AVA FX Review – Forex
AVA FX have been trading since 2006, and within this time, they have built up trading volumes of up to $20 billion a month, placing them up there in the major league. If you are new to the trading game, size is a consideration, you can always move on once you are fully experienced, but, whilst gaining that experience, it is often wise to do so within security of a very big broker.
AVA offer the Forex platform trading system on currency pairs, commodities, and indexes. This should be a welcome relief to the trader who wants wide market coverage, but without the risk of spread betting or the limitations of fixed odds betting. Having said that, potential profits are not going to be as high as spread betting unless you have a serious amount of cash to spare, but then again, you can't have everything.
AVA FX offer a whole of Currency Pairs with spreads starting from 3 pips for the EUR/USD. The standard lot size is 5,000 which means you are not so heavily reliant on leverage - although it'll take you a while to make a fortune at this level. Having said that, it is always advisable to start small. They also offer two types of trading account Euro and Dollars. Bearing in mind that this is currency trading, and 3 pips spread are offered on both accounts for the EUR/USD it is obvious that you should do your maths before deciding which type of account to trade in.
There are two demo accounts available, online and download. Unfortunately for MAC users, the downloadable platform is the superior version, but is only available for windows.
As you can see below, like a few other brokers, they've opted for customisable windows based software, which although having its advantages is not the best choice for the beginner who is not entirely serious about putting the time in to learn how to trade. There is 'easier' software out there, but having said that The forex software would appear to have been bought in, not developed in-house, as it is extremely similar to a couple of other brokers'. For example, when placing a stop loss, you set the amount on the actual potential price (e.g. 1.4078), rather than say placing a $100 stop loss. Now the flip-side of this, is that it gets new users used to thinking on their feet instead of relying on the software. This is a good thing, however, it is more appropriate to someone with a bit more time on their hands. The ideal situation, is obviously software that does both, so you can immediately see the financial implications of your trading options without having to get the calculator out - great for the newbie, and experienced trader. This is not a major criticism, but apart from other issues such as support, and reliability, on which AVA do meet the mark, user-friendliness of software is a bit of a consideration.
Trailing stop losses, and price alerts come as standard, functions that are a bonus, and that strangely not all brokers provide. These functions are however essential to anyone who plans on making a few bucks from trading without having to be glued to the screen for every minute of open trading.
There are three levels of account available, and with a minimum deposit of $100, the silver account is probably the best option for the beginner. Although lower profits can be realised with this account, this means lower losses as well. It's your choice!
The software includes access to an economic calendar, although technical analysis is not available on the demo account.
It is always a concern to know who you are dealing with when parting with cash, particularly in an area that can be described as gambling. AVA FX's strength is in its backers who are very big ($17 billion), and AVA have been audited by Ernst and Young, something not to be taken lightly, and a fact that should inspire confidence. An auditing firm like Ernst and Young lives in part by its reputation, and does not risk that reputation by passing 'fly by nighters' through their books!
AVA provide a fully customisable platform, that is backed up with reliable support, and analytical and educational resources, enabling the individual trader to confidently use their one click trading system. Despite reservations over the user friendliness of the software, overall they rank well, and should definitely be considered by anyone who thinks they can make a few bucks using the Forex method.
AVA Trader Forex Trading Platform
The Facts
How To Open An Account
Minimum Deposit
- $100
Minimum Trade
- $25 on Currencies
Promotions
- NEW OFFER - Deposit $300 and get $200 bonus, deposit $1,000 and get $400 bonus, deposit $5,000 and get $1,000 bonus, deposit $10,000 and get $2,000 bonus.
Deposit Withdrawal
- Neteller, Patpal, Moneybookers, Webmoney, Diners Club, Visa Card, Mastercard - No charges
Trading Platform Logon
Tutorials
- Comprehensive - online
Support
- Email, Live Chat, Telephone (Intl.)
Operating system requirements
- Online Java for Macs / Windows for download
Demo Account
- Virtual $100,000
