AvaTrade Review 2023: scam or legit?
We’ve decided to focus this article on AvaTrade. It operates as a fully regulated broker with a substantial presence worldwide except for the United States. This company deals with mainly Forex and CFDs on stocks, products, signs, FX trading, cryptocurrencies, Etc. The company’s main office is in Dublin, Ireland, and started extending its brokerage services in 2006. Additionally, this firm provides a few trading platforms and profits mainly through spreads.
As mentioned above, the broker has been expediting FX trading since the early 2000s and has agencies worldwide. Yet, as with any brokerage, you’ll have to ensure your investments are safe. Furthermore, when individuals trade in the FX market; They’ll have to double-check that commissions and fees are fair and customer service is functioning correctly.
The broker provides various client groups’ needs due to its advantages in terms of its exchanging platforms/software and educational asset classes.
Novice Traders: AvaTrade compliance team provides a reliable backup with the firm’s straightforward interface. Furthermore, the broker claims that any beginner can simply operate the complicated investing world.
Seasoned Traders: AvaTrade allows all “desktop” based trading with two main Apps, “MT4” and “AvaTradeGO.” The broker claims these Apps provide advanced traders’ choices. It has a range of automated trading platforms and EA compatibility. Additionally, this firm carries available webinars meant for all sorts of traders.
Furthermore, AvaTrade has 250+ instruments in stocks, commodities, indexes, FX trading, and CFDs to assist investors with their portfolio.
AvaTrade Fees Upon Service
AvaTrade account opening costs a minimum deposit of $100 through CC/wire transfer. For Forex trading, AvaTrade compensates through the bid-ask spread. This is why the broker doesn’t charge any commission on FX trading. If the spread is three pips on 1,000 units of a currency pair, it means AvaTrade compensation amounts will be $0.30.
AvaTrade Review: Overall
Honestly, AvaTrade is acting as a fair broker with an efficient support line and has a practice/demo account available for trying out, prior to investing real money. However, It has a few notable cons. For instance, the broker will not accept customers from the U.S. Because, SEC [Securities and Exchange Commission] did not approve their services inside the U.S. And another disturbing fact about this company, is that transferring funds to an individuals account could take up to eight days; Withdrawals could take up to 14 days, and that’s quite a lot of time.
Additionally, we’ve read a few genuine AvaTrade reviews on the web. Furthermore, these reviews are mostly positive. However, numerous negative reviews claim that by the time clients tried to withdraw money; Till the point they got it, these clients lost the rest of the sum they deposit from the beginning. To conclude, hopefully this AvaTrade review will help you decide accordingly, remember to check more details about any broker you wish to deal with.