AvaTrade Review Australia & Test 2021
Is AvaTrade Safe Or Scam?
Are you considering AvaTrade Australia as your online trading platform? This AvaTrade review on Wetten Australia will give you insight into the platform, its ease of use, fees involved and much more. Keep reading to find out more.
Our AvaTrade ranking as high as the trading site caters for both novice and experienced traders, mobile or desktop users and a seemingly limitless amount of trading options. Beginners receive as much guidance as they would like on AvaTrade Australia (from step-by-step to a demo account) and novice traders are spoilt for choice between trading platforms and options (forex, cryptocurrencies and CFDs).
Is AvaTrade safe? After this AvaTrade Review, it will be clear what experience a new customer can expect when considering AvaTrade Australia as their online broker. From the start, it’s easy to notice that AvaTrade has taken a customer-centric approach with their trading platforms. The website is very easy to navigate, you can register for an account by simply clicking the button on the home page or just below it you can set up a demo account if you’re not quite comfortable start trading immediately. A demo account only requires a username and password and you’re set to go.
AvaTrade Australia has an educational platform specifically aimed at educating beginners in trading – everything is found under the Education tab on the menu with guides, videos and more; including a step-by-step guide to trading.
This AvaTrade review Australia really shows the effort they are making for traders who are still testing the trading waters and wanting to see how things work before jumping into the trading game head-on. The AvaSocial app is a great place to start. Once you’ve downloaded the app you’ll be able to learn from the world’s experts as you follow their trades. The app also gives you the option to automate your trades, which will mimic the trades of the experts. Read more about a competitor who offers the same option on our FP Markets Australia review.
As previously mentioned, our team of experts at Wetten.com are impressed that the AvaTrade website was definitely created with the customer in mind with its easy-to-use navigation, as a result, our AvaTrade ranking is high. Your trading options are seemingly endless as each tab on the home page offers a list of options – under Forex trading the option is explained as well as the live charts to assist you with your trading. The CFD trading tab shows you all your trading options; Indices, shares, commodities, ETF and bonds. Finally, the Cryptocurrency trading tab shows you all 8 cryptocurrencies available – with Bitcoin, Litecoin, Ripple included.
Our AvaTrade rating increases as AvaTrade Australia allows customers to trade from the US Dollar and the Euro. Moreover, A refer-a-friend program also provides the potential for more earnings; as your network grows you can earn a commission. To see other broker offers, read our BellDirect Review.
With 200,000 registered customers; executing more than two million trades per month, it’s clear that there is no AvaTrade scam. AvaTrade Australia’s trading platforms provide for both experienced traders and novices – with a no-strings-attached demo account for beginners and a variety of accounts for more experienced traders.
This AvaTrade review explains how easy it is to open a basic trading account; you can use your social media accounts (Facebook or Google) or you can take a minute to fill in your information as it appears on your ID and you’re good to go. Once you’ve set up your account you will be in the verification process – all you need is a valid ID and proof of residence to verify your AvaTrade account and a minimum deposit of $100 is required to start trading.
There are more account options – the professional trading account is available to very experienced traders – with criteria including experience requirements (minimum of 12 months leverage trading experience) as well as wealth requirements. AvaTrade Australia also offers a MAM (Multi-Account Manager) for money managers who are trading for clients. AvaTrade Australia even has an Islamic trading account – to cater for their Muslim clients, which operates under Sharia Law.
Part of this AvaTrade review is uncovering any costs that a customer may face when trading using AvaTrade Australia – an inactivity fee is one of these costs. After 3 months of non-use, an inactivity fee will be subtracted from the value of your trading account, which is to the value of $50. Check out our FXCM review Australia to compare inactivity fees.
AvaTrade prides itself in providing a seamless deposit and withdrawal process, customers have a variety of options in both cases. Depositing funds into your AvaTrade Australia account is as easy as a bank deposit – you could even make use of online ewallets if they’re available at your bank and your country of residence. Once your account has been approved and verified you are all set to start depositing.
Due to the variety of trading options found on AvaTrade Australia, a trader’s costs will vary. In the case of bitcoin trading, AvaTrade does not charge any miner fees or administration costs. Depending on the amount of time that customers would like to hold tardes, there are overnight fees when trading with AvaTrade.
Our experts at Wetten Australia would advise customers to do thorough research prior to trading with AvaTrade and checking the costs associated with the different trading options. Fees are something that will be applicable to all online brokers, read our Oanda review to see fees associated with another service.
When it comes to using the AvaTrade Australia service, you will need to consider what platforms are made available within their service. They have followed the numerous other brokers within the industry and decided to offer customers the opportunity to sign up and make use of the MetaTrader 4 and 5 software packages. You will also be able take advantage of their web trading service which will allow you to complete your transitions all via their website.
Our AvaTrade review Australia found that the online broker went to extraordinary lengths to ensure that each and every customer is able to complete the trades they are interested in. You will also be able to use the Mac Trading and mobile trading service that they provide. If you would like to see just how a competing broker manages to compare, be sure to head to our Oanda review right here at Wetten Australia.
With AvaTrade Australia you have the option of trading with cryptocurrencies, forex and CFDs. AvaTrade Australia promises exceptional service to all clients, their seamless withdrawal process takes only 24-48 hours to complete – if the trader’s account has been verified. That being said, you won’t have any funds to withdraw if you haven’t made the necessary deposits to hopefully make some gains on your investment. Every broker service on the market is looking to outdo the next by providing as many payment methods as possible to their prospective clients.
With this AvaTrade review, we found that you will be able to fund your account using a variety of methods. You will be able to use the POli service as well as the traditional credit card service that are available with most online brokers. The service does offer support to customers looking to transact with Skrill, WebMoney and Neteller but unfortunately both European and Australian clients are excluded from these services. This range of payment methods is certainly below average and you can find more extensive offers in our Blueberry Markets review.
An online broker service will always only be as good as the customer support that the online operator manages to provide. With AvaTrade Australia, you will be able to make use of their comprehensive FAQ section to answer any questions surrounding their service and/or trading platform. There is a vast range of different questions listed within the help centre and you should be able to find what you are looking for there.
If the FAQ hasn’t managed to meet your needs, you can also contact the online broker using a variety of methods. You will be able to use a dedicated Australian telephone number to get hold of the team or an international one if you are travelling abroad. There is also an option to send the team an email to further detail the query that you might have. Remember that the trading hours of Avatrade run from Sunday 21:00 GMT until Friday 21:00 GMT. Cryptocurrency trading is 24/7.
There is also a live chat feature on offer with AvaTrade and they have included the option of having a voice chat with a customer service representative. This is by far the fastest method of contact within the industry and it is highly recommended that any questions be forwarded using this method. If you are looking to compare this offer to other brokers, head to our TradeStation review Australia page.
Another crucial aspect of our reviews considers what regulations the online broker has to abide by in order to offer their service to Australian customers. With AvaTrade Australia, you will find that their service is authorised and supervised by the Australian Securities and Investments Commission. You can also forward any complaints to the Australian Financial Complaints Authority if you have encountered some illegitimate service from AvaTrade. This is about the industry standard when it comes to regulation and you can trade with a certain degree of safety with this online broker.
In terms of deposit insurance, AvaTrade makes use of segregated client funds to ensure that you are not susceptible to any criminal activities out there. Unfortunately, there is only a deposit compensation scheme available to European customers. It would be great to see this option added for Australian customers.
This concludes our AvaTrade review Australia. The online broker has managed to assemble a fairly comprehensive online broker experience and you will be able to take full advantage of the offer quite easily if you have the necessary documentation and details. AvaTrade offers world-renowned trading platforms and you will find it remarkably easy to complete any foreign currency trades within these services. If you are looking to enter the online trading industry, you shouldn’t have any complaints with this online broker.