high. In CFD trading, the maximum leverage is limited to 200:1, which is also a common value.
Lastly, consider the costs of trading. Here, AvaTrade can convince above all in the Forex area. It starts already from favorable spreads of 0.8 pips, which applies however only for the well-known major currency pairs. But even with lesser known currencies, it is possible to open positions with 2 to 8 pips. The costs are always dependent on the selected underlying and trading hours. This also applies to CFD trading, which is basically possible to have a 1 pip spread.
Since its inception, AvaTrade has focused on offering Forex and CFD trading. This allows traders to access more than 60 currency pairs from different currency areas. CFD trading offers 200 underlyings for trading.
Social Trading at AvaTrade
Although AvaTrade has long been active in the market, the company is always interested in innovations and improvements. In the recent past, this mainly resulted in the integration of social trading into the trading offer. The basic principle of the new type of investment is quickly explained below:
On a social trading platform, the signalers and followers meet or interact. The signal providers are usually experienced traders who have been trading for years with financial derivatives. The followers, on the other hand, are more likely to be investors who sometimes lack expertise. To compensate for this deficiency, they can follow the signal providers. Then all the trades of the top trader are visible in their feed – just like on eToro. In addition, it is even possible to directly copy the top traders. Then the system creates all positions of the signal generator directly in your trading account.
Social trading at AvaTrade is possible via two different trading platforms:
The Mirror Trader offers basic functions of social trading. Trading strategies of experienced traders can simply be “mirrored,” i.e. copied. This is possible in three different ways. With manual trading, the system only provides information about which position the signal generator has just created. The follower then decides for himself whether this position should be copied. Automatic mirroring copies all direct trade items. A middle way is the semi-mirroring, in which traders can copy only some of the positions automatically.
The social trading platform ZuluTrade is well-known among traders and enjoys great popularity in the industry. ZuluTrade offers virtually all functions of the Mirror Trader, but goes much further. For example, there is a watch list, numerous filter criteria for top traders and even own trading profiles. Here, the signalers can write status messages or describe their trading strategies more precisely.
The ZuluTrade connection to AvaTrade is made via registration on the social trading platform and is completed within minutes.
Particularly inexperienced traders benefit immensely from social trading. Several studies have already shown that traders can achieve significantly higher returns on average by copying signalers. In 2012, for example, the University of Bochum found out that the average return of top traders at ZuluTrade is around seven percent.
At AvaTrade, it is not only possible to use traditional brokerage services. The broker even offers their traders their own credit card, which makes payments easy and convenient. The credit card itself is already applied for in a few minutes. First, an account must be opened with the broker. After that, traders will find under “My Account” a menu item that leads to the application for the Debit MasterCard. Traders then follow all the instructions until the application is completed.
The MasterCard itself should then reach the trader within four weeks. Then it can be fully used as a conventional credit card. For example, dealers pay for free in other European countries, book hotels, or withdraw cash at the ATM. Important: This is a MasterCard. The payments are therefore always free only where a MasterCard is accepted.
The AvaTrade Debit MasterCard is a special service of the broker. Traders will receive a free credit card within four weeks after the application, to which credit balances of the trading account can be easily transferred. Subsequently, the card can be used to pay without cash or to make cash available.
Other options for deposit and withdrawal at AvaTrade
Of course, traders are not forced to apply for the presented credit card. There are three additional payment options available:
Payment by credit card
As a rule, credit balances can be paid flexibly via the credit card. But only amounts that have been paid in via the respective credit card can be paid out, or withdraw. Especially with higher profits, it is not possible to transfer them completely to the credit card. It should also be noted that charges may apply for the use of the credit card depending on the card provider/institution.
Payout via Global Bank
Global Bank transfers are subject to the same credit card restrictions. Withdrawals are only possible in the amount previously made through Global Bank deposits. In addition, the maximum transfer amount per transaction is $5,000.
Payment by bank transfer
As a rule, traders therefore use the bank transfer to deposit money into their account and then have it paid out again. There are no restrictions and fees are not charged. However, by bank transfer, it takes significantly longer for the money to arrive in the account than when the credit card or Global Bank are used.
Basically, AvaTrade is characterized by a fast processing of payment orders. Between 24 and 48 hours the broker needs to process the payout forms. Subsequently, the request is forwarded directly to the provider of the means of payment, which in turn carries out a review. It takes between five and ten days until the money reaches the bank account.
Important: A verification of the account must be done before the first payout. This can be done either directly during opening of the account or at any time thereafter. To do this, traders upload a copy of the ID card and proof of address to AvaTrade. For the confirmation of address billing of electricity, gas, or telephone providers [not older than three months] can be used. If you want to use a credit card for deposits and withdrawals, you must also provide a copy of the front side of the card.
Deposits and withdrawals at AvaTrade are possible via secure and common means of payment. First and foremost, traders can use the classic bank transfer, which is completely free. Alternatively, credit cards or Global Bank can be used. However, it must be noted that disbursements are only possible via the same method that was used for depositing the money.
Anyone wishing to make a withdrawal from the broker must complete a standardized form.
The form itself can be found on the AvaTrade website under the menu item “My Account.” At the top right now should be a button with the words “payout” or “Withdrawal.”
Thereafter, all instructions given by AvaTrade on the page can be easily followed. The payment form is then downloaded, printed, and signed via “Print template.”
Now the form has to be scanned. Traders either send the payment order via e-mail to customer at avatrade [dot] com or upload it under “My Account” -> “Upload Document.”
Withdrawals are uncomplicated with AvaTrade, even though a payout form needs to be completed. This is for security, so these few minutes of time are well spent not wasted!
Training and support at AvaTrade
Deposits and withdrawals are part of the general service offered by a broker. Also included in these categories are the main aspects of training material and help/support. In principle, AvaTrade is also convincing here. The training stuff in detail:
To explain the important questions, AvaTrade has created extensive and at the same time very clear FAQs. Traders can, for example, retrieve information about how to navigate the broker or how to process deposits and withdrawals.
The company has also designed its own eBook specifically for forex trading. It is primarily aimed at newcomers who have not or rarely traded with Forex. This eBook serves as a very extensive entry into the topic. For example, the basics of trading and financial market theory are explained. Investors understand why currency rates are trading and how they can benefit from these fluctuations.
Once or twice a week, investors also get a deeper insight into the world of trading. This is possible through free webinars, which are always held by an experienced employee of the broker. They cover a wide range of topics from which both beginners and experienced traders benefit. For example, the technical analysis is presented in detail, emotional impact is explained, and current market analysis are delivered.
In addition to the webinars, traders can also access a video archive. Of course, this offers more flexibility, because the trader can learn new aspects about trading when he has the time to do so.
In addition to the training material, the general service at AvaTrade is good too. Basically, the communication with the support is mainly via a live chat, which is staffed around the clock. The creation of tickets and the subsequent notification by e-mail is also possible. In addition, the team can be reached by phone during normal business hours.
AvaTrade knows how to convince users through an easily accessible and competent support. The company is there for its customers around the clock and even offers a free telephone hotline. In addition, traders benefit from a comprehensive training offer, which mainly consists of numerous videos and webinars.
AvaTrade Mobile App
AvaTrade not only offers an app, but also provides a training area.
Account opening and bonus at AvaTrade
AvaTrade is a pure online broker. This becomes clear, among other things, when opening a trading account that runs completely on the Web.
First, traders access the broker’s website, where a standardized opening form can be found.
Subsequently, it is selected whether investors want to open a MetaTrader 4 or an AvaTrader trading account. Irrespective of this, AvaTrade then requires the specification of some personal data, such as name and address. But the previous trading experience is also queried in order to be able to look after the trader in the best possible way afterwards. The data is then transmitted to AvaTrade with a single mouse click.
The broker checks the application and then validates the account.
For the first deposit there is a bonus of between 20 and 30 percent for an amount of $500 or more. Generally, the account opening is possible from $100.
AvaTrade has been active in Forex and CFD trading since 2006. This years of experience is especially clear when looking at the services. Here, traders benefit from a competent support team that is available around the clock. But AvaTrade also knows how to convince by a high number of underlyings, especially in the Forex area and favorable conditions. In addition, traders can easily deposit money into the trading account at AvaTrade and then have it paid out again in a secure way. This is possible, among other things, with the AvaTrade Debit MasterCard, which the company offers.