AvaTrade is a forex broker that is used by people to trade with each other through the online platform. The question about the authenticity of this and other forex trading platforms has arisen on several occasions. Some people believe that this is another online scam created by someone to con them off their money. Other questions regarding AvaTrade are whether or not it is cheap to use, whether or not it is easy to trade using their online platform. In general, the question is, Is AvaTrade a good forex trading broker or not?
AvaTrade review defining characteristics neither point it to being a scam nor being a site used to defraud unsuspecting individuals. For instance, it is overseen and regulated by bodies such as The Central Bank of Ireland, which is also partially regulates the European Union. It’s also registered with Spain’s National Securities Market Commission. This makes it very secure for one to trade using AvaTrade.
The platform also doesn’t charge any commission, which makes the traders using it to give good opinions about it as they could be charging double if they wanted to, but they opted to use spreads as the incurred cost for the trader. The leverage option given by AvaTrade is also very enticing. They give it at a ratio of 1:400. This kind of leverage comes with high risks which the traders using AvaTrade also appreciate. This is because the company has a policy of using not less than 100 dollars as a deposit. With that kind of leverage, one can trade with an amount of 40,000 which is very impressive when compared to other trading platforms.
AvaTrade is also good as it provides other platforms for trading. These include the MetaTrader 4, AvaOptions, which allows traders to trade over-the-counter (OTC) by allowing calling between traders. The fact that AvaTrade has a physical office in Dublin, Ireland, assures prospective traders that they won’t be scammed off their money. Also, AvaTrade allows one to open a simulation account, whereby one can trade using virtual currency without depositing to their account. This helps beginners or people new to the platform to familiarize themselves with the website before committing to make their first deposit.