Review of Forex Broker: AvaFX

Company Background

Ava Forex has its Headquarters in Tortola, British Virgin Islands with offices in Niscosia, Cyprus. They have been in business since 2006 and their broker capital is unknown because their balance sheets are not published. Typically for any credibility the broker capital should be over 70 million USD. They are not regulated but are audited by Ernst & Young with any disputes handled by BVI judicial system.

Dealing Desk/No Dealing Desk

AvaFX is not a dealing deak which means they don’t use Market Makes who trade against you making more money from the spreads.

Trading Platform

Trading is carried out through a downloadable MT4 platform.

Commissions

They offer 3 PIP fixed spreads with no guarantee of stop-loss trades being executed.

Accounts

Leverage offered is 1:200 with a minimum deposit of 100 USD. AVAFx has a minimum deposit of $100 USD which is greater than sum of the mini account out there but still withing reach of most traders. As mentioned in other parts of this site, we generally recommend traders opt for demo accounts to gain skills and experience instead of using $25 mini accounts for this purpose.

Funding Options

Depositing and withdrawing money is easy because they offer multiple deposit and withdrawal facilities that include some of the most popular online payment processors including money bookers and Paypal.

There is no deposit or withdrawal fee except when using wire transfer for which there is a deposit fee of 10 USD and withdrawal fee of 20 USD. Ava also offers their own international debit card from Payoneer, which makes withdrawing and depositing money easier.

Tools

AVAFx does a good job offering trading and training tools with each account. Free to AVAFx user are

Trades are executed at the best possible price. Scalping is not allowed though fast trading is permissible though it is not determined on the site how long one must hold the trade for to avoid it being described as ‘scalping’.

Customer Service

AvaFX offers 24/7 trading and customer service. Service is provided by phone, email or live chat. Their site lists 30 international telephone numbers for 30 different countries on five continents.