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ASIC, FSA, FSB, MiFID
Avatrade broker review
Financial trading suppose to be a sort of a win-win relationship. And what do the guys think when it comes to the relationship? Yes, the girls. While an average guy is expected to have between 5 and 7 girlfriends during his lifetime, we all know that there will always be that one girl that a guy uses to compare the new ones. This is never the best girl he had, more likely it is the one that had her ups and downs, yet she was quite solid to break up with her after a fight or a few. Today we are going to review Avatrade – your average girlfriend.
Is it safe to date Avatrade?
The first thing one should think of before starting a relationship is the safety. You don’t really want end up dating a gold digger or, even worse, someone with a bunch of STDs. This is where you can be sure that Avatrade is a partner you can trust.
Avatrade EU Ltd is the company that onboards the European clients, and it is regulated by the Central Bank of Ireland. This is one of the only FX and CFDs brokers with this regulation and it certainly makes it a safe choice. As an additional advantage, Irish financial regulation has not yet been influenced by the European Securities and Market Authority updates, hence you can still use a high leverage and get some trading benefits with this broker.
Apart from that, AVA Trade Ltd is authorised by the BVI FInancial Services Commission, and this lets this broker offer regulated services even from the clients outside of the EU. Australian and South African FX traders would also appreciate that this broker offers services that are regulated by the FSB and the ASIC.
What makes Avatrade unique is that it is amongst few brokers that provide regulated financial trading services in Japan.
What Avatrade Exes think of her?
Even though Avatrade looks pretty good and seems to be safe, we also have to examine the opinions of the people that have been into the relationship with Avatrade before. When looking up the reviews online, we do see quite many negative reviews over the course of the last few years. While this brokerage may seem trusted and regulated, there have been some major issues reported. Most of these problems are related to the speed of the withdrawals. Hence, we may conclude that Avatrade is a girlfriend that might be a bit more interested in your money than your personality.
We do, however, have to warn you. The Retail FX is a sea full of sharks, and you should not trust all of the negative reviews. Those can certainly be written by the competitors. However, the lack of positive reviews is what stroke us the most.
What does Avatrade bring to the table?
With this broker you can be sure that you are given a lot to be successful in trading. Well, at least when it comes to the software. First of all, you are provided with a brick and mortar platform – MetaTrader 4. This means if Avatrade is not your first girl, you already know how to she functions.
But sometimes we look for something entirely new in our next relationship, and this is where Avatrade fulfils our needs too.
This broker lets you trade with its custom made platform – AvaTradeAct. This piece of software is available for the mobile phones and as a Windows application. It does not support a web version, hence the Mac users will not be able to try it out that easily.
Also, the brokerage has recently released AvaTradeGo – a powerful mobile trading platform.
Will you go broke dating Avatrade?
As we already mentioned, Avatrade is just an average broker. And same goes for its costs. The spread is the only cost you would have to pay, meaning there are no commissions.
The broker offers both floating and fixed spreads, and it is obvious that the spreads aren’t the lowest on the market. You may treat it as the price you have to pay for the lack of commissions and strong regulation.
Should you say Yes?
All in all, Avatrade is an ok broker and opting out for it would provide you with a strongly regulated trading partner, no matter what your location is. Having said this, it seems that lately the broker has been getting quite some negative feedback, and it may be better to test it out on a small deposit first.