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AvaTrade South Africa 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 South Africa, Europe, Australia, British Virgin Irelands, Japan and Abu Dhabi.

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

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USD$100

Minimum Opening Balance

Forex, CFDs

What you can trade?

Email, Phone

Support

Details

Product NameAvaTrade
CFD ProductsETFs, Commodities, Indices, Stocks, Bonds
Minimum Trade SizeUS$100
PlatformsWeb Trading (AvaTradeGo and AvaOptions), MetaTrader 4, MetraTrader 5, Automated Trading, Mobile Trading (Mac Trading and AvaSocial)
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Quick verdict

Good for
  • 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
  • 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 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 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: 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.

Standard account
Minimum opening balanceUS$100
SpreadsFrom 0.9 pips for EUR/USD
Forex commission per lotUS$0
CFD commissionUS$0
Minimum trade size0.01
Leverage20:1 up to 30:1
Inactivity feeUS$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
  • 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?

  • Web chat
  • Email
  • Phone

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:

  • 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 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 FAQs

1 - 9 of 9
Name Product Number of Stocks CFDs Shares Markets
AvaTrade
Access to global markets
Yes
No
Worldwide with exception.
CFD Service. Your capital is at risk.
Trade over 1,200 instruments online with Avatrade, including stocks, cryptocurrencies, forex, commodities and indices. The minimum deposit with Avatrade is US$100.
Plus500
2,000+
Yes
No
Worldwide with exception.
CFD Service. Your capital is at risk.
Trade over 2,500 financial instruments with one of the largest CFD providers in the world.
CM Trading
N/A
Yes
No
US, FR, DE, UK, AU, ZA, CH. HK, JP, ES, NL, IT
CFD Service. Your capital is at risk.
Licensed international brokerage and CFD provider that offers advanced trading solutions designed for both new and experienced traders alike.
Zacks Trade
Access to global markets
No
Yes
US, CA, MX, AT, BG, FR, DE, IT, NL, ES, NO, SE, SW, UK, HK, JP, SG, RU, AU
CFD Service. Your capital is at risk.
Trade stocks, bonds, ETFs, options, and more on 90+ international exchanges. Offers customizable trading platforms with over 120 technical indicators for your charting needs.
Eightcap
Access to global markets
Yes
No
UK, DE, AU
CFD Service. Your capital is at risk.
Trade a wide variety of instruments on the award-winning MT4/5 platforms with this Australia-based CFD and forex broker.
Firstrade
Access to US stocks
No
Yes
US
CFD Service. Your capital is at risk.
Enjoy $0 commission trading for stocks, options, funds, and more with this internationally-acclaimed discount broker.
Exness
N/A
Yes
No
CH, VN, TH, PH, SG, ID, IN, UAE, ZA, SA, EG, BR, CR, MX
CFD Service. Your capital is at risk.
Enjoy fast trade executions at competitive fees with this award-winning retail forex broker.
Interactive Brokers
Access to global markets
No
Yes
US, MX, RU, ES, UK, DE, IL, HK, SG, IN, KR, AU, CH, HU, CA
CFD Service. Your capital is at risk.
Take advantage of low trading fees, multiple platform support, and an extensive list of asset classes across global markets, including stocks, options, futures, forex, bonds, and funds.
Capital.com
N/A
Yes
No
US, UK, DE, NL, ES
CFD Service. Your capital is at risk.
Access over 6,000 index, commodity, crypto, and share markets with Capital.com.
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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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