AvaTrade is one of my leading brokers because of the strength of the institution. Avatrade can easily be considered as one of the most well respected and trusted Forex brokers around, with offices in Dublin, Sydney, Milan, Tokyo, and New York. They offer Forex brokerage services to nearly every nation, and they have dozens of different language options in their software and with technical support.
Apart from being regulated in South Africa by the FSB, this brokerage firm is licensed by MiFID from the European Union while being regulated by the Central Bank of Ireland, so they’re always held to the highest possible standards by legislation and strict oversight. They are reliable, and South Africans love trading with them.
AvaTrade Account Types
As AvaTrade becomes a larger, more popular firm, they’re beginning to take on different features. For instance, they now offer five separate account types for those interested in trading. Here is some information on some of those account types.
- Demo Account: This particular type of account is a no-cost, no-risk, high-reward account that allows those interested in Forex to trade without having to risk capital. Like practice for the big game, honing one’s skills on a demo account can make all the difference.
- Silver Account: The Silver Account from AvaTrade is for individuals who are putting in a minimum deposit of $100, to $1000. This account is like a starter account, but you still get benefits like full customer support and usage of all of AvaTrade’s platforms.
- Gold Account: The next account type is the Gold Account, which is for members depositing between $1,000 and $10,000, so it’s a rather broad category. Of course, members here get access to all 8 AvaTrade platforms, support, custom-tailored analysis to help them trade, and much more.
- Platinum Account: For investors putting in $10,000 or more, the Platinum Account is a very feature-heavy account option with AvaTrade. This gives all the benefits of all the smaller accounts while providing even more in the way of assistance, like live-time alerts, much better leverage, and more.
- AvaSelect: The last account type, AvaSelect, is for investors who are really trying to maximize their gains in Forex by investing over $100,000. The positive features of this account type are far too many to name, but do include custom-tailored support, you own personal agent available 24/7, all the training and tips you could ever need, and so much more.
Unique Selling Points
- All client accounts come with trading fund protection, making Avatrade the first and only MiFID certified broker to do this.
- Each account type comes with different custom features to help investors earn big
- AvaTrade offers dozens of languages for a truly global base
- There are eight separate platforms on which to trade
- The broker caters to a very broad range, from rookies just starting out to investment pros
- The broker will offer complete training and turn anyone into a Forex whiz
Pros and Cons
- Streamlined software
- Great bonuses and promotions offered
- A long list of educational resources
- A range of different trading tools
- A multi-platform set-up
- A very low minimum deposit ($100)
- Stability and honesty in trading
- Well regulated broker
- Must make relatively large investment before reaping full benefits
- The platforms can take some getting used to
- The demo account doesn’t allow all the platform options
- Relatively lengthy withdrawal times
Unlike a lot of brokers that present a more gimmicky type of set-up, AvaTrade is a fully licensed, well-regulated brokerage firm that operates all across the globe. They’re not simply a start-up company looking to sell get-rich-quick software. They deal with real brokers whose success depends on your success, and that’s why they offer so many different tools and platforms to all their traders. If you don’t earn, they don’t earn.