AvaTrade Review
AvaTrade Review 2022: AvaTrade was founded in 2006 in Dublin, Ireland by Emanuel Kronitz and Negev Nosatzki. The company started operating as a forex trading company Ava FX before branching out into other types of trading such as CFDs.
Today, AvaTrade broker has more than 200 000 clients who trade over $2 million per month. The trading firm has become popular among South African brokers. It is considered as one of the most reliable and trustworthy brokers in the country and across the globe.
Its headquarters are in headquarters in Dublin, Ireland, and regional offices in Paris, Dublin, Milan, Tokyo and Sydney. AvaTrade also operates in China, Chile, South Africa, Madrid, Mongolia and Nigeria.
AvaTrade is regulated by the Central Bank of Ireland. The MiFID Directive provides a passport, which allows the entity to operate throughout the European Union Ava Capital Markets Australia Pty Ltd is licensed by ASIC in Australia. Ava Capital Markets Pty Ltd is licensed in South Africa by the FSB.
AvaTrade serves customers in over 150 countries and is available in the following languages: Dutch, English, Finnish, French, Italian, German, Korean, Spanish, Portuguese, Arabic, Russian, Chinese, Swedish and Turkish.
Types of accounts offered by AvaTrade South Africa
AvaTrade offers four different types of accounts. Silver, Gold, Platinum and Ava Select. These accounts differ in terms of the minimum deposit required and in terms of access to market analysis and a direct dealing room. They also offer Demo Accounts where beginners can learn how to trade before trading with real money.
Types of trading services offered by AvaTrade
With AvaTrade, you will have the opportunity to trade a wide range of CFDs including commodities, indices, ETFs, stocks and bonds.
- Stocks. You have access over 100 different stocks with AvaTrade, including leading global brands like Apple and Google.
- Forex and FX options. Access 60 currency pairs including major and minor currency pairs.
- Indices. Access leading global indices including the SPI 200, S&P 500, NASDAQ 100 and more.
- Commodities. Trade energy and agricultural commodities plus popular metals.
- Bonds. Access a small range of bonds from the US, Europe and Japan.
- ETFs. Access a small range of ETFs.
AvaTrade trading platform and apps
AvaTrade enables you to trade from your PC or Mac as well as from your chosen web browser. Mobile trading is also available via iPhone and Android devices using AvaTrader Mobile.
AvaTrader is AvaTrade’s exclusive trading platform. You will not find it in any other online forex brokers. AvaTrader platform has been designed by AvaTrade exclusively. The broker also offers MetaTrader 4.
Payment and withdrawals
You can withdraw or deposit funds into your account via debit or credit card (Visa or Mastercard) or by wire transfer. The minimum deposit to open an account is $250 if depositing via credit or debit card, and $500 if depositing via wire transfer.
Pros / Cons
- 24/hour customer support available plus dedicated account managers
- Education resources available
- Choice of platforms suited to beginners and advanced traders
- Free demo account available
- Up to 20:1 leverage
- All pairs can be shorted
- You can start trading with as little as US$100
- Medium range of spot forex pairs (60)
- No proprietary desktop or web platform
- ActTrader platform not part of main offering
- Demo account limited to 21 days
- Withdrawals can take up to 10 days – however, they do tend to be 1/2 working days
- MT4 platform lacks any standout features
Conclusion
AvaTrade broker is one of the best forex traders in South Africa. You get an opportunity to trade up to more than 60 currency pairs. The leverage is up to 400:1. Their spreads are fixed but you also get floating spreads. The broker is transparent financially and regulated in several countries including South Africa.