Ava FX is one such broker that can be considered to be king when it comes to online forex trading. The feature rich and user friendly interface offered by AvaFX makes it possible for first time traders to acquire every single bit of information required to start trading with a clear mind. However, there are certain things that you ought to know about AvaFX before using it.
Features of the virtual demo account offered by AvaFX
Its software offers a virtual demo account for new users to practice. This demo account is offered by AvaFX for a time period of 21 days and is pre-loaded with $100,000. This account comes packed with loads of features and is basically somewhat like a real live online forex trading account at AvaFX in many ways. This is because these accounts are meant to help traders get a feel of what trading forex online is like.
Features of the live accounts offered by AvaFX
The live accounts at AvaFX are structured in the following way:
Silver Accounts – Silver accounts require a minimum deposit of $100.
Gold Accounts – Gold accounts basically require a minimum deposit of $1,000.
Platinum Accounts – Platinum accounts require you to deposit at least $10,000.
VIP Accounts – VIP accounts need you to deposit a minimum of $50,000.
Traders at AvaFX earn a deposit bonus for their initial deposits and the extent of this bonus is based upon the type of account being used. AvaFX also caters to Islamic accounts.
Payment Options and Account Funding
There are a wide variety of payment options for traders at AvaFX. These are inclusive of Western Union, major credit cards, PayPal, wire transfer, MoneyGram, WebMoney, Neteller and MoneyBookers. Funding accounts is extremely easy and quick. Traders gain instant access to all of the options, trading tools and features linked to the account.
Features and Bonuses at AvaFX
New traders at AvaFX get to receive many special offers and bonuses such as those offered for using particular payment methods, deposit match bonuses as well as reduced minimum deposit rates. Trading at AvaFX is extremely easy and trades basically feature double click market trades and single click market executions. Not only does the software at AvaFX feature user-friendly updated reports and charts, it also allows traders to save multiple charts in a single spreadsheet.
Software offered for trading by AvaFX
Traders at AvaFX are offered the software in two diverse platforms, both of which are full of features and are very user-friendly. Its downloadable version is called Ava Trader and its online application is called Ava Java. Both of these platforms are known to offer a multitude of abilities to traders. The best part about both these platforms is that they do not have hidden fees. This obviously means you do not have to pay any commissions or extra fees to AvaFX. Whenever traders trade at AvaFX, they get to acquire live streaming dealing rates and dealing rates tale windows that have executable rates displayed on them clearly. The software additionally offers support for the standard Meta Trader4 base.
Ava Trader in its default settings has a 6 window spread. On the left there are 3, which display dealing rates, orders and open postings. On the right, there are account info, summary and instruments. This is the default setup of the software at AvaFX. It has 15 additional windows, all of which can be customized by the trader. The workspaces at can also be customized and then accessed by tabs. The sub window of dealing rates presents currency pairs together with the sell and buy buttons to make transactions easier for the chosen pair. The only thing that you need to do is specify the volumes.
To boost the general usability of the package, traders can choose only the currencies that they are currently working with. Just clicking the “Sell” button allows traders to sell currency cross. Similarly, the “Buy” button allows them to purchase the currency cross. As soon as an option is chosen, a new position window opens up. This window basically asks you to set the amount that you are interested in trading. Just clicking the “OK” button is all that is needed to get things going!
Added Features At AvaFX
On the order pop-up, the additional features offered by AvaFX are pre-defined trailing loss, stop loss, take profit and pre-defined limit. Traders can view all the active trades in the orders sub window too and also check out open positions.
The user-friendly nature of the packages at AvaFX is additionally boosted through what is known as the “Account Information Window”. This window basically displays the updated status of your balance along with the total equity and P & L and used and available margins. Adequate support is offered for the software by an online support centre. AvaFX also has an FAQ’s section together with a 24 hour phone in support feature, which can be accessed in a number of different languages. As opposed to the support services offered by many other brokers, the support reps at AvaFX are extremely helpful and always available.
AvaFX also offers a number of other extremely effective charting tools like horizontal and vertical lines, trend lines as well as a Fibo retracement tool. In order to access them at AvaFX, all you need to do is right click a currency pair and then click on “Open Chart” from the drop down menu.
Drawbacks of AvaFX
The single drawback reported about AvaFX is that its platform has a tendency to market orders slowly during major news releases.
Being a BVI registered brokerage company, AvaFX has a pending NFA membership. It is regulated by Irelands Financial regulator to the highest of EU standards. It has a backing of about a $16 billion LFC asset base and is currently being audited by the 4th largest auditing firm in the world, Ernst & Young. This is the reason why you do not have to think twice before using AvaFX. All of its assets lie with the German Commerz Bank based in Frankfurt.
To cut things short, trading with AvaFX is truly worth it. Getting stuck while using AvaFX is just not likely. The best part about the program offered by AvaFX is its ease of use considered that traders just need to go through the website once to get a grasp of things. But if things are still hazy, traders can use the demo account to understand the program at AvaFX better.