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AvaTrade – Forex Broker Review 2022

About AvaTrade

AvaTrade is an established, reputable forex broker. It is based in Dublin and has offices in Shanghai, Sydney, Milan, Tokyo, New York, Nigeria, Paris, and South Africa. It offers excellent trading conditions and a wide range of trading instruments. You can trade currencies and cryptocurrencies. You can also trade CFDs on stocks, indices, commodities, and bonds. Read on to find out more.

Key Benefits


AvaTrade has licenses from the Cyprus Securities and Exchange Commission, the Central Bank of Ireland, and Japan’s Financial Services Agency. It also has licenses from the Financial Futures Association (FFA), the Australian Securities and Investments Commission, and the South African Financial Services Board. As such, it is a reliable and trustworthy forex broker.

Trading Platforms

AvaTrade has many different trading platforms including MetaTrader4 and MetaTrader5.


MetaTrader4 (MT4) is a great trading platform for new forex traders. It has a simple interface that is easy to navigate. You can use it to trade all of the most popular and liquid trading instruments including forex, stocks, and indices. The MT4 trading platform has helpful charting tools, 4 order execution types, 30 technical indicators, and 23 analytical objects. You can use these trading tools to work on your market analysis and create your own trading strategies.


MetaTrader5 (MT5) is another great option for beginner traders in Nigeria. It has an easy-to-use interface and comes with lots of helpful trading tools. You access and trade all of your favourite markets including forex, shares, and crypto. It very easy to navigate. The MT5 trading platform also has many great features including 6 order execution types, 38 indicators, and 37 analytical objects. As such, it has slightly more functionality than MetaTrader4 and offers you more analysis tools.

Trading Instruments

AvaTrade offers 1200+ trading instruments including forex pairs, stocks, indices, and cryptocurrencies.

  • Forex – AvaTrade offers 50+ currency pairs including all majors, minors, and many exotics. Traders can enjoy competitive spreads as low as 0.8 pips, and leverage up to 1:400
  • Cryptocurrency – They also offer 9 different cryptocurrencies including Ripple, Ethereum, Bitcoin and Bitcoin cash. Traders can enjoy leverage up to 1:20.
  • Indices, Bonds, Stocks, ETFs & Commodities – AvaTrade also offers many other CFD instruments. Traders can benefit from trading with competitive spreads and high leverage.

Forex Bonuses

AvaTrade offers a 20% welcome bonus. The maximum available bonus is $10,000. T&Cs apply.

Account Types

AvaTrade has a simple account offering. You can choose from a standard account and a demo account. The minimum deposit is $100 if you fund your account using a credit card and $500 if you deposit money in your account via wire transfer. In addition to these two accounts, Muslim traders are also able to choose a ‘swap free account’ that operate in accordance to the Islamic Sharia Principle of interest free trading.

AvaTrade also offers MAM accounts. Professional traders can use the MAM account to manage accounts for their clients. These types of accounts include the following features:

  • Multiple sub trading groups
  • All MT4 order types
  • Expert Advisors (EAs)
  • Multiple allocation parameters
  • Order placements for unlimited client accounts
  • Trade order placements from a master account

Deposit & Withdrawals

You can deposit money using Visa, Visa Electron, Visa Debit, Master Card, JCB, WebMoney, Skrill, Neteller and Wire Transfer. You can also withdraw money using these same payment methods.

Fund Safety

AvaTrade keeps its client funds separate from its own funds. This means that it cannot use client funds for operation purposes. You can therefore trust that your funds will be kept safe.


AvaTrade offers excellent educational support. It has a wide selection of free trading videos. These videos cover all the basic trading terminology including pips, margin, leverage, and spreads. They also teach you how to open an account, how to set up you trading platform, and how to manage your trades. You can use them to learn how to do both technical and fundamental analysis. You can also use them to learn about trading psychology and how to manage risk.

It also has a great selection of blog articles and trading guides. You can use them to improve your trading skills and learn how to use chart indicators. You can also use them to improve your knowledge of the markets and learn study new trading strategies.

Trading Tools

Economic Calendar

The AvaTrade global economic calendar provides information about the routine financial events that affect the financial markets. You can use the calendar to learn more about how economic data releases for things like GDP, CPI, and retail sales affect currency prices. You can also use it anticipate upcoming financial events and plan your trades in advance.

Trading Position Calculator

As a trader, knowing how to manage your risk is crucial. When trading in volatile markets, it is important to consider the potential profits, losses and costs to trading. AvaTrade’s Trading Calculator helps you understand all of these risks of your next trade before you make it.

Extra Trading Services


AvaTrade offers a proprietary trading app called AvaGo. You can use it to trade from your mobile. You get full access to the markets and to a great set of analytical tools.


AvaTrade also has a copy trading app called AvaSocial. It lets clients replicate the trades of successful investors. You can use it to manually trade on market signals or to follow a fully automated service. You can copy trades on the forex, stock, crypto and commodities markets.

AvaSocial is also an excellent social trading platform. You can use it to find mentors and connect with other traders via community channels. You can also use it to ask other traders questions about their strategies. fThis makes it a great tool for new forex traders in Nigeria.


AvaTrade offers a unique tool known as AvaProtect. This unique risk management feature allows you to protect a specific trade against losses of up to one million dollars over a chosen time frame. All of this is in exchange for a hedging cost paid at the time of purchase.

Industry Awards

AvaTrade has won many industry awards. For example, they have won best retail broker, best fixed spread brokers, best mobile trading platform, and best forex education. They have also won awards for best customer support, best alert system, and best financial derivative trading provider.

AvaTrade Customer Support

The customer service team is available 24/5. You can contact them via e-mail, phone, and live chats. The team speaks English, German, French, Hungarian, Arabic, and Spanish. They also have staff that speak Russian, Portuguese, Japanese, and Swedish.


AvaTrade is a reliable, award-winning Forex broker. They have a simple but competitive account offering. They also have a good choice of platforms and resources for education. AvaTrade caters well for both novice and experienced traders and traders should consider seeking services from this broker.

Ready to sign up? Register for an online trading account with AvaTrade here.