The AvaTrade forex account is a convenient and low-cost way to trade the forex market. This forex broker offers competitive spreads and high leverage on a variety of asset classes, including stocks, indices, commodities, and ETFs. The company’s customer service representatives are available 24 hours a day, seven days a week by phone, email, or live chat. The company is headquartered in Dublin, Ireland, and offers services to traders in over 150 countries. However, its services are not available in the United States.
AvaTrade offers several trading platforms, including demo and real accounts. To start trading with this broker, click the “Register Now” link on the website’s main page. Choose an individual or corporate account, and enter your name, email address, and other personal details. Once your account is verified, you will be asked to confirm your trading experience and knowledge. In addition, you’ll need to provide the source of your account’s funding.
AvaTrade allows clients to fund their accounts using Skrill, Webmoney, Neteller, or e-wallets. Withdrawals are processed within one to two business days, depending on your payment method. The company also offers a swap-free account for Muslim traders, which operates according to the Islamic Sharia principle of interest-free trading. Additionally, AvaTrade’s negative balance protection feature allows traders to access demo funds before trading live. If you encounter a negative balance, AvaTrade will refund the difference in the amount you withdraw.
AvaTrade also offers a Halal account for those with religious beliefs. Halal accounts are regulated according to Sharia Law, and requests for this type of account are typically processed within one to two business days. This account type offers access to all assets offered by AvaTrade. Halal accounts also support trades with physical gold stores, with no swaps.
AvaTrade is an EU-based company. Its EU-based entity, the Central Bank of Ireland, is regulated by the FCA. It participates in an investor protection scheme that provides up to 20,000 EUR in compensation for eligible traders. The company also offers negative balance protection and AvaProtect for losing trades. However, the broker does not offer two-factor authentication, which is a common requirement for European forex brokers.
AvaTrade’s fees are competitive compared to other Forex brokers. It does not charge a withdrawal or deposit fee. However, it does charge an account inactivity fee of 50 USD per quarter or 100 USD if your account is inactive for 12 consecutive months. The account opening process is also simple and hassle-free. All Indian traders can open an account with AvaTrade, but the account must be funded with a 100 USD minimum deposit.
The AvaTrade forex account has a relatively limited product range, offering only forex and a handful of CFDs and cryptos. The fees charged by AvaTrade vary by product, with EURUSD ranging from 0.9 to 0.6 pips. The spreads are higher for stocks, while they are lower for ETFs. In addition to the spread, AvaTrade also charges a small interest on open positions at 10 PM GMT. These fees can add up quickly.