Our Avatrade Account Types Revealed:
- ✔️AvaTrade Overview
- ✔️AvaTrade Account Types
- ✔️AvaTrade Account Features
- AvaTrade Demo Account
- AvaTrade Islamic Account
- AvaTrade Pros and Cons
- AVATRADE AT A GLANCE
AvaTrade is a multi-regulated broker that was founded in 2006. The broker operates according to strong core values that involve integrity as well as continuous innovation, surrounding a customer-centred approach where all levels of traders are welcome to register a trading account and to experience the financial markets in a secure environment.
AvaTrade offers over 1,250 financial instruments that can be traded through a choice of trading platforms, including:
- MetaTrader 4
- MetaTrader 5
AvaTrade offers transparent trading fee schedules and a wide range of different educational sources, research materials and tools, and advanced trading tools that provide traders with a competitive edge in their trading.
AvaTrade has several strategic partnerships with more than 70,000 forex affiliates that are spread across 150 global locations. AvaTrade is one of the most popular forex brokers and online trading providers that has won several industry awards in the past 15 years that it has been in operation.
AvaTrade caters for traders of all experience levels and provides Muslim traders with the option of converting either their Retail account to an Islamic account that provides them with a wide range of benefits and trading advantages, without worrying about interests.
AvaTrade Account Types
AvaTrade only provides a single retail trading account that can be upgraded to a Professional Account or converted into an Islamic Account. The Standard Retail account offers traders access to global financial markets, over 1,250 financial instruments and some of the best advantages and features.
AvaTrade Account Features
The Standard Retail Account is suited to all types of traders and offers the following features:
- Minimum deposit of $100, or equivalent in base account currencies.
- Leverage up to 1:400 on Forex Majors.
- Access to more than 1,250 financial instruments spread across several asset classes.
- Access to all trading platforms.
- Commission-free trading because the broker fees are included in the spread.
- Fixed EUR/USD spreads that start from 0.9 pips.
- Margin starting from 0.25% on leverage up to 1:400.
- 24/5 prompt and helpful customer support available through several communication channels in different languages.
- Access to educational materials and advanced trading tools.
To use the Professional Account that AvaTrade offers, traders must first open a retail account with AvaTrade. After traders have successfully registered for their account and it has been approved, they can check their eligibility in becoming a professional.
To be considered eligible for Professional Status and to qualify for a Professional Account, traders must fulfil at least two of the following criteria:
- Traders must have had trading activity for a consecutive 12-month period consisting of performing transactions of significant size on an appropriate market. Traders must have an average trading frequency of 10 trades per quarter during the latest four quarters in leveraged CFDs, Forex, and/or spread betting.
- Traders must possess relevant experience in the financial services sector for at least a year.
- Traders must have an instrument portfolio to the value of €500,000, or equivalent in other currencies. This portfolio must include cash-saving as well as financial instruments.
Traders must note that the Professional Account applies to several countries including Austria, Belgium, the United Kingdom, Greece, Spain, Hungary, Poland, Cyprus, and several other regions indicated on the official AvaTrade website.
AvaTrade Demo Account
AvaTrade offers all traders the option of registering a demo account that can be used as:
- A practice account that can be used by beginners who are new to trading and who need to build and improve their trading skills and experience.
- Advanced traders who want to develop and test their trading strategies in a safe, risk-free trading environment where their funds are not at risk.
- Anyone who wants to explore AvaTrade’s trading platforms and/or trading conditions.
AvaTrade Islamic Account
The purpose of an Islamic Account is that it caters specifically for Muslim traders who follow Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.
Overnight fees are charged should traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should they hold positions open for longer.
AvaTrade offers Muslim traders who follow the Sharia law the option of converting their Retail Standard Account to that of an Islamic Account. When trading with AvaTrade, Muslim traders have access to the following:
- Halal Gold and Silver Trading
- Halal and Oil Trading on the MetaTrader 4 trading platform
- Halal Indices Trading
- Islamic Forex Trading
AVATRADE AT A GLANCE
|Regulating Authorities||CBI, BVI FSC, ASIC, FSCA, FSA, FFAJ, ADGM FRSA, ISA, CySEC, IIROC, JFSA|
|Countries not accepted for trade||United States|
|Islamic Account (Swap Free)||Yes|
|OS Compatibility||Linux, Windows, macOS, Android, iOS, different web browsers|
|Languages supported on Website||Multi-lingual including English, Portuguese, Italian, French, Spanish, Polish, Indonesian, and more.|
|Customer Support Languages||Multilingual|
|Customer Service Hours||24/5|
You might also like: Avatrade Demo Account – Step by Step
You might also like: Avatrade Fees and Spreads
You might also like: Avatrade Islamic Account Overview
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You can trade any of the following instruments:
- Vanilla Options
Which platforms are supported by AvaTrade?
AvaTrade offers the use of the following trading platforms:
- MetaTrader 4
- MetaTrader 5
Does AvaTrade offer leverage?
Yes, AvaTrade offers leverage up to a maximum of 1:400. Leverage will depend on the trading account, financial instrument, and the region in which the trader resides.
What spreads can I expect with AvaTrade?
AvaTrade offers spreads that start from 0.9 pips EUR/USD.
Does AvaTrade charge commission?
No, AvaTrade offers commission-free trading because the broker’s fee is already included in the fixed spreads that are charged.
Are there additional charges on the Islamic account?
No, there are no additional charges indicated on the Islamic Account.
Is AvaTrade regulated and by whom?
Yes, AvaTrade is well-regulated by CBI, BVI FSC, ASIC, FSCA, FSA, FFAJ, ADGM FRSA, ISA, CySEC, IIROC, JFSA to offer trading services, products, and solutions to traders from around the world.
Is AvaTrade a recommended forex trading broker for experts and beginners?
Yes, AvaTrade is a recommended forex trading broker for all types of traders.
What is the overall rating out of 10 for AvaTrade?
What is the difference between a demo and a live trading account?
A demo account is a practice account that can be used by both beginner and professional traders. Beginners can use a demo account to practice their trading while more advanced traders can use it to test their trading strategies.
Alternatively, traders can also use a demo account to explore what a broker has to offer. Demo accounts are known for the risk-free environment that they offer along with the virtual funds which are used to trade.
Does AvaTrade offer a demo account?
Yes, AvaTrade offers a demo account.
How long is the demo account valid?
The demo account is valid for 21 days, after which it will expire.
Which live trading accounts does AvaTrade offer?
AvaTrade only offers a single Retail Account. This account can either be upgraded to a Professional Account or converted to an Islamic Account.
Does AvaTrade offer an Islamic Account?
Yes, AvaTrade offers the option for an Islamic Account.
What are the available deposit currencies for a live trading account?
DEPOSITS AND WITHDRAWALS
How do you make a deposit and withdraw money with AvaTrade?
Does AvaTrade charge withdrawal fees?
No, AvaTrade does not charge withdrawal fees when traders remove funds from their trading account. However, the trader’s payment provider/financial institution may charge processing fees that AvaTrade cannot be held liable for.
How long does it take to make a withdrawal?
This will depend on the payment method that the trader uses. Some payments can be instant while others may take a few days.
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