Avatrade Review 2021

In this new review we’ll show you:

  • How to ensure your trading funds are safe 
  • Fees and Features compared with other brokers
  • Leverage and regulation offered 
  • Customer reviews from trusted sources such as Trustpilot, Google Play and Apple Store
 

Plus lots more

4.06/5 from 7,950 Avatrade Customer Reviews

Let’s get started with the Avatrade Review 2021

Before starting the review we would just like to let you know that all brokers signed up to via our Safe Broker Search are eligible for our free insurance that will help protect your deposit in case of broker failure. 

 

Additionally, all brokers signed up to via the search are eligible for £85,000 deposit protection provided by FSCS. You simply need to select FCA regulation upon broker signup. 

Overview

AvaTrade is an Ireland based award-winning broker offering (CFDs) on Commodities, Stocks, Indices, Cryptocurrencies and many more products. 

 

Avatrade is regulated in 6 jurisdictions with customers in over 150 countries. Avatrade has tight spreads, simple deposit methods, a multilingual customer support team and 1000+ instruments with immediate execution of positions.

 

AvaTrade provides access to multiple FX trading platforms such as MT4, MT5, DupliTrade and WebTrader. They also have their own proprietary AvaTradeGO mobile App.

 

AvaTrade’s Demo account allows beginners to learn how to trade whilst also enabling advanced traders to test their strategies and navigate the app risk-free.

 

Traders can enjoy exclusive access to many tutorials, eBooks, economic indicators and also be able to access the Sharp Trader academy.

 

Avatrade also has a variety of webinars hosted by Avatrade experts that encompass all the relevant aspects of trading. 

 

AvaTrade is also a partner of Manchester City Football Club.

User reviews

Before depositing your hard-earned cash, it’s always a good idea to have a look around and see user reviews from other traders. We always suggest that you don’t just rely on a single rating on any review site as they don’t give a proper representation of the company on the whole. 

Here is a sample of Avatrade user reviews which will give you a better indication of how your broker is viewed by its customers.

So to summarise:

AvaTrade averages 4.4/5 with over 3,400 Avatrade Trustpilot reviews.

 

AvaTrade also averages 1.5/5 from over 30 Avatrade Google reviews.

 

The FPA scores Avatrade as 2/5 from over 450 Avatrade FPA reviews.

 

The AvaTrade Play Store reviews are 4.1/5 from over ‎3,800 reviews. 

 

The AvaTrade App Store reviews average 4.4/5 from over 280 customer reviews.

 

They also have over 100,000 Avatrade Facebook Likes.

 

The FPA and Google negative reviews appear to be mostly about the speed of withdrawals. We would always recommend a broker who is FCA regulated because it is mandatory for brokers to process withdrawals in one business day as per the FCA handbook regulations. 

 

However, Avatrade doesn’t offer this regulation so it’s best to choose the next best which is Ireland regulation so that you aare covered by EU legislation. 

 

On the whole, Avatrade appear to be fairly well respected by the trading comminity. It appears that the Apple App is much better received than the Android App. It has a bustling Facebook community with plenty of followers which also usually suggests happy customers.

Funds Safety & Regulation

Funds safety is critical in your trading and it can make or break your financial future. Your level of funds protection will depend on where your regulation is from. Your country of residence does not necessarily define who your regulator will be.

 

There are many factors that go into determining your regulation. So check with your account manager after you have signed up and before you deposit to determine which body you are regulated with. 


You can usually switch regulation on signup [depending on your country of origin] which can be a good idea if you want to ensure that you get the best regulator that offers the most consumer protection and funds safety. 

Avatrade is regulated in several jurisdictions each with different levels of funds protection.

 

Avatrade is regulated by the Central Bank of Ireland as AVA Trade EU Ltd (Reference No.: C53877) and licensed throughout the European Union compliant with the Markets in Financial Instruments Directive (MiFID).

 

Avatrade is also regulated as Ava Capital Markets Australia Pty Ltd by ASIC in Australia and as the Financial Services Commission (FSC) of Mauritius.

 

They are also regulated as Ava Trade Japan K.K., by FFAJ Financial Futures Association in Japan, and as AVA Trade Ltd by the B.V.I Financial Services Commission in the British Virgin Islands.

 

Avatrade is regulated as Ava Capital Markets Pty by the Financial Sector Conduct Authority (FSCA) of South Africa.

 

Avatrade is also regulated as AvaTrade Middle East Ltd by Abu Dhabi Global Market Authorities Financial Services Regulatory Authority (ADGM – FSRA)

 

If you are regulated in Abu Dhabi there is no funds compensation scheme.

 

If you are regulated in Japan there is no funds compensation scheme.

 

If you are regulated in South Africa there is no funds compensation scheme.

 

If you are regulated in British Virgin Islands there is also no funds compensation scheme.

 

If you are regulated in Mauritius there is also no funds compensation scheme.

 

If you are regulated in Australia there is no funds compensation scheme.

 

Also, the Australian Securities and Investments Commission will not extend investor protections to clients receiving financial services outside of Australia. 

 

If, however, you are regulated in Ireland then your funds are protected by Ireland’s Investor Compensation Scheme (ICS). The ICS offers a guarantee of funds of 90% of remaining deposit up to €20,000 in case of firm liquidation.

 

As always, we would recommend you to request your regulation as the one that offers the most protection. In this case it would be Irish regulation.

Fees

Below is a selection of Avatrade’s fixed fees. However, all fees are subject to change and you should check with the Avatrade website for the latest fees because by the time they are published here they can be out of date. 

 

Deposit Fee None

Withdrawal Fee None

Inactivity Fee $/£/€50 per quarter after 3-months of inactivity

Administration Fee $/£/€100 after 12-months of inactivity

 

With regards to spread fees, this will depend on a variety of factors. This will include your account type, the asset that is being traded as well as the times that they are traded as they fluctuate depending on if trading is taking place within or outside standard trading hours. Once again, these trading hours will depend on the asset being traded. 

 

 

Professional clients are afforded lower spreads than retail clients. But few clients will have the requisite deposit to meet that designation. Also, professional clients will waive their right to any funds protection that will be given to retail clients [regulation dependant].

 

 

There is a page with all the spreads of all the tradable instruments and they also have the overnight calculations, inactivity fees and maturity rollover fees.  

 

It’s impossible to give a definitive answer as to spreads due to the many permutations involved in calculating the spreads so it’s better to get the actual spreads from the website itself.

Avatrade’s marketing page only lists fixed spreads. There is no documentation on floating spreads. To find the information on the spreads you will need to go into the FAQ. There is also no clear documentation for the actual spreads on Islamic accounts.

 

Our legal department found a legal document which contained discrepancies on spread and fee disclosures. There are also some hidden withdrawal fees with a provision to charge commissions on some account types. But the account types affected were not disclosed. 

 

This lack of transparency could be fixed with more detailed information and side by side comparisons.

Leverage

The leverage at Avatrade will depend on where you are regulated.

 

If you are regulated in The British Virgin Islands by The Financial Services Commission (FSC) your maximum leverage will be 1:400

 

If you are regulated in Japan by The Financial Futures Association of Japan (FFAJ) your maximum leverage will be 1:25

 

If you are regulated in South Africa by The Financial Sector Conduct Authority (FSCA) of South Africa your maximum leverage will be 1:400

 

If you are regulated in Abu Dhabi by The Financial Services Regulatory Authority (FSRA) your maximum leverage will be 1:30.

 

If you are regulated in Mauritius by The Financial Services Commission (FSC) your maximum leverage will be 1:400.

 

 

If you are regulated in Australia by The Australian Securities and Investments Commission (ASIC) your maximum leverage will be 1:30. 



If you are regulated in Ireland by The Central Bank of Ireland your maximum leverage will be 1:30 in accordance with Markets in Financial Instruments Directive (MiFID).

 

Bear in mind that your leverage level is often correlated with funds safety. UK and EU regulators generally have lower leverage but you would benefit from much better funds safety levels (€100,000 and €20,000 respectively). If, however, you chose to be regulated offshore or in Australia then no funds protection is offered. So a tradeoff is usually required by you and will depend on how risk averse you are.

 

One thing to bear in mind is that if you deposit more to get the higher levels of leverage then your funds will still be covered by the state-backed compensation schemes up to the requisite maximums. 

 

Therefore, trading at an offshore jurisdiction to get more leverage would give you no financial benefit but would carry the risks associated with offshore trading such as lack of compensation schemes, lack of arbitration as well as lack of consumer protection.

Trading Products

With Avatrade you can trade CFDs on forex, indices, commodities, ETFs, stocks and bonds.

Share ownership is not offered at Avatrade.

 

Broker Comparison

Before you decide on a broker it’s always a good idea to compare with other similiar brokers to ensure that your broker will deliver what you are looking for. 

 

You can select the brokers below and compare fees and features with other brokers. You can also compare funds safety levels as well as customer reviews from a variety of trusted sources.

 

By comparing, you have a better idea if this broker is right for you or if another one would be more suited to your requirements.

Selected brokers are added here – Press to compare features and customer ratings

FAQs

What is the minimum deposit at AvaTrade?

The minimum deposit at AvaTrade is £/€/$100 depending on your base currency that you opened your account in. This applies to credit/debit cards as well as to bank transfers.

 

Is AvaTrade a good broker?

The best way to know if Avatrade is a good broker is to check the user reviews. They average 4.4/5 at Trustpilot reviews, 4.1/5 at Google Play Store and 4.4/5 App Store reviews  They also have over 100,000 Avatrade Facebook Likes which suggests that Avatrade is a good broker.

 

Is AvaTrade free?

AvaTrade isn’t free and doesn’t offer commission free trading like some competing brokers such as Trading 212 offer. However, they have low CFD and average forex fees with the fees being built into the spread such is industry standard. 0.5 is the average spread during peak trading hours.

 

Does AvaTrade give a bonus?

It depends on the regulation. For example, Ireland regulation doesn’t allow the use of bonuses as it is governed by MiFID. However, If you choose to be regulated by one of the offshore regulators, you can get a bonus of up to $400 for referring a friend depending on your friend’s initial deposit.

 

Is AvaTrade halal?

You can request an Islamic account at Avatrade. AvaTrade makes Islamic accounts available to any trader who wishes to abide by Sharia Law and remain halal in their trading practice. However, you also need to make sure that your investments are Shariah compliant. You can do this by using a shariah stock screener such as Islamicly or Finispia to determine the stock’s compliance.

 

What is AvaTrade leverage?

Depending on regulation, AvaTrade offers a maximum leverage of 1:400 on Forex and indices, 1:200 on commodities, 1:20 for individual stocks and shares and ETFs, and 1:20 on cryptocurrencies. Ireland (EU regulation) has the lowest leverage (1:30) but offers the highest customer protection levels including funds safety guarantee.

 

Does AvaTrade have Nasdaq?

Yes, AvaTrade offers Nasdaq trading. 

 

Does AvaTrade have volatility 75 index?

AvaTrade does not offer the Volatility 75. If you choose, you are able to expand your portfolio with other indices like the US 30 or the DAX 30 or FTSE 100.

 

Is AvaTrade regulated in Australia?

Yes, AvaTrade is licensed in Australia.  They are licenced as Ava Capital Markets Australia Pty Ltd by ASIC (licence #406684) with ACN registration 143 340 907

 

What is Ava protect?

Avatrade offers AvaProtect which is a risk management tool offering protection against losses on a specific position for a chosen time frame in exchange for a fee paid at the time of purchase.

 

Is AvaTrade FCA regulated?

AvaTrade is not FCA regulated.

Conclusion

Avatrade is a well-respected broker who are enviably regulated in 6 jurisdictions including well-respected ones such as Japan, Australia and Ireland.

 

Avatrade also has good customer reviews from a variety of sources with most happy with their experience there. The main customer gripe seems to be withdrawal times which can be slow at times. Customers seem particularly impressed with the Apple mobile trading App but less so with the Google Android App.

 

All in all, Avatrade provides a good option for traders of all calibres, whether beginner or advanced and you should feel like you are trading with a reputable broker.

Written by James Finn

Written by James Finn

James is an ex-Barclays Bank financial services professional who wants to create a safer investing space for newcomers. James provides facts, not opinions on all brokers reviewed.

Review Last Updated July 2021

Additional information

24H support

24/5

Company size

500

Company Type

Privately Held

Deposit/Withdrawal options

Bank Wire Transfer, Credit Card, Debit card, Klarna, Neteller, PayPal, Skrill, WebMoney

Foundation year

2006

Inactivity fee

50

Google review

1.5

Regulations

ADGM-FSRA, ASIC, B.V.I Financial Services Commission, Central Bank of Ireland, Financial Futures Association, FSC, FSCA, MiFID

Mobile app

MT4, MT5

Min deposit

100

What you can trade

CFDs, Commodities, Cryptos, Forex

Trustpilot review

4.4

Commission Free

Yes

Metatrader [PC]

WebTrader

Available countries

Albania, Algeria, Angola, Antigua and Barbuda, Argentina, Armenia, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belgium, Benin, Bhutan, Bolivia, Botswana, Brazil, Brunei, Bulgaria, Burkina Faso, Cabo Verde, Cameroon, Chad, Colombia, Comoros, Congo, Cote d'Ivoire, Croatia, Cuba, Cyprus, Czech Republic, Denmark, Djibouti, Dominican Republic, DR Congo, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Eswatini, Ethiopia, Fiji, Finland, France, Gabon, Gambia, Georgia, Germany, Ghana, Greece, Grenada, Guatemala, Guinea-Bissau, Guyana, Honduras, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, Kuwait, Kyrgyzstan, Laos, Latvia, Lesotho, Liberia, Liechtenstein, Lithuania, Luxembourg, Madagascar, Malawi, Malaysia, Maldives, Malta, Marshall Islands, Mauritania, Mauritius, Mexico, Micronesia, Moldova, Monaco, Mongolia, Morocco, Mozambique, Namibia, Nauru, Nepal, Netherlands, New Zealand, Nicaragua, Niger, Nigeria, North Macedonia, Norway, Oman, Palau, Papua New Guinea, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Romania, Rwanda, Saint Lucia, Saint Vincent and the Grenadines, Samoa, San Marino, Sao Tome and Principe, Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, South Africa, South Korea, Spain, Sri Lanka, Suriname, Sweden, Switzerland, Tajikistan, Tanzania, Thailand, Timor-Leste, Togo, Tonga, Trinidad and Tobago, Turkmenistan, Tuvalu, Uganda, United Arab Emirates, United Kingdom, Uruguay, Uzbekistan, Vanuatu, Vietnam, Zambia

Specialties

Automated Trading, CFDs, Commodities, Customer Support, Day Trading, Education, ETFs, Forex, Indices, Introducing Brokers, Mirror Trading, Mobile Trading, Web Trading

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