Founded in 2006, AvaTrade is an online brokerage dealing in different tradable instruments including Forex, Stocks, Cryptocurrencies, Indices, and Commodities. Its headquarters is based in Dublin, Ireland, besides the regional outlets and sales offices in Paris, Tokyo, Sydney, and Milan. AvaTrade is popular for various reasons including a modern platform, and low spreads.
Currently, over two million trades each month and the broker boasts of over 200,000 registered clients around the world. Our review provides a cross-sectional outlook of the broker including fees, trading, verification, supported coins, reviews, bank accounts, customer support, CFD trading, demo account, trading platforms, mobile app, and deposits.
AvaTrade works under several regulators based in top-tier jurisdictions. The broker is compliant with accepted and applicable market standards and frameworks which makes the broker a trusted dealer offering financial instruments such as CFDs and Forex. The exchange and its subsidiaries conduct business in alignment with regulatory best practices of their resident countries. AvaTrade is registered in the British Virgin Islands and headquartered in Dublin, Ireland. The table below outlines the seven agencies regulating AvaTrade and its subsidiaries, including the license details for AvaTrade and its affiliates. We should highlight that the below-listed jurisdictions offer different trading environments due to varying trading laws & restrictions put in place in those countries.
|Regulator Name||Regulator Resident Country||License Details|
|Central Bank of Ireland||Ireland||L/NO: C53877|
|Australian Securities and Investment Commission||Australia||L/NO: 406684|
|South African Financial Sector Conduct Authority||South Africa||L/NO: 45984|
|Financial Service Commission||The British Virgin Islands||L/NO: SIBA/13/1049|
|Israel Securities Authority||Israel||L/NO: 514666577|
|Financial Futures Association and Financial Services Agency||Japan||L/NO: 1547 and 1662 respectively|
|ADGM||Abu Dhabi, UAE.||L/NO: 190018|
AvaTrade is a multi-national online broker with both regional and sales offices located in Paris, Tokyo, Sydney, and Milan. However, the head office is in Dublin, Ireland. The following section highlights where AvaTrade offices are located:
5 Lamps Place, Amiens St
Dublin 1, Ireland.
WeWork, 320 Pitt Street
Oficina 1505, Vitacura 2670
5th Floor, CDMX,
ADGM Square, Al Khatem Towers
Abu Dhabi, Middle East.
AvaTrade’s customers come from all continents and in over 150 countries. Unfortunately, traders from the U.S.A, Iran, Cuba, New Zealand, Belgium, and Syria cannot use the platform. According to the broker’s website traders can access the platform in 41 different languages. The table below outlines the countries supported by the broker:
|Australia||Australia, Papua New Guinea|
|Europe||Australia, Estonia, Austria, Bulgaria, Czech Republic, Greece, Ireland, Latvia, Netherlands, Spain, United Kingdom, Portugal, Croatia, Andorra, Switzerland, Malta, Croatia, Italy, Jersey, Turkey, Serbia, Slovakia, Malta, Poland, Denmark, Finland, Lithuania, Slovenia, Montenegro, San Marino, Ireland, Russia, Germany, France, Ukraine, Romania, Sweden, Hungary, Belarus, Norway, Bosnia and Herzegovina, Moldova|
|South America||Brazil, Chile, Colombia, Ecuador, Peru, Colombia, Uruguay, Bolivia, Guyana, Venezuela, Suriname, and Paraguay.|
|North America||El Salvador, Dominican Republic, Barbados, Mexico, Honduras, Trinidad & Tobago, Guatemala, Canada, Haiti, Nicaragua, Costa Rica, Panama, Jamaica, Belize, Bahamas, Saint Lucia, Grenada, Saint Vincent and the Grenadines, Antigua and Barbuda, Saint Kitts and Nevis, and Virgin British Island.|
|Africa||Kenya, Botswana, Benin, Mauritius, Tunisia, Zambia, Angola, Cameroon, Namibia, South Africa, Uganda, Ghana, Nigeria, Ethiopia, Egypt, DR Congo, Tanzania, Sudan, Algeria, Morocco, Mozambique, Ghana, Madagascar, Niger, Côte d’Ivoire, Burkina Faso, Mali, Malawi, Senegal, Zimbabwe, Guiney, Chad, Benin, Togo, South Sudan, Sierra Leone, Libya, Central African Republic, Liberia, Mauritania, Gabon, Lesotho, Eswatini and Rwanda.|
|Asia||Bahrain, Jordan, Oman, China, Bahrain, Philippines, Armenia, India, Kuwait, Pakistan, Philippines, Japan, Vietnam, Turkey, Thailand, Myanmar, South Korea, Iraq, Afghanistan, Saudi Arabia, Uzbekistan, Malaysia, Yemen, Kazakhstan, North Korea, Sri Lanka, United Arab Emirates, Tajikistan, Israel, Kyrgyzstan, Laos, Lebanon, Turkmenistan, Singapore, Oman, State of Palestine, Kuwait, Georgia, Mongolia, Armenia, Qatar, Bahrain, Timor-Leste, Cyprus, Bhutan, Maldives, Azerbaijan, Cambodia, Indonesia, Singapore, Maldives, Nepal, Taiwan, Republic of Korea, and Jordan.|
AvaTrade’s portfolio has over 10 tradable coins. Cryptocurrency is one of the most popular and successful financial instruments offered by AvaTrade. Clients can invest in any of the eight Cryptocurrencies listed. Additionally, AvaTrade customers can leverage the Crypto 10 Index for broader stakes. The minimum deposit is $100, so, you can start with a small investment and grow it gradually. AvaTrade offers CFDs on the following cryptocurrencies;
Margins allow traders to leverage their positions by increasing their trade profits. At AvaTrade, traders can increase their profits by 25 times if a trade goes their way.
Peek preview of how the spread is charged on Crypto CFDs: Sell Ethereum against USD
For illustration purposes, we’ll assume you want to take a short position on Ethereum and the U.S Dollar pair hence the tradable asset will be ETH/USD. Assuming that the quotation price for the pair is 400/500, and after analyzing the market, you predict that the price of ETH will fall soon. This means that if for instance, you had chosen a lot size of $5, you’ll either gain or lose $5 for each unit change in the price of ETH.
Assuming the new price quote is 400/450, then the trade went your way by 50 points. Therefore, you’ll calculate your profit as follows:
50 Units x $5 = $250.
If the pair moves against you by similar units, you lose a similar amount. The table below lists leverage ratios, margins, and spreads applied on the frequently traded coins at AvaTrade.
Trading on AvaTrade does not attract any commission, and its fees align with the market standard. However, they compensate the commission-free trades with higher spreads when you transact. Equity traders are required to pay minimum commission-free spreads of 0.13%. Frankly speaking, AvaTrade’s Forex spreads are on the higher side when compared to brokers who charge commissions on trades. AvaTrade charges are classified as either trading or non-trading fees.
The trading fee chargeable depends on trading activity. However, the fee structure is completely transparent, and to avoid calculation errors, you can use their free calculator to know the trading costs before executing each trade. The most common charges include:
AvaTrade makes money from the charges applied when you are opening or closing a trade, which is shown in the spread. Tighter spreads mean more money and vice versa.
AvaTrade customers do not pay any deposit fee. However, a minimum deposit of $100 is required when using e-payment or credit cards, and $500 for bank transfers.
AvaTrade supports few base currencies, unlike other brokers hence, having an account with a different base currency is unlikely. The lack of support for different base currencies means you’ll be charged a currency conversion fee if you make deposits in currencies not supported by your account. AvaTrade terms and conditions indicate that if deposits are made in a different currency, the company will convert the currency in question at the prevailing market rate.
Whether you execute a buy or sell trade, AvaTrade will not charge you any commission on the order. Instead, the commission is compensated with bid/ ask spread; price differences at the point of trading an asset.
This is a charge on positions held overnight, and it’s also called Overnight Premium. Positions held through weekends attract a 3-day swap fee, usually charged on Wednesdays. This charge is meant to offset costs of leverage for open positions. Calculation of overnight fees for different assets vary, and detailed information thereon is available in the “Trading Information” section of the company’s website.
Non-trading fees include withdrawal and inactivity charges.
AvaTrade does not charge its customers to withdraw. However, your account must be verified to withdraw successfully. Additionally, withdrawals can only be made via the method used to fund your account. Credit and debit card withdrawals are processed in 5 days, E-wallet withdrawals are cleared in 24 hours, while bank transfers take 10 business days to be cleared.
Failure to log in to your account for a period of three months attracts an inactivity fee which is deducted from the account. The amount charged depends on the base currency of the account in question. Below is a list of the charges for different base currencies.
GBP Account: 50 Pounds.
USD Accounts: $50.
EUR Accounts: 50 Euros.
Inactivity of 1 year attracts an administration charge of 100 Pounds, 100 USD, and 100 Euro for GBP accounts, USD account, and Euro accounts respectively.
AvaTrade caters to all types of clients offering them a wide range of platforms for both automated and manual trading. Clients have access to a desktop platform that’s compatible with whatever device and operating system they might be using on their PCs.
AvaTrade offers different trading platforms to address the needs of all traders. They include:
AvaTrade has made it possible for all types of clients to access their platform, even if you prefer a desktop, the WebTrader platform will sort you out. WebTrader is compatible with the most common operating systems if not all. The good thing is that you can trade via WebTrader without downloading it. You only need a reliable browser and a stable internet connection and you’ll be good to go. The proprietary trading platform can be accessed throughout the day (24/7) from anywhere AvaTrade is available. Once you’re logged in, you’ll realize that the interface is easy to use and navigate. The navigation panel’s main tabs include:
Key Features of WebTrader:
Like with most brokers, opening an account at AvaTrade is a simple process that takes a few minutes of your time. New traders can use the steps listed below to start off.
AvaTradeGo was awarded the “best mobile trading app in the world” in 2020. You can trade on the go with ease after downloading the AvaTradeGo mobile app that comes with a simple and easy-to-navigate interface. The app is compatible with IOS or Android-OS-enabled smartphones. AvaTradeGo comes loaded with real-time charts and advanced trading tools for market analysis.
One advantage of this app is its multi-functionality; you can open it on the PC and close it on your phone. At times, you may lack the time or may be able to access your desktop. Considering this, AvaTrade launched the AvaTradeGo mobile app to address such issues and provide an alternative for people with active and mobile schedules.
Features of AvaTradeGo
Besides viewing live prices and charts, the app allows traders to choose their preferred trading instruments and create watch lists.
You can easily secure your trades by leveraging AvaProtect. Activate this feature on AvaTradeGo or WebTrader and have it covered during the protection period. According to AvaTrade, all losses realized during the protection period are compensated.
In case you encounter issues that you can’t solve on your own, you can reach the support team in most major languages via the mobile app.
AvaTradeGo can only be used after a successful registration process that can easily be completed in a few minutes using the steps listed below.
You can buy or sell any crypto appearing in the portfolio section while still on your schedule. The following steps can be used to successfully buy crypto on mobile:
Traders can express their market view via calls and puts, plus they can utilize embedded tools to maximize their return when trading Vanilla Options on AvaTrade. AvaOptions has different trading tools that allow traders to evaluate the market status in real-time. With AvaOptions, you can trade any instrument appearing on your dashboard including commodities, stocks, forex, and cryptocurrency simultaneously, and in the same account. AvaOptions is also liked by many traders, thanks to Autochartist, a chart pattern recognition software.
It gives traders an edge as they can evaluate trends hence, entering trades strategically. Besides evaluating trends, Autochartist utilizes historical data to predict trend direction. Pro traders also use the software to strategize their trades when faced with different scenarios.
MetaTrader 5 is simply an advanced version of MetaTrader 4. Advanced features of this platform include efficient technical analysis, graphical objects, can be used to scan through 9 different timeframes, automated trading, and can be used for different order types.
AvaTrade did not forget Mac users. Mac Trading is the optimized version of MetaTrader 4. If you encounter issues with this platform, you can always revert to using WebTrader as it’s also compatible with Mac devices.
This is the future for social trading. Ava Social not only allows traders to follow but to also copy trades of their favorite traders. Ava Social allows newbies to utilize the wisdom of pro traders. They can use the platform to ask trading-related questions from mentors or groups and improve their trading skills.
AvaTrade offers the following account to their accounts:
The account type accessible by AvaTrade clients depends on one’s global location. Retail accounts are offered to EU residents while the rest of the world only has access to standard accounts.
This account is ideal for companies or legal entities.
Options accounts are ideal for customers who want to trade Forex options.
This type of account is available only to UK and Ireland-based residents.
This is also called a swap/ free account, and it’s ideal for people with an Islamic background.
Experienced traders are given the option of opening a professional trading account. Leverage in this type of account is higher than in standard accounts. To thrive in this type of account, one is required to be sufficiently knowledgeable in finance coupled with enough trading experience in the past 1 year.
This type of account is recommended for all beginner traders. Demo trading is the only safest way new traders can have a feel of what online trading is all about, and what they’re getting themselves into.
AvaTrade payments are only made via credit & debit cards, Wire Money, Bank Transfers, and E-wallets (Skrill & Neteller). The source of funds should bear the account holder’s name for compliance with anti-laundering laws. You can link your bank account to the trading account to avoid re-entering your credentials every time you need to pay or withdraw. The following steps can be used to link your bank and AvaTrade account.
The company scores high in this when compared to other brokers. In 2020, AvaTrade entered into a partnership with SharpTrader to provide quality learning tutorials (including videos) to beginner traders who have to go through an entry course. The mini-course teaches about the company’s products, trading & trading psychology, market analysis, and much more. According to market standards, the course is considered one of the best in the industry.
Besides a multilingual customer support team that’s on standby 24/5, the platform’s chatbots and the FAQ section are great ways to get help. Clients also have the option of emailing customer care or calling them on the phone. One good thing about AvaTrade is that they take time to ensure new clients understand their products; you may even never need to contact the support team for the time you’ll be their client.
Traders held different opinions on Reddit. Some people were in favor of investing with the broker but others thought otherwise. One trader said that their miseries started after a call from tradingacademy.io, one of the broker’s affiliates. The reader noted that he was coerced to add more money to his initial $500 which he lost the following day. The screenshot attached below highlights his bad experience on the platform.
Traders on Quora seemed to be confident about the broker. One trader praised the platform for providing crucial automated trading tools that can be used by traders of all levels. While the majority of the traders expressed satisfaction, others were of a different opinion. The screenshot attached below highlights their bad experience at AvaTrade. According to the user, AvaTrade is a scam broker as it’s blacklisted in some countries, Belgium being an example. He also stated that the broker stole his money.
Sure, AvaTrade is a safe online broker and most of its customers are based in top-tier jurisdictions. AvaTrade is authorized and regulated by several trusted regulators. The company has offered online trading services to diverse clients globally. Low deposit requirements and minimal withdrawal restrictions make it even more reliable. The company has a clientele base of over more than 300,000 customers which itself is proof of its legitimacy.
The fact that the platform utilizes security protocols, and is regulated by multi jurisdictions, is one proof that AvaTrade is a safe and secure platform to consider. Additionally, AvaTrade has a negative balance protection policy and Avaprotect for its clients.
Trading success is dependent on many factors. Choosing a reliable broker is key to succeeding in online trading. You could be having all the experience required to succeed in trading, but if your broker is unreliable, you’ll most likely be a very frustrated trader.
Good brokers do not only provide a secure trading environment, but they also ensure that other trading aspects in their platforms are fair, competitive, and match the market standards. Reliable brokers ensure that trading and non-trading fees are competitive, prices are not manipulated, low spreads and withdrawals are processed fast. Below is a brief comparison between AvaTrade and eToro to assist in choosing your most suitable broker.
AvaTrade is regulated by multiple authorities. It is considered a good platform for trading different financial instruments including Stocks, Forex, Indices, and Crypto. The broker offers competitive prices and their fee structure is transparent, so you won’t have to worry about hidden charges. Besides being authorized to provide services in the UK, AvaTrade transacts business in almost every country in the world including Japan, Israel, and Ireland.
New traders on this platform are taken through a familiarity session to make them understand the different products and services offered by the broker. According to most people, the onboarding training provided by the broker via a third party is in a class of its own and arguably the best in this industry. More highlights for the broker include a simple and easy-to-use interface, multilingual customer support, multiple payment methods, and 24/5 client support. You can also follow your favorite trader and copy their trades via AvaSocial. Additionally, traders can trade on the go, thanks to AvaTradeGo, their mobile trading platform. On the other hand, the WebTrader platform can be used to access the broker on desktops. Simply put, AvaTrade is the ideal platform for new traders.
eToro is a social trading platform also authorized by different regulators based in several jurisdictions. It’s one of the best trading platforms when it comes to trading Cryptos. The broker also has different tradable instruments that are competitively priced. Also, eToro has a global image transacting in most countries of the world, including Australia, and Cyprus, besides being regulated in the UK.
eToro’s key highlights include multiple payment methods, an easy-to-use and navigate interface, round-the-clock client support, and accessibility in many global languages.
Considering services offered and key features for the two platforms, we find eToro to be the better option because, with the broker, you not only get value for your investment but you’re able to negotiate for a customized product of your choice, which is particularly beneficial to new traders.
AvaTrade offers different tradable financial instruments, including Stocks, Indices, Commodities, Forex, Cryptocurrencies, and ETFs. The broker offers leverage of up to 1:400 on various assets. The available tradable forex pairs can be accessed via the AvaOptions platform where you can choose between the 40 instruments provided.
Trades can protect their trades against losses to a maximum of $1M over the selected timeframe (usually 1 or 2 days) thanks to their innovative risk management tool, AvaProtect, which is exclusively available on AvaTrade platforms. The risk management tool was developed as part of the broker’s commitment to client satisfaction besides evaluating market volatility hence, diversifying and mitigating potential risks. The greatest part about AvaProtect is that the company reimburses its customers for lost trades once the protected period elapses. Activating the tool can be done using the steps listed below:
Key features include:
Note: AvaProtect can only be used when trading Forex, Silver, and Gold.
You can watch this video to learn more about AvaProtect
AvaTrade has collaborated with Trading Central to provide market insights with a touch of intelligence to their clients hence, taking technical analysis to a whole new level. The intelligence and market insights are available on WebTrader and AvaTradeGo. Alternatively, traders are updated via SMS, emails, or push notifications thereby, accessing the latest content on forex and crypto trading included in that section. The broker constantly posts relevant real-time data to help their traders have an edge.
This feature enhances trading activities for everyone; new and pro traders. The trading signals are usually delivered to traders via the notifications we highlighted earlier, but add-ons can also be used to achieve the same. Strictly speaking, the signals are used by traders to choose a suitable trade strategy or approach. They may decide to analyze the market by using technical, sentimental, or fundamental approaches. Trading FX signals fall under either of the three categories:
The crypto index 10, a benchmark for the cryptocurrency market, is a representation of the world’s frequently traded Cryptocurrencies with consideration to their market capitalization. However, the Crypto 10 Index can be used to benchmark many other financial and non-financial instruments. Global investors track the index to gauge and get sentiments on the prevailing market conditions such as the volatility of a particular asset.
Daily Crypto 10 Index calculations are done using the USD as the base currency, and which occurs between 00:00 and 23:00 UTC each day. Calculation data come from different sources including trading platforms, trusted token issuers, regulatory authorities, and service providers which helps to promote variety and inclusivity.
The index was introduced by Germany BITA, a German Fintech company and it initially had 5000 base value points with no exception. Since the performance of all cryptocurrency markets is mirrored by its value, it, therefore, acts as the default benchmark for the performance evaluation of any cryptocurrency project. One must meet these conditions to be included in the Crypto 10 Index.
After a thorough review of AvaTrade, we can conclude that the platform is secure, legitimate, and is keen on providing quality products and services to its customers. Other features such as low deposits, generous leverages, tight spreads, fast processing of withdrawals, responsive client support team, and 24/5 uptime make AvaTrade a reliable and one of the most popular platforms. For UK residents, dealing with Cryptocurrencies and CFDs is no longer allowed. The FCA recently banned CFD and crypto trading in the UK. However, non-UK residents remain unaffected by the ban.
Yes, the fee structure doesn’t have any hidden fees. AvaTrade’s income is mainly drawn from spread charging.
No, just like most brokers, AvaTrade doesn’t charge any processing fee.
Yes, but it’s quite low compared to most brokers.
Positions held through weekends attract a 3-day swap fee, usually charged on Wednesdays. This charge is meant to offset costs of leverage for open positions.
AvaTrade platform utilizes security protocols and is regulated by multi jurisdictions hence, a secure and safe platform.
Cryptocurrencies are considered highly volatile financial instruments compared to traditional assets.
AvaTrade caters to all types of traders. Whether you prefer trading from a mobile phone or a desktop, you’re covered. With the AvaTradeGo mobile trading app, you can transact from anywhere around the globe, but you can also use WebTrader to access the platform on your desktop.
There’s no catch at all. In fact, AvaTrade provides a better trading environment compared to most platforms, plus if you’re a beginner trader, you will undoubtedly benefit from the learning resources offered.
This is an easy process. Just log on to their website and follow the steps for signing up and in a maximum of one day, you’ll be ready to start off.
The factors to consider when calculating AvaProtect premium include expected market volatility, length of the protection period, and the trade size. However, AvaProtect’s hedging costs are deducted from the free balance in your account at purchase time.