AvaTrade Review 2020

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Contents

AvaTrade Review

While AvaTrade provides multiple platforms for algorithmic and social copy-trading, the broker’s overall client experience trails industry leaders. Customer service is terrible, pricing is just average, less than 1000 instruments are available to trade, and research is underwhelming.

Top Takeaways for 2020

After spending five months testing 30 of the best forex brokers for our 4th Annual Review, here are our top findings on AvaTrade:

  • Founded in 2020, AvaTrade is regulated in three tier-1 jurisdictions and three tier-2 jurisdictions, making it a safe broker (low-risk) for forex and CFDs trading.
  • Alongside MetaTrader, AvaTrade offers its proprietary web platform, as well as ZuluTrade and DupliTrade, for social copy trading. The variety of platform options makes AvaTrade competitive in this area.
  • AvaTrade offers terrible phone service. Also, compared to pricing leaders such as CMC Markets and FOREX.com, AvaTrade does not rank among the best brokers for low cost trading.

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Overall Summary

Feature AvaTrade
Overall 3.5 Stars
Trust Score 93
Offering of Investments 3.5 Stars
Commissions & Fees 4 Stars
Platform & Tools 3.5 Stars
Research 3.5 Stars
Mobile Trading 3 Stars
Customer Service 1 Stars
Education 4 Stars

Is AvaTrade Safe?

AvaTrade is considered low-risk, with an overall Trust Score of 93 out of 99. AvaTrade is not publicly-traded and does not operate a bank. AvaTrade is authorised by three tier-1 regulators (high trust), three tier-2 regulators (average trust), and two tier-3 regulators (low trust). AvaTrade is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Japanese Financial Services Authority (JFSA), and via Friedberg Direct, with the Investment Industry Regulatory Organization of Canada (IIROC). Learn more about Trust Score.

Feature AvaTrade
Year Founded 2006
Publicly Traded (Listed) No
Bank No
Tier-1 Licenses 3
Tier-2 Licenses 3
Tier-3 Licenses 3
Trust Score 93

Offering of Investments

While it still trails many brokers in the multi-asset category, AvaTrade continues to expand its range of markets, scope of trading tools, and the number of licenses under its regualtory umbrella. The following table summarizes the different investment products available to AvaTrade clients.

Feature AvaTrade
Forex: Spot Trading Yes
Currency Pairs (Total Forex pairs) 60
CFDs – Total Offered 681
Social Trading / Copy-Trading Yes
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

Commissions & Fees

Overall, AvaTrade’s spreads are not its most competitive feature, as the average spreads on its variable pricing are higher than those of its top pricing competitors CMC Markets and FOREX.com.

Spreads: With variable pricing, AvaTrade offers typical spreads of 0.9 pips (median value derived from spreads during trading hours – 7:00-18:00 GMT – for the four weeks ending November 28th, 2020). Compared to our testing last year, AvaTrade’s spreads had slightly improved although it’s worth mentioning that AvaTrade also reintroduced fixed spread pricing which helped reduce its spreads.

Feature AvaTrade
Minimum Initial Deposit $100.00
Average Spread EUR/USD – Standard 0.92 (Dec 19)
All-in Cost EUR/USD – Active 0.62 (Dec 19)
Active Trader or VIP Discounts Yes

Platforms & Tools

AvaTrade offers a proprietary platform, multiple third-party trading platforms for copy trading, including ZuluTrade and Tradency, as well as MetaTrader 4 (MT4) (and in select locations MT5).

AvaTrade web: The AvaTrade web platform is easy to use. Unfortunately, it also is elementary, offering limited charting capabilities and only a handful of trading features. As far as proprietary platforms go, IG, Saxo Bank, and Dukascopy are our undisputed kings for 2020.

Copy-trading: AvaTrade finished Best in Class for social copy trading in 2020, with multiple platforms on offer. AvaTrade’s steady progress in this category has helped to elevate it closer to industry leaders such as eToro, Pepperstone, and Darwinex.

Research

AvaTrade has just an okay offering of research tools across multiple channels, including DupliTrade, a social-copy trading platform, and the cPattern indicator available as a plugin for MT4.

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Trading signals: Copy trading platforms aside, the main highlight from AvaTrade’s research offering is AutoChartist. With a popular set of pattern-recognition tools for technical and fundamental analysis, AutoChartist helps traders find trending opportunities and is available at AvaTrade for live account holders who deposit at least $500.

Market analysis: With SharpTrader, users can find daily and weekly technical and fundamental analysis articles published daily from a team of analysts, along with integrated tools from external providers. However, during our testing, we saw it had been over seven months since a market video update was posted.

Mobile Trading

Besides offering MT4, AvaTrade also provides the AvaTradeGO app as its primary proprietary mobile trading platform, along with its more recently launched AvaOptions app for trading forex options.

AvaTradeGo: The AvaTradeGo app closely resembles its web-counterpart and comes with a robust set of default watchlists, and a volatility protection feature called AvaProtect (which uses a forex option to allow traders to reduce risk by partially hedging their trade). Charting comes with 93 indicators, which are plenty for technical analysis. Yet, there is no fundamental news or related research content, leaving an otherwise unbalanced offering in the AvaTradeGo experience, compared to industry leaders such as Dukascopy.

Forex Options: For someone experienced with options trading, the AvaOptions mobile app removes the need to read a traditional options chain, by reinventing how traders can select their desired strike price, time-horizon, and strategy, from a single screen. While I am thoroughly impressed with what AvaTrade has done with the AvaOptions app in terms of the UI/UX designs, the payoff diagrams depicted visually are hard to understand and could use explanatory notes. Nonetheless, with 14 default options trading strategies available, merely selecting a strategy will automatically populate the order-ticket with the related options contracts. And traders can change the strike price by dragging it higher or lower, along with selecting a different expiration date, all impressive features for trading forex options via mobile.

Customer Service

To score Customer Service, ForexBrokers.com partnered with customer experience research group Customerwise to conduct phone tests from locations throughout the UK. For our 2020 Review, 330 customer service tests were conducted over six weeks.

Results

  • Average Connection Time: >5 minutes
  • Average Net Promoter Score: 1.5 / 10
  • Average Professionalism Score: 1.3 / 10
  • Overall Score: 1.63 / 10
  • Ranking: 21 st (22 brokers)

Other notes

While not directly regulated in Canada, AvaTrade caters to clients in the country through its partnership with Friedberg Direct, which required regulatory approval.

Final Thoughts

AvaTrade offers traders multiple platforms through its regulated brands, providing traders with a wide range of options for using trading tools across a limited range of markets. Compared to the best forex brokers, AvaTrade left us unimpressed.

About AvaTrade

Founded in 2006, AvaTrade has offices in 11 countries and provides multiple trading platforms for web, desktop, and mobile devices, offering spot forex and forex options and CFDs on numerous asset classes, including cryptocurrencies.

AvaTrade is regulated in major regulatory hubs across the globe. AvaTrade’s headquarters is in Ireland, where its regulator is the Central Bank of Ireland and is a member of the Investor Compensation Company DAC (ICCL), which provides eligible clients up to EUR 20000 of maximum reimbursement in the extraordinary event of their broker’s insolvency.

AvaTrade Trading Features

Feature AvaTrade
Virtual Trading (Demo) Yes
Proprietary Platform Yes
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) Yes
cTrader No
Charting – Indicators / Studies (Total) 51
Charting – Drawing Tools (Total) 31
Charting – Trade From Chart Yes
Watchlists – Total Fields 7
Order Type – Trailing Stop Yes

AvaTrade Research Features

Feature AvaTrade
Daily Market Commentary Yes
Forex News (Top-Tier Sources) No
Weekly Webinars No
AutoChartist Yes
Trading Central (Recognia) No
Delkos Research No
Social Sentiment – Currency Pairs No
Economic Calendar Yes

AvaTrade Mobile App Features

Feature AvaTrade
Android App Yes
Apple iOS App Yes
Trading – Forex Yes
Trading – CFDs Yes
Alerts – Basic Fields Yes
Watch List Yes
Watch List Syncing No
Charting – Indicators / Studies 30
Charting – Draw Trend Lines Yes
Charting – Trend Lines Moveable Yes
Charting – Multiple Time Frames Yes
Charting – Drawings Autosave No
Forex Calendar No

2020 Review Methodology

For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers over a five month time period. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

“There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.” Learn more.

Avatrade Review and Tutorial 2020

Go to the Brokers List for alternatives

Avatrade Facts & Figures

Leading forex and CFD broker regulated in Ireland, Australia, Canada and South Africa. Avatrade are particularly strong in integration, including MT4

Awards
• Best Forex Broker 2020 – DayTrading.com

Avatrade offer 50+ currency pairs and their spreads are some of the best among any broker. They are regulated across 5 continents.

Regulated in 5 continents, Avatrade offer a very secure way to access Crypto markets. They offer a great range of Crypto, very tight spreads, and 1:2 leverage. [Not available in Canada]

Instruments CFD, Forex, Crypto, Stocks, Options
Demo Account Yes
Min. Deposit $100
Min. Trade $1
Regulated By CBoI, ASIC, FSB
MT4 Integration Yes
Mobile Apps iOS and Android
Auto Trading Avatrader make auto trading easy with API integration into numerous platforms including MetaTrader4, Duplitrade and MQL5
Trade Signals No
Islamic Account Yes
CFD
FTSE Spread 0.5 pt
GBPUSD Spread 1.0 var
Oil Spread 0.02
Stocks Spread 0.13 Abv Market
Forex
GBPUSD Spread 1.0 var
EURUSD Spread 0.7 var
EURGBP Spread 1.7 var
Assets 40+
Cryptocurrency
Spread BTC 1% ETH 2%
Coins BCH, BTC, BTG, ETH, LTC, XRP, EOS, DASH

AvaTrade is a leading international forex broker, and are part of the AVA Group of companies. Being founded in 2006, AvaTrade is one of the oldest online brokerages. Our review details the trading platforms, mobile app, deposit methods, and MT4 integration. We also compare trading costs, spreads and leverage. From Bitcoin to vanilla options, whatever you want to trade, see if Avatrade will suit you.

The company now has four offices around the world, located in Japan, Australia, Ireland, and the British Virgin Islands. As one of the largest and most respected online brokerages in the world, AvaTrade accepts clients from a huge range of regions, and accepts trading accounts in a variety of currencies.

The firm also recently announced a major partnership with English Premier League Champions Manchester City, underlining the brands growth and visibility.

Regulation & Reputation

Choosing a forex broker that is regulated by a reputable regulatory agency is of the utmost importance, for regulated status helps to ensure a company’s trustworthiness and competence. AvaTrade is most definitely a reputable firm, being regulated by several authorities from around the world.

  • In Europe, the broker is regulated by the Central Bank of Ireland under license #C53877.
  • In Australia, the broker is licensed by the ASIC under license #406684.
  • In Japan, the broker is licensed by the FSA under license #1662 and the FFA under license #1574.
  • In South Africa, the broker is licensed by the FSB under license #45984.

AvaTrade is among the best online brokerages in the industry in terms of reputation and reliability, and you can trade with confidence. The company has won numerous awards for “Best Customer Support”, “Best Alert System”, “Best Financial Derivative Trading Provider”, and “Best Forex Broker YEAR

The firm have also now opened up the market in Canada via a collaboration with Friedberg Direct. Friedberg Direct is a division of Friedberg Mercantile Group Ltd., a member of the Investment Industry Regulatory Organization of Canada (IIROC), the Canadian Investor Protection Fund (CIPF), and most Canadian Exchanges. Friedberg Mercantile Group Ltd. is headquartered at 181 Bay St., Suite 250, Toronto, ON M5J 2T3, Canada.

Types of Trading Platforms Available

One of the most impressive aspects of AvaTrade is the number of trading platforms available to traders. There is literally something for everyone here, whether you’re a beginner, seasoned trading veteran, or something else. The following platforms offered by AvaTrade are:

  • MetaTrader 4 platform
  • MetaTrader 5 platform
  • Meta Trader for Mac
  • Meta Trader for mobile trading (Download the Avatrade app directly here)
  • Meta Trader for web trading
  • The AvaTradeAct platform (Proprietary Platform)

Avatrade Trading Platform For Mac

In addition to these platforms, AvaTrade features various automated trading software to suit every person’s needs. The following are:

  • RoboX
  • Mirror Trader
  • MQL5 Signal Service
  • API Trading
  • Duplitrade

Trading Accounts Offered

AvaTrade keeps things simple with their accounts by offering only two account types to most traders. A standard account and a demo account. Standard accounts can be opened with as little as $100 using credit cards or with $500 via wire transfer.

In addition to the two standard accounts, Muslim traders are accommodated by offering ‘swap free accounts’ that operate in accordance to the Islamic Sharia Principle of interest free trading.

As well, professional traders can open up MAM accounts to easily manage several accounts for their clients. These types of accounts include the following features:

  • Ability to create multiple sub trading groups
  • All MT4 order types such as stops, limits and close are available
  • Expert Advisors (EAs) compatible
  • Minimum lot at 0.01 lots
  • Multiple allocation parameters
  • Order placements for unlimited client accounts
  • Trade order placements from a master account

Bonuses & Promos

Bonuses may be available dependent upon geographical location; please contact AvaTrade for more information.

Instruments & Assets

AvaTrade excels once again at offering traders a wide array of financial trading instruments. Investors are free to trade:

  • Forex – Over 50 currency pairs available, including all majors, minors, and many exotics available 24 hrs a day, 7 days a week. Traders can enjoy competitive spreads as low as 0.8 pips, and leverage up to 400:1.
  • Cryptocurrency – (Not available in Canada) – Traders can trade 9 different cryptocurrencies with up to 20:1 leverage. These now include Ripple, Ethereum, Bitcoin and Bitcoin cash.
  • Indices, Bonds, Stocks, ETFs & Commodities – Traders of AvaTrade enjoy the highest of leverage along with very competitive and low spreads for trading these financial assets.
  • Options – Avatrade have made trading options accessible for traders of all experience levels. The new options trading platform reduces the complexity of vanilla options and opens up a range of opportunities for those curious about using the product.

Avatrade have made options trading less daunting.

Customer Support

AvaTrade offers excellent customer support via several multilingual options. The options include live chat, email, FAQ page, social media, fax and through telephone. Telephone support is offered in a number of languages and countries throughout the world, including 21 different countries throughout Europe, 2 countries in Africa, 6 countries across Asia, 4 countries across South America, 2 countries in the Middle East and Australia.

The support offered is prompt and informative from local customer support representatives. The recent partnership in Canada for example, gives customers access to customer services of locally based Friedberg Direct.

Deposit & Withdrawal

Deposits – AvaTrade offers their clients a variety of deposit options. Traders may fund their accounts with credit cards (VISA, MasterCard, debit), Bank Wire Transfers, and numerous forms of E-Wallets such as Paypal, Skrill, NETELLER and WebMoney. The minimum initial deposit for opening up an account is only $100.

Withdrawals – Traders can withdraw their funds via the same methods used for deposits. Withdrawal requests will take up to 5 business days to process. Once processed, withdrawals will be completed as soon as the methods allow them to be completed. The fastest method of withdrawal is by using the Ava Debit Mastercard, which traders can apply for once signed up for an account.

AvaTrade Day Trading Tools

Education – AvaTrade has an exceptional education center. It may be the best one we’ve ever seen, complete with videos, eBooks, tutorials, glossaries, and more. There is a whole section on their website dedicated to educating their traders. As well, the whole site in general is very informative for day traders.

Trading Tools – AvaTrade has an abundance of features dedicated to successful day traders. One of their most impressive features is their automated trading software bundles which is exceptional for day trading.

Range of assets – There is a massive array of assets to choose from, which makes this brokerage great for day traders who are just beginning or seasoned veterans.

Free Trading Coaching Course – The recent promotion of the partnership with Manchester City Football Club included some free trading courses. Specific details can be found here: MCFC Online trading course

Avatrade Spreads

Examples of the variable spreads at AvaTrade;

Spreads are competitive at Avatrade, and they are constantly working to reduce them further. Particularly in the crypto market, the firm have made huge strides. Just recently spreads on cryptocurrency trades were slashed by 50% – but an announcement has revealed they have been trimmed by another third. As brokers gain confidence in the liquidity of the markets, they can be braver with spreads.

Login and trade via the Avatrade app.

Accepted Countries

Avatrade accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use Avatrade from United States, Belgium, Zimbabwe, Iran, Iraq, India, Pakistan.

Is Avatrade legitimate?

Yes. Avatrade are legitimate forex and CFD brokers. The brand is regulated around the world, including in Europe, Australia and South Africa.

Are Avatrade Regulated?

Yes, the brand is regulated around the world:

AVA Trade EU Ltd is regulated by the Central Bank of Ireland.
Ava Capital Markets Australia Pty Ltd is regulated by the ASIC.
Ava Capital Markets Pty is regulated by the South African Financial Sector Conduct Authority (FSCA ).
Ava Trade Japan K.K. is regulated in Japan by the FSA (No.1662) and the FFAJ (No.1574).

What is the minimum deposit for Avatrade?

An Avatrade account can be opened with $100 (or £100 or €100).

Is Avatrade a market maker?

No. Avatrade are a broker, not market makers.

How long does it take to withdraw from Avatrade?

Avatrade process withdrawals within 1 day. Different withdrawal methods can sometimes take longer for funds to actually clear however.

Credit/Debit Cards – up to 5 business days
E-wallets – 24 hours
Wire Bank Transfers – up to 10 business days

Wire transfer delays often depend on the Country and bank in question.

What is Avatrade leverage?

Leverage at Avatrade will vary by asset, and the Country of origin of the trader.

Higher leverage may be possible with a professional account if traders are based in Europe.

What methods can I use to deposit funds at AvaTrade?

Deposits can be made through credit cards (VISA, MasterCard, debit), Bank Wire Transfers, and numerous forms of E-Wallets such as Paypal, Skrill, NETELLER and WebMoney.

AvaTrade Review 2020

Summary

Recommended for forex and CFD traders looking for an option to use MetaTrader platforms

AvaTrade is a g lobal CFD and FX broker founded in 2006. It is regulated by several financial authorities, such as the Central Bank of Ireland.

Disclaimer: 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.

AvaTrade pros and cons

The account opening is easy and fully digital. AvaTrade offers various deposit and withdrawal options which are free of charge. It also has great educational tools.

The product portfolio is limited as it offers only CFDs, forex, and cryptos. Research tools are limited as trading ideas, fundamental data, and news feed are not provided. The phone support is poor.

Pros Cons
• Easy and fast account opening • Only CFDs, forex, and cryptos offered
• Free and multiple deposit and withdrawal options • Limited research tools
• Great education tools • Phone support is not responsive
AvaTrade main features and highlights
��️ Country of regulation Ireland, Australia, Japan, South Africa, British Virgin Islands
�� Trading fees class Low
�� Inactivity fee charged Yes
�� Withdrawal fee amount $0
�� Minimum deposit $100
�� Time to open an account 1 day
�� Deposit with credit card Available
�� Depositing with electronic wallet Available
�� Number of base currencies supported 5
�� Demo account provided Yes
��️ Products offered Forex, CFD, Crypto

Gergely Korpos

Author of this review

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

AvaTrade review
Fees

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

Pros Cons
• Low trading fees • Inactivity fee
• No withdrawal fee • Administration fee
AvaTrade fees snapshot
Assets Fee level Fee terms
S&P 500 CFD Low The fees are built into spread, 0.5 is the average spread cost.
Europe 50 CFD Low The fees are built into spread, 1 pips is the average spread cost.
EURUSD High The fees are built into spread, 0.9 pips is the average spread cost.
Inactivity fee High $50 per quarter after 3 months of inactivity

We ranked AvaTrade’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on trading fees, and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

Below you will find the most relevant fees of AvaTrade for each asset class. For example, in the case of forex and stock index trading spreads, commissions and financing rates are the most important fees.

We also compared AvaTrade’s fees with those of two similar brokers we selected, XM and Plus500. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of AvaTrade alternatives.

To have a clear overview of AvaTrade, let’s start with the trading fees.

AvaTrade trading fees

AvaTrade trading fees are average. The fee structure is transparent and easy to calculate.

We know it is hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all fees of a typical trade for selected products.

We have chosen popular instruments within each asset class:

  • Stock index CFDs: SPX and EUSTX50
  • Stock CFDs: Apple and Vodafone
  • Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP

A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used is

  • 20:1 for stock index CFDs
  • 5:1 for stock CFDs
  • 30:1 for forex

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let’s see the verdict for AvaTrade fees.

CFD fees

AvaTrade has generally average CFD trading fees.

CFD fees for a $2,000 long position held for one week

AvaTrade XM Plus500
S&P 500 CFD benchmark fee $0.9 $2.4 $2.1
Europe 50 CFD benchmark fee $0.6 $2.4 $1.3
Apple CFD benchmark fee $4.1 $3.4 $8.9
Vodafone CFD benchmark fee $6.1 $5.6 $7.6

AvaTrade index CFD fees are very competitive after checking their competitors, XM and Plus500. In the same time, the stock CFD trading fees are at the average level.

Forex fees

AvaTrade forex fees are average.

Forex benchmark fees of a $20,000 30:1 long position held for one week

AvaTrade XM Plus500
EURUSD benchmark fee $19.2 $17.1 $17.9
GBPUSD benchmark fee $15.7 $13.8 $14.0
AUDUSD benchmark fee $12.0 $13.9 $12.6
EURCHF benchmark fee $8.5 $9.1 $9.0
EURGBP benchmark fee $14.0 $12.2 $14.6

For all major currency pairs we compared above, AvaTrade fees are average benchmarked with their competition. Forex trading fees are built in the spreads.

Forex fees are transparent and predictable. AvaTrade supports the clarity with Forex Calculator that allows you to calculate your next forex position in 5 simple steps:

1. Enter the instrument you wish to trade

2. Set your account currency

3. Insert the leverage level

4. Decide whether to buy or sell

5. Select the trading platform (MetaTrader4 or AvaTradeGO)

Non-trading fees

AvaTrade has average non-trading fees.

AvaTrade doesn’t charge any account fees and deposits and withdrawals are free of charge. On the negative side, AvaTrade has an inactivity fee of $50 per quarter after 3 consecutive months of inactivity – this is in line with some of its competitors. On top of that, after 12 consecutive months of non-use, an administration fee of $100 will be deducted from the value of the account.

AvaTrade non-trading fees

AvaTrade XM Plus500
Account fee No No No
Inactivity fee Yes Yes Yes
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0

AvaTrade review
Account opening

Account opening at AvaTrade is seamless and fully digital. You can start trading literally in minutes.

Pros Cons
• Fast None
• Fully digital
• Low minimum deposit

Can you open an account?

Visit broker
71% of retail CFD accounts lose money

Almost all countries are accepted AvaTrade with some exceptions like the U.S., Belgium, Iran, Israel, and some others.

What is the minimum deposit at AvaTrade?

The required AvaTrade minimum deposit is $100 for credit/debit cards, but $500 for bank transfers. As usual, you deposit this amount after the account creation so you can test all platforms to make sure it fits your needs.

Account types

The types of accounts available at AvaTrade are

  • Standard account – account is owned by an individual
  • Corporate account – account is owned by a legal entity
  • Islamic account – swap-free account which means that it doesn’t charge swaps for the account

If you are an experienced trader, you can request AvaTrade to open a Professional Trading account for you, where the leverage is higher than the Standard account. This requires that you have relevant experience in the financial sector, sufficient trading activity in the past 12 months and hold at least 500k portfolio value.

As an additional account type, they also provide a demo account. It is ideal to test and simulate your trading strategy.

How to open your account

Creating an account is easy and quick, just like with other CFD/Forex brokers:

  1. Input some of your basic personal data (you can use one of your social profiles like Facebook or Google, too)
  2. Answer a couple of questions that assess your level of understanding in trading
  3. Verify your identity and residency by uploading either a copy of your ID card, driving license or passport and uploading a copy of your recent utility bill or bank statement.

What is the minimum deposit at AvaTrade?

Account types

How to open your account

AvaTrade review
Deposit and withdrawal

AvaTrade deposit and withdrawal are free and can be done by using several methods. On the flip side, the withdrawal took us more than 3 business days.

Pros Cons
• Free withdrawal • Slow withdrawal – over 3 days
• No deposit fee
• Credit/Debit cards, electronic wallet available

Account base currencies

At AvaTrade, you can choose from these base currencies: USD, EUR, GBP, CHF, and AUD. AUD is only available for Australian clients, GBP is only available for clients from the UK.

This base currency offer floats between XM and Plus500.

Base currencies at AvaTrade vs similar brokers

AvaTrade XM Plus500
Number of base currencies 5 7 3

Why does this matter? Two things. First, if you fund your account in the same currency as your bank account, you won’t be charged a currency conversion fee. Second, if you trade assets in the same currency as your account base currency, you will not have to pay a conversion fee.

A convenient way to save on the currency conversion fees can be to open a multi-currency bank account. Revolut or Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. The account opening only takes a few minutes on your phone.

Deposit fees and options

AvaTrade charges no deposit fees. Besides the bank transfer and credit/debit cards, you can use a lot of electronic wallets:

  • Neteller
  • Skrill
  • POLi for Australians

The minimum amount you can deposit is $100 or equivalent in other currencies.

AvaTrade deposit options

AvaTrade XM Plus500
Bank transfer Yes Yes Yes
Credit/Debit card Yes Yes Yes
Electronic wallets Yes Yes Yes

When we deposited our account by using a debit card, it took 4-5 hours until the money arrived. Credit/debit cards transfer money should be instant and it was due AvaTrade verifying the deposit slowly.

If you prefer bank transfer, it can take several business days. You can only deposit money from accounts that are in your name.

Withdrawal fees and options

AvaTrade doesn’t charge withdrawal fees. You can use the same options for withdrawal as at the deposit.

AvaTrade withdrawal fees and options

AvaTrade XM Plus500
Bank Transfer Yes Yes Yes
Credit/Debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Withdrawal fee $0 $0 $0

For credit/debit cards, you can withdraw up to 200% of the amount you have deposited before. It means if you make a profit more than twice of the deposited amount and want to withdraw the whole amount, you have to use bank transfer.

How long does it take to withdraw money from AvaTrade? We tested the debit card withdrawal and it took 1 business day.

You can only withdraw money to accounts in your name.

How do you withdraw money from AvaTrade? You can withdraw money from AvaTrade by following these steps:

  • Log into your AvaTrade account
  • Go to Withdraw Funds
  • Select the withdrawal method you want to use
  • Add the amount you wish to withdraw

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AvaTrade review
Web trading platform

AvaTrade’s web trading platform is provided by MetaTrader. It is highly customizable, available in a lot of languages, and has a clear fee report. On the negative side, it lacks a two-step login and the design is outdated.

Pros Cons
• Clear fee report • No two-step (safer) login
• Good customizability (for charts, workspace) • No price alerts
• Order confirmation • Poor design
AvaTrade platforms to choose from
Trading platform Score Available
Web 2.8 / 5 stars Yes
Mobile 4.3 / 5 stars Yes
Desktop 3.3 / 5 stars Yes

AvaTrade provides more trading platforms you can choose from:

  • MetaTrader 4, a third-party trading platform
  • MetaTrader 5, a third-party trading platform
  • AvaOptions, AvaTrade’s own trading platform for forex options
  • Webtrader, AvaTrade’s own trading platform

MetaTrader 4 is available in an exceptionally large number of languages.

AvaTrade web trading platform languages
Arabic Bulgarian Chinese Croatian Czech Danish
Dutch English Estonian Finnish French German
Greek Hebrew Hindi Hungarian Indonesian Italian
Japanese Korean Latvian Lithuanian Malay Mongolian
Persian Polish Portuguese Romanian Russian Serbian
Slovak Slovenian Spanish Swedish Tajik Thai
Traditional Chinese Turkish Ukrainian Uzbek Vietnamese

Look and feel

The AvaTrade web trading platform has great customizability. You can easily change the size and the position of the tabs.

However, the platform feels outdated and some features are hard to find. For example, it took some time until we found how to add an asset to the watchlist.

Login and security

AvaTrade provides only a one-step login. A two-step authentication would be more secure.

Search functions

The search functions are OK. You can find the assets in categories. However, we missed the usual search function where you could type in the asset’s name manually.

Placing orders

You can use the basic order types. You will not find very sophisticated orders like the ‘one cancels the other’ order. The following order types are available:

If you are not familiar with order types, read this overview.

There are also order time limits you can use:

  • Good ’til cancelled (GTC)
  • Good ’til time (GTT)

Alerts and notifications

You can’t set alerts and notifications on the AvaTrade web trading platform. This feature is available only on the desktop trading platform.

Portfolio and fee reports

AvaTrade has clear portfolio and fee reports. You can easily see your profit-loss balance and the commissions you paid. These reports can be found under the ‘History’ tab. We didn’t find a way to download them.

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71% of retail CFD accounts lose money

AvaTrade review
Mobile trading platform

AvaTradeGo is a contemporary-looking, easy to use mobile application with a decent set of features. On the other hand, the order types are limited and it’s available only in English.

Pros Cons
• User-friendly • No two-step (safer) login
• Good search function • No Touch/Face ID login
• Price alerts • Only in English

AvaTrade offers two trading platforms:

  • AvaTradeGO, AvaTrade’s own mobile trading platform
  • AvaOptions, AvaTrade’s own mobile trading platform for trading with forex options.

In this review, we tested AvaTradeGO as most clients would use that trading platform. It is available for both Android and iOS. We tested on Android.

In contrast with MetaTrader trading platforms, it is available only in English.

The AvaTrade mobile trading platform looks nice and it’s user-friendly.

Beyond the usual mobile functions like search function or alerts, even education videos and the customer support chat are available right within the app. It’s a nice and useful detail.

Login and security

AvaTrade provides a one-step login. As a plus, you can set a fingerprint login as well.

Search functions

The search functions are good. When you can search by typing the assets name, a relevant result list categorized appears.

Besides the classical magnifying search function, you can also find the assets through categories.

Placing orders

Similarly to the web trading platform, you can use only basic order types:

There are also order time limits you can use:

  • Good ’til canceled (GTC)
  • Good ’til time (GTT)

Alerts and notifications

You can set price alerts that can send you push notifications. Additionally, you can also set an expiration to these alerts and notifications.

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71% of retail CFD accounts lose money

AvaTrade review
Desktop trading platform

In design and functionalities, AvaTrade’s MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts on the desktop trading platform.

Pros Cons
• Clear fee report • No two-step (safer) login
• Good customizability (for charts, workspace) • Poor design
• Price alerts

Similarly to the web trading platform, you can use MetaTrader 4, MetaTrader 5 and AvaOptions as desktop trading platforms. The latter is only for trading with forex options.

In this review, we tested the MetaTrader 4 desktop trading platform as it offers more assets to trade, not just forex options.

It has the same design, is available in the same languages, offers the same order types, has the same search functions, and offers the same portfolio and fee reports as the web trading platform.

The major difference is that you can set alerts and notifications in the form of mobile push and email notifications on the desktop trading platform. To set email or mobile notifications, you have to add your email address and mobile MetaQuotes ID (you can find it in the MT4 app’s settings). You can add them if you go to ‘Tools’ and then ‘Options.’

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71% of retail CFD accounts lose money

AvaTrade review
Markets and products

At AvaTrade, you can trade only with forex, CFDs, ETFs, Bonds, Options and cryptos. It doesn’t offer real stocks and mutual funds.

AvaTrade has a great product lineup in crypto, stock index CFDs, commodity CFDs, and forex.

Disclaimer: 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.

AvaTrade is a forex broker but it also offers some CFDs to trade with. To learn more about CFDs read our CFD trading tips.

AvaTrade’s currency pair selection is OK, in the same ballpark with its competitors, XM and Plus500. The stock CFD offering is average, the ETF CFD product range is far from its competitor Plus500.

AvaTrade XM Plus500
Currency pairs (#) 56 57 70
Stock index CFDs (#) 20 18 33
Stock CFDs (#) 630 1,200 1,800
ETF CFDs (#) 5 92
Commodity CFDs (#) 17 15 22
Bond CFDs (#) 2
Cryptos (#) 17 5 14

At AvaTrade you cannot change the default leverage level of the products. We think this is something you should be in control of.

Social Trading

AvaTrade offers social trading through two third-parties, DupliTrade and ZuluTrade. Both services allow you to copy other traders’ activities.

The minimum deposit for using ZuluTrade is $500, while $2,000 to start trading with DupliTrade.

AvaTrade review
Research

As a plus, you can use Autochartist on the MetaTrader and AvaTrade has a great trading position calculator. On the other hand trading ideas, fundamental data, and news feed are missing.

Pros Cons
• User-friendly • No trading ideas
• Autochartist integration • No fundamental data available
• Trading calculator • Missing news feed

AvaTrade does not provide trading ideas and fundamental data.

Charting

AvaTrade has OK charting tools. You can use 31 technical indicators.

AvaTrade review
Customer service

AvaTrade has great live chat customer support, they give relevant answers. You can also contact them in many local languages. On the negative side, the phone support could be better and it’s not available 24/7.

Pros Cons
• Live chat • No 24/7 support
• Fast response time • Phone support is hard to reach

You can contact AvaTrade via:

  • live chat
  • phone
  • email

AvaTrade has a great live chat. No long waiting time in the queue, we reached the customer support agent almost immediately.

We got relevant answers in detail. Besides English, you can chat in a lot of other languages including Arabic, Chinese, French, Italian, German, Russian and more.

AvaTrade phone support can be improved. On the website, you can find a long list of telephone numbers for local countries. We tried to use the number there, but it didn’t work. We tried to call the international phone number four times, but after 3+ minutes of waiting time, the phone call was ended.

On email, we received answers to our emails within a day which is quite fast. The response we received didn’t answer our question, but referred to a link only.

We missed 24/7 availability as well.

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71% of retail CFD accounts lose money

AvaTrade review
Education

Beyond a demo account, AvaTrade is packed with quality materials to educate yourself, but we missed the live webinars.

Pros Cons
• Demo account • Webinars are not available
• Trading platform tutorial
• Educational videos

The AvaTrade education section is great. The educational material offers several learning opportunities around trading basics, economic indicators, charting.

You can learn in the following ways:

  • Demo account
  • Platform tutorial videos
  • General educational videos
  • Quality educational articles

Within the video library, you will find exceptionally lot videos and they have a great quality.

The only missing part is regular webinars, which some other providers usually offer.

It’s a big plus that AvaTrade offers access to SharpTrader, where you can learn to trade with confidence. SharpTrader is an exceptionally good educational tool with its 40 educational units and 200 easy-to-follow video tutorials and articles.

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71% of retail CFD accounts lose money

AvaTrade review
Safety

AvaTrade is regulated by a number of regulators. It is a well-established brand but it’s not listed on any exchange, does not disclose financial information and does not have a bank parent.

Pros Cons
• Majority of clients belong to a top-tier financial authority • Does not hold a banking license
• Negative balance protection • Not listed on stock exchange
• Financial information is not publicly available

Is AvaTrade regulated? Yes, it is regulated by numerous authorities and bodies across the world:

  • the Central Bank of Ireland
  • the B.V.I Financial Services Commission on the British Virgin Islands
  • 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 is based in Ireland and was founded in 2006. Is AvaTrade safe? To be certain, it is best to check two things: how you are protected if something goes wrong and what the background of the broker is.

How you are protected

AvaTrade operates more subsidiaries and depending on your residency, one of these subsidiaries will serve you. This is important for you because the investor protection amount and the regulator differ from entity to entity.

AvaTrade legal entities

Country of clients Protection amount Regulator Legal entity
EU €20,000 Central Bank of Ireland AVA Trade EU Ltd
Australia No protection Australian Securities and Investments Commission (ASIC) Ava Capital Markets Australia Pty Ltd
South Africa No protection Financial Sector Conduct Authority (FSCA) Ava Capital Markets Pty
Japan No protection Japanese Financial Services Agency (FSA), Financial Futures Association of Japan (FFAJ) Ava Trade Japan K.K.,
International clients No protection B.V.I Financial Services Commission AVA Trade Ltd

AvaTrade provides negative balance protection if your account belongs to the European entity, Ava Trade EU Ltd for forex spot and CFD trading, but only for retail clients from the European Union. Professional and non-EU clients are not covered with any negative balance protection.

Background

AvaTrade was established in 2006. The longer the track record of a broker, the more proof we have that it has successfully survived previous financial crises.

Having a long track record and being regulated by several regulators including top-tier ones are all great signs for AvaTrade’s safety.

AvaTrade review
Bottom line

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

We liked the seamless and hassle-free account opening. You can use a lot of deposit and withdrawal options and they are free of charge. The trading fees are low and the fee structure is transparent. AvaTrade’s customer support is great via live chat. The education opportunities are great.

AvaTrade has some drawbacks though. The product range is limited to forex, CFDs, and cryptos. The research tools lack recommendations, fundamental data, and news feed.

As there is only a small minimum deposit, and inactivity fee only kicks in after three months, feel free to try AvaTrade.

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71% of retail CFD accounts lose money

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