Many retail forex traders think AvaFX is one of the best forex brokers online. Based in Dublin, Ireland, AvaFX is relatively well capitalized for an online broker, and is regulated by the Central Bank of Ireland in compliance with the European Union’s MiFiD investment regulations.
In terms of suitability, AvaFX would probably have the greatest appeal to more experienced forex traders since the broker offers its clients advanced forex analysis tools, automation features, a high quality professional style forex trading platform called AvaTrader, and it supports both the independent MetaTrader4 trading platform and mobile trading for both iPhone and Android devices.
Practice Accounts - AvaFX offers a free and easy to open practice account to those who wish to practice trading with the online forex broker before actually funding an account. This account is funded with $100,000 of virtual money and can be used to test the performance of manual trading systems or automated MetaTrader Expert Advisors.
Standard Accounts- AvaFX offers different types of trading accounts depending on which platform you intend to use, with a minimum deposit of $100 required. The default account offers the high quality professional style forex trading platform called AvaTrader. Traders who want to use MetaTrader4 or Ava’s Mirror Trader platforms need to open up different accounts.
AvaFX offers several ways to fund your forex trading account. You can add funds using credit cards, PayPal balances, WebMoney and via bank wire transfers.
Withdrawals can be initiated in several ways, including credit card accounts, via bank wire transfers and in check form to U.S. based clients.
More sophisticated clients of AvaFX can enjoy the many features of its high quality professional style forex trading platform called AvaTrader that is available as downloadable software.
The company also offers a web based platform called AvaTrader Online that can suit Mac or Linux users, as well as traveling forex traders. In addition, the broker offers a mobile trading app for both iPhone and Android devices to clients free of charge.
AvaFX also supports the very popular independent MetaTrader4 trading platform that is available for download free of charge from its developer’s website and has an extensive array of automated forex trading and custom indicator software already written for it.
A major advantage of AvaFX is that the broker allows you to trade commodities like oil, gas, precious metals, sugar and cotton, plus major stock indexes, in addition to forex.
AvaFX also offers a variety of educational material that can assist a trader just starting out in the forex market. For example, the forex broker’s Education Center offers a comprehensive introduction to forex trading basics, some help trading tips, information about technical and fundamental analysis, a glossary of forex related terms and a downloadable Forex Trading Strategies e-book.
The broker also provides Live Webinars, video tutorials, real time charts, a Market Analysis blog and an excellent forex related economic data calendar.
In terms of customer service, AvaFX offers a wide range of local and toll free support phone lines, as well as an Online Support Center, live help and callback services.