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AvaTrade Broker Review

FX Scouts By Jeffrey Cammack Updated: May 28, 2020
Overall Rating
4.18 / 5
Min. DepositUSD 100
Max. Leverage30:1
Min. Spread0.9 pips
Regulators ASIC,FSCA,B.V.I FSC,FSA
Regulator Origin ASIC FSCA B.V.I FSC FSA
Trading Desk Type

Summary

Good value, beginner-friendly and hugely respected all over the world, AvaTrade is one of the most reputable brokers in the industry. With support for the leading trading platforms, great trading conditions on Islamic accounts and top-quality multilingual support, AvaTrade has built a brand on a solid reputation and continues to please its many new and existing customers.  

AvaTrade offers trading in Forex, commodities, cryptocurrencies, exchange-traded funds, options, bonds, and equities and is a good choice for any type of forex trader ranging from beginners to scalpers and intraday traders to long-term traders.

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
Beginner Friendly Standard
Bonuses 40% Welcome Bonus
Our Review Process

Trading Conditions

Minimum DepositUSD 100
Base currenciesUSD, GBP, EUR, AUD
Number of FX Pairs50+
Hedging Allowed Yes
Scalping Yes
Islamic Account Yes

Average Spreads

EUR / USD0.9
GBP / USD1.6
USD / JPY1.1

Company Details

Company nameAVA Trade EU Ltd
Founded2006
Website www.avatrade.co.uk
Type Market Maker
Regulators ASIC,FSCA,B.V.I FSC,FSA
Office locations Australia, Ireland, South Africa, Japan, British Virgin Islands

Deposit & Withdrawal Methods

Supported Platforms for AvaTrade

Account Types

AvaTrade has a live account, with an islamic account option, and demo account.

Traders opening live accounts can choose from four types which include the Silver account, Gold account, Platinum account and Ava Select account.  Each comes with different minimum deposit.

  • The Silver account requires a minimum deposit of $100
  • The Gold account requires a minimum deposit of $1000
  • The Platinum account requires a minimum deposit of $10,000
  • Ava Select account requires a minimum deposit of $100,000

Each live account has access to the core set of AvaTrade services.  AvaTrade offers trading webinars and courses as well as access to live market news and trading signals.  

AvaTrade is a good broker for beginners and advanced traders alike.

Islamic Account

AvaTrade offers an Islamic account to traders of the muslim faith.  In order to set up an Islamic account, the trader needs to follow these steps.

  1. Sign up for a real account
  2. Complete the KYC process that includes submitting a copy of your passport or national ID and a recent proof of residential address.  
  3. Make a deposit to fund the account.
  4. Contact your account manager to request that the account to be converted to an Islamic account.  This process will take 1-2 business days.

Traders are not able to trade cryptocurrencies using an Islamic account. This is mainly due to the way the trading is set up, and AvaTrade cannot make the guarantee that interest is generated.  If you do wish to trade cryptocurrencies, you will need to give up the Islamic Account privileges.

Trading Platforms

AvaTrade provides a variety of trading platforms for forex traders. Some of these include:

  • MetaTrader 4 – The standard and single best trading software available to traders.  An MT4 Floating Spreads account is available where liquidity is taken directly from the market.
  • MetaTrader 5 – The latest version of the MetaTrader family, that introduces multi-asset trading, faster transaction speeds and a modernised graphical interface.
  • AvaTradeAct – A custom software for those who want to trade in the browser.  It includes all the features AvaTrade has enabled in their accounts and is continually getting updates to improve the trading experience.
  • Mobile – Both an IOS & Android app is available for those who want to be able to monitor trades while away from a computer.  Although I never see a mobile application replacing the desktop, these apps are important in enabling traders to work while doing other things.
  • Automated Trade – A number of automated trading options are available with AvaTrade accounts.  Each of them enables the trader to copy the trades of other successful traders.  Options for automated trading include (but are not limited to) DupliTrade, Robox & ZuluTrade.  Please take caution using these connectors as it opens your trading account to risk.

Account Funding

Deposits

AvaTrade has allowed the use of a number of money transaction methods when it comes to depositing and withdrawing money from your AvaTrade account. The allowed methods of transacting money include Bank Wire Transfers, PayPal, Neteller, Moneybookers, Ava Debit Card, and WebMoney.

Withdrawals

To withdraw funds from your AvaTrade account, the account must be verified.  This is a process required by regulators, and includes submitting identity documents and a recent proof of residency.  If your account is verified, complete a withdrawal request from inside you account.

It takes 24-48 business hours for a withdrawal to be processed by AvaTrade, provided the account is verified.  The minimum withdrawal amount is 1 USD. 

AvaTrade does not charge a fee for withdrawal, but the receiving bank may charge an administration fee on incoming payments.

Company & Regulation

AvaTrade is regulated by the Central Bank of Ireland, Australian Securities & Investment Commission (ASIC), British Virgin Islands Financial Service Commission (B.V.I), Financial Futures Association of Japan, Securities Commission Malaysia and the Financial Sector Conduct Authority (FSCA) in South Africa.

AvaTrade was founded in 2006 and its headquarters are in Dublin, Ireland. It also has other offices in Japan, France, China, Italy, South Africa, and Australia enabling them to provide quality customer service and account management in most time zones where they have traders active.

Other AvaTrade features

  • AvaTrade offers several important forex trading tools which include: Expert Advisors (EA) on MT4, Trading Central and a Direct Dealing Room Support.
  • AvaTrade also offers forex education materials like Webinars, Videos, Guides, Daily News, Demos and Technical Analysis.
  • AvaTrade also provides their retail forex traders with Personal Account Manager so you have a reliable point of contact for all your needs.
  • The AvaTrade Customer Service is open for 24-hours for the five working days that the market is open.

Most retail CFD accounts lose money. Your capital is at risk.

Compare CFD Brokers

Overall Rating 4.18 / 5 4.43 / 5 3.33 / 5
Minimum DepositUSD 100USD 10USD 200
Regulation
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
CySEC CySEC
FCA FCA
FSCA FSCA
FSC FSC
CySEC CySEC
FCA FCA
ASIC ASIC
Trading Desk Type
Trading InstrumentsCommodities, Cryptocurrencies, Forex, Indicies, Equities, ETFsCommodities, Cryptocurrencies, Forex, Indicies, Metals, EquitiesCommodities, Cryptocurrencies, Forex, Indicies, Equities
Forex Pairs50+5947
Crypto Pairs18316
Pros
  • Good for beginners
  • Well regulated
  • Low minimum deposit
  • Good for beginners
  • Excellent education
  • Well regulated
  • Low minimum deposit
  • Well regulated
  • Good for beginners
  • Innovative trading tools
Cons
  • Dealing desk
  • Limited education
  • Expensive withdrawals
  • Limited education
  • Wide spreads
Read Full Review Read Full Review
Trust Rating 4 / 5 5 / 5 5 / 5
Trading Conditions 5 / 5 3.5 / 5 2 / 5
Trading Platforms 4.5 / 5 4.5 / 5 4 / 5
Deposit & Withdrawal 4.5 / 5 4 / 5 2 / 5
Education & Research 2 / 5 5 / 5 1.5 / 5
Assets Available 4.5 / 5 4.5 / 5 4 / 5
Customer Service 4 / 5 5 / 5 4 / 5
% Lose with this broker 71% of retail investor accounts lose money when trading CFDs with this provider 83% of retail investor accounts lose money when trading CFDs with this provider 62% of retail investor accounts lose money when trading CFDs with this provider
Leverage30:1Flexible30:1
Spread0.9 pips0.1 pips2.0 pips
Hedging Yes Yes Yes
Scalping Yes Yes No
Account Types
  • Retail (Standard)
  • Standard Account (Standard)
  • Standard (Standard)
Islamic Account Yes Yes Yes
Trading Platforms MT4, MT5 MT4, MT5 etoro
Funding Methods POLi, Visa, Mastercard, Skrill, Neteller, Paypal, Bank Transfer Bank Transfer, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay Visa, Mastercard, Neteller, Unionpay, Skrill, Paypal
Trading Commission Fees Included in Spread 4 USD / ECN Accounts Fees Included in Spread
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Overall Rating 4.18 / 5 4.43 / 5 3.33 / 5
Minimum DepositUSD 100USD 10USD 200
Regulation
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
CySEC CySEC
FCA FCA
FSCA FSCA
FSC FSC
CySEC CySEC
FCA FCA
ASIC ASIC
Trading Desk Type
Trading InstrumentsCommodities, Cryptocurrencies, Forex, Indicies, Equities, ETFsCommodities, Cryptocurrencies, Forex, Indicies, Metals, EquitiesCommodities, Cryptocurrencies, Forex, Indicies, Equities
Forex Pairs50+5947
Crypto Pairs18316
Pros
  • Good for beginners
  • Well regulated
  • Low minimum deposit
  • Good for beginners
  • Excellent education
  • Well regulated
  • Low minimum deposit
  • Well regulated
  • Good for beginners
  • Innovative trading tools
Cons
  • Dealing desk
  • Limited education
  • Expensive withdrawals
  • Limited education
  • Wide spreads
Read Full Review Read Full Review
Trust Rating 4 / 5 5 / 5 5 / 5
Trading Conditions 5 / 5 3.5 / 5 2 / 5
Trading Platforms 4.5 / 5 4.5 / 5 4 / 5
Deposit & Withdrawal 4.5 / 5 4 / 5 2 / 5
Education & Research 2 / 5 5 / 5 1.5 / 5
Assets Available 4.5 / 5 4.5 / 5 4 / 5
Customer Service 4 / 5 5 / 5 4 / 5
% Lose with this broker 71% of retail investor accounts lose money when trading CFDs with this provider 83% of retail investor accounts lose money when trading CFDs with this provider 62% of retail investor accounts lose money when trading CFDs with this provider
Leverage30:1Flexible30:1
Spread0.9 pips0.1 pips2.0 pips
Hedging Yes Yes Yes
Scalping Yes Yes No
Account Types
  • Retail (Standard)
  • Standard Account (Standard)
  • Standard (Standard)
Islamic Account Yes Yes Yes
Trading Platforms MT4, MT5 MT4, MT5 etoro
Funding Methods POLi, Visa, Mastercard, Skrill, Neteller, Paypal, Bank Transfer Bank Transfer, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay Visa, Mastercard, Neteller, Unionpay, Skrill, Paypal
Trading Commission Fees Included in Spread 4 USD / ECN Accounts Fees Included in Spread

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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.

Visit AvaTrade

Most retail CFD accounts lose money. Your capital is at risk.

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