AvaTrade Malaysia – A.E.A. honest review

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AvaTrade is a “Contract for difference” (CFD) online broker, founded in 2006 in Ireland.

They offer relatively competitive spreads on a variety of assets, mainly stocks, currencies, indices, commodities as well as cryptocurrencies.

Both deposits and withdrawals are free, but there is a minimum deposit of $100.

You will find AvaTrade offices in six countries, which also means they’re regulated under six different jurisdictions. Generally, speaking the broker is considered safe and secure to trade on.

Their research and education sections have grown substantially in the past year. The platform now features a variety of videos on market analysis and different free courses.

Pros

Cons

  • Full range of crypto and forex instruments
  • Their offer includes hidden fees
  • Their social trading features are unique
  • They do not have MT5 integration
  • Great educational material
  • No news and research on platforms

AvaTrade review – Pros and cons of AvaTrade

Commission and Fees

Generally speaking, AvaTrade’s trading fees (they are built into the spreads) are competitive in comparison to similar brokers.

Each financial instrument on its platform comes with information on the spreads. Note that they only relate to fixed spread as there is no information on the floating spreads. This particular info is found within the FAQ section.

AvaTrade doesn’t charge for deposits or withdrawals but they do have overnight fees, maturity rollover, and inactivity fees.

Traders incur the inactivity fee of $50 if they don’t use the account for more than 3 months. In the case of year-long inactivity the fee increases to $100.

Be aware that third banks might set their commission on deposits and withdrawals, independent from the broker.

AvaTrade doesn’t charge for deposits or withdrawals

Opening an account

Opening an account is an easy and straightforward process. From the main page on their website, you click on “Register now”, choose either a Real or Demo account.

Then fill in your name and email address, choose either individual or joint account, and click on Create account.

In the end, fill in and complete the registration form, and Verify your account.

AvaTrade offers three different accounts: Standard, Corporate, and Islamic.

You can also request to open a Professional Trading account which allows trading with higher leverage. To be able to do that, you’ll need to first prove a »sufficient trading activity in the last 12 months«, relevant experience in the financial services sector and financial instrument portfolio of over €500,000.

In order to verify your account you will need to provide the following documents:

  1. Proof of ID – A colored copy of a valid government-issued ID (e.g. Passport, ID card, driver’s license), containing the following information: name, picture, and date of birth.
  2. Proof of Address – A utility bill for address verification (e.g. electricity, water, gas, landline phone, local authority waste disposal).

Trading platforms

AvaTrade offers desktop and mobile trading platfroms. Mobile app is available in both IOS and Android version.

Desktop trading

AvaTrade offers clients desktop and mobile trading platforms.

Desktop versions are well-designed and intuitive. We found them easy-to-use and, generally speaking, without any noticeable bugs.

They provide the following platforms:

  • Webtrader, AvaTrade’s own trading platform
  • MetaTrader 4, a third-party trading platform
  • MetaTrader 5, a third-party trading platform
  • DupliTrade
  • ZuluTrade 
  • AvaOptions, AvaTrade’s own trading platform for forex options

The Webtrade, for instance, has an especially nice feel. It’s user-friendly and the search functions work well. The only problems are the lack of alerts and the possibilities for customization.

Their ZuluTrade and DupliTrade platforms allow social and copy trading.

Mobile trading

The AvaTradeGO platform has been released in November 2017. It is available in both iOS and Android versions.

This app has the feel and layout that is more friendly for newer and inexperienced traders. It provides step-by-step directions on how to open trades, for instance.

Beyond the usual mobile functions like search function or alerts, even education videos and the customer support chat are available right within the app. It’s a nice and useful detail.  You can set price alerts that can send you push notifications.

Investment Products

AvaTrade has an impressive list of CFDs, forex – they offer 55 currency pairs – and options trading instruments, with an additional 9 cryptocurrencies. These instruments allow for new opportunities for those traders comfortable with high-risk speculation.

The CFD instruments include 18 commodities and 20 indices, as well as 600 shares and 5 EFTs, which are dominated by US big tech stocks. The UK and Irish clients can open spread betting accounts which is a nice addition to an already full-featured catalog.

In comparison to the competition, AvaTrade is nicely balanced across all assets – this is also one of their biggest advantages.

Regulation

AvaTrade offers traders a client account protection of up to 20,000 EUR. The compensation is provided through Ireland’s regICCL (Ireland Investor Compensation Company). Client funds are held in a separate segregated account.

Please note that the level of protection depends on the jurisdiction that your account falls into.

AvaTrade also offers negative balance protection – but only if your account is linked to European residency. Professional and non-EU clients are not covered with any negative balance protection.

As mentioned, AvaTrade’s subsidiaries are regulated under seven different jurisdictions:

  • Central Bank of Ireland
  • V.I Financial Services Commission on the British Virgin Islands
  • Australian Securities and Investments Commission (ASIC)
  • Financial Sector Conduct Authority (FSCA) in South Africa
  • Japanese Financial Services Agency (FSA)
  • Financial Futures Association of Japan (FFAJ)
  • Abu Dhabi Global Market Authorities Financial Services Regulatory Authority (ADGM – FSRA)

Education

AvaTrade offers education material in a form of Youtube videos, tutorials and webinars. Topics are well arranged and easy to comprehend.

Pros

Cons

  • Chart is interactive, design pretty good
  • None
  • Sharing how to trade ideas
 
  • Good user experience
 

The education section is another highlight of the broker. As a trader, you can learn through:

  • Demo account
  • Platform tutorial videos
  • General educational videos
  • Quality educational articles
  • Webinars

Most of the material is divided into five major sections. This allows traders to find answers to questions quicker and easier. Within the video library, you will also find exceptionally lot of videos and they have great quality.

Research

AvaTrade provides several research tools. The most commonly used are the trading ideas which are based on the technical indicators, economic calendar, and charting tools.  There are 90 technical indicators you can use, which is more than enough.

Under the “Market Buzz” you can find AvaTrade’s news feed that is one of the best in the industry.

Also provided are up-to-date articles on fundamental analysis.

Customer Support

Most questions are addressed through the FAQ section.

If you don’t find your answer there, AvaTrade offers a 24/7 phone and chat support system. They are also present on social media and available through an online form.

Their live chat can be cumbersome at times, and you may have to wait for up to 10 minutes before you are put through to the support agent.

AvaTrade has international offices, providing local contact whenever it is needed. They also have an international number, as well as a number of local phone numbers over different EU member states.

AvaTrade review - Customer support
AvaTrade review – Customer support

What You Need To Know

AvaTrade is a safe, reliable, and trustworthy online broker. Its platform is easy-to-use and beginner-friendly.

The spreads are competitive, and the product catalog will satisfy most traders.

The broker’s inactivity fee is above-average, however. But, on the other, the research tools and educational resources are one of the best in the industry.

All in all, we recommend AvaTrade to all traders who are searching for a reliable and safe broker and are not satisfied with the cheapest providers.

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