AVATrade Kuwait Review
AvaTrade review Kuwait – AvaTrade Trading Company
In 2006, AvaTrade was founded in Dublin, Ireland. The company has 150 offices in different countries. It currently has more than 200, 000 registered users and processes more than 2 million transactions every month. These factors contribute to AvaTrade being a reliable and trusted broker. They are accredited across five continents and are one of the market leaders. The broker is regulated by the Australian Securities and Investment Commission (ASIC), the Japanese FSA, and the South African FSCA.
AvaTrade is regulated by the Abu Dhabi Financial Services and the British Virgin Islands Financial Services Commission. In addition, traders can trade stocks, securities, indices, cryptocurrencies, and currency pairs in AVA Trade platform. They offer more than 250 instruments/assets to their customers. However, AVA Trade does not come under any regulators in Kuwait. But the traders trust AVA Trade for Forex trading in Kuwait.
Advantages of trading with AvaTrade:
- a wide range of trading instruments;
- there is a license for the provision of services on the territory of 5 continents;
- customer service operates around the clock and provides competent assistance to users in 14 languages;
- a wide choice of convenient trading platforms;
- ability to trade from mobile devices;
- availability of an account for representatives of Islam (swap-free);
- for reliable storage of customer funds, the broker uses a segregated account;
- option for automated trading using trading advisors, indicators, and other analysis tools;
- no restrictions on trade and scalping;
- availability of training materials and conducting webinars for beginners and experienced traders.
- Inactivity fee charged: Yes
- Withdrawal fee amount: $0
- Minimum deposit: $100
- Time to open an account: 1 day
- Deposit with bank card: Available
Disadvantages of AvaTrade:
- the site interface is not user-friendly;
- customer service efficiency and response time
- trading terminals are prone to freeze occasionally.
Trading Conditions for AvaTrade Users
- $100: Minimum deposit
- 1:400: Leverage
- 24/5: Support
AvaTrade offers traders only two types of accounts – Standard and Demo accounts. Trading conditions for Standard accounts differ across different trading platforms.
When registering a Demo account, traders will receive a bonus in the form of 10,000 US dollars to obtain trading skills.
Another advantage of AvaTrade, which traders often note, is a large choice of assets – there are more than 250 of them.
AvaTrade review Kuwait – Detailed Review of AvaTrade
AvaTrade has been providing services at the market for more than 14 years. 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 constantly improves 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), FRSA (UAE), 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.
How do you Start Making Profits — Guide for Traders
AvaTrade offers its customers only two types of accounts – real and demo. At the same time, the broker gives great freedom when choosing a trading terminal. Different terminals are adapted for different types of trading, therefore, before starting work, you should familiarize yourself with the specification of trading platforms.
Bonuses Paid by the Broker – Welcome bonus.
The broker offers its customers a one-time bonus upon first deposit.
Bonus for inviting a friend.
A trader can receive up to 400 US dollars for inviting friends. Simply submit the friend’s data (name, surname, trading account number) to redeem. After the friend deposits to the confirmed account, the trader will receive a referral bonus, the amount of which depends on how much his friend has replenished the account.
AvaTrade review Kuwait – VIP customers Bonus Program
To get a VIP-status, you need to reples your account with an amount of 1,000 US dollars or more, after which you will get access to online lessons with a personal trading coach and additional training courses. Also, VIP-customers will have a personal manager who will help to understand the nuances of working at the market.
Withdrawal Options and Fees
- AvaTrade does not charge a commission for its services.
- You can withdraw funds at AvaTrade using 5 electronic systems: PayPal, WebMoney, Neteller, Wire Transfer, Moneybookers, as well as the MasterCard and the Visa credit cards.
- An application for withdrawal of trading funds is considered from one minute to two days. However, withdrawal of funds to electronic wallets is carried out within a few minutes; cardholders have to wait up to five days.
- You need to hold verified membership and make a minimum deposit of 100 US dollars to withdraw.
AvaTrade review Kuwait – AvaTrade trading fees
AvaTrade’s trading fee is low. The fee structure is very transparent and trading costs are very easy to calculate. However, if the fee level is your most important factor for forex pairing, then there are better options.
We know that it is difficult to compare trading fees for CFD brokers. So how do we deal with the problem of making their fees clear and comparable? First, we compare brokers by calculating all the common trade fees for the selected product.
In this review, we chose some popular instruments within each asset class:
- Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP
- Stock index CFDs: SPX and EUSTX50
- Stock CFDs: Apple and Vodafone
A simple trade means buying a leveraged position, holding for a week and then selling. We have chosen a $ 2,000 position for the stock index and stock CFD and $ 20,000 for the Forex transaction for volume. The leverage we used was
- 30:1 for forex
- 5:1 for stock CFDs
- 20:1 for stock index CFDs
These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. So let’s see the verdict for AvaTrade fees.
AvaTrade has low CFD trading fees.
AvaTrade has mixed non-trading fees. For example, AvaTrade doesn’t charge any account fees, while deposits and withdrawals are also free of charge.
On the downside, AvaTrade has an inactivity fee of $ 50 per quarter after 3 consecutive months of inactivity. On top of that, after 12 months of non-use, an annual administrative fee of $ 100 will be deducted. Adding these inactivity-related fees is higher than AvaTrade’s counterparts.
What is the minimal deposit of AvaTrade?
AvaTrade minimum deposit required for credit / debit card and e-wallet is $ 100. Although it is said to be $ 500. Live Chat tells us that the minimum deposit is $ 100 via bank transfer.
AvaTrade review Kuwait – Account types
The different types of accounts available at AvaTrade are:
Retail account (EU) / Standard account- account is owned by an individual
- Islamic account – swap-free account
- Spread betting account – offered only in the UK and Ireland
- Options account – to trade FX options
- Corporate account – account is owned by a legal entity
If users are experienced trader, they can request AvaTrade to start a professional trade with a Professional Trading account. Here the leverage is higher than in the Standard account. However, this requires that traders have relevant experience in the financial sector and sufficient trading activity in the past 1 year, and hold at least €500k portfolio value.
A demo account is also offered.
In this article, we tested the EU retail account.
How do you open your account?
Creating an account is much easier and faster than other CFD / Forex brokers:
Enter your basic personal information first (you can create an account here through your social media profiles like Facebook or Google)
Assess your level of understanding about trading and answer some questions here
Verify your identity and place of residence by uploading a copy of your ID card, or passport or driving license, and a copy of recent utility bill or bank statement.
AvaTrade review Kuwait – Deposit fees and options
Here, AvaTrade does not charge any deposit fees. In addition to make a deposit by bank transfer or credit/debit cards users can also use the following electronic wallets:
- POLi for Australians
The minimal amount users can deposit is $100 or 100 units in other base currencies. Although it is stated as $500. Live chat told us that the minimal deposit by bank transfer is likewise $100 (or equivalent).
AvaTrade withdrawal fees and options
AvaTrade does not charge any withdrawal fees. Therefore, you can use the same option for deposit and withdrawal.
Although credit / debit card withdrawals are absolutely free, there is an upper limit to such withdrawals, defined as 200% of what you deposit within a certain period. You will need to use a bank transfer to withdraw more than this amount.
Check here, how long does it take to withdraw money from AvaTrade? We tested the debit card withdrawal and it took 3 working days.
You can only withdraw money in the account in your name.
Check here how to withdraw your money from AvaTrade. You can easily withdraw money from AvaTrade by following some steps:
Log in to your AvaTrade account
- Go to the ‘Withdraw Funds’
- Choose the withdrawal method
- Add the amount you want to withdraw
AvaTrade offers many trading platforms to choose from:
WebTrader, AvaTrade’s trading platform
- MetaTrader 4, a third-party trading platform
- MetaTrader 5, a third-party trading platform
AvaOptions, AvaTrade’s trading platform for CFD options
In this AvaTrade Kuwait review, we tested WebTrader, MetaTrader 4 and AvaOptions as these are the most famous among customers. Our scoring and pro/con listing are based on our WebTrader platform evaluation.
NOTE: ETF CFDs and individual stock CFDs can only be traded on the MT5 platform, not on the MT4 or WebTrader platform.
AvaTrade review Kuwait – Webtrader
Webtrader is only available in several languages: English, Hungarian, Swedish, Thai, Dutch, Indonesian, German, French, Chinese, Spanish, Portuguese, Italian, Polish, Arabic, Mongolian and Russian.
Look and feel
Webtrader is user-friendly and simply designed. Even first timers can easily manage the platform. However it is not customizable; For example, you cannot resize and position tabs
Do reviews by traders influence the AvaTrade rating?
Yes, a good and advanced review can raise or lower the rating of any broker in the general list of brokers. To read or view reviews about AvaTrade, you need to go to the broker’s profile.
Why is it more profitable to work with AvaTrade?
Because traders will receive additional payments from AvaTrade every month, all other functions on their chosen trading platform remain the same.
The broker’s customers also distinguish a low spread and commissions, the speed of order execution, and a wide range of trading platforms. In addition, beginners will appreciate the availability of microlots.