AvaTrade Minimum Deposit
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With AvaTrade, the minimum deposit is just $100 via credit, debit, or e-wallet. When using a bank transfer, AvaTrade minimum deposit can reach $500. With AvaTrade, there are no deposit fees, and you can choose from a good range of base currencies.
The traders have to create a real trading account at AvaTrader and deposit $100 in his account to start trading right away. First-time traders may have to deposit a different amount depending on the account type they choose. Deposit activation may take up to 72 hours for first-time traders.
AvaTrade provides traders with a wide range of trading options being a trusted brand globally. AvaTrade scored highly for copy trading, was competitive for mobile, and ranked at almost top for research and pricing. As a regulated brokerage, one of the requirements of AvaTrade is that client funds be kept in segregated accounts.
Also, AvaTrade is authorized and regulated by four different regulatory entities: the Bank of Ireland, ASIC, JFSA, and FSCA. As a result, all client funds must remain separate from the broker’s account to comply with this and several other strict rules and conditions. Further, the segregated account can only be used by traders to conduct trading.
What is AvaTrade minimum deposit?
As of today, the minimum Avatrade deposit is $100, regardless of whether the client uses credit, debit, or e-wallets. But if the bank transfer is used instead, this amount can be raised to $500. In addition to the absence of deposit fees, AvaTrader offers a large library of base currencies, making it easier to avoid conversion fees.
Payment methods and deposit fees
AvaTrade requires a low minimum deposit amount to open a live trading account compared to other brokerage companies. Moreover, AvaTrade does not charge any fees from the traders to make deposits into their accounts. In any case, if fees are charged on transactions when traders are depositing funds in their AvaTrade account, traders must confirm whether their payment providers will waive these fees.
The following payment methods are available to clients for funding their trading account at AvaTrade:
- Wire transfer
- E-wallets such as Neteller, Skrill, and Webmoney
- Credit/debit cards
Additionally, you should know that Canadian clients cannot use credit cards or debit cards to fund their accounts, and European and Australian clients cannot use e-wallets.
However, traders can deposit in their accounts at AvaTrade in the following deposit currencies:
Australian clients can only deposit in AUD, while UK clients can only deposit in GBP.
AvaTrade offers multiple payment methods that are safe and secured so that deposits can be made securely. In addition, as a requirement of regulatory compliance, AvaTrade can request documentation for verification at any point. So, this verification process enables AvaTrade to successfully maintain and manage a secure trading environment for clients while at the same time securing their personal information and funds.
The broker will hold your deposited funds in the base currency you select when opening a trading account. Several brokers also allow you to have more than one account with different base currencies. In contrast, the broker will charge you a conversion fee when you deposit in your trading account in a currency other than your base currency.
Although it is probably not a big deal, traders should be aware of it. Some online brokers offer only major currencies, USD, EUR, JPY, and GBP, to make deposits in the trading accounts. But some brokers offer their traders a variety of deposit currencies to fund their accounts.
At AvaTrade, traders can not make deposits in minor currencies because it only supports major currencies, including GBP, USD, and EUR. Therefore, if you deposit major currency, then the broker will not have to convert it. In contrast, if you deposit minor currency, AvaTrade has to convert it and charge a conversion fee.
However, the trader may wish to deposit funds in a minor currency or a different currency into the same account without incurring any conversion fees. The most convenient way to do this is to open a multi-currency digital bank account. By opening an account at a digital bank, you can upload your existing currency, exchange it in-app, and then transfer it to your trading account instantly and for free.
Guide to deposit the minimum amount
The trader can deposit the minimum amount into the trading account as soon as the trade has registered for the live account and verified the account by AvaTrade. Then, you can follow the given steps to deposit in your AvaTrade live account.
- AvaTrade users can log in to their live accounts
- Traders can choose the preferred deposit method by clicking on ‘ ‘Deposit” in their account.
- If the trader uses their preferred deposit method, they can complete the deposit by paying the minimum amount.
Traders should be aware that the transactions may take a short or long period depending on the payment method, the day of the week, and the time of the day. As a general rule, deposit payments made via Credit/debit cards are instant, but AvaTrade may verify the transaction before crediting it to the trader’s account.
Depending on when the payment was made and what day it is during the week, wire transfers can take from a day to a few business days. Some wire transfers can take up to 10 business days to reflect in the trading account after a wire transfer over the weekend or next business days.
Pros and Cons
In terms of the minimum deposit and deposit options, AvaTrade is among the most reliable brokers, but it also has some cons. Let’s take a look at both.
- Low minimum deposit of $100
- AvaTrade demands no deposit fees means no hidden payments
- Variety of payment methods supported
- A maximum number of deposit currencies can be used
- Australian and EU clients are not allowed to deposit funds via E-payments
- The use of credit cards by Canadian clients is not allowed
- Bank transfer minimum deposit is quite high, up to $500
AvaTrade makes its deposit as straightforward and hassle-free as possible, making it accessible to everyone. In addition to offering a low minimum deposit of $100, the broker offers several deposit and withdrawal options without charging any fees. Traders can also benefit from having a variety of payment methods available to them.
Jason Morgan is an experienced forex analyst and writer with a deep understanding of the financial markets. With over 13+ years of industry experience, he has honed his skills in analyzing and forecasting currency movements, providing valuable insights to traders and investors.
Forex Content Writer | Market Analyst