Just like anything in life, it is easier to look for the negative, scrutinizing the downside, affirming it is just as enticing as contemplating on what good can come out of something–if not altogether more inviting.
But of course, in this day and age of living in virtual spaces, negativity can easily be disseminated and archived for the entire world to experience. The positive? Well, of course, it has its chance, but when you look at a white paper with a singular black dot in the center, you simply cannot zero-in on that blemish, right?
This is what has happened to Brokerage Firm, AvaTrade. An examination of its online reputation would render polarized reviews in that the online community is split between affirming its bad image and placing it in a more positive light.
This short AvaTrade review does not necessarily aim at reviewing the broker in an optimistic note, but rather, simply presenting its offers and capabilities. The feature would also do well by presenting a number of the negative and positive reviews that AvaTrade had received during the course of its tenure in the industry.
AvaTrade: Things from the Get-Go
AvaTrade is relatively young in the brokerage game. It had only seen the electronic light of day back in 2011, although some sites say that it had been around as a legal entity since 2006. It is duly regulated through the following legal conditions:
1. Three Tier-1 Jurisdictions:
Australian Securities & Investment Commission (ASIC)
Japanese Financial Services
Investment Industry Regulatory Organization of Canada (IIROC)
2. Three Tier-2 Jurisdictions
What this tells interested parties is that AvaTrade is safe to trade with, being low-risk for both Forex and CFDs.
AvaTrade offers four (4) trading platforms:
- MetaTrader4 (in some areas, MT5)
The last two are used for copy trading. And while the propriety platforms are easy to use, online assessments by reliable sources suggest that the functions could be better. The platforms are somewhat rudimentary, with little standout features.
However, it is worthy of note that the AvaTrade, having the capability for Copy Trading was furnished the title, “Best in Class” early this year.
As this is the case, analysts are keeping tabs on AvaTrade’s progress, deeming that the broker might go further in the field.
AvaTrade is not publicly-traded. Its terms do not operate a bank.
AutoChartist is AvaTrade’s piece de resistance in research. Its online reputation is quick to declare that it has a comprehensive set of tools of pattern recognition when delving into Technical and Fundamental Analysis.
It is made available to traders who are scouting the platform for trending opportunities. AutoChartist can be accessed through live accounts with an AvaTrade minimum deposit of $500.
SharpTrader is yet another facet of the platform worthy of looking into. This function allows users to find daily easily and weekly releases of Technical and Fundamental articles.
AvaTrade has an AvaTradeGO app for mobile that has watchlists, a protection measure for volatility called AvaProtect, and 93 indicators.
AvaTrade also has an AvaOptions mobile application that reinvented the way Options Traders choose strike prices, time-horizon, and strategy without having to navigate through a lot of tabs.
AvaTrade makes the following investment products available to its users:
- It has a capability for Spot Trading
- Its currency pair offerings amount to 60
- CFDs number to 681
- Cryptocurrencies may be traded as CFDs
Fees and Commissions
Admittedly, spreads are not AvaTrade’s forte. Its average spreads prove higher than the top players.
The following stands for AvaTrade as of 2019:
- AvaTrade Minimum Deposit: $100.00
- The Average Spread EUR/USD Standard is pegged at 0.92
- All-in Cost EUR/USD – Active is pegged at 0.62
- It offers Active Trader or VIP Discounts
What the online community agrees to are the many instances that AvaTrade’s customer support does not deliver. In a test conducted that spanned 6 weeks, the support team proved to be irresponsive and took really longer to connect (5 minutes to be precise)
As mentioned before, AvaTrade’s online reputation is one that is split. Others attest to it being unreliable, even tagging it as an AvaTrade scam, while others are praising it for being one of the best brokers out there.
Below are snipping that show just how divided netizens are with their views and experience with AvaTrade. Their validity and legitimacy, while can be verified through an online review hub, are things you need to take with a grain of salt. We leave you to your impression of these comments:
It’s All Up to You
With AvaTrade’s features, offerings, and online reviews layout, the decision whether you would want to employ AvaTrade’s services is now in your hands. For this cause, through what had been presented, weighing fact over opinion may prove to be a daunting task, especially when words can easily sway you to an otherwise solid decision. It is to our hope that this feature had been objective enough in its presentation.
But of course, this feature is only one amongst the many that you can find. Hence, due diligence is a must for those who really want to find things out for themselves. Leave no stone unturned. Your hard-earned money deserves it.