This AvaTrade review explores a strictly regulated and highly reputable broker. With several entities in multiple countries, AvaTrade can provide its services to traders across the world, making them a truly global online forex broker.
AvaTrade provides you with a wide range of tradable assets, including a relatively unique offering of forex options. If you want to expand your trading to other financial instruments, this broker is an outstanding choice.
They are also an excellent option for beginner traders thanks to the vast array of educational materials they offer, which includes a dedicated Academy.
AvaTrade is also a good choice for veteran traders. They offer special accounts with higher leverage for professionals, as well as a slew of tools to make trading easier.
Keep reading our in-depth AvaTrade review to learn more about how you can trade with this great broker.
- Extensive range of tradable financial instruments
- Attractive spreads
- Highly regulated in multiple jurisdictions
- Low minimum deposit
- Excellent bonuses for clients from certain countries
- Doesn’t accept clients from the United States
Founded in 2006, AvaTrade was one of the first major brokerage firms in the retail forex and CFD sector. They have since grown to encompass several corporate entities in Ireland, Australia, Japan, South Africa, and the British Virgin Islands. They also have offices in Italy, Spain, Mongolia, China, Nigeria, and Chile.
Our review of AvaTrade forex broker showed that this a highly regulated company with a great reputation. They are dedicated to offering all traders an outstanding experience, whether you are a beginner or a professional.
This broker serves over 200,000 customers all over the world. They claim to execute more than two million trades every month with a total value of over $60 billion.
This broker has also won an impressive number of awards over the years, including Best Forex Broker 2019, Most Innovative Broker CFD Broker in the UK, Top 10 Brokers in China, Best Trading Experience, and the Best Trade Execution at the Africa Expo Financial Awards.
Note that this broker does not accept clients from the United States.
AvaTrade regulation and licensing
AvaTrade comprises five corporate branches in as many countries, with each branch regulated by the appropriate authority. This broker is registered with the following regulatory bodies:
- Central Bank of Ireland under reference number C53877
- Australian Securities & Investments Commission under license number 406684
- Financial Services Agency of Japan under no. 1662 and the FFAJ under no. 1574
- Financial Sector Conduct Authority of South Africa under license no. 45984
- Financial Services Commission of the British Virgin Islands
Our AvaTrade broker review team has concluded that this broker is regulated by some of the toughest authorities in the industry. AvaTrade is a broker you can’t go wrong with in terms of regulatory compliance.
Regarding client protection, AvaTrade segregates all client funds from their operating funds. This ensures that if the firm were to become insolvent, your funds couldn’t be used to pay off company debts.
European clients also enjoy an added level of protection thanks to the Investor Compensation Fund. If AvaTrade is ever unable to cover their financial obligations to you, no matter how unlikely, this fund covers you up to €20,000.
All AvaTrade customers also enjoy negative balance protection. This means that this broker fully and voluntarily bears any tail risk caused by unusual and/or extreme market movements.
Opening an account with AvaTrade
Our AvaTrade review team found that opening an account with this forex broker is a quick and easy process. The minimum deposit requirements are very achievable, and the document requests are standard and in line with industry regulations.
It is worth noting that the process and requirements are subject to change based on which country you are registering an account from.
What is the minimum deposit at AvaTrade?
During our Avatrade forex broker review, we investigated what the minimum deposit requirement was to open the various trading accounts available.
For a standard trading account, the minimum initial deposit is $100, or your currency equivalent. Australian clients must deposit in AUD and UK clients must deposit in GBP. EU traders can open a EUR account, whilst international clients are restricted to a USD account.
How to open an account at AvaTrade
Our review of AvaTrade forex broker’s account opening process shows that it is fully digital and can be completed by following a couple of simple steps. It takes a matter of seconds to initially create an account, while document verification will be completed within 1 business day. You can check on the status of your pending documents from the ‘My Account’ page on the AvaTrade website to see if they have been approved.
To open a standard account with AvaTrade the steps are as follows:
- Step 1: Fill in your first name, last name, email address, and phone number. You also can supply a partner code should you have one, and opt-in for promotional material.
- Step 2: Provide additional personal details including your date of birth, address, national identification number, and passport number.
- Step 3: Submit details about your personal trading experience and understanding. You’ll be asked how many times you have traded on margin in the past year and the average volume of those trades. You will also be given a three-question quiz to test your trading knowledge.
- Step 4: Create a password.
- Step 5: Select your preferred trading platform (MetaTrader 4 or AvaOptions) and your base currency. Note: Not all currency types are available based on country of residence.
- Step 6: Provide employment and capital details. This includes your employment status, source of trading funds, estimated annual income, estimated value or savings/investments, and intended investing amount.
- Step 7: Declare your trading intent and accept a disclosure to confirm you understand the nature of forex trading.
- Step 8: Accept the broker terms and conditions and confirm that you are not a US resident.
Once you have completed the process above, AvaTrade online broker will generate a suggested account type for you. For example, if the information you provide indicates that you are not ready for a live account, you will be offered a demo account. However, regardless of the broker’s suggestion, you are free to proceed to a live account if you wish.
After creating your account, you will be asked to supply supporting documentation. To make this easy for you, our AvaTrade review experts have created a list of everything you’ll need:
- Personal information – Address, full name, email, national identity number, passport number, employment information.
- Regulatory information – Estimated value of savings and investments, intended investment amount, source of trading funds, trading aims, trading experience.
- Documentation – National ID (front and back), utility bill (proof of address), wire transfer verification, joint account authorization form (for joint accounts only).
Our AvaTrade review team found that the types of accounts available differ slightly depending on your location.
EU clients can open a Retail or Professional account, clients in the UK and Ireland can also open a Spread Betting Account, while clients outside the European Union are only offered the Standard Account.
All account types allow hedging and scalping. They also feature variable spreads.
In the EU, Retail accounts offer a maximum leverage of 1:30 on currency pairs. The Professional account offers leverage of 1:400, but you must fulfill certain conditions to qualify:
- You must have made at least 10 trades of significant size per quarter, in the past year.
- You have a minimum of one year’s relevant experience in the financial sector.
- Your financial instrument portfolio exceeds €500,000.
International traders have access to the Standard account, which offers maximum leverage of 1:400 of currency pairs.
All AvaTrade accounts can be adapted for Muslim traders, which means overnight carry fees are waived. However, spreads are slightly higher on these accounts.
Our AvaTrade review experts also found that this forex broker offers a free demo trading account, making them an excellent choice for beginner traders. All you need to provide is your name, email address, and phone number. This makes it a great opportunity for you to determine whether AvaTrade is the right fit for you.
Your demo accounts will have a balance of $/€/£100,000. This gives you funds to practice trading on margin.
AvaTrade trading costs
Our AvaTrade review team found that this broker offers competitive spreads compared to many other popular brokers. Below you can find a summary of the basic fees and commissions with this broker.
Trading Fees* Type of Fee Cost Minimum Order Size (lots per trade) 0.01 Average Spread USDEUR (pips) 0.9 Commission (%) 0 Commission on Islamic Accounts (%) 0 Non Trading Fees Type of Fee Yes or No Inactivity Fee Y Deposit Fee Y Withdrawal Fee Y
*Based on standard account type.
In terms of overnight carry fees, AvaTrade’s rates are on par with many other quality brokers. This broker also doesn’t charge any fees for withdrawals or deposits, although you are responsible for any fees you incur from your bank or credit card company.
Unfortunately, AvaTrade does charge inactivity fees. If you don’t use your account for 3 consecutive months, you will have to pay an inactivity fee of $50. This fee will continue to apply for every quarter you don’t use your account. They also charge an administration fee if your account is inactive for 12 consecutive months. The fee is $100 and is applicable in addition to the inactivity fee.
AvaTrade payment methods
Our AvaTrade review team pleased to see that this broker offers a good range of payment methods for deposits and withdrawals. These methods vary based on your location, however, you should find ample options regardless of where you are trading from.
If you are in the European Union, you can deposit and withdraw money using a credit card, via wire transfer, or e-wallets like Skrill and Neteller. Outside the European Union, depending on your location, you’ll also have access to other e-payment systems like WebMoney.
Note that only verified accounts can make deposits or withdrawals, which requires a copy of a valid identification document such as a passport or ID card and a copy of a document containing proof of address.
Deposits via credit card are usually processed instantly, though it can take up to one business day for your first deposit. E-payments take up to 24 hours to go through, while bank transfers can require up to 10 business days.
AvaTrade generally processes and sends withdrawals within one business day. However, it can take more time to receive the payment once it’s been approved and processed. Credit cards can take up to 5 business days, e-wallets approximately 24 hours, and bank transfers up to 10 business days.
AvaTrade trading bonuses
With AvaTrade, you can enjoy excellent bonus offers, including an attractive welcome bonus. The welcome bonus is only available to clients outside of Europe, due to EU regulations, but the good news is that all traders can take advantage of the refer a friend program.
Our AvaTrade review team discovered that the refer a friend program is a great way to earn some additional cash to trade with. You can earn between $50 and $250, depending on how much your friend deposits. They must, however, deposit at least $500 and open a minimum of 10 trades.
AvaTrade trading platforms
Our AvaTrade review team was impressed with the number and quality of platforms this broker provides. We’ve compiled a handy overview of trading options offered by AvaTrade below.
If you have a retail account or a demo account, you can opt for the highly popular MetaTrader 4 (MT4) or MetaTrader 5 (MT5). Both platforms come with extensive charting and analytical tools to help you trade effectively. You can also use trading robots on these platforms.
WebTrader is another option. This web-based platform is very user-friendly and ideal for beginners. It provides all the tools you need to trade effectively without going overboard.
If you plan on trading forex options, you will have to use AvaOptions. This proprietary platform makes trading options a little simpler by providing essential information in a graphical format, such as trade risks and potential payoffs.
What is the execution policy at AvaTrade?
Our review of AvaTrade forex broker’s execution policy reinforces ample steps are taken to ensure the best results for their clients.
Orders on their platform are fully automated, meaning that when you enter or close a trade you are giving the platform a direct instruction on your account based on the generated prices of the platform. This means that the transactions are not occurring on any exchange, multilateral trading system or external execution venue. This ensures that the market prices offered are in line with AvaTrade’s counterplay banks and liquidity providers.
The speed of execution at AvaTrade is phenomenal. Your requests are made as quickly as the limitations of technology and communications allow. Additionally, market orders can only be made when there is an existing possible trade at the requested price.
You can add a variety of conditions to your trades, such as close at loss, close at profile, trailing stop, market order, and limits. If possible, AvaTrade will honor these instructions and the trade will be closed when the limits are met. If certain trading conditions prevent the execution of such orders, the order shall be executed at the first available price.
The minimum nominal trade size at Avatrade is 0.01. Maximum position limitations vary depending on account type and instrument.
AvaTrade markets and products
Our AvaTrade review team was pleased to see that this online forex broker offers a healthy number of financial instruments for traders to choose from. With AvaTrade you can trade over 750 instruments in 8 asset classes.
AvaTrade Markets and Products Instrument Number Forex 55 Stocks 627 Commodities 17 Indices 20 FXOptions 44 ETFs 5 Bonds 2 Cryptocurrencies 14
With over 55 currency pairs at your disposal, AvaTrade grants you access to the world’s most liquid market. You’ll find a galaxy of trading pairs available from major pairs such as EUR/USD and USD/JPY to exotic pairs like GBP/ILS and CHF/HUF.
If you’re looking to try your hand at trading stocks, AvaTrade has you covered. Their 600+ listings include reputable companies such as Apple, Amazon, Netflix, Deutsche Telekom.de, and more. It is also worth noting that some listings are platform-dependent, so keep this in mind when choosing your preference.
While you won’t find every commodity available at AvaTrade, this online broker does offer a decent variety for all types of traders. Their range covers metals such as gold and copper, energies such as Brent oil and gasoline, grains like corn and soybean, and softs such as cocoa and sugar #11 to name a few.
AvaTrade is a great match if you’re looking to start trading stock indices from around the world. You’ll have access to top indices, such as S&P 500, NASDAQ 100, and FTSE 100, as well as alternative options such as the Cannabis index.
Our AvaTrade review team was pleased to see that there is a focused selection of bonds available for trading. Included in their offerings are the Euro-bund and Japan government bond. Each offers 5:1 leverage and a 20% margin, while the Euro-bund comes with a spread of 0.03 over the market and the Japanese government bond at 0.06 over the market. Manual and automatic as well as bot trading (MT4 only) are available and expert advisors can be consulted for those eligible.
Experience uncompromised safety when trading the Crypto markets with AvaTrade. You’ll find a healthy selection of major currencies including BTC and ETH, as well as altcoins such as EOS and Litecoin. AvaTrade support staff are available 24/7 too, to ensure help is at hand when trading this non-stop market.
Our AvaTrade review experts were also pleased to see that this broker offers social trading options through DupliTrade and ZuluTrade. If you’re a beginner, social trading can be a great way to learn more about trading while still making a profit. These systems allow you to copy trades placed by experienced AvaTrade traders.
The AvaTrade’s forex site is completely mobile-responsive. You can easily browse, register, and fund your account whilst on the go.
Our AvaTrade broker review team also discovered that the broker offers a platform specifically for mobile devices. AvaTradeGO is not a forex trading platform, but a portal that manages your entire account and the mobile version of MT4.
Using AvaTradeGO, you can trade using your mobile phone or another device via MT4. You’ll also have access to a great dashboard that gives you a real-time overview of everything that’s happening in your account. AvaTradeGO also comes with Market Trends, which is a social trading application.
If you prefer you also have the option of using the mobile version of MT4 directly. Regardless of which platform you choose, AvaTrade ensures that you can easily trade from anywhere and on any device.
AvaTrade offers a wide range of trading tools, including a trading calculator, an economic calendar, the AutoChartist tool, and market analysis.
The AutoChartist tool is available for free to clients who make a minimum deposit of $500. It’s extremely useful as it scans multiple assets in real-time, finds trading opportunities, and sends you an alert so you never miss out.
Education and training
While conducting our review of AvaTrade forex broker, we were impressed by the extensive array of educational materials available. Not only do they offer publicly accessible guides, but they also have a dedicated academy website featuring premium content for their customers.
Sharp Trader features complete courses with videos, articles, and more. Beginners can learn the basics of trading, whilst veteran members can learn about more advanced concepts.
The Sharp Trader website also offers news and market analysis to ensure you have all the information you need to become a better trader.
AvaTrade customer support
Our AvaTrade review experts tested this broker’s support team and found that they are quick to respond, helpful, and knowledgeable.
This broker offers support via live chat, phone, and email in 14 languages, which is impressive and proves AvaTrade does their best to offer a great trading experience.
Support is available 24 hours a day on weekdays. Essentially, if the markets are open, you will be able to reach AvaTrade’s customer service team.
AvaTrade – Our verdict
Our AvaTrade review 2020 concluded that this broker is an excellent option for beginner and veteran traders alike.
You’ll be able to enjoy a wide range of tradable assets, a low minimum deposit, alternate earning options, as well as an extensive range of trading tools and educational materials. You’ll have all the opportunities you need to become the best trader you can be.
Sign up with this highly reputable global broker today if you want to enjoy an outstanding trading experience.