AvaTrade SA Review 2024

Last updated Mar 1, 2024
Логотип AvaTrade SA
4.5/5
Trading CFDs and FX Options entail risk and could result in the loss of your capital.
Nikolay Zavarov - Author
Nikolay Zavarov
Author
Andrey Bondarenko - Editor
Andrey Bondarenko
Editor

Are you trading in the Forex market and looking for an experienced and reliable broker to work with? If so, AvaTrade might be the perfect choice for you! Read on for our comprehensive review of this leading global broker, where we've highlighted all its key features.

Considering AvaTrade's extensive educational resources, competitive spreads, a broad selection of financial instruments, and cutting-edge trading platforms tailored to traders' needs, it's no wonder this broker receives top marks in expert reviews.

So, let's find out how well AvaTrade stands up against other Forex brokers regarding the services provided.

AvaTrade Broker Overview

Foundation Year2005
Official Websitehttps://www.avatrade.co.za
Regulated in CountriesIreland, British Virgin Islands, Australia, South Africa, Japan, United Arab Emirates, Israel, CanadaMore Details
Minimum Deposit
  • 100 USD
  • 100 EUR
Spreadfrom 0.6 points
Max Leverage1:400
Trading Assets
  • Forex
  • Stocks
  • Indices
  • ETF
  • Cryptocurrency
  • Bonds
  • Precious Metals
  • Energy Carriers
  • Agricultural Commodities
Trading Platforms
  • MetaTrader 4
  • MetaTrader 5
  • WebTrader
  • AvaTradeGO
Email Support
  • customer@avatrade.co.za
Hotline Phones
Social Media

AvaTrade is a broker offering trading services in the Forex and CFD markets. The company's clients can trade independently on the AvaTrader and MetaTrader platforms or entrust their funds to more successful peers through the DupliTrade terminal.

Since 2006, AvaTrade has attracted more than 400,000 private traders from 150 countries. Today, the broker's regional centres are in South Africa, Australia, Japan, Italy, and Poland, with the main office in Dublin, Ireland. AvaTrade's annual turnover amounts to approximately 60 billion US dollars.

As for AvaTrade's trading model, the broker operates as a market maker.

AvaTrade Review Summary

If you're interested in the details of our approach to broker evaluation, you can familiarize yourself with our methodology. We invite you to continue reading the review to better understand AvaTrade and its services.

Reliability and Regulation

Rating:5/5

AvaTrade is regulated in various countries by several leading financial regulators, ensuring high reliability. Here are some of them:

Legal EntityRegulatorReview
AvaTrade EU review
AvaTrade UK review
AvaTrade review
AvaTrade AU review
Current review
AvaTrade JP review
AvaTrade AE review
AvaTrade IL review
AvaTrade CA review

The broker adheres to strict norms and standards, including handling client funds, ensuring security, and financial reporting. AvaTrade clients can be confident that their data and funds are secure.

Account Opening

Rating:5/5

AvaTrade offers clients a simple, convenient, and swift account-opening process from various countries.

Registration

To open an account or register a personal cabinet on AvaTrade, click the "Open trading account" button in the homepage's upper right corner.

At the first registration stage, it's enough to specify an email and create a password.

Registering an account with AvaTrade
Registering an account with AvaTrade

To complete your registration, you will be required to enter your personal information in the designated fields provided in the Client Area:

  • Full name
  • Date of birth
  • Residential address
  • Main occupation
  • Total annual income
  • Source of funds
  • Phone number

Verification

Opening an account with AvaTrade involves a mandatory verification step. This is a crucial process established to ensure the security of your data and funds.

  1. Identity confirmation. You must provide a colour copy of a document confirming your identity. This can be a passport or state-issued driver's license. The document must include your name, photograph, date of birth, and expiration date. Ensure that the document matches the information provided when registering your account.

  2. Address confirmation. You must provide a document confirming your current residential address. The document should be no older than six months. They can include a bank statement, credit card statement, utility bill (electricity, water, gas), mobile or landline phone bill, or even a letter from the local municipality. The address must match the one provided at registration.

In some cases, AvaTrade may request a copy of your credit card. Don't worry; you can hide the eight middle digits on the front and the CVV code on the back of the card.

Verification is an essential part of opening an account with AvaTrade, and this process allows the company to maintain a safe and transparent environment for its clients.

Minimum Deposit

The minimum deposit to open an account is set at a relatively low level and amounts to the equivalent of 100 units in the currency of your choice.

Minimum deposits for various currencies:

  • 100 US dollars (USD)
  • 100 euros (EUR)

Account Types

Rating:3/5

AvaTrade offers a trading account with attractive trading conditions and a range of additional services, but certain limitations may not meet the needs of specific traders. For example, there is no market execution of orders, cent accounts, or fixed spread accounts. These aspects can be critical to traders, particularly those who prefer market execution to obtain the best prices or cent accounts to minimize risks.

Trading Account

Since the broker has a very extensive arsenal of financial instruments, for the convenience of traders, there is only one type of real account. The main conditions of the AvaTrade trading account are as follows:

-
Account CurrencyUSD, EUR
Minimum Deposit100 $100
Trading PlatformsMetaTrader 4MetaTrader 5WebTraderAvaTradeGO
Spreadfloatingfrom 0.6 pipsfor EURUSD~ 0.9 pips
Commission per Trade
Trading AssetsForexStocksIndicesETFCryptocurrencyBondsPrecious MetalsEnergy CarriersAgricultural Commodities
Opened Positions
Leverage1:1-1:400
Margin Call / Stop Out100% / 50%
Order ExecutionMM
Demo Account
Islamic Account
Register

Demo Account

Considering that practice is one of the critical aspects of becoming a successful trader, AvaTrade offers its clients the opportunity to open a free demo account. This type of account allows beginners to learn the intricacies of trading without real risk and experienced traders to test new strategies and approaches to trading.

The demo account has the following features:

  • It's provided free of charge for trading with virtual funds amounting to $10,000.
  • The account is active for 21 days, allowing for comprehensive testing of trading strategies and exploration of the platform's functionality.
  • After opening a demo account, you can download and explore the trading platform of your choice. Platforms like MetaTrader 4, MetaTrader 5, and AvaOptions are available for the demo account.
  • Choose the base currency for the demo account: USD or EUR.

Swap-Free Account

AvaTrade allows its clients to open an Islamic account that fully complies with Sharia principles. Such an account is ideal for those who follow Islamic religious principles and want to participate in international trade.

The process of opening an Islamic account is quite simple and consists of three steps:

  • Account verification. You need to provide all the requested documentation to verify your account.
  • Funding the account. Before applying for an Islamic account, you must fund it.
  • Application submission. Once the account is verified and funded, you can contact AvaTrade's support service with a request to open an Islamic account. Requests are usually processed within 1-2 business days.

It is worth noting that no swaps are charged on Islamic accounts, but there is one limitation - transactions that remain open for more than 5 days will still be subject to swap charges.

Copy Trading

AvaTrade offers its clients a unique opportunity to copy trades through DupliTrade and AvaSocial systems (which we will discuss in the "Trading Platforms" section).

With AvaTrade's copy trading, you gain access to hundreds of different trading strategies and can use the experience of successful traders to improve your trading results.

Commissions

Rating:4.5/5

AvaTrade does not charge a commission for depositing or withdrawing funds, but it does have inactivity fees, which could become an unplanned expense for some clients. Nonetheless, considering the level of spreads and the absence of other types of commissions, it can be said that the overall level of the broker's commissions is below the market average.

Trading Fees

The broker does not charge a trading commission apart from spreads and swaps. This means that the traders' main costs when trading are the spreads and, in some cases, swaps.

It is worth noting that AvaTrade offers relatively narrow spreads. Below are the average spreads and swaps for major currency pairs.

AssetAverage spreadSwap longSwap short
EURUSD0.9 pips-0.01 %0.00 %
GBPUSD1.5 pips-0.00 %-0.00 %
USDJPY1.0 pips0.00 %-0.02 %
AUDUSD1.1 pips-0.01 %-0.00 %
USDCAD2.0 pips-0.00 %-0.01 %
USDCHF1.6 pips0.00 %-0.01 %
NZDUSD1.8 pips-0.00 %-0.00 pips

Inactivity Fee

If you do not use your account at AvaTrade for a certain period, the broker may charge an inactivity fee. After 3 months of non-use ("Inactivity Period"), a fee of $50 is deducted from the client's trading account. If the account remains inactive for 12 consecutive months ("Annual Inactivity Period"), the broker charges a maintenance fee of $100.

Deposit and Withdrawal

Rating:4.2/5

AvaTrade provides flexible and accessible methods for depositing and withdrawing funds, although processing times can be lengthy.

How to Deposit Funds

Payment SystemCurrenciesDeposit FeeOperation Limit
NetellerNeteller
USDEUR
0%
from 100 to 20000 USDfrom 100 to 20000 EUR
SkrillSkrill
USDEUR
0%
from 100 to 20000 USDfrom 100 to 20000 EUR
Google PayGoogle Pay
USDEUR
0%
from 100 to 20000 USDfrom 100 to 20000 EUR
Bank TransferBank Transfer
USDEUR
0%
from 500 USDfrom 500 EUR
VisaVisa
USDEUR
0%
from 100 to 20000 USDfrom 100 to 20000 EUR
MastercardMastercard
USDEUR
0%
from 100 to 20000 USDfrom 100 to 20000 EUR
MaestroMaestro
USDEUR
0%
from 100 to 20000 USDfrom 100 to 20000 EUR
JCBJCB
USDEUR
0%
from 100 to 20000 USDfrom 100 to 20000 EUR

Deposits via e-wallets are processed within 24 hours. A bank transfer deposit can take up to 10 days.

How to Withdraw Funds

The following methods are available for withdrawing money:

Payment SystemCurrenciesWithdrawal FeeOperation Limit
NetellerNeteller
USDEUR
0%
SkrillSkrill
USDEUR
0%
Bank TransferBank Transfer
USDEUR
0%
VisaVisa
USDEUR
0%
MastercardMastercard
USDEUR
0%
MaestroMaestro
USDEUR
0%
JCBJCB
USDEUR
0%

By anti-money laundering regulations, funds can only be sent back via the methods used to fund the account.

AvaTrade processes withdrawal requests within 1 day. After confirmation and processing of the request, additional time may be required for the payment system to process the withdrawal:

  • 1 day for e-wallets;
  • up to 5 days for card withdrawals;
  • up to 10 days for bank transfer withdrawals.

AvaTrade covers the commission fee of up to $100 for bank transfer withdrawals.

Markets and Products

Rating:5/5

AvaTrade offers various financial instruments, including currency pairs, CFDs, stocks, ETFs, bonds, cryptocurrencies, etc. This makes AvaTrade attractive to traders of different levels and interests.

What markets are available?

The broker offers a large selection of financial instruments:

  • Over 60 currency pairs;
  • CFDs on nearly all underlying assets, including commodities, stocks, and indices;
  • Over 600 stocks from major American and European companies;
  • 60 ETFs;
  • 2 bonds;
  • 11 cryptocurrencies;
  • Metals – gold, silver, platinum, palladium, copper;
  • Energy commodities – various grades of oil, natural gas, heating oil, gasoline;
  • 31 exchange indices;
  • Agricultural commodities – corn, soy, wheat, coffee, sugar, and cotton;
  • Over 40 options on currencies and metals.

Margin Requirements

Depending on the type of traded asset, different leverage sizes are available:

Trading InstrumentMax. Leverage for Retail Traders
Forex
1:400
Precious Metals
1:200
Energy Carriers
1:100
Agricultural Commodities
1:33
Indices
1:200
Stocks
1:10
ETF
1:20
Bonds
1:20
Cryptocurrency
1:25

Trading Platforms

Rating:5/5

AvaTrade offers various platforms for trading: MetaTrader 4 and 5, WebTrader, and AvaTradeGO providing traders with the flexibility to choose the right tool to execute their trading strategies.

MetaTrader 4 and 5

MetaTrader 4 and MetaTrader 5 are robust and reliable platforms for trading in the forex and other financial markets. They offer access to all necessary tools for technical analysis, feature functionality for automated trading, and allow the creation of custom trading robots. Users can customize the workspace according to their preferences.

AvaTrade MetaTrader 5 Web
AvaTrade MetaTrader 5 Web

WebTrader

WebTrader is a convenient and intuitive platform that does not require downloading or installation. It provides all the necessary tools for effective trading, including pending and market orders, take-profit and stop-loss, partial closing of positions, and a detailed transaction history. With the ability to trade directly from a browser, WebTrader is ideal for those who value convenience and speed.

AvaTrade WebTrader
AvaTrade WebTrader

AvaTradeGO

AvaTradeGO is an innovative trading app from AvaTrade, available for mobile devices. It offers access to global market trading with actual quotes and charts and a unique feature called AvaProtect, which minimizes trading risks. The app allows managing multiple MT4 accounts, switching between demo and real accounts, and instant access to all AvaTrade data anytime and anywhere.

AvaTradeGo
AvaTradeGo

AvaOptions

For trading exchange-traded options, AvaTrade offers the specialized platform AvaOptions, where classic call and put options are traded.

Benefits of AvaOptions

  • Options on more than 40 currency pairs, as well as spot gold and silver;
  • A single account is sufficient for spots and options;
  • 24/5 trading;
  • Trading statistics in the form of charts;
  • A 21-day practice account.

AvaOptions can be downloaded for free from the broker's website.

AvaOptions
AvaOptions

Platforms for Copy Trading

For beginners and traders with limited free time, AvaTrade offers several services for auto trading:

  1. DupliTrade is a platform compatible with MT4, allowing the automatic copying of signals and strategies of experienced traders in real-time.

  2. AvaSocial is an innovative platform for social trading designed to take the concept to the next level.

DupliTrade

DupliTrade is an innovative platform for automatic copy trading, allowing clients to automatically follow experienced traders' strategies. It lets you closely monitor successful traders' strategies and copy their trades in real time. This is an excellent opportunity for beginners to learn from professionals and for seasoned traders to expand their trading strategies.

DupliTrade’s strategy providers
DupliTrade’s strategy providers

AvaSocial

AvaSocial is a leading platform in social trading, enabling traders to mimic the transactions of their peers. It introduces distinctive tools and features that allow users to tailor their trading strategy to align with their personal goals and risk tolerance. AvaSocial is particularly adept at independently selecting strategies and considering expert advice, offering a comprehensive solution for novice and experienced traders who wish to engage in social trading, emphasising community learning and strategy sharing.

Analytics

Rating:4.5/5

The economic calendar and AvaTrade's collaboration with Trading Central let traders stay informed about the financial markets' most important news and events. This will enable them to make informed decisions based on up-to-date information.

The availability of a trader's calculator with the broker enables traders to calculate potential risks and profits before executing a trade. This can be a handy tool for trading and allows traders to make more informed decisions.

However, AvaTrade lacks in-depth analytical materials, such as detailed reports and research, which could help traders better understand the market and develop effective trading strategies.

Economic Calendar

The economic calendar is a critical tool that helps traders keep track of important economic events and indicators that can impact financial markets. It allows traders to prepare for events that could cause significant market fluctuations.

AvaTrade Economic Calendar
AvaTrade Economic Calendar

Trading Central

AvaTrade partners with Trading Central, a leading provider of research and analytical materials for traders. Trading Central offers crucial market news, tips, and other timely information that traders can use to make educated trading decisions. This information is available directly through the interface of AvaTrade's trading platforms and via SMS notifications and emails.

AvaTrade Trading Central
AvaTrade Trading Central

Trader's Calculator

The trader's calculator from AvaTrade is a powerful tool that helps traders manage risks. It allows traders to calculate potential losses, profits, and costs before entering a trade. Using this tool, traders can understand the possible outcomes of their trading operations and make reasoned decisions.

AvaTrade Trader's Calculator
AvaTrade Trader's Calculator

Education

Rating:3.5/5

AvaTrade provides quality educational materials that allow traders to learn the trading basics and improve their skills. Video tutorials and articles cover various aspects of trading on the financial markets and provide valuable information for traders of all levels. Thanks to the availability of educational resources on the AvaTrade platform, traders can learn at their own pace and convenience.

However, the broker could offer various learning formats like webinars, courses, and podcasts.

Video Tutorials and Articles

AvaTrade offers a rich library of educational videos and articles that cover different aspects of trading on the financial markets. These resources are accessible to traders of all levels, from beginners just starting with Forex to advanced traders looking to deepen their knowledge and trading skills. The educational courses offered by AvaTrade thoroughly explore essential topics such as the fundamental principles of trading, the use of trading tools, developing trading strategies, and risk management. Video tutorials are available on the official AvaTrade website, providing convenience and flexibility for learning.

AvaTrade Education Center
AvaTrade Education Center

Customer Support

Rating:5/5

The technical support team at AvaTrade offers a variety of communication channels, including phone, email, live chat, and WhatsApp, ensuring convenience and accessibility for clients. The 24/7 operation of the support service guarantees a quick response to traders' inquiries and issues.

How to contact support?

There are several ways to contact technical support:

  1. By calling the hotline at +1 212-941-9609.
  2. By writing an email to customer@avatrade.co.za.
  3. By using the live chat feature on the broker's website.
  4. By sending a message on WhatsApp to +447520644093.

Support Schedule

AvaTrade's support operates 24/7.

AvaTrade Pros and Cons

Advantages

  1. A wide selection of financial instruments. AvaTrade offers more than 60 currency pairs and CFDs on stocks, indices, commodities, cryptocurrencies, and other assets.
  2. Innovative trading platforms. AvaTradeGO, MetaTrader 4 and 5, and WebTrader provide convenience and functionality for trading.
  3. Educational resources. Access to an education centre with video tutorials, articles, and other materials helps traders improve their skills and knowledge.

Disadvantages

  1. Limited account options. The absence of market execution of orders, cent accounts, and fixed spread accounts may limit options for traders.
  2. Fees. Costs for account inactivity and maintenance may impact trading profitability.

Conclusion

AvaTrade is well-suited for traders seeking a variety of trading instruments and user-friendly trading platforms. It can appeal to both beginners looking to start trading and experienced traders who want to expand their knowledge and skills. However, traders prioritizing market execution of orders or the availability of cent accounts might consider looking at other brokerage firms to find offerings that better meet their specific trading preferences and requirements.

Visit AvaTrade SATrading CFDs and FX Options entail risk and could result in the loss of your capital.
Nikolay Zavarov - Author
Nikolay ZavarovAuthor

Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader. He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017.

He develops investment strategies adaptable to any level of experience and has been actively investing in stocks, bonds and ETFs since 2018.

Write a review about AvaTrade SA:

Rating: