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"Disclaimer: Please note that this review is not meant for traders based in India. Trading currencies as CFDs is not legal in this region, and you must not trade forex with any unlicensed broker. Please check the legality of forex trading in your region before trading. This review is general for audience in regulated regions."
$100 is the AvaTrade minimum deposit but AvaTrade recommends you start with more than that so you can focus on trading, and not be distracted by running out of capital.
With AvaTrade you face limited deposit methods with PayPal & Crypto not supported across its platforms and you also face limited account base currencies.
In this topic we will explain in detail the implications of AvaTrade minimum deposit and deposit methods.
A high minimum deposit ensures your trades stay open as there's always a ready source of funds waiting in case there's a need to meet margin calls. However, a high minimum deposit could also alienate a certain class of traders who cannot afford it. We discuss the pros & cons below:
Pros
Excellent AvaTrade help &support when trying to make your deposit
Premium AvaTrade traders are paid interest on deposits
Clients' funds are kept in common equity tier 1 capital banks
ZAR account base currency
AvaTrade allows you to cancel a deposit as long as you have not placed a trade with it. You can withdraw your deposit without trading.
Electronic copy of your account statement is delivered to your email
Cons
A high minimum deposit may cause difficulty in answering a margin call
$100 minimum may discourage first-time traders hoping to practice live trading with small capital.
Lack of variety of local deposit methods
AvaTrade does not accept PayPal deposits
AvaTrade does not accept Crypto deposit methods
Limited deposit currencies (only ZAR, USD, GBP, AUD, & EUR accepted)
AvaTrade users in the UK are not covered by the FSCS compensation scheme
Maestro card deposits not accepted (only Master & Visa cards are allowed)
AvaTrade Deposit Methods
AvaTrade does not accept PayPal & Crypto deposit methods. Bank Wire, eWallets, & Cards are the most popular deposit methods accepted by AvaTrade globally.
For a credit Card you can deposit a maximum of $20k but for other methods there's no deposit limitation.
Deposit Method
Deposit time
Acceptable deposit currency
Visa Card
Instant
ZAR, USD, GBP, EUR, & AUD
Master Card
Instant
ZAR, USD, GBP, EUR, & AUD
Neteller
24 hours
ZAR, USD, GBP, EUR, & AUD
Skrill
24 hours
ZAR, USD, GBP, EUR, & AUD
Rapid
24 hours
ZAR, USD, GBP, EUR, & AUD
Wire transfer
7-10 days
ZAR, USD, GBP, EUR, & AUD
Web Money
24 hours
ZAR, USD, GBP, EUR, & AUD
Although a deposit using a debit or credit card is instant, your first deposit through this method may take up to one business day because AvaTrade conducts security verification for the first deposit using cards.
Wire transfer usually takes the longest time compared to other methods, so AvaTrade suggests you scan proof of transaction to them to accelerate the process. The minimum deposit for wire transfer on AvaTrade is $500.
It is noteworthy to add that you must withdraw all your deposits using the same method you used to deposit the funds.
For example, you deposit 3,000 ZAR using Rapid Transfer, and you trade and make some profit such that your account balance is now 4,000 ZAR, you must withdraw the 3,000 ZAR you deposited using Rapid Transfer, and then you can withdraw the balance using any other withdrawal method.
ZAR or Rand is the currency of South Africa and AvaTrade minimum deposit in ZAR is 1,850 ZAR
AvaTrade offers residents of South Africa ZAR, USD, and EUR account base currency, if your account base currency is ZAR then the minimum deposit will be the current equivalent of $100 using the prevailing rate.
As a resident of South Africa, you can avoid currency conversion fee by using a ZAR account and making deposits in ZAR. If you make a deposit in a currency different from your account base currency, you will be charged a currency conversion fee by the third-party financial institution you use to fund your AvaTrade account.
Before thinking of making a deposit you need to create a live AvaTrade account then take the following steps to deposit:
1) Login to your AvaTrade Account from the AvaTradeGo mobile app (get it from Google Play Store or Apple Store) or the AvaTrade website www.avatrade.com
2) Go to the deposit section, then click on 'fund my account'
3) From the options available to you, click on your preferred deposit method. Keep in mind that AvaTrade does not accept PayPal and Google Pay in South Africa
4) From the drop-down menu select the trading account you want to fund'
5) Enter the amount you wish to deposit and click on 'Next'
6) Enter the details for your choice payment method then click on 'Deposit'
We tested AvaTrade extensively including making deposits on their mobile app & web trader. We discovered deposits via mobile app were faster than deposits by web trader. We also tested AvaTrade for their product offering, customer support etc. Read the results of our test in our AvaTrade Review.
This is a list of some of the trading conditions you will likely encounter at AvaTrade after you make your first deposit to place a trade.
Commission-free Standard Trading Account
Fixed spread that does not change irrespective of the market fluctuation
Proprietary risk management tool called AvaProtect and trading companion called Guardian Angel for MT4
3 Copy trading platforms (We will discuss more later in the topic)
A special trading platform for Option CFDs
Variety of trading platforms: MT4, MT5, AvaTradeGO, AvaSocial, AvaOptions, and AvaTrade WebTrader
8 Asset classes: Forex, Stocks, Commodities, Bonds, Crypto, ETFs, Options, and Indices
AvaTrade provides a choice of 3 copy trading platforms – AvaSocial, DupliTrade, and ZuluTrade – each with varying minimum deposits. These are highlighted in the table below.
Copy Trading Platform
Minimum Deposit
AvaSocial mobile app for android & iOS
· Providers: $500 or 9,250 ZAR
· Copiers: $100 or 1,850 ZAR
ZuluTrade
· $200 or 3,700 ZAR
DupliTrade
· $2,000 or 37,000 ZAR
AvaSocial is AvaTrade's in-house and exclusive copy trading platform, while ZuluTrade and DupliTrade are shared copy trading platforms and are available on other brokers.
CFDs on FX option contracts are available exclusively through the AvaOptions trading platform. The minimum deposit requirement for FX Options on AvaTrade is $100 or 1,850 ZAR
Warning: Options are risky instruments and the fact that they are AvaTrade lets you speculate on them using leverage is even more risky. Beginners should avoid trading Contracts for Difference with Options as the underlying asset.
At the moment, AvaTrade doesn't have an ongoing deposit bonus. Nevertheless, AvaTrade occasionally runs deposit bonus promotions for its customers for a limited time.
To stay updated on such promotions, you can frequently check AvaTrade South Africa's website or contact customer support for the latest updates.
At AvaTrade, VIP or Premium clients can enjoy exclusive interest on their deposits. You can attain VIP status in three tiers – Diamond, Platinum, and Gold. Your position in a tier is determined by your cumulative deposit as of midnight every day.
The table below highlights how much annual percentage interest you can get depending on your membership account base currency.
VIP Membership
USD base currency
GBP base currency
EUR base currency
Diamond
3%
2.5%
2%
Platinum
2%
1.5%
1%
Gold
1.5%
1%
0.5%
In a bid to be transparent, AvaTrade calculates your interest daily. You can expect to receive payments at the beginning of each month, so you can stay up to date with your earnings.
If you're looking to become a VIP member at AvaTrade, you'll need a minimum equity of $10,000. Once you reach this threshold, AvaTrade will immediately accept you as a VIP member. Within 24 hours, you'll be able to start enjoying the benefits that come with being a VIP member.
According to Page 6 of AvaTrade's general terms & conditions, AvaTrade may adjust the margin required to keep your trade open without seeking your consent.
If your margin level falls to 50%, a margin call will occur. In such cases, it is necessary to be prepared to transfer additional funds to your account, not below the minimum deposit of $100.
Some of the consequences of failure to deposit to meet a margin call as stated in AvaTrade's terms and conditions document include:
AvaTrade could liquidate your account
AvaTrade could restrict the number of new orders you can open
Because AvaTrade minimum deposit is high, their leverage is noticeably lower than what other brokers allow. A 1:400 leverage limit helps reduce the chances of blowing your trading account due to excessive leveraging.
Let's compare the minimum deposit requirement and leverage limit of AvaTrade vs other brokers using the table below:
Broker
Minimum Deposit
Leverage
AvaTrade
$100
1:400
XM
$5
1:1000
Exness
$10
1:2000
HFM
$5
1:2000
According to page 10 and 11 of AvaTrade general terms and condition document, AvaTrade keeps your deposits and other funds in a pooled client account with selected credit institutions.
It's important to note that as per page 11 of the document, if the appointed institution should default, it may delay AvaTrade's ability to access and control your funds, which could in turn delay your access to your funds as well and AvaTrade will not be held liable for any losses you face due to default from the credit institution.
However, it's your right to ask for information about the credit institution where your money is kept. If you're not comfortable with the selected institution, AvaTrade is required to refund your funds as quickly as possible.
But according to AvaTrade clients' funds are kept in a pooled client account separate from the account(s) where the firm's funds are, and they conduct thorough risk management assessments on their selected credit institutions.
No! AvaTrade does not charge a deposit fee. However, it's important to note that they may charge a fee for a deposit using wire transfer.
It's also worth mentioning that as per their General Terms and Conditions, AvaTrade has the right to introduce new fees at any time. However, they are required to provide at least seven days' notice to clients before implementing any new fees or other deposit methods.
The table below compares the offerings of AvaTrade with other brokers who have a minimum deposit of $100
Metric
AvaTrade
FxPro
Tickmill
Minimum deposit
$100
$100
$100
Spread (Standard A/C)
From 0.9 pip
From 1.2 pip
From 1.6 pip
Spread (Raw A/C)
No Raw Spread Account
From 0.0 pip
From 0.0 pip
Commission
No commission charged
$3.5 per side
$3 per side
Inactivity fee
$50
$10
$0
CFD Markets
Forex, Options, Indices, Bonds, Crypto, Commodities, Stocks, ETFs.
Forex, Indices, Futures, Energies, Metal, Shares
Forex, Stock Indices, Stocks, Cryptocurrencies, Bonds, Commodities
ZAR Account
YES
YES
YES
Copy Trading
YES
NO
YES
Yes, your funds are safe because AvaTrade is a heavily regulated broker. AvaTrade is licensed in over 8 jurisdictions, and they separate customer funds from other monies kept in their bank accounts. Some of the jurisdictions where AvaTrade is regulated are:
South African AvaTrade clients are protected by regulation from the Financial Conduct Authority (FSCA)
Australian AvaTrade clients are protected by regulation from the Australian Securities & Investment Commission (ASIC)
AvaTrade EU clients are protected by regulation from the Central Bank of Ireland. However, clients in the UK are not part of the coverage of the FSCS compensation where traders can be compensated up to 85,000 GBP for pecuniary losses suffered due to a broker's negligence.
Read our AvaTrade Review to find out the jurisdiction where your AvaTrade account is likely to be held.
Is AvaTrade available in South Africa?
Yes, AvaTrade is available in South Africa. AvaTrade is registered as Ava Capital Markets (Pty) LTD with the Financial Sector Conduct Authority (FSCA) of South Africa.
The FSCA in South Africa issued AvaTrade a category 1 license in November 2015, paving the way for AvaTrade to offer Derivative instruments in form of CFDs on Forex, Stocks, Bonds, ETFs, Indices, Crypto. & Commodities.
The category 1 license also authorizes AvaTrade to offer forex investment which it does in the form of Copy Trading via its AvaSocial platform, and external platforms DupliTrade & ZuluTrade.
Can I Deposit $10 On AvaTrade?
No, you cannot deposit $10 on AvaTrade. The minimum deposit you can use to fund your trading account per time is $100.
What is the minimum deposit on AvaTrade?
AvaTrade minimum deposit is $100, or 100 EUR, or 100 GBP, or 1,850 ZAR.
How long does AvaTrade deposit take?
This depends on the deposit method. Card deposits are instant, Local bank in your area is 24 hours, Skrill, Neteller, Rapid Transfer, and Web Money take about 24 hours while wire transfers may take up to 10 days (about 1 and a half weeks).
What base currency does AvaTrade offer?
ZAR, USD, GBP, EUR, & AUD base currencies are available at AvaTrade.
Does AvaTrade accept Crypto deposits?
No, AvaTrade does not accept Crypto funding methods.
Does AvaTrade accept PayPal deposits?
No, AvaTrade does not accept PayPal funding methods.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
