AVAFX Review

As a broker that trades over 1.5 billion trades each month, there’s no question that Ava FX is one of the leading Forex brokers online today. What sets Ava FX apart from other Forex brokers, however, is not only the volume of trades it processes each month, but the site’s intuitive user interface that caters both to both financial professionals and new Forex traders. We tested the trading platform, customer service, ease of use and other elements of Ava FX and reported our findings below.

General Information

Maximum leverage: 1:400

Minimum deposit: $100

Minimum deal size: 5,000/limited by margin

Languages available: English, Arabic, Chinese, Dutch, French, German, Italian, Japanese, Spanish

Trading Platform

The primary trading platform used by Ava FX is called the Ava Trader that gives users the opportunity to trade in FX quickly, using the wildly popular Meta Trader 4 platform. Ava FX also offers a web based trading platform which is cleverly called Ava Java. Live trading accounts on AVAFX can be categorized under Silver account with a minimum deposit of $100, Gold with a minimum deposit of $1,000, and Platinum with a minimum deposit of $10,000. The company’s demo account has all of the features that you will find on Ava’s live platform, which offers an excellent introductory trial.

View of Ava Java trading platform (Click image to enlarge)

Although Ava FX does not currently offer the MetaTrader 5 platform, we did not feel as though this service was lacking, as the company’s MetaTrader 4 platform performs solidly and conveniently provides all necessary Forex trading information. We were pleased, however, to find that Ava FX offers a mobile trading platform with an extremely detailed explanation of how to use it, as well as direct links for platforms catering to traders using different currencies.

In addition to standard web-based trading, Ava FX also offers a mobile trading platform which supports all major mobile platforms. The beauty of this mobile trader is that it is web-based and not run through an app, so that it integrates seamlessly with any mobile device to allow convenient Forex trading anytime, anywhere.

Finally, Ava FX offers an autotrader, aptly called the Ava AutoTrader, which we’ve reviewed separately so that you can decide independently whether these autotraders are right for you.

Features

Ava FX offers an expansive array of features, including full streaming rates, up to the second flowing executable exchange rates 24-hours a day, and a wide range of currency crosses. However, during the course of our Ava FX review, we were equally impressed by the features that the company doesn’t offer, including rollover fees and margin call fees – expenses that we didn’t miss for a moment.

Good, easy to use, charting tools are available on Ava FX. Some of the features included in Ava FX’s charting tool are Trend Lines, Fibo Retracement, Horizontal Lines, and Vertical Lines etc. Though these features may not be sufficient for truly advanced traders, they are more than sufficient for new traders and can truly enhance the trading experience.

We also appreciated that trades are executed with single-click market executions, or with double-click market trading. Similarly useful were the company’s Updated Economic Calendar Analysis and the professional analysis provided on the site that made it possible to make systematic, rational trading decisions.

Finally, we were delighted to see that Ava FX offers bonuses and special offers for new traders such as reduced minimum deposit rates, special bonuses using specified payment methods or cash added to your account upon first deposit.

Customer Service

AvaFX offers multiple forms of customer service, including email support, phone assistance and live chat. We found their phone support to be the most impressive – while we were required to hold once for over five minutes, all of our other phone inquiries were answered extremely quickly. It is important to note that unlike other Forex brokers, Ava FX offers a singular customer service phone number which is based in America, so traders calling from abroad may need to make a long-distance call to get quality support. Still, it is possible to get multi-lingual support at this number, so traders who aren’t native English speakers need not be afraid to call.

Unfortunately, throughout our Ava FX review we found the company’s online chat system to be less reliable than its phone support. We initiated eight different chats with the company and were kept on hold for long periods of time, sometimes up to 12 minutes, before receiving a response. The wait nothwithstanding, we found the Ava FX chat support team to be knowledgeable and friendly. Like their phone support, Ava FX's chat support is available in nearly every language.

Ava FX Chat (Click image to enlarge)

Ava FX’s email support team took 17 hours and 55 minutes to respond to our initial request, but when we responded to the email response, we were delighted to see that Ava FX’s team responded significantly faster.

Customer Service Email (click to enlarge)

Lastly, it’s worth mentioning that Ava FX offers very useful online tutorials and a robust education center which makes it possible for users to seek answers to their questions independently. Although the information provided is more than adequate, the only thing missing is a search feature on the site, which would help streamline the process considerably.
Ease of Use

Of all the Forex brokers and trading platforms that we tested, we found Ava FX to be one of the easiest to use. One thing that sets Ava FX apart from other Forex sites is that it offers a clearly-designated guided tour, which is a video with audio, clearly explaining how to use the site. Traders who don’t want to site through the guided tour can take a ‘virtual tour’ through which they can select topics and watch topic-specific tutorials at their convenience.

Even a cursory look at the Ava FX website should make users feel instantly comfortable. Unlike other top Forex brokers such as Markets.com or eToro, Ava FX’s homepage is uncluttered and offers a clear navigation which makes it easy for visitors to find their way on the site. Equally impressive are the company’s trading platforms which are clearly delineated and not overly complicated, making it easy for both new traders and Forex experts to keep their thoughts organized.

Although Forex is a relatively complicated industry, we found that Ava FX makes a supreme effort to keep their site and their tools organized and simplified while offering contemporary technology and analysis so that all types of traders can thoroughly enjoy the experience.

How do Forex Automated Systems Work?

By: Christopher Lewis
If you are going to trade Forex, sooner or later you will hear about automated Forex systems. They are also called “robots”, “expert advisors”, and “auto traders”. No matter what you call them, they all operate in a similar manner. While the exact technical set ups will vary from system to system, the operation of them will essentially be the same.
You will download and install the system to your Forex trading platform, and set up should only be a couple of steps. The basic premise of these things is that they are essentially an “add on” to your trading platform. This allows for easy installation, and uninstalling is just as simple. Because of this, many traders will actually have several different systems that they use in a variety of market environments.
The systems will fall into two basic categories: automatic and semi-automatic. The automatic ones will place trades for you, without any input from you at all. The semi-automatic ones will simply give you a signal or suggestion as to which way to trade a particular currency pair.
The automatic one will simply buy or sell based upon a sometimes complex mathematical formula that tells the computer when it is time to enter or exit the trade. The automated system simply does all of the work for you. It is very common for these systems to have a hidden proprietary algorithm that you never see in order to make these decisions. The one thing they will all have in common is that they are all mathematically based. Hiding the algorithm is just a simple way of protecting their intellectual property.
The semi-automatic system offered by Forex automatedtraders will simply let you know when it gets a signal to buy or sell. The system will still have that hidden algorithm that you won’t see, but instead of placing the trade you will often see some kind of pop up alert when it is time to trade. You can then choose as to whether or not you want to trade the signal, allowing greater flexibility for the trader.
The majority of these systems are made for the MetaTrader 4 platform as it is by far the most popular one out there. There are systems made for other platforms such as GFT’s DealBook 360, NinjaTrader, TradeStation, and many others. However, you will find an almost unending supply of them for the MT4 platform as even the brokers that use other platforms will often offer MT4 as well.
The better Forex automated systems will come with a money back guarantee, normally through some kind of ClickBank vendor account. Because of this you should be able to feel somewhat comfortable with the software as your money can be refunded. However, it is recommended that you try a new system out on a demo account just to make sure it performs up to your standards. Like anything else, there will be some that are better than others and your mileage may vary so to speak

Forex Week in Review - Ocotober 10, 2011

By: Dr. Mike Campbell

Last week, with the exception of the Nikkei, the world’s major markets managed to regain some ground. In Europe over the course of the week, the FTSE made 3.4% and closed at 5303.4; the Dax made 3.2% to close at 5675.7; the CAC climbed by 3.8% to end the session at 3095.6.
The Dow ended the week up by 1.7% at 11103.1. The Nasdaq ended the week higher by 2.7%, to close at 2479.4.
The Nikkei was the only one of the major exchanges to fall last week. It weakened over the course of the week, shedding 1.1% to end the trading session at 8605.6.

Currency Markets Review
On the currency markets last week, the Yen had the best of the trading again. The Dollar was stronger against Sterling, making 0.3% and closing at 1.55342 to the Pound. The Greenback made ground against the Euro last week, making 0.51% to close at 1.3434. The Dollar lost ground against the Japanese currency, closing at 76.686 to the Yen, a fall of 0.23% on the week.
The Euro closed down against the Yen ending at 103.02, losing 0.74% over the course of the week. The Euro also was down against Sterling over the course of the week by 0.21%; the close saw one £ buying 1.15634. There has been no concrete sign of the measures promised by the Japanese to ensure that the rise of the Yen is arrested.

Commodities Market Review
On the commodities market, the price for Brent crude ended higher, closing at $105.88 per barrel (for November delivery); a rise of 3% over the course of the week’s trading. The value of gold rose last week, closing at $1652 per ounce, representing a gain of 2% over last week’s value

Very bullish, GBP/USD on the Strong Side

By: Doug Rosen
My analysis for the EUR/GBP resulted in GBP strength and my analysis on the USD/CHF resulted in USD weakness for today only for reasons of imminent pull backs to the daily 5 ema so I start out my bias as bullish for this pair. As I start my analysis today going straight to the daily chart I see that the 5 ema is kissing the 13 and it looks as though it may very well cross the 13 ema. Stochastics has risen out of the oversold zone and has crossed upward.

Moving over to the 4 hour chart I see that price has been riding the 5 ema gracefully to the upside and the upper Bollinger Band is pointing straight up. We are above the monthly central pivot point, however, I think a pullback to the monthly central which overlaps with the 4 hour 5 could be a great spot to take a long.

Moving over to the hourly chart I see that it confirms the bullishness I have observed on the 4 hour chart. A pullback to the hourly 21 ema would be an excellent level to enter a long.

Moving over to the 15 minute chart I see that the 21 ema has been in control and that price is bouncing off the daily M4. The 5 ma is trying to cross below the 13 ema but that does not change my bullish bias for this pair. I want to see a pullback occur so that I can enter a long. A pullback down to 1.5580 would coincide with the 15 minute 55 ema overlapped with the lower Bollinger Band I see that would be an excellent area to look for a long

German-French Meeting Offers Hope, Gives Euro a Boost

The common currency edged higher in Asian trading today following news from Germany and France that policymakers there will provide a new and comprehensive plan which will shore up under-capitalized Eurozone banks. In a meeting between France’s Nicolas Sarkozy and Germany’s Angela Merkel, the two discussed not only how best to recapitalize the Eurozone banks but how to move forward on the debt crisis in Greece and grow the Eurozone economy. In spite of the pledge by the two heads, markets remain wary as disappointments have been frequent. If details are released from the German-French meeting, the Euro could get a much needed boost, as markets have been concerned with the absence of concrete data out of any recent meetings.
As reported at 12:41 p.m. (JST) in Tokyo, the Euro rose 0.5% against the U.S. Dollar, trading at $1.3451 and of the 9-month trough of $1.3145 struck last week on the EBS trading platform. Analysts say that the Euro gained traction after it broke through $1.3423, an hourly resistance level. Resistance is still seen near $1.3483, however.
With the news, there was some renewed interest in higher risk currencies, with the Australian Dollar pushing 0.5% higher against the greenback, trading at $0.9813 and pulled off the 1-year trough of $0.9388 struck last week.