AvaTrade is a multi-regulated, multi-asset STP and Market Maker broker which has been in operation since 2006 and is headquartered in Dublin, Ireland. AvaTrade offers the trade in more than 250 financial instruments which are spread across several asset classes including forex, commodities, cryptocurrencies, stocks, shares, and more.
AvaTrade offers use of flexible and powerful trading platforms which can be used when trading in global markets including MetaTrader 4, MetaTrader 5, AvaTradeGo, AvaOptions, DupliTrade, and ZuluTrade.
Despite the trading needs and objectives of traders or their trading experience, AvaTrade offers comprehensive trading solutions and services in addition to competitive trading conditions to provide traders with the best trading experience.
AvaTrade is strictly regulated by several regulatory entities including ASIC, BVI, CBI, FFAJ, FSA, and FSCA in facilitating the trades of traders from around the world. AvaTrade has offices based in Australia, Ireland, South Africa, Japan, and the British Virgin Islands.
AvaTrade Account Types
AvaTrade offers traders simple yet comprehensive trading solutions which is reflected in the accounts offered. Where other brokers offer traders with an array of accounts to choose from, AvaTrade offers traders with a retail and a professional account.
The retail account caters to a variety of traders despite their trading experience and it is adequately tailored to various trading needs and objectives. It features a transparent fee schedule and a variety of features.
When making use of AvaTrade to facilitate trade in global markets, traders should take note of the maximum trades and orders. These are applicable when trading cryptocurrencies and the maximum position limits are subjected to reduction when there are high levels of market volatility.
The maximum position limits applicable to the trade-in cryptocurrencies are as follows:
- BTC Pairs – $600,000 maximum
- ETH – $400,000 maximum
- XRP – $250,000 maximum
- BCH, LTC – $200,000 maximum
- BTGUSD, EOSUSD – $50,000 maximum
The retail and the professional accounts offered come with the use of either one of the trading platforms that AvaTrade supports namely MetaTrader 4, MetaTrader 5, AvaTradeGo, AvaOptions, DupliTrade, and ZuluTrade.
These platforms are free to use on web browsers, depending on the platform, and can be downloaded onto PCs which run on Linux, Windows, and MacOS. Traders must ensure that they check the compatibility of the software with their hardware before they attempt to download any of the platforms.
These trading platforms are also available on mobile devices that support either Android or iOS and can be downloaded from either Google Play or the Appstore, respectively.
AvaTrade Minimum Account Features
The retail account caters for beginner traders as well as more advanced traders who have accumulated some trading experience but who may not qualify as professionals just yet.
AvaTrade offers traders with negative balance protection when they register a retail account and the account features on this account include:
- A minimum deposit of $100
- Maximum leverage up to 1:400
- Fixed spreads which start from 0.9 pips when trading forex
- Zero-commissions charged on trades, and more.
To qualify as a professional trader and to subsequently gain access to opening a professional account, traders must have trading activity over 12 consecutive months, the necessary trading experience in the financial sector, or a financial portfolio of €500,000 or more.
These are strict requirements which are EU regulation compliant and in addition, the professional account offers traders with tight and fixed spreads, commission-free trading, and a variety of other benefits and features to add a competitive edge to trading.
AvaTrade Demo Account
A demo account is offered by most brokers and AvaTrade offers this with the purpose of being used in the following ways:
- It can be used as a practice account by beginners who wish to improve their trading skill and experience in a manner which is risk-free and involves trading by using virtual funds.
- It can be used by traders to test AvaTrade’s platform and offering without having to risk their funds, and
- It can be used by traders to test their trading strategies in an environment which mirrors a live trading environment.
The process in signing up for a demo account with AvaTrade is simple, straightforward, and digitalized. It can be done within a few minutes and as soon as registration is complete, traders can start using their demo account.
To make use of the demo account, traders must choose one of the trading platforms offered by AvaTrade. The trading platforms can either be used on a web browser, where the trader can sign in with their demo account details or they can download and install the platform on:
- Their desktop PC which operates on Linux, Windows, or MacOS, or
- On their mobile devices including tablets or smartphones that use Android or iOS.
AvaTrade Islamic Account
Islamic Accounts, or Islamic Account options, serve the purpose of catering for Muslim traders who strictly follow the Sharia Law. The Sharia law prevents its followers from paying any type of interest.
Overnight fees, which are charged when traders hold positions open for longer after the trading day has concluded, are either charged to the trader’s account or paid into it – depending on whether the trader is earning interest or paying it.
Such interest, whether traders pay or earn it, is prohibited by the Sharia Law, and therefore AvaTrade offers Muslim traders with the option of converting their live trading account to that of an Islamic Account after their trading account has been registered and approved.
Muslim traders who trade with AvaTrade and have an Islamic Account are therefore exempted from overnight fees. In addition, AvaTrade also offers its Islamic Account holders with the following features:
- Halal Gold and/or Silver Trading – Islamic Accounts are offered with the necessary support from AvaTrade when they trade gold and silver in compliance with the Sharia rules and laws.
- Halal Oil Trading – Islamic Account holders are offered with the chance to trade in global futures markets without being subjected to positive or negative swaps when making use of AvaTrade’s Islamic Account.
- Islamic Forex Trading – Islamic Account holders can rest assured that AvaTrade is fully compliant with Islam rules and there are no daily swaps charged when positions are held open for longer than a trading day.
- Tighter spreads – Islamic Account holders are offered with tighter spreads which start from 0.3 pips.
There are numerous forex brokers who charge additional fees such as higher commissions, wider spreads, or administration fees, in the absence of overnight fees or swaps, but AvaTrade does not charge any extra fees and instead, offers Muslim traders with competitive trading conditions.
Pros and Cons
|Multiple regulation and authorization through reputable entities||US Clients not accepted|
|Negative balance protection offered||Variable spread accounts not offered|
|Multi-award-winning broker||Only one account type for retail traders and one for professional traders|
|Fast trade execution|
|Fixed and tight spreads|
|Zero-commission trading offered|
|Variety of powerful trading platforms|
|Social trading platforms available|
|Hedging and scalping supported|
|Demo account provided|
|Islamic Account option offered|
|No additional charges on Islamic Account|
AVATRADE AT A GLANCE
|Regulating Authorities||ASIC, BVI, CBI, FFAJ, FSA, FSCA|
|Countries not accepted for trade||United States|
|Islamic Account (Swap Free)||Yes|
|Platform Types||MetaTrader 4, MetaTrader 5, AvATradeGo, AvAOptions, DupliTrade, ZuluTrade|
|OS Compatibility||Web browsers, Windows, MacOS, Linux, Android, iPhone, tablets, iPads|
|Tradable Assets||Forex, commodities, cryptocurrency, stocks, shares, indices, metals, energies, options, bonds, CFDs, ETFs|
|Languages supported on Website||Multi-lingual including English, Portuguese, Italian, French, Spanish, Polish, Indonesian, and more.|
|Customer Support Languages||14 Languages|
|Customer Service Hours||24/5|
How many instruments can I trade with AvATrade?
You can trade the following instruments:
- CFDs, and
Which platforms are supported by AvATrade?
MetaTrader 4, MetaTrader 5, AvATradeGo, AvATradeOptions, DupliTrade, and ZuluTrade.
Does AvATrade offer leverage?
Yes. AvATrade offers maximum leverage of 1:400.
What spreads can I expect with AvATrade?
Spreads from as little as 0.9 pips when trading forex.
Does AvATrade charge commission?
No. AvATrade offers commission free trading on both the retail and the professional account.
Are there additional charges on the Islamic account?
Not that can be ascertained from the information provided on the AvATrade website. Muslim traders are subjected to all other normal trading and non-trading fees with the exception of being exempted from paying overnight fees.
Is AvATrade regulated?
Yes. AvATrade is regulated by ASIC, BVI, CBI, FFAJ, FSA, and FSCA.
Is AvATrade a recommended forex trading broker for experts and beginners?
Yes. AvATrade caters for both beginners and experts.
What is the overall rating out of 10 for AvATrade?
What is the difference between a demo and live trading account?
A Demo Account is a risk-free account which is funded by virtual money and allows traders to either practice trading, explore the brokers offering, or test trading strategies in a mimicked live trading environment.
Does AvATrade offer a demo account?
For how long is the demo account valid?
30-days. This option is standard amongst a great variety of brokers although other brokers often offer demo accounts that do not expire given that these demo accounts are continuously used.
Does AvATrade offer the option of an Islamic Account?
Yes. The option for converting a live trading account is provided.
Which live trading accounts does AvATrade offer?
AvATrade offers the following trading accounts:
- Standard Retail Account, and
- Professional Account
What are the available deposit currencies for a live trading account?
DEPOSITS AND WITHDRAWALS
What is the minimum deposit for AvATrade?
How do I make a deposit and withdrawal with AvATrade?
- Bank Wire Transfer
- Credit/Debit Card
- Neteller, and
Does AvATrade charge withdrawal fees?
No. All fees pertaining to withdrawals are covered by AvATrade.
How long does it take to make a withdrawal?
This will depend on the method through which withdrawals are made along with the process involved and generally it can take between one and several business days.