In this Avatrade Review, We will discuss, what is AvaTrade, the account opening process, tools provided, fees, and more.
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What is AvaTrade ?
AvaTrade is a CFD and forex broker, and it was founded back in 2006. It is regulated by the Central Bank of Ireland. It has a long operating history which makes it safe for the customers.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Account opening at AvaTrade is simple and fully digital. It requires very little time to verify your profile, which means you can start trading in a day.
The required AvaTrade minimum deposit is $100. They have mentioned $500 as the minimum deposit, but when we asked them on live chat they mentioned the minimum deposit like $100.
The types of accounts available at AvaTrade are:
- Retail account (for EU citizens only)
- Standard account (for all customers)
- Corporate account
- Options account
- Spread betting account
- Islamic account
AvaTrade has low CFD & average forex fees.
AvaTrade fee snapshot
|S&P 500 CFD||The fees are built into the spread, 0.5 points are the average spread cost during peak trading hours.|
|Europe 50 CFD||The fees are built into the spread, 2 points are the average spread cost during peak trading hours.|
|EURUSD||The fees are built into the spread, 0.9 pips are the average spread cost during peak trading hours.|
|Inactivity fee||$50 per quarter after 3 months of inactivity; after 12 straight months of non-use, a further annual administration fee of $100 applies|
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AvaTrade CFD fees for a $2,000 long position held for one week
|S&P 500 index CFD fee||$1.1|
|Europe 50 index CFD fee||$0.8|
|Apple CFD fee||$9.0|
|Vodafone CFD fee||$6.0|
AvaTrade forex benchmark fees of a $20,000 held for one week
|EURUSD benchmark fee||$10.3|
|GBPUSD benchmark fee||$9.2|
|AUDUSD benchmark fee||$10.0|
|EURCHF benchmark fee||$10.2|
|EURGBP benchmark fee||$12.1|
Trading platforms provided by AvaTrade are highly customisable and has modern design. It is highly customizable and has good charting tools. AvaTarde provides three types of trading platforms.
Web Trading Platform
You can choose between these web trading platforms:
- WebTrader, AvaTrade’s own trading platform
- MetaTrader 4, a third-party trading platform
- MetaTrader 5, a third-party trading platform
- AvaOptions, AvaTrade’s own trading platform for CFD options
WebTrader platforms are available in 15 different languages.
Mobile Trading Platform
AvaTrade offers three trading platforms:
- AvaTrade, AvaTrade’s own mobile trading platform
- AvaOptions, AvaTrade’s own mobile trading platform for trading forex options
- MetaTrader 4, a well-established third-party trading platform.
For desktop trading, the client has options among MetaTrader4, MetaTrader5 & AvaOptions. AvaOptions is used only for forex trading.
AvaTrade only focuses on trading in CFD and Forex. You can not trade other real time assets with Ava.
AvaTrade Product Portfolio
|Currency pairs (#)||55|
|Stock index CFDs (#)||19|
|Stock CFDs (#)||620|
|ETF CFDs (#)||41|
|Commodity CFDs (#)||17|
|Bond CFDs (#)||2|
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Research and Education
Ava Trade has good research tools. Its news feed and charting tools are amazing. They used to publish articles and blogs on a continuous basis. Brokers are available to help traders every time. They have good educational tools as well.
The live webinars, video lectures, and podcasts allow new learners to learn the fundamentals of the market. The video tutorials provide in-depth and detailed knowledge of every topic related to the market.
|Great web and mobile platforms||High stock CFD fees|
|Advanced research and educational tools||High inactivity fees|
|Trading platform tutorial||Limited product portfolio|
|Credit/Debit cards, electronic wallets are available||Slow withdrawal – over 3 days|
|Data on asset fundamentals||No two-step (safer) login|
You can contact AvaTrade via:
- Live chat
AvaTrade’s customer services are available in 9 multiple languages. Support is available only 24/5.
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AvaTrade is considered safe because it is regulated by the top tier institutions like;
- the Central Bank of Ireland
- the B.V.I Financial Services Commission on the British Virgin Islands
- the Australian Securities and Investments Commission (ASIC)
- the Financial Sector Conduct Authority (FSCA) in South Africa
- the Japanese Financial Services Agency (FSA)
- the Financial Futures Association of Japan (FFAJ)
- the Abu Dhabi Global Market Authorities Financial Services Regulatory Authority (ADGM – FSRA)
AvaTrade clients are protected under scheme, which is as follows;
AvaTrade legal entities
|Country of clients||Protection Amount||Regulator||Legal Entity|
|EU||€20,000||Central Bank of Ireland||AVA Trade EU Ltd|
|Australia||No protection||Australian Securities and Investments Commission (ASIC)||Ava Capital Markets Australia Pty Ltd|
|South Africa||No protection||Financial Sector Conduct Authority (FSCA)||Ava Capital Markets Pty|
|Japan||No protection||Japanese Financial Services Agency (FSA), Financial Futures Association of Japan (FFAJ)||Ava Trade Japan K.K.,|
|Middle East||No protection||Abu Dhabi Global Market Authorities Financial Services Regulatory Authority (ADGM – FSRA)||AvaTrade Middle East Ltd|
|International clients||No protection||B.V.I Financial Services Commission||AVA Trade Ltd|
AvaTrade is a good CFD broker. It is beneficial for those who are ready to take risks. As mentioned earlier CFDs are highly complex instruments with 71% of traders being at a loss while trading the same.
Customers are protected under the protection scheme. Hence, before investing must check that you come under scheme or not.
It provides a free demo account for a lifetime, no withdrawal fee, and an inactivity fee kicks after 3 months. They charge a small minimum deposit. Have a limited product portfolio. Ava Trade has good research tools.
But as you saw account verification is quick, with no withdrawal fee hence you can definitely give it a try.