Singapore Dollar Forex Trading Accounts
AvaTrade Review
Overall, AvaTrade is considered low risk, with an overall Trust Score of 93 out of 100. AvaTrade is licensed by five Tier-1 Regulators (high trust), five Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). AvaTrade offers South Korean traders a single live trading account with the option between Retail and Professional.
- Candice Barnes
Jump to:
Overview
Regulation and Safety of Funds
Awards and Recognition
Account Types and Features
Account Registration
Broker Comparison
Trading Platforms
Range of Markets
Fees
Deposit and Withdrawels
Education and Research
Bonuses and Promotions
Affiliate Programs
Customer Support
Social Responsibility
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.9/5
Min Deposit
USD 100 / 133514 KRW
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
24 Hours
Overview
AvaTrade is an excellent alternative for South Korean traders, providing a comprehensive range of tradable assets ranging from forex, equities, and commodities to cryptocurrencies and indices.
South Koreans benefit especially from the broker’s customized offerings, such as the MetaTrader 4 and MetaTrader 5 platforms, which provide beginner and seasoned traders with powerful charting tools and automated trading capabilities.
Including local market data and relevant trading pairings, such as EUR/USD, reflect the region’s distinct financial interests.
Furthermore, AvaTrade’s mobile platform, AvaTradeGO, is tailored to South Korean traders’ busy lifestyles, allowing them to trade while on the go with a user-friendly interface.
Social trading platforms such as AvaSocial and ZuluTrade allow traders to tap into the collective wisdom of a worldwide trading community, which appeals to South Korea’s tech-savvy populace that values collaborative learning and creativity in trading methods.
AvaTrade positions itself as an affordable brokerage option for South Korean investors, showcasing attractive features such as low spreads, zero fees, and a transparent pricing model.
Additionally, providing instructional resources and multilingual customer support – with tailored offerings for local traders in Korea included- highlights AvaTrade’s commitment to fostering a welcoming trading atmosphere that nurtures growth and prosperity among its users.
Distribution of Traders
Currently has the largest market share in these countries:
- South Africa – 7.1%
- Italy – 7.84%
- Malaysia – 12.39%
- Germany – 6.11%
- Ireland – 10.63%
Popularity among traders
AvaTrade is one of the top 5 forex and CFD brokers for South Korean traders.
AvaTrade at a Glance
| 🏛 Headquartered | Dublin, Ireland |
| 🌎 Global Offices | Australia, Ireland, South Africa, Japan, British Virgin Islands, UAE |
| 🏛 Local Market Regulators in South Korea | Financial Services Commission (FSC) |
| 💳 Foreign Direct Investment in South Korea | 264.92 billion USD (2020) |
| 💰 Foreign Exchange Reserves in South Korea | 395.6 billion USD (2023) |
| ✔️ Local office in Seoul? | No |
| 👨⚖️ Governor of FSS in South Korea | Koh Seung-beom (governor of the Financial Supervisory Service) |
| ✔️ Accepts South Korean traders? | Yes |
| 📊 Year Founded | 2006 |
| 📞 South Korea Office Contact Number | None |
| 📱 Social Media Platforms | Instagram YouTube Telegram |
| ⚖️ Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC |
| 1️⃣ Tier-1 Licenses | Central Bank of Ireland (CBI) Australian Securities and Investment Commission (ASIC) Japanese Financial Services Authority (JFSA) Financial Futures Association of Japan (FFAJ) Investment Industry Regulatory Organization of Canada (IIROC) through Friedberg Mercantile |
| 2️⃣ Tier-2 Licenses | Cyprus Securities and Exchange Commission (CySEC) Financial Sector Conduct Authority (FSCA) Israel Securities Authority (ISA) Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FRSA) Polish Financial Supervision Authority (KNF) |
| 3️⃣ Tier-3 Licenses | British Virgin Islands Financial Service Commission (BVI FSC) |
| 🪪 License Number | Ireland (C53877) Australia (406684) South Africa (45984) British Virgin Islands (SIBA/L/13/1049) Japan (JFSA 1662, FFAJ 1574) Abu Dhabi (190018) Cyprus (247/17) Israel (514666577) Poland (693023) Canada (Friedberg Mercantile) |
| ⚖️ Regulation | Yes, FSP 45984 |
| ✔️ Regional Restrictions | United States, Belgium, Syria, Iran, New Zealand, Cuba |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 1 (Retail and Professional Option) |
| ✔️ PAMM Accounts | MAM |
| 💻 Liquidity Providers | Currenex and other bank and non-bank entities |
| ✔️ Affiliate Program | Yes |
| 📱 Order Execution | Instant |
| 📊 Starting spread | 0.9 pips EUR/USD |
| 📉 Minimum Commission per Trade | None; only the spread is charged |
| 💰 Decimal Pricing | 5th Decimal after the comma |
| 📞 Margin Call | 50% on Retail 25% on AvaOptions Accounts |
| 🛑 Stop-Out | 10% |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | Unlimited |
| ✅ Crypto trading offered? | Yes |
| ✔️ Offers a KRW Account? | No |
| 📉 Dedicated South Korean Account Manager? | No |
| 📈 Maximum Leverage | 1:30 (Retail) 1:400 (Pro) |
| 📊 Leverage Restrictions for South Koreans? | Yes, based on trading experience |
| 💳 Minimum Deposit (KRW) | 133514 KRW ($100) |
| ✔️ KRW Deposits Allowed? | No |
| 📊 Active South Korean Trader Stats | Unknown |
| 👥 Active South Korean-based AvaTrade customers | Unknown |
| 🔁 South Korea Daily Forex Turnover | 69.37 billion USD (April 2023) |
| 💰 Deposit and Withdrawal Options | Wire Transfer Electronic Payment Gateways Credit Cards Debit Cards |
| 💻 Minimum Withdrawal Time | 24 to 48 Hours |
| ⏰ Maximum Estimated Withdrawal Time | Up to 10 days |
| 💳 Instant Deposits and Instant Withdrawals? | No |
| 🏛 Segregated Accounts with South Korean Banks? | No |
| 📱 Trading Platforms | AvaTrade WebTrader AvaTradeGO AvaOptions AvaSocial MetaTrader 4 MetaTrader 5 DupliTrade ZuluTrade |
| 💻 Tradable Assets | Forex Stocks Commodities Cryptocurrencies Treasuries Bonds Indices Exchange-traded funds (ETFs) Options Contracts for Difference (CFDs) Precious Metals |
| ✔️ Offers USD/KRW currency pair? | No |
| 📊 USD/KRW Average Spread | None |
| 💻 Languages supported on the Website | English, Chinese (Simplified), Chinese (Traditional), Turkish, Thai, Slovakian, Russian, Portuguese, Polish, German, Hungarian, French, and several others |
| ☎️ Customer Support Languages | Multilingual |
| 👥 Copy Trading Support | Multilingual |
| ⏰ Customer Service Hours | Yes |
| 📞 South Korean -based customer support? | 24/5 |
| 🤝 Most Successful Trader in South Korean | Unknown |
| ✔️ Is AvaTrade a safe broker for South Korean Traders? | Yes |
| 🎖 Rating for AvaTrade South Korean | 9/10 |
| 🥇 Trust score for AvaTrade South Korean | 93% |
| 👉 Open Account | 👉Open Account |
Regulation and Safety of Funds
AvaTrade Regulation in South Korea
AvaTrade is not currently regulated by the Financial Services Commission (FSC). However, AvaTrade global regulations are listed in the table below.
AvaTrade Global Regulations
| Registered Entity | Country of Registration | Regulatory Entity | Tier | License Number/Ref |
| AVA Trade EU Ltd | Ireland | CBI | 1 | C53877 |
| DT Direct Investment Hub Ltd. | Cyprus | CySEC | 2 | 247/17 |
| AVA Trade EU Ltd | Poland | KNF | 2 | 693023 |
| AVA Trade Ltd | British Virgin Islands | BVI | 3 | SIBA/L/13/1049 |
| Ava Capital Markets Australia Pty Ltd | Australia | ASIC | 1 | 406684 |
| Ava Capital Markets Pty | South Africa | FSCA FSCA | 2 | FSP 45984 |
| Ava Trade Japan KK. | Japan | JFSA, FFAJ | 1 | JFSA 1662 FFAJ 1574 |
| Ava Trade Middle East Ltd | UAE | ADGM | 2 | 190018 |
| ATrade Ltd | Israel | ISA | 2 | 514666577 |
| Friedberg Direct | Canada | IIROC | 1 | Friedberg Mercantile |
Client Fund Security and Safety Features
| Security Measure | Information |
| Segregated Accounts | Yes |
| Compensation Fund Member | Yes |
| Compensation Amount | 20,000 EUR |
| SSL Certificate | Yes |
| 2FA (Where Applicable) | Yes |
| Privacy Policy in Place | Yes |
| Risk Warning Provided | Yes |
| Negative Balance Protection | Yes |
| Guaranteed Stop-Loss Orders | No |
Security while Trading
AvaTrade’s dedication to South Korean traders’ safety is shown by its adherence to tough regulatory requirements and having licenses from numerous tier-1 jurisdictions, resulting in a high trust score.
This regulatory control ensures adherence to international financial rules and regulations, providing traders a safe trading environment.
Furthermore, AvaTrade separates customer money from the company’s operations finances, providing an important precaution against future financial mismanagement or bankruptcy difficulties.
In addition, the broker participates in a compensation fund, which provides traders with some financial security. Enhanced security features, such as SSL encryption and, where appropriate, two-factor authentication (2FA), help traders secure their personal and financial information.
Furthermore, AvaTrade provides explicit risk warnings, ensuring that South Korean traders know the possible hazards of trading operations. These thorough safety precautions, together, lead to a secure trading experience for South Koreans on the AvaTrade platform.
What withdrawal options does AvaTrade offer for secure transactions?
The broker offers secure bank transfers, PayPal, Credit/Debit card, Skrill, and Neteller transactions.
Does AvaTrade offer two-factor authentication?
Yes, the broker has two-factor authentication for enhanced protection.
Awards and Recognition
AvaTrade received the following recent awards and recognition:
- Best Online Trading Platform in 2023 in UAE – Global Brands Magazine
- Most Reliable Trading Platform LATAM (2023) – World Economic Magazine
- Best Affiliate Program (2023) – Jordan Financial Innovation Awards
- Best Affiliate Programme UAE in 2023 – Global Business Review Magazine
- Best Mobile Trading Platform in Spain (2023) – Financial Derivative
- Top 10 Hot Brands of the Year (2023) – The Ceoviews
- Most Trusted Broker in 2023 – International Investor
- Best Education in 2023 (UK) – Global Business Magazine
Has AvaTrade received any awards for its services?
Yes, These awards often acknowledge AvaTrade’s excellence in areas such as customer service, trading platforms, educational resources, and overall broker performance.
Which awards has AvaTrade won recently?
The broker dedication to excellence has been consistently recognized by industry peers.
AvaTrade Account Types and Features
| 💻 Live Account | 📉 Minimum Dep. | 👉 Open Account | 📊 Average Spread | 💰 Commissions |
| ➡️ Retail Account | 133514 KRW ($100) | 👉Open Account | 0.9 pips | None |
| ➡️ Professional Account | 133514 KRW ($100) | 👉Open Account | 1.2 pips | None |
| ➡️ Islamic Account | 133514 KRW ($100) | 👉Open Account | 0.9 pips | None |
Live Trading Accounts
Retail Investor Account
Retail Investor Account
AvaTrade’s Retail Account caters to South Korean traders with varying levels of expertise. It provides access to various trading products, including Forex, stocks, commodities, cryptocurrencies, treasuries, bonds, indices, ETFs, options, CFDs, and precious metals.
This account type offers a reasonable beginning spread of 0.9 pips for EUR/USD and no minimum fee per transaction. South Korean traders may trade with a maximum leverage of 1:30 in retail.
The account offers scalping, hedging, and news trading and is available on various platforms, including MetaTrader 4 and 5, AvaTradeGO, and AvaOptions. The minimum deposit is 133514 KRW, and account base currencies accessible include ZAR, USD, GBP, and AUD.
Each platform includes its own set of innovative features, such as risk management tools such as AvaProtect. Furthermore, the retail account offered has the following features:
| Account Feature | Value |
| 💰 Minimum Deposit Requirement | 133514 KRW ($100) |
| 💳 Base Account Currency Options | ZAR, USD, GBP, or AUD |
| 📈 Maximum Leverage | 1:30 |
| 📉 Range of Markets offered | More than 1,250 tradable instruments |
| 💻 Trading Platforms | AvaTradeGO AvaOptions AvaSocial MetaTrader 4 MetaTrader 5 DupliTrade ZuluTrade |
| 💵 Commissions on trades | None |
| 📈 Average spreads | From 0.9 pips EUR/USD |
| 📊 Margin Requirements | From 0.25% when using leverage of 1:400 |
| 📞 Customer Support Channels | Social Platforms, Email Request, Telephone, WhatsApp, Live Chat |
| 📚 Educational Materials offered | Trading Videos, Trading For Beginners, Trading Rules, Technical Analysis Indicators and Strategies, Economic Indicators, Market Terms, Order Types, Blog, Online Trading Strategies |
| 🔨 Trading tools offered | AvaProtect, Trading Central, CFD Rollover, Economic Calendar, Trading Calculator, Earnings Releases, Analysis |
| ✔️ Trading Strategies Allowed | All – scalping, swing trading, momentum trading, expert advisors, algorithmic trading, auto trading, etc. |
| 👉 Open Account | 👉Open Account |
Professional Account
AvaTrade’s Professional Account caters to experienced South Korean traders who fulfill stringent qualifying standards. It provides smaller average spreads beginning at 0.6 pips and larger leverage options, up to 1:400 for skilled traders.
This account provides access to over 1,260 tradable products across several marketplaces. To be eligible, traders must have had considerable trading activity in the previous 12 months, have appropriate financial industry expertise, and maintain a sizeable portfolio.
The Professional Account accepts all trading techniques and is accessible on platforms such as MetaTrader 4, MetaTrader 5, and AvaTradeGO. The minimum deposit remains 133514 KRW ($100) KRW; the account base currencies are ZAR, USD, GBP, and AUD.
| Account Feature | Value |
| 💰 Minimum Deposit Requirement | 133514 KRW ($100) |
| 💳 Base Account Currency Options | ZAR, USD, GBP, or AUD |
| 📈 Maximum Leverage | 1:30 |
| 📉 Range of Markets offered | More than 1,250 tradable instruments |
| 💻 Trading Platforms | AvaTradeGO AvaOptions AvaSocial MetaTrader 4 MetaTrader 5 DupliTrade ZuluTrade |
| 💵 Commissions on trades | None |
| 📈 Average spreads | 0.6 pips |
| 📊 Margin Requirements | From 0.25% when using leverage of 1:400 |
| 📞 Customer Support Channels | Social Platforms, Email Request, Telephone, WhatsApp, Live Chat |
| 📚 Educational Materials offered | Trading Videos, Trading For Beginners, Trading Rules, Technical Analysis Indicators and Strategies, Economic Indicators, Market Terms, Order Types, Blog, Online Trading Strategies |
| 🔨 Trading tools offered | AvaProtect, Trading Central, CFD Rollover, Economic Calendar, Trading Calculator, Earnings Releases, Analysis |
| ✔️ Trading Strategies Allowed | All – scalping, swing trading, momentum trading, expert advisors, algorithmic trading, auto trading, etc. |
| 👉 Open Account | 👉Open Account |
Spread Betting (UK Clients Only)
AvaTrade does not offer South Korean traders a Spread Betting Account.
Base Account Currencies
Base Account Currencies
The base account currencies available to South Koreans include the following:
- USD
- GBP
- AUD
- ZAR
Basic Order Types
- Market Order – A market order can be either a buy or a sell order that executes at the current market price. This is the current price displayed on your price chart. If you place a market order, you will be immediately entered at the best available price.
- Market orders are most effective when a trading opportunity requires prompt action. Click buy/sell at market to enter the trade immediately.
- Stop Order – A stop order can be either a buy or sell stop, depending on whether you wish to purchase above or below the market.
- This is useful for trading breakouts or trend continuation strategies when you want the market to continue moving in the same direction.
- Limit Order – Alternatively, if you believe the price will reverse when it reaches a certain price, you can place a limit order.
- Limit orders can be either buy or sell limits, depending on the market’s direction before your anticipated reversal.
- A sell limit is used to sell above the market, while a buy limit is used to purchase below the market.
Demo Account
AvaTrade’s Demo Account gives South Korean traders a simulated trading environment with virtual money of $10,000.
Furthermore, the AvaTrade demo account is helpful for novices and experienced traders to practice trading techniques across several products, including indices, currencies, stocks, and commodities.
The demo account is accessible for 21 days, with an extension possible upon request, and includes access to real-time price data, technical indicators, and multiple trading platforms such as AvaTradeGO, MetaTrader 4, and 5. This account type enables South Korean traders to acquire expertise without financial risk.
Islamic Account
AvaTrade’s Islamic Account is Sharia-compliant and suited for Muslim traders in South Korea. This swap-free account avoids daily swaps per Islamic banking standards. It permits trading in standard fiat currency pairings but not cryptocurrencies, equities, indices, or ETFs.
The account has competitive spreads beginning at 0.9 pips for EUR/USD and follows the same trading rules as other AvaTrade accounts.
The minimum deposit is 133514 KRW ($100) KRW, and the account comprises most of the same tradable products as the Retail Account, with a few exceptions to meet Islamic criteria.
Can Koreans register a KRW-denominated account with AvaTrade?
No, Korean traders can only choose between USD, GBP, AUD, or ZAR as the base currency for their account.
Does AvaTrade offer an unlimited demo account?
No, the brokers demo account is not available for an unlimited time but expires after 21 days.
How to open an AvaTrade Account – A Step-by-Step Guide
To open an account, South Koreans can follow these steps:
Step 1 – Open up the Avatrade Website.
navigate to the website and select the “Demo Account” option
Step 2 – Insert your credentials.
This will redirect the trader to a registration page where the trader can register using their Facebook or Google credentials, or they can register by providing their First and Last name, email address, and mobile number.
Step 3 – Click on one of the options to proceed.
Once this has been completed, the trader can select to proceed, and registration on the AvaTrade website will have been successful.
Step 4 – Verify and log into your account.
Traders will receive an email to the address that they provided with confirmation that their demo account registration has been successful. The email address will also contain the trader’s login details and relevant links to the AvaTrade website where they can start using their demo account.
When it comes to signing up, the procedure is simple. Traders may join by going to the website and selecting the appropriate option. Before their account can be validated, they must complete an online form, verify their email address, and submit supporting evidence.
With only a few clicks of the mouse, traders may fund their trading accounts and begin trading immediately. Traders may also count on AvaTrade’s helpful customer care for assistance.
How to Close an AvaTrade Account
To close a live trading account with AvaTrade, South Korean traders can follow these steps:
- Before you begin the closing procedure, ensure all your open positions are closed, and any residual money has been taken from your account. It is critical to settle all open deals to prevent difficulties during the closing procedure.
- Contact AvaTrade’s customer support staff. This may be done via various means, including emailing, using the live chat option on their website, or calling their support number. Make sure to keep your account information available for fast reference.
- Clearly express that you want to terminate your account. Prepare to offer your account number and any other pertinent information the customer support agent may want.
- To ensure security, the customer care staff may request that you verify your identity. This is a regular step to ensure the request is valid and protect your account against unwanted closure.
- The support staff may provide you with particular instructions or paperwork to fill out. Follow these steps attentively to guarantee a seamless procedure.
- Once the procedure has begun, you should get a confirmation from AvaTrade immediately or after a little processing time. This confirmation is significant since it formally confirms the closure of your account.
- After obtaining confirmation, preserve a note of the correspondence for future reference. This paperwork may be valuable for any inconsistencies or future inquiries.
What is the first step to open an AvaTrade account?
The first step is to visit AvaTrade’s online forex trading website and click the “Open a Forex Account” option.
Where can I find a step-by-step guide for account opening?
AvaTrade’s website and other review sites provide a step-by-step tutorial for creating an account.
AvaTrade Vs NAGA Vs Plus500 – Broker Comparison
| 🔑Broker | 🥇AvaTrade | 🥈NAGA | 🥉 Plus500 |
| 📈Regulation | Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC | CySEC, BaFin | ASIC, FMA, FSCA, FCA, CySEC, FSA, MAS |
| 📉Trading Platform | AvaTrade WebTrader AvaTradeGO AvaOptions AvaSocial MetaTrader 4 MetaTrader 5 DupliTrade ZuluTrade | NAGA Trading Platform MetaTrader 4 MetaTrader 5 | Plus500 mobile and web-based trading platform |
| 💵Withdrawal Fee | No | Yes | None |
| 🆓 Demo Account | Yes | Yes | Yes |
| ⬇️Min Deposit | 133514 KRW ($100) | 333786 KRW ($250) | 133514 KRW ($100) |
| ✳️Leverage | 1:30 (Retail) 1:400 (Pro) | 1:1000 | 1:30 |
| 🔢Spread | Fixed, from 0.9 pips | 0.7 pips | 0.8 pips |
| 💴Commissions | None | None | None |
| ⛔Margin Call/Stop-Out | 25% – 50% (M) 10% (S/O) | 100%/50% | None indicated |
| 📝Order Execution | Instant | Market | None |
| 💰No-Deposit Bonus | No | No | No |
| 🪙Cent Accounts | No | No | No |
| 📊Account Types | Retail Live Account Professional Account Option | Iron Account Bronze Account Silver Account Gold Account Diamond Account Crystal Account | Standard Live Account |
| 🖋️FSC Regulation | None | None | None |
| ➡️KRW Deposits | None | None | None |
| 💷KRW Account | None | None | None |
| 👥Customer Service Hours | 24/5 | 24/5 | 24/7 |
| 💳Retail Investor Accounts | 1 | 6 | 1 |
| ☪️Islamic Account | Yes | Yes | Yes |
| 📌Minimum Trade Size | 0.01 pips | 0.01 lots | 0.01 lots |
| 📍Maximum Trade Size | Unlimited | 10,000 | 100 lots |
| ⏱️Minimum Withdrawal Time | 24 to 48 Hours | Instant | 1 working day |
| ⏰Maximum Estimated Withdrawal Time | Up to 10 days | Up to 5 working days | 5 working Up to 7 working days |
| 💶Instant Deposits and Instant Withdrawals | No | No | No |
Trading Platforms
Offers South Korean traders a choice between these trading platforms:
WebTrader
AvaTradeGO
AvaOptions
AvaSocial
MetaTrader 4
MetaTrader 5
DupliTrade
ZuluTrade
WebTrader
The AvaTrade Web platform caters to South Korean traders who desire a user-friendly and uncomplicated web-based trading experience. There is no requirement for downloads, enabling instant accessibility to trading activities.
Given its compatibility with the tech-savvy society of South Korea and remote access from any location, this tool proves extremely beneficial for local traders.
AvaTradeGO
South Korean traders can enjoy a mobile trading experience that complements their dynamic lifestyle with AvaTradeGO.
With its intuitive design, the app facilitates rapid and efficient trade execution while they are on the move – making it ideal for busy traders.
The inclusion of local news feeds and market alerts has been well-received by South Koreans as it keeps them informed about relevant financial shifts in real-time, empowering them to make more astute decisions when buying or selling stocks.
AvaOptions
Sentry Derivatives powers AvaOptions, a specialized platform for trading forex options. This platform is designed for professional traders and provides an excellent mobile trading experience. It offers a variety of forex trading options and is ideal for traders seeking more complex trading instruments.
AvaSocial
AvaSocial’s focus on community and cooperation makes it stand out; this is especially relevant to the South Korean trade community, which is well-known for its strong social ties.
With this platform, South Korean traders may follow and replicate the transactions of more seasoned traders within a worldwide network. It also offers a forum for exchanging tactics and market-relevant insights, promoting knowledge sharing and community development.
MetaTrader 4
MetaTrader 4 (MT4) is a popular trading platform available to AvaTrade customers in South Korean. It provides advanced charting tools, multiple timeframes, and various indicators, making it appropriate for traders of all experience levels.
MetaTrader 5
MetaTrader 5 (MT5) is the successor to MT4 and includes new features such as more timeframes and chart types. It also supports trading in a wider range of markets, with 1,260 symbols available. This platform is ideal for traders who want to expand their trading capabilities.
DupliTrade
DupliTrade streamlines trading by copying the strategies of experienced traders, particularly for busy South Koreans who prefer a more hands-off approach.
Given their bustling lifestyle, this platform provides a useful solution for those with limited free time seeking optimal ways to manage and carry out transactions.
ZuluTrade
ZuluTrade, affiliated with AvaTrade, offers South Korean traders a social trading platform to engage and gain knowledge from diverse international traders.
By utilizing this platform in domestic trading operations, Koreans can leverage global market trends for maximum benefits by expanding their skills and refining their tactics based on the broader perspective gained through interaction with foreign peers.
What trading platforms does AvaTrade offer?
AvaTrade offers several proprietary trading platforms like AvaTradeGO, AvaSocial, and AvaOptions. Furthermore, AvaTrade also integrates MetaTrader 4 and 5, ZuluTrade, and DupliTrade into its offer to South Korean traders.
Are AvaTrade’s platforms beginner-friendly?
Yes, AvaTrade provides platforms for both novices and experienced traders.
Trading App
South Korean traders can expect the following range of markets:
- Forex
- Stocks
- Commodities
- Cryptocurrencies
- Treasuries
- Bonds
- Indices
- Exchange-traded funds (ETFs)
- Options
- Contracts for Difference (CFDs)
- Precious Metals
Financial Instruments and Leverage offered
| 🔑Instrument | 🅰️Number of Assets Offered | 🅱️Maximum Leverage Offered |
| 📈Forex | 55 | 1:400 |
| 💴Precious Metals | 5 | 1:200 |
| 📉ETFs | 59 | 1:20 |
| 📊Indices | 33 | 1:200 |
| 💹Stocks | 625 | 1:10 |
| 🪙Cryptocurrency | 20 | 1:25 |
| ✴️Options | 53 | 1:100 |
| 💡Energies | 5 | 1:200 |
| 📝Bonds | 2 | 1:20 |
| 📌FXOptions | 24 | 1:100 |
What financial instruments are available for trading with AvaTrade?
AvaTrade provides various financial products, including leveraged CFDs, forex, and spread betting.
Is Forex trading available on all AvaTrade platforms?
Yes, Forex trading is a crucial feature provided on many platforms.
Broker Comparison for a Range of Markets
| 🔑Broker | 🥇AvaTrade | 🥈 NAGA | 🥉 Plus500 |
| 📈Forex | Yes | Yes | Yes |
| 💴Precious Metals | Yes | Yes | Yes |
| 📉ETFs | Yes | Yes | Yes |
| 📊CFDs | Yes | Yes | Yes |
| 💹Indices | Yes | Yes | Yes |
| 📝Stocks | Yes | Yes | Yes |
| 🪙Cryptocurrency | Yes | No | Yes |
| 📌Options | Yes | No | Yes |
| 💡Energies | Yes | Yes | Yes |
| 💵Bonds | Yes | No | No |
Trading and Non-Trading Fees
Spreads
AvaTrade’s competitive spreads across various financial products can benefit South Korean traders. Major currency pair EUR/USD starts at an attractive 0.9 pip rate.
In addition to reducing regular transaction expenses, South Koreans may also enjoy reduced costs while diversifying their trades through other assets, such as commodities and stock CFDs, due to these favorable spread rates offered by AvaTrade.
A variety of instruments carry average spreads for South Korean traders, including the following:
- EUR/USD – 0.9 pips
- Stocks – 0.13%
- Crude Oil – $0.03 over market
- FXOptions – 0.9 pips
- Crypto CFDs – 0.15% over market (BTC/USD)
- NASDAQ – 1 pip over market
- ETFs – 0.13%
- Bonds – From 0.03 pips Over Market
- Gold – $0.29 over market
Commissions
For traders in South Korea, one major benefit of using AvaTrade is the absence of commission costs. This means there are no additional expenses to reduce their earnings when executing trades.
Particularly for those conducting large quantities of transactions, as active traders often do, the opportunity to avoid significant charges with this fee-free model is truly advantageous.
Overnight Fees, Rollovers, or Swaps
AvaTrade imposes swap costs, also called overnight fees, on trades that remain open past one night. The rates of these charges vary based on the asset type and whether a position is long or short.
Traders in South Korea should note this expense when dealing with forex since it can substantially decrease overall transaction earnings (particularly for techniques requiring multi-day positions).
Possible fluctuations in overnight fees could manifest as the following:
- EUR/USD – a short swap of -0.000% and a long swap of -0.0091%
- Stocks (Apple) – a short swap of -0.0032% and a long swap of -0.0301%
- Gold – a short swap of -0.0006% and a long swap of -0.0259%
- Silver – a short swap of -0.0006% and a long swap of -0.0259%
- FXOptions (EUR/USD) – a short swap of -0.00926% and a long swap of -0.0000%
- US TECH 100 – a short swap of -0.0006% and a long swap of -0.0259%
- Cryptocurrency (BTC/USD) – a short swap of -0.0333% and a long swap of -0.0610%
- VIX ETN ETF – a short swap of -0.0032% and a long swap of -0.0301%
Deposit and Withdrawal Fees
Traders in South Korea can benefit greatly from AvaTrade’s fee-free policy on deposits and withdrawals.
This advantageous policy applies to various payment methods, allowing traders to efficiently manage their funds without incurring additional fees regardless of whether they conduct transactions in various currencies.
Inactivity Fees
South Korean traders must be aware of AvaTrade’s inactivity fees. If an account remains inactive for three months, a monthly fee of $50 is charged, and if it still stays inactive after 12 months, the amount increases to $100 per month.
While frequent traders need not worry about this cost, those who trade less often should take note.
Currency Conversion Fees
The expenses related to converting currencies pose a significant challenge for South Korean traders, especially those who need to deposit KRW and carry out transactions in USD or EUR.
To convert the deposited funds into the account’s base currency, AvaTrade imposes a fee that can vary over time. Hence, individuals engaging in multi-currency trading should consider this charge while estimating their expenditure.
What deposit methods are available at AvaTrade?
The broker provides various deposit options, including credit cards and wire transfers.
Is there a minimum withdrawal amount?
Yes, the broker might impose minimum withdrawal amounts depending on the payment method used.
Deposits and Withdrawals
Offers South Korean traders the following deposit and withdrawal methods:
- Bank Wire Transfer
- Credit/Debit Card
- PayPal
- WebMoney
- Neteller
- Skrill
Broker Comparison: Deposit and Withdrawals
| 🔑Broker | 🥇AvaTrade | 🥈 NAGA | 🥉 Plus500 |
| ⬇️Minimum Withdrawal Time | 24 to 48 Hours | Instant | 1 business day |
| ⬆️Maximum Estimated Withdrawal Time | Up to 10 days | Up to 5 working days | Up to 7 working days |
| ➡️Instant Deposits and Instant Withdrawals | No | Yes | No |
Payment Method and Processing Times on Deposits and Withdrawals
| 🔑Payment Method | 📈Deposit Processing | 📉Withdrawal Processing |
| 🏦Bank Wire Transfer | Up to 10 days | Up to 10 days |
| 💳Credit/Debit Card | 24 – 48 Hours | 24 – 48 hours |
| 💷PayPal | 24 – 48 Hours | 24 – 48 hours |
| 💻WebMoney | 24 – 48 Hours | 24 – 48 hours |
| 💵Neteller | 24 – 48 Hours | 24 – 48 hours |
| ▶️Skrill | 24 – 48 Hours | 24 – 48 hours |
Is there a minimum deposit requirement?
Yes, the broker requires a minimum deposit of 133514 KRW or $100 to start trading.
Is it possible to deposit in different currencies?
Yes, the broker supports deposits and withdrawals in AUD, USD, GBP, EUR, CHF, JPY, and SGD.
How to Deposit Funds step by step
To deposit funds to an account with AvaTrade, South Korean traders can follow these steps:
Step 1 -Locate the deposit option on your dashboard.
On the account, the trader can click on ‘Deposit’ and select their preferred deposit method.
Step 2 – Click on Fund your account option.
Once you have selected to fund your account you can now select your preferred method.
Step 3 – Enter the amount you wish to deposit.
Add the payment method details into the fields.
Step 4 – Click on ‘Deposit‘
How long does it take for a deposit to reflect?
Deposits can take 24 – 48 hours, depending on the payment method and internal processes.
Can South Koreans use local deposit methods to fund their AvaTrade Account?
No, traders can only use bank transfers, credit or debit cards, PayPal, WebMoney, Neteller, or Skrill to deposit funds to an AvaTrade account.
How to Withdraw from AvaTrade
To withdraw funds from an account with AvaTrade, South Korean traders can follow these steps:
Step 1: Log in
Log into your trading account with your email address and password.
Step 2: withdrawal section
Once logged in, go to the withdrawal section.
Step 3:
Fill out an online withdrawal form through your account.
Your withdrawal will be processed within the next 24 business hours.
Can I cancel a withdrawal request with AvaTrade?
Yes, you can. However, the possibility to cancel a withdrawal request varies depending on the stage of the withdrawal procedure.
Does AvaTrade charge withdrawal fees?
No, the broker does not charge any fees on withdrawals. However, banks and third-party payment processors might charge their own fees.
Education and Research
Education
AvaTrade offers the following Educational Materials to South Korean traders:
- Educational Videos
- Trading guides
- Trading Rules
- Market Terms
- Order Types
- Trading Strategies
- Trading Ideas
- Trader’s Blog
- A demo account with virtual funds
- Educational Articles
Research and Trading Tool Comparison
| 🔑Broker | 🥇AvaTrade | 🥈 NAGA | 🥉 Plus500 |
| 🔢Economic Calendar | Yes | Yes | Yes |
| 📈VPS | Yes | No | No |
| 📊AutoChartist | No | No | No |
| 👁️Trading View | No | Yes | No |
| 📍Trading Central | Yes | No | No |
| 📉Market Analysis | Yes | Yes | Yes |
| 🗞️News Feed | Yes | Yes | Yes |
| 🖥️Blog | Yes | Yes | Yes |
AvaTrade also offers South Korean traders the following additional Research and Trading Tools:
- Technical Analysis Indicators
- Economic Indicators
- Economic calendar
- Trading Strategies
- AvaProtect Risk Management
- Trading Central
- Trading Calculators
- Earnings Releases
- Fundamental Analysis
- Technical Analysis
Are there any AvaTrade webinars available for learning?
Yes, the broker does provide webinars as part of its educational materials.
Can I access AvaTrade’s educational resources on mobile?
Yes, the brokers instructional tools are typically available via mobile devices.
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Bonuses and Promotions
AvaTrade offers South Korean traders the following bonuses and promotions:
- Referral bonus
AvaTrade provides South Korean traders with an alluring Referral Bonus scheme that makes it easy to profit financially while encouraging other traders in their networks to use the site.
This program is very alluring for traders who have already benefited from trading with AvaTrade and would want to spread those benefits to friends and family.
A South Korean trader who recommends another trader and that person establishes a live account with a $500 minimum deposit is eligible for a bonus under this arrangement.
This promotion is special because the bonus may be as much as $250, depending on how much the recommended person first deposited into their verified real account.
Because of this tiered incentive structure, the South Korean trader who referred the new trader will get a larger referral bonus the larger their first investment.
Additionally, it creates a win-win situation in which the referrer receives a sizeable cash incentive, and the new trader has access to AvaTrade’s whole suite of trading tools.
These incentives help the platform’s community flourish and promote AvaTrade’s user base expansion in South Korea, which is advantageous for both the brokerage and the traders.
Can anyone participate in AvaTrade’s referral bonus?
Yes, anyone with a verified and funded trading account with AvaTrade could qualify for the referral bonus.
Can I get the AvaTrade referral bonus on a demo account?
No, you can only qualify if you have a real account that has been verified and funded.
How to open an Affiliate Account with AvaTrade
To register an Affiliate Account, South Korean traders can follow these steps:
Step 1: Navigate to “Partners” tab
Navigate to the website and navigate to the “Partners” tab on the main menu of the homepage.
Step 2: 3-step registration
Next, complete the 3-step registration and application as per the website instructions.
Remember that as an affiliate in South Korea, you must follow AvaTrade’s affiliate standards and local marketing restrictions. Regular contact with your Affiliate Manager may give vital insight and assistance to help you succeed in the program.
Affiliate Program Features
South Korean affiliates working with AvaTrade may expect various options to help and improve their affiliate marketing activities.
First, they are assigned a dedicated professional account manager who provides continuous assistance, direction, and insights into efficient marketing initiatives.
This individualized help is essential for managing the complexity of affiliate marketing, particularly in the volatile financial trading industry.
AvaTrade equips its affiliates in South Korea with an extensive selection of marketing tools comprising personalized banners, landing pages, and email templates.
These cutting-edge technologies are specifically tailored to align with the diverse preferences of South Korean audiences, thus enabling associates to captivate their intended market effectively.
One prominent aspect is the capability to create distinct referral links that enhance efficient tracking and acknowledgment for client reference purposes.
Since the commission structure is highly competitive, South Korean affiliates of AvaTrade can earn considerable amounts based on their referred customers’ trading volume.
Additionally, they have various payment options for convenient and swift revenue acquisition, such as bank transfers, PayPal, and Skrill.
Furthermore, AvaTrade offers sophisticated monitoring and reporting capabilities, allowing affiliates real-time visibility into their referral activity, performance, and revenue. These analytical tools let affiliates constantly review and enhance their marketing efforts.
Are there any promotional materials provided for AvaTrade affiliates?
Yes, the broker offers promotional material to its affiliates.
Is there a minimum pay-out for affiliates?
Yes, the broker has a fee structure for all affiliate types according to their referrals.
Customer Support
AvaTrade provides exceptional customer service, particularly when compared to other brokers. AvaTrade’s live chat representatives are timely, friendly, and helpful, offering relevant information to inquiries.
| 🔑Customer Support | 🥇AvaTrade Customer Support |
| ⏰Operating Hours | 24/5 |
| 🔊Support Languages | Multilingual |
| 👥Live Chat | ✅Yes |
| ☎️Telephonic Support | ✅Yes |
| 🏆The overall quality of AvaTrade Support | 5/5 |
Corporate Social Responsibility
AvaTrade has effortlessly incorporated Corporate Social Responsibility (CSR) into its core business operations, demonstrating a profound commitment to sustainability in the financial industry.
This devotion is shown by their advocacy of investment solutions that are both financially sound and ecologically sensitive. By doing so, AvaTrade aligns its business operations with the overarching objective of financial sector sustainability.
The company’s approach to CSR is comprehensive, including environmental sustainability and humanitarian undertakings that go beyond its core commercial operations.
AvaTrade follows ethical operating principles while emphasizing financial stability and profitability.
This balanced approach represents AvaTrade’s understanding of its business obligations and commitment to positively contribute to the larger society and environment, setting a good example in the financial sector.
Our Verdict
Our ultimate opinion on AvaTrade for South Korean traders is that it is a reliable and adaptable platform that caters to a wide range of trading demands and tastes.
Its diverse variety of tradable commodities, including forex, equities, and cryptocurrencies, along with cheap spreads and a commission-free structure, make it an appealing alternative for new and experienced traders.
The availability of several account types, such as Islamic and demo accounts, increases its attractiveness to a varied trading base.
Furthermore, combining complex platforms such as MetaTrader 4 and 5 and its own AvaTradeGO creates a highly sophisticated trading environment.
However, prospective users should be aware of the platform’s inactivity fees, lack of KRW-denominated accounts, and the lack of direct USD/KRW trading pairings.
According to our research, the training tools and customer assistance offered in several languages, including Korean, are laudable. Still, traders must always be mindful of the inherent hazards associated with trading.
Overall, we can conclude that AvaTrade provides a comprehensive and user-friendly trading environment. Still, like with any platform, it should be selected based on personal trading objectives and risk tolerance.
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Pros and Cons
| ✅Pros | ❌Cons |
| South Koreans can expect competitive trading conditions from AvaTrade | AvaTrade does not offer KRW-denominated accounts to South Koreans |
| AvaTrade is well-regulated in several regions globally | The availability of instruments depends on the trading platform being used |
| All client funds deposited to AvaTrade are held in segregated accounts with top-tier banks globally | There is only one retail account |
| AvaTrade is ideal for Korean beginners with its demo account and portfolio of educational materials | There are inactivity fees charged on dormant accounts |
| There is an Islamic Account available with Halal trading instruments | South Korean traders could face currency conversion fees when they deposit or withdraw in KRW |
| AvaTrade supports several third-party trading platforms and offers its own robust software | AvaTrade does not have 24/7 customer support |
| There are several unique features offered, including AvaSocial, AvaProtect, etc. | AvaTrade is not regulated by the FSC in South Korea and has no local presence |
| AvaTrade protects retail traders by capping leverage on 1:30 for forex major pairs | |
| AvaTrade caters to professional traders by offering a dedicated account | |
| AvaTrade offers over 1,260 financial instruments that can be traded |
Conclusion
Our Review Methodology
For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker.
Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements.
Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.
Now it is your turn to participate:
- Do you have any prior experience with AvaTrade?
- What was the determining factor in your decision to engage with AvaTrade?
- Was it because of the minimum deposit, regulation, retail trading accounts, or other factors?
- Have you experienced issues with AvaTrade, such as difficulty withdrawing funds, inability to verify regulations, unresponsive customer support, etc.?
Regardless, please share your thoughts in the comments below.
Frequently Asked Questions
Is AvaTrade legal in South Korea?
Yes, AvaTrade is licensed by the Central Bank of Ireland and serves South Korean citizens. However, validating your eligibility depends on your resident status is critical.
Does AvaTrade have Nasdaq 100?
Yes, AvaTrade provides Nasdaq 100 as an Index CFD and CFD shares listed on the index under the ticker “US TECH 100.”
Can I trade in Korean Won with AvaTrade?
No, AvaTrade mainly trades in major currencies such as USD, EUR, and GBP. Before you can deposit or trade, you must convert your KRW.
Is AvaTrade Safe or a Scam?
AvaTrade is a reliable broker for South Korean traders. It is regulated by many agencies, which enhances its security and trustworthiness.
What are the minimum deposit and withdrawal amounts for South Korean traders?
The minimum deposit and withdrawal amounts vary according to your payment type. Check AvaTrade’s website for KRW information.
Is AvaTrade regulated?
Yes, AvaTrade is subject to effective regulation in several countries. AvaTrade is controlled by IIROC, CBI, BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, and KNF regulations.
Does AvaTrade offer Korean Won-based bank transfers?
No, AvaTrade presently does not provide direct KRW bank transfers. You must utilize a different payment method, such as international wire transfers or online wallets.
Are there any Korean tax implications for trading with AvaTrade?
There might be. However, this is dependent on your unique circumstances and trading volume. For more particular advice, visit a Korean tax professional.
How long does it take to withdraw from AvaTrade?
The withdrawal period varies by technique, ranging from a few hours to 10 days.
Can I use Korean platforms like Naver Pay or KakaoPay with AvaTrade?
No, AvaTrade currently does not offer Korean-specific payment systems. Use international transfer options for deposits and withdrawals.
Does AvaTrade have VIX 75?
Yes, AvaTrade provides VIX 75 to South Koreans with leverage of up to 1:20 and spreads starting at 0.15%.
Does AvaTrade offer any Korean-specific promotions or bonuses?
AvaTrade sometimes provides promotions and incentives open to all traders, regardless of location. However, they are not specially designed for South Koreans.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.
Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all South Korean investors.
Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.