Founded in 2006, Avatrade offers their customers the ability to trade CFDs, Forex and cryptocurrencies. They are regulated in three tier-1 jurisdictions and three tier-2 jurisdictions meaning they are a very safe broker. They offer MetaTrader along with other platforms and are quite competitive in fees and commissions.
- Trading Platforms: MetaTrader, AvaTrade WebTrader, AvaOptions, ZuluTrade, DupliTrade
- Products: Forex, CFD, Crypto
- Demo Account: yes
- Inactivity fees: yes
When signing up for Avatrade you will need to choose from one of the following account types:
- Retail account (EU) / Standard account (Rest of the world) – An individual will own this account
- Corporate account – a legal entity will own this account
- Options account – to trade FX options
- Spread betting account – this is only available in the UK and Ireland
- Islamic account – swap-free account
After that Avatrade will offer you the choice of multiple trading platforms:
- Metatrader 4 – the most popular
- Metatrader 5 – the next generation but not as popular
- WebTrader – Avatrade’s proprietary platform
- AvaOptions – AvaTrade’s own trading platform for CFD options
- DupliTrade – for social copy trading
- ZuluTrade
Avatrade fees:
Here is an overview of how Avatrade charge their fees
| Assets | Fee Level | Terms |
|---|---|---|
| S&P 500 CFD | Low | The fees are built into the spread, The average spread cost is 0.5 points during peak trading hours. |
| EURUSD | Average | The fees are built into the spread, The average spread cost is 0.9 pips during peak trading hours. |
| Inactivity fee | High | $50 per quarter after 3 months of inactivity; after 12 straight months of non-use, a futher annual administration fee of $100 applies |
Avatrade CFD Fees:
Fees based on a $2000 long position held for one week.
| Assets | Fee |
|---|---|
| S&P 500 index CFD | $1.1 |
| Europe 50 index CFD | $0.8 |
| Apple CFD fee | $9.0 |
| Vodafone CFD fee | $6.0 |
Avatrade Forex Fees:
Fees based on a $20,000 long position held for one week at 30:1 leverage.
| Assets | Fee |
|---|---|
| EURUSD | $10.3 |
| GBPUSD | $9.2 |
| AUDUSD | $10.0 |
| EURCHF | $10.2 |
| EURGBP | $12.1 |
Avatrade Non-Trading Fees:
AvaTrade doesn’t charge any account fees, additionally deposits and withdrawals are also free of charge.
AvaTrade charges an inactivity fee which is $50 per quarter after 3 consecutive inactive months. Additionally after 12 straight months of inactivity there is an annual fee of $100. These inactive fees are quite high when compared to their competitors.
What is Avatrade’s customer support:
Avatrade provides customer support via email, phone and live chat. They are available 24/5 and are always quick to respond.
Is Avatrade regulated?
Yes Avatrade is regulated by many different bodies, here is a list of the most important ones:
- the Central Bank of Ireland
- the B.V.I Financial Services Commission on the British Virgin Islands
- the Australian Securities and Investments Commission (ASIC)
- the Financial Sector Conduct Authority (FSCA) in South Africa
- the Japanese Financial Services Agency (FSA)
- the Financial Futures Association of Japan (FFAJ)
- the Abu Dhabi Global Market Authorities Financial Services Regulatory Authority (ADGM – FSRA)
Which countries is Avatrade available in?
Avatrade is available in all countries except the United States, Iran and Belgium.
What is AvaProtect?
Avaprotect is a hedge/insurance that is available on the avatrade platform, you can insure your trade for a period of time, the longer you want to insure for, the more expensive it is. If you incur any losses in that time then Avaprotect will refund you.
Avatrade Research:
Research and analysis are important tools for traders. AvaTrade offers both in-house research material and third-party content.
The in-house content is fairly sparse, as it only offers links to daily market analysis videos. These are good quality and likely to be useful, but no better than offerings from other forex brokers.
Third-party research material on AvaTrade comes from Trading Central, which is integrated into the platform. You will have access to Market Buzz, an economic calendar, views from top analysts, and also news.
Avatrade Education:
If you want to improve your knowledge of the world’s financial markets, AvaTrade has you covered with an excellent library of educational content from in-house staff writers and third-parties such as SharpTrader.
The beginner section of AvaTrade’s education area contains more than 60 in-depth articles, many of which delve into more advanced topics, such as economic indicators and how they affect market trends.
There is also a video section in the education area that has around 48 useful and interesting videos. These videos cover lots of topics you might want to learn more about, including a guide to a Donchian Channel and how best to use it. There is also a link to archived webinars on AvaTrade’s YouTube channel.
Pros
- AvaTrade uses MetaTrader 4 software, which is the best platform out there for online trading
- The fees for using AvaTrade are very reasonable and for most currency pairs, the markup isn’t too high
- It’s really easy to apply for an AvaTrade account – you’ll be up and running in a few minutes
- There is a demo account available, so you can practice your trading strategies before investing any real money
- AvaTrade has a great selection of technical tools for forex traders, so you can better understand market trends and build charts
Cons
- There is a $100 annual fee to have an account on AvaTrade, plus a $50 inactivity fee if you don’t keep your account active
- This platform, like many other trading platforms, isn’t easy to use, and if you are a beginner trader, you might not realize the risk associated with certain trading instruments (e.g. CFDs)
- Some degree of computer literacy is needed to use AvaTrade
- Using any trading platform is a risk, and you could lose a significant amount of money if you are not careful
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