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AvaTrade Review

May 09, 2022
Last modified May 18, 2022

Since its creation in 2006, AvaTrade has become a large online trading platform with approximately 200,000 registered clients completing up to 2 million trades per month totaling approximately $60 billion of trading volume.

From its base in Dublin, Ireland, AvaTrade offers a range of financial trading instruments such as indices, commodities, shares, forex, digital currency, bonds and exchange traded funds, while it also has sales centres in Tokyo, Sydney, Milan and Paris.

AvaTrade aims to offer around-the-clock multilingual support, with a number of trading platforms available, such as MetaTrader 4 and AvaTradeGo, as well as a variety of automated trading platforms including Zulu Trade among others. Its trading platform is also available for PC, mobile and tablet.

Licensed as a regulated broker in the EU, Japan, Australia, South Africa and the British Virgin Islands, AvaTrade is subject to stringent compliance requirements regarding how they handle client funds, security, and financial reporting

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Overall Rating
8.2 / 10
Minimum Deposit
$100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.91 (Aug 2020)
All-in Cost EUR/USD - Active0.61 (Aug 2020)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2006
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses4
Tier-2 Licenses3
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Trading - Forex or CFDsYes
Tradeable Symbols (Total)1260
Forex Pairs (Total)55
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)90
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Pros and Cons

Pros:

  • Used by 200,000+ traders
  • Established in 2006
  • Regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI
  • Min. deposit from $100

Cons:

  • Doesn’t offer VPS (See alternatives)
  • Not FCA Regulated (See alternatives)

To open a live account, you’ll need a minimum deposit of at least $100. Alternatively, AvaTrade offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by ASIC (AFSL #406684), and Financial Services Provider #45984 in South Africa. AvaTrade puts all client funds in a segregated bank account and uses tier-1 banks for this. AvaTrade has been established since 2006, and have a head office in Ireland.

Before we dive into some of the more detailed aspects of AvaTrade’s spreads, fees, platforms and trading features, you may want to open AvaTrade’s website in a new tab by clicking the button below in order to see the latest information directly from AvaTrade.

What are AvaTrade's spreads & fees?

Like most brokers, AvaTrade takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The commisions and spreads displayed below are based on the minimum spreads listed on AvaTrade’s website. The colour bars show how competitive AvaTrade's spreads are in comparison to other popular brokers featured on BrokerNotes.

As you can see, AvaTrade’s minimum spread for trading EUR/USD is 0.9 pips - which is relatively high compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with AvaTrade vs. similar brokers.

What can you trade with AvaTrade?

AvaTrade offers over 250 different instruments to trade, including over 59 currency pairs. We’ve summarised all of the different types of instruments offered by AvaTrade below, along with the instruments offered by IG and XTB for comparison.

What’s the AvaTrade trading experience like?

1. Platforms and apps

AvaTrade is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here. The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.

AvaTrade also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

2. Executing Trades

AvaTrade allows you to execute a minimum trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument.

As a market maker, AvaTrade may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

Finally, we’ve listed some of the popular funding methods that AvaTrade offers its traders below.

3. Client support

AvaTrade support a wide range of languages including English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese and Dutch.

AvaTrade has a BrokerNotes triple AAA support rating because they offer a wide range of languages and support options.

4. What you’ll need to open an account with AvaTrade

As AvaTrade is regulated by Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore AvaTrade’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with AvaTrade you can visit their website here.

If you’re wondering how AvaTrade works or just want to see inside their platform, we’ve recorded this short 4-minute video walking through the process of creating an account on AvaTrade.

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

More Forex Guides

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more.

About the Author

Marcus Taylor

BrokerNotes was founded in 2014 by Marcus Taylor, founder and CEO of Venture Harbor, a venture studio in Oxford that develops innovative online tools & technology across a range of sectors.


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