AvaTrade Broker Review

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AvaTrade Broker Review



In our review, we found that Avatrade has low trading fees, a wide range of trading instruments, and a choice of four different trading platforms. Avatrade offers some of the best trading tools in the industry, alongside a world-class selection of educational and market analysis materials. As one of the best all-around Forex brokers, Avatrade will be an attractive choice for most traders.To get more news about avatrade demo account, you can visit wikifx.com official website.

Avatrade is also popular for its award-winning mobile app, AvatradeGO, which has great risk management tools and a direct connection to AvaSocial, AvaTrade’s popular social trading system.
One issue South African traders may have with Avatrade is that even though it is regulated by the South African FSCA and has a local South African support team, South Africans will be onboarded through Avatrade’s British Virgin Islands-based entity. This means that South African traders have no recourse in the event of a dispute with the company.
Is Avatrade Safe?
Although Avatrade holds a licence from the South African FSCA, South African traders are onboarded through Avatrade’s British Virgin Islands (BVI) entity. This means that South Africans have little recourse in the case of a dispute with Avatrade.

No more FSCA protection: Until recently, Avatrade clients were still protected by FSCA regulation. But now Avatrade is on-boarding all new South African clients through its BVI-based entity. This means that South Africans will not benefit from local regulation and that their money will not be segregated at South African banks. See below for Avatrade’s sign-up notice:.
Safety Features: Although the lack of FSCA oversight may be off-putting for some South African traders, we still consider Avatrade a safe broker to trade with. Firstly, Avatrade holds licences from a large number of top-tier regulators from around the world ensuring that it treats its clients fairly. Secondly, it provides all clients with negative balance protection which means that traders cannot lose more than their initial deposit. Finally, it has received a wealth of industry recognition, further supporting its credentials as a safe broker.

Avatrade’s Trading Instruments
While Avatrade’s range of tradable assets is around the industry average, it also offers specialty instruments such as vanilla options that are rarely found at other brokers.

Specialty Instruments: Avatrade offers a number of asset classes that aren’t found at other brokers. These include 55 vanilla options which are traded exclusively on Avatrade’s AvaOptions platform, two bonds, 59 ETFs, and 13 cryptocurrencies, providing traders with excellent asset diversification.
Accounts and Trading Fees
Avatrade offers one commission-free trading account and both its initial and ongoing costs are around the industry average.

Trading Fees: Avatrade’s account requires a minimum deposit of 100 USD, making it accessible to most traders. No commissions are charged for Forex trading and traders will find spreads of 0.9 pips (EUR/USD), which is around the industry average.
Standard Account: In order to open an account, traders will have to make a minimum deposit of 1500 ZAR (100 USD). The account is available on MT4, MT5, and Avatrade’s proprietary platform. We were pleased to see that spreads on the platform are 0.9 pips on the EUR/USD, as advertised on Avatrade’s website and there are no commissions for Forex trading:

AvaTrade’s South African clients also receive perks with higher deposit amounts. For example, from 1,000 USD and upward, traders receive a 20% on-deposit bonus and one-on-one trading sessions with a personal account manager. Clients who deposit 2,000 USD or more will gain free access to Duplitrade, a popular third-party copy trading platform.