Best Binary Options Broker!
Perfect For Beginners!
Free Trading Education!
Free Demo Account!
Good Choice For Experienced Traders!
FxMarket247 Review – is fxmarket247.com scam or good binary options broker?
Basic Information & Account Types
|Account type||Minimum deposit||Payout||Money return %|
|Basic||$300||Up to 82%||2-10%|
|Advance||$2 500||Up to 82%||10-30%|
|Diamond||$50 000||Up to 82%||30-70%|
FxMarket247 claims to offer trading in cryptocurrencies, one of the hottest assets on financial markets. In fact, the broker provides mining services and binary options trading, but its offer is very unclear. Overall, we would not reccomend this broker. Read on to understand why.
Not any significant.
Questionable corporate information, not regulated
FxMarket247 is allegedly owned and operated by NEWSTAR L.P., a company that claims to be headquartered in Glasgow, Scotland, UK. It also seems to operate Hashing24 a cloud mining contract provider, which, judging by the numerous negative user reviews and complaints in some popular Bitcoin forums, is a scam.
That being said, NEWSTAR L.P. is registered in the UK, but not regulated by any financial authority. As you probably know, ESMA has prohibited binary options trading (as of July 2, 2020), and keeps extending the ban. As a result, there have remained no reliable regulators in the binary options industry. Previously, most regulated binary options brokers were holding licenses from the Cyprus Securities and Exchange Commission (CySEC). Furthermore, the UK’s Financial Conduct Authority has even proposed permanent ban on binary options in the country, in order to enhance consumer protection.
The fact that FxMarket247 lacks any regulatory oversight is very alarming. The forex and binary options market is full of scammers and most of them are either unregulated, or “licensed” by some offshore agency.
Trading conditions not disclosed
The only trading specifics announced on FxMarket247’s website are the minimum investment the broker requires and some percentages of the returns it promises. The company has not specified the payouts, nor the minimum bet size, which is yet another worrisome sign, typical for con-artists.
That being said, remember that there is no such thing as guaranteed investment returns in the world of trading.
Best Binary Options Broker!
Perfect For Beginners!
Free Trading Education!
Free Demo Account!
Good Choice For Experienced Traders!
Trading platform with no charting, a few financial products offered
We tested FxMarket247’s web-trading interface and found out that the broker’s portfolio is limited to Gold, Silver, EUR, USD, BTC, Apple in various pairings. One cannot trade in forex pairs other than the EUR/USD, nor popular instruments such as CFDs on indices, commodities, other stocks, etc. On top of that, the platform itself is actually one of the worst we have seen – it lacks any analytical tools, and has no charting whatsoever. Here is a preview:
FxMarket247’s web-trading interface. Click to zoom in.
In case you are into cryptocurrencies like Bitcoin, below you may find some well-regulated brokers that offer BTC trading in the form of CFDs. Some of them have also included other cryptocurrencies to their offering.
According to the broker’s terms and conditions, clients of FxMarket247 are subjected to maintenance and service fees, the amounts of which are not specified.
As you can see from the stated above, FxMarket247 has nothing that tempting to offer. Its website is not very informative, nor well designed, and it turned out that the broker offers some mining services and binary options trading on several assets. Yet, the trading interface is one of the worst we have seen – it even doesn’t have any charting whatsoever.
Nonetheless, the most serious concern regarding FxMarket247 is that it is not regulated, and could be involved in scam. In order to avoid becoming a victim of investment fraud, make sure you only deal with brokers duly licensed by a reputable governmental agency, which provides certain guarantees for your investment. One of the most popular such institutions are UK’s FCA and Australia’s ASIC.
To sum up our impression of FxMarket247 in a few final words:
|Not any significant advantages||Questionable corporate information, not regulated|
|Trading conditions not disclosed|
|Trading platform with no charting, a few financial products offered|
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
Traders` reviews for FxMarket247
Scammers – I lost $2000
Fxoption247.com is scammers they have this site which is very uninteractive. But they tell you to sign up and then you will start to pay and only you because the profit that they tell you you made you will never get it. They sound really convincing and can even show you the bitcoin but you will have to pay for everything and then they will get you to pay for even more stuff and tell you but that will be the last payment before you get your profits and what do you know you have to pay again. I lost 2000 dollars on these guys and I am trying to expose them for the scammers they are so don’t use there services and don’t trust them. I am trying to get my money back but just don’t know if it will work
Are Cryptocurrencies A Scam?
Trading cryptocurrencies as a source of income is experiencing a boom in popularity today. Since appearing on the Internet, digital currencies have created a chain reaction. Literally anyone can realize their fantastic potential. Almost the entire world, including most governments, is concerned about the uncontrolled growth of the popularity of crypto assets. Well, you already know what crypto assets are and how to earn them, but you’d like to learn the whole truth about them.
How do cryptocurrencies work?
In order to find out whether they’re another scam or not, one should realize the basic principle of crypto currencies as assets.
The basis for the functioning of the digital currency system is the technology of the blockchain. This is a way of storing information without placing it in one particular place, when the data is distributed among all participants of the system (on computers all over the world), automatically updated and available at any time to any user. It’s a continuous successive chain of information blocks, which is normally stored and processed independently on many computers (Wikipedia).
Such a complex network is distributed among all participants, and all computers that produce coins become participants in the system. There is no main center to which everything is subordinated. Digital currencies are redistributed across the network, between market participants. This allows you to pass banks, exclude the influence of the state, and avoid commissions for transfers and other expenses and difficulties. Users get full freedom of action with cryptocurrencies, they have no obligations to the network, and their money can’t be frozen, so you can do anything with cryptocurrencies and whenever you wish.
The anonymity of such assets allows you to create a large number of bitcoin-addresses without reference to any information. If the user intentionally does not specify his data, then no one will ever know that a specific bitcoin address belongs to him. For anonymity, one bit-address is usually used for one transaction. Due to the transparency of operations, the history of all transactions is stored in the system. These transactions can’t be canceled. Getting money back is impossible as well. This can only be done by the recipient.
The issuing of coins depends on the work of millions of computers using a program for calculating mathematical algorithms; this issuing only takes place in digital form, and anyone can issue this asset. Having appeared not so long ago, cryptocurrencies are currently a real free money, devoid of the complexities and limitations inherent in standard money. This type of money has become an antagonist of a centralized system where everything is dictated by the state and the economy, but not always by the interests of citizens.
Advantages of earning with cryptocurrencies
Disadvantages of cryptocurrencies
Myths about cryptocurrencies
The growing popularity of digital currencies has led not only to the great involvement of Internet users in this market, but also to the fact that today there are a lot of myths about digital coins that mislead users. Let’s talk about these myths.
Myth 1. Cryptocurrencies are another financial pyramid scheme
This is one common myth among those who do not understand the very essence of digital currencies. Do you really consider cryptocurrencies to be a pyramid scheme? It’s worth starting with how the pyramid scheme is structured. It implies the investment of funds for the purpose of profit. The benefit for honorable «old» investors is ensured by attracting new members to the system. However, having attracted new participants to the system, the pyramid usually experiences difficulties. It closes, all money is frozen, and it can’t be used for some time or even forever. The principle of crypto assets is completely different from the pyramid. No one freezes money; funds are available to the trader at the crypto exchange at any time. For the transfer of funds, as well as for inviting new participants into the system, there aren’t any bonuses. As follows from this, digital currencies can’t be a pyramid scheme.
Myth 2. Cryptocurrencies are required for black markets
Of course, some cryptocurrencies became popular after participating in illegal trade and dirty schemes. However, today, cryptocurrencies, and Bitcoin in particular, can be considered an active part of our offline life. With the help of digital assets, you can buy a car, an apartment, a yacht. You can also use them to pay in restaurants and cafes. As follows from this, cryptocurrencies aren’t meant for black markets.
Myth 3. Cryptocurrencies are another bubble
This is a very common myth found on the web. However, using the concept of «bubble» in relation to digital currencies, folks often forget what is included in this idea. A bubble refers to assets that have any value, and which, thanks to the news background, rise in value. Can we say this about crypto assets? The growth in the price of cryptocurrencies is affected only by demand: the higher it is, the higher the cost will be. So, we can conclude that cryptocurrencies can’t be a bubble.
Myth 4. Cryptocurrencies aren’t backed by true assets
As we know, since 1971 the gold standard has been canceled; now all of the world’s currencies are not backed by anything of real value (if only by their GDP). In this regard, digital currencies don’t differ from conventional ones. They aren’t backed just like traditional currencies.
We repeat once again – it’s not a scam!
The Internet has enough materials claiming that digital currencies are a pure scam. Is it true? Let’s make this clear. First, for mining virtual assets, one has to bear serious costs: to purchase and update professional equipment, to pay for electricity and maintenance of the servers. Usually scammers aren’t aware of all pitfalls and peculiarities of advanced technology. They’re reluctant to waste time developing innovative services and supporting a team of top specialists. Their primary goal is to collect money and run away.
Secondly, there’s buzz about cryptocurrencies in all popular media and on the Internet now. In Japan, Bitcoin was recognized as the official currency of the country (since April 1 of this year). So all developed countries have to think about this and adapt their laws accordingly. The Russian government keeps considering developing their own cryptocurrency, while the president of Kazakhstan proposed to join forces to create such a global digital currency that would save the world from currency speculation. Apparently, society accepts digital currencies – or people at least have started recognizing the prospects for the development of digital money. If all of this were a scam, it would have been uncovered and cryptocurrencies would not have been able to spread so much and garner such great attention from the world community.
Thirdly, there are quite successful stories of traders on the web who have achieved high earnings via crypto trading. There are also negative reviews of traders, but without them one can’t imagine the functioning of any financial market (binary options trading or forex trading, for example). In the case of fraud, we would undoubtedly see a huge amount of negativity, such as complaints from traders about brokers as well as crypto exchanges.
Fourth, cryptocurrencies are actively shifting from the digital world to the real one. Digital money has successfully debuted offline, and today we have an excellent opportunity to observe it. Now you can pay with digital currencies in the USA, Russia, Japan, Europe (take advantage of the special interactive service coinmap.org to get a full list of countries where you can pay with Bitcoins). Digital currencies are accepted for payment on websites, in shops, restaurants, cafes, even as donations in the Temple of John the Theologian in the American city of Goshen.
In what cases can cryptocurrencies be a scam?
Cryptocurrencies have a mind-blowing dynamic that fraudsters are ready to use. They offer non-existent currencies, they do not give the opportunity to withdraw funds, cheat, and so on. We will tell you about typical examples of deception that are common in the crypto market:
Today users fall into the dirty hands of scammers, investing their money, seemingly, using a popular web resource they know. Victims see the design, texts, navigation, etc., that they recognize, but it turns out that the trader’s money got stolen and they are left with nothing. For example, it took place when the investor lost Bitcoins by working on a fake website disguised as a popular platform ShapeShift.io (continue to site).
Such fake websites often emulate reputable ones, including BitStamp image, Blockchain.info, and so on. By creating an exact copy of a popular web resource, scammers can do more than just take money from inattentive users – they also steal their passwords. Therefore, it is worth checking whether the name of the website you are working with is correctly written in the address bar of your browser.
On the Internet people often get messages from individuals who are ready to sell Bitcoins or accept payment in cryptocurrencies. There’s a high probability that this is a fraudster who will disappear as soon as you transfer money to him. Such scammers are real psychologists who are able to gain the trust of their victims. They’re even capable of hiding behind famous personalities in the Bitcoin community. They can send you fake documents, etc.
Another wide spread fraudulent scheme involves advertising for scam resources, which uses links to phishing (Wikipedia) or fake websites. They promise attractive bonuses and a 400% return on investment and announce allegedly recommended sellers who are willing to sell you a digital currency that does not really exist (here, they offer non-existent positive customer testimonials, values below market prices, and so on). Additionally, you can come across announcements for the sale of non-existent equipment for mining. In order not to fall into the hands of a scammer, you should study current scam lists, the identity of the seller, suspicious websites, and email addresses. Too profitable proposals, too many good promises (for example, triple benefits) – these are the things that should alert you.
Scammers associated with pyramids are excellent psychologists who are ready to promise you the maximum benefit. Oftentimes, pyramids hide under a beautiful site that promises a high profit (for example, 200-400% per annum). Additionally, if you always come across folks who are trying to lure you to such resources, they’re certainly a pyramid scheme. There are many options for pyramids on the Internet, but more often they offer income for storing cryptocurrencies (sometimes your money is frozen for a certain period of time), for using services for mining. To avoid problems with pyramids, approach with great caution each tempting offer.
Phishing websites and links
In order to take money from traders, scammers create malicious websites. Very often the externally familiar site turns out to be fraudulent. When the victim visits it, she or he ends up losing personal data, passwords, and what’s more, money. In order to not lose your data to phishing attacks, carefully look at the name of the web resource in the address bar of the browser, see if the connection is protected by the SSL-certificate, and click on the links of only verified users.
Deceptive schemes in applications and plug-ins
Currently, fraud can be found in applications and plug-ins. For example, it happened to the Localbitcoin application, which was available in the Android application store.
Fraud also occurred with an add-on for the Chrome browser, BitcoinWisdom Ads Remover, which sent funds to the fraudster’s wallet. How can you avoid such problems? You shouldn’t blindly believe the high ratings and a lot of positive feedback about a particular application. Before installing the program, contact the developer and find out if he or she is the author of the application. Look the information up on the Internet; maybe someone has already worked with it.
How to make money on cryptocurrencies: what should I remember?
Crypto trading is not merely buying cheaper and selling more expensive. It’s far more complicated and you should keep this in mind:
1. The cryptocurrency market not only is growing rapidly, but also is very volatile. After rapid growth their rate can suddenly fall, often leading to panic.
2. Large speculators operate in the crypto market, causing artificial leaps or drops in the value of digital coins.
3. Do not forget about politics. In May of this year, the popularity of Bitcoin grew due to political scandals in the US. Additionally, digital currency gained attention during the period of early parliamentary elections in Great Britain.
4. Apart from high potential profitability, crypto trading also suggests huge risks, so you should be very careful.
5. Only thorough analysis of the popularity of the cryptocurrency, its prospects, and the factors that influence the dynamics of the value will help you to earn decently.
To earn a decent income on cryptocurrencies and avoid losses, it is worth remembering these facts.
Do cryptocurrencies have prospects?
Of course, like others you also want to be aware of the future of crypto assets. When will this bubble finally burst? The collapse of digital currencies has been predicted several times. Such assets were often labeled as a pyramid scheme. The media urged the Internet community to forget about them, and developers to engage in more promising projects. Nevertheless, crypto assets managed to withstand all of the tests and today they continue to do amazingly well with volatility and high growth. The buzz continues along with endless disputes as to whether we need digital currencies and what will happen if we are officially allowed to use it.
Showing up on the Internet, crypto assets started actively moving into the real world. Everybody is eager to learn what will happen to them next. Some folks consider digital coins to be the future of the world’s financial system. Others argue that it’s another bubble. However, as always reality is somewhere in the middle. Some are assured that both cryptocurrencies and the blockchain technology that powers those solutions deserve attention, while others are confident that cryptocurrencies are going to become a reality when the development of technologies reaches critical levels. It might be a sort of compromise: some cryptocurrencies will disappear, while others will get along with the world system. For example, Bitcoin (continue to site) and Ethereum (continue to site) are capable of replacing world currencies.
Perhaps, cryptocurrencies as supranational money, which the world’s states can’t regulate, could be a nice solution for all, facilitating work with transfers and payments. However, it is worth considering all that is happening, because today we are all moving to the digital world and understand its advantages. Therefore, cryptocurrencies, as an integral part of the virtual world, are simply necessary for the convenience of calculations.
Today, a number of countries consider crypto assets to be promising. These are Australia, New Zealand, Germany, and Singapore. On the other hand, there are countries that have banned the use of digital currencies: Bolivia and Ecuador. Russian legislation bodies should prepare a draft document, in which much will be clarified regarding cryptocurrencies in this country.
Summarizing the value of all that is mentioned above, we can say that the future of cryptocurrencies is quite promising, and today we observe a number of trends that suggest cryptocurrency has a future. Here we can point out the ongoing discussion of the legalization of cryptocurrencies in the world, including Russia, its active exit from the online zone to offline, the constant growth of those interested in buying cryptocurrencies, etc. Like other technologies, cryptocurrencies are forced to develop through the problems and critical moods in society. However, despite the fact that some people do not trust cryptocurrencies, and others see the future in it, today the value of digital currencies is taking off and investors are investing heavily in the development of this industry. Of course, cryptocurrencies aren’t perfect and blockchain needs improvement, but it’s impossible to say «no» to digital currencies, as that would be naive and short-sighted.
Are crypto brokers fraudsters?
An important stage in the development of cryptocurrencies is the emergence of brokers, dealing with such specific assets. They make it possible to earn money by trading in digital coins. Today, crypto trading is offered by Forex brokers and brokers of binary options. As a rule, these are well-known companies: (Alpari (continue to site), Grand Capital (continue to site), 24option (continue to site), InstaForex (continue to site), HYCM (continue to site), Forex Club (continue to site), etc. Exploiting the constantly growing popularity of digital currencies, they offer them as assets.
Can these companies be considered fraudsters? In fact, you should know that trading is impossible without scammers and it will always be. Remember that fraudulent companies are created to deceive traders. It’s important for such scammers to get your money and escape with it. The fast-growing and incredibly dynamic crypto market also attracts scammers who are ready to do anything for the sake of deception. Your task in this situation is to identify a reliable company and work with it, without fear of entrusting your personal capital to them.
How to choose a trustworthy crypto broker?
It’s quite possible to find a reliable broker of crypto assets. The main thing is not to rush into the choice and not rush at the tempting offers of companies. In this part of the article we will tell you how to choose a reliable broker of cryptocurrencies:
1. You need to study the license of the broker (forex brokers, brokers of binary options). Licenses are provided on official websites by all serious brokers.
2. You need to study the reputation of the crypto broker, its work experience, and activity of the position. This information is available on the websites of those companies.
3. You should study the opinions of various traders about trading in this particular digital asset.
4. Try trading on the demo account of the broker. A demo account is not a useless online toy; it is an important tool of the trader, which helps to understand how serious the broker’s intentions are, whether the terminal works properly or not, and whether the service is of high quality, etc.
5. Learn the bonuses of brokers, including bonuses on a demo account. The matter is that bonuses are also one of the important tools of the trader, which will help to determine how honest the broker is with you. First, study the conditions of working with the bonuses, the possibility of withdrawing funds, and the conditions for working out the bonus. Next, you can start trading the bonus and try to withdraw funds.
6. Try real trading with a broker by transferring to the account the minimum possible deposit.
It’s worth doing such a serious job to be sure of the real intentions of the broker. However, things often go wrong. A naive trader chooses the most advantageous offer from a broker to work without worrying about the fact that a scammer can hide behind beautiful words and high profitability. We recommend to more seriously approach choosing crypto brokers if you want to save your nerves and money.
The whole truth about cryptocurrencies
The whole truth about cryptocurrency is that it is one of the most popular and fast-growing markets with high volatility and decent incomes. You can count on a decent profitability from this market, but it’s up to you to properly understand how to make money on these assets. You need to be able to make informed decisions, using all trading terminal tools (charts, terminals, indicators, robots for automatic trading, orders, etc.), monitoring the growth dynamics of digital currencies.
Leverage: 1:30 | 1:400
Regulation: Bank of Ireland, ASIC, JFSA, FSCA
Min. Deposit: 100 US$
HQ: Dublin, Ireland
Platforms: MT4, AvatradeGo
Found in: 2006
Top 3 Forex Brokers
FP Markets Review
What is AvaTrade?
AvaTrade is one of the leading, globally presented broker with over than 200,000 trusting clients worldwide. A regulated on 5 continents forex broker that providing customers with sophisticated trading solutions, regardless of user knowledge or experience, by bringing the possibility to enter the market trade through numerous, adaptable platforms, tools and options.
Ava also is a multi-national company, which headquarters in Dublin, Ireland but operating regional offices. These including entities in Paris, Dublin, Milan, Madrid, Tokyo, Beijing and Sydney, as well in South Africa, Chile, Mongolia, Nigeria and newly established UAE brokerage.
Within a few short years since its launch in 2006, AvaTrade has expanded enormously, while Ava global customers executing more than two million trades a month on over 250 instruments.
It’s not a wonder that Ava has earned numerous industry awards since over 10 years of successful activity, in addition to wide support programs launched by Ava. Apart from them, AvaTrade (previously known as Ava FX) was rewarded for its excellent service and the trading technology that confirm brokers’ strong and reputable position in the industry, which we will see why it is like that further in out AvaTrade Review.
Is AvaTrade safe or a scam?
As a multi-presented company, Ava follows strict rules of the Client Asset Regulations and procedures, which are obtained from the main parent company license issued by the Bank of Ireland and other regulations. In simple words its means the broker is constantly overseen and its trading solutions are aligned to safety measures or controlled at any stage.
Is AvaTrade legit?
Yes, AvaTrade is a fully legit and regulated broker in each jurisdiction, as hold necessary licenses and regulatory obligations apart from its main establishment standards regulated by Ireland. This information you may check from the official AvaTrade website, as well as through the authority website. Also, you may find the links of the licenses provided in AvaTrade Review and definitely should always verify for its true state.
Is AvaTrade regulated and by whom?
There are numerous entities Ava respectfully established apart from being regulated by the Central Bank of Ireland. Which also includes authorization from the world famous regulatory bodies ASIC (Australia), FSP (South Africa), FSA (Japan), Abu Dhabi authority, ESMA in European Union, British Virgin Islands and more.
Therefore, AvaTrade is heavily regulated and obliges with internationally recognized laws that keep brokers’ reliability at a certain level of trust and considered to be a safe broker to trade with.
How are you protected?
The set of regulation requirements enables protection to the clients and including – funds segregation, means all client funds are held separately from the firm funds with international banks under encryption. Security of the traders accounts with Investor Protection amount and Compensation Schemes in case the broker goes bankrupt, which is slightly different in each jurisdiction.
As well as fully audited trading procedures that are strictly checked by the authority on a daily basis in addition to negative balance protection.
Leverage is a quite known instrument, which obviously increases the initial capital you trading with and can be a very useful tool to magnify your potential gains, but in case you use it smartly. However, always note that higher leverage can work in reverse too.
The risk level is defined by several factors, and of course, leverage dramatically increases your risks to lose money as well.
AvaTrade as a regulated broker complies to slightly different trading conditions or regulatory obligations according to the set of rules established by the particular authority. This means that European traders or those clients that are registered with AvaTrade European entity will fall under ESMA regulation that recently limited Leverage.
Another important note in AvaTrade Review which applicable, once we are sure broker is a reliable one, is to define what account types are available. Also, further we will see the full details on trading costs, platforms and other data that will follow.
Do all countries accept AvaTrade?
There are numerous countries around the world the resident of which may open an account with AvaTrade. However, there are some restrictions applied, mainly due to regulation in a particular country and specified laws in the country or another. These restricted countries include the US, Iran, Israel and a few more, but generally, Ava accepts almost all countries.
Types of Accounts
AvaTrade does not diversify clients by the choice of account types but offers a single Standard account, just further, defining specified conditions for Corporate account or Islamic Account. Also you may open Demo account at the beginning to test brokers’ environment.
Accounts Swap free available for traders following Muslim belief or the ones who wish to trade markets according to Sharia principles, which is definitely a great option for world traders.
In addition, if you’re a professional trader with relevant experience and proof of that, you may be entitled to a Professional account where additional benefits are offered.
But first of all, you should proceed with the account opening and these are the steps to do so.
A Step by Step guide on how to open an account
|1. Select and Click on AvaTrade Sign In page. You may also sign with an existing account on Facebook or Google.
2. Enter the required personal data (Name, email, etc.)
3. Verify your personal data. The broker may ask a residential proof, utility bill, etc.
4. Complete the electronic quiz to confirm your selection of an account and your experience
5. If applicable request Islamic account opening
6. Once your account is activated and proved, follow with the money deposit. See further paragraphs in our Review on how to do it.
So what you can trade in AvaTrade? Markets presented at Ava offering you over 250 instruments ranging from FX pairs to Vanilla options, CFDs on Commodities, Stocks, Indices, ETFs, Bonds and Cryptocurrencies.
Does AvaTrade have Nasdaq?
So yes, AvaTrade has Nasdaq in its trading list as well, eventually Ava offers truly great range so you will surely find a suitable portfolio for yourself.
AvaTrade offering to work on the pairs with Bitcoin trading, Ethereum, Ripple, Dash, Litecoin, Monero, NEO, IOTA, Zcash, Qtum and more. Cryptocurrency trade supported by both MT4 Platform or AvaTradeGO, and can be used with quite competitive spreads, no commission charges, leverage up to 20:1 and ability to start trading with as little as $100.
All trading transactions performed on AvaTrade platforms are subject to the trading charges that are consisting of Spreads and Overnight fees.
Generally, AvaTrade spreads are average fees or even low spreads comparing to similar proposals and broker’s competitors. Also, while selecting the broker you should check not only spread but also consider non-trading fees, withdrawal fee or other charges which applicable so that you will see the full picture.
|• Average trading fees
• 0$ Withdrawal fee
|• Inactivity fee – 50$
• Administration fee for non-use account
Here is snapshot of AvaTrade fees
Also, see below the comparison table with a typical AvaTrade Spread and compare brokers to other CFD Brokers with CFD fees, commission or inactivity fee if applicable. However, always note fees are presented as an indication only and may widen to volatile conditions, especially Cryptocurrency spreads that depend on current market conditions.
Trading Fees of AvaTrade vs Similar Brokers
However, total fees are always defined by several points, which are consistent with the CFD spread as the main fee, commissions if applicable, conversion fees while you hold account in different base currency. And lastly inactivity or non trading fee. AvaTrade charges no commissions, as all fees are built into a spread, alike typical USD EUR 1.3 pips which is a difference between bid and ask price.
CFD trading at AvaTrade gives you the opportunity to trade Commodities, Bonds, ETFs, Indices and Stocks. Generally, AvaTrade CFD fees are average level, yet Index CFD offered at a very competitive level as example Europe 50 CFD is 0.6$.
Forex fees are remaining also at the average level, while major currency pair offer pleasant cost wise, along with over great opportunities to invest AvaTrade offers. Also, Forex and CFD assets spread might be calculated in a slightly different way, since spreads may vary according to country rules, yet all remain clear and transparent with AvaTrade.
Also, always consider Overnight fee or interest rate is a fee which should be paid in case the trading position is opened longer than a day, or overnight. In this case, you should calculate a small percentage that will be added above, yet, also subject to change on a particular instrument, hence may cause you even to gain on rollover.
How to use the AvaTrade Forex calculator
So in order to manage your risk or not let you confused about charges, while trading you may also use great tool AvaTrade provide. Which is Forex Calculator that allows to consider and see all costs, losses or profits. Here are the steps on how to use Calculator.
Non trading fees
Lastly, there is an inactivity fee that is charged if you didn’t show any activity or open trades for a period of 3 month. In this case you will be charged 50$ per quarter. Moreover, the broker sets a fee for administration of 100$ in case you didn’t use the account for 12 consecutive months, so you better keep an eye over your account.
Deposits and Withdrawals
Being able to access your funds, fund your account with an initial deposit through a bank account with no complication is another core of the options trading. And while choosing a broker you should consider that point too, so here there are also good options offered by AvaTrade.
AvaTrade offering a truly wide selection of platforms and tools, it is not an overstate that each client will find his suitable way. So let us take a closer look at a range of AvaTrade platforms while all of them available through Web, Desktop or Mobile Apps tailored to iOS or Android devices.
Scores & Availability of different platforms
• A choice between Web, Mobile and Desktop
• MetaTrader4 and MetaTrader5 offered
• Specialized software for social, automated and algorithmic trading included into proposal
• AvaOption for Options trading
• Web and Mobile App AvatrageGO for iOS and Android
• Easy to navigate and simple to use software
• Support of different languages
Web Trading Platform
As part of its commitment to empower traders, Ava caters to every type or level while each of its platforms provides an option to trade manually or automatically on a variety of financial instruments. Also, UK clients may request spread betting opportunities.
WebTrader as a innovative platform is a great option for beginning traders, as it features an intuitive interface and great design simple to use or understand.
|• Proprietary Web trading platform
• User friendly design and login
• Price alerts and push notifications
• Supporting many languages
|• WebTrader is more suitable for beginners|
Languages available on the Web Trading platform
It is also very important to use the platform through your native language, therefore AvaTrade supports truly numerous languages, so you may select your best preferences. Available languages including but not limited to
Look and Feel
AvaTrade platform either web one or its additional software MT4 or MT5 features clear look and simple navigation. So whether you’re beginning or professional you will be happy to see intuitive design yet with powerful capabilities of tools. Also, you may choose the most suitable software according to your need either from WebTrader, AvaTradeGo app, Mac Trading or AvaOption platform.
Which was developed by Ava and allows you to enjoy another level of Options trading or FX with calls and puts, use of embedded tools and overall easy trading experience.
Login and Security
Accessing your account either through MT4 or MT5, along with other Ava platforms is a quite simple process. If you login through Web version you simply need to follow steps of security login.
In case you use AvaMetaTrader you need to install the desktop program then click on File-> Login to Trading Account, while typing your credits so then you’ll enjoy trading instantly.
One of the good features at the Ava platform is its search function, offering you easy navigation between the instruments or products you wish to trade. So by simple search line you will find the desired instrument through an advanced search between assets or options through a use of symbols.
AvaMetaTrader or other platforms allows you to set specialized order types in order to manage risks, or set, adjust and manage profits or losses at any time. You may set either Trade Market or Pending order also specifying Stop Loss, Take Profit, Trailing stop and select desired type of executions. Also you may always modify your order through Order Modification Window. Eventually, you should stick to your strategy strongly and always set risk management tools for your successful trading experience.
Also note, AvaTrade does allow the holding of both Sell and Buy position known as hedging strategy.
Alerts and notifications
Platforms also powered with advanced technical indicators, charts and real-time price alerts with notifications which you may receive to your email. Thes
Desktop Trading Platform
It is still an option to use at AvaTrade desktop Platform which is an industry leading software very common, very powerful, yet allows flexible trading with a full capacity of auto or robot trading. You also can switch to MT4 Variable Spreads that offering the trade with lower spreads, starting at 0.9 pips and derived directly from the market liquidity, or to choose the fixed spread.
• Suitable for professional traders or beginnersc
• Many languages supported
And the last but not the least, the AvaTrade Automated Trading capabilities, a very useful and promising tool especially for beginning traders. So Avar brought a variety of auto-trading software that enables copy or mirror the experienced strategy of successful traders.
AvaTrade offers few platforms to access auto trading which includes: DupliTrade is another successful social platform available for your opportunity, which suited for MT4 floating spreads and automatically copies the trades.
You still may also use ZuluTrade – one of the most popular auto trading software, and MQL5 – designed for MT4 terminal and enhancing signals service to auto-trade.
Mobile Trading Platform
Mobile app which AvaTrade absolutely proud of is AvaTradeGO, which is simple to use and offers a wide circle of tools at the same time. The App features a friendly dashboard with advanced tools and step-by-step guidance for trades opening, activity feedback and support.
As well, the platform allowing management of multiple MT4 accounts or switch between demo, real and variable spreads accounts.
• Customer friendly and easy to navigate
• Price alerts with notifications right at your mobile
• Many languages supported
So getting to AvaTrade customer support it provides 24-hour live support available through live chat, email, phone support in 15 languages. Eventually, AvaTrade offers some of the greatest quality support with fast and reliable answers and a huge range of free of charge lines all around the world.
|• Quality customer support with live chat
• Fast response
|• Phone support not available 24/7
In addition to its some of the good quality trading offering among industry, all clients can enjoy absolutely stunning education resources. As Ava states that inspiring and expanding horizons of traders is the main part of everyday trading life.