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AvaTrade Review UK 2024

Tobi Opeyemi Amure
Reviewed by:
AvaTrade review UK

AvaTrade is a smaller trading platform that has gone under the radar in the UK for the past few years.

However, with an ever-rising client base, and stellar reviews, you may be tempted to make the switch over to the platform. 

In this AvaTrade review, I’ll show you my experience with the AvaTrade platform, detailing everything from the onboarding process to the customer support, so you can decide whether this platform is right for you.

Throughout this review, I’ll analyse the platform’s core features, rating them on a qualitative points-based scale. These points then translate into star ratings. For more information on how we test view here.

This article was reviewed by Tobi Opeyemi Amure, a trading expert and writer at InvestopediaInvesting.com, and Trading.biz.

Overall Rating – 4.5 stars

Overall, I give AvaTrade a rating of 4.5 stars, based on an overall score of 72.7 and an average of 80.78%.

Avatrade has excellent research tools, great educational content, and pretty low fees. 

However, the terrible range of markets subtracts from an otherwise excellent user experience, making for a platform that is largely unusable for the majority of traders. 

CategoryPointsStar ratings
Fees7.9
Safety7.8
Onboarding9.5
Deposit & withdrawal methods8.34.5 
Markets3.82.5 
Tools9.65
Investment & trading platform7.84
Education9.45
Customer service8.64.5

Here’s a quick overview of the pros and cons of AvaTrade:

Pros

  • Simple fee structure
  • Excellent educational content
  • An extensive array of research tools

Cons

  • Terrible selection of markets
  • The trading platform lacks customisation
  • Not regulated by the FCA

Fees – 4 stars

AvaTrade’s fee structure is simple, easy to understand, and for the most part, competitive. However, a high inactivity fee does bring things down a notch.

Trading Fees

AvaTrade’s trading fees are nothing special, but they’re also not terrible either. 

The spreads for CFD trades, for instance, are very similar to direct competition like Admiral Markets. For context, if you traded $2,000 worth of Apple CFDs, you would incur a charge of $1.20. Plus500, on the other hand, would charge you over $7.

Forex fees do tend to be a little higher than competition, with slightly higher spreads. However, you can calculate all of your fees easily with the integrated Forex Calculator.

Plus, AvaTrade doesn’t charge any commissions, which plenty of competitors tend to do, especially on Forex trades. 

Non-Trading Fees

On the plus side, AvaTrade does not charge users any kind of account maintenance/usage fee.

On top of this, both deposits and withdrawals are completely free to make, so whatever you choose to put in will be the amount you can trade with. And when it comes to realising your gains, you’ll be left with 100% of the profit you’ve made.

However, things start to take a turn for the worse when you consider the account inactivity fee. Should you fail to use your AvaTrade account for three consecutive months, you’ll be charged £50!

Further, if you’re inactive for 12 months, you’ll be charged an extra £100. 

If you’re going to use your account as intended, then this fee probably won’t even cross your mind. However, compared to competitors like eToro, the inactivity is far higher than it needs to be. 

Pros

  • Competitive trading fees
  • Free deposits and withdrawals

Cons

  • Forex fees could be lower
  • Inactivity fee is ridiculous

Safety – 4 stars

For the most part, AvaTrade is an extremely safe platform, and you can rest assured that the company will handle your money honestly and safely.

However, a few factors hold AvaTrade back from being the safest trading platform in the UK. 

Good Signs

AvaTrade is regarded as a very safe platform internationally, being regulated by 4 Tier-1 regulators, and 3 Tier-2 regulators worldwide. 

When trading with AvaTrade, you will also benefit from negative bank balance protection. This means that you can only ever lose the positive value of your account, and you will therefore never owe the company any money.

This is an excellent guarantee of risk management and a key factor in deciding the trustworthiness of a company. 

AvaTrade also holds several safety accolades. It was, for instance, voted the most reliable trading platform in the UK by the World Business Stars Magazine in 2023. 

What to Look Out For

However, there are a couple of factors that take away from AvaTrade’s overall trustworthiness.

For one, the company is not regulated by the Financial Conduct Authority in the UK. The vast majority of AvaTrade’s competitors, on the other hand, have been regulated by this authority for years.

AvaTrade also isn’t publicly traded, so its financial records are not publicly available. 

Finally, the company does not hold a banking licence. Though, virtually no trading company does these days so this isn’t a massive issue.

So, on the whole, AvaTrade is a very safe platform, and you will likely never run into any safety issues when trading on this platform.

However, if safety is your number one concern, a platform like Trading 212, or IG may be better suited for you.

Pros

  • Negative balance protection
  • Regulated by renowned regulators overseas

Cons

  • Not regulated by the FCA
  • Financial records aren’t publicly available
  • Does not hold a banking licence

Onboarding – 5 stars

Setting up an account with AvaTrade is an extremely simple process, and creating an account with the company made me wish that other trading platforms would follow the same format. 

Signing up to AvaTrade.

Account Types

Before opening your AvaTrade account, you’ll need to choose which type of account you’d like to set up. There are a few different options to go for, such as an Options account or a Spread Betting account.

However, the standard account will suit most people the best, so I went with this one.

It’s worth noting that AvaTrade also offers certain clients a professional trading account, which comes with the benefit of higher leverage. However, to qualify for this account, you need a portfolio worth at least €500,000.

Account Opening

After choosing my account type, I had to plug in some basic information such as my date of birth, email, etc. I was also prompted to fill out a form detailing my financial status, and a short quiz testing my financial knowledge.

The only other step was verification, which required two documents to verify both identity and proof of address. All of the normal verification documents were accepted, and uploading them was very straightforward.

After my account was verified, the last step was to connect my bank and deposit £100. After this, I was officially up and running!

What blew me away with this process was just how quickly everything was verified. My account was verified within a few minutes of me uploading the documents, which meant I could start trading the very same day that I opened my account.

Competitors like Interactive Brokers just cannot say the same.

Pros

  • Extremely quick and easy
  • No hidden steps

Cons

  • The minimum deposit is higher than some competitors

Deposit and Withdrawal Methods – 4.5 stars

AvaTrade’s deposit and withdrawal methods are easy to use, versatile, and importantly, free.

The only downside is that withdrawals can take several days to complete.

Deposit and withdrawal methods on AvaTrade.

Deposit Methods

Depositing money into your AvaTrade account couldn’t be easier. Virtually every payment method you could think of is accepted, including PayPal, and as long as you deposit a minimum of £100 each time, you can deposit until your heart’s content completely for free. 

The first transaction that you make may take a day or two to complete, as AvaTrade verifies each new card transaction. However, after using your card for the first time, deposits will become much quicker. 

Your base currency is automatically selected as the standard currency of your place of residency, but this can be changed to circumvent the conversion fee.

However, as of the time of writing, only 7 base currencies are offered to UK users, which is much lower than competitors such as Plus500.

Withdrawal Methods

Withdrawals are similarly easy to make and are also completely free. The only real caveat is that you can only withdraw to the same method that you deposited the funds with. However, this shouldn’t be an issue for most users.

I also noticed that withdrawals took several business days to enter my account, which is much slower than the vast majority of competitors. 

Pros

  • Deposits and withdrawals are free to make
  • Plenty of methods available

Cons

  • Withdrawals take a while
  • A low number of base currencies

Markets – 2.5 stars

AvaTrade’s selection of markets is what lets the platform down. Only CFD and Forex trading are offered, thereby leaving out some of the most popular trading asset classes.

AvaTrade markets.

CFDs

AvaTrade offers users a selection of 744 CFDs to trade, ranging from ETFs to Cryptos. 

This selection is pretty good. However, it’s also nothing mind-blowing and you will get exposure to the same CFDs through other platforms.

Many platforms like Admiral Markets offer thousands more options. 

Forex 

The other market offered on AvaTrade is Forex. There are a total of 55 currency pairs to trade with. This is overall a pretty good offering, and you’ll be able to trade with the most popular pairs as well as slightly riskier, more niche options. 

Other Markets 

No other asset classes are offered on AvaTrade, meaning that you won’t be able to trade stocks, ETFs, crypto, or bonds through the platform. This wouldn’t be a massive problem if the offering of CFDs and Forex was higher than competitors.

However, there are several other platforms like Interactive Brokers, which offer more CFD options than AvaTrade, as well as other asset classes like stocks and shares.

Therefore, if you’re looking to diversify and reduce risk, AvaTrade is probably one of the worst UK platforms to go for.

Pros

  • Decent selection of CFDs

Cons

  • An extremely limited selection of assets
  • CFD and forex trading aren’t any better than competitors

Tools – 5 stars

AvaTrade’s research tools are simply flawless and contain everything you need to research an asset.

Trading Ideas

For instance, AvaTrade offers trading ideas through the ‘Trading Central’ tab. These ideas are based on sound technical analysis, and are particularly accurate, particularly for Forex.

News Feed

You’ll also be able to find a news feed through the Trading Central tab. This feed will keep you up to date on the latest news that may affect the markets and your trades.

What I found particularly useful about AvaTrade’s news feed is how you can filter the news down so that only news pieces that are relevant to your portfolio are displayed.

You can also use an AI-powered tool to gain insights into whether the social trends will cause an asset to rise or fall.

While not completely bulletproof, this is a great way to start research into whether you should hold or sell a particular asset. 

Charting Tools

AvaTrade’s range of charting tools is extensive. There are 90 different technical indicators to use in total, and charts can be edited easily whenever you need to. You can also save edited charts for future reference. 

Economic Calendar

Finally, AvaTrade offers a very useful economic calendar, which can help you keep up to date on major economic events that may affect your trades.

The calendar is particularly useful, thanks to a feature that allows you to analyse different trends in the market. 

AvaTrade economic calendar.

Within the economic calendar, you’ll also be able to find fundamental data on a variety of assets.

This data is key when deciding whether to hold an asset, and it’s great that AvaTrade made this data so easy to find. 

Pros

  • Tools are easy to use
  • All fundamental research tools are available

Cons

  • None

Investment and Trading Platform – 4 stars

As an investment and CFD trading platform, AvaTrade is very solid.

However, there are one or two missing features that could kick it up a notch.

Both a web and mobile app version are offered to UK users.

Web Trading Platform

The web trading platform was pretty easy to use. I could find everything quickly via the menu tabs, or search function, and everything felt that it was in the right place. 

AvaTrade web trading platform interface.

However, there were a few key features that I missed during my time on the web platform.

For one, there is no way to enable notifications, which is particularly annoying when trading something as volatile as Forex. 

The web platform also lacks customisability. It’s safe to say that there is no customisability at all, meaning you’re stuck with the original layout, whether you like it or not.

Mobile App

The mobile app is very similar to the web version, with a clean layout that’s easy to navigate.

The mobile version also comes with the added benefits of extensive price alerts, which are much more relevant than competitors.

However the mobile app suffers from the same customisability problem, and I felt that I couldn’t make the app ‘my own’.

The simple ability to change a few tabs around would have gone a long way. 

Making a Trade

Making a trade on AvaTrade is very straightforward.

You simply need to choose the asset you’d like to trade, the amount you’d like to trade with, and then hit confirm.

You can also place different order types, such as Stop, Market, and Limit, as well as time order limits like GTC and GTT.

Making a trade on AvaTrade.

Interestingly, users can also choose to hedge their market orders via something called AvaProtect.

When purchased, AvaTrade will cover any losses that you may have on a market order, for a determined amount of time.

It’s a great way to reduce risk on certain trades and something that I wish other platforms would integrate.

Trading Experience

Overall, I had a pretty good trading experience with AvaTrade.

Everything was easy to find, making trades was easy and the mobile platform was particularly good-looking.

The research tools were also some of the best I’ve ever used, which made finding new assets to trade an absolute breeze. 

I found the platform quick and easy enough for day trading, and if you are a day trader, AvaTrade could be perfectly suited for you. However, the lack of asset classes does take away from the overall usability for day trading. 

Another great feature is that AvaTrade offers automated trading opponents via platforms like DupliTrade. To access this feature, you will need to deposit at least £2,000.

Pros

  • The mobile app is great
  • Suited for day trading
  • DupliTrade supported

Cons

  • The web version isn’t as good as the mobile app
  • Customisability could be better

Education – 5 stars

AvaTrade’s educational content is nothing short of flawless.

Whether you’ve never made a trade in your life, or have been in the game for years, you’re bound to learn something from the material that the platform has to offer.

Plus with the excellent demo account, you’ll be able to put your knowledge to the test without risking a single penny.

AvaTrade educational content.

Learning Center

The heart of AvaTrade’s educational content is its ‘Learning Center’ page. This platform features over 100 articles covering everything you would ever need to know about trading, from basic jargon to more advanced day trading methods. 

If you’re not into written content, you’ll be pleased to hear are also 48 videos that explore everything you can do on the platform, as well as niche trading advice. 

The AvaTrade team further records webinars and courses frequently for even more advanced learning. And luckily, if you ever miss a webinar live, you’ll be able to watch it back as the team reuploads all live events to their YouTube channel. 

The only flaw that I found with AvaTrade’s educational content is that, on the mobile platforms, the videos were slightly harder to find, and felt more like a second thought than a core part of the platform.

However, this small annoyance withstanding, it’s hard to fault the education that AvaTrade provides. 

Demo Account

AvaTrade also offers users a free demo trading account. This not only helps you to get a feel for the AvaTrade platform but also helps you put the lessons taught through AvaTrade’s education section into practice. 

The demo account lets you trade with $100000 of virtual money and is more or less the same platform as the real thing, only without the risk of putting up your own money.

It’s a great place to practice new strategies or dip your toes into the trading world for the first time. Out of all the demo accounts that I’ve tried in the past, this was easily one of the most complete.

Pros

  • A wealth of educational content
  • The demo account is awesome

Cons

  • The mobile platform’s content isn’t quite as accessible

Customer Service – 4.5 stars

On the whole, I found AvaTrade’s customer service to be excellent.

Live chat, email support, and phone support are all offered and are generally much better than competitors.

AvaTrade customer support.

Phone Support

Normally, I hate phone support, especially when trading platforms are involved.

Oftentimes, the waiting time is so long that it’s easier to just solve the problem yourself than sit on hold with that awful elevator music blasting down your ear.

However, AvaTrade’s phone support was a completely different story. 

Within a few moments of dialing, I had connected to an assistant, and they were able to solve my query within a few moments. 

Some users have reported slightly longer wait times, and during peak trading hours, it may take you a few minutes to connect to an agent.

However, on the whole, I really couldn’t fault Avatrade’s customer support.

Email Support 

The email support service was also pleasantly surprising.

After sending an email in the morning, I got a reply back the same afternoon, and it was full of useful information that answered my question very quickly.

Live Chat

The most surprising aspect of AvaTrade’s customer support was the live chat.

In the past, I’ve been incredibly disappointed with the live chat function from otherwise excellent platforms such as Interactive Brokers.

However, AvaTrade’s live chat is nothing short of sublime. The wait times are virtually non-existent, the agents won’t stop until your problem is solved and there are plenty of languages available outside of English, meaning the service can be accessed by pretty much anyone. 

The only fault I have with this service is that it’s not available 24/7. However, this is a pretty minor problem, considering just how good my overall experience was.

Plus, the service is available 24 hours a day throughout the week, so you’ll only ever miss this service on the weekends. 

Pros

  • Live chat, email, and phone support are available
  • Quick response times
  • The customer support team provides excellent answers

Cons

  • Support isn’t available 24/7

Final Thoughts

Ultimately, AvaTrade is a platform that has mountains of potential.

The onboarding is flawless, the education is excellent and the research tools available are some of the best I’ve used.

However, the platform is let down at a fundamental level by the sheer lack of markets and assets offered.

If this was improved, AvaTrade could easily become one of the best trading platforms in the UK.

However, right now, it’s simply not quite as good as the top competition. 

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Will Fenton is the founder of Sterling Savvy. He is a personal finance expert and writes about trading, investing, budgeting, and other financial topics.

Along with his education in Economics & Finance, he has experience working in the financial services industry in London working for one of the UK’s leading financial companies, “a trustworthy and respected provider of news, education and market analysis for the everyday investor”.

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