Avatrade Review
avatrade review

This is a review from a traders experience from the Avatrade platform. If you are looking for a short summary of the features we recommend Avatrade summary.

Avatrade Review Summary


AvaTrade is a financial broker that offers traders the opportunity to trade cryptocurrencies, such as Bitcoin, Ethereum, Ripple, Dash and Litecoin. AvaTrade also offers a wide range of other financial instruments, such as Forex, stocks, metals, energies, ETFs, indices. In this review, we’ll be looking at the process of opening an account as well as how easy it is to trade using their proprietary platform.

1. Opening an Account

1.1 Choosing Platform

2. AvaTradeAct and Mirror Trader
2.1 Multiple Customizable Workspaces
2.2 The Video Tutorials
2.3 Highly Adaptive and Intuitive
2.4Trading Instruments Are Easy to Find
2.5 Access to Paid Applications

2.6 Educational Materials

2.7 What We Didn’t Like in AvaTradeAct
3. Conclusion

 

1. Opening an Account


The AvaTrade website is well organized in that you can easily find where to open an account. The two big buttons on the home page are hard to miss. So, we started by opening a demo account. It was easy. All they ask for is your name, email address, and phone number.

 

avatrade review frontpage

Once the demo account is open, you can create real accounts from within the system. First, you have to create the main “Real” account, which will require more information than you previously gave.

They ask about your experience trading, as well as your physical address, information about your main field of work, earnings and net worth. It’s not as intrusive as it might sound.  AvaTrade requires each trader to have previous trading experience.

 

1.1 Choosing Platform


Moving on to choosing the platform. For the demo account, you only get MetaTrader 4. They offer both a downloadable version and a web version, which we think is a pretty good idea. However, when you sign up for a real account, you can choose between five platforms, namely:

·        AvaOptions

·        AvaTradeAct

·        Floating Spread

·        MetaTrader 4

·        Mirror Trader

The information about each platform is available on their website and in our AvaTrade summary.

So, now let’s move on to the platforms themselves. Note that you will have to create a separate account for each platform you want to use. This also means they need to be funded separately too.

2. AvaTradeAct and Mirror Trader


Mirror Trader is a platform that supposedly allows you to copy the trades of more experienced and successful traders. Apparently, you can switch from manual to fully automated and can choose the trades by ranking traders based on their performance.

We created an account and tried to use the web version of the platform. However, it didn’t seem to want to load, so we ended up using the desktop version.

The platform itself is attractive, and we have to admit that we like the fact that it’s on a dark background by default. After staring at computer screens for many more hours per day than we should for many more years than we want to remember, bright white backgrounds tend to cause us severe eye strain. So, it’s nice that with this platform, we don’t have to squint while quickly changing the color scheme.

 

However, there are some issues. Certain tabs take a while to download the content. Considering we have an internet connection with a download speed of 500GB, that should not be happening.

We clicked through all the tabs, just to get familiar with the platform. At this point, we discovered the Video Tutorials tab, which features exactly what you’d expect. This wasn’t just useful, but a really great idea. Offering access to the tutorials in the platform itself makes life more convenient.

And at this point, we discovered that Mirror Trader and AvaTradeAct – the other AvaTrade platform – are actually one and the same.

So, here’s what we liked about the Act Trade Platform:

2.1 Multiple Customizable Workspaces


In AvaTradeAct, you can create multiple workspaces that are fully customizable, which is a pretty cool feature. It’s a bit like having multiple desktops in Windows 10. You can populate each workspace with whatever you want, including news, charts, economic calendars, Twitter, Facebook and more.

For example, below, we have a chart, the economic calendar, Twitter, and the news feed. We really like this level of customization, and find it especially useful when trading different instruments. It’s also nice that you don’t have to recreate them every time you launch the platform.

2.2 The Video Tutorials


The video tutorials are really useful. They give you all the information you need to trade using the AvaTradeAct platform in an easy to digest and understand format. Many other platforms, including MetaTrader, throw a ton of documentation at you. This approach, though, is much more effective. After all, it’s easier to understand something when it’s being demonstrated.

It should be noted that you won’t find any tutorials on trading cryptocurrencies in this section. In fact, you won’t find any trading tutorials here at all. All the videos in the tab are geared towards teaching you how to use the platform.

2.3 Avatrade Video Tutorials


The video tutorials are really useful. They give you all the information you need to trade using the AvaTradeAct platform in an easy to digest and understand format. Many other platforms, including MetaTrader, throw a ton of documentation at you. This approach, though, is much more effective. After all, it’s easier to understand something when it’s being demonstrated.

It should be noted that you won’t find any tutorials on trading cryptocurrencies in this section. In fact, you won’t find any trading tutorials here at all. All the videos in the tab are geared towards teaching you how to use the platform.

2.4 Trading Instruments Are Easy to Find


There’s a big button in the top ribbon under Home labeled Instrument Catalog. When you click it, a new window appears with all the instruments sorted by category, with the Bitcoin, Ethereum, Ripple, Dash and Litecoin cryptocurrencies included under FX instruments. The window also has a search field so you can easily find something specific.

In MetaTrader 4, while the instruments are well categorized, with a separate category for cryptocurrencies, it can take a bit of poking around until you find them. So, it was nice seeing the instruments so easily accessible in AvaTradeAct.

It should be noted that you won’t find any tutorials on trading cryptocurrencies in this section. In fact, you won’t find any trading tutorials here at all. All the videos in the tab are geared towards teaching you how to use the platform.

2.5 Access to Paid Applications


The platform also has an FX Apps page where free indicators but also paid applications are available. Our first reaction was not favorable but when we realized that all these applications had been written by individuals using the platform, we saw the benefits. Instead of having to hunt down a specific EA like you do with MetaTrader 4, you have everything in one easy-to-access place.

It’s also good news because it means that people are coding applications for the platform, so you can pretty much get anything made. AvaTrade also offers a list of freelancers you can get in touch with to create custom applications, which is definitely a positive.

2.6 Educational Materials


Though not part of the platform, it’s worth mentioning that AvaTrade offers extensive educational materials on their website. They have a whole section dedicated to helping traders learn what they need to so they can succeed.

The educational materials are split into sections as follows:

  • Trading for beginners: Forex, paper trading, options and more are covered to help novice traders learn everything they need to know to get started. There’s even a section dedicated to trading cryptocurrencies.
  • Economic Indicators: This section takes a look at some of the most important economic indicators that affect the price of financial instruments. They also have a schedule for when Euro, Asian and US indicators are released.
  • Videos: This section included the video tutorial for the AvaTradeAct platform, but also for MetaTrader 4. There are also beginner Forex trading lessons, Forex strategies, and advanced trading tools videos that look at thing such as trading psychology, market analysis, technical analysis and more.
  • Forex eBook: The book “FOREX First Steps” is meant to introduce new traders to the world of Forex trading. However, it also serves as a good reminder for more advance traders that they must never forget the basics.

All the educational materials are available for free, including the eBook. For the latter, you simply have to fill out your name, email, country, and phone number.

2.7 What We Didn’t Like in AvaTradeAct


While we really liked the platform, the one thing we really didn’t like was how long it took some of the pages to work. For example, with the FX Apps page, it took forever to switch from page 1 to page 2. In fact, in some cases, it didn’t work at all.

This makes us wonder in terms of the accuracy of the quotes. They might not be affected by this lag at all, but it’s enough to make us wonder.

3. Conclusion


In conclusion, we really like the AvaTradeAct platform. It has lots of potentials and is definitely more user-friendly than MetaTrader 4. It could certainly do with a little polishing in various areas, but those are minor grievances. The level of flexibility alone made it a winner for us.

However, where AvaTrade needs more work is the account opening process. It’s a little cumbersome and they don’t offer enough information. So, if you want to know what you’re signing up for, you have to research on your own, which is the point most people would abandon it altogether.

Instaforex

⭐⭐⭐⭐

Instaforex Review

Markets: 

Fees: 

Platforms: 

Features: 

Support: 

Deposit Methods: 

Forums: 

Promotion: 

Education: 

Regulated: 

Plus500

⭐⭐⭐⭐⭐

Plus500 Review

Markets: 

Fees: 

Platforms: 

Features: 

Support: 

Deposit Methods: 

Forums: 

Promotion: 

Education: 

Regulated: 

Etoro

⭐⭐⭐⭐

Etoro Review

Markets: 

Fees: 

Platforms: 

Features: 

Support: ⬤

Deposit Methods: 

Forums:

Promotion: 

Education: 

Regulated: 

SimpleFX

⭐⭐⭐⭐

SimpleFX Review

Markets: ⬤

Fees: 

Platforms: 

Features: 

Support: 

Deposit Methods: 

Forums: 

Promotion: 

Education: 

Regulated: