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AvaTrade Review (South Africa Edition) – ☑️ (2021)


AvaTrade review

 

 

Who is AvaTrade?

 

Avatrade is one of South Africa’s most notable brokers with more than 45 000+ active traders in the country with a massive selection of trading pairs and offerings.

 

With strong core values of integrity and innovation, AvaTrade vows to put the customer first and aims to successfully assist traders of all levels and ensure its clients a pleasant experience.

 

AvaTrade is based in Ireland and was founded in 2006 with the mission to empower people to trade with confidence. It is an award-winning global brokerage with a physical office in South Africa 

 

The company’s administrative headquarters are in Dublin, with sales centers in Dublin, Paris, Milan, Sydney, Tokyo, Madrid, Mongolia, Beijing, Nigeria, Santiago, and Johannesburg.

 

AvaTrade is regulated in Europe, the British Virgin Islands, Australia, Japan, and South Africa. Read our complete summarised review on AvaTrade. 

 

A Quick Overview of our AvaTrade Review:

 

Visit their official website now 

 

To meet this, the AvaTradeGO app is available anytime, anywhere, providing a user-friendly interface and innovative tools.

 

 

Safe or Scam?

 

AvaTrade has carved a reputation as a revolutionary leader in online trading by providing a reliable, user-oriented trading environment built on the most advanced platforms and regulated on five continents. Avatrade is a legal and safe broker to trade with*

AvaTrade is regulated by numerous authorities and bodies across the world, including the Central Bank of Ireland, the B.V.I Financial Services Commission on the British Virgin Islands.

Also included are the Australian Securities and Investments Commission (ASIC), the Financial Sector Conduct Authority (FSCA) in South Africa, the Japanese Financial Services Agency (FSA), and the Financial Futures Association of Japan (FFAJ).

AvaTrade currently has 200 000 registered traders around the globe, who place more than two million trades every month, happy to get the choice, support, and security they need.

AvaTrade was among the first forex brokers to introduce CFD trading on commodities, indices, and stocks and introduce digital currency trading.

 

 

Pros and Cons

 

✔️Pros ❌Cons
Free and multiple deposit and withdrawal options Offers only CFDs, forex, and cryptos
Great educational tools Research tools are limited
Easy and fast account opening Phone support is poor
No withdrawal fee Administration fee
Low trading fees Inactivity fee

 

Leverages

 

AvaTrade offers many instruments, each with different leverage which can also change based on the platform chosen by the trader. One can enjoy up to 400:1 leverages.

Most forex pairs have the highest leverage, some metals like gold are 400:1, while other metals are limited to 200:1 leverage.

It is important to make sure about the leverage on the specific platform before commencing trades, and that you have enough equity in your account’s balance to continue trades undisturbed.

 

open a forex account

 

 

Account Types

 

The types of accounts available at AvaTrade are:

 

✔️Standard Account

 

  • An account that is owned by an individual
  • Corporate Account
  • An account that is owned by a legal entity

 

✔️Islamic Account

 

  • A swap-free account, which means that it doesn’t charge swaps for the account
  • An experienced trader can request AvaTrade to open a Professional Trading account, where the leverage is higher than the Standard account.
  • Conditions are that you have relevant experience in the financial sector, sufficient trading activity in the past 12 months and hold at least €500k portfolio value.

 

✔️Avatrade Demo Account

 

  • AvaTrade offers a demo account and suggests this as a way for potential account holders to get a feel for the platform and hone their skills to determine ideal instruments and a trading style.
  • The demo account mirrors real-time market prices and conditions and is by default valid for 21 days. A trader can easily extend it though by contacting customer support or his account manager.

 

 

Market Instruments

 

AvaTrade offers more than 250 instruments on various platforms, including more than 60 currency pairs, major stock indices, cryptocurrencies, commodities (such as gold, silver, sugar, coffee), bonds, individual shares, and ETFs.

AvaTrade offers:

  • Desktop, tablet, mobile, and web-based trading with MetaTrader 4, MetaTrader 5 and AvaTradeGO
  • A range of automated trading platforms and EA compatibility
  • Competitive spreads offering
  • Client funds are held in segregated accounts for increased security
  • Regulated in Europe, Australia, Japan, British Virgin Islands, and South Africa
  • Trading websites in more than 20 languages

 

Fees and Costs

 

AvaTrade has average trading fees and average non-trading fees. Withdrawal is free of charge but there is an inactivity fee to be paid.

An AvaTrade account can be opened with just $100 and AvaTrade offers no volume discounts or guaranteed stop losses. The company charges a $50 fee after three months of account inactivity and a $100 administration fee after one year of inactivity.

No withdrawal or closure fees are listed in the marketing materials but the legal documents note fees for bank transfers and credit card transactions.

 

Deposits and Withdrawals

 

A trader is able to withdraw and deposit funds into his or her AvaTrade trading account with ease. Withdrawals and deposits from traders are handled as quickly as possible, within a safe and secure environment.

AvaTrade adheres to the strict regulations laid out by its regulatory bodies, thereby guaranteeing traders reliability, convenience and security when they make deposits or withdrawals.

AvaTrade offers its clients access to a demo trading account that enables them to try out the platform and its features and to get the opportunity to trade within a live trading environment without the risk of losing money.

Only when a trader feels confident to step into the trading arena, he can open a real account and make a deposit.

AvaTrade offers a variety of safe and secure deposit options, therefore it needs to correctly verify the identity of traders to ensure a safe trading environment while giving them peace of mind that their personal information and funds are always secure.

Withdrawal processing can, however, be unusually slow, requiring as long as 10 business days to receive wire transfers.

At AvaTrade, the trader can choose from: USD, EUR, GBP, CHF, and AUD as base currencies, with AUD only available for Australian clients and GBP only for clients from the UK.

If an account is funded in the same currency as your bank account, you won’t be charged a currency conversion fee and if assets are traded in the same currency as an account base currency, you will not pay a conversion fee.

AvaTrade charges no deposit fees and apart from bank transfers and credit/debit cards, you can use a lot of electronic wallets. The minimum amount that can be deposited is $100 or equivalent.

AvaTrade doesn’t charge withdrawal fees either and a trader can use the same options for withdrawal as for deposits.

A trader can withdraw up to 200% of the amount deposited before with credit/debit cards, so if making a profit more than twice the deposited amount you have to use a bank transfer if you want to withdraw the whole amount.

 

Trading Platforms

 

Platforms in use include:

  • MetaTrader 4 creates a powerful and flexible trading environment
  • MetaTrader 5, offering state-of-the-art trading capabilities, more technical analysis tools, order types, timeframes and graphical objects
  • AvaTradeGO, the intuitive AvaTradeGO app
  • AvaOptions to maximize your return
  • Automated Trading with a wide range of auto-trading software
  • Web Trading to check open trades and perform new ones from any browser without downloading
  • Mobile Trading through AvaTradeGO and MT4 mobile apps
  • Mac Trading whether via web trading or a special download
  • MQL5 – Signals Service that allows you to subscribe to signals from thousands of international providers directly from your trading platform

 

How to open an Avatrade Account (2021)

 

1. Visit the official website of Avatrade.

2. Click on the OPEN AN ACCOUNT / SIGN UP button.

3. Fill in all your personal details.

4. Click the “Submit” button.

5. Verify your account and email address by visiting your email inbox.

6. Click on the Verify account email notification.

7. Now, Sign In to your dashboard with your username and password.

8. Complete all KYC documents to be fully vetted.

9. Deposit money in your trading account.

Finally, you can start trading.

 

Creating an account is easy and quick, with some basic personal data, answering a couple of questions that assess your level of understanding in trading, verifying your identity and residency by uploading either a copy of your ID card, driving license or passport.

 

 

open a forex account

Customer Support

 

AvaTrade’s support team is available by phone, email, and live chat, in several languages, whenever the markets are open. Customer support representatives also monitor and respond to comments on social media on a daily basis.

 

Education and Webinars

 

The AvaTrade education section offers several learning opportunities around trading basics, economic indicators, and charting.

Potential traders can learn more about forex trading with the company through a demo account, platform tutorial videos, general educational videos, and quality educational articles.

AvaTrade provides support through ongoing education so that you can keep improving your trading skills and learning new concepts with, articles, e-books, and daily market analysis.

The company also conducts a series of webinars in several languages, which apply to all levels of traders, from beginner to expert.

Topics covered include Trading for Beginners, a step-by-step guide into the fascinating world of forex trading online. Traders can learn everything there is to know about CFD trading, vanilla options, automated trading, and much more.

AvaTrade also offers a free eBook on Strategies, that helps a trader to discover valuable forex strategies, and their educational video tutorials collection includes everything from beginner lessons on how to use their trading platforms to advanced trading strategies.

 

Research 

 

Potential traders can use Autochartist on the MetaTrader and AvaTrade also offers a convenient trading position calculator. Platforms are user-friendly, but on the other hand, trading ideas, fundamental data, and news feeds are not readily available.

 

Awards and Recognition 

 

Since its opening in 2006, AvaTrade has earned many awards and honors from various reputable organizations.

🎖️In 2009 it earned the honors for Best Alert System from Money Summit and Best Customer Support from Daily Forex.

🎖️In 2010 AvaTrade earned the title of Best Forex Broker from the World Finance Foreign Exchange Awards.

🎖️In 2011 it won the Excellence Award Forex from IBTimes Trading Awards, and both Best Execution Broker in Western Europe and Best Trading Platform Globally from World Finance: Exchanges and Brokers.

🎖️In 2012 AvaTrade earned the honor of achieving Best FX Affiliate Programme from Forex Magnates.

🎖️The year 2013 saw the company receiving honors as Most Innovative Forex Broker in Europe from the Global Banking & Financial Review.

🎖️In 2015, the Grand Prix De La Confiance awarded AvaTrade as Best Forex Broker and Forex traders honored it with the title of Best Forex Broker.

🎖️Between 2008 and 2016, Arabcomgroup – AG honored AvaTrade with titles including Best Financial Derivative Trading Provider, Best Affiliate Programme, and Best Alert System.

🎖️Between 2014 and 2017 AvaTrade received the titles of Best Affiliate Programme and Best Dealing Room from the JFEX Awards.

🎖️From 2014 to 2017, The European called AvaTrade the Best Forex Broker, lauded its Best Affiliation Programme, and named it the Best Bitcoin CFD Trading Provider of the Year.

🎖️From 2011 to 2017, honors from FXEmpire included the title of Best Forex Broker and Best Broker: Most Reliable, and Best Trading Experience.

🎖️In 2016, the African Expo Financial Awards honored AvaTrade for Best Trade Execution. FXdailyinfo.com rewarded AvaTrade for having the Best Affiliate Programme and delivering the Best Trading Experience in 2017 and 2018.

 

AvaTrade at a Glance

 

Broker Avatrade
🕖 Time to open an account 1 day
🚀Bonus Open a trading account in 1 minute
and receive up to $ 10.000 Bonus.
🥇Publicly Traded (Listed No
🗺️ Country of regulation Ireland, Australia, Japan, South Africa,
Abu Dhabi, British Virgin Islands.
🔥Trust Score 97%
🔥Live support 24/5
📱 MetaTrader 4 (MT4) Yes
📱 MetaTrader 5 (MT5) Yes
📊Trading Islamic Account Yes, available
📊CFDs – Total Offered 681
📊CFD Stock Indices Yes
📊CFD Commodities Yes
📊CFD Bonds Yes
📈Tier-1 Licenses 3
📈Tier-2 Licenses 3
📈Tier-3 Licenses 3
💳 Deposit with credit card Yes
💳 Demo Trading Account Yes
💱 Number of base currencies supported 5
💰Spreads 0,9 pips
💰Leverage 400:1
💰Currency Pairs (Total Forex pairs) 60
💰 Withdrawal fee amount Zero
💰 Trading fees class Very Low
💰 Minimum deposit $100
💰 Inactivity fee charged Yes
👛 Depositing with electronic wallet Yes
🎮 Demo account provided Yes
✔️Apple iOS App Yes
✔️Android App Yes

 

Conclusion 

 

Overall, AvaTrade is considered safe since it is regulated by several authorities globally, including the top-tier Central Bank of Ireland and the Australian Securities and Investments Commission (ASIC), and the FSCA in South Africa. 

It is liked for the seamless and hassle-free account opening and many deposit and withdrawal options which are free of charge. AvaTrade also boasts low trading fees and a transparent fee structure.

AvaTrade offers enough and effective customer support, especially via its live chat option. Education opportunities are also great, and the only drawbacks may be a product range that is limited to forex, CFDs, and cryptocurrencies.

Since they only request a small minimum deposit and the inactivity fee kicks in only after three months, any potential trader may try AvaTrade out with confidence and high expectations.

They should be able to trade in peace, knowing they are in the good hands of able customer service representatives that are ready to assist with any trading issue.

Their good service, combined with a thorough understanding of the different financial markets, allows even novice traders to enter those markets with confidence.

Upon a trader’s first deposit of $1 000 or more, he or she will be assigned a dedicated account manager to guide him or her during the first trades, teach how to use the trading platforms, and inform the trader on all market matters.

 

 

Disclaimer

 

AvaTrade believes that a safe and secure trading environment is crucial to its customers’ success in the markets. AvaTrade clients will find the comfort and peace of mind that comes with trading with an established broker in an officially regulated environment.

As a licensed as a regulated broker in the EU, Japan, Australia, South Africa, and the British Virgin Islands, AvaTrade is subject to stringent compliance requirements regarding how they handle client funds, security, and financial reporting.

 

 

 

Frequently Asked Questions

 

What is Avatrade’s Overall Review Rating?

9/10

 

What is the minimum deposit to start trading on Avatrade?

$100

 

Is AvaTrade safe and secure?

Yes, 100%

 

Does Avatrade offer a demo account?

Yes, they do

 

How long does Avatrade withdrawal take?

1 business day. Debit or Credit card withdrawal can take up to 5 business days.

 





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