- 1 AvaTrade Basics
- 2 About AvaTrade Forex
- 3 Client Fund Safety
- 4 AvaTrade: Legit or Scam?
- 5 AvaTrade Trading Assets
- 6 AvaTrade Trading Accounts
- 7 AvaTrade Registration: How To Open Your Account
- 8 AvaTrade Registration: How To Verify Your Account
- 9 AvaTrade Payment Methods
- 10 MetaTrader Platforms
- 11 Extra Trading Services
- 12 AvaTrade Trading Support
- 13 AvaTrade Trading Hours
- 14 Our Verdict
- 15 AvaTrade Forex Broker Review – FAQ
- 16 AvaTrade Forex Broker Review – Similar Brokers
|🏛️ Based in
|ASIC, BVI, FSCA, FRSA, FFAJ
|💰 Minimum Deposit
|$100 (40000 Naira)
|💳 Deposit Options
|VISA, MasterCard, Neteller, Skrill, WebMoney, Bank Wire
|💳 Withdrawal Options
|VISA, MasterCard, Neteller, Skrill, WebMoney, Bank Wire
|📌Open an account
|Start Trading with AvaTrade
About AvaTrade Forex
AvaTrade is a popular online forex broker with over 200,000 clients. The company was first set up in 2006 in Ireland. They are now a large international provider with offices in Shanghai, Sydney, Milan, Tokyo, New York, Nigeria, Paris, and South Africa.
AvaTrade offers a reliable service and all-round great forex trading experience. They are one of the most reputable forex companies in the industry. They operate under the supervision of eight different financial authorities, including ASIC and CySEC. As such, AvaTrade has a secure online trading environment and a good level of client fund safety.
When it comes to their products, AvaTrade has a much better range of trading instruments than many of their competitors. You can choose from forex, stocks, indices, commodities, cryptos, and bonds. AvaTrafe also has much better trading conditions than many other brokers. You can trade with high leverage, tight spreads, and low minimum deposits – all of which are very helpful!
In addition to a great trading environment, AvaTrade also provides world-class online trading support. They offer a nice choice of trading tools including their very own app AvaGo. They also offer free educational materials including articles, eBooks, and webinars. And for those with questions, AvaTrade also provides multilingual customer service and excellent trading support.
Client Fund Safety
AvaTrade has good client fund protection policies that are in line with their regulatory requirements. They hold client funds in segregated accounts, separate from their own funds This means that it cannot use client money for business purposes. You can therefore be sure that your money is safe.
AvaTrade: Legit or Scam?
AvaTrade is a legit forex broker. They are a reliable forex company with licences from multiple financial authorities. As a regulated provider, they have adequate security and client fund protection measures in place. They also offer multiple payment methods and fast transaction handling. You are unlikely to have any issues opening or closing an AvaTrade account.
AvaTrade has been nominated for many prestigious industry awards. For example, they have previously won best retail broker, best fixed spread brokers, best mobile trading platform, and best forex education. They have also won other awards such as best customer support, best alert system, and best financial derivative trading provider.
AvaTrade Trading Assets
AvaTrade has a good selection of trading assets. They offer traders more than 1200+ trading instruments including forex pairs, stocks, indices, and cryptocurrencies.
AvaTrade has a nice selection of online trading instruments. This means that you can trade a broad range of assets and aim to balance your trading risk.
- Forex – AvaTrade has many majors, minors, and many exotic pairs.
- Cryptocurrency – They also have Ripple, Ethereum, Bitcoin and Bitcoin cash.
- Indices – AvaTrade has 30+ stock indices including those from US, European, and Asian markets.
- Bonds – They have CFD trading on EURO-Bund and the Japan Govt Bond.
- Stocks – AvaTrade have CFD trading on 600+ stocks.
AvaTrade Trading Accounts
AvaTrade has two options when it comes to trading. You can choose from a standard account and a demo account. The standard account comes with great trading conditions including high leverage and fast trade execution.
There is only one type of real trading account at AvaTrade. This is the Standard Account. The account is suitable for both new and experienced traders. This is because of its low minimum deposits and competitive online trading conditions.
There is only one type of demo trading account at AvaTrade. Their demo account is suitable for both new and experienced traders. This is because it replicates live trading conditions and gives traders the opportunity to test new trading strategies.
The spreads available with the AvaTrade accounts are quite good. For example, the spreads for EURUSD start from 0.9 for retail traders and from 0.6 for professional traders. Whereas, the spreads for GBPUSD start from 1.5 for retail traders and 0.9 for professional traders. In our opinion, these are quite competitive spreads.
The leverage available with the AvaTrade accounts is quite high. For example, you can get leverage of up to 1:400 on forex pairs. This is slightly lower than the leverage available at other forex brokers, but still high enough for traders to benefit from additional trading opportunities. The leverage for other trading instruments is also fairly good. For example, you can get leverage of up to 1:200 on indices and commodities. This is in line with the average leverage available at many other forex brokers.
The AvaTrade minimum deposit depends on which payment method you choose. For example, the minimum deposit is $100 if you fund your account using a credit card and $500 if you deposit money in your account via wire transfer.
AvaTrade Registration: How To Open Your Account
As part of our AvaTrade review, we checked their online registration process and account requirements. In our opinion, the sign up process is quite simple in line with what you would expect from a regulated broker. The first thing you need to do is visit the company website and fill in their online application form. This is so that AvaTrade can collect some basic personal data and start creating your account. At this stage of the registration process, you will also need to choose an email address and password. These will be your login details.
The next thing you will need to do is take a short test about online trading. This is so that AvaTrade can determine how much you know about forex trading and if it is safe for you to use their services. At this stage, you will need to show AvaTrade that you can answer their questions correctly and know enough about the forex market to trade properly. If you pass the test, then you will be able to move on to the next stage of your application process.
AvaTrade Registration: How To Verify Your Account
As part of the registration process, AvaTrade will need to verify your identity. This is a legal requirement and standard amongst all regulated brokers. They will ask you to submit copies of certain documents so that they can check if the personal information you provided is correct. For example, they will ask you to send proof of identity. This could be a copy of your passport or driving licence. They will also ask you to provide a proof of address. This could be a utility bill, a bank statement, or a government issued tax document.
Once they have checked your document, and verified your identity, they will then approve and verify your account. At this stage, you can deposit money and start using your account to trade forex.
AvaTrade Payment Methods
As part of our AvaTrade forex broker review, we took a look at what payment methods they accept. We also had a look at their payment processing times and payment handling fees. In our opinion, they offer plenty of payment options, and handle payments quickly and securely.
AvaTrade offers a good selection of deposit methods. You can add money to your trading account using conventional payment methods such as Visa, Visa Electron, Visa Debit, and Mastercard. You can also add money alternative deposit options such as JCB, WebMoney, Skrill, Neteller and Wire Transfer.
AvaTrade offers a good selection of payment withdrawal methods. You can take money out of your trading account using popular withdrawal options such as Visa, Visa Electron, Visa Debit, and Mastercard. You can also take out money using other withdrawal methods such as JCB, WebMoney, Skrill, Neteller and Wire Transfer.
- MetaTrader4 – MetaTrader4 (MT4) is a great choice for new forex traders. It has a simple design that is easy to navigate, and it is easy to use the various available features. You can use it to trade lots of different trading instruments including forex, stocks, and indices. The AvaTrade MT4 trading platform also has helpful charting tools. You can use it to access 4 order execution types, 30 technical indicators, and 23 analytical objects.
- MetaTrader5 – MetaTrader5 (MT5) is another great choice for beginner traders. It has a nice interface and comes with lots of helpful trading tools. You can trade all of your favourite markets including forex, shares, and crypto. The AvaTrade MT5 trading platform also has many great features. You can use it to access 6 order execution types, 38 indicators, and 37 analytical objects.
Extra Trading Services
- Trading Central – AvaTrade offers market analysis via a third party provider called Trading Central. The analysis covers all the major markets. You can use it to help inform your fundamental analysis, technical analysis, and economic news. You can also use it as a learning tool to carry your own market research and learn new analysis techniques.
- AvaSocial – AvaTrade offers a copy trading app called AvaSocial. It lets you copy the trades of successful investors and learn from their experience. You can use it to manually trade on market signals or you can use it to follow a fully automated service. AvaSocial is also a social trading platform. This means that you can use it to find mentors and to connect with other traders.
- DupliTrade – AvaTrade has a second copy trading tool called DupliTrade. This tool enables you to automatically replicate the actions of expert traders directly into your AvaTrade trading account. This means that you can use it to copies and implement other people’s strategies, and save time when learning how to make your own trades.
AvaTrade Trading Support
- Customer Service The customer service team is available 24/5. You can contact them via e-mail, phone, and live chat. Their team speaks English, German, French, Hungarian, Arabic, and Spanish. They also speak Russian, Portuguese, Japanese, and Swedish.
- Education and Research – AvaTrade has plenty of free educational materials. For example, they has a wide selection of free trading videos. These videos teach you all the basic trading terminology including pips, margin, leverage, and spreads.
AvaTrade Trading Hours
AvaTrade is open for trading during standard market hours. This means that you can place trades from Sunday 22:00 GMT to Friday 22:00 GMT. Like all forex brokers, AvaTrade changes their trading hours on public holidays. They will let you know in advance of any changes to trading hours.
AvaTrade is an established broker with a great reputation within the forex industry. They have a basic but competitive account model. They also have a good choice of trading tools and educational resources. As such, AvaTrade caters well for both novice and experienced traders. Traders should consider seeking services from this broker.
AvaTrade Forex Broker Review – FAQ
Yes, AvaTrade is a trusted broker. They are an established company that has been offering online trading services since 2006. They have licences from numerous reputable regulatory authorities including CySEC. AvaTrade also have a strong reputation for customer services and have won numerous online trading rewards.
The best way to trade profitable on AvaTrade is by getting a good trading education and taking the time to test your trading ideas. If you’re looking for extra support with your trading, you can also try one of AvaTrade’s trading tools. For example, DupliTrade makes it easier for you to copy expert traders. This may also help you to create better trading plans and improve your overall profitably.
AvaTrade Forex Broker Review – Similar Brokers
AvaTrade is an excellent forex broker. However, if you want to look at other companies, there are also many other forex brokers in Africa. Here are some similar brokers.