AvaTrade Forex Broker Review For 2024

AvaTrade Basics

🏛️ Based in	Dublin, Ireland
⚖️ Regulation	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

Our Opinion About AvaTrade

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 Protection

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.

Industry Awards

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: 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 Instruments

AvaTrade has a good selection of trading assets. They offer traders more than 1200+ trading instruments including forex pairs, stocks, indices, and cryptocurrencies.

• Forex – AvaTrade has 50+ currency pairs including all majors, minors, and many exotics. 
• Cryptocurrency – They have many cryptocurrencies including Ripple, Ethereum, and Bitcoin cash.
• Indices – AvaTrade has 30+ stock indices including all the top US, European, and Asian indices.
• Bonds – They have CFD trading on two major bonds.
• Stocks – AvaTrade have CFD trading on 600+ stocks including US, EU and UK brands.

AvaTrade Account Types

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.

Standard Account

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.

Demo Accounts

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. 

AvaTrade Spreads

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.

AvaTrade Leverage

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.

AvaTrade Registration: How To Open An 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 among 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 Deposit Methods

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 has a slightly higher minimum deposit than some of the other forex brokers. They only have one account option, and the minimum deposit for that account is $100. While this might seem quite high, AvaTrade is definitely worth the extra starting capital. This is because they offer low trading costs and provide a good all-round service.

AvaTrade Withdrawals

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.

The withdrawal time depends which payment method you choose. AvaTrade processes requests fairly quickly – usually within a few working days. If you’re trying to withdraw funds using an e-wallet then the request can take up to 24 hours. If you’re hoping to withdraw money using a debit or credit card, then the request can take up to 5 working days. However, if you’re withdrawing money bank transfer, then the request could take a while – usually up to 10 business days.

AvaTrade Platforms

• 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. 

AvaTrade Trading Tools

• Economic Calendar – The AvaTrade global economic calendar provides key information about global financial events. You can use the calendar to find out how economic data releases for things like GDP, CPI, and retail sales are likely to affect currency prices. You can also use it to anticipate price movements and plan your forex trades in advance.
• Trading Position Calculator – As a trader, knowing how to plan your trades and manage your risk is crucial. When the markets are volatile, it is important to consider both the potential profits and risks of trading. AvaTrade’s Trading Calculator helps you better understand all of the risks of a trade before you make it.
• 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. 
• AvaGo – AvaTrade also offers a proprietary trading app called AvaGo. This is designed to help you trade anywhere, anytime. You can use it to trade forex from your mobile while you’re out and about. You can also use it to get full access to the markets and to a great set of analytical tools.

Trading Education

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. They also show you how to open an account, how to set up your trading platform, and how to manage your trades. 

Customer Support

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.

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 Verdict

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

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. Here are some similar brokers.

Looking for more options? Take a look at more of our forex broker reviews.