For this AvaTrade review, we opened a real account and deposited over €4,000 in total.

We traded the popular instrument in each popular market to get the real spreads and placed a total of 21 trades.

We also reached out to customer support to solve issues that we encountered.

Finally, we withdrew our funds to see if there is any issue with the withdrawal process.

What is AvaTrade?

AvaTrade was founded in 2006 with its headquarter in Dublin, Ireland. The broker is regulated in several jurisdictions, including Ireland, Australia, the UAE, Japan, South Africa, and the British Virgin Islands.

AvaTrade started as a retail forex trading platform and now offers trading with forex, indices, commodities, bonds, cryptocurrencies, stocks, and ETFs.

Some of the key highlights of AvaTrade are:

🗺️ Authorised & Regulated inIreland, Japan, Australia, UAE, South Africa, British Virgin Islands
🛡️ Is AvaTrade safeYes
💰 EUR/USD Spread0.87
💳 Minimum depositUS$100
💰 Withdrawal feeUS$0
🖥️ Trading PlatformMT4, MT5, AvaTradeGO, AvaOptions
📈 Markets offeredForex, Indices, Commodities, Bonds, Cryptocurrencies, Stocks, ETFs
📉 Number of Products796

Licenses and Regulations

AvaTrade has gained 7 regulatory licenses from some of the top regulators, including Australia, Ireland, Abu Dhabi, and Japan.

The full list of AvaTrade’s all licenses is in the below table:

Legal entityRegistered inRegulatorLicense NumberAccepting clients fromCompensation Scheme Amount
Ava Trade EU LtdIrelandCentral Bank of IrelandC53877UK & EU clients€20,000
Ava Capital Markets Australia Pty LtdAustraliaAustralian Securities and Investments Commission (ASIC)406684AustraliaNo Compensation Scheme
Ava Trade Middle East LtdAbu DhabiAbu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA)190018Middle EastNo compensation scheme
Ava Trade Japan K.K.JapanFinancial Services Agency (FSA)1662JapanNo compensation scheme
Ava Trade Japan K.K.JapanFinancial Futures Association of Japan (FFAJ)1574JapanNo compensation scheme
Ava Capital Markets PtySouth AfricaSouth African Financial Sector Conduct Authority (FSCA)45984South AfricaNo compensation scheme
Ava Trade LtdBritish Virgin IslandsBritish Virgin Islands Financial Services CommissionRegulatory RegisterGlobally many countriesNo compensation scheme
Ava Trade EU Ltd Registration
Ava Trade EU Ltd registration details on Central Bank of Ireland website

Is AvaTrade Safe?

Yes, AvaTrade is safe to trade.

Under the Irish regulator, funds of AvaTrade clients are protected with a €20,000 compensation scheme. Most of the other licenses acquired by AvaTrade are also considered very reputable in the trading industry.

Additionally, AvaTrade offers AvaProtect, which provides insurance on losses for any specific trade for a specific period. This risk management scheme offers protection of up to $1 million and is applicable only for market orders.

For this review, we opened an account with Ava Trade EU Ltd which is regulated by the Central Bank of Ireland. For our tests which we deposited money, placed trades, and withdrew deposits.

We recommend you register your account with the Irish, Australian, or Abu Dhabi entity.

Fees and Commissions

AvaTrade fees are built into the spreads. The broker, however, offers attractive spreads on forex, stocks, commodities, and cryptocurrency CFDs.

Spread Charged in Our Trades

For our tests, we have chosen popular instruments in each market offered by AvaTrade. We placed 3 trades for each instrument to get a picture of the average spread. The spreads for all the asset classes did not fluctuate much for our trades.

Details of our trades are shown below the table.

MarketsInstruments1st trade2nd trade3rd tradeAvg. spread
ForexEUR/USD0.90.80.90.87
IndicesFTSE 100111.51.17
CommoditiesGold3.43.54.13.67
BondsGVD/EUR Bund0.040.040.040.04
CryptocurrenciesBitcoin56.6956.8460.2657.93
StocksApple2.12.12.12.1
ETFsVXXB0.130.130.130.13

AvaTrade’s spreads for forex are much below the industry standards. The offered spreads on indices and commodities are also below the average industry benchmark.

Cryptocurrency and stock spreads are, however, are above the average industry average.

MarketsInstrumentsAvg. spread charged in our tradesIndustry avg. spread
ForexEUR/USD0.871.6
IndicesFTSE 1001.171.5
CommoditiesGold3.673.8
BondsGVD/EUR Bund0.04
CryptocurrenciesBitcoin57.9345
StocksApple2.11.5
ETFsVXXB0.13

Other Fees

AvaTrade charges an inactivity fee of US$50 or €50 or £50 every quarter after 3 months of account inactivity. In addition to that, the broker charges administration fees of US$100 or €100 or £100 after a year of inactivity.

Account Types

AvaTrade offers only a single account type to the traders. 

The broker also offers Islamic trading accounts to its Islamic clients. This type of account operates under Sharia Law.

Account Opening

Opening a new account with AvaTrade is fast and easy.

Steps to create an AvaTrade account:

  1. Enter the first name, last name, email, and phone number (you can also sign up with Facebook or Google account).
  2. Provide personal and professional information: including date of birth and address; set password; select trading platform and base currency.
  3. Provide professional details like occupation, income level, estimated net worth, and source of trading funds.
  4. Click on “upload documents” to submit various identification proofs.

We have submitted the following documents to verify our AvaTrade account:

  1. Copy of national identification (both front and back)
  2. Copy of utility bill as address proof

The registration process took merely 15 minutes. Our account was verified after 1 business day.

We registered our accounts on October 4, 2020, and it was verified on October 5, 2020.

Overall, our account opening experience was quick and smooth, with one minor issue.

After submitting all the documents, our AvaTrade account logged out. When we tried to login again, our password was showing wrong even though it was correct. We have to reset the password.

AvaTrade Account Opening
AvaTrade account verification page

Deposit and Withdrawal

Deposits on AvaTrade accounts are fast and easy, but processing withdrawal requests take a bit of time. The broker does not charge anything for deposits and withdrawals.

Minimum Deposit

AvaTrade has a minimum deposit amount of US$100 for all payment methods.

Deposit

AvaTrade allows client deposits through wire transfers, credit cards, and popular e-wallets like Skrill, Neteller, and Paypal.

Deposits with credit cards are not available in Canada, while EU and Australian clients cannot use Skrill, WebMoney, and Neteller.

We have tested the deposit process on AvaTrade using multiple payment modes.

There was no deposit fee and for most of the payment methods, funding was instant.

Details of our fund deposits are shown in the below table.

Payment MethodSubmitted DateFunded Account DateFunding TimeFee
Credit/Debit card2020-11-112020-11-113 hourszero
Skrill2020-11-112020-11-11Instantzero
NETELLER2020-10-282020-10-28Instantzero
Paypal2020-11-112020-11-11Instantzero

Our debit card deposit was not instant. It showed “pending” for 3 hours before the amount was approved and funded.

AvaTrade Deposit Methods
AvaTrade’s fund deposit page

Withdrawal

AvaTrade supports withdrawals with multiple payment methods, similar to its deposits. The broker does not charge any withdrawal fee.

Our experience with the withdrawal process was mixed. We faced some issues with our initial withdrawal requests, but it was quickly resolved.

First, we submitted 4 withdrawal requests on the same day, each with a different payment method. AvaTrade rejected all these requests

We reached out to Avatrade customer support for this issue. 

The customer support executive told us that as we deposited through different payment methods, we have to withdraw our fund through the same order and the same amount for each payment method. Any remaining booked profits need to be withdrawn using the last used deposit method.

We did as we were instructed and received the funds.

Details of our withdrawal requests are in the table below.

Payment MethodSubmitted DateFund Released DateFund Arrived DateWithdrawal TimeFee
Credit/Debit card2020-11-17RejectedNANA
Skrill2020-11-17RejectedNANA
NETELLER2020-11-17RejectedNANA
Paypal2020-11-17RejectedNANA
Credit/Debit card2020-11-182020-11-202020-11-202 working dayszero
Skrill2020-11-192020-11-202020-11-201 working dayzero
Paypal2020-11-222020-11-222020-11-22same dayzero

Markets and Products

AvaTrade offers CFDs trading services in various popular markets, including forex, indices, commodities, bonds, cryptocurrencies, stocks, and ETFs.

It offers a fair number of instruments across all the markets. All instruments on AvaTrade are CFDs.

The complete list of AvaTrade offerings are:

MarketsInstruments
Forex55
Indices23
Commodities29
Bonds2
Cryptocurrency14
Stocks614
ETFs59

AvaTrade also offers vanilla forex options for which a separate account with AvaOptions is needed.

Trading Conditions

AvaTrade offers good trading conditions. The broker allows both hedging and scalping. It also offers copy trading services with two third-party services: DupliTrade and ZuluTrade.

AvaTrade offers MQL5 Signals Services as well.

The broker, however, does not allow traders to change the leverage levels.

Trading MethodAllowed
HedgingYes
ScalpingYes
Change LeverageNo
Copy TradingYes

Leverage

Traders can change and adjust their leverage levels on AvaTrade.

MarketsAva Trade EU LtdAva Capital Markets Australia Pty LtdAva Trade Middle East LtdAva Capital Markets PtyAva Trade LtdAva Trade Japan K.K.
Currency Pairs30:1400:1400:1400:1400:125:1
Gold20:1200:1200:1200:1200:1NA
Oil10:1100:1100:1100:1100:1NA
Other Commodities (except Gold and Oil)10:150:150:150:150:1NA
Major Indices20:1200:1200:1200:1200:1NA
Non-major Indices10:1100:1100:1100:1100:1NA
Bonds5:120:120:120:120:1NA
Stocks5:110:110:110:110:1NA
ETFs5:120:120:120:120:1NA
Cryptocurrencies2:120:120:120:120:1NA

Australian ASIC will impose major restrictions on leverages offered by the retail brokers, which will come into effect on March 29, 2021.

Bonus

AvaTrade offers attractive bonuses on the first deposits of its clients.

The promotional offer is valid for clients under three regulated entities:  Ava Capital Markets Pty, Ava Trade Ltd, and Ava Capital Markets Australia Pty Ltd.

Clients from countries, including European countries, Canada, Japan, Bangladesh, China, Hong Kong, Indonesia, Iran, Macao, Malaysia, Mongolia, Pakistan, Taiwan, Thailand, and Vietnam, are not eligible for deposit bonuses.

Deposits via Skrill and Neteller are not eligible for this promotional offer.

The first deposit bonus for traders under Ava Capital Markets Pty are:

Deposit AmountBonus Amount
US$50,000US$10,000
US$20,000US$4,000
US$10,000US$2,000
US$5,000US$1,000
US$3,000US$600
US$2,000US$450
US$1,000US$300
US$600US$200
US$100US$30

The first deposit bonus for traders under Ava Trade Ltd, and Ava Capital Markets Australia Pty Ltd are:

Deposit AmountBonus Amount
US$50,000US$10,000
US$20,000US$4,000
US$10,000US$2,000
US$5,000US$1,000
US$3,000US$600
US$2,000US$400
US$1,000US$200

Trading Platform

AvaTrade offers multiple trading platforms:

  • MetaTrader 4
  • MetaTrader 5
  • WebTrader (AvaTrade’s propriotary web-based platform)
  • AvaOptions (for forex vanilla options)
  • AvaTradeGo (for mobile trading)

MetaQuotes Software developed the MetaTrader platforms, and they are among the widely used third-party trading platforms.

AvaTrade’s own web trading platform and its mobile trading platform are also very clean and easy to use for the traders.

For our tests, we placed the orders on the MetaTrader 4 mobile platform.

AvaTrade Trading Platform
AvaTrade’s WebTrader trading platform

Research and Tools

AvaTrade offers a good set of research tools. The charting tools are excellent with many functions. 

Some of the key tools are:

  • Excellent charts
  • Economic calendar
  • Trading calculator
  • Popular trading ideas
  • A good news feed

On the downside, the broker lacks in offering good fundamental data on the markets.

AvaTrade Charting Tool
Charting tools on AvaTrade WebTrader

Education

AvaTrade offers excellent trading educational materials for new traders.

The educational resources of the broker include:

  • Tutorial videos on trading and platform-tools
  • eBooks and web-based guides on trading
  • Webinars

The broker also offers a demo account for novice traders.

AvaTrade Educational Material
AvaTrade video tutorial page

Customer Service

AvaTrade has excellent customer support.

Traders can contact the broker via:

  • Live chat
  • email
  • Phone
QuestionResponse TimeQuality of reply
Live ChatWe asked several questions5 minsThe answer was clear and direct
EmailWe asked if AvaTrade allows to change trading leverage
same dayThe answer was clear and direct

To check AvaTrade’s customer service, we have asked several questions via live chat. One of the questions we asked is if AvaTrade allows hedging and scalping.

We received a reply in less than 5 minutes.

Live chat is only available on the weekdays (East European working hours).

AvaTrade offers support in several languages.

The broker also maintains a detailed Q&A page for mostly faced issues.

AvaTrade Customer Support
AvaTrade live chat support

Conclusion

Overall, our experience with AvaTrade is positive.

The broker offers impressive spreads on forex pairs.

Though we faced withdrawal rejections at first, the issue was resolved quickly by the support staff. Our experience with customer support was also good.

We recommend Avatrade to traders who focus on trading currencies and traders who would like to run hedging or scalping as their trading strategies.


Author of this review

By George Rossi

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.

Now I am passionate about reviewing and comparing forex brokers.

Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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