Broker Review Contents
AvaTrade has grown into a significant online trading platform since its inception in 2006, with about 200,000 registered clients executing up to 2 million deals each month totaling over $60 billion in trading volume.
Headquartered in Dublin, Ireland, Avatrade offers a wide variety of financial trading instruments, including indices, commodities, stocks, currencies, digital currency, bonds, and exchange traded funds, and it does have sales offices in Tokyo, Sydney, Milan, and Paris.
AvaTrade promises to provide multilingual assistance 24 hours a day, seven days a week, with a range of trading platforms accessible, including MetaTrader 4 and AvaTradeGo, as well as a selection of automated trading systems, including Zulu Trade among others.
They are a regulated broker in the EU, Japan, Australia, South Africa, and the British Virgin Islands, and is subject to strict compliance standards in terms of client money, security, and financial reporting.
- Over 200,000 investors use it.
- It was founded in 2006.
- The Central Bank of Ireland, ASIC, IIROC, the FSA, the FSB, the UAE, and the British Virgin Islands all regulate AvaTrade
- The minimum deposit is $100.
- Does not provide VPS
- Not governed by the FCA (See alternatives)
A minimum deposit of $100 is required to establish a live account. Alternatively, AvaTrade provides a demo account that you may use to experiment and become acquainted with their platform.
Regulated in South Africa, ASIC (AFSL #406684) and Financial Services Provider #45984, AvaTrade keeps every customer funds in a separate bank account and works with tier-1 institutions to do so. AvaTrade has been in business since 2006, with its headquarters in Ireland.
Before we get into the specifics of AvaTrade’s spreads, fees, platforms, and trading tools, you might also want to open AvaTrade’s website in a new tab by hitting the links below to get the most up-to-date information directly from AvaTrade.
Full disclosure: If you join up with a broker through one of our links, we may get a commission.
What are the spreads and costs at AvaTrade?
AvaTrade, like most brokers, charges a fee based on the spread, which is really the difference between both the buy and sell prices of an item.
The commissions and spreads shown here are calculated on the AvaTrade website’s minimum spreads.
|EUR/USD(Average: 0.7 pips)||0.9 pips||0.1 pips||0.6 pips|
|GBP/USD(Average: 1.1 pips)||1.6 pips||0.1 pips||0.9 pips|
|USD/JPY(Average: 1.1 pips)||1.1 pips||0.2 pips||0.7 pips|
|AUD/USD(Average: 0.8 pips)||1.1 pips||0.2 pips||0.6 pips|
|USD/CHF(Average: 2.3 pips)||1.6 pips||0.2 pips||1.5 pips|
|USD/CAD(Average: 2.9 pips)||2.0 pips||0.3 pips||1.7 pips|
|NZD/USD(Average: 3.6 pips)||1.8 pips||0.3 pips||2.0 pips|
|EUR/GBP(Average: 2.4 pips)||1.5 pips||0.1 pips||0.9 pips|
Spreads are changeable and are provided solely for informational reasons.
As you’ll see, AvaTrade’s minimum spread for trading EUR/USD is 0.9 pips – a quite wide spread when compared with the rest EUR/USD spread of 0.70 pips. The table below compares how much it would cost to trade one lot of EUR/USD with AvaTrade vs other brokers.
How much does AvaTrade charge to trade 1 lot of EUR/USD?
If you bought one regular lot of EUR/USD (100,000 units) with AvaTrade at an exchange rate of 1.1719 and sold it the next day at the same price, you would most likely pay $12. Here is a general summary of the fees and how they compare to IG and XTB.
|Spread from:||$ 9.00||$ 6.00||$ 2.00|
|Total cost of a 100k trade:||$ 9.00||$ 6.00||$ 2.00|
|$1 less||$5 less|
|VISIT AVATRADE||VISIT IG||VISIT XTB|
All fees and pricing are provided for reference purposes only and are subject to change.
What can you trade using AvaTrade?
AvaTrade provides over 250 different trading instruments, including 59 currency pairings. We’ve outlined all of the numerous types of instruments provided by AvaTrade beneath, along with IG and XTB instruments for comparability.
|FX / Currencies||AvaTrade||IG||XTB|
|# of forex pairs offered||59||90||48|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|# of commodities offered||16||34||21|
|Index & Stock CFDs||AvaTrade||IG||XTB|
|# of stocks offered||99||8000||1606|
|SEE AVATRADE’S INSTRUMENTS||SEE IG’S INSTRUMENTS||SEE XTB’S INSTRUMENTS|
What is the trading experience like with AvaTrade?
1) Platforms and apps
Traders could trade on their favourite device owing to a mix of Mac and Windows download platforms.
They now have mobile apps for Android and iOS, making it easy to monitor and execute transactions while on the go.
Open a practise account and begin learning to trade.
2) Executing Trades
AvaTrade allows the user to perform a 0.01 Lot trade. This may differ based on the type of account you establish. The maximum trading requirements differ according on the trader and the instrument.
They may have fewer entrance criteria as a market maker than an ECN broker, which benefits from a higher number of transactions and usually has higher capital and minimum trading requirements. Market makers generally have a lower minimum deposit, lower minimum trade requirements, and no trading commission.
Margin requirements, like those of other brokers, vary based on the trader, account, and instrument. The most recent margin requirements may be seen on their website.
Finally, we’ve included a list of some of the most common funding options available to AvaTrade traders below.
- Allows for scalping
- Allows for hedging
- Minimum deposit is low.
- Mini account
- Standard account
- Islamic accountDemo account
- Micro account
- NetellerCredit cards
- Bank Transfer
3) Client support
English, Italian, German, French, Greek, Hebrew, Spanish, Arabic, Malay, Russian, Chinese, Portuguese, and Dutch are among the languages supported by AvaTrade.
AvaTrade receives a comparebroker.io triple AAA support rating due to their extensive language and support choices.
4) What you’ll need to open an account with AvaTrade
Because AvaTrade is regulated by the Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE, and the British Virgin Islands, every new customer must pass a few simple compliance tests to verify that you understand the risks of trading and are permitted to trade. When you establish an account, you will most likely be asked for the following information, so keep it handy:
- A utility bill or bank statement from the past three months showing your address
- A scanned colour copy of your passport, driving license or national ID
You’ll also have to answer a few basic compliance inquiries to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.
While you may be able to browse their site immediately, it is essential to note that you will not be able to execute any transactions until you pass compliance, which might take several days depending on your scenario.
If you’re curious about how AvaTrade works or simply would like to see inside their platform, we’ve created a brief 4-minute video that walks you through the process of opening an AvaTrade account.
79% of retail investor accounts lose money when trading CFDs with this provider.