Editor’s Verdict
Overview
Review
Headquarters | Ireland |
|---|---|
Year Established | 2006 |
Minimum Deposit | 654 |
US Persons Accepted? |
As a broker that trades over 1.5 billion trades each month, there’s no question that Ava FX is one of the leading Forex brokers online today. What sets Ava FX apart from other Forex brokers, however, is not only the volume of trades it processes each month, but the site’s intuitive user interface that caters both to both financial professionals and new Forex traders. We tested the trading platform, customer service, ease of use and other elements of Ava FX and reported our findings below.
General Information
Maximum leverage: 1:400 Minimum deposit: $100 Minimum deal size: 5,000/limited by margin Languages available: English, Arabic, Chinese, Dutch, French, German, Italian, Japanese, Spanish, Hindi
Trading Platform
The primary trading platform used by Ava FX is called the Ava Trader that gives users the opportunity to trade in FX quickly, using the wildly popular Meta Trader 4 platform. Ava FX also offers a web based trading platform which is cleverly called Ava Java. Live trading accounts on AVAFX can be categorized under Silver account with a minimum deposit of $100, Gold with a minimum deposit of $1,000, and Platinum with a minimum deposit of $10,000. The company’s demo account has all of the features that you will find on Ava’s live platform, which offers an excellent introductory trial.
View of Ava Java trading platform (Click image to enlarge)
Although Ava FX does not currently offer the MetaTrader 5 platform, we did not feel as though this service was lacking, as the company’s MetaTrader 4 platform performs solidly and conveniently provides all necessary Forex trading information. We were pleased, however, to find that Ava FX offers a mobile trading platform with an extremely detailed explanation of how to use it, as well as direct links for platforms catering to traders using different currencies.
In addition to standard web-based trading, Ava FX also offers a mobile trading platform which supports all major mobile platforms. The beauty of this mobile trader is that it is web-based and not run through an app, so that it integrates seamlessly with any mobile device to allow convenient Forex trading anytime, anywhere. Finally, Ava FX offers an autotrader, aptly called the Ava AutoTrader, which we’ve reviewed separately so that you can decide independently whether these autotraders are right for you.
Features
Ava FX offers an expansive array of features, including full streaming rates, up to the second flowing executable exchange rates 24-hours a day, and a wide range of currency crosses. However, during the course of our Ava FX review, we were equally impressed by the features that the company doesn’t offer, including rollover fees and margin call fees – expenses that we didn’t miss for a moment.
Good, easy to use, charting tools are available on Ava FX. Some of the features included in Ava FX’s charting tool are Trend Lines, Fibo Retracement, Horizontal Lines, and Vertical Lines etc. Though these features may not be sufficient for truly advanced traders, they are more than sufficient for new traders and can truly enhance the trading experience.
We also appreciated that trades are executed with single-click market executions, or with double-click market trading. Similarly useful were the company’s Updated Economic Calendar Analysis and the professional analysis provided on the site that made it possible to make systematic, rational trading decisions. Finally, we were delighted to see that Ava FX offers bonuses and special offers for new traders such as reduced minimum deposit rates, special bonuses using specified payment methods or cash added to your account upon first deposit.
Customer Service
AvaFX offers multiple forms of customer service, including email support, phone assistance and live chat. We found their phone support to be the most impressive – in repeated tests of the company's phone service, we were answered promptly by a helpful agent . It is important to note that unlike other Forex brokers, Ava FX offers a singular customer service phone number which is based in America, so traders calling from abroad may need to make a long-distance call to get quality support. Still, it is possible to get multi-lingual support at this number, so traders who aren’t native English speakers need not be afraid to call.
AvaFX also offers online chat services, though there may be a short wait time before a representative is available. Traders in some countries may not qualify for chat support as the service is intended only for those in countries where Ava FX is allowed to provide its services. The wait nothwithstanding, we found the Ava FX chat support team to be knowledgeable and friendly. Like their phone support, Ava FX's chat support is available in nearly every language.
Ava FX Chat (Click image to enlarge)
Ava FX’s email support team took 17 hours and 55 minutes to respond to our initial request, but when we responded to the email response, we were delighted to see that Ava FX’s team responded significantly faster.
Customer Service Email (click to enlarge)
Lastly, it’s worth mentioning that Ava FX offers very useful online tutorials and a robust education center which makes it possible for users to seek answers to their questions independently. Although the information provided is more than adequate, the only thing missing is a search feature on the site, which would help streamline the process considerably.
Ease of Use
Of all the Forex brokers and trading platforms that we tested, we found Ava FX to be one of the easiest to use. One thing that sets Ava FX apart from other Forex sites is that it offers a clearly-designated guided tour, which is a video with audio, clearly explaining how to use the site. Traders who don’t want to site through the guided tour can take a ‘virtual tour’ through which they can select topics and watch topic-specific tutorials at their convenience.
Even a cursory look at the Ava FX website should make users feel instantly comfortable. Unlike other top Forex brokers such as Markets.com or eToro, Ava FX’s homepage is uncluttered and offers a clear navigation which makes it easy for visitors to find their way on the site. Equally impressive are the company’s trading platforms which are clearly delineated and not overly complicated, making it easy for both new traders and Forex experts to keep their thoughts organized.
Although Forex is a relatively complicated industry, we found that Ava FX makes a supreme effort to keep their site and their tools organized and simplified while offering contemporary technology and analysis so that all types of traders can thoroughly enjoy the experience.