As we know, trading is now getting more popular. As more average investors enter the stock market, they begin to trade different forms of stocks and futures such as ETFs, options, and CFDs. Nevertheless, CFD trading is one of the most infamously difficult sectors to locate a good trading platform for. Importantly, the choice of CFD trading platform is far more essential than could be expected. Some trading platforms provide benefits for CFD choices that others do not, essentially providing you with more selection or superior CFD products. However, others may have superior user interfaces or differing legal jurisdictions based on their country of origin. Therefore, today we will examine ‘Awonar’, one of the best CFD trading platforms in 2023.
List of Contents
Overview of Awonar: Website
Investing in the stocks of firms based in other countries may help traders diversify their holdings, protect against potential losses, and gain exposure to economic development in regions other than their own. However, most international stocks require only their citizens to invest. Therefore, is not it preferable if you could trade stocks, or other instruments from all around the world with a few clicks? Regarding social trading platforms, Awonar is at the forefront of its field. This is because it allows users to trade CFDs on various underlying assets, including currencies, cryptocurrencies, commodities, international stocks, and ETFs.
Awonar is a social trading platform established in 2019. Significantly, Awonar Group Limited operates it. It is licensed as a broker in Saint Vincent and has headquarters in Cyprus and Saint Vincent. Awonar’s register registration number in Saint Vincent is 26740 BC 2022. Its registration number in Cyprus is ΗΕ 436564.
Awonar’s user- and trader-friendly design makes it an excellent fit for traders of all skill levels. In addition, using this CFD trading platform may avoid fees that some platform still demand. Moreover, you would not have to deal with a complicated interface, or poor customer service. Compared to its competitors, Awonar’s many benefits include excellent customer service, reasonable fees, a wealth of data, and the opportunity to purchase stocks in fractional quantities. Given their breadth of services, you may want to enhance your connection with Awonar as your wealth grows.
Account Types of Awonar
There are two types of accounts available on Awonar: Real and Demo.
The first type of account is a ‘Real’ account, where traders may trade instruments using their actual money and profit from tighter spreads than the market generally offers. In addition, Awonar covers the fees associated with trading. This is beneficial for traders since they would not have to fork out a ton of money in fees with each trade.
The second is a ‘Demo’ account, where traders may hone their skills without jeopardizing their own money. However, traders should be aware that this is only a representation of a real account and that, as such, it cannot generate profits. In addition, new Awonar investors may get $50 in trading credit when they switch their account to a ‘Credit’ account as part of a particular campaign. It is not clear that Awonar only provides two distinct account alternatives. Although those options are not plentiful, on the other hand, investors benefit since they no longer have to focus on the specifics of each account.
Deposit & Withdrawal
Awonar offers a great variety of deposit and withdrawal options which are fast, easy, and inexpensive such as credit/debit cards, banks, and alternative payment accounts.
Awonar charges less than $5 for deposits and withdrawals made with credit/debit cards and electronic wallets, depending on the country of users and the bank. Moreover, traders can use a digital wallet like Paypal and bank transfers to deposit and withdraw funds in Awonar.
Products of Awonar
Awonar is primarily a CFD broker. There are various instruments that you can trade as follows;
- Currencies
- Stocks,
- ETFs
- Commodities
- Cryptocurrencies
- Indices
Stock CFDs typically include the largest companies listed on various markets. In terms of cryptos, you can trade more than hundred products such as Bitcoin, Ethereum, Litecoin, and Ripple on Awonar.
Trading Platform
Awonar has conducted its trading platform named ‘Awonar’, same as its name. The outstanding feature of this platform is social trading. This feature enables traders to copy trading from renowned traders. Therefore, it is very useful for the new traders because they did not have any trading experience. Moreover, this platform can be used in iOS and Android applications. Importantly, traders can download it without charge.
Fees
For Awonar, there are no fees for trading, and social trade features can be used without charge. However, there are still some fees for the features as follows.
- Deposit and withdrawal fees are charged depending on the trader’s country (up to $5).
- Overnight fees for holding orders across the day. However, it is still very cheap when compared to other platforms.
Promotions
1. Offer $50 For New Customers
Awonar offers an extra $50 for new customers which we considered to be above average while most brokers or trading platforms tend to offer bonuses ranging from $10 – $30. For this reason, Awonar offers more opportunities for new customers to invest and get more experiences from trading on their platform with less amount of funds that traders must deposit.
2. Free Social Trade Feature
Awonar also provides a free Social Trade function that allows users to view the statistics and information of other successful traders. This tool allows other users to imitate successful traders’ trading style and strategy at no additional cost.
How to trade on Awonar
- Login, or create an account at Awonar.
- Click on the ‘Market’ button, and the available instruments will be shown in this page.
- Select on needed instruments, then click ‘Trade’ button.
- Select ‘BUY’, or ‘SELL’ order.
- Enter the amount that you need to invest. Then, set the leverage level, stop loss and take profit.
- Select an ‘Open order’ button.
- Your order will be shown on ‘Portfolio’ page.
Customer Service
- Live chat is available 24/7.
- Email notification of important events is noticed all the time.
Pros
- No trading fee
- No social trading fee
- Offering $50 bonus for beginners
- Offering high-amount of underlying assets
Cons
- Live chat supports only the English language
- Since the products are underlying assets, traders don’t get to own actual assets
- The number of assets may not be as much as the actual stock exchange
Conclusion
In short, Awonar is one of the best CFD trading platforms enabling its traders to trade various of CFDs. Importantly, it develops its trading platform which traders can use it via pc and also mobile phone. Moreover, it has bonus for the beginner in the first time of trading. However, there are still another good CFD trading platforms enabling you to easily trade. You should deeply consider its features before starting the trading with them because every investments have risks.
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