AVAFX

Overview

AVA FX is a broker based out of Cyprus, and they provide at no charge a trading platform which is called AVA Trader. It is downloadable from their website at www.avafx.org, and the website below gives some details of their offering and the current bonus offer.

There are conditions to the bonus of up to $1200, as it depends on how much you fund your account with and your trading volume. The software platform is actually powered by ActForex.

Opening an Account

To open an account with AVA FX, you must register first on a screen like this –

For a demo account, little information is required. You select a username and password, and give them your phone number, then you are granted access to download the software.

The installation is straightforward, with the customary dialog boxes. When you first run the software, a welcome screen shows you the features of the program.

If you decide to open a live account, you simply click the tab, Open Real Trading Account, which you can see in the above screenshot, and fill in your details. They accept funds by many different means, including Paypal and by credit card transfer.

Basic Trading

Placing a trade with AVA FX is simple. In the following screenshot, you can see the dialog box for your order, which pops up when you press the red Sell arrow you can see at the top left –

Buying is just as simple. I didn’t like the fact that you have to find the required currency pair from the dropdown box – I prefer the software to automatically enter the pair that you have on the chart, as this prevents mistakes. However, you can also trade by clicking on the currency boxes, and this is foolproof.

Pros v. Cons.

• √ Easy to use.
• √ No extra fees.
• √ Comprehensive trading tools available.
• √ AVA FX provide 24 hour online and phone support.
• x Some reports of difficulties logging in.
• x Some reports that AVA FX are slow awarding the earned bonuses.
• x Complaints that withdrawals from AVA FX can take a time.

Summary

AVA FX is Cyprus based, and claims to be regulated by the IFSRA, the Irish Financial Services Regulatory Authority. Some traders prefer to use brokers that come under the laws of their domicile, to make the resolution of any problems easier. However, with the facility of the Internet, increasingly companies are choosing to operate from countries that allow them better tax and other conditions, so this is not unusual. It appears that the complaints may be isolated incidents.

The platform is easy to use, and supports 15 languages. AVA FX seem to be working hard to provide all the help and facilities that a regular Forex trader could require. Worth a look.

• Price: Free.
• Ease-of-use: 4.9/5.
• Value for money: 4.5/5.