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AvaTrade Australia Review 2024 - TU expert opinion

Updated: May 02, 2024
Mikhail Vnuchkov
Contributor
Opinions expressed by Traders Union Contributors are their own.
Reviewed by
Dr. BJ Johnson
Editor
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Table of Contents

  • Is Forex legit?
  • Our Evaluation of AvaTrade
  • Detailed Review of AvaTrade in Australia
  • Advantages of AvaTrade for trading in Australia
  • Analysis of the Main Features of AvaTrade
  • Trading Conditions for AvaTrade Users in Australia
  • AvaTrade Commissions and Fees
  • FAQs
Editorial Note: While we adhere to strict Editorial Integrity, this post may contain references to products from our partners. Here's an explanation for How We Make Money. None of the data and information on this webpage constitutes investment advice according to our Disclaimer.

Is the Forex market legit in Australia?

Forex trading is legal in Australia. The number of users earning their additional income from trading currency assets is increasing every year. The Australian Securities and Investments Commission (ASIC) regulates financial organizations. The commission supervises the operation of financial markets and financial services organizations.

Under the law of the country, the income earned from investment activity must be declared and taxed. Brokers with the ASIC license can provide access to any Forex assets. Clients can also use leverage for trading.

How to Trade Forex in Australia

First you need to choose a local or international broker with the ASIC license and register a personal account on the website of the brokerage company. Next, you need to pass verification in order to have access to all available services. Once you’ve completed verification, you can deposit funds to your trading account and start trading. People without trading experience are advised to first test their skills and trading strategy using a demo account to avoid risking their own money.

Our Evaluation of AvaTrade

8.13/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details

AvaTrade is one of the top brokers in the financial market with the TU Overall Score of 8.13 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews prove that the broker’s clients are fully satisfied with the company.

AvaTrade is a brokerage company that provides optimal working conditions for all traders with any skill level. The broker provides customers with security by protecting their data and finances, and they are constantly working to improve the service.

Detailed Review of AvaTrade in Australia

AvaTrade is a good choice for traders from Australia. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.

AvaTrade has been providing services at the market for more than 14 years and during this time it has become one of the leading companies. It is consistently on the list of the best Forex brokers. The broker diligently fulfills its obligations towards the customers and regulatory authorities, implements innovations in its activity, and is constantly working to improve its service.

The company's activity is regulated by 7 commissions at the same time: CBI (EU), B.V.I. FSC (British Virgin Islands), ASIC (Australia), FSCA (RSA), CySEC, FSA, and FFAJ (Japan). The broker uses segregated accounts for more reliable protection of customer's funds.

Here are some figures about AvaTrade brokers, which can be interesting for traders:

  • a wide range of trading instruments - more than 250 assets;

  • customer service that speaks 14 languages, available 24 hours 5 days a week;

  • accreditation from 7 regulatory authorities from five continents;

  • the company's monthly turnover is more than 60 billion US dollars;

  • the company’s experience is 14 years of work at the financial services market;

  • more than 200 thousand customers worldwide;

  • since 2009 the broker has received 9 awards for the quality of services provided.

Advantages of AvaTrade for trading in Australia

Traders Union analysts conducted a detailed analysis of AvaTrade for traders from Australia. The experts outlined the key benefits of the company for the clients from this country. The advantages of the broker are as follows:

1

availability of special accounts forIslamic traders;

2

large choice of trading platforms, mobile trading;

3

permission to use advisers, indicators, charts, and other instruments for automated trading;

4

Training section: Educational platform, tutorial videos, analytical materials and webinars for traders;

5

provides support by qualified experts 5 days a week at any time of the day;

6

high level of protection for customer funds stored at segregated accounts;

7

high level of accreditation. Licenses from the leading regulators across 5 continents.

Analysis of the Main Features of AvaTrade in Australia

AvaTrade Review
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Traders Union analysts analyzed the key features of AvaTrade for traders from Australia. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.

User Satisfaction Customer Satisfaction Score (CSAT) is a unique metric of Traders Union based on the analysis of user reviews posted on pages of each broker profile by the visitors of our website from all around the world. We have been collecting these broker reviews for over 13 years, and therefore, we know and understand the level of customer satisfaction with a specific brokerage company better than anyone else.

7.02

/10

Regulation and safety The score for this parameter is based on the licenses a company holds. The higher the level of the license, the higher the score. Obtaining licenses in other jurisdictions also improves a broker’s score. We divide all licenses into three levels:

Level 1 jurisdictions (high level of trust): CFTC – USA, FINMA – Switzerland, FCA — UK, ASIC – Australia, CBI – Ireland, JFSA — Japan, MAS – Singapore, FMA — New Zealand, IIROC – Canada, SFC – Hong Kong.

Level 2 jurisdictions (medium level of trust): CySEC – Cyprus, FSCA – South Africa, CBRC – China, SEBI – India, ISA – Israel, SECT – Thailand, DFSA – United Arab Emirates

Level 3 jurisdictions (low level of trust): FSC – Belize, FSC – British Virgin Islands, FSC – Mauritius, VFSC – Vanuatu, SCB – The Bahamas, BMA – Bermuda, CIMA – Cayman Islands

9.50

/10

Commissions and fees This parameter comprises a comprehensive analysis of all commissions and fees charged by a brokerage company, including trading and deposit/withdrawal fees. Also specific fees, for example the inactivity fee, are taken into account in the final score for the fees. Users can find detailed fees charged by a company in the broker’s profile.

7.20

/10

Trading instruments For this parameter, we evaluate the number of trading assets a broker offers access to in each group of financial instruments. We analyze the quotes a broker offers on Forex pairs, metals, indices, commodities, stocks, and cryptocurrencies. This parameter also includes evaluation of broker’s investment programs, for example access to copy trading, which we regard as an additional type of a trading instrument.

10.00

/10

Brand popularity Traders Union experts are confident that brand awareness mostly fully reflects the real state of affairs in a company – the more popular the broker, the more people trust it. The score for this indicator is based on the data analysis of such services as Ahrefs and SemRush, which show how often a company’s brand is searched on Google. In addition, indicators of the SimilarWeb service, which show the approximate number of visitors of the broker’s website, are also taken into consideration. We also review disclosed official reports of brokers, which allow for evaluating their client base.

8.50

/10

Customer support The score of this parameter is based on the number of available communication channels of a company’s support service. The quicker and easier it is to contact the broker’s support, the higher the score. We check every available support channel, test the speed of processing of requests and completeness of provided information through several interactions.

7.90

/10

Education This parameter provides an evaluation of a company’s capacity to work with beginners. Only quality training and provision of full and unbiased information can help novice traders and investors minimize the risks of losing money, even when working with top-ranked companies. Brokers with useful educational and informational tools, including webinars, tutorials, podcasts and articles, receive higher scores.

6.80

/10

Trading conditions for AvaTrade traders from Australia

It is important to assess trading conditions before you decide to work with a specific company. Traders Union analysts have prepared a comparison of AvaTrade trading conditions for traders from Australia. The experts analyzed minimum deposit, trading platforms, leverage and other important information that could impact a trader's choice of a broker.

💻 Trading platform:
MetaTrader 4, MetaTrader 5, Mirror Trader, ZuluTrade, AvaTrader, mobile and web versions of МТ
📊 Accounts:
Standard, Demo
💰 Account currency:
AUD, JPY, GBP, USD, EUR, CHF
💵 Replenishment / Withdrawal:
MasterCard, bank transfers, e-wallets
🚀 Minimum deposit:
100$
⚖️ Leverage:
1:30 to 1:400
💼 PAMM-accounts:
No
📈️ Min Order:
0.01
💱 Spread:
From 0.9 to 3 p.
🔧 Instruments:
Forex pairs, Cryptocurrencies, Commodities, Indices, Stocks, Bonds, Vanilla Options and ETFs
💹 Margin Call / Stop Out:
25% / 10%
🏛 Liquidity provider:
Currenex
📱 Mobile trading:
Yes
➕ Affiliate program:
Yes
📋 Orders execution:
Instant Execution
⭐ Trading features:
Cryptocurrencies and CFDs trading; Islamic accounts.
🎁 Contests and bonuses:
Yes

AvaTrade Commissions and Fees

Traders Union analysts analyzed commissions and fees charged by AvaTrade for traders from Australia. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.

Information

The broker has been checked by our experts for the existence of explicit and hidden commissions, in particular a commission for trading volume and withdrawal of funds.

Account type Spread (minimum value) Withdrawal commission
Standard From 0 to 20 US dollars, depending on the platform No

We have also analyzed commission indicators of Ava Trade competitors - RoboForex and Exness. Based on the results of the study, we distinguished three categories: high commission level, medium and low.

FAQs

Is AvaTrade legal in Australia?

Yes. AvaTrade operates legally in Australia. The broker holds the necessary licenses.

Can you learn trading with AvaTrade? Does the broker offer courses for traders from Australia?

Yes, AvaTrade offers good trading courses and a lot of educational information for clients from Australia.

Can AvaTrade be trusted? Has the broker been operating in Australia long?

AvaTrade has been operating in Australia quite long and has a good reputation. Therefore, traders can work with AvaTrade.

Is AvaTrade suitable for novice traders from Australia?

Yes. AvaTrade offers optimal trading conditions and good education for beginners from Australia.

How efficient is AvaTrade customer support in Australia?

AvaTrade offers a sufficient number of ways to contact customer support in Australia, and also provides support in the state language.

Has AvaTrade had any incidents involving theft of funds of clients from Australia?

No. AvaTrade provides reliable security of funds of clients from Australia.

Will I be able to file a lawsuit in Australia if AvaTrade violates my rights?

Yes. If AvaTrade violates your rights, you can file a complaint with the regulator of Australia, and then with a court.

Can AvaTrade clients from Australia use the broker’s mobile app?

Yes. The mobile app of AvaTrade is available for the clients from Australia.

Does AvaTrade provide Australia market analysis?

Analysis of Australia is featured in the information provided by AvaTrade.

How can I withdraw funds from my account at AvaTrade in Australia?

AvaTrade supports bank transfers and debit/credit cards of the banks operating in Australia.

Team that worked on the article

Mikhail Vnuchkov
Mikhail Vnuchkov
Author at Traders Union

Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.

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Dr. BJ Johnson
Dr. BJ Johnson
Developmental English Editor

Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.

Read more