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.
USD$100
Minimum Opening Balance
Forex, CFDs
What you can trade?
Email, Phone
Support
| Product Name | AvaTrade |
|---|---|
| CFD Products | ETFs, Commodities, Indices, Stocks, Bonds |
| Minimum Trade Size | US$100 |
| Platforms | Web Trading (AvaTradeGo and AvaOptions), MetaTrader 4, MetraTrader 5, Automated Trading, Mobile Trading (Mac Trading and AvaSocial) |
| Go to site More Info |
There are a few core reasons why you might go with AvaTrade instead of a different platform in South Africa.
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.
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 balance | US$100 |
| Spreads | From 0.9 pips for EUR/USD |
| Forex commission per lot | US$0 |
| CFD commission | US$0 |
| Minimum trade size | 0.01 |
| Leverage | 20:1 up to 30:1 |
| Inactivity fee | US$50 after 3 consecutive months of inactivity |
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.
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:
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.
