Unfortunatly AVaTrade doesn't accept U.S clients. To see our review of best U.S forex brokers, click here
Choosing AvaTrade as your broker to do your first trade is a good idea, go for it. In this article, we are going to take you through all the steps necessary, from the registration all the way to setting up your first order. At AvaTrade, opening an account is easy, and needs no prior knowledge. If you have opened an account anywhere on the internet before, you pretty much already know what to expect.
To give you a brief summary: AvaTrade is a global forex and CFD broker. It is regulated by several financial authorities globally, including the Central Bank of Ireland and Australia's ASIC.
Disclaimer: 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
71% of retail CFD accounts lose money
How to get a verified trading account at AvaTrade?
First you need to fill a registration form to apply for an account. Your application needs time to be verified [1 day] after which you can deposit and start trading.
The journey at AvaTrade
AvaTrade account opening step-by-step guide
- Go to AvaTrade‘s website to start the account opening process HERE.
- Follow the account opening process: it is self-evident, but you might need help at some point. Don't worry, we cover the main issues here.
Which AvaTrade account to choose?
If you want to explore the possibilities offered by this broker, you will need to choose an account type, and for that, you should consider how experienced you are in trading and investing.
We have more details about the available account types in our review for you to explore.
71% of retail CFD accounts lose money
Which base currency to choose?
Why does this matter? You can cut your costs.
- If you fund your trading account in the same currency as your bank account, or you trade assets in the same currency as your trading account base currency, you don't have to pay a conversion fee.
- A convenient way to save on the conversion fees is by opening a multi-currency bank account at a digital bank, which is fast and easy.
The base currencies at AvaTrade are: EUR, GBP, USD, CHF, AUD, ZAR, JPY.
Once you have filled out the form, uploaded your documents, chose your account type, base currency and finished the trading survey, AvaTrade will verify your account very shortly.
Why do I need to fill the trading experience survey?
It might seem scary at first, but it is nothing to worry about. This is standard procedure, as brokers need to make sure that you have a basic financial knowledge and you are aware of the risks of trading.
Also don't worry if the broker asks questions about your financial background e.g. your available assets, salary range. This is also part of the risk assesment process – to make sure you don't take on investments and trades you can't afford.
How to deposit and start trading at AvaTrade?
To do your first trade, you have to fund your account. Generally, brokers offer a Bank transfer / ACH / Credit or debit card / E-wallet transfer solution.
This is where you stand at the account opening at AvaTrade
Is there a minimum deposit at AvaTrade?
Unfortunately, yes. At AvaTrade, the minimum deposit amount is $100.
This means that you have to deposit at least $100 to be able to start trading.
However, if you feel like this service is not your cup of tea: no worries. After depositing, you can opt out and withdraw your funds anytime.
If you received your verification email, you are good to go to fund your account and start investing!
Here's how to start after funding your account:
- First, check the products on the platform. You can also search for assets using its search tool,
- Here, you'll see a list of assets by certain categories, like asset classes,
- Click/tap on an asset to see its chart,
- After this step, it is easy to specify the transaction size, order types, and terms.
Is AvaTrade safe?
Yes, AvaTrade can be considered a legit broker, as it is regulated by at least one top-tier regulator, which is a great sign for reliability.
For you, this means that your money is in good hands and you will most probably not become a victim of a scam by AvaTrade.
Throughout the account opening process at AvaTrade, you won't be required to pay anything to create your account. Also, you can close your account anytime you like.
Every time you are planning to dive into finances, make sure you know who you trust your money with. Make sure that the broker is considered trustworthy. We, at BrokerChooser, only recommend regulated brokers on our site, meaning the broker's operations are overseen by a trusted body.
71% of retail CFD accounts lose money
