Everyday, more and more people venture into commodity and foreign exchange trading. Hence the demand for good brokers is always on the rise. This has in turn fueled the need for more exchanges to spring up. Today, there are so many brokerage services being offered by a vast number of companies and deciding the best to go with has become a tough choice.
To help you decide, we would be analyzing one of the oldest and most used exchanges – avatrade. An in-depth look at its features, service delivery, commodities available, accounts and overall perks will ease the process of deciding if avatrade is the best broker for you.
Avatrade And Its Features
Avatrade is one of the best brokers available for foreign exchanges and trading of commodities. Founded in 2006, they have built a reputation of delivering top notch services to users. Avatrade has its offices in British Virgin Islands, Australia, Japan and Ireland. Being one of the early existing brokers, it has garnered a large population of users which can be traced to effective service delivery and safety of user assets.
|Accessibility||App and website via Androids, desktops, laptops and iphones|
|Safety||Licensed across five continents|
|Fees||No fees on withdrawal or deposit|
|Account activation deposit||$100|
|Verification||Required before withdrawal|
|Customer support||24 hrs|
|Instruments available||Over 1200|
With Avatrade, you will be able to execute trades anywhere and anytime as long as you have an internet connection and a mobile device with you. Avatrade allows web based trading and trading via their app. The app can be downloaded on Google play store or apple store. Once the preliminary registration requirements are fulfilled, you can trade on the go.
The user interface is quite thoughtful and easy to navigate for traders. This saves time as there would be no need to learn how the app works. It also offers innovative in app features that can also be accessed via the website. This is geared at ensuring you enjoy a smooth trading experience on the Avatrade platform.
In addition to the easy to navigate interface and trading tools, there is an extra protective feature – avaprotect, to help minimize loss on the part of traders. This feature is used when executing trades.
You only have to worry about safety when you patronize an unregulated broker that refuses to have itself registered with the necessary platform. Such brokers have dubious affiliations and with adequate research, they can be spotted easily.
Avatrade is a globally registered and regulated broker. It has obtained licensing from five different continents. What this means is that they are accountable to this organizations and can be closed down if they fail to uphold the integrity standard.
With this regulation in place, you need not worry about safety as regulated brokers have been scrutinized properly.
Beginner To Advanced Guides
Trading is difficult when the trader lacks the right knowldege. In the absence of the right technical know how, unsuccessful trades is all that will be obtained. Brokers that are out for profit basically provide all that is needed for trading. Very few brokers provide quality educational materials that brokers can make use of.
Indeed, learning never ends and this is something avatrade agrees with. The platform has provided a huge library for traders to dive into and learn from. Even traders with years of experience can gain lots of valuable knowledge from this resources. Users can easily access books, videos, calendars and analytical tools to meet their trading needs. Techniques, expert strategies and calendars are also available on demand. Having access to such a huge resource makes it possible for literally anybody to master the skills needed to secure successful trades.
Wide Range Of Instruments
When choosing a broker, it is necessary to fully access the amount of Instruments provided. This is because a platform with limited instruments will be of very little value when you intend to trade. Popular instruments used globally may not be available on this platform and then you may need another broker. This will be too much trouble.
To avoid that level of stress, going with a broker that transcends bounds will do alot more good. Avatrade provides traders with popular and not so popular instruments. Whatever you intend to buy or sell can be found on this platform. From records, they have a total of about 1250 instruments available to traders. They take pride in breaking bounds hence they can be relied on in this regard.
Exclusive Trading Terms
The common way stocks and cryptocurrency investors make profit is purchasing financial instruments when the prices are low and then selling when prices spike. In fact, this model is supported by a large population of brokers and very few support short selling.
Short selling of Instruments refers to the sale of these instruments when prices drop in a manner that benefits the investor. Most brokers that support this sort of trades put several restrictions but avatrade has no bar when it comes to short selling. This may be due to the level of confidence they have in their users.
However, this is something that users can enjoy on this platform. All that they have to do is make well informed decisions in order to maximize profits.
Efficient Order Execution
Timely execution remains a key factor that determines the success of buy and sell decisions. On the long run, this also determines the amount of profit that is made from trading. As a result, considering the time frame in which a broker executes a trader’s buy or sell choice is necessary. Whichever broker that is chosen plays a role in the success of trades.
A lot of people do not know that brokers do not execute the buy or sell decisions on the go. However, the efficient ones executes choices within time range hence success or failure tallies with the traders calculation.
Avatrade ensures that trades are executed in a timely fashion. The role time plays in the success of trades is understood by this broker and as a result, trades are executed quickly.
Another factor that affects order execution is the system’s technology. Several platforms have had records of very serious lags. After clear analysis, the lags was proven to be completely due to the platform as it could not handle the large number of trades being executed. Such scenarios have actually caused losses for traders.
Avatrade however has never recorded such a report and probably never will because they make use of really sophisticated technologies. When carrying out trades on avatrade, the trouble of system lags or untimely execution is nonexistent. Trading with avatrade is stress free.
User Centered Customer Service
Signing up with a broker that has very poor customer service is a disaster waiting to happen. Regardless of how straight and clear the procedures for a platform is, the possibility of having issues on the platform is still there. It could be that you may need a detailed explanation or perhaps help with any of the processes.
Avatrade understands that the customer support department is the bridge between customers and the company. Their customer service officials are empathetic and friendly. If you ever have a complaint, you can easily reach out to them via the media, email or their mobile lines.
They work round the clock all through the week. Users from non English speaking locations can communicate easily with their customer support staff as they recognize 15 other major languages.
Issues tended to their staff are often rectified in the shortest time possible and affected users are compensated.
Identification is the medium in which verification is possible. Avatrade took it upon itself to obtain a license from five different continent not just to promote visibility but to let users know they are regulated and that the avatrade platform is safe for trading. Having done that, they also expect users to have some means of identification and be verified before free use of the platform is allowed.
Avatrade ensures full compliance with the know your customers and and anti-money laundering policies. In line with this, users upon signing up must provide a valid means of identification to become verified members. This includes a valid means of identification, government issued identity card and a utility bill or bank statement no older than six months.
This measures ensures that everyone on the platform is verified with a known address therefore minimizing the events of scams.
Ease Of Account Creation
Registering on avatrade does not require unnecessary paperwork. The first step is signing up and providing the required details. After that, users will be prompted to upload their verification documents. The verification documents will be accessed to ensure they are real. Once the user is cleared from this stage, the account will no longer have any form of restrictions and will be considered a verified account.
Avatrade account activation fee is low and budget friendly. Unlike some brokers that have placed very high limits for first time deposits, avatrade places its first time deposit at $100. After signing up and verififying your account, you will be required to make this deposit. Beyond that, there are no extra requirements. You can resume trading with your account.
However, accounts that have been left dormant for three months consecutively would need reactivation. Reactivation fees for such accounts is $50 and $100 for accounts that have been inactive for a year.
Ease Of Withdrawals And Deposit
All verified accounts can easily make withdrawals and deposits. Although first time withdrawals must be done via the channel which the first deposit was made. This is done to ease the process for both the trader and avatrade as well as secure the trader. Withdrawals are processed within one to two working days. After the first withdrawal, traders can choose to access their funds via credit card withdrawal, wire transfer and other payment channels.
All restrictions placed are done in the interest of everyone and everything is aimed at keeping the platform safe and efficient.
Almost all brokers charge processing fees on withdrawals and deposits. Some of these fees are on the high side and the trader ends up getting very little from what has been earned.
On avatrade, traders are not charged processing fees whether they are trying to make a deposit or withdrawal.
MetaTrader 4 Support
Despite its highly efficient technology, avatrade still provides MetaTrader 4 support on its platform for traders who would like to make use of the software.
MetaTrader 4 is a software for trading sites. It is used to prevent any form of lag that could occur. Traders that use sites with poor technology often use this software to complement the ineffciency. However, even top brokerage sites like avatrade support this software as well.
Trading on avatrade with MetaTrader makes trading super, super smooth. Avatrade without this software is cool to use and lags are rarely reported. Combining MetaTrader 4 with such a smooth software simply means you would never experience lags trading.
This is a good feature to consider when choosing a broker because no technology is perfect and two great softwares will surely be more effective than just one. This is one of the reasons why avatrade remains traders favorite. It did not just provide great technology like some brokers.
Avatrade always goes the extra mile to see that traders are satisfied with the features on its platform.
Constant evaluation and improvement distingushes avatrade from its competitors. So many platforms start off with awesome features but they never care to make upgrades and improve or introduce new features.
Avatrade believes in continuous growth. They are constantly looking out for ways to make their platform more enjoyable for users. From being among the first to make financial instruments available to upgrading technical charts and finding the latest and most efficient trading strategies. This very feature of avatrade helps traders trust avatrade and they seem like the one platform that will always have their clients back.
Avatrade Trading Limits
Most trading platforms have trade limits. This is created to ensure that traders do not take uncalcuated risks that would lead to extreme loss. It is also based on the volatility of the financial instruments that is being traded. The downside with this is that certain platforms place limits that only favor inexperienced traders. The best platforms consider the experience and skill level of all traders before placing limits.
Trading limits on avatrade seems quite fair. Traders with the right know how and skill can explore and trade within the stipulated limits. From time to time, the limits are reviewed based on volatility and a host of other factors.
The leverage feature allows traders to borrow money from their selected broker either to open an account or add to their existing Investment. This feature though comes with a certain level of advantage poses some disadvantage as well. Due to this, some brokers do not offer this to traders. However, avatrade offers leverage to traders but with certain restrictions to protect the interests of the trader and the platform.
Avatrade offers leverage to traders at a ratio as high as 400:1. Although, leverage offered to traders from European union countries is capped at 30:1.
It is important to note that avatrade does not just offer leverage to traders but provides some regulation to help traders trade safely.
Limit orders or take profit orders is a feature on the avatrade platform that helps traders maximize profit and minimize loss. With this order in place, trades are automatically closed when the values of commodities being traded falls outside expected range.
There are two types of limit orders. There is the buy limit order and the sell limit order. The buy limit order safeguards buy decisions. Commodities placed on buy order are only purchased at the given price or lower when the buy limit order is in place. The sell limit order works in a similar way. Sell decisions backed by sell limit orders are executed when the selling price is at the set range.
Stop orders like limit orders ensure that commodities are bought or sold at a price range. The difference between stop orders and limit orders is that stop orders function where there is an expected increase in price while limit orders are for situations where there is an expected decrease in price. Stop order also has the buy stop order and the sell stop order. The buy stop order is an order to buy a commodity when price increases and the sell stop order is to sell a commodity when price increases or gets to an expected value.
Both the stop order and limit order are great features that promote trading safety in terms of loss.
Avatrade has all the essential features to allow smooth trading. In addition to that, it has served traders for more than a decade and has built a great reputation. The services rendered to users are efficient and excellent. It has practically everything any trader would need, regardless of experience level.