AvaTrade Review [ZA]: Is This Forex & CFD Trading App Safe? Urgent South Africa Customer Update!

It has been determined that AvaTrade is excellent for copy trading, competitive for mobile, and generally in line with the industry average for pricing and research.

How does one create an account on AvaTrade?

Similar to most other CFD/Forex brokers, creating an account is simple and quick:

Enter some essential personal info (you can use your existing profiles on Facebook or Google as a shortcut)

Fill in employment details, savings, and income status information.

People will be required to answer a few questions designed to evaluate their trading experience, expertise, and objectives.

They will need to upload a copy of their identification card, driver's license, or passport, as well as a recent utility bill or bank statement to confirm their identity and address.

Features of AvaTrade

Hedging and Scalping

Hedging and Scalping

One-Click Trading

SMS and Email Alerts

Trailing Stop-Orders

Markets and Stop Orders

OCO and Limit Orders

Charting Package

Round the clock trading

Continuous News Feed

Account Currencies

USD

PLN

EUR

GBP

Leverage

30:1 (EU)

Professional (400:1)

Minimum Deposit

$100

Financial Instruments

Indices of Foreign Exchange Commodities

Shares/Stocks

Bonds

CFDs

Cryptocurrency

Demo Account

Yes

Copy Trading Support

Yes

Offerings

The breadth of markets offered by AvaTrade depends on the trading platform that users select and which of the company's global organizations manages the account. AvaTrade offers 1,260 symbols (available in MT5) and nearly the same number is available on WebTrader, though a few hundred of these symbols are currently unavailable.

Mobile trading apps

The mobile experience given by AvaTrade's proprietary apps will satisfy the majority of traders (beginners included). However, they are not quite as complicated as the mobile apps offered by industry leaders. However, AvaTrade continues to advance in this sector and offers a comprehensive array of applications.

Apps summary: AvaTrade offers its own mobile platforms, AvaOptions and AvaTradeGO, in addition to the entire MetaTrader suite for iOS and Android smartphones.

The AvaTradeGo app provides a robust default set of syncing watchlists as well as a volatility protection tool known as AvaProtect. AvaProtect enables a trader to lessen the risk on an open position by partially hedging it with a forex option for an additional fee.

Charting: The AvaTradeGo app's charts have 93 indicators, but accessing them requires numerous steps. However, there are no sketching tools and only three chart types available for selection. Trading Central offers integrated research and related capabilities similar to those found on the web platform. AvaTrade's mobile charts are nice, but there is space for improvement.

AvaOptions: The AvaOptions app is well-designed and displays option-chain data in a novel manner. AvaTrade superimposes strike prices onto a chart, enabling traders to alter the strike price by simply moving it up or down. There are also fourteen default options-trading strategies, and picking one will load the order ticket with the corresponding options contracts. The entire app experience is presented in landscape orientation, requiring users to handle their phone like a game controller.

Other trading platforms

AvaTrade provides a vast selection of copy trading platform solutions.

AvaTrade offers two trademarked platforms (AvaOptions and AvaTrade WebTrader), DupliTrade, ZuluTrade, and the complete MetaTrader suite.

Charting: The WebTrader platform from AvaTrade offers 90 indicators, 13 drawing tools, 10 time frames, and three chart formats for its charts.

AvaTrade's proprietary WebTrader trading platform includes a well-designed, snappy interface. In addition, Trading Central's trading tools are immediately incorporated into the site. Although warnings are exclusive to the mobile version, AvaProtect is available on both devices.

Copy trading: AvaTrade's consistent expansion and improvement of its copy trading product has enabled it to compete with market leaders. AvaTrade provides ZuluTrade, DupliTrade, and MetaTrader's native Signals market. AvaTrade has launched AvaSocial in the United Kingdom as part of its relationship with Pelican Exchange.

AvaOptions: For options traders who deposit at least $1,000, AvaTrade offers AvaOptions, its desktop and mobile FX options platform.

Research

AvaTrade publishes daily video and written research content and provides access to Trading Central research modules. While AvaTrade has improved in this area, its research offering cannot compete with that of the leading FX brokers.

Research summary: In addition to AvaSocial, ZuluTrade, and DupliTrade for copy trading, Trading Central is the focus of AvaTrade's research offering. A variety of Trading Central-powered services are directly incorporated into the AvaTrade web platform.

AvaTrade publishes daily market research articles on its blog, in addition to daily market video updates on its Vimeo and YouTube feeds.

Education

AvaTrade offers an extensive selection of educational content from its in-house personnel, its SharpTrader brand, and third-party providers such as Trading Central. AvaTrade won Best-in-Class in our 2022 evaluation, placing second in the Education category.

Learning facility: The website of AvaTrade contains 103 thorough articles covering beginner and advanced themes. AvaTrade provides in-depth and experience-level-specific education. These courses have both video and written content, as well as integrated progress monitoring and quizzes.

The 48 educational films on AvaTrade cover a wide range of topics, including specialist ones such as Donchian Channels (what they are and how traders can use them). AvaTrade uploads and archives video webinars to its YouTube and Vimeo channels, enhancing its offering.

The WebTrader and AvaTraderGo web and mobile platforms would benefit from an expansion of integrated video material and platform instructions notwithstanding.

Commissions and fees

AvaTrade's spreads are close to the industry average at just under one pip (0.9 pips) but slightly higher than the spreads offered on entry-level accounts on rival platforms.

Commercial traders: Spreads on AvaTrade's Professional account are competitive at 0.6 pips and comparable to other platforms if one qualifies as a professional trader.

$100 is the minimum initial deposit

AvaTrade User Experience

AvaTrade's customer service and inclusiveness contribute to a favorable user experience, and reviews of the broker tend to echo this sentiment. Support is accessible via email, WhatsApp, and telephone. The AvaTrade website contains dozens of phone lines from throughout the world.

Language-wise, AvaTrade is fairly inclusive. The broker provides support in a variety of languages.

Pros

AvaTrade was founded in 2006 and is regulated in three tier-1 and three tier-2 jurisdictions, making it a low-risk broker for trading CFDs and forex.

In addition to MetaTrader, AvaTrade provides its proprietary platforms AvaTrade WebTrader and AvaTradeGO, which include novel features like AvaProtect.

The AvaOptions app, powered by Sentry Derivatives, offers AvaTrade clients an exceptional mobile trading platform for forex options.

AvaTrade provides 44 FX options and more than 1,200 CFDs.

AvaTrade offers AvaSocial in addition to ZuluTrade and DupliTrade for social copy trading and placed first in its category in 2022.

AvaTrade has been ranked as the Best in Class for Professional traders in 2022.

Cons

Retail pricing is in line with the industry average but lags below market leaders.

The desktop platform of AvaOptions is slow to load and has an old appearance that does not match the mobile site's slick responsive design.

At AvaTrade, at least 351 out of 1,260 possible symbols are on hold for both the MetaTrader and WebTrader platforms.

Research is restricted to Trading Central modules and a maximum of two articles and videos each day.

FAQs

How long do withdrawals from AvaTrade take?

AvaTrade withdrawals take one to two business days, which is comparable to the majority of forex brokers. The withdrawal period can also vary based on the withdrawal method used. Even though people may have been verified at account establishment, their broker may seek updated evidence of identification and proof of residence in order to fulfill their request if a significant amount of time has passed.

What is AvaTrade's minimum deposit requirement?

Depending on the denomination of the account balance, the minimum deposit at AvaTrade is normally 100 units of currency. For example, the minimum deposit for a USD account is $100, regardless of the funding method (wire transfer or credit card). AvaTrade recommends beginning with between one and two thousand of one's choice base currency, with the EUR, GBP, and AUD all provided as alternatives for traders seeking a comprehensive experience across all of its products.

Whom Is AvaTrade Recommended For?

AvaTrade is excellent for any trader, regardless of whether it is their first day trading or their thousandth. This broker offers a plethora of instructional materials and guidance to help beginners gain a foothold in the market for rookie traders. AvaTrade is extensive and advanced enough to keep experienced traders interested, so they will also find it useful.

Is AvaTrade a reliable and trustworthy broker?

AvaTrade is a reliable and secure broker that is regulated by top-tier nations. This online brokerage service provides a vast selection of CFDs covering numerous financial assets. Included here are equities, bonds, and ETFs. AvaTrade impressed us with their mobile trading app, copy trading, pricing, and education.

Does AvaTrade charge a fee for inactivity?

AvaTrade requires only $100 to create an account and does not provide volume discounts or guaranteed stop losses. They assess a $50 inactivity fee after three months and a $100 administrative cost after one year of account inactivity.

Final thoughts

AvaTrade excelled in the categories of trading platform options and educational information for novices, where it earned the title of Best in Class. Its breadth of tradable markets has nearly doubled year-over-year, and its spreads for EU Professional traders are fairly competitive.