Forex broker Avatrade review
Avatrade is not one of the biggest forex brokers out there, but it is surely a very sound broker. Along with foreign-currency trading, the broker deals with CFD trade, which is a signal of more active and practical trading on his platform. This platform also provides basic trading tools, and some are even for the advanced traders. However, the broker doesn’t provide a full list of analytical tools.
Still, a majority of the traders will find everything that they are looking through this platform. It is very easy to get started as it takes a few minutes to make an account. A trader can easily manage his deposits on this platform.
Initial Investment- with just one hundred US $, a trader can open an account. This account is known as “silver” account. With this amount, you can practice all the live trading account techniques. If you are looking for higher investments, you can switch to the “gold” account whose minimum required deposit is $1,000. Another option is to go for the platinum account which requires around $10,000. The major difference between all these accounts is the amount of bonuses.
Deposits and withdrawals- One can easily open an account on this platform, and it is easily done through the internet. The platform offers a number of ways to withdraw and deposit funds. It includes bank transfers, credit cards, and PayPal.
Stop Point- It seems like the broker doesn’t offer any stop point. However, you can contact the broker and request him to add a stop point and then set it for all the market conditions.
Interest- To learn about interest, you should contact the broker and ask him how he calculates the interest and under which condition.
Regulation- One down side of the broker is that it isn’t regulated. However, the broker claims that he is being monitored on the quarterly basis by a major financial institution of the Germany.
Advantages- This platform is really good for the newcomers. They can easily find a working partner in the form of a broker. The fact of the matter is that he allows opening an account in the easiest possible way, and that is with a very low initial deposit. Before moving to the live account, a trader can use a “demo account” for the practice purpose. He can test a variety of currency pairs in the demo account along with CFD. The cost of terms spread is relatively very low, and it is even lower than the competitors.
Disadvantages- Since the platform involves trading with a variety of analytical tools, every trader might not “click” with it. It is definitely not the very best of the trading platforms that are available in the market. Those who are experienced trader might want to shift their attention to other platforms where they are being offered with cheaper spreads, better tools and decision making, support while opening larger accounts, and better conditions. They are also looking for a better security and a platform that is being regulated.