AvaTrade Review

AvaTrade

Forex Broker

  • Company name: AVA CAPITAL MARKETS (PTY) LTD
  • Founded: 2006
  • Offices: Ireland, France, Japan,
  • Regulators: FSCA No.45984, ASIC, FCA, BVI, FFAJ
  • Broker type: Market Maker

Trading info

  • Min. Deposit: $100
  • Leverage: 400:1
  • Min. Spread: 0.7 pips
  • Deposit/Withdrawal: Bank wire, Visa/Mastercard, Paypal
  • Currency pairs: 50+

Trading platform

  • Platform: MetaTrader 4
  • Web based: Yes
  • Mobile: Yes

Open Account

8.4 TradeForexSA
Pros
  • FSCA Regulated (FSP 45984)
  • MetaTrader platform support
  • 100% bonus match on first deposit
  • Caters for beginners and investment pros
  • Free beginner education including strategy, ebooks and training videos
Cons
  • The demo account doesn't allow all the platform options
Summary
AvaTrade is an FSCA regulated brokerage firm (FSP 45984) with offices and clients from around the world. With over 200,000 active traders around the globe, on both the MetaTrader 4 and AvaGo platforms, the award for Best Trade Execution by the African Finance Expo in 2016, AvaTrade is a good trading choice for South African traders.
Account Types9
Client Support & Onboarding8.5
Free Services8
Deposit & Withdrawal8

Avatrade Homepage

Is AvaTrade Safe?

With more than 200,000 registered clients globally, and more than 2,000,000 trades executed monthly, AvaTrade has accomplished incredible feats. AvaTrade is a leading player in the trading industry and has provided a reliable service since 2006 when AVA Trade EU Ltd was founded in Ireland. In South Africa, AvaTrade has offered an FSCA regulated service since 2015.

Ava Capital Markets (Pty) Ltd is regulated in South Africa by the FSCA (FSP 45984), licensed by MiFID from the European Union, regulated by the Central Bank of Ireland and ASIC (license: 406684) in Australia.

Some of AvaTrade’s recent awards include:

  • Best Trading Experience (Fxdailyinfo)
  • Best Forex Broker (FXEmpire)
  • Best Broker: Most Reliable (FXEmpire)
  • Best Bitcoin CFD Trading Provider of the year (The European)
  • Most Innovative Forex Broker Europe (Global Banking & Financial Review)
  • Best Alert System (Arabcomgroup – AG)

AvaTrade for Beginners

AvaTrade is a beginner-focused broker, for those who want to trade with one of the biggest names in the business.  AvaTrade offers educational material to get traders started, and helpful tools and analysis which serve to assist traders to find the best trading opportunities.  While customer support still remains 24/5, which is the same as 95% of most other brokers, high-quality support remains a priority.

Education Material

AvaTrade has a good range of education material to offer its clients, and much of it is designed for the beginner trader.  The beginners trading guide covers much of the basics, a video section for learners who prefer this format as well as an ebook that is good to print out and read when away from a keyboard.  The Sharp Trader website is perhaps the best replacement AvaTrade has for any analysis material to help traders find trading opportunities.

AvaTrade Beginners Trading Guide

AvaTrade’s ‘Trading for Beginners’ section gives you all the information you need to tackle forex and CFD instruments with confidence. In this section, traders can learn about many trading topics, including ‘What is forex’, ‘What is a pip’, ‘What is Metatrader?’, ‘MACD trading strategies’, ‘How to read a forex chart’, ‘Technical analysis’, and more.

Avatrade Video Education

Videos are often a great way to gain new knowledge about technical subjects. AvaTrade’s video section is strong and covers many different topics including Advanced Trading Tools, Beginner Lessons, Forex Trading Strategies, and more.

AvaTrade Ebook

Another fine piece of education material is AvaTrade’s Ebook that gives traders a good overview of basic forex terminology and the different groups of currency pairs available. The Ebook also explains how to read a forex quote and the advantages of forex trading.

AvaTrade Sharp Trader

Sharp Trader is an educational website that is free to use by AvaTrade clients. Here, traders can enjoy daily technical and fundamental analysis by some of AvaTrade’s experienced analysts. This website also supplies traders with a range of trading videos for all levels of trading knowledge. Of course, the site also has some trading tools like calculators, an economic calendar, etc.

AvaTrade Trading Tools

Autochartist is an award-winning automated technical analysis tool that works with MT4 and identifies trading opportunities across hundreds of financial instruments.

Autochartist’s advanced recognition engine identifies the strongest potential trading opportunities and predicts future price movements. Some of Autochartist’s key features are:

  • Chart pattern recognition
  • Fibonacci pattern recognition
  • Key level analysis
  • Pattern quality indication

Customer Support

AvaTrade’s clients have access to professional customer support, 24 hours a day, five days a week. The AvaTrade support team can be reached via telephone, live chat, and email. The languages in which clients can be served include English, French, Italian, Spanish, German, Portuguese, Arabic, Russian, Japanese, Chinese, and Taiwanese.

Trading Conditions

AvaTrade has a selection of trading instruments, including forex, commodities, stocks, indices, cryptocurrencies, bonds, and ETFs. Besides these, AvaTrade also has vanilla options, which is an uncommon feature with forex brokers. With competitive pricing, leverage up to 1:400 on forex pairs, AvaTrade should appeal to both the beginner and experienced trader.

AvaTrade Accounts Types

AvaTrade Demo Account

AvaTrade’s free demo account is a handy tool with which you can practice your trading, test an expert advisor, or acquaint yourself with how forex trading works. With $100,000 virtual funds, the demo account accurately simulates AvaTrade’s real account and will only expire after 21 days.

AvaTrade Regular Account

With only $100, you can gain real, live trading experience! AvaTrade’s regular trading account offers competitive spreads, dependable customer support, and access to a wide range of tradable instruments. Regular account holders enjoy progressive perks according to the amount they deposit. From $1,000 and upward, you get a liberal bonus of 20% on your deposit and 1-on-1 trading sessions with a personal account manager. Clients who deposit $2,000 or more will not only smile about their fat bonus ($400) but also because they gain free access to DupliTrade, which is a powerful copy trading platform. More about DupliTrade later on.

AvaTrade VIP Account

VIP accounts require a minimum deposit of $50,000. With this account, you will enjoy several privileges, including a personal account manager, faster withdrawals, better trading conditions, and of course, a massive $10,000 bonus! VIP clients also have access to DupliTrade. Just something to keep in mind – you can even reach VIP status by growing your account to $50,000 with profitable trading.
*The maximum bonus on deposits is $10,000.

Spreads and Commissions

At AvaTrade you can expect spreads as low as 0.7 pips (e.g. on the EUR/USD and USD/JPY), and there is no commission on trades, whatsoever. Of course, rollover (interest) may be charged (or earned) on certain positions that are held overnight.

Deposits and Withdrawals Fees

Ways to Deposit to AvaTrade

You can fund your AvaTrade trading account with:

  • Moneybookers (Skrill): $100 – $5,000
  • WebMoney: $100 – $5,000
  • Neteller: $100 – $5,000
  • Wire transfer: $500 minimum
  • Credit or debit cards: $100 to $20,000

How Fast are Deposits Processed?

  • E-payments are processed within 24 hours.
  • Wire transfers from offshore bank accounts (outside of South Africa) can take up to 7 business days to be processed.
  • Wire transfers from local South African banks will typically be cleared in under five business days.
  • First deposits with credit or debit cards can take up to 1 business day to reflect in your trading account due to the security verification process.

How to Withdraw Funds From AvaTrade

Due to anti-money laundering regulations, withdrawals can only be sent via payment methods with which you funded your account, except when profits have been made by trading and 200% of the initial deposit amount has already been withdrawn via the initial payment channel. Withdrawals are typically processed and sent within 1 to 2 business days. Once the withdrawal is processed, additional time may be required for you to receive it. Here are the different times according to the different payment channels:

  • For credit and debit cards – up to 5 business days.
  • For e-money – up to 24 hours.
  • For wire transfers – up to 10 business days (depending on the bank’s location).

AvaTrade Deposit and Withdrawal Fees

AvaTrade doesn’t charge clients for making deposits and withdrawals. The only costs are the bank card, e-wallet, or bank transfer fees.

AvaTrade Trading Platforms

AvaTrade’s trading platforms include the following:

AvaTrade MT4 Desktop and Webtrader

The MT4 trading platform is one of the most widely used forex trading platforms and can also be used to trade other instruments like commodities, cryptocurrency, stock index, and stock CFDs. One of the features that make MT4 popular is its auto trading feature that enables algorithmic trading and strategy backtesting with expert advisors (trading robots).

AvaOptions

With AvaTrade, you can also trade vanilla options! Options trading is exciting and provides traders with opportunities to benefit from more than just the 2-dimensional nature of forex trading. You can trade vanilla options on more than 40 currency pairs, gold, and silver. Don’t forget that even with an AvaOptions demo account, the AvaTrade support team is there to assist you while you learn the ropes.

DupliTrade and ZuluTrade – Automated Copy Trading Platforms

With a minimum deposit of $2,000, traders can gain access to DupliTrade, which is a copy trading platform that is linked to your MT4 trading platform. DupliTrade allows you to automatically duplicate the actions of expert traders (with proven histories) directly into your AvaTrade trading account.

Your MT4 trading account can also be linked to a ZuluTrade account, which is also used for copy trading.

*AvaTrade’s MT4 MAM accounts can also be used for copying trades from a master trading account to an unlimited number of ‘copying’ accounts.

Mobile Trading App

For those traders who are often on the move, AvaTradeGO is a choice mobile trading platform. It is available for Android and iOS devices and has a user-friendly, advanced, and intuitive home screen. With AvaTradeGO, you can open and manage several MT4 accounts on the same control panel.

Compare Avatrade

Avatrade Vs. CM Trading

 AvaTradeCM Trading
FundingBank wire, Visa/Mastercard, PaypalBank wire, Visa/Mastercard,Skrill, CashU
RegulatedFSCA No.45984, ASIC, FCA, BVI, FFAJFSCA No.38782
Broker TypeMarket MakerMarket Maker
Currency Pairs50+47
Minimum Spread0.7 pips1.5 pips
Minimum Deposit$100$250
Max Leverage400:1200:1
Expert ReviewRead reviewRead review
Visit WebsiteVisit AvaTradeVisit CM Trading

Avatrade Vs. FXTM

 AvaTradeFXTM
FundingBank wire, Visa/Mastercard, PaypalBank wire, Visa/Mastercard, Skrill & Western Union, Neteller and many more
RegulatedFSCA No.45984, ASIC, FCA, BVI, FFAJFSCA No.46614, FCA, CySEC, IFSC
Broker TypeMarket MakerECN/STP
Currency Pairs50+59
Minimum Spread0.7 pips0.1 pips
Minimum Deposit$100$10
Max Leverage400:1Flexible
Expert ReviewRead reviewRead review
Visit WebsiteVisit AvaTradeVisit FXTM

Evaluation Process

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the AvaTrade offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

AvaTrade Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients.  AvaTrade would like you to know that:  CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall

We investigated AvaTrade, and find them to be an outstanding broker. The only matter that disappoints was that AvaTrade charges an ‘inactive account fee’ of $25 on trading accounts that have been dormant for three months or longer. For accounts denominated in other currencies, it is 25 units of the particular base currency. Accounts that lie dormant for more than a year may also be charged an administration fee. If you plan on trading frequently, you don’t need to worry about this.

What we like most about AvaTrade are:

  • Transaction fees are low.
  • The variety of tradable instruments is impressive.
  • Trading platforms choice is healthy and varied.
  • Customer support is definitely up to standard.
  • Trading education is excellent.
  • Trading tools are pretty decent, especially Autochartist!
  • Clients’ deposits are safe (held in segregated accounts).

 

Jeffrey Cammack Administrator
Editorial Director at TradeForexSA
Jeff Cammack is the Editorial Director, a Forex trader since 2008, and educator. Always in search of new trading opportunities, Jeff can always be found doing research in the charts or combing through the financial news. When not trading, he is always researching his next article.
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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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