AvaTrade Review
Overall, AvaTrade is regulated by 9 regulations across 5 continents thus it can be seen as a safe and trustworthy broker. AvaTrade offers 0% commission and has a high trust rating score of 94% out of 100. AvaTrade is currently not regulated by the CBN.
- Louis Schoeman
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.9/5
Min Deposit
USD 100 / 41450 NGN
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
AvaTrade Review – 21 key points quick overview:
AvaTrade Overview
👉 According to research in Nigeria, AvaTrade was launched in 2006 as a worldwide CFD and FX broker. It is overseen by several financial institutions, including the Irish Central Bank. The AVA Group of enterprises includes AvaTrade, a renowned worldwide forex broker.
👉 While AvaTrade is not regulated or authorized by the Capital Markets Authority (CMA) in Nigeria and the broker does not have local offices in Lagos, AvaTrade is a trusted and highly recommended broker for Nigerian traders who want to participate in global financial markets.
👉 This AvaTrade review will provide traders with the details that they need to consider whether the broker is suited towards their unique trading objectives and needs.
Distribution of Traders
👉 The distribution of traders for AvaTrade is as follows:
➡️️ South Africa – 11.64%
➡️️ Italy – 5.8%
➡️️ United Arab Emirates – 5.2%
➡️️ Australia – 4.7%
➡️️ United Kingdom – 4.05%
Popularity among traders who choose AvaTrade
🥇 AvaTrade does not capture a significant market share in AvaTrade, but the broker not only accepts Nigeria traders but accommodates all traders despite their trading styles and objectives, placing this broker in the Top 20 forex and CFD brokers for Nigerian traders.
AvaTrade at Glance:
| 🏛️ Headquartered | Dublin, Ireland |
| 🏛️ Nigerian Based Office | No |
| 👍 Accepts Nigerian Traders? | Yes |
| 📅 Year Founded | 2006 |
| 📱 Nigerian Office Contact Number | None |
| ⚖️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA |
| 🔎 License Number | Ireland (C53877) Australia (406684) South Africa (45984) Japan (JFSA 1662, FFAJ 1574) Abu Dhabi (190018) Cyprus (247/17) Israel (514666577) |
| ⚖️ CBN Regulation | None |
| ✴️ Regional Restrictions | Iran, Belgium, and the United States |
| ☪️ Islamic Account | Yes |
| 📈 Demo Account | Yes |
| 📈 Demo Account Description | Free Demo Accounts with $100,000. No limitations on the number of demo accounts. 21 days limitation |
| 📈 Retail Investor Accounts | 1 (Retail and Professional Option) |
| 📊 PAMM Accounts | None |
| 🚀 Offers a Nigerian Account? | No |
| 💻 Dedicated Nigerian Account Manager? | No |
| 📈 Leverage (Up to) | 1:400, EU – 1:30 and 1:400 (Professional Accounts) |
| 📈 Leverage Restrictions for Nigeria? | No |
| 💳 Minimum Deposit (₦) | 41,500 Nigerian Naira |
| 📊 Average deposit/withdraw processing time | Depends on the method used. – CC and e-payments is immediate. Bank wire can take up to 7 business days depending on the banking institution |
| 💳 Nigerian Naira Deposits Allowed? | No |
| 💰 Active Nigerian Trader Stats | 1.3 million |
| 👥 Active Nigerian-based AvaTrade customers | Unknown |
| 💰 Nigeria Daily Forex Turnover | $1.25 million+ |
| 💳 Deposit and Withdrawal Options | Wire Transfer, Electronic Payment Gateways, Credit Cards, Debit Cards |
| 📈 Related lot sizes | Standard, Mini and Micro lots size |
| 💰 Segregated Accounts with Nigerian Banks? | No |
| 💰 Account Types | Real Account, Demo Account, Islamic Account. Options Account |
| 💻 Trading Platforms | AvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade |
| 💰 Tradable Assets | Forex, Cryptocurrencies, Commodities, Treasuries, Bonds, Indices, Stocks, ETFs, Options, CFDs, Precious Metals |
| 🌐 Offers USD/NGN currency pair? | No |
| 🌐 USD/NGN Average Spread | N/A |
| 🚀 Service description | CFD Regulated broker with +1000 financial instruments and multiple trading platforms, operating since 2006. |
| ✴️ Instruments offered | 800+ |
| ✴️ Instruments | Metals, Commodities, Stocks, FX Options, Oil, ETFs, Options, Crypto currencies, CFDs, Indexes, Shares, Spread Betting, Indices, Forex, Bonds |
| ✴️ Total offered per instrument | CFD – Agricultural =7 CFD – Crypto = 20 CFD – EFTs = 60 CFD – Energies = 5 CFD – Indices = 32 CFD – Metals = 7 CFD – Shares = 623 Forex = 55 GRAND Total = 809 |
| 💰 Bonus | 20% welcome bonus accordengly to regulation |
| 👥 Sponsorship | Currently with Bolt |
| 👥 Partnership | Trading Central |
| 📈 Offers Nigerian Stocks and CFDs | Yes |
| 🔎 Banned countries | US, North Korea, New Zealand, Iran, Belgium |
| 👨💼 Languages supported on Website | English, Chinese (Simplified), Chinese (Traditional), Turkish, Thai, Slovakian, Russian, Portuguese, Polish, German, Hungarian, French, and several others |
| 👥 Customer Support Languages | Multilingual |
| 👥 Customer Service Hours | 24/5 |
| 👥 Nigerian-based customer support? | No |
| 💰 Bonuses and Promotions for Nigerians | Yes |
| ✴️ Education for Nigerian beginners | Yes |
| 📊 Proprietary trading software | Yes |
| 💰 Most Successful Nigerian Trader | Uche Paragon ($20 million net worth) |
| ✔️ Is AvaTrade a safe broker for Nigerians? | Yes |
| ✔️ Rating for AvaTrade Nigeria | 9/10 |
| ✔️ Trust score for AvaTrade Nigeria | 96% |
Regulation and Safety of Funds
AvaTrade does not have CMA regulation or authorization in Nigeria, but the broker is well-regulated by the following prominent regulatory authorities around the world:
➡️ AVA Trade EU, Limited is regulated by the Central Bank of Ireland under license number C53877.
➡️ Ava Trade Markets Limited is regulated by the BVI Financial Services Commission.
➡️ Ava Capital Markets Australia Pty Ltd. is regulated by the Australian Securities and Investments Commission (ASIC) under 406684.
➡️ Ava Capital Markets Pty is regulated by the Financial Sector Conduct Authority (FSCA) under license 45984. With this regulation, AvaTrade is authorized to provide financial products and services to Nigerian traders.
➡️ Ava Trade Japan K.K. is regulated and licensed by the Japan Financial Services Agency under license 1662, and the Financial Futures Association of Japan under license 1574.
➡️ Ava Trade Middle East Ltd is regulated by the Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA) under license 190018
➡️ DT Direct Investment Hub Ltd. is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license 347/17.
➡️ ATrade Ltd is regulated by the Israel Securities Authority (514666577).
AvaTrade is one of the most reputable CFD and FX brokers in the world because of its stringent regulation and authorization, with Nigerian customer money maintained in segregated accounts with top-tier banks in each country.
AvaTrade is a member of the Investor Compensation Company Limited in Europe, providing extra money protection to European investors.
Not only is AvaTrade registered and regulated, but the broker is also devoted to offering a secure, fair, and transparent trading environment, guaranteeing that all customers are treated fairly and enjoy the best trading conditions available.
Overall Rating
- 4.9/5
Min Deposit
USD 100 / 41450 NGN
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Account Types and Features
AvaTrade gives it’s Nigeria retail traders just one basic account, with many alternatives and the ability to register for a professional account for those who qualify as professionals. The kind of account that traders may open is determined by their jurisdiction and the regulatory restrictions in that area.
Nigerian traders have the following retail investor account choices, depending on the area in which AvaTrade operates:
➡️ Europe (Ava Trade EU Ltd) – Retail, Professional, Options, and Spread Betting account.
➡️ Europe (DT Direct Investment Hub Ltd) – Retail, Professional, and Options account.
➡️ British Virgin Islands – Standard, Options
➡️ Australia – Standard, Options
➡️ South Africa and Nigeria – Standard, Options
➡️ Japan – Retail, Options
➡️ Abu Dhabi – Retail, Professional, Options
➡️ Israel – Standard, Options
Live Trading Accounts
Retail Investor Account
AvaTrade provides a Standard Retail Account that is suitable for most Nigerian traders and intermediate investors who want exposure to global markets. This account includes the following distinctive features:
| ✔️ Pros | ❌ Cons |
| Well-regulated and large forex broker with regulations in several regions through reputable market regulators including the Financial Conduct Authority | High minimum deposit requirement when registering an account |
| Competitive trading conditions are offered | There is an inactivity fee charged |
| IG Group caters for all types of traders despite their trading experience | |
| Longstanding reputation in the trading industry | |
| Client funds are kept in segregated accounts and investor protection is offered | |
| There are several retail investor accounts to choose from and several powerful trading platforms |
Professional Account
A retail account with AvaTrade is required before using the Professional Account. Traders who want to pursue a career in trading must first open an account and get their application accepted.
Only traders who fulfill two of the three criteria are eligible for Professional Status and a subsequent Professional Account:
➡️ At least twelve months of continuous trading activity in a relevant financial market. There has been an average of 10 CFD, FX, or spread betting deals every quarter during the last four quarters.
➡️ Financial services sector experience of one year or more is a requirement for traders.
➡️ The trader must have a €500,000 (or equivalent in any other currency) investment portfolio that includes both cash savings and financial instruments.
Options Trading
AvaTrade allows Nigerian options traders to either purchase or sell a specified amount of an asset at an agreed-upon price and time, known as options trading.
When trading options, retail Nigerian traders have complete control over the instrument and the amount of money they invest. An additional benefit of trading this instrument is that Nigerian traders may choose their own price and trading time.
A single day of trading, a week, a month, or even a year might be spent trading options, subject to the trader’s unique trading strategy and trading objectives. Both Call options, as well as Put options, are available at AvaTrade.
The ability to acquire an instrument at a certain price is provided by call options to the buyer. These options are traded by investors who think the market is in a positive trend.
Spread Betting (UK Clients Only)
More than 200 financial assets are available for spread betting with AvaTrade, including FX pairings, commodities, stocks, bonds, and Exchange-Traded Funds (ETFs).
Account currency for AvaTrade traders is the British Pound Sterling (GBP), with a minimum transaction size of 0.10 lots.
AvaTrade’s spread betting account holders may only utilize MetaTrader 4 while trading on a retail or professional account, regardless of whether they have access to other trading platforms. AvaTrade offers tax-free spread betting in addition to a wide choice of markets, which is another reason why many UK traders choose AvaTrade to carry out spread betting in global financial markets.
Demo Account
A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital.
There is a certain degree of risk involved when trading financial markets and AvaTrade offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.
Islamic Account
Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.
This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.
Nigerian Muslim traders have the option of registering Islamic accounts at AvaTrade, which provides the same trading conditions but is free from any additional fees or interest. Traders may also access the following features with an AvaTrade Islamic account:
➡️ Halal Gold and Silver Trading
➡️ Halal Oil Trading
➡️ Halal Indices Trading
➡️ Islamic Forex Trading
Overall Rating
- 4.9/5
Min Deposit
USD 100 / 41450 NGN
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Account Registration
AvaTrade’s account registration process is straightforward. Traders may simply go to the AvaTrade website and choose the option to sign up. They must fill out an online form, confirm their email address and provide supporting documentation before their account can be verified.
Step 1 – Click on “Register Now”
➡️ Visit the official AvaTrade website and click on the “Register Now” tab located at the top right of the website.
Step 2 – Click on “Create My Account”
➡️ To get started you will have to fill in your email address and create a password for your account.
Step 3 – Fill Out Personal Details
➡️ Fill in all your personal information such as first and last name, date of birth, country, address, and phone number.
Step 4 – Fill Out Personal Details
➡️ Fill in all your personal information such as first and last name, date of birth, country, address, and phone number.
Step 5 – Your Account Registration Has Been Completed
➡️ Your account has now been completed, you can deposit funds into your account by pressing the buttons below.
AvaTrade Vs Exness Vs JustMarkets – Broker Comparison
| HFM | AvaTrade | Exness | |
| ⚖️ Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA |
| 📱 Trading Platform | MetaTrader 4 MetaTrader 5 | AvaTradeGO AvaOptions AvaSocial MetaTrader 4 MetaTrader 5 DupliTrade ZuluTrade | MetaTrader 4 MetaTrader 5 |
| 💰 Withdrawal Fee | No | No | No |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 2,000 NGN | 41,500 NGN | 4,100 NGN |
| 📈 Leverage | 1:1000 | 1:400 | Unlimited |
| 📊 Spread | 0.0 pips | Fixed, from 0.9 pips | Variable, from 0.0 pips |
| 💰 Commissions | $3 to $4 | None | From $0.1 per side, per lot |
| ✴️ Margin Call/Stop-Out | 40%/10%, 50%/20% | 25%/10% | 60%/0% |
| ✴️ Order Execution | Market | Instant | Market |
| 💳 No-Deposit Bonus | No | No | No |
| 📊 Cent Accounts | No | No | Yes |
| 📈 Account Types | HFM Nigeria Micro Account HFM Nigeria Premium Account HFM Nigeria HFcopy Account HFM Nigeria Zero Spread Account HFM Nigeria Auto Account | Standard Live Account Professional Account Option | Standard Account Standard Cent Account Raw Spread Account Zero Account Pro Account |
| ⚖️ CBN Regulation | No | No | No |
| 💳 NGN Deposits | No | No | Yes |
| 📊 Nigerian Naira Account | No | No | No |
| 👥 Customer Service Hours | 24/5 | 24/5 | 24/7 |
| 📊 Retail Investor Accounts | 5 | 1 | 5 |
| ☪️ Islamic Account | Yes | Yes | Yes |
Trading Platforms
Desktop Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ ZuluTrade (through MT4)
MT4 has been around since 2002 and this popular, innovative platform has become the industry standard in online trading across markets. Easily configurable, it is both user-friendly for newbies, and extensive, for seasoned market professionals.
MT5 is an innovative, robust, multi-functional trading platform with auto trading algorithms, technical tools, and copy trading. MetaTrader 5 is a more sophisticated version of MetaTrader 5 that supports trading in a larger range of asset classes. Rich in features, it boasts innovative tools and delivers outstanding performance.
ZuluTrade is an innovative auto-trading tool that integrates directly with the AvaTrade website and MetaTrader 4 brand through an API. ZuluTrade’s trading platform is simple to use and features an intuitive design and structure that is accessible to traders of all levels.
WebTrader Platforms
➡️ AvaTrade
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ DupliTrade
The AvaTrade WebTrader is an ideal platform for those who are interested in trading without putting a lot of time and effort into extensive market research. It does not need to be installed and can be accessed from any browser on any machine.
Automated trading strategies may be created, modified, and used using MetaTrader 4. Every piece of software that may be used for automated or algorithmic trading can be found in the IDE of MQL4 (integrated development environment).
For the creation of financial software, MetaTrader 5 supports MQL5, a more sophisticated version of the MQL5 standard. MT5 gives everything a professional trader needs to thrive in today’s volatile markets. Nonetheless, the identical architecture provides a seamless transition from the market benchmark, MetaTrader 4, to the trading platform.
When Nigeria traders utilize DupliTrade, they can automatically replicate the trading strategies of professional traders right into the AvaTrade trading account. When traders join DupliTrade, they will be given access to a wide range of proven trading methods developed by experienced traders.
Trading App
➡️ AvaTradeGO
➡️ AvaOptions
➡️ MetaTrader 4 and 5
➡️ AvaSocial
Investing has never been easier with AvaTradeGO, an app that guides Nigerian traders through the process of initiating trades gives feedback on their overall progress, and helps whenever traders need it.
Using the retail or professional AvaTrade account credentials, Nigerian traders can manage numerous MT4 accounts and move between demo, genuine, and competitive spreads accounts. Both Android and iOS mobile devices are supported by the AvaTrade MetaTrader 5 trading platform.
MetaTrader 5 from MetaQuotes Software Corp. may be downloaded through the Apple App Store or Google Play Store. This provides traders unlimited access to a range of markets and trading options from the palm of their hand.
The AvaOptions trading app provides Nigerian traders access to over 40 currency pairs in addition to a mixture of call and put options which are consolidated into a single account, helping Nigerians create an optimal portfolio.
AvaOptions offers Nigerian traders full control over their portfolio, allowing them to balance risk and match their market view.
At the press of one button, new traders get access to the markets by using AvaSocial’s trading app. Traders can easily follow more experienced traders who are willing to share their knowledge and cut the overall learning curve. A clear perspective of the market without the need to do regular study might save time for experienced traders.
Range of Markets
AvaTrade offers the following range of markets:
➡️ Forex
➡️ Stocks
➡️ Commodities
➡️ Cryptocurrencies
➡️ Treasuries
➡️ Bonds
➡️ Indices
➡️ Exchange-Traded Funds (ETFs)
➡️ Options
Broker Comparison for Range of Markets
| Exness | CM Trading | Tickmill | |
| ⚖️ Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA | FSA, FSCA | Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA |
| 📱 Trading Platform | MetaTrader 4 MetaTrader 5 | MetaTrader 4 CM Trading Web CopyKat Expert Advisors Trading Apps | MetaTrader 4 MetaTrader 5 |
| 💰 Withdrawal Fee | No | Yes | No |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 4,100 NGN | 4,1700 NGN | 4,1700 NGN |
| 📈 Leverage | Unlimited | 1:200 | 1:200 |
| 📊 Spread | Variable, from 0.0 pips | Fixed, from 0.9 pips | Fixed, from 0.0 pips |
| 💰 Commissions | From $0.1 per side, per lot | None | $1 per side per 100,000 traded |
| ✴️ Margin Call/Stop-Out | 60%/0% | From 20% | 100%/30% |
| ✴️ Order Execution | Market | Market | Market |
| 💳 No-Deposit Bonus | No | No | Yes |
| 📊 Cent Accounts | Yes | No | No |
| 📈 Account Types | Standard Account Standard Cent Account Raw Spread Account Zero Account Pro Account | Bronze Account Silver Account Gold Account Premium Account | Pro Account Classic Account VIP Account |
| ⚖️ CBN Regulation | No | No | No |
| 💳 NGN Deposits | Yes | Yes | No |
| 📊 Nigerian Naira Account | No | No | No |
| 👥 Customer Service Hours | 24/7 | 24/5 | 24/5 |
| 📊 Retail Investor Accounts | 5 | 4 | 3 |
| ☪️ Islamic Account | Yes | Yes | Yes |
Overall Rating
- 4.9/5
Min Deposit
USD 100 / 41450 NGN
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Trading and Non-Trading Fees
Spreads
AvaTrade is one of the world’s most prominent market maker brokers, offering fixed spreads. This implies that AvaTrade creates market liquidity for its retail traders, allowing them to execute their deals.
AvaTrade acts as a conduit between regular traders and the interbank market by purchasing big positions from a variety of liquidity sources and reselling them to traders. AvaTrade provides in-house order execution, ensuring that transactions are handled quickly and without fees.
Additionally, single price quotes are available, and AvaTrade deducts its service fee from the spread charged. AvaTrade’s average spread on EUR/USD, the most often traded currency pair in the foreign exchange market, is 0.9 pips.
Nigerian Traders might also anticipate the following spreads:
➡️ GBP/USD – 1.6 pips
➡️ USD/JPY – 1.1 pips
➡️ EUR – 2 pips
➡️ EUR/JPY – 1.8 pips
➡️ EUR/GBP – 1.5 pips
Overnight Fees, Rollovers, or Swaps
AvaTrade credits or debits these fees based on the amount of the position, the duration of the position, the financial instrument exchanged, and other considerations. Traders can calculate these fees as follows:
➡️ The position size x the amount of daily overnight interest = the daily overnight interest charged/paid.
The overnight interest rate for each asset is available on the official AvaTrade website and trading platform. Overnight interest rates on the EUR/USD are typical -0.0026% sell and -0.0067% purchase.
Other Fees
AvaTrade charges an inactivity fee of $50 if the trading account becomes dormant after three consecutive months. This amount is deducted from the account every month that the account remains inactive until the trading balance becomes zero.
However, if the trading account is inactive/dormant for 12 consecutive months, there is an administration fee of $100 that will be charged. In addition, currency conversion fees may apply if Nigerian traders deposit funds in KES, and this is converted to either one of the accepted base account currencies.
How to Deposit Funds with AvaTrade
AvaTrade users must first log into the trading platform, portal, or account before making a deposit. Next, traders can choose the desired deposit method by clicking on the ‘Deposit’ tab.
Nigeria traders are urged to double-check that they have chosen the correct trading account from the drop-down option before completing the deposit.
Step 1 – Click on “Deposit”
➡️ Click on the Deposit button at the top of your screen.
Step 2 – Click on “Deposit”
➡️ Select your deposit option, then select your payment option and transfer the funds into your AvaTrade account.
How to Withdraw Funds with AvaTrade
An AvaTrade trader’s trading account must first be validated and authorized as part of the Know Your Customer procedure before money may be withdrawn. During working hours and days, AvaTrade provides immediate withdrawals that may be completed in as little as two working days.
By logging into their trading account using their email and password, traders may withdraw cash. Investors may request an online withdrawal after successfully logging in to the trading platform’s withdrawal area.
Traders may submit the form and have it processed within 24 hours of it being completed. Due to anti-money laundering laws, traders who seek a withdrawal must use the same method they used to deposit cash.
Step 1 – Click On The Hamburger Menu
➡️ Click on the hamburger menu in the left top corner.
Step 2 – Click On Withdraw
➡️ Click on “Withdraw”. If you have funds in your account, you can withdraw it here.
AvaTrade Education and Research
AvaTrade offers the following Educational Materials:
➡️ Educational Videos
➡️ Trading guides
➡️ Trading Rules
➡️ Market Terms
➡️ Order Types
➡️ Trading Strategies
➡️ Trading Ideas
➡️ Blog
➡️ A demo account with virtual funds
➡️ Articles
AvaTrade offers Nigerian traders the following Research and Trading Tools:
➡️ Technical Analysis Indicators
➡️ Economic Indicators
➡️ Economic calendar
➡️ Trading Strategies
➡️ AvaProtect Risk Management
➡️ Trading Central
➡️ Trading Calculators
➡️ Earnings Releases
➡️ Fundamental Analysis
➡️ Technical Analysis
How To Minimize Risk While Trading?
1. Use Stop Losses
👉 A stop loss is a trading technique that takes you out of losing trades at a predetermined level in order to limit your losses. Utilize stop losses to ensure a 1:1 risk-reward ratio and above in all your trades in order to limit losses and maximize profits on each trade. For example, if you’re setting your stop loss at 50 pips below your entry point, set your take profit at least 50 pips above your entry point.
👉 A 1:2 risk-reward ratio and above will ensure that you remain profitable even if the majority of your trades are losing trades. Using a 1:2 risk-reward ratio means that you should place your stop loss at 100 pips if you have a profit target of 200 pips and so on.
👉 If you are a more aggressive trader, you can use a 1:3 risk-reward ratio, where you risk 100 pips for a profit target of 300 pips.
2. Use Proper Lot Sizes
👉 Trading using proper lot sizes is crucial to your success as a trader. That’s because the lot size determines the value of each point of the currency pair you are trading. A standard lot typically refers to 100,000 units of the base currency you are trading. Therefore, trading a standard lot of the EURUSD currency pair puts the value of each point at USD 100.
👉 The lot sizes you trade should be proportionate to the amount you are willing to risk on each trade, which is directly related to the size of your account and your risk appetite.
3. Control Your Losses
👉 You should only risk 2% or less of your trading account on each trade. This will ensure that you can survive any losing streak while minimizing the drawdown on your trading account.
👉 Remember: losses in forex trading are not linear. A 50% loss would require a 100% gain in order to recover your original trading account level.
4. Use Leverage Carefully
👉 Most forex brokers offer to trade with leverage, and with AvaTrade traders can enjoy up to 1:Unlimited leverage. While trading with leverage is one of the great advantages of trading forex, it can also increase the risk of losses if used incorrectly. Leverage works as a ratio, meaning that if you trade with USD 10 at a leverage of 1:50 your market investment will be USD 500. This means that, if your investment moves in a favourable direction, your profits would be 50x bigger than they would have been without leverage. However, this also means that your losses if the currency moves in an unfavourable direction would be 50x greater as well. Traders are therefore reminded to apply leverage with care.
5. Choose The Time Of Day That You Trade
👉 Most traders tend to ignore the impact of the time of day that they trade. However, traders who are active during periods of less volatility tend to be more profitable than traders who trade during periods of high volatility.
👉 The high volatility periods for different currency pairs vary, but can generally be summarized as the opening hours of the Asian sessions, the London/European sessions, and the New York/American sessions.
👉 Experienced traders who are trading European currency pairs, such as EURUSD and GBPUSD, typically trade during off hours from 7PM to 11AM GMT. However, this data applies to range of traders who trade following the existing trends but might differ for traders using other trading strategies, such as scalping.
6. Buy The Rumor, Sell The News
👉 Many traders like to stay abreast of news that affects the forex market, but this is very hard to do given that it is near-impossible to accurately predict what will happen at any given time across the globe. However, experienced traders typically keep abreast of economic releases from different countries, which generally have an impact on many currency pairs.
👉 In most cases, markets typically discount the news based on investors’ expectations, which means that by the time the news is released, the big moves in the affected currency pairs would have already taken place. Therefore, it is important to make trades related to major news events way before the actual news is released.
All About AvaTrades’ Rebate System
How AvaTrade cashback works?
👉 When we refer you to AvaTrade to open a new trading account or link an existing trading account under our referrer (when possible), the AvaTrade pays us a commission which is mostly paid back to you in the from of cashback.
How much AvaTrade cashback can I earn?
👉 AvaTrade cashback will depend much on your trading volume, the larger the volume the more cashback you will receive.
Overall Rating
- 4.9/5
Min Deposit
USD 100 / 41450 NGN
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Bonuses and Promotions
AvaTrade often provides a variety of incentives and promotions. AvaTrade now provides the following incentives:
➡️ Traders who open an account for the first time will get a bonus based on the amount of money they deposit. Traders who deposit $200 (or the currency equivalent in other permitted deposit currencies) will earn a bonus of $40. Traders can deposit up to $10,000 and receive a bonus of $2,000 on top of that. A dedicated account manager is needed for balances more than this.
➡️ The Refer a friend incentive allows traders the opportunity to earn between $50 and $250 when their referral creates a live account and makes an initial deposit of $500 up to $20,000 and more. The initial deposit made by a trader’s recommendation will decide how much they may earn.
AvaTrade Affiliate Program
More than 70,000 AvaTrade associates operate in over 150 countries across the globe. AvaTrade’s affiliate program offers a few advantages, including the following:
➡️ Lucrative commission payments, with $250,000,000 in commissions that have been paid
➡️ A secure, transparent trading environment
➡️ Customizable deals
➡️ Flexible commission structures
➡️ Robust marketing strategies
➡️ Reliable pay-outs
➡️ Innovative technology
➡️ Multilingual trading platforms
Verdict on AvaTrade
Online brokers AvaTrade and TD Ameritrade both have good trust ratings and many satisfied customers. AvaTrade has more than 300,000 registered users and is mentioned on a few respected broker review sites.
Clients around the world can rely on AvaTrade because it is regulated by three of the world’s top three financial regulators: Tier-3, Tier-2, and Tier-1. Since its inception in 2006, AvaTrade has grown to include an incredible array of trading tools and services.
When it comes to the different financial markets that AvaTrade provides access to for Nigerian novice, intermediate, and experienced traders, AvaTrade is the best choice.
AvaTrade Pros and Cons
| ✔️ Pros | ❌ Cons |
| AvaTrade is multi-regulated and one of the most trusted online trading brokers in the world | Variable spreads are not offered |
| There is a wide range of financial instruments that can be traded across financial markets | There is a limited choice between account types |
| There are several technical indicators, economic indicators, and other solutions for advanced traders | Inactivity fees are applied |
| There are several trading platforms to choose from | Currency conversion fees may be applied |
| There is a decent selection of educational material that helps beginner traders navigate complex instruments and lower the degree of risk they are often exposed to | There is a limited number of base currency options offered on accounts |
| There is a multitude of social trading opportunities offered | |
| The broker accepts any trading strategy including automated trading, expert advisors, scalping, hedging, and others. |
Frequently Asked Questions
Is AvaTrade regulated and by whom?
Yes, AvaTrade is regulated by the Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, PSA.
Which trading platforms are supported by AvaTrade?
AvaTrade supports the use of these trading platforms:
- AvaTradeGO
- AvaOptions
- AvaSocial
- MetaTrader 4
- MetaTrader 5
- DupliTrade
- ZuluTrade
Does AvaTrade offer leverage and what is the maximum ratio offered?
Yes, AvaTrade offers maximum leverage up to 1:400 on major forex pairs.
What is the overall rating for AvaTrade out of 10?
The overall rating for AvaTrade is 9/10.
Is AvaTrade suitable for beginner and professional traders?
Yes, AvaTrade is an ideal broker that can be used by beginner and professional traders.
Overall Rating
- 4.9/5
Min Deposit
USD 10 / 4145 NGN
Regulators
CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA
Trading Desk
MT4, MT5, MT4 WebTerminal, mobile (iOS & Android, Exness Trader)
Crypto
Yes
Total Pairs
97
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
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