AvaTrade is another globally known forex broker that is part of the AVA Group. AvaTrade was created in 2006. It has been acknowledged as a premier brokerage firm in Asia, Africa, and Australia and has garnered various honors. AvaTrade provides reasonable trading costs and trading capital requirements, despite the broker’s competitive trading conditions, which are only found with a few firms.
The avatrade minimum deposit zar is $100 only. This minimum investment is equal to 1, 549.00 ZAR, based on the present exchange rate between the American dollar and the South African Rand. The broker offers the opportunity to upgrade to a Pro trading account to acquire additional market exposure with bigger leverages and more flexible margin needs.
What is Zar?
The South African rand is denoted by the cash sign ZAR. The South African rand is composed of 100 cents and is symbolized by the letter “R”. Picking the minimum ZAR account broker is the same as finding any Forex broker. Investors must examine each broker’s specifics to see what separates them from one another. While searching for a ZAR account broker, it is critical to evaluate them on the following criteria:
- Segregated Accounts
- Regulatory security
- Trading Platforms
- Excellent Customer Service in the Market
AvaTrade’s minimum deposit varies by platform.
Generally, AvaTrade has a fixed initial minimum capital for opening a real trading account with the broker. A minimum deposit of $100 or 1435 South African rands. Unfortunately, owing to the varying requirements that the platforms come with, the need would vary across different platforms with the broker. Investors may join up to trade MetaTrader 4 or MetaTrader 5 for USD 100. Trading on these sites will not incur any additional fees. On DupliTrade, the minimum deposit requirement rises to 2000 USD or 28,767 ZAR. Furthermore, AvaTrade algorithmic trading platform, AvaSocial, has no minimum deposit requirement so that traders may open an account with as little as $100. AvaTrade GO’s minimum deposit is also $100/1435 ZAR.
Step-by-step instructions for depositing the minimal amount
When enrolled for an active trading account, investors can submit the needed minimum amount by following the procedures below:
- The trader can access their AvaTrade account by logging in.
- On the profile, the trader may pick their preferred deposit method by clicking “Deposit”.
- The trader can then proceed to pay the minimum amount owed using their selected deposit method.
- Depending on the mode of payment used, the deposit may take one to several business days to appear in the trader’s account.
AvaTrade deposit requirements vary per country
Currently, the broker provides four alternative base currencies to traders that never fluctuate and remain constant at all times. The basic currencies accessible are GBP, EUR, AUD, and USD. On the other hand, the GBP account is exclusively available to UK citizens, while the AUD account is only open to Australian people. As a result, investors from South Africa or any other place may pick between USD and EUR accounts based on their desired translation rate for ZAR-EUR and ZAR-USD.