AvaTrade Demo Account
Yes, AvaTrade does offer a demo account. Traders can navigate to the AvaTrade website and select the “Demo Account” option to open a demo account. Trading in a safe environment is great for beginner traders that are new to trading. AvaTrade offers 0% commission and has a high trust rating score of 94% out of 100. AvaTrade is currently not regulated by the CBN.
AvaTrade at a 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)
South Africa (45984)
Japan (JFSA 1662, FFAJ 1574)
Abu Dhabi (190018)
|⚖️ 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%|
How to set up a Demo Account – Step by Step for Nigerians
To register a demo account with AvaTrade, Nigerian traders can follow these steps:
Step 1 – Open up the Avatrade Website.
Navigate to the AvaTrade website and select the “Demo Account” option
Step 2 – Insert your credentials.
This will redirect the trader to a registration page where the trader can register using their Facebook or Google credentials, or they can register by providing their First and Last name, email address, and mobile number.
Step 3 – Click on one of the options to proceed.
Once this has been completed, the trader can select to proceed, and registration on the AvaTrade website will have been successful.
Step 4 – Verify and login into your account.
Traders will receive an email to the address that they provided with confirmation that their demo account registration has been successful. The email address will also contain the trader’s login details and relevant links to the AvaTrade website where they can start using their demo account.
AvaTrade Demo Account Features
Trading can be a very intimidating activity for beginners in Nigeria who have never had exposure to financial markets. Therefore, AvaTrade provides a full demo account for novice traders. If Nigerian traders are starting their trading journey, they can use the demo account as a learning tool, or they can use it to test a wide range of trading methods before applying them and risking real money.
The demo account offered by AvaTrade expires after 21 days. Demo accounts are available on a variety of trading platforms. Using the demo account as a practice account, novices should consult AvaTrade’s website to access various educational resources that will help them better understand the markets and how to utilize them.
Anyone, from the most inexperienced trader to the most experienced trader can benefit from using a demo account.
USD 100 / 41450 NGN
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Account Activation Time
AvaTrade Pros and Cons
|✔️ Pros||❌ Cons|
|AvaTrade offers a range of educational materials for beginners||The demo account is only valid for 21 days|
|There are several comprehensive advanced trading tools offered to experienced traders|
|There are powerful trading platforms provided|
|AvaTrade offers helpful and prompt customer support to Nigerian traders|
|AvaTrade supports several popular trading strategies that can be tested in a demo account|
Frequently Asked Questions
What is the difference between a demo and a live trading account?
A demo account is a practice account that is given by trading platforms and online brokers. It enables a potential user to test the platform before depositing real money. Stock trading platforms, foreign currency trading venues, and commodities exchanges all employ demo accounts.
Does AvaTrade offer a demo account?
Yes, AvaTrade offers a demo account.
How long is the AvaTrade demo account valid?
The AvaTrade demo account runs out after 21 days.
Is demo trading with AvaTrade accurate?
The demo account allows you to explore risk-free trading, but traders should know that a simulated trading environment can differ from real live trading.
Which live trading accounts does AvaTrade offer?
AvaTrade only offers one retail trading account with the option of a professional account. In addition to this, depending on the region of the trader, they have the option of using options trading and spread betting.
Does AvaTrade offer an Islamic Account?
Yes, AvaTrade has an Islamic Account and special trading conditions for Muslim traders.
Does AvaTrade offer a Nigerian Naira Account?
No, AvaTrade does not offer an account denominated in Nigerian Naira (NGN).
What are the available deposit currencies for a live trading account?
The following deposit currencies can be used when traders deposit funds: