AvaTrade Fees and Spreads
- Louis Schoeman
Jump to:
Fees and Spreads Overview
Additional Trading Fees
Broker Fees
Pros and Cons
Final Verdict
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
| 🏛️ 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% |
AvaTrade Fees and Spreads – 6 key points quick overview:
AvaTrade Fees and Spreads Overview
👉 The spread list for Nigerian traders starts from 0.9 pips EUR/USD.
👉 AvaTrade offers fixed spreads which are marked up to include the broker fees for facilitating the transaction, this exempts traders from paying commissions on trades. The typical spreads that traders can expect when they deal with AvaTrade are:
➡️ Forex – fixed spreads of 0.9 pips on EUR/USD
➡️ Stocks – fixed spreads from 0.13%
➡️ Commodities – fixed spreads from 0.5% on Gold
➡️ Indices – fixed spreads from 0.50% on US_500
➡️ FX Options – fixed spreads of 0.9 pips on EUR/USD
➡️ ETFs – fixed spreads from 0.13%
➡️ Bonds and Treasuries – fixed spreads of 0.03 pips Over Market for Euro Bonds and 0.06 Over Market for Japan Government Bonds
➡️ Cryptocurrencies – From 0.25% Over Market on BTC/USD
Additional Trading Fees
👉 When Nigerian traders leave their positions open for more than a trading day, they incur overnight and swap fees, which are charges or interest that may be credited or debited. AvaTrade charges overnight fees per the following structure:
➡️ The position size
➡️ The position of the trader – whether long or short
➡️ The financial instrument that is being traded
👉 AvaTrade’s fees are calculated according to the position size multiplied by the amount of daily overnight interest. This will provide Nigerian traders with the average overnight interest that they can receive, or which they must pay.
👉 Some typical overnight fees for AvaTrade include:
➡️ EUR/USD – Sell rate of -0.0026% and Buy rate of -0.0067%
➡️ GBP/USD – Sell rate of 0.0044% and Buy rate of -0.0047%
➡️ USD/JPY – Sell rate of 0.0052% and Buy rate of -0.0040%
➡️ USD/ZAR – Sell rate of 0.0056% and Buy rate of -0.0140%
👉 Muslims may convert their retail account into an Islamic account, exempting them from interest from trading activities, at AvaTrade. retail account characteristics are replicated in the Islamic account, which includes the following:
➡️ Halal Gold and Silver Trading
➡️ Halal and Oil Trading on the MetaTrader 4 trading platform
➡️ Halal Indices Trading
➡️ Islamic Forex Trading
👉 AvaTrade does not offer spread betting to Nigerian traders. Therefore, spread betting fees are not applied to traders from Nigeria.
Broker Fees
👉 A broker fee is a non-trading cost that a broker charges to compensate for the services it provides. Inactivity or account administration and maintenance fees are not listed at AvaTrade. AvaTrade does not charge any deposit fees or withdrawal fees on any of the payment methods that Nigerian traders can use.
AvaTrade Pros and Cons
| ✔️ Pros | ❌ Cons |
| Deposit fees and withdrawal fees are not charged | Spreads are marked-up |
| Competitive trading conditions are provided | There is only one retail and one professional account |
| There is a wide range of tradable instruments offered | |
| AvaTrade offers transparent fee schedules |
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 Final Verdict
AvaTrade is one of the most popular online brokers currently, with a high trust score and many positive reviews from existing clients. AvaTrade has over 300,000 registered users and is featured on several trusted broker review sites.
Frequently Asked Questions
Does AvaTrade offer Nigerian shares or other instruments?
Not specifically, Nigerian traders can trade a wide range of instruments from the overall suite offered.
Does AvaTrade offer leverage?
Yes, AvaTrade offers a maximum leverage ratio of 1:400.
Are there leverage restrictions on Nigerian traders?
No, there are no specific restrictions on Nigerian traders.
What spreads can I expect with AvaTrade?
AvaTrade offers average spreads from 0.9 pips on EUR/USD.
Does AvaTrade charge a commission?
No, AvaTrade does not charge commissions because these fees are already included in the spread.
Are there additional charges on the Avatrade Islamic account?
There are no additional charges.
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