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AvaTrade Review UK

    • 1570 posts
    September 15, 2022 12:01 AM EDT

    AvaTrade Review UK

    Founded in 2006, AvaTrade is tightly regulated by several bodies across the globe, providing a reliable and safe trading platform to its 200,000 customers worldwide. Today, AvaTrade facilitates over 2 million trades each month and has handled more than $1.47 trillion in traded value since its launch.To get more news about avatrade pros & cons, you can visit wikifx.com official website.

    There is little doubt that the offering of customisable trading platforms on AvaTrade is impressive. With five different options to choose from, there is literally something for everyone from beginners to advanced traders.

    In my AvaTrade review, I have compared AvaTrade to similar brokers in order to establish their position in the market in terms of assets offered, fees charged, customer service, and safety amongst other factors so you can make an informed decision as to whether this is a good platform for you.
    Who are AvaTrade?
    AvaTrade was initially founded as AvaFX and has headquarters in Dublin, Ireland as well as regional offices from around the world. AvaTrade claim that they are “committed to empowering people to invest and trade, with confidence, in an innovative and reliable environment; supported by best-in-class personal service and uncompromising integrity”.

    To this end, AvaTrade have provided traders with Trading Central where a suite of tools provides trading strategies based on technical analysis. Today AvaTrade is considered one of the top forex brokers in the world.
    Webtrader
    Whilst it may not have the customisation options of some other platforms available, AvaTraders own web platform, Webtrader, is very well laid out and easy to navigate even for novice traders.The search functions allow traders to search by asset name or category and all the basic order types are available including Market, Limit and Stop.

    Nervous about sustaining losses? AvaTrade provide a type of insurance against losses in the form of AvaProtect. You will be charged a fee for this service, however, for the period of the cover, any losses sustained on that trade will be reimbursed. This is available on market orders.

    Charting is available with 90 indicators and the suite of tools from Trading Central is neatly integrated into the trading platform.

    Where Webtrader does fall short is that there is no option for setting price alerts or receiving notifications. Also, Webtrader only provides access to around 200 tradable symbols, compared to the 800 offered on MetaTrader 4.
    MetaTrader 4
    The lack of customisation available on Webtrader is more than made up for with MetaTrader 4. MetaTrader 4 is a third party trading platform and the leading trading platform in the world. It is fully customisable with a plethora of features designed to enhance your trading performance. Monitoring positions is a breeze with the advanced charting functionality and order management tools. Within the search functions, assets are grouped into categories although you will find that you are unable to search by an asset’s name.

    This trading platform was designed primarily to trade Forex, although it is possible to trade other financial instruments. Whilst you are unable to set alerts and notifications on the web version of this trading platform, this is a feature that is available on the mobile app and desktop trading platform.
    AvaSocial
    AvaSocial is one of the more recent launches at AvaTrade, a mobile app allowing traders to follow and chat with other traders and copy their trades. This is provided by a third party called Pelican Trading who are FCA regulated.

    Within AvaSocial you can find successful traders to copy, examine their trading history, set budgets and limits, and access automated trading. This is an excellent platform for new traders to develop their skills and knowledge.

    In addition to this, AvaTrade offers social trading through a further two third parties, DupliTrade and ZuluTrade. The minimum deposit for ZuluTrade is $500, however, in order to start social trading with DupliTrade, you would need a $2,000 minimum deposit.
    AvaTradeGO
    AvaTradeGO is AvaTrade’s flagship mobile trading platform, providing users with an intuitive, user-friendly mobile trading experience. In terms of features, users will recognise many of the tools available on the web trading platform including some extra social and copy trading features.

    Other features include news, charting tools with 93 indicators, watchlists and risk management tools such as stop-loss, limit orders, and AvaProtect which I have gone into in more detail in the Webtrader section of this AvaTrade review.