AVA FX Review
Ava Fx was founded in 2006 by a team of professional traders and Internet experts with the purpose of providing retail traders with an excellent trading platform and tools. Therefore the company is customer oriented, being more than a simple online extension of financial institutions. The success of Ava FX has seen the company recently expand into the Australian market with an office now in Sydney. The company is regulated by ASIC and have an AFSL.
Ava FX: The Financials
The company has over $17 billion in assets and is backed by a major financial institution. Ava Fx has its headquarters in the British Virgin Islands and it also has a subsidiary in the European Union, based in Dublin, Ireland, which is fully regulated by the EU and the Financial Regulator of Ireland.
Ava Fx: User Friendly to a Fault
Everything about Ava Fx is designed to be user friendly, from their trading platform to their website which offers all the information one needs about the company and its services. Everything is very accessible and quite transparent.
Even the registration process is simple, whether you are opening a live or a demo account. Traders can test the platform via the demo trading account for 21 days which offers $100,000 in virtual currency. The demo account can be used to trade both currency as well as metals.
Ava Fx: Account Types and Funding
Traders can open silver, gold or platinum accounts as well as Islamic accounts. The Silver account has a minimum deposit requirement of $100, the Gold $1,000 and the Platinum $10,000. This broker also offers up to $1,200 in bonuses for initial deposits and also has plenty of other special offers for new traders signing up.
Accounts can be funded in a variety of ways, including credit card, PayPal, Webmoney, Western Union and wire transfer. When using a credit card to fund the account, the transfer is instant and customers can start trading right away.
Ava Fx: The Platform
Ava Fx offers a user friendly trading platform that still features all the tools a professional trader could ever need. Not only do traders have the ability to save multiple charts but they can also keep up to date with the market by using the daily commentary and analysis provided by the experts on Ava Fx’s team.
Ava Fx offers their own proprietary platform, also known as Ava Trader, as well as the popular MetaTrader 4 platform for customers who are accustomed to MT4. Ava Fx also has a web based platform known as Ava Java.
Both versions of their proprietary platforms offer the same easy to use features with single or double click market trade execution and the ability to place stop losses, market orders and entry orders as well as take profit levels and more.
The platform, on its default setting, has 6 windows with Dealing Rates, Orders and Open Positions on the left and Instruments, Account Information and Summary on the right. These are the default settings as the platform also features another 15 sub-windows that can replace or be added to the main interface according to the user’s preference. The interface is extremely flexible, allowing traders to build their own workspace areas and switch between different work spaces using tabs.
Traders can buy or sell currency pairs directly from the Dealing Rates area by clicking on the respective buttons. Once clicked, traders will have to enter the amount they wish to trade, their stop loss, a trailing stop, a take profit or a predefined limit and then the trade will be executed. To follow the progress of open trades one can watch Open Position sub window.
The platform offers a comprehensive range of charting tools that are very easy to use. Traders can open individual charts for different currency pairs by right clicking on the pair in question. They can then analyze the charts and skip between them via the tabs. Each chart allows access to all the indicators and charting tools, including different Fibonacci studies – retracements, arcs, fans etc. – Trend Lines, Horizontal and Vertical Lines and more.
However, it needs to be mentioned that while the available tools might be sufficient for beginners it may prove a poor offering for professional traders. This is because Ava Fx offers only approximately 20 indicators which is why experienced traders might want to use a different platform. On the other hand, one can use the MT4 platform which is highly customizable and allows for a virtually unlimited number of indicators and expert advisers.
Ava Fx: Trading Tools
Ava Fx provides real-time streaming rates that are updated virtually every millisecond 24 hours a day. This means that, along with their practically instant trade execution, traders get the exact price they see.
Not only do they offer a wide range of currency pairs to trade but they also offer customers the ability to trade CFDs on commodities, metals and stock indices. They have also recently introduced stock trading.
Leverage is approximately 200:1 but, while this does provide higher potential profit it can also backfire and lead to even greater losses. Thus, traders should ensure they use proper risk and money management.
Read the AVA FX Review from Forex Peace Army.
