Risk Warning: Your Capital is at Risk.
- AvaTrade Overview
- Why Choose AvaTrade?
- Regulation: Can I Trust AvaTrade?
- Getting Started With Trading
- AvaTrade Spreads
- Deposits, Withdrawals, and Fees
- Bid-Ask Spread (Pip) Calculation
- Account Types and Requirements
- Mobile Trading: AvaTradeGO
- AvaTrade Platform Review
- AvaTrade Education Resources
- Customer Support
AvaTrade is an online brokerage firm offering its customers access to forex and Contracts for Difference (CFD) trading in shares, bonds, indices, ETFs, commodities, and cryptocurrencies.
The firm also offers spreadbetting to residents of the United Kingdom and Ireland. CFDs allow traders to speculate on the price of assets without actually owning them in their accounts.
In this review, we’ll provide all the details you need to know before deciding to trade with Avatrade.
AvaTrade customers have access to several customizable trading platforms. Traders can choose between the proprietary AvaTradeGo platform and the industry-leading MetaTrader4 (MT4) platform for manual trading.
Both platforms support full mobile trading. Traders also have automated trading platform choices including ZuluTrade, which can be integrated into MT4, downloaded as an app or traded over the web.
This AvaTrade review will cover all of the important details about the broker and discuss its major advantages and disadvantages.
Why Choose AvaTrade?
|Trustworthy broker (we scored AvaTrade 75/100 in our broker trust rating)||Demo account limited to 21 days|
|Islamic accounts available||High minimum deposit amounts|
|11 cryptocurrencies available to trade||AUD and GBP currencies only available to Australian and British clients, respectively|
|24/5 customer support via phone, live chat or email in 14 languages||Withdrawals can take up to 10 days - however, they do tend to be 1/2 working days|
|Robust mobile application for on-the-go trading|
|Up to 400:1 |
Essential Details About AvaTrade
|Overview||One of the UK's top spread betting & CFD providers|
|Our Overall Rating|
|Broker Trust Rating||75/100|
|Markets||Indices, Shares, Bonds, Commodities, Cryptocurrencies, ETFs|
|Countries Served||More than 150|
|Fees||AvaTrade is a no-commission broker. It makes money through the market bid/ask spread (See below).|
|Regulator(s)||Central Bank of Ireland, Australian Securities & Investments Commission (ASIC), Financial Services Agency (FSA), Financial Futures Association of Japan (FFAJ), Financial Sector Conduct Authority (FSCA), B.V.I Financial Services Commission, and Abu Dhabi Global Market Authorities (ADGM)|
|Customer Support||24/5 email, live chat and phone in 14 languages|
|Demo Account||Yes - for 21 days|
Regulation: Can I Trust AvaTrade?
AvaTrade is regulated by several well-respected international regulatory bodies. All of the below bodies provide protection over clients’ funds by ensuring they are kept in separate bank accounts.
- Australian Securities and Investments Commission (ASIC) in Australia (License number: 406684)
- Central Bank of Ireland (Eurozone) – Central Bank of Ireland (Reference No.: C53877)
- Financial Services Agency (FSA) & the Financial Futures Association of Japan (FFAJ) – (License number: 1574)
- Financial Sector Conduct Authority (FSCA) – (Registration number: 45984)
- B.V.I Financial Services Commission
- Israel Securities Association (ISA)
- Abu Dhabi Global Market Authorities (ADGM)
For Canadians, a collaboration with the leading Canadian broker Friedberg Direct, a division of Friedberg Mercantile Group Ltd, allows Canadian residents to use AvaTrade’s platforms and technology while maintaining their account with a Canadian-regulated broker.
However, we also note that the firm has been sanctioned by regulators in 2016 and 2017 for its actions in Belgium, Israel, and Canada.
|Financial Services and Markets Authority (FSMA)||August 2017||€175,000|
|Israel Securities Authority (ISA)||May 2017||ATrade subsidiary (atrade.co.il) of global retail forex broker AvaTrade has been fined due to a misleading video the company circulated as part of a recent promotional campaign||150,000 NIS (New Israeli Shekel)|
|British Columbia Securities Commission||May 2016||Issued regulatory warning for placing advertising despite not being registered to trade in, or advise on, securities or exchange contracts in British Columbia||N/A|
AvaTrade offers customers dedicated 24/5 customer support in 15 languages. Traders can contact the AvaTrade customer service support team by phone, email, and live chat.
Where Does AvaTrade Operate?
AvaTrade has its administrative headquarters in Dublin, Ireland, and regional offices in Mexico, Johannesburg, Chile, Mongolia, Dublin, Milan, Tokyo, Abu Dhabi, and Sydney.
AvaTrade servers traders in over 150 countries, including Italy, Spain, Germany, Brazil, United Arab Emirates, Sweden, Finland, South Africa, Australia, China, Russia, Poland, Hungary, and Chile.
However, AvaTrade is not available in the United States. Other countries AvaTrade doesn’t operate in and where trading is banned include Iran, Syria, North Korea, New Zealand, Turkey, and Sudan.
The website and platform are available in 24 different languages, including Dutch, English, Finnish, French, Italian, German, Korean, Spanish, Portuguese, Arabic, Russian, Chinese, Swedish, and Turkish.
History of AvaTrade
AvaTrade was founded in Dublin, Ireland, in 2006 by Emanuel Kronitz and Negev Nosatzki. The firm began operations as forex trading firm Ava FX, but soon branched out into other asset classes.
In 2013, the firm recognized that it had become a multi-asset brokerage firm and rebranded itself as AvaTrade.
Today the firm serves over 300,000 clients who place over 2 million trades every month. AvaTrade’s administrative headquarters in Dublin, Ireland, with regional offices in Mexico, Johannesburg, Chile, Mongolia, Dublin, Milan, Tokyo, Abu Dhabi, and Sydney.
Getting Started With Trading
AvaTrade offers customers forex and CFD trading in more than 250 financial instruments. AvaTrade divides the products it offers to traders into six categories: forex, indices, shares, ETFs, commodities, and cryptocurrencies.
AvaTrade provides its traders with access to more than 50 forex pairs, including all the major currency pairs, minors and exotics.
AvaTrade offers CFD markets on 19 stock indices:
|DJ 30||SPAIN 35 (IBEX)|
|FTSE 100||SPI 200|
|DJ EURO STOXX50||CHINA A50|
AvaTrade currently offers more than 100 different stocks to traders, including the following:
- Berkshire Hathaway
AvaTrade customers can trade CFDs on the following ETFs:
|MSCI Emerging Markets Index Fund|
|S&P 500 VIX Short-Term Futures ETN|
|MSCI Brazil Index Fund|
|Energy Select Sector SPDR|
|Market Vectors TR Gold Miners|
|VelocityShares Daily Inverse VIX Short Term ETN|
AvaTrade offers CFD trading on the following commodities:
AvaTrade offers European and Japanese government bonds with a maximum leverage of up to 5:1.
AvaTrade is compensated through the Bid/Ask spread. The broker offers both fixed and variable spreads depending on the specific market being traded.
- Fixed spreads: These spreads don’t change, regardless of market conditions like volatility or liquidity.
- Variable spreads: These spreads may fluctuate throughout the day in accordance with factors like liquidity or volatility. AvaTrade informs traders on its website of the minimum variable spreads as well as the average spreads over a recent timeframe.
AvaTrade obtains spreads data from reputable third-party sources, which in turn obtain the data from exchange feeds.
Forex Fixed Spreads
|Instrument||Fixed Spread (Pips)|
|S&P500||USD||0.25 over market|
|NASDAQ 100||USD||1.00 over market|
|DJ 30||USD||3.00 over market|
|CAC 40||EUR||1.00 over market|
|DAX 30||EUR||1.50 over market|
|FTSE 100||GBP||0.50 over market|
|FTSEMIB||EUR||10.00 over market|
|RUSSELL2000||USD||0.30 over market|
|DJ EURO STOXX50||EUR||1.00 over market|
|SMI||CHF||2.00 over market|
|MSCI||USD||0.10 over market|
|NIKKEI225||JPY||10.00 over market|
|SPAIN 35 (IBEX)||EUR||2.00 over market|
|HSI||HKD||10.00 over market|
|OMX30||SEK||0.50 over market|
|SPI 200||AUD||2.00 over market|
|DOLLAR INDEX||USD||0.04 over market|
|AEX||EUR||0.10 over market|
|CHINA A50||USD||10.00 over market|
|MSCI Emerging Markets Index Fund||USD||0.13%|
|S&P 500 VIX Short-Term Futures ETN||USD||0.15%|
|MSCI Brazil Index Fund||USD||0.13%|
|Energy Select Sector SPDR||USD||0.13%|
|Market Vectors TR Gold Miners||USD||0.13%|
|Platinum||USD||$1.10 over market|
|Corn||USD||$0.25 over market|
|Soybean||USD||$1.00 over market|
|Wheat||USD||$0.25 over market|
|Natural Gas||USD||$0.002 over market|
|Heating Oil||USD||$0.0015 over market|
|Gasoline||USD||$0.0015 over market|
|Coffee C||USD||$0.15 over market|
|Sugar no. 11||USD||$0.02 over market|
|Cotton no. 2||USD||$0.06 over market|
|Brent Oil||USD||$0.02 over market|
|Palladium||USD||$0.65 over market|
|Cocoa||USD||$6.00 over market|
|Copper||USD||$0.005 over market|
|Instrument||Typical Spread (Pips) Over market|
|CRYPTO 10 INDEX||1%|
Leverage and Margin Requirements
The maximum leverage when trading with AvaTrade is 30:1. This maximum leverage is available on numerous forex pairs.
However, different CFD assets have specific margin requirements. Traders should consult the Trading Conditions & Charges section of the AvaTrade website for the specific margin requirements for each instrument.
Traders who fall below the AvaTrade margin requirements risk receiving a margin call and having their position closed prematurely.
Deposits, Withdrawals, and Fees
|Inactivity Fee||$/£/€50 per quarter after 3-months of inactivity|
|Administration Fee||$/£/€100 after 12-months of inactivity|
|Overnight Fee||Overnight fees (or credit) are charged when a position remains open past 22:00 GMT. According to AvaTrade's website, overnight fees are subject to change.|
|Commission||AvaTrade is compensated via their Bid-Ask Spreads (Pip). (See the Pip calculation formulas for each asset class.)|
|Optional Add-Ons||Customers may incur fees if they want to purchase additional optional value-added services offered by AvaTrade.|
Deposit Methods and Process
AvaTrade offers several deposit methods. These include:
|Deposit Method||Funds Availability*||Restrictions|
|Credit or debit card||Immediate||Not available to Canadian traders.|
|Wire transfer||Up to 7-10 days||—|
|e-Wallets: Skrill, WebMoney, and Neteller||Within 24 hours||Not available to UK or Australian traders.|
The minimum deposit is $/£/€100 across all methods. Deposits can be canceled by contacting AvaTrade’s support team on business days (excl. Saturdays and Sundays). If deposits do not arrive in traders accounts, they can also contact the support team.
Traders can make deposits and withdrawals by Visa, Pay.com, or wire transfer. The minimum deposit for new customers is $/£/€100 via credit/debit cards, wire transfer, and e-wallets.
Traders then choose the currency they want for their account – USD, EUR, GBP, or AUD. However, AUD is only available for Australian clients, while GBP is only available for clients from the UK.
In order to withdraw funds, traders need to fill out a withdrawal form through MyAva. Traders must verify their account to be eligible for withdrawals.
For compliance purposes, AvaTrade must transfer your funds back to the original source you used to fund your account. This account needs to be in the same name as the account maintained with AvaTrade.
After you have withdrawn up to 200% of your initially deposited funds (upon profit) to your funding card, you may choose other methods to withdraw the rest of your funds.
AvaTrade typically processes withdrawals within 1 to 2 business days after they are approved. However, the broker notes that processing and receiving your funds may take up to 10 business days.
AvaTrade notifies customers via email about any problems regarding withdrawal requests. AvaTrade will not approve withdrawal requests until all requirements are met.
AvaTrade notes that once they send the funds, it may take a few extra days to reach the trader’s account depending on their bank/credit card company.
Bid-Ask Spread (Pip) Calculation
AvaTrade does not charge commissions, but receives compensation through the bid-ask spread (Pip) charged during each trade. Traders can calculate the Pip charges using the following formulas for each asset class:
- Forex, AvaOptions: Spread x Trade Size = Spread Charge in Secondary Currency*
- Commodities, Stock Indices, Bonds, Individual Equities, ETFs: Spread x Trade Size = Spread Charge in Currency Instrument is denominated in
*Secondary Currency stands for the second currency presented in an FX pair
Account Types and Requirements
AvaTrade offers two live trading accounts (retail and professional) and a demo account. The firm also offers Islamic accounts.
Traders can open a live trading account with a minimum deposit of $\£\€100 by credit card deposit and $/£/€500 by wire transfer.
Traders can open accounts denominated in USD, EUR, GBP, and AUD. AUD is only available for Australian clients, while GBP is only available for clients from the UK.
AvaTrade offers a 21-day demo account. Users get a total of 100,000 demo currency credits to test the platform with. Both live and demo accounts have live price feeds.
Traders who want additional time on top of the standard 21-day demo account can contact your account manager for an extension. Another option is to create another demo account after your initial one has expired.
Switching over to a real account from a demo account can be done via the demo dashboard by clicking on the ‘Upgrade to Real‘ button.
Traders need to fill in some personal details to verify themselves, along with details on trading knowledge, experience, the preferred platform, and currency. Live chat is also available to assist with upgrades.
The sign-up process is quick and simple with AvaTrade:
- Click the ‘Register Now’ button on the AvaTrade website
- Choose between a real or demo account
- Enter your name, email and phone number
- Enter your address and date of birth (not needed for demo)
- Fill out basic information about your trading experience and trading knowledge (not needed for demo)
- Select a password, choose a trading platform (not needed for demo)
- Select the currency for your account (not needed for demo)
The next AvaTrade screen asks you for basic information such as your estimated annual income, savings, expected annual investment of funds and source of account funding.
To pass the AvaTrade identity verification, you will need to upload both an ID and proof of residence. However, traders can make deposits prior to being verified by AvaTrade.
Acceptable forms of ID:
Customers must send copies of the front and back of ID card
|ID card must present the following details:
|Proof of Residence (PoR)|
Acceptable forms of PoR:
|Other PoR requirements:
Retail and Professional Accounts: What’s the Difference?
AvaTrade offers two types of accounts. Retail accounts, and professional trading accounts.
Professional traders have the benefit of pre-ESMA leverages, including 400:1 on forex pairs and 25:1 on selected cryptocurrency assets.
In order to qualify for a professional account, traders have to meet an eligibility criteria. The criteria involves:
- Sufficient trading activity over the past 12 months (inc. size, transaction volume).
- Minimum 10 trades per quarter in the past 12 months
- At least one year of relevant experience in the financial services sector
- Financial portfolio of over $/£/€500,000 (inc. cash and instruments)
Mobile Trading: AvaTradeGO
When it comes to mobile trading, AvaTrade caters for traders of all levels with AvaTradeGo.
AvaTradeGo is an on-the-go trading platform designed and released as a mobile app in the App Store for iOS users, and on Google Play for Android users.
Mobile users who are not yet ready to trade live can access a practice account with AvaTradeGo.
Mobile Platform Features
The mobile app is feature-rich. Traders are not asked to compromise any of the desktop and web trader features, receiving:
- A three-tiered dashboard with a watchlist, hot trades, and trending trades sections
- All 9 asset classes
- An overall P/L indicator (wallet dashboard)
- An overall margin level indicator (wallet dashboard)
- Order management dashboard
- Full-feature trade execution with P/L limits
- AvaProtect – lets traders define trade duration as protection
- Tutorials and educational resources
The trade execution screen seems busy at first, although is well-designed and straightforward to navigate. The top of the screen presents a choice to buy or sell, followed by a slot to define the exact amount.
At the bottom of the trade execution screen, users can access a small chart of their selected products.
Traders can choose from Stop-Loss and Take-Profit limits, as well as AvaProtect.
Signing Up on Mobile
The mobile sign-up process is relatively quick. Users can choose between a practice account or a real account.
As per the web trader registration, traders are asked to fill in a set of personal and experience-related details. Demo account traders are not required to complete the verification process.
Upgrading to Live Trading on Mobile
Traders can upgrade to a real trading account directly from the mobile app, either from the homepage dashboard, or the account settings section.
This process is completed once traders’ accounts are verified.
AvaOptions Mobile Trading
AvaOption is AvaTrade’s mobile-exclusive options platform. Traders can execute, and manage FX and option trades on-the-go with 13 different options strategies available.
The AvaOptions mobile app includes an integrated strategy guide and 40+ currency pairs.
AvaTrade Platform Review
AvaTrade offers traders access to several third-party trading platforms including:
- AvaTrade Web: AvaTrade’s own in-house trading platform accessible through desktop and larger tablets.
- AvaTradeGo: A full-featured mobile app version of the AvaTrade web trader.
- MetaTrader 4 & 5: A popular industry-wide trading software that’s accessible through mobile, tablets, and desktop.
- DupliTrade: A social trading platform with the option to automate trades, integratable with AvaTrade web.
- MQL5: Social trading integratable with MetaTrader 4 and 5.
- ZuluTrade: Social trading with trade protection features.
This review focuses on AvaTrade’s web trader and its features.
The AvaTrade web trader’s dashboard welcomes traders with a shortcut menu on the left-hand side, offering tabs like trading, position management, open orders, and order history.
The hamburger menu allows access account settings, personal preferences, and various trading tools like the trading calculator.
Given that the page is split into asset browsing and charting, it has a simple and uncluttered design. The top-bar shows overall account balance statistics, like the available and total balances, along with the trader’s profit/loss and equity data.
Live chat is available directly from the AvaTrade web trader dashboard.
By key features, we mean those features with which a trader must interact with while executing a trade.
- Assorted Asset Browsing: Traders can access various trending asset classes, like ‘Hot’, ‘Most Rising’, or ‘Most Falling’ amongst a few, as well as specific asset classes like commodities and bonds.
- Two-Click Trades: Trades can be executed in as little as two clicks.
- One-Click Favorites: Each tradeable product has a star next to it. By clicking it, traders can add the product to their list of favorites.
- Risk Management Tools: When buying or selling, traders can set limits for specific profit and/or loss amounts.
- Future Trade Limits: Set the price at which you want a trade to be executed in the future.
- Order History: A comprehensive order history tab that keeps track of past trade statistics, navigatable by custom time periods
- Trading Calculator: A simple calculator that allows traders to project and calculate the minute details (spread cost, margin, profit/loss) of prospective trades.
The charting tab is located under the trading dashboard. Unfortunately, trader’s can’t customize the size of the chart.
There are four main features of the charting functionality:
- Time frame: A choice of chart timescales between minutes (1, 5, 15, 30), hours (1, 2, 4), 1 day, and 1 week.
- Chart type: Traders can choose between bar, candle, or line chart design.
- Cursor type: Crosshair or plain cursor.
- Studies: A charting tool that allows traders to draw up to five different indicators on the chart. These indicators vary from the simpler ‘standard deviation’ index to the likes of a linear regression curve or gator oscillator. There are a total of 90 indicators available, although only 5 can be drawn up at a time.
AvaTrade Education Resources
There are two types of educational resources offered by AvaTrade. The main resource library is the Education tab on the AvaTrade website.
It offers several resources to help traders improve their skills. These include the following:
- Trading for Beginners: A basic description of the terms and products on the AvaTrade platform.
- Videos: A library with a total of 55 videos on trading strategies, tools, safety, and generic beginner lessons.
- Sharp Trader: A premium educational website with exclusive content for AvaTrade customers. Sharp Trader offers videos, articles, daily news, and trading tools that teach fundamentals and advanced strategies used by professional traders.
- Economic Indicators: An explanation of different types of statistics about particular countries’ economies and how they are used.
- ebook and Blog: Forex First Steps is an eBook for new traders. Traders can learn forex trading and other trading concepts. There is also a blog with various trading tips and insights.
- Order: The section named ‘Other Type’ in the dropdown menu leads to a page that explains different types of orders and how they are used.
AvaTrade has an extensive customer support center with phone support numbers in 38 countries.
AvaTrade also offers live chat and email support. All support avenues are available 24-hours-a-day, 5 days-a-week.
The support team is available in 15 different languages, including Arabic, French, German, Italian, Portuguese, Russian, and Spanish. Non-English language lines are open 06:00AM – 03:00PM GMT.
Official trading hours are from 21:00 GMT on Sundays to 21:00 GMT on Fridays.
What is the minimum deposit for AvaTrade?
The minimum deposit for AvaTrade is $/£/€100. You can fund your AvaTrade account via credit and debit card, wire transfer, Skrill, Neteller, and WebMoney. Credit and debit card payments are not available for Canadian residents, and Skrill, Neteller, and WebMoney are not available for UK and Australian residents.
Is AvaTrade regulated?
AvaTrade is regulated by several authorities, including the Central Bank of Ireland (CBI), Australian Securities and Investments Commission (ASIC), Financial Services Agency in Japan (FSA), Financial Futures Association of Japan (FFAJ), BVI Financial Services Commission, the Financial Sector Conduct Authority in South Africa (FSCA), Abu Dhabi Global Market Authorities (ADGM), and the Israel Securities Association (ISA).
How long do AvaTrade withdrawals take?
AvaTrade claims that the withdrawal process takes 1-2 working days (Mon to Fri). The arrival time of funds depends on the payment method used for your withdrawal. The fastest withdrawals are usually processed via credit and debit cards, or via e-wallets like Neteller and Skrill. Wire transfers may take the longest.
How do I withdraw money from AvaTrade?
Before you can withdraw your money from AvaTrade, you need to ensure that your AvaTrade account and identity have been fully verified and confirmed by the AvaTrade team. After verification the withdrawal process on Avatrade’s side takes 1-2 working days, although your funds may take longer to arrive due to banking policies.
It must be noted that initial deposits must be withdrawn with the payment provider you deposited with.
Credits: Original AvaTrade review written by Lawrence Pines. Major updates and additions in May 2020 by Marko Csokasi with contributions from the Commodity.com editorial team.