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AvaTrade review: Forex, and CFD broker

AvaTrade is a global online broker offering currency pairs and CFDs in gold, silver, gas and cryptocurrencies. .

AvaTrade is an online global forex and CFD broker. It was launched in 2006 and operates in Europe, Australia, British Virgin Irelands, Japan, South Africa and Abu Dhabi.

In addition to forex, users can trade CFDs for stocks, commodities and indexes as well as cryptocurrency.

warning iconWarning: 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.

Quick verdict

Good for
  • Simple and quick sign up for an account
  • Choice of trading platforms
  • Useful educational and research tools
  • Fee-free deposits and withdrawals
  • Desktop and mobile trading on the go
Not so great for
  • Forex fees
  • Inactivity fees
  • Limited to offering forex, CFDs and cryptocurrency

Why trade with AvaTrade?

There are a few core reasons why you might go with AvaTrade instead of a different platform.

  • Trading platforms. AvaTrade offers several platforms including AvaTradeGO (its own mobile platform), AvaOptions (its platform specifically for trading forex), MetaTrader 4 (a third-party trading platform), MetaTrader 5, WebTrader, ZuluTrade and DupliTrade.
  • Free deposits and withdrawals. Regardless of the method you choose, you won’t pay a cent to deposit money into your account or withdraw it for that matter.
  • Demo account. If you’d like to see how AvaTrade works, sign up for the demo account and see if it matches your expectations.
  • Education and research tools. You can turn to AvaTrade’s extensive hub of guides and videos on a wide range of trading subjects.
  • Transparent forex fees. Use the forex calculator to find out how much you’ll pay in fees on all your forex trades.

Is AvaTrade trustworthy?

AvaTrade is regulated by the Central Bank of Ireland and other financial authorities around the world including Australia, Japan and South Africa.

Based on data collected from Trustpilot on 9 November 2021, AvaTrade is noted as “Excellent” gaining 4.7 out of 5 stars. Having received mostly positive feedback, users point to AvaTrade’s good customer service and fast service delivery.

Note: Forex and CFD trading always carries risk, which you should be aware of, so read up before you start investing. Do your research before signing up to any forex or CFD trading platform.

What can I trade on AvaTrade?

  • Forex currency Pairs. Major, Minor and Exotic.
  • Indices. 20+ global indices including Nikkei 225, FTSE 100, Dj Euro Stoxx 50, US Tech100, China A50, USA2000, Spain 35, S&P 500, and TSX 60.
  • CFDs. CFDs are offered for currency pairs, stocks, commodities, indices, ETFs, cryptocurrencies and bonds.
  • CFD commodities. Gold, platinum, palladium, silver, copper, crude oil, brent oil, natural gas, heating oil, gasoline, corn, soybean, wheat, coffee, sugar, cotton and cocoa.
  • CFD cryptocurrencies: Bitcoin, Bitcoin Gold, Bitcoin Cash, Litecoin, Ethereum, EOS, Ripple and Dash.

What are AvaTrade’s spreads and fees?

AvaTrade doesn’t have any join up fees or monthly charges. You’ll need at least €100 or more to open an account. However, if your account remains inactive for 3 months in a row, then you’ll be subject to an inactivity fee of €50.

Standard account
Minimum opening balance€100
SpreadsFrom 0.9 pips for EUR/USD
Forex commission per lot€0
CFD commission€0
Minimum trade size0.01
Leverage20:1 up to 30:1
Inactivity fee€50 after 3 consecutive months of inactivity

What account types are available with AvaTrade?

  • Demo version. A free trial version is available for you to have a look around before you decide to open an account.
  • Standard account
  • Retail account
  • Corporate account. Account should be owned by a legal entity
  • Options account. For forex trading
  • Spread betting account. Only offered in Ireland and the UK
  • Islamic account. For Islamic customers to stay within the principles of Sharia law.
  • Professional trading account. To qualify, customers must be experienced in the financial sector, have carried out sufficient trades within the last year and have a financial portfolio of €500,000+.

What customer support options are available?

  • Web chat
  • Email
  • Phone

News and training material

AvaTrade offers an extensive hub for all kinds of investors whether just starting out or fully experienced. As well as its demo account, it has a blog with updates on the markets in addition to videos, e-books and guides. You’ll find many of the videos on AvaTrade’s YouTube channel too.

How do I open an account with AvaTrade?

If you’ve had a look through the demo account, follow these simple steps to create a real account with AvaTrade.

Step 1. From the AvaTrade homepage, click “Register now” and select “Real account.”

Step 2. Add your full name, email address and select whether you want your account to be an individual or a joint account. Then click “Create account”.

Step 3. Complete the rest of the application form and verify your account when prompted. You’ll need your driver’s licence or passport plus a bank statement or utility bill.

Step 4. Once verified, you can make a deposit into your account and begin trading.

Customers can choose between 5 base currencies including:

  • EUR. Euro
  • GBP. Pound sterling
  • USD. US dollar
  • CHF. Swiss franc
  • AUD. Australian dollar

Please be aware that GBP and AUD are only available if you reside in either the UK or Australia respectively.

Deposit and withdrawal methods: Bank transfer, credit/debit card and electronic wallet.

Our verdict

AvaTrade is a safe and simple to use online broker where you can open an account quickly and with a nominal deposit of €100.

Even though it claims to be transparent with all its fees (it has a useful calculator), beware of its forex trading fees as you are likely to find better elsewhere. Its product offering is also limited to forex, CFDs and cryptocurrencies. If you want more, you’ll need to look at other brokers. And if you’re not planning on making too many trades, keep in mind the hefty fee you’ll be charged for not using your account for 3 consecutive months.

If you’re tempted by AvaTrade, sign up for the demo account before taking the plunge with a real account.

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AvaTrade FAQs

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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