AvaTrade Islamic Account Review
AvaTrade is a leading international Islamic forex broker, and they are part of the AVA Group of Companies. Founded in 2006, now AvaTrade is one of the greatest and oldest online brokerages. Our review includes trading platforms, mobile apps, deposit methods, and MT4 integration details. We also compare trading spreads, costs, and leverage. From vanilla options to bitcoin, whatever you want to trade, see if AvaTrade is right for you. Here we discuss the advantages of AVATrade Islamic Accounts offered to the traders belonging to Islamic faith.
The AvaTrade Company now has four offices around the world, located in Japan, Ireland, Australia, and the British Virgin Islands. As one of the largest and most respected online brokerages globally, AvaTrade accepts clients from different regions and accepts trading accounts in other currencies.
The company recently announced a significant partnership with English Premier League champions Manchester City, underlining the brand’s growth and visibility.
Regulation & Reputation – Islamic Account Ava Trade
It is essential to select a Forex broker controlled by a reputed regulatory body, as regulation helps to ensure the loyalty and efficiency of a company. AvaTrade is undoubtedly a reputable firm, regulated by various authorities worldwide.
- In Europe, the broker is regulated by the Central Bank of Ireland under license #C53877.
- The ASIC licenses broker in Australia under license #406684.
- In Japan, the FSA licensed the trading broker under license #1662 and the FFA under license #1574.
- In South Africa, the trading broker is licensed by the FSB under license #45984.
AvaTrade is one of the best trading online brokerages in the industry in terms of reputation and reliability, and traders can trade with confidence. The trading company has won numerous awards for “Best Customer Support,” “Best Alert System,” “Best Financial Derivatives Trading Provider,” and “Best Forex Broker of the Year”.
The firm has now opened up the Canadian market through a partnership with Friedberg Direct. Friedberg Direct is a division of the Friedberg Mercantile Group Limited, a member of the Canadian Investment Industry Regulatory Organization (IIROC), the Canadian Investor Protection Fund (CIPF), and most of the Canadian exchanges. Friedberg Mercantile Group Limited is headquartered at 181 Bay St., Suite 250, Toronto, ON M5J 2T3, Canada. Check out more Forex brokers with Islamic Accounts.
Avatrade Islamic Account – Trading Platforms
One of the most impressive aspects of AvaTrade is the number of online trading platforms available to traders. There is something unique for every trader here, whether you are a beginner, experienced trading expert or something else. AvaTrade offers the following platforms:
- MetaTrader 4 platform
- Meta Trader for the mobile trading (Download the AvaTrade app directly here)
- MetaTrader 5 platform
- Meta Trader for Mac
- Meta Trader for web trading
- The AvaTrade Act platform (Proprietary Platform)
In addition to these trading platforms, AvaTrade features various automated trading softwares to suit every person’s needs. The following are:
- MQL5 Signal Service
- API Trading
- Mirror Trader
Trading Accounts Offered
AvaTrade Most traders keep things simple with their accounts by offering only two types of accounts. A standard account and a demo account. Standard accounts can be opened for $ 100 using a credit card or $ 500 via wire transfer.
In addition to the 2 standard accounts, Muslim traders can open an ‘Interest-free account’ that operates according to Islamic Sharia principles of interest-free trading.
In addition, professional traders can easily open MAM accounts for their clients to manage multiple accounts. This type of account includes the following features:
- Ability to create various sub trading groups
- Expert Advisors (EAs) compatible
- Minimal lot at 0.01 lots
- Multiple allocation parameters
- Order placements for unlimited trader accounts
- All MT4 order types such as stops, limits and close are available
- Trade order placements from a master account
AvaTrade Islamic Accounts Review – AvaTrade Account Types
There are different types of AvaTrade accounts available for your use. Every type of trader should have something to meet their needs. Here are some more details of each type of account you can wait to explore when you open your account.
Some general information before describing the type of each account. When trading with AvaTrade, you can ensure each account has a specific spread. All traders can also trade mini or micro lots and you will always have access to MT4 trading platform and AvaTrade GO mobile platform. This applies regardless of the type of account you choose
An AvaTrade free fund demo account is the best place you can start to learn about broker offers. This applies to any top forex broker you are dealing with. A simple AvaTrade demo account will be available with each trading platform and will be valid for 21 days for your use. The Duplicate platform allows the use of 30-day demos.
The AvaTrade Demo Account is available with all the features you would find with most AvaTrade Live accounts except VIP and professional account types. Overall, the AvaTrade Demo Account is a great place to sample all the features and learn more about the broker.
Once you have verified the AvaTrade demo account the logical next step would be to open an AvaTrade retail account. This is basically the AvaTrade standard account of the EU variety that most traders commonly use. AvaTrade Retail Accounts offers leverage of 30: 1 which is the maximum allowed under ESMA regulations in Europe and under ASIC regulations in Australia.
There is also a negative balance protection and risk alert to protect you when trading. This helps to ensure that your balance does not become negative by using leverage. A dispute resolution service is also available.
Professional traders need professional accounts and facilities. This you can rely on through an AvaTrade professional account. As an EU trader, if you meet specific volume and trading frequency requirements, you can apply to upgrade your retail account professionally. This upgrade comes with many advantages as a professional trader with 400: 1 leverage access.
You will also be able to get PAMM / MAM account management features As a professional client, and you will not receive risk warnings or dispute resolution services.
Spread betting account
Maybe you’re interested in the AvaTrade spread betting option. It can be seen as a somewhat risky form of all-or-nothing style trading, but it is available through brokers if you want to try it. Unfortunately, AvaTrade spread betting is only available to EU based traders.
The AvaTrade online Standard account is available to international traders not from the EU. This is the only form of “regular” account that you can choose with AvaTrade as a global user. The AvaTrade Standard account allows a maximum of 400: 1 leverage in specific large markets.
Secondary AvaTrade Accounts
If you haven’t found anything to meet your needs in a major base level AvaTrade account, you probably need something more targeted. In that case, there is an additional level of account for both EU and international traders.
The AvaTrade VIP account offers low spreads if you are a high volume, premium level trader. These depend on the level of your deposit. A more than 10,000 Euro deposit will qualify you for an AvaTrade VIP account.
Crypto trading has become a major part of modern-day trading. AvaTrade online cryptocurrency trading is also available thanks to the AvaTrade crypto account. It allows trading in major cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Ripple, as well as Bitcoin Cash, Bitcoin Gold, and EOS are cryptocurrencies available on AvaTrade. Overall, Trading in AvaTrade cryptocurrency is available through the MT4 platform and not for Islamic account holders.
AVATrade Islamic Accounts
The availability of Islamic accounts is an essential feature of any broker if you follow the principles of Sharia law. Features Note just a few points like most general accounts: AvaTrade cryptocurrency trading is unavailable, and rollovers can occur on external pairs.
In addition to these points, the AvaTrade Islamic account works great and traders can access it by contacting support. AvaTrade Islamic accounts are generally approved within 1-2 days.
This account is available through a 30-day demo account via the Ava Options trading platform, as we mentioned above. This account is perfect if you want to start trading options with AvaTrade. If traders want to know more about options trading, you can also benefit from the free educational resources provided by AvaTrade.
If you have a company under which you are registered to trade, this is because you want to have an AvaTrade corporate account. This account type allows you to open an AvaTrade account under your business name with the same benefits and nice features.
An AvaPartner account is available to anyone who acts as a broker affiliate to refer friends or clients to trade with AvaTrade. It can be a great way to supplement your earnings if you have an exciting network.
These types of managed accounts can sometimes help allow you to stay out of hand while trading. Such accounts are available through AvaTrade, but only for professional account holders.
AvaTrade Live Account Openings
Now that you have opted for the AvaTrade Live account, here are a few quick tips related to the account opening process that will help you.
The starting process is very simple and accessible. Go to the AvaTrade home page, click Register, choose the original or AvaTrade demo account option depending on your preference and fill out the registration form below.
Avatrade Islamic Review – Account Verification
Trading Account verification can be an unpleasant experience with some brokers. Fortunately, the AvaTrade verification process is simple. After logging in to traders new trading account, click the Upload Documents section on the left side of the page and upload your documents. The account verification process should be completed within 24 hours.
AvaTrade provides several major currencies for you to choose as a base when opening your AvaTrade Live account. These include USD, JPY, EUR, GBP and others. Unfortunately, no ZAR is available for South African traders, and GBP is only available for UK-based users. Similarly, only Australian users/traders can use AUD as their primary currency.
AvaTrade minimum deposit varies between $ 100 and $ 500, depending on the funding method. The minimum credit card and e-payment deposit are $ 100 / € 100. The minimum deposit for AvaTrade Wire Transfer is $ 500 / € 500. It should be noted that e-payment funds are not available to EU- or Australian-based traders, while credit card deposits are unavailable to Canada-based traders.
Available funding methods are listed above and include credit/debit card, e-payment and bank wire depending on your location. As for the duration, credit / debit card deposits with AvaTrade are instantaneous while other procedures take up to 1-7 days to complete.
Deposit and Withdrawal
AvaTrade Deposit and withdrawal is a relatively simple process you expect. The only thing you need to note in this regard is that your deposit and withdrawal procedure should be the same. The method trader uses to deposit in AvaTrade should also be used for withdrawal. In addition, you must ensure that deposit and withdrawal methods are in your name and match your AvaTrade account.
Bonuses are occasionally available but AvaTrade must comply with all regulations set by their regulatory body. AvaTrade bonus amount is available periodically. These can take the form of cash or access to advanced educational courses.
AvaTrade Account Management
Now that you have a full load down on choosing and opening your AvaTrade account, let us move on to managing a few situations that may occur within your account and what you should do.
Traders may need or want to access their AvaTrade account number in some limited circumstances. It can be found in the account area of the AvaTrade dashboard.
AvaTrade Islamic Review – Account reactivation
From one time to another time, you may take a short break from trading and think about what will happen to your account during this time. Inactivity does not expire your account, although your AvaTrade demo account will expire after 21 days (30 days if duplicated). This time period can be extended by contacting AvaTrade Support, or you can simply create a new account.
Sometimes it’s a normal part of life; we forget our passwords from time to time. If you forget your AvaTrade account password, trader can contact the broker support team. They will help the trader follow the steps to reset their new password
No matter what you say, there will be times when you want to close your AvaTrade account. All you have to do in this case is quite simple. First, you need to withdraw any funds in your account. After that, you should contact the AvaTrade support team. They will help you perform the necessary steps to close your AvaTrade account.
Bonuses & Promos
Bonuses may be available depending on geographical location; Contact AvaTrade for more information.
Instruments & Assets
AvaTrade excels at offering traders a wide array of financial trading instruments. In addition, investors are free to trade:
- Forex – Over 55 currency pairs available, minors, including all majors, and many exotics available 24 hours a day, 7 days a week. Traders can easily enjoy competitive spreads as low as 0.8 pips, and leverage up to 400:1.
- Indices, Bonds, Stocks, ETFs & Commodities – The Traders of AvaTrade enjoy the highest leverage and very competitive and low spreads for trading these financial assets.
- Cryptocurrency– All Traders can trade 9 other different cryptocurrencies with up to 20:1 leverage. Those now include Ripple, Ethereum, Bitcoin and Bitcoin cash.
- Options – AvaTrade has made trading options accessible for traders of all experience levels. The new trading platform reduces the complexity of vanilla options and opens up a minimum range of opportunities for those curious about using the product.
AvaTrade Islamic Review – AvaSocial
AvaSocial- AvaTrade users can also download the broker’s social and copy trading platform. Available on iOS , mac and Android devices, the mobile app allows clients to replicate the business of successful investors. Users can choose to trade market signals manually or follow fully automated services. 24/7 Trading Available in Forex, Stock, Crypto and Commodity Markets.
AvaSocial is also an unique social trading platform. Users can interact with other traders through community channels, ask questions about specific strategies, learn more about the crypto market, or look for a trading consultant. This makes it a great tool for new traders.
AvaTrade provides excellent customer support through a variety of multilingual options. Options include live chat, FAQ page, email, social media, fax and telephone. Telephone support is provided in several languages and countries worldwide, including 21 different countries across Europe, 2 countries in Africa, 7 countries across Asia, 4 countries across South America, and 2 countries in the Middle East and Australia.
The proposed support is immediate and informative from local customer support representatives. In Canada, for example, recent partnerships give customers access to locally based Friedberg Direct customer services.
AvaTrade Islamic Account Review – Deposit & Withdrawal
Deposits – AvaTrade provides their clients a variety of deposit options. Traders can fund their accounts through their credit cards (Visa, MasterCard, and Debit), bank wire transfers, and numerous e-wallets such as PayPal, Neteller, Skrill, and WebMoney. The minimal initial deposit for opening an account is only $ 100.
Withdrawal – Traders can withdraw their funds through the same method used for deposits. Withdrawal requests will take up to 5 (five) business days to process Once processed, the withdrawal will be complete as soon as the procedures allow. The fastest way to withdraw is using Ava Debit MasterCard, which Traders can apply to sign up for an account once.
AvaTrade Day Trading Tools
Education – AvaTrade has an exceptional learning center. With videos, ebooks, tutorials, glossaries and much more it can be the best we’ve ever seen their trading website has a complete section dedicated to educating their traders. Besides, in general the whole site is very informative for day traders.
Trading Tools – AvaTrade has many features dedicated to successful day traders. However, one of their most unique features is their automated trading software bundle which is exceptional for day trading.
Asset Range – There are plenty of resources to choose from, making this brokerage great for day traders who are just beginning or experienced.
Examples of variable spreads on AvaTrade;
Spreads are competitive on AvaTrade, and they’re constantly working to reduce them further. The firm has made tremendous progress, especially in the crypto market. Spreads on cryptocurrency trades have recently been reduced by 50% – but an announcement has been made that another third has cut them. As brokers gain confidence in market liquidity, they can be bold on spreads.
AvaTrade accepts traders from Australia, Canada, United Kingdom, South Africa, Singapore, Hong Kong, France, Germany, Norway, Sweden, Italy, Denmark, Thailand, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders will not be able to use AvaTrade from USA, Belgium, Zimbabwe, Iran, Iraq, India, Pakistan, and Spain.
AvaTrade Islamic Review – FAQ
Is AvaTrade valid?
Yes. AvaTrade is a valid Forex and CFD broker. The brand is controlled worldwide, including Europe, Australia and South Africa.
Is AvaTrade controlled?
Yes, the brand is controlled worldwide:
It is Regulated by Ava Capital Markets Australia Pty Ltd ASIC.
Ava Trade Japan KK in Japan it is regulated by FSA (No.1662) and FFAJ (No.1574).
What is the minimal deposit for Avatrade?
The Avatrade account can be opened with 100 (or £ 100 or € 100).
Is Avatrade a Market maker?
No. Avatrade is a broker, not a market maker.
How long does AvaTrade take to withdraw from Avatrade Account?
Avatrade withdrawal process within 1 day. Different withdrawal methods can sometimes take longer actually to clear the funds.
Credit or Debit Card – up to 5 business days
E-wallet – 24 hours
Wire bank transfer – up to 10 days
The Wire transfer delays often depend on the country in question and the bank.
What is Avatrade Leverage?
Leverage assets in Avatrade, and the origin of the trader will vary by country.
In the United Kingdom (UK) and the European Union, leverage is limited to 1:30 due to European controlled conditions.
The non-EU limit is 1: 400
If traders are in Europe, higher leverage is possible through professional accounts.
What methods can I use to deposit funds at AvaTrade?
Deposits can be made via credit card (Visa, MasterCard, debit), bank wire transfer, and numerous e-wallets such as PayPal, Skrill, Neteller and WebMoney.
AvaTrade allows trading in fixed spreads
AvaTrade is a international giant in the forex broker space, and its Islamic trading account maintains the company’s reputation. Offering clients the option to trade in specific spreads, they always try to make sure they meet all kinds of strategies.
AvaTrade Islamic account – Conclusion
All AvaTrade Islamic accounts opened by Muslim clients are governed by Sharia law, and as a result, Forex traders of Islamic faith can experience trusted trading with AvaTrade. Respecting the beliefs of their Islamic clients and ensuring proper adherence to the rules of Islam is an important company policy of AvaTrade. With more than 13 years of experience as a global forex broker, Muslims can feel safe that AvaTrade is living up to its promise.
To set up an Islamic account with AvaTrade, you first need to open the broker’s regular account type and then contact your account manager before doing any business. Next, request your Account Manager to set up a swap-free account for you, making sure your trading is always fully compliant with Sharia law.