AvaTrade was founded in Dublin, Ireland back in 2006. Unlike most online forex brokers, AvaTrade is licensed and regulated within the European Union by the Central Bank of Ireland. The company operates as an investment firm controlled by the Financial Instruments Directive (MiFID). In addition, AvaTrade is also licensed to operate in Australia under the Australian Securities and Investment Commission. The company has a lot of positive feedback on the stock market in Australia.
AvaTrade offers various financial instruments ranging from Cryptocurrencies to commodities and indices. It is also worth noting that AvaTrade is one of the few forex brokers that do not charge their clients for trading. It also provides some of the most competitive spreads in the market. One of the things that attract most traders is the ability to trade easily as well as a lowered risk of loss. The following are some of the pros and cons of trading with AvaTrade.
- Access to several financial markets. One greatest advantage of trading with AvaTrade is its ability to expose traders to multiple financial markets such as the Cryptocurrency market, stock market, and EFT.
- Multiple trading platforms. AvaTrade is also among the few online forex brokers that provide multiple trading tools that traders can choose from. Some of them include; Meta Trader 4 platform, Meta trader for Mac, Meta trader for web trading, Meta trader for mobile phone version among others. Besides, AvaTrade has its own home-made trading software designed to make trading easy for customers.
- Protection from negative balance. AvaTrade guarantees all its clients that the balance on their trading accounts will never fall below zero.
The following are some of the disadvantages of AvaTrade
- Long withdrawal period. Withdrawal of cash from AvaTrade can sometimes last up to 10 days which can be upsetting to some traders.
- There are no discounts for large volume trading. AvaTrade pays the same both for those who trade with large amounts and those with small amounts.
- Risk of money loses. As a trader, you should understand that you can lose large sums of money while trading with AvaTrade.