What is Avatrade all about & Is it a good broker?
Avatrade Review & Summary
Avatrade is an online-based broker founded in 2006 that hosts CFD and Forex and crypto trading that is ideal for novice traders that don’t have a lot of capital to start with.
The broker is hosted within Ireland and currently services over 200,000 traders and helps execute $60 billion worth of trades each month. In the past 15 years, Avatrade has continued to grow both with its user base and in trade executions. Due to its increasing popularity and beginner-friendly nature, we’ve provided a thorough Avatrade review so that you can make the most informed decision about your broker and trading platform.
Avatrade is an online-based broker which was founded in 2006 and that hosts CFD, Forex and crypto trading which is highly ideal for novice traders that do not have a lot of capital to start with but are eager to involve themselves in trading stocks. It is also a great place to begin one’s trading experience as it also offers excellent educational tips.
The broker is hosted within Ireland and it currently services over 200,000 traders as well as helps execute $60 billion worth of trades each and every month. In the past 15 years, Avatrade has continued to grow tremendously and evolve both with its user base and in trade executions. Due to its increasing popularity as well as its beginner-friendly nature, we have provided a thorough Avatrade review in order to ensure that you can make the most informed decision about your broker and trading platform with which you intend on investing in.
Is AvaTrade a good broker for Trading?
Indeed it is! Avatrade hosts a platform called the Metatrader 4 as well as the Metatrader 5, which are considered to be the gold standards for Forex trading. In addition to their gold standard platform, Avatrade also succeeds in meeting the necessary guidelines of several trading regulations and has indeed been steadily increasing in performance as well as customer base for the past 15 years. Their fees are competitive alongside other top brokers in the trading realm. There are headquarters located across the globe to ensure quick customer support. Customer support is available 24 hours a day, five days a week and users can even access customer support through telephone, chat, or through social media platforms. Enquiries are usually answered by a representative in as little as 8 minutes.
One may not know where exactly to start when trading stocks and investing as a beginner and therefore they develop the desire to find out more about how to trade stocks for beginners. Well, if you are one of these curious beginners, you will be more than glad to discover that the broker is beginner-friendly and hosts many educational materials such as tutorials, trading courses, and blogs in order to help their traders succeed and benefit from their trading experience with Avatrade as much as possible.
Sign up for AvaTrade today!
Avatrade Fees
While opening an account is free, there are fees associated with executing trades. When one is looking for a suitable platform, they should consider the potential expenses to determine possible monetary gains. Avatrade incorporates round trip fees, which means that they collect a single fee for both the opening and closing of a trade. The fees vary based on the type of trade executed, but those who stay close to the minimum deposit of $100 will have a more competitive fee structure compared to those who trade thousands of dollars.
Yes, opening an account is free. There are, however, fees associated with executing trades. When one is looking for a suitable platform, it is encouraged that they consider the potential expenses to determine possible monetary gains. Avatrade incorporates round trip fees, which means that they simply collect a single fee for both the opening and closing of a trade. The fees vary and this is based on the type of trade executed, but those who stay close to the minimum deposit of $100 will have a more competitive fee structure compared to those who are trading thousands of dollars.
Another fee that is important to consider is the inactivity fee that Avatrade has enforced. This refers to the fact that after three full months of inactivity, Avatrade will charge users’ accounts with a $50 fee and after one full year of inactivity, the accounts will be charged a $100 administration fee. There are no fees associated with withdrawing funds nor closing the account, therefore, if you are not actively using the account, it is best to rather just close it down in order to avoid these fees.
Another fee that is important to keep in mind is the inactivity fee that Avatrade enforces. After three full months of inactivity, Avatrade will charge users’ accounts with a $50 fee, and after one full year of inactivity, the accounts will be charged a $100 administration fee. There are no fees associated with withdrawing funds and closing the account, so if you are not actively using the account, it’s best to close it down to avoid these fees.
AvaTrade Login & Account Opening
Almost all locations will allow access to Avatrade, but there are some exceptions. People located in the United States, Belgium, and Iran are not eligible for any accounts through Avatrade. For those who are eligible to use Avatrade, opening an account is quick and easy, but there are different account types that users can choose from, which will also largely depend on where you live. Half of the accounts opened service people in the European Union and the other service users outside of the European Union. Those who reside within the European Union can choose between a retail account, a spread betting account, or a professional account. Although, the spread betting account is only available to traders located in the United Kingdom and the Republic of Ireland. The difference between the retail account and a professional account is the amount of leverage available for use. While retail accounts restrict users to a legal limit of 1:30, professional accounts allow users to leverage as much as 1:400 within Forex Instruments. The difference between spread betting accounts and retail accounts is the way position sizes are measured, but the costs and accessibilities remain the same.
You can manage an Avatrade account from nearly anywhere in the world as almost all locations will allow you access to Avatrade, but there are some exceptions. People located in the United States, Belgium, and Iran are not eligible for any accounts through Avatrade, but for those who are eligible to use Avatrade, opening an account should be quite quick and easy! There are different account types that users can choose from, which will also largely depend on where the user lives. Half of the accounts that are opened do service people in the European Union and the other service users outside of the European Union. Those who reside within the European Union may choose between a retail account, a spread betting account, or a professional account. The difference between the retail account and a professional account is the amount of leverage available for use. While retail accounts restrict users to a legal limit of 1:30, professional accounts allow users to leverage as much as 1:400 within Forex Instruments. The difference between spread betting accounts and retail accounts is the way position sizes are measured, but the costs and accessibilities remain the same.
Those who reside outside of the European Union will be limited to the standard account, which allows for leverage up to 1:400. For traders with more capital. The VIP account requires a deposit of $10,000 or greater and offers the lowest spreads compared to all of the other account options.
Some additional account options include the crypto account, the Islamic account, and the vanilla options account. The crypto account is available to anyone in the world who wishes to trade cryptocurrencies. The Islamic account is available for traders who are Muslim, and it eliminates overnight swap and trade fees. The vanilla options account is for users interested in trading options.
Once you have decided which account you are eligible for and that will suit your needs, you will then head over to Avatrade.com and click the “Let’s get started” button. The website will, from there, take you through a series of steps that will retrieve your information as well as your trading preferences. This step will only take a couple of minutes of your time. Once you are set up, you will have the option to use the Avatrade demo account. Since trading can be tricky when going straight into the real account as a beginner, the demo account is highly recommended especially if you are new to trading and investing. Avatrade demo account is there to allow users to learn the platform and refine their strategy before utilising their Avatrade real account.
Those who reside outside of the European Union will be limited to the Standard account, which allows for leverage up to 1:400. For traders with more capital, the VIP account requires a deposit of $10,000 or greater and offers the lowest spreads of all of the account options.
ome additional account options include the crypto account, the Islamic account, and the vanilla options account. The crypto account is available to anyone in the world who wishes to trade cryptocurrencies. The Islamic account is available for traders who are Muslim, and it eliminates overnight swap and trade fees. The vanilla options account is for users interested in trading options.
Once you’ve decided which account you are eligible for and that will suit your needs, you will head over to Avatrade.com and click the “let’s get started button.” The website will take you through a series of steps that will retrieve your information and trading preferences – this step only takes a couple of minutes. Once you are set up, you will have the option to use the Avatrade demo account, which we highly recommend. The Avatrade demo account will allow users to learn the platform and refine their strategy before utilizing their Avatrade real account.
Deposit & Withdrawal
The minimum deposit to use the Avatrade real account is $100; this is equivalent to an Avatrade minimum deposit Zar of 1, 549.00 for traders in South Africa. The platform allows deposits from USD, EUR, GBP, CHF, and AUD currencies, and there are no deposit fees. Users can make deposits through E-payments such as WebMoney, Wire Transfers, or major Credit/Debit cards such as Visa. The currencies accepted for deposits could be considered a con for Avatrade as other brokers host more options such as cryptocurrencies.
If you are located in a country whose currency is not accepted by Avatrade, you will need to pay currency conversion fees through your bank. If you decide to try out Avatrade, you may want to look into a bank account that will allow for the holding of several currencies and has excellent conversion rates because the conversion rates can add up.
The minimum deposit that is required to make use of the Avatrade real account is $100. This is equivalent to an Avatrade minimum deposit Zar of 1,549.00 for traders in South Africa. The platform allows deposits from the following currencies:
- USD
- EUR
- GBP
- CHF
- AUD
There are no deposit fees. Users can make deposits through E-payments such as WebMoney, Wire Transfers, or major Credit/Debit cards such as Visa. The currencies accepted for deposits could be considered as a con for Avatrade as other brokers host more options such as cryptocurrencies.
How long do AvaTrade withdrawals take?
When traders are ready to withdraw, they can request funds through the platform and expect to receive the funds within one to seven business days; the length of time depends on the payment method. Wire Transfers are the slowest withdrawal method and can take up to ten business days for users to receive their funds. While there are no fees associated with withdrawal, the slow process can be a turn-off for users when other brokers and platforms offer near-instantaneous withdrawal.
AvaTrade Trading Platform Overview
Almost all locations will allow access to Avatrade, but there are some exceptions. People located in the United States, Belgium, and Iran are not eligible for any accounts through Avatrade. For those who are eligible to use Avatrade, opening an account is quick and easy, but there are different account types that users can choose from, which will also largely depend on where you live.
Half of the accounts opened service people in the European Union and the other service users outside of the European Union. Those who reside within the European Union can choose between a retail account, a spread betting account, or a professional account. Although, the spread betting account is only available to traders located in the United Kingdom and the Republic of Ireland. The difference between the retail account and a professional account is the amount of leverage available for use.
While retail accounts restrict users to a legal limit of 1:30, professional accounts allow users to leverage as much as 1:400 within Forex Instruments. The difference between spread betting accounts and retail accounts is the way position sizes are measured, but the costs and accessibilities remain the same.
Those who reside outside of the European Union will be limited to the Standard account, which allows for leverage up to 1:400. For traders with more capital, the VIP account requires a deposit of $10,000 or greater and offers the lowest spreads of all of the account options.
ome additional account options include the crypto account, the Islamic account, and the vanilla options account. The crypto account is available to anyone in the world who wishes to trade cryptocurrencies. The Islamic account is available for traders who are Muslim, and it eliminates overnight swap and trade fees. The vanilla options account is for users interested in trading options.
Once you’ve decided which account you are eligible for and that will suit your needs, you will head over to Avatrade.com and click the “let’s get started button.” The website will take you through a series of steps that will retrieve your information and trading preferences – this step only takes a couple of minutes. Once you are set up, you will have the option to use the Avatrade demo account, which we highly recommend. The Avatrade demo account will allow users to learn the platform and refine their strategy before utilizing their Avatrade real account.
