AvaTrade has been an immensely popular online Forex trading broker with traders around the world for many years. However, is AvaTrade all it is cut out to be, or is it a scam broker? We take a closer look at all that AvaTrade offers in this comprehensive review.
AvaTrade Regulation and Licensing
In order to protect its customers, AvaTrade is licensed by a significant number of top-tier regulators around the world, as found in this AvaTrade review.
Added to this, AvaTrade protects all customers from losing more than their initial deposit in the event of a negative balance. As such, AvaTrade has been awarded numerous accolades from the financial business, bolstering its reputation as a safe broker.
AvaTrade Platforms
Our AvaTrade review found that you can trade on Android and iOS devices with the MetaTrader 4 and 5 platforms. Additional to this, AvaTradeGO is also available from the broker.
You can access educational videos, market analysis materials, and customer support all from within the app’s dashboard and home screen. In addition, it has a powerful search function, and it’s easy to order, set price alerts, and create watchlists.
AvaTrade Trading Fees
AvaTrade’s account requires a minimum deposit of 100 USD, which makes it accessible to the majority of traders in Nigeria. Foreign exchange traders will discover spreads of 0.9 pips (EUR/USD), which is close to the industry average. There are no charges payable for foreign exchange trading.
AvaTrade Trading Instruments
AvaTrade provides access to a variety of asset types that are not available through other brokers. Among these are 55 vanilla options, which can only be traded on AvaTrade’s AvaOptions platform.
There are also two bonds, 59 exchange-traded funds, and 13 cryptocurrencies, which provide traders with exceptional asset diversity.
When compared to other brokers, AvaTrade offers a similar quantity of assets, but it really stands out for its speciality instruments, which include vanilla options, ETFs, bonds, and cryptocurrencies, among other things.
AvaTrade Deposits and Withdrawals
AvaTrade provides a reasonable selection of funding options, and both deposits and withdrawals are completely free. Due to the fact that AvaTrade is a well-regulated broker, it ensures that all Anti-Money Laundering rules and regulations are followed.
As a result, all non-profit withdrawals are returned to their original source of deposit. To withdraw funds to a credit or debit card, traders can only take up to 100 percent of their initial deposit.
Following that, monies may be taken from the account using another method under the trader’s name.
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Is AvaTrade a Scam?
Overall, AvaTrade is not a scam broker. In addition to minimal fees, AvaTrade offers a vast variety of trading products, as well as a choice of four different trading platforms.
For Nigerian traders, AvaTrade has some of the greatest trading tools available, as well as the top instructional and market analysis resources. If you’re looking for an all-around Forex broker, AvaTrade is a great option.
There is also a famous mobile app from AvaTrade called “AvatradeGO,” which is a terrific way to control risk while also connecting directly to AvaSocial, which is AvaTrade’s well-known social trading platform.
Read More: Top Forex Brokers in Nigeria