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4.1
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71% of retail CFD accounts lose money

Summary

Recommended for forex and CFD traders looking for an option to use MetaTrader platforms

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71% of retail CFD accounts lose money

AvaTrade is a global CFD and FX broker founded in 2006. It is regulated by several financial authorities, such as the Central Bank of Ireland.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall Rating
4.1
Fees
3.4
Account opening
5.0
Deposit and withdrawal
4.5
Trading platform
3.0
Markets and products
2.0
Research
2.3
Customer service
4.4
Education
4.0

AvaTrade pros and cons

The account opening is easy and fully digital. AvaTrade offers various deposit and withdrawal options which are free of charge. It also has great educational tools.

The product portfolio is limited as it offers only CFDs, forex, and cryptos. Research tools are limited as trading ideas, fundamental data, and news feed are not provided. The phone support is poor.

Pros Cons
Easy and fast account opening Only CFDs, forex, and cryptos offered
Free and multiple deposit and withdrawal options Limited research tools
Great education tools Phone support is not responsive
AvaTrade main features and highlights
🗺️ Country of regulation Ireland, Australia, Japan, South Africa, British Virgin Islands
💰 Trading fees class Low
💰 Inactivity fee charged Yes
💰 Withdrawal fee amount $0
💰 Minimum deposit $100
🕖 Time to open an account 1 day
💳 Deposit with credit card Available
👛 Depositing with electronic wallet Available
💱 Number of base currencies supported 5
🎮 Demo account provided Yes
🛍️ Products offered Forex, CFD, Crypto
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71% of retail CFD accounts lose money
Gergely Korpos

Gergely Korpos

Co-founder, CPO

Author of this review

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

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

AvaTrade review
Fees

3.4
AvaTrade has average trading fees and average non-trading fees. Withdrawal is free of charge but there is an inactivity fee.
Pros Cons
Low trading fees Inactivity fee
No withdrawal fee Administration fee
AvaTrade fees snapshot
Assets Fee level Fee terms
S&P 500 CFD Low The fees are built into spread, 0.5 is the average spread cost.
Europe 50 CFD Low The fees are built into spread, 1 pips is the average spread cost.
EURUSD High The fees are built into spread, 0.9 pips is the average spread cost.
Inactivity fee High $50 per quarter after 3 months of inactivity

We ranked AvaTrade's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let's go over some lingo related to broker fees. What you need to keep an eye on trading fees, and non-trading fees.

Below you will find the most relevant fees of AvaTrade for each asset class. For example, in the case of forex and stock index trading spreads, commissions and financing rates are the most important fees.

We also compared AvaTrade's fees with those of two similar brokers we selected, XM and Plus500. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of AvaTrade alternatives.

To have a clear overview of AvaTrade, let's start with the trading fees.

AvaTrade trading fees

AvaTrade trading fees are average. The fee structure is transparent and easy to calculate.

We know it is hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all fees of a typical trade for selected products.

We have chosen popular instruments within each asset class:

  • Stock index CFDs: SPX and EUSTX50
  • Stock CFDs: Apple and Vodafone
  • Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP

A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used is

  • 20:1 for stock index CFDs
  • 5:1 for stock CFDs
  • 30:1 for forex

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let's see the verdict for AvaTrade fees.

CFD fees

AvaTrade has generally average CFD trading fees.

CFD fees for a $2,000 long position held for one week
  AvaTrade XM Plus500
S&P 500 CFD benchmark fee $0.9 $2.4 $2.1
Europe 50 CFD benchmark fee $0.6 $2.4 $1.3
Apple CFD benchmark fee $4.1 $3.4 $8.9
Vodafone CFD benchmark fee $6.1 $5.6 $7.6

AvaTrade index CFD fees are very competitive after checking their competitors, XM and Plus500. In the same time, the stock CFD trading fees are at the average level.

Forex fees

AvaTrade forex fees are average.

Forex benchmark fees of a $20,000 30:1 long position held for one week
  AvaTrade XM Plus500
EURUSD benchmark fee $19.2 $17.1 $17.9
GBPUSD benchmark fee $15.7 $13.8 $14.0
AUDUSD benchmark fee $12.0 $13.9 $12.6
EURCHF benchmark fee $8.5 $9.1 $9.0
EURGBP benchmark fee $14.0 $12.2 $14.6

For all major currency pairs we compared above, AvaTrade fees are average benchmarked with their competition. Forex trading fees are built in the spreads.

Forex fees are transparent and predictable. AvaTrade supports the clarity with Forex Calculator that allows you to calculate your next forex position in 5 simple steps:

1. Enter the instrument you wish to trade

2. Set your account currency

3. Insert the leverage level

4. Decide whether to buy or sell

5. Select the trading platform (MetaTrader4 or AvaTradeGO)

AvaTrade review - Forex calculator

Non-trading fees

AvaTrade has average non-trading fees.

AvaTrade doesn't charge any account fees and deposits and withdrawals are free of charge. On the negative side, AvaTrade has an inactivity fee of $50 per quarter after 3 consecutive months of inactivity - this is in line with some of its competitors. On top of that, after 12 consecutive months of non-use, an administration fee of $100 will be deducted from the value of the account.

AvaTrade non-trading fees
  AvaTrade XM Plus500
Account fee No No No
Inactivity fee Yes Yes Yes
Deposit fee $0 $0 $0
Withdrawal fee $0 $0 $0

AvaTrade review
Account opening

5.0
Account opening at AvaTrade is seamless and fully digital. You can start trading literally in minutes.
Pros Cons
Fast None
Fully digital
Low minimum deposit

Can you open an account?

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71% of retail CFD accounts lose money

Almost all countries are accepted AvaTrade with some exceptions like the U.S., Belgium, Iran, Israel, and some others.

What is the minimum deposit at AvaTrade?

The required AvaTrade minimum deposit is $100 for credit/debit cards, but $500 for bank transfers. As usual, you deposit this amount after the account creation so you can test all platforms to make sure it fits your needs.

Account types

The types of accounts available at AvaTrade are

  • Standard account - account is owned by an individual
  • Corporate account - account is owned by a legal entity
  • Islamic account - swap-free account which means that it doesn't charge swaps for the account

If you are an experienced trader, you can request AvaTrade to open a Professional Trading account for you, where the leverage is higher than the Standard account. This requires that you have relevant experience in the financial sector, sufficient trading activity in the past 12 months and hold at least 500k portfolio value.

As an additional account type, they also provide a demo account. It is ideal to test and simulate your trading strategy.

How to open your account

Creating an account is easy and quick, just like with other CFD/Forex brokers:

  1. Input some of your basic personal data (you can use one of your social profiles like Facebook or Google, too)
  2. Answer a couple of questions that assess your level of understanding in trading
  3. Verify your identity and residency by uploading either a copy of your ID card, driving license or passport and uploading a copy of your recent utility bill or bank statement.
Avatrade Review - Account Opening

What is the minimum deposit at AvaTrade?

 

Account types

 

How to open your account

 

AvaTrade review - Account opening

AvaTrade review
Deposit and withdrawal

4.5
AvaTrade deposit and withdrawal are free and can be done by using several methods. On the flip side, the withdrawal took us more than 3 business days.
Pros Cons
Free withdrawal Slow withdrawal - over 3 days
No deposit fee
Credit/Debit cards, electronic wallet available

Account base currencies

At AvaTrade, you can choose from these base currencies: USD, EUR, GBP, CHF, and AUD. AUD is only available for Australian clients, GBP is only available for clients from the UK.

This base currency offer floats between XM and Plus500.

Base currencies at AvaTrade vs similar brokers
  AvaTrade XM Plus500
Number of base currencies 5 7 3

Why does this matter? Two things. First, if you fund your account in the same currency as your bank account, you won't be charged a currency conversion fee. Second, if you trade assets in the same currency as your account base currency, you will not have to pay a conversion fee.

A convenient way to save on the currency conversion fees can be to open a multi-currency bank account. Revolut or Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. The account opening only takes a few minutes on your phone.

Compare digital banks

Deposit fees and options

AvaTrade charges no deposit fees. Besides the bank transfer and credit/debit cards, you can use a lot of electronic wallets:

  • Neteller
  • Skrill
  • POLi for Australians

The minimum amount you can deposit is $100 or equivalent in other currencies.

AvaTrade deposit options
  AvaTrade XM Plus500
Bank transfer Yes Yes Yes
Credit/Debit card Yes Yes Yes
Electronic wallets Yes Yes Yes

When we deposited our account by using a debit card, it took 4-5 hours until the money arrived. Credit/debit cards transfer money should be instant and it was due AvaTrade verifying the deposit slowly.

If you prefer bank transfer, it can take several business days. You can only deposit money from accounts that are in your name.

Withdrawal fees and options

AvaTrade doesn't charge withdrawal fees. You can use the same options for withdrawal as at the deposit.

AvaTrade withdrawal fees and options
  AvaTrade XM Plus500
Bank Transfer Yes Yes Yes
Credit/Debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Withdrawal fee $0 $0 $0

For credit/debit cards, you can withdraw up to 200% of the amount you have deposited before. It means if you make a profit more than twice of the deposited amount and want to withdraw the whole amount, you have to use bank transfer.

How long does it take to withdraw money from AvaTrade? We tested the debit card withdrawal and it took 1 business day.

You can only withdraw money to accounts in your name.

How do you withdraw money from AvaTrade? You can withdraw money from AvaTrade by following these steps:

  • Log into your AvaTrade account
  • Go to Withdraw Funds
  • Select the withdrawal method you want to use
  • Add the amount you wish to withdraw

Compare to other brokers

AvaTrade review
Web trading platform

2.8
AvaTrade's web trading platform is provided by MetaTrader. It is highly customizable, available in a lot of languages, and has a clear fee report. On the negative side, it lacks a two-step login and the design is outdated.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation Poor design
AvaTrade platforms to choose from
Trading platform Score Available
Web 2.8 / 5 stars Yes
Mobile 4.3 / 5 stars Yes
Desktop 3.3 / 5 stars Yes

AvaTrade provides more trading platforms you can choose from:

  • MetaTrader 4, a third-party trading platform
  • MetaTrader 5, a third-party trading platform
  • AvaOptions, AvaTrade's own trading platform for forex options
  • Webtrader, AvaTrade's own trading platform
WebTrader and MetaTrader 5 are only available in certain countries, but it is not clear where. In this review, we tested MetaTrader 4 as we have opened a European account and because the platform is one of the more popular ones. 

MetaTrader 4 is available in an exceptionally large number of languages.

AvaTrade web trading platform languages
Arabic Bulgarian Chinese Croatian Czech Danish
Dutch     English Estonian Finnish French German
Greek Hebrew Hindi Hungarian Indonesian Italian
Japanese Korean Latvian Lithuanian Malay Mongolian
Persian Polish Portuguese Romanian Russian Serbian
Slovak Slovenian Spanish Swedish Tajik Thai
Traditional Chinese Turkish Ukrainian Uzbek Vietnamese  

Look and feel

The AvaTrade web trading platform has great customizability. You can easily change the size and the position of the tabs.

However, the platform feels outdated and some features are hard to find. For example, it took some time until we found how to add an asset to the watchlist.

AvaTrade review - Web trading platform

Login and security

AvaTrade provides only a one-step login. A two-step authentication would be more secure.

Search functions

The search functions are OK. You can find the assets in categories. However, we missed the usual search function where you could type in the asset's name manually.

AvaTrade review - Web trading platform - Search

Placing orders

You can use the basic order types. You will not find very sophisticated orders like the 'one cancels the other' order. The following order types are available:

  • Market
  • Limit
  • Stop

If you are not familiar with order types, read this overview.

There are also order time limits you can use:

  • Good 'til cancelled (GTC)
  • Good 'til time (GTT)
AvaTrade review - Web trading platform - Order panel

Alerts and notifications

You can't set alerts and notifications on the AvaTrade web trading platform. This feature is available only on the desktop trading platform.

Portfolio and fee reports

AvaTrade has clear portfolio and fee reports. You can easily see your profit-loss balance and the commissions you paid. These reports can be found under the 'History' tab. We didn't find a way to download them.

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AvaTrade review
Mobile trading platform

4.3
AvaTradeGo is a contemporary-looking, easy to use mobile application with a decent set of features. On the other hand, the order types are limited and it's available only in English.
Pros Cons
User-friendly No two-step (safer) login
Good search function No Touch/Face ID login
Price alerts Only in English

AvaTrade offers two trading platforms:

  • AvaTradeGO, AvaTrade's own mobile trading platform
  • AvaOptions, AvaTrade's own mobile trading platform for trading with forex options.

In this review, we tested AvaTradeGO as most clients would use that trading platform. It is available for both Android and iOS. We tested on Android. 

In contrast with MetaTrader trading platforms, it is available only in English.

Look and feel

The AvaTrade mobile trading platform looks nice and it's user-friendly.

Beyond the usual mobile functions like search function or alerts, even education videos and the customer support chat are available right within the app. It's a nice and useful detail. 

AvaTrade review - Mobile trading platform

Login and security

AvaTrade provides a one-step login.  As a plus, you can set a fingerprint login as well.

Search functions

The search functions are good. When you can search by typing the assets name, a relevant result list categorized appears.

Besides the classical magnifying search function, you can also find the assets through categories.

AvaTrade review - Mobile trading platform - Search

Placing orders

Similarly to the web trading platform, you can use only basic order types:

  • Market
  • Limit
  • Stop

There are also order time limits you can use:

  • Good 'til canceled (GTC)
  • Good 'til time (GTT)
AvaTrade review - Mobile trading platform - Order panel

Alerts and notifications

You can set price alerts that can send you push notifications. Additionally, you can also set an expiration to these alerts and notifications.

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AvaTrade review
Desktop trading platform

3.3
In design and functionalities, AvaTrade's MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts on the desktop trading platform.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) Poor design
Price alerts

Similarly to the web trading platform, you can use MetaTrader 4, MetaTrader 5 and AvaOptions as desktop trading platforms. The latter is only for trading with forex options.

In this review, we tested the MetaTrader 4 desktop trading platform as it offers more assets to trade, not just forex options.

It has the same design, is available in the same languages, offers the same order types, has the same search functions, and offers the same portfolio and fee reports as the web trading platform.

The major difference is that you can set alerts and notifications in the form of mobile push and email notifications on the desktop trading platform. To set email or mobile notifications, you have to add your email address and mobile MetaQuotes ID (you can find it in the MT4 app's settings). You can add them if you go to 'Tools' and then 'Options.'

AvaTrade review - Desktop trading platform

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AvaTrade review
Markets and products

2.0
At AvaTrade, you can trade only with forex, CFDs, ETFs, Bonds, Options and cryptos. It doesn't offer real stocks and mutual funds.

AvaTrade has a great product lineup in crypto, stock index CFDs, commodity CFDs, and forex.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

AvaTrade is a forex broker but it also offers some CFDs to trade with. To learn more about CFDs read our CFD trading tips.

AvaTrade's currency pair selection is OK, in the same ballpark with its competitors, XM and Plus500. The stock CFD offering is average, the ETF CFD product range is far from its competitor Plus500.

  AvaTrade XM Plus500
Currency pairs (#) 56 57 70
Stock index CFDs (#) 20 18 33
Stock CFDs (#) 630 1,200 1,800
ETF CFDs (#) 5 - 92
Commodity CFDs (#) 17 15 22
Bond CFDs (#) 2 - -
Cryptos (#) 17 5 14

At AvaTrade you cannot change the default leverage level of the products. We think this is something you should be in control of.

Social Trading

AvaTrade offers social trading through two third-parties, DupliTrade and ZuluTrade. Both services allow you to copy other traders' activities.

The minimum deposit for using ZuluTrade is $500, while $2,000 to start trading with DupliTrade.

AvaTrade review
Research

2.3
As a plus, you can use Autochartist on the MetaTrader and AvaTrade has a great trading position calculator. On the other hand trading ideas, fundamental data, and news feed are missing.
Pros Cons
User-friendly No trading ideas
Autochartist integration No fundamental data available
Trading calculator Missing news feed

AvaTrade does not provide trading ideas and fundamental data.

Charting

AvaTrade has OK charting tools. You can use 31 technical indicators.

AvaTrade review - Research - Charting

Compare research pros and cons

AvaTrade review
Customer service

4.4
AvaTrade has great live chat customer support, they give relevant answers. You can also contact them in many local languages. On the negative side, the phone support could be better and it's not available 24/7.
Pros Cons
Live chat No 24/7 support
Fast response time Phone support is hard to reach

You can contact AvaTrade via:

  • live chat
  • phone
  • email

AvaTrade has a great live chat. No long waiting time in the queue, we reached the customer support agent almost immediately.

We got relevant answers in detail. Besides English, you can chat in a lot of other languages including Arabic, Chinese, French, Italian, German, Russian and more.

AvaTrade phone support can be improved. On the website, you can find a long list of telephone numbers for local countries. We tried to use the number there, but it didn't work. We tried to call the international phone number four times, but after 3+ minutes of waiting time, the phone call was ended.

On email, we received answers to our emails within a day which is quite fast. The response we received didn't answer our question, but referred to a link only.

We missed 24/7 availability as well.

AvaTrade review - Customer Service

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71% of retail CFD accounts lose money

AvaTrade review
Education

4.0
Beyond a demo account, AvaTrade is packed with quality materials to educate yourself, but we missed the live webinars.
Pros Cons
Demo account Webinars are not available
Trading platform tutorial
Educational videos

The AvaTrade education section is great. The educational material offers several learning opportunities around trading basics, economic indicators, charting.

You can learn in the following ways:

  • Demo account
  • Platform tutorial videos
  • General educational videos
  • Quality educational articles

Within the video library, you will find exceptionally lot videos and they have a great quality.

The only missing part is regular webinars, which some other providers usually offer.

AvaTrade Review - The Education Section

It's a big plus that AvaTrade offers access to SharpTrader, where you can learn to trade with confidence. SharpTrader is an exceptionally good educational tool with its 40 educational units and 200 easy-to-follow video tutorials and articles.

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71% of retail CFD accounts lose money

AvaTrade review
Safety

AvaTrade is regulated by a number of regulators. It is a well-established brand but it's not listed on any exchange, does not disclose financial information and does not have a bank parent.
Pros Cons
Majority of clients belong to a top-tier financial authority Does not hold a banking license
Negative balance protection Not listed on stock exchange
Financial information is not publicly available

Is AvaTrade regulated? Yes, it is regulated by numerous authorities and bodies across the world:

  • 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)
  • and the Financial Futures Association of Japan (FFAJ)

AvaTrade is based in Ireland and was founded in 2006. Is AvaTrade safe? To be certain, it is best to check two things: how you are protected if something goes wrong and what the background of the broker is.

How you are protected

AvaTrade operates more subsidiaries and depending on your residency, one of these subsidiaries will serve you. This is important for you because the investor protection amount and the regulator differ from entity to entity.

AvaTrade legal entities
Country of clients Protection amount Regulator Legal entity
EU  €20,000 Central Bank of Ireland AVA Trade EU Ltd
Australia No protection Australian Securities and Investments Commission (ASIC) Ava Capital Markets Australia Pty Ltd
South Africa No protection Financial Sector Conduct Authority (FSCA)  Ava Capital Markets Pty
Japan No protection Japanese Financial Services Agency (FSA), Financial Futures Association of Japan (FFAJ) Ava Trade Japan K.K., 
International clients No protection B.V.I Financial Services Commission AVA Trade Ltd

AvaTrade provides negative balance protection if your account belongs to the European entity, Ava Trade EU Ltd for forex spot and CFD trading, but only for retail clients from the European Union. Professional and non-EU clients are not covered with any negative balance protection.

Background

AvaTrade was established in 2006. The longer the track record of a broker, the more proof we have that it has successfully survived previous financial crises.

Having a long track record and being regulated by several regulators including top-tier ones are all great signs for AvaTrade's safety.

Find your safe broker

AvaTrade review
Bottom line

AvaTrade is regulated by several authorities globally, including the top-tier Central Bank of Ireland and the Australian Securities and Investments Commission (ASIC) therefore it is considered safe.

We liked the seamless and hassle-free account opening. You can use a lot of deposit and withdrawal options and they are free of charge. The trading fees are low and the fee structure is transparent. AvaTrade's customer support is great via live chat. The education opportunities are great.

AvaTrade has some drawbacks though. The product range is limited to forex, CFDs, and cryptos. The research tools lack recommendations, fundamental data, and news feed.

As there is only a small minimum deposit, and inactivity fee only kicks in after three months, feel free to try AvaTrade.

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71% of retail CFD accounts lose money

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