AvaTrade was established in 2006 under the name AvaFX. it’s a broker specializing in CFDs, but it also offers Forex trading through their different platforms. Regarding security, AvaTrade is regulated by the financial institution of eire , which may be a huge advantage over several other brokers that are regulated in Cyprus.
Opening your account with AvaTrade is comparatively quick. To open an AvaTrade account, click on “Create Account” from the official website of the broker. Then continue with the account opening form and supply your personal information. The platform will then ask you to verify your identity.
This procedure is a component of the “Know your customer” or KYC policy. you’ll already know that each one financial institutions are required to verify the identity of their customers. This protects the economic system
especially from concealment . Therefore, don’t be afraid to submit the requested documents as verification.
To verify your account, you’ll got to submit a scan of your ID card or passport, also as proof of residence like a utility bill or residence certificate. the info contained in your documents must correspond to your entries once you open an account. confirm you countercheck them before confirming. After verification, you’ll proceed to deposit funds on the AvaTrade platform.
Note that you simply won’t be ready to change the bottom currency of a trading account. We must therefore make the proper choice. However, you’ll add new accounts with different currencies and transfer funds between them. the bottom currencies available are EUR, USD, GBP, and AUD.
AvaTrade offers a welcome bonus to its customers. The bonus offer requires a minimum deposit which may be up to $ 1000. The bonus is within the sort of additional trading capital credited to your account. additionally to your initial deposit, this greatly increases your margin. If you would like a bonus, contact AvaTrade support to seek out out if you’re eligible.
However, bonuses are subject to conditions! These may vary, but remember that you simply will got to trade a particular volume on AvaTrade before you’ll withdraw the bonus. that’s why we recommend that you simply don’t take any bonus on AvaTrade.
Type of accounts
AvaTrade mainly offers 3 sorts of accounts: the quality account, the professional account and therefore the demo account.
The standard account is accessible to most traders. it’s an account where the leverage is restricted to 1:30. After the
tightening of the principles associated with leverage by the ecu Securities and Markets Authority (ESMA) in 2018, most CFD brokers now offer this sort of account.
The main advantage of the quality account is that the protection of your trading capital against negative balance. Indeed, if you trade on margin, it’s possible that your trading capital falls below zero. AvaTrade reduces the danger of exposure of its clients by offering this sort of account.
Traders on the Pro account can enjoy leverage of up to 1: 400. Access to the professional account, however, requires one condition: you want to be knowledgeable fund manager, and thus manage significant capital.
The demo account to AvaTrade to check the various platforms of the broker. AvaTrade has proprietary platforms, so it might be knowing start with a demo to urge a thought of the various trading tools available. The demo account allows you to access an equivalent markets because the standard account. you’ll be ready to test your strategies in real time on AvaTrade.
Deposit and withdrawal
Rather limited deposit methods for European residents.
AvaTrade offers several deposit methods: bank transfer, payment by card, also as electronic transfers by PayPal, Neteller and Web Money wallets. However, deposits through these wallets aren’t available for European residents who got to be limited to wire transfer and card payment.
The minimum deposit for the bank transfer is 500 € if the euro is that the base currency of your account. If you decide for payment by card, the minimum deposit is merely € 100.
Card deposits are faster, your funds are going to be immediately available for trading after the transfer. Your first deposit may however be delayed by a couple of minutes for verification reasons. For a bank transfer, you’ll got to wait up to three working days before seeing your funds in your AvaTrade trading account.
Regarding withdrawals, you’ll always make an invitation by bank transfer by providing your bank details on the platform. However, with the opposite withdrawal methods, you can’t withdraw quite your initial deposit. If the withdrawal amount exceeds your initial deposit, the difference are going to be transferred to your checking account .
Suppose you create a deposit of $ 100 by MasterCard . After a couple of operations, you manage to double your capital then order