When trading online, one of the most important factors to consider is working with a trusted broker, which offers good service and where our funds are safe and can be withdrawn without any problems.
In this article, you will be able to see the most comprehensive report on how AvaTrade broker.
AvaTrade is supposed to be one of the leading companies in the industry and robbing more than 200,000 clients worldwide, works.
All the data below is based on our own experience and the compilation of user reviews we have found on investment forums, blogs and specialised websites and users who have filed a class-action lawsuit against Avatrade.
OPINIONS ABOUT AVATRADE‘S SERVICE
Let’s start by assessing what we get from using Avatrade’s service.
Starting with the number of markets it allows us to operate, which accounts we can open, the conditions and requirements to start trading, etc… In short, all the way this financial broker called AVATRADE works and the opinions that users have about it.
WHAT IS AVATRADE?
AvaTrade is an online broker specialising in the foreign exchange market (Forex) but also offers CFDs on indices, stocks, commodities, bonds, ETFs, vanilla options, cryptocurrencies, …..
AvaTrade started trading in 2006. It is headquartered in Dublin (Ireland), although its actual command is in Israel, and it is from Israel, where everything is run to steal. The Central Bank of Ireland legally regulates it. Still, with Mr Ferguson holding a senior position in the Bank of Ireland in the past,.
We have complained to the Bank of Ireland, and they have not replied to anyone. It is apparently a legitimate company, but it is designed to steal and defraud. A little further on, we will look at the security and guarantees that this broker offers.
The commissions (spreads) offered by AvaTrade are not the best, but could be considered to be in line with the industry average. One positive aspect is that the trader can choose to work with fixed or variable spreads, but all this does not matter as the aim of Avatrade’s advisors is to ruin your account.
As for the way they execute orders, we are dealing with a market maker broker, and this is undoubtedly negative. AvaTrade is a regulated broker, but it does not comply with European regulations on investor protection as it leaves your account at zero, and according to European regulations, a private investor cannot lose more than 50% of the capital, they direct your positions, and this is also totally forbidden and they place leverage higher than 1/30% when it is not allowed by the regulatory bodies for private clients.
Avatrade has a wide variety of trading platforms ready to rob its clients. In the event that they allow you to withdraw the funds you have left (which they do not always allow), the time limit for withdrawing funds is very long, and the demo account is temporarily limited. Their Avapartners are immediately calling you with the aim that you invest the maximum (because they take 10% of that initial deposit). Then they have to leave your account at zero euros because then the AvaPartner or affiliates of AVATRADE take another 10% of your money. You are then told that it has been lost in the stock market when in reality, it has never been on the stock market.
OPINIONS ABOUT AVATRADE‘S TRADING PLATFORMS
We must bear in mind that every trader must have at his disposal a platform that allows him to develop his operations (analyse the market, make trading decisions, open and manage his operations) in a comfortable way and providing him with all the necessary tools. For this reason, an essential point in the evaluation of a broker is the platform or platforms it offers.
The platforms that AvaTrade offers us and all of them ready to steal from you are the following:
The market-leading trading platform. Metatrader 4 has all the features to make proper trading. It is widely known. But Avatrade takes it down every day at 9:30 at night to manipulate it.
One of the significant advantages of MetaTrader 4 is that it can be used regardless of the trader’s level of knowledge. Both beginners and experienced traders can use it.
The main features of Metatrader 4 are as follows:
Ease of use: It is a flexible platform in which the degree of complexity depends on the options chosen by the trader based on their knowledge. Metatrader 4 is a highly customisable platform.
Useful for technical analysis: At any level of complexity. It has powerful quote charts and a large number of technical indicators.
Agile order placement: Different types of trading orders can be placed. One-click trading is possible.
Possibility of algorithmic trading: Through automatic trading programs,
It only remains to be said in this section that AvaTrade offers an additional and customised tool to improve decision making, the «Guardian Angel». That is software designed for beginners. So it helps to identify possible mistakes and increase stock market knowledge. The Guardian Angel is an add-on for Metatrader 4 that leads the client to the total ruin of his account.
AvaOptions is AvaTrade’s trading platform that also offers high performance, with the difference that it is a platform on which it is also possible to trade vanilla options.
According to reviews we have found, this platform stands out for offering extensive information on the available asset options.
In addition, the broker AvaTrade informs us on its website that this platform has professional risk management tools (for example, a portfolio simulation). It offers interactive charts on which we can perform a complete technical analysis, it is also highly customisable, fast and convenient and above all, tricked to steal from you.
In case the trader has no interest in vanilla options trading, in our opinion, he may find it unnecessarily more complex to handle than MetaTrader 4.
AvaOptions is available to download and install on your computer or in web trader format by accessing the platform through any web browser.
It is also possible to trade from a mobile device with the AvaTrade broker through AvaTradeGO. According to many of those affected by AvaTrade theft and fraud, this app is not synchronised with the computer application or the actual market as the price variation is significant.
Available for iOS and Android devices, this app has an intuitive design, displays charts clearly and has all the functions needed to manage to trade. It is a relatively complete mobile trading application, but as I said before, what it offers does not correspond to reality either because it is tricked or because the speed of the mobile device does not allow the actual data to be displayed.
This type of app represents a way to be permanently connected to the broker, receive news, control your operations and in short manage all your trading at any time and from anywhere
In our opinion, AvaTrade‘s list of financial instruments is relatively large (just over 250 instruments). However, it is not as significant as other brokers that can access more than 2,000 different instruments. The catalogue offered by AvaTrade is comprised of the following:
Forex: We have counted 50 currency pairs available for trading. Twenty-nine of these currency pairs are also available for trading via vanilla options, as discussed in the AvaOptions platform.
INDEXES: Standard & Poor’s 500; Nasdaq 100; Dow Jones 30; Russell 2000; and the Dollar Index.
COMMODITIES: Oil, Natural Gas, Gold, Silver, Platinum, Corn, Coffee,… up to 17 different assets.
STOCKS: CFDs on a selection of central US, UK, Spanish, German, French and Italian stocks.
TREASURY BONDS: CFDs on US Treasury Bonds and European and Japanese bonds.
ETFs: Exchange Traded Funds. In this case, we can trade on the MSCI Emerging Markets Index Fund, the Market Vectors Tr Gold Miners, S&P 500 VIX Short-Term Futures ETN,…
Crypto coins: Bitcoin, Ripple (concerning these cryptocurrencies Avatrade closed all the positions of clients who were gaining as you can read in the article titled ……,) Ethereum, Dash and Litecoin. The leading cryptocurrencies are currently on the market (by market capitalisation).
AVATRADE TRADING ACCOUNTS
AvaTrade only offers a demo and live account type, but many have reported to us that they have been working on a demo account the whole time.
You can trade all the instruments described above and with commissions in the form of a spread (the difference between the price offered to buy the asset and to sell it. The trader can choose between fixed or variable spreads (only for the Forex market). Again, depending on the financial asset to be traded, the spread will also be different. Usually, the minimum spreads apply to the most liquid assets and range from 1.9 pips if you choose fixed spreads or from 0.7 pips in the case of variable spreads.
AvaTrade also usually offers a welcome bonus of up to 40% of your initial deposit, which allows you to increase your trading capacity. Please read the terms and conditions of the bonus carefully before accepting it. (Note: Currently, the bonus is not available to European clients due to our lawsuit as it is illegal as the bonus is to get you to invest more as they intend to ruin your account).
The opinions we have found about the AvaTrade demo account are negative, not about the account itself but about the fact that the trial period is limited to 21 days and can be a bit short. Nowadays, some brokers offer demo accounts for an unlimited period, which is a disadvantage of this AvaTrade account.
ACCESS REQUIREMENTS FOR AVATRADE
To start trading with AvaTrade, we must make the corresponding application for registration through its official website through the real account offered.
The process is simple; you just have to fill in an application form and provide the information requested. By law, as with any regulated broker, we must send proof of identity (scanned image or photograph of ID card, passport or driving licence) and proof of address (recent utility bill, scanned or in digital format, water, electricity, gas, etc.).
Avatrade requires a minimum initial deposit of 100 EUR (also works with other currencies such as USD, GBP or AUD).
After sending the documentation and making the initial deposit, our trading account will be activated, and we can start trading through the chosen platform by logging in with a username and password provided by the broker. But in a very short time, one of the Avapartners will be calling you from somewhere on planet Earth, intending to get you to invest as much as possible and then ruin your account.