AvaTrade Philippines Review
AvaTrade is a leading online broker that offers a wide range of trading instruments, including forex, stocks, commodities, indices, and cryptocurrencies. The Central Bank of Ireland regulates AvaTrade, and it is also a member of the Investment Industry Regulatory Organization of Canada (IIROC). AvaTrade Philippines provides a secure and reliable trading environment with competitive spreads, low commissions, and a wide range of trading tools and features. AvaTrade Philippines Review will provide an in-depth look at its features, fees, customer service, and more.
How to Get Started with AvaTrade Philippines
To start with AvaTrade Philippines, you need to open an account. You can easily do this online. After opening the account, you will have to deposit an initial amount via bank transfer, credit card, or other payment methods.
Once you have funded your account, you can start trading. AvaTrade Philippines provides a variety of trading platforms, including MetaTrader 4 and 5. These platforms offer users access to a wide range of markets and instruments, along with advanced charting and analysis tools.
AvaTrade Philippines also provides educational resources such as webinars, tutorials, and e-books to help users learn about trading and investing. Additionally, AvaTrade Philippines offers customer support services via live chat, email, telephone, and a comprehensive FAQ section.
By following these steps, you can begin trading and investing in the financial markets with AvaTrade Philippines.
Account Types
AvaTrade Philippines offers a wide range of account types to suit the needs of different traders. The available accounts are:
- Standard Account
This is the most basic account type and is suitable for beginner traders. It offers competitive spreads and leverage of up to 1:400.
- Professional Account
This account is designed for experienced traders who need higher levels of leverage and tighter spreads. It provides leverage of up to 1:400 and spreads as low as 0.1 pips.
- Islamic Account
Designed for traders who follow the Islamic faith and require a Sharia-compliant trading environment. It offers the same features as the Standard and Professional accounts but with no interest charges.
- Demo Account
It offers a virtual trading environment with real-time market data and a virtual balance of $10,000 for traders who want to practice their trading strategies without risking real money.
- Managed Account
Made for traders who want to have their funds managed by a professional trader. This account type offers a range of services, including portfolio management, risk management, and market analysis.
AvaTrade Philippines offers a secure and reliable trading environment with competitive spreads and leverage for all account types you choose.
Fees and Commissions
AvaTrade Philippines provides its clients with competitive fees and commissions. The fees and commissions are dependent on the type of account and the instrument being traded.
- Forex: no commission | spreads from 0.9 pips
- CFDs: 0.04% commission of the total trade value | a minimum fee of $4
- Stocks: no commission | spreads from 0.1%
- ETFs: 0.1% commission of the total trade value | $4 minimum fee
- Commodities: no commission | spreads from 0.1%
- Indices: 0.04% commission | $4 minimum fee
Additionally, AvaTrade Philippines charges an inactivity fee of $50 per month for accounts that have been inactive for more than three months.
Overall, traders looking to trade in the Philippines can find AvaTrade Philippines an attractive option as it provides competitive fees and commissions.
Deposit & Withdrawal Options
AvaTrade Philippines offers a variety of deposit and withdrawal options for its clients.
Deposit Options:
- Bank Transfers – are the most popular deposit method and are usually processed within 1-2 business days.
- Credit/Debit Cards – usually processed within 24 hours.
- E-wallets – Skrill, Neteller, and WebMoney are accepted and are usually processed instantly.
Withdrawals can be done in the same way how you made your deposit and the processing time is the same as well.
All deposits and withdrawals are protected by the latest encryption technology and are processed quickly and securely.
Trading Platforms
AvaTrade offers a wide range of trading platforms to cater to the different needs and preferences of traders.
- AvaTrade WebTrader
– a web-based platform that does not require any downloads or installations. The platform is user-friendly and can be accessed from any browser and device. It offers advanced trading tools, charting, and analysis tools, and allows traders to monitor their positions and orders in real-time.
- AvaOptions
– a sophisticated platform for trading options. It offers a range of options strategies, including vanilla options, straddles, strangles, and more. The platform is customizable, and traders can tailor the platform to their preferences.
- AvaTradeGo
– a mobile trading platform that allows traders to trade on the go. The platform is available on both iOS and Android devices and offers advanced charting and analysis tools, real-time market data, and price alerts.
- MetaTrader 4 & 5
– are popular trading platforms among traders. They offer advanced charting and analysis tools, a wide range of indicators and expert advisors, and customizable trading interfaces.
AvaTrade also offers automated trading platforms, including AvaSocial, DupliTrade, and Capitalise.ai.
- AvaSocial
– a social trading platform that allows traders to follow and copy the trades of other successful traders.
- DupliTrade
– an automated trading platform that allows traders to copy the trades of experienced traders.
- Capitalise.ai
– an AI-powered platform that allows traders to create their own automated trading strategies without any coding skills.
AvaTrade caters to the needs of all types of traders, from beginners to advanced traders, by offering a range of trading platforms. The platforms are user-friendly and customizable, and they offer advanced trading tools and features.
Customer Support Services
AvaTrade Philippines offers a variety of customer support services to ensure that clients receive the best possible service. These services include:
1. Live Chat: AvaTrade Philippines offer a live chat service that enables clients to communicate with them in real-time. Clients can use this service 24/7 and it is the fastest means of seeking assistance for any concerns or inquiries.
2. Phone Support: This allows clients to speak directly with customer service representatives. This service is available from Monday to Friday, 8 am to 5 pm.
3. Email Support: Clients can also contact AvaTrade Philippines via email. This service is available 24/7 and is the best way to get assistance with more complex queries or issues.
4. Online Support: The online support service allows clients to access a range of helpful resources such as FAQs, tutorials, and more. This service is available 24/7 and is the best way to get assistance with more general queries or issues.
Pros & Cons
Pros
1. Security: The Philippine Securities and Exchange Commission (SEC) regulates AvaTrade Philippines, ensuring the security of all transactions and the protection of clients’ funds.
2. Variety of Trading Platforms: Offers a variety of trading platforms, including the popular MetaTrader 4 and 5, as well as its own proprietary platform, AvaTradeGo. This allows traders to choose the platform that best suits their needs.
3. Low Fees: Offers competitive spreads and low fees, making it an attractive option for traders.
4. Education and Support: Provides educational resources and support to help traders learn the basics of trading and develop their skills.
Cons
1. Limited Asset Selection: Has a limited selection of assets, which may not be suitable for all traders.
2. Limited Leverage: Offers limited leverage, which may not be suitable for traders who are looking to take on more risk.
3. Limited Customer Support: Limited customer support, may not be suitable for traders who need more assistance.
Is AvaTrade a Legitimate Forex Broker in the Philippines?
The Securities and Exchange Commission (SEC) of the Philippines regulates AvaTrade, a legitimate Forex broker in the Philippines. Additionally, it is a member of the Philippine Investor Protection Fund (PIPF) and the Financial Commission, an independent dispute resolution organization.
AvaTrade offers a variety of trading instruments, such as Forex, CFDs, stocks, indices, commodities, and cryptocurrencies, and provides several trading platforms, including MetaTrader 4 & 5, AvaTradeGo, and AvaOptions.
Furthermore, AvaTrade offers educational resources such as webinars, tutorials, and eBooks. The broker is committed to ensuring the safety of its client’s funds and has implemented measures such as segregated accounts, negative balance protection, and advanced encryption technology.
Overall, AvaTrade provides a secure trading environment and a wide range of trading instruments and platforms as a legitimate Forex broker in the Philippines.
Conclusion
Those looking to trade in the Philippines can choose AvaTrade Philippines, which provides a wide range of trading options, competitive spreads, and a secure trading environment. The company also offers excellent customer service, with a team of knowledgeable and friendly staff available to assist with any queries. Overall, AvaTrade Philippines is a great option for traders in the Philippines.
Check out our reviews of other recommended forex brokers in the Philippines.
easyMarkets Philippines | Exness Philippines Review | FBS in the Philippines Review