Helen Champion is an associate editor at Finder. She has worked in communications for over 16 years and currently writes on a range of topics including insurance and money transfers in the hope of empowering people to make better financial decisions. During her broadcast career, she helped to produce hundreds of news and breaking news reports for Associated Press TV and ITV News. And in public relations, she managed several high-profile public relations campaigns for Macmillan Cancer Support, the General Medical Council and overseas for Qatar Foundation on behalf of BLJ Worldwide. Helen has a Bachelor of Arts in Journalism from the University of Lincoln, a passion for practising karate in the dojo and a deep love of making mischief with her sons.
Simple and quick registration
Range of trading platforms
Useful educational and research tools
Fee-free deposits and withdrawals
Desktop and mobile trading on the go
Not so great for
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 in South Africa.
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 South African Financial Sector Conduct Authority and other financial authorities around the world including Australia, Canada, Japan and Ireland.
Based on data collected from Trustpilot on 24 June 2022, AvaTrade is noted as “Excellent” gaining 4.8 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. Over 600 CFDs are offered for currency pairs, stocks, commodities, indices, ETFs, cryptocurrencies and bonds.
CFD cryptocurrencies: A range of cryptocurrencies including Bitcoin, Bitcoin Gold, Bitcoin Cash, Litecoin, Ethereum, EOS, Ripple and Dash.
What are AvaTrade’s spreads and fees?
AvaTrade doesn’t have any registration fees or monthly charges in South Africa. You’ll need at least US$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 US$50.
Minimum opening balance
From 0.9 pips for EUR/USD
Forex commission per lot
Minimum trade size
20:1 up to 30:1
US$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
Corporate account. Account should be owned by a legal entity
Options account. For forex trading
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 at least €500,000
What customer support options are available?
News and training material
AvaTrade offers an extensive hub for all kinds of investors in South Africa whether just starting out or fully experienced. Besides 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 a copy of your government-issued ID.
Step 4. Once verified, you can make a deposit into your account and begin trading.
Customers can choose between 5 base currencies including:
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.
AvaTrade is a safe and simple to use online broker where you can open an account quickly and with a nominal deposit of US$100.
Even though it claims to be transparent with all its fees (it has a useful calculator), beware of its inactivity fees. Its product offering is also limited to forex, CFDs and cryptocurrencies. If you want more, you’ll need to look at other brokers.
If you’re tempted by AvaTrade, sign up for the demo account before taking the plunge with a real account.
AvaTrade support 5 base currencies including the euro, Pound sterling, US dollar, Swiss franc and Australian dollar. However, GBP and AUD currencies are only available if you reside in either the UK or Australia respectively.
Yes, it’s possible to place trades from your desktop PC, Mac, iPhone or Android device.
Your withdrawal method depends on your deposit method, i.e. if you fund your account using bank transfer, withdrawal will be via bank transfer.
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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