February 27

Avatrade Review 2021: Breakdown of key findings

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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.

  • Web Address: www.avatrade.com
  • Minimum deposit: $100
  • Time to open account: 1 day
  • Deposit with bank card: yes
  • Deposit with electronic wallet: yes
  • Trading fees: low
  • 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:

  1. Retail account (EU) / Standard account (Rest of the world) - An individual will own this account
  2. Corporate account - a legal entity will own this account
  3. Options account - to trade FX options
  4. Spread betting account - this is only available in the UK and Ireland
  5. 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

FAQs 

How do I begin trading?

When you are ready to start trading, deposit £100 in your trading account. Once you have done this, you can begin using the platform to make actual trades or practice with a demo account.

How do I add funds to my account?

Adding funds to an AvaTrade account is easy. Click on the ‘Deposit’ tab on your account screen. From there, click ‘Fund Your Account’. You can set up a bank transfer or deposit money from a credit card.

Does AvaTrade charge a commission on trades I make?

No commissions are charged on AvaTrade accounts, but there are commissions payable on CFD trades. The platform makes money by charging a small markup on each currency spread.

How do I withdraw my money from my AvaTrade account?

Withdrawing money from your AvaTrade account is simple and you can move money straight into your bank account or back onto your credit card. Note that account withdrawals take a minimum of 24-hours to process and it may take a few days for the money to hit your account.

Is there a customer service department?

Yes, there is. For non-urgent queries, fill out the contact form on the site. If you need more urgent assistance or would like to speak to a customer service agent, call 877-796-3912.

To read our privacy policy feel free to click here.


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