AvaTrade Broker Review

AvaTrade is a licensed broker in South Africa offering over 250 financial instruments including Forex, commodities, cryptocurrencies, stocks and indices trading.

AvaTrade was started in 2006 and is a leading, award-winning Forex broker.

AvaTrade is regulated on five continents, with 200,000 Forex traders on their platform. 

They are licensed with regulators in South Africa, the EU, Japan, Australia and the British Virgin Islands.

Their dedication to customer service is definitely felt in the trading journey from opening a demo account to trading live and later withdrawing profits. 

Their easy to use mobile app, AvaTradeGO, is innovative and feature-rich allowing you to trade in real-time having everything you need at your fingertips. 

 

Overview of AvaTrade

Time to open an account Immediate account opening, 1 day for verification
Bonus Up to $10.000 bonus
Publicly traded – listed on the stock exchange No
Country of regulation  Ireland, Australia, Japan, South Africa, Abu Dhabi, British Virgin Islands  
Trust score 97
Platforms MetaTrader 4, MetaTrader 5, AvaOptions
Mobile App  iPhone, iPad, Android 
Copy Trading  Yes
Islamic account Yes
Demo account Yes 
Base currencies ZAR, USD, EUR, GBP, CHF, AUD
Ave spread EUR/USD From 0.9 pips
Leverage  Up to 400:1
Trading fees (low, average, high) Low 
Minimum deposit $100
Withdrawal fee 0
Currency pairs  60
Cryptocurrency trading  Yes 
Deposit with electronic wallet  Yes

 

AvaTrade Pros and Cons  

✔️Pros ❌Cons
Low trading fees  Telephonic support is not up to par
No deposit and withdrawal fees Inactivity fee 
Quick account opening  Only Forex, CFDs and cryptocurrencies 
Demo account
Excellent educational info  
Solid automated trading functionality   
Innovative tech and platform features

 

Regulations

AvaTrade is a broker with one of the strongest regulations in the market regulated by 5 different jurisdictions including: 

  1. Central Bank of Ireland
  2. B.V.I Financial Services Commission on the British Virgin Islands
  3. Australian Securities and Investments Commission (ASIC)
  4. The Financial Sector Conduct Authority (FSCA) in South Africa
  5. The Japanese Financial Services Agency (FSA) 
  6. The Financial Futures Association of Japan (FFAJ)

With over 200 000 Forex traders making over 2 Million trades a day, AvaTrade is considered a reliable and trusted broker.

In addition, they pioneered many industry firsts including launching CFDs on commodities, indices and stocks, and cryptocurrency trading. 

 

Leverage

The leverage you get from AvaTrade depends on the financial instrument chosen and also on the platform you use to trade.

 You can get leverage up to 400:1 on MetaTrader 4 and MetaTrader 5 platforms, as well as for gold, however crude oil and silver are limited to 200:1 leverage.  

As with any other broker, you must make sure you have enough funds in your account to cover any possible losses, otherwise, the broker will shut down your positions (margin call). 

For retail traders (individual traders) AvaTrade requires a minimum 50% equity of your used margin in your account for MetaTrader 4 and the AvaOptions account. 

 

AvaTrade Account Types

AvaTrade is accepted in Australia, South Africa, Thailand, Canada, Singapore, United Kingdom, France, Denmark, Germany, Norway, Sweden, Italy, UAE, Saudi Arabia, Kuwait, Luxembourg, Qatar and many other countries.

According to this AvaTrade review, the broker cannot be used by Forex traders in the U.S., Belgium, Zimbabwe, Iraq, Iran, Pakistan and India. 

 

AvaTrade Individual retail trader accounts:

  1. Standard Account – operated by an individual
  2. Demo Account – for anyone wishing to trial AvaTrade’s platforms and services 
  3. Islamic Account – swap-free account according to Sharia Principle of interest-free trading

AvaTrade Professional Traders accounts:

Professional traders can open a MAM account to manage different client accounts. AvaTrade provides excellent conditions on their MAM accounts:

  • Creation of multiple sub trading groups 
  • EA compatible 
  • Minimum lot size of 1.01 lots
  • All MT4 order types are available
  • Place orders for unlimited client accounts

 

Market Instruments

AvaTrade has a range of instruments that can be traded through top platforms with great trading conditions. 

You will be able to trade Forex, stocks, commodities, indices, ETFs, bonds and cryptocurrencies with AvaTrade. 

They also provide traders access to Forex Options and Options in gold with a sophisticated options trading experience. 

AvaTrade offers:

  • Excellent spreads 
  • Automated trading platforms 
  • Segregated accounts for clients 
  • Support in more than 20 languages

 

Fee Structure

You can open an AvaTrade account with a min of $100 to begin day trading or according to any other Forex trading strategy

Their fees are competitive and like their peers’ withdrawals are free, however, account inactivity does incur a $50 fee after three months of inactivity and $100 for a year. 

 

Deposits and Withdrawals

You can deposit and withdraw at AvaTrade through multiple banking options including credit and debit cards, numerous e-Wallets and wire transfers.

Alternatively, you can use a demo account for free until you are ready to live trade when you will need to deposit $100 before making any trades. 

According to AvaTrade withdrawals take up to five days to process, and the AvaTrade Mastercard has the fastest withdrawal times currently. 

Wire transfers can also take up to 10 days to be processed which can be frustrating. 

As is required by regulatory bodies, AvaTrade makes sure you have a robust and secure method of depositing and withdrawing. Therefore, the broker has to verify the identity of all its traders and ensure the integrity of its trading community. 

When funding or withdrawing from your account, you can choose from these base currencies: ZAR, USD, GBP, EUR, AUD and CHF. Only Australian clients can use the AUD and UK clients the GBP. 

AvaTrade does not charge you any fees for withdrawing funds from your account. 

 

Trading Platforms

AvaTrade has an excellent range of platforms:

  • MetaTrader 4 – a popular trading platform 
  • MetaTrader 5 – the latest trading platform with more tools  
  • Web Trading – no need to download the software trade from your browser
  • AvaTradeGO – app for mobile trading 
  • MetaTrader 4 Mobile app 
  • Automated Trading – including RoboX, Mirror Trader, MQL5 Signal Service, API Trad
  • Mac Trading web or download

 

How to Open an AvaTrade Account 

Setting up an account on AvaTrade involves the following steps: 

  1. Fill in your personal details
  2. Answer questions about trading to assess your level of understanding
  3. Upload your identity document (ID, license or passport) and proof of residence 
  4. Voila you are done

 

Customer Support 

AvaTrade can be contacted via live chat on their website or you can email and phone them. They are pretty efficient on live chat and email, but you may wait a while to speak to someone on the telephone.

Support staff are very active on social channels so you may want to drop them a message there if you are struggling to get a response over the phone. 

 

Educational Resources

This is where AvaTrade really stands out, they go out of their way to provide as much Forex education as possible. 

You get access to a multitude of basic trading guides, tutorial videos and educational articles. And the best is you do not have to be a client to watch their education materials. 

AvaTrade also has a wealth of trading tools including an economic calendar, market analysis, charting tools and more which are only available once you become an AvaTrade client. 

Whether you are a beginner or a more experienced trader, AvaTrade has the information and tools you need to become a better, more informed Forex trader.

 

Research Tools

AvaTrade provides the analysis tool Autochartist on MetaTrader.

Autochartist provides a wealth of analysis including technical, statistical, macro-economic, and fundamental analysis which you get in MetaTrader through AvaTrade.  

The Autochartist analysis caters particularly for different types of traders from trend traders, mean-reversion traders, swing traders, news traders to value investors.

AvaTrade also provides its own trading position calculator which helps you calculate the risks associated with your next trader before you make any moves.  

 

Accolades

AvaTrade has garnered numerous awards and honours in the market throughout its 14 years in business:

  • 2017–2020 – Awarded No. 1 Broker, Best Forex Broker, Best Bitcoin CFD Trading Provider of the year and Best Affiliate programme by The European
  • 2019 – Awarded Best Forex Broker by Daytrading
  • 2019 – Most Innovative CFD broker, UK by International Business Magazine
  • 2019 – Best Forex broker, Portugal awarded by Rankia 
  • 2018 – Best Trading Experience awarded by FXdailyinfo.com
  • 2017 – Best Affiliate Programme awarded by FXdailyinfo.com 
  • 2018–2008 – Best Financial Derivative Trading Provider, Best Affiliate Programme and Best Alert System by Arabcomgroup – AG
  • 2017-2014 – Best Affiliate Programme and Best Dealing Room by the JFEX Awards
  • 2017 – 2011 – Best Forex Broker and Best Broker; Most Reliable, and Best Trading Experience by FXEmpire
  • 2016 – Best Trade Execution, awarded by African Expo Financial Awards
  • 2015 – Best Forex Broker by Grand Prix De La Confiance 
  • 2015 – Best Forex Broker by Forextraders
  • 2013 – Most Innovative Forex Broker in Europe from the Global Banking & Financial Review
  • 2012 – Best FX Affiliate Programme from Forex Magnates.
  • 2011 – Excellence Award Forex from IBTimes Trading Awards
  • 2011 – Best Execution Broker in Western Europe
  • 2011 – Best Trading Platform Globally from World Finance: Exchanges and Brokers
  • 2010 – Best Forex Broker from the World Finance Foreign Exchange Awards
  • 2009 – Best Alert System from Money Summit, and Best Customer Support from Daily Forex

 

Conclusion 

AvaTrade has strong regulation across six jurisdictions and is considered to be a safe broker with a strong track-record in the Forex market.

Although their range is limited to Forex, CFDs and cryptocurrencies AvaTrade has excellent trade executions with low spreads and trading fees.