Trade Nation review

Hotforex Review

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Updated : November 3, 2022

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Regulation and Safety of Funds

Account Types and Features

Account Registration

Trading Platforms

Range of Markets


Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons


Company Block Shortcode

🔎 Account📈 Micro Account💹 Premium Account🌐 HFcopy Account📊 Zero Spread Account
💵 Minimum Deposit$5 ( ZAR 78,66)$100 ( ZAR 1573,11)$300 ( ZAR 4719,32)$200 ( ZAR 3146,21)
💳 Deposit activation durationWire transfer – 2 to 7 Business days
Bank transfer – Up to 10 minutes
Credit & Debit cards – Up to 10 minutes
Alternative (Skrill) – Up to 10 minutes
Wire transfer – 2 to 7 Business days
Bank transfer – Up to 10 minutes
Credit & Debit cards – Up to 10 minutes
Alternative (Skrill) – Up to 10 minutes
Wire transfer – 2 to 7 Business days
Bank transfer – Up to 10 minutes
Credit & Debit cards – Up to 10 minutes
Alternative (Skrill) – Up to 10 minutes
Wire transfer – 2 to 7 Business days
Bank transfer – Up to 10 minutes
Credit & Debit cards – Up to 10 minutes
Alternative (Skrill) – Up to 10 minutes
📈 Leverages1:10001:5001:4001:500
📉 SpreadsStarts from 1 pipStarts from 1 pipStarts from 1 pipStarts from 0.0 pips
📎 CommissionsNoNoNoYes
📑 Order ExecutionsMarket ExecutionMarket ExecutionMarket ExecutionMarket Execution
🔁 Swap- Free✔️Yes✔️Yes✔️Yes✔️Yes
🚀 Open an Account👉 Click here👉 Click here👉 Click here👉 Click here

AvaTrade Overview

👉 According to research in Uganda, AvaTrade, formerly known as AvaFX, is a privately owned online forex and CFD broker. There are several AvaTrade offices around Europe and the Asia-Pacific area, as well as numerous countries where AvaTrade has a license. 👉 AvaTrade does not have offices in Uganda and is therefore not regulated by the Central Bank of Uganda (CBN). However, AvaTrade has regulations through several other entities which proves that Ugandan traders can use this broker and that their funds will be safe. 👉 This AvaTrade Uganda review will provide traders with the details that they need to consider whether the broker is suited towards their unique trading objectives and needs.

Distribution of Traders

👉 The distribution of traders for AvaTrade is as follows: ➡️️​ South Africa – 11.64% ➡️️​ Italy – 5.8% ➡️️​ United Arab Emirates – 5.2% ➡️️​ Australia – 4.7% ➡️️​ United Kingdom – 4.05%

Popularity among traders who choose AvaTrade

🥇 AvaTrade is one of the best and largest forex brokers in the world and while its market share indicated is less than 4% for Uganda, there are thousands of traders that use this broker.

Regulation and Safety of Funds

Avatrade regulation

👉 AvaTrade is well-regulated in seven global regions namely Europe, the British Virgin Islands, Australia, South Africa, Japan, Abu Dhabi, and Israel, with regulations through the following market regulators with corresponding license numbers:

➡️️​ Ireland – AVA Trade EU, Limited is regulated by the Central Bank of Ireland under license number C53877.

➡️️​ British Virgin Islands – Ava Trade Markets Limited is regulated by the BVI Financial Services Commission.

➡️️​ Australia – Ava Capital Markets Australia Pty Ltd. is regulated by the Australian Securities and Investments Commission (ASIC) under license 406684.

➡️️​ South Africa – Ava Capital Markets Pty is regulated by the Financial Sector Conduct Authority (FSCA) under license 45984. With this regulation, AvaTrade is authorized to provide financial products and services to Ugandan traders.

➡️️​ AvaTrade Japan K.K. is regulated and licensed by the Japan Financial Services Agency under license 1662, and the Financial Futures Association of Japan under license 1574.

➡️️​ Abu Dhabi – Ava Trade Middle East Ltd is regulated by the Abu Dhabi Global Markets (ADGM) Financial Regulatory Services Authority (FRSA) under license 190018, with DT Direct Investment Hub Ltd. regulated by the Cyprus Securities and Exchange Commission (CySEC) under license 347/17.

➡️️​ Israel – ATrade Ltd is regulated by the Israel Securities Authority under license 514666577.

👉 With such strict regulation and authorization, AvaTrade is one of the most trusted CFD and forex brokers in the world, with Ugandan client funds held in segregated accounts which are held with top-tier banks in each jurisdiction. AvaTrade is a member of the Investor Compensation Company Limited in Europe, offering European clients additional fund protection.

👉 AvaTrade is not only licensed and well-regulated, but the broker is committed to providing a trading environment that is secure, fair, and transparent, ensuring that all clients are treated equally and that they receive the best possible trading conditions.

Account Types and Features

👉 AvaTrade only offers one standard account to its Ugandan retail traders, with several options and the chance to register a professional account for those who qualify as professionals. The account option that traders can register will depend on their jurisdiction and the regulatory requirements in each. 👉 Ugandan traders have the following options with regards to the retail investor account according to the different regions in which AvaTrade operates: ➡️️​ Europe (Ava Trade EU Ltd) – Retail, Professional, Options, and Spread Betting account. ➡️️​ Europe (DT Direct Investment Hub Ltd) – Retail, Professional, and Options account. ➡️️​ British Virgin Islands – Standard, Options ➡️️​ Australia – Standard, Options ➡️️​ South Africa and Uganda – Standard, Options ➡️️​ Japan – Retail, Options ➡️️​ Abu Dhabi – Retail, Professional, Options ➡️️​ Israel – Standard, Options

Retail Investor Account

Avatrade real account 👉 AvaTrade offers a Standard Retail Account that accommodates most beginner traders and intermediate traders, with the following unique features: ➡️️​ A minimum deposit of 41,500 Ugandan Naira, with the option of registering an account in USD, ZAR, GBP, and AUD. ➡️️​ Maximum leverage up to 1:400 on forex major currencies. ➡️️​ Access to over 1,250 financial instruments. ➡️️​ The ability to choose between several trading platforms, each suited to different trading and investment objectives, skills, and trading styles. ➡️️​ Commission-free trading, with the spread covering the broker fees. ➡️️​ Fixed spreads that start from 0.9 pips on EUR/USD. ➡️️​ Margin requirements from 0.25% when using leverage up to 1:400. ➡️️​ Prompt and dedicated customer support across several communication channels. ➡️️​ A wide range of educational materials and tools. ➡️️​ Comprehensive research, advanced trading tools, and several other benefits.

Professional Account

avatrade professional account 👉 For traders to utilize AvaTrade’s Professional Account, they must first create a retail account with the company. To become a professional trader, traders must first register for an account and subsequently be approved to continue. 👉 Professional Status and a Professional Account are only available to traders who meet two of the following requirements: ➡️️​ Trading activity for twelve consecutive months with proof of significant transactions in a relevant financial market. This includes an average trading frequency of 10 trades per quarter in the past four consecutive quarters in CFDs, forex, or spread betting. ➡️️​ Traders must have at least a years’ experience in the financial services sector. ➡️️​ The trader must possess an investment portfolio to the value of €500,000 (or equivalent in any other currency) and the portfolio must include cash-savings and financial instruments overall.

Options Trading

👉 AvaTrade offers traders the opportunity to either buy and/or sell a certain quantity of a financial instrument, at a predetermined price and a predefined time. When trading options, retail traders can control the instrument and the amount that they trade. In addition, the trader has control over the price and the time that they wish to trade this instrument. 👉 Traders can trade options during a single trading day, over a week, months, and even over a year. AvaTrade offers the choice between Call options and Put Options. Call options provide the buyer with the right they need to purchase an instrument at a given price. This type of options trading is carried out by traders who believe that the market is experiencing bullish periods. 👉 In contrast, Put options offer the buyer the power to sell the instrument at a predetermined price. These types of options are typically traded by traders who believe that the market is currently experiencing a bearish period. 👉 To own an option, the buyer must pay the seller a premium. When the trader becomes the buyer, they pay the premium and when they sell an option, they will subsequently receive the premium.

Spread Betting

👉 Spread Betting with AvaTrade offers the trader the option to trade more than 200 financial instruments spread across forex pairs, commodities, indices, equities, bonds, and Exchange-Traded Funds (ETFs). 👉 With AvaTrade, traders have a minimum trade size of 0.10 lots and the account currency that they can use is GBP. While traders have access to all trading platforms when they trade on a retail or professional account, they may only use MetaTrader 4 when they open a spread betting account with AvaTrade. In addition to a range of markets offered, spread betting with AvaTrade is tax-free.

Demo Account

Avatrade demo account 👉 AvaTrade offers its traders the option to register a demo account through its platforms. This demo account offers traders a risk-free environment in which they can participate in live market conditions, using virtual funds. 👉 The demo account is suitable for all types of traders despite their trading knowledge, skills, or experience. Traders can use the account as they see fit, whether to practice trading, test trading strategies, carry out fundamental analysis, technical analysis, or in-depth market analysis, or simply test out what AvaTrade offers its clients.

Islamic Account

Avatrade islamic account 👉 Fees must be paid if positions are left open for more than 24 hours on the foreign exchange market. For Muslims who follow Sharia Law and so cannot engage in financial transactions that entail the collection of interest, these fees pose a difficulty. 👉 Muslim traders who adhere to Sharia law may have an issue with Swaps since they might be seen as a kind of interest, a compensation for the service the broker is giving. AvaTrade offers Muslim traders a dedicated Islamic Account option, which still features the same trading conditions, but that is exempted from any special fees or interest. 👉 In addition, with an AvaTrade Islamic account, traders have access to the following: ➡️️​ Halal Gold and Silver Trading ➡️️​ Halal Oil Trading ➡️️​ Halal Indices Trading ➡️️​ Islamic Forex Trading

Account Registration

👉 Account Registration with AvaTrade can be completed in a few easy steps. Traders can simply visit the official website of AvaTrade where they can select the option to register. The traders must complete an application on the website, verify their email address, and submit documents for verification.

👉 Once traders have completed this, they can fund their accounts and start trading within a few minutes. In addition, if traders need help, they can contact AvaTrade’s helpful customer support for assistance.


AvaTrade Vs Exness Vs JustMarkets – Broker Comparison

⚖️ RegulationFSCA, CySEC, DFSA, FSA, FCA, FSC, with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regionsCentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISAFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA
📱 Trading PlatformMetaTrader 4
MetaTrader 5
MetaTrader 4
MetaTrader 5
MetaTrader 4
MetaTrader 5
💰 Withdrawal FeeNoNoNo
📊 Demo AccountYesYesYes
📈 Minimum Deposit2,000 NGN41,500 NGN4,100 NGN
📈 Leverage1:10001:400Unlimited
📊 Spread0.0 pipsFixed, from 0.9 pipsVariable, from 0.0 pips
💰 Commissions$3 to $4NoneFrom $0.1 per side, per lot
✴️ Margin Call/Stop-Out40%/10%, 50%/20%25%/10%60%/0%
✴️ Order ExecutionMarketInstantMarket
💳 No-Deposit BonusNoNoNo
📊 Cent AccountsNoNoYes
📈 Account TypesHotForex Uganda Micro Account
HotForex Uganda Premium Account
HotForex Uganda HFcopy Account
HotForex Uganda Zero Spread Account
HotForex Uganda Auto Account
Standard Live Account
Professional Account Option
Standard Account
Standard Cent Account
Raw Spread Account
Zero Account
Pro Account
⚖️ CBN RegulationNoNoNo
💳 NGN DepositsNoNoYes
📊 Ugandan Naira AccountNoNoNo
👥 Customer Service Hours24/524/524/7
📊 Retail Investor Accounts515
☪️ Islamic AccountYesYesYes

Trading and Non-Trading Fees


👉 AvaTrade is one of the most popular market maker brokers in the world that offers fixed spreads. This means that AvaTrade makes the market for their retail traders, providing them liquidity through which their trades can be executed.

👉 AvaTrade forms a bridge between their retail traders and the interbank market by buying large positions from various liquidity providers, which is subsequently sold to traders. AvaTrade offers in-house order execution, which ensures that trades are executed at reliable speeds, with zero commissions charged on trades.

👉 In addition, there are single price quotations and AvaTrade takes its service fee from the spread charged. The average spread that traders can expect from AvaTrade is 0.9 pips on EUR/USD, which is the most-traded forex pair in the foreign exchange market.

👉 Other spreads that traders can expect include:

➡️️​ GBP/USD – 1.6 pips

➡️️​ USD/JPY – 1.1 pips

➡️️​ EUR/CHF – 2 pips

➡️️​ EUR/JPY – 1.8 pips

➡️️​ EUR/GBP – 1.5 pips, and so on.


👉 AvaTrade is a dealing desk and market maker broker with STP execution, which means that commissions are not charged on trades. The broker’s fee is already included in the spread that AvaTrade charges.

Overnight Fees, Rollovers, or Swaps

👉 AvaTrade credits/debits these fees depending on the position size, the time the position is held, the financial instrument being traded, and other factors.

👉 Traders can calculate these fees as follows:

➡️️​ The position size x the amount of daily overnight interest = the daily overnight interest charged/paid.

👉 Traders will find the overnight interest for every instrument on the official AvaTrade website and their trading platform. Typical overnight interest for EUR/USD, for example, is -0.0026% sell and -0.0067% buy.

Deposit and Withdrawal Fees

👉 AvaTrade does not charge any deposit fees or withdrawal fees. However, Ugandan traders may be subject to processing fees that are charged by their bank or financial institution depending on the deposit method they use, for which AvaTrade cannot be held liable.

👉 In addition, because AvaTrade does not natively offer the Ugandan Naira as a base currency, Ugandan traders may be subject to currency conversion fees on deposits and trading activities.


Deposits and Withdrawals

avatrade deposits

👉 AvaTrade offers Ugandan traders the option to deposit and withdraw funds using the following methods:

➡️️​ Bank Wire Transfer

➡️️​ Credit/Debit Card

➡️️​ PayPal

➡️️​ WebMoney

➡️️​ Neteller

➡️️​ Skrill

The process to Withdraw Funds from an AvaTrade Account

👉 To withdraw funds from an AvaTrade account, traders must first ensure that their trading account has been verified and approved, as is required according to the Know Your Customer process. AvaTrade offers instant withdrawals that take up to two working days, if done during working hours and days.

👉 To withdraw funds traders can log into their trading account using their email address and password. Once traders have successfully logged in, they can navigate to the withdrawal section where they can complete an online withdrawal request.

👉 Once complete, traders can submit the form and it will be processed within 24 business hours. When traders request a withdrawal, they must ensure that they have selected the same method that they used when they deposited funds due to anti-money laundering policies.

AvaTrade Education and Research

Avatrade trading for beginners

👉 AvaTrade offers a choice in educational content, materials, and resources for novice traders including:

➡️️​ Educational Videos and video tutorials to help beginners gain the relevant experience

➡️️​ Trading guides and resources for beginners

➡️️​ Trading Rules

➡️️​ Market Terms

➡️️​ Order Types

➡️️​ Trading Strategies and trading ideas

➡️️​ Blog

➡️️​ A demo account with virtual funds

➡️️​ Articles, and more.

👉 The research tools, resources, and material that traders can expect from AvaTrade include the following:

➡️️​ Technical Analysis Indicators as well as strategies

➡️️​ Economic Indicators and an Economic calendar

➡️️​ Trading Strategies

➡️️​ AvaProtect Risk Management

➡️️​ Trading Central

➡️️​ Trading Calculators

➡️️​ Earnings Releases

➡️️​ Fundamental Analysis

➡️️​ Technical Analysis


Bonuses and Promotions

👉 AvaTrade offers a range of bonuses and promotions often. At the time of writing, AvaTrade offers the following bonuses:

➡️️​ A new account promotion to all traders who register a trading account for the first time according to their deposit amount. Traders must pay a minimum deposit of $200 (or currency equivalent in other accepted deposit currencies) to receive a bonus of $40. The maximum that traders can deposit is $10,000 which will give them a bonus of $2,000. For amounts exceeding this, traders must contact their dedicated account manager.

➡️️​ The Refer a friend bonus offers traders the chance to earn between $50 and $250 when their referral registers a live account and makes an initial deposit from $500 up to $20,000 and more. The amount that traders can earn will be determined by the first deposit that their referral makes.

AvaTrade Affiliate Program

👉 AvaTrade has more than 70,000 affiliates worldwide in over 150 countries. The affiliate program offered by AvaTrade has several benefits including some of the following:

➡️️​ More than $250,000,000 in commissions that have been paid

➡️️​ Well-regulated and secure trading environment

➡️️​ Customizable deals as well as flexible commission structures

➡️️​ Innovative and robust marketing strategies

➡️️​ Fast and reliable payouts

➡️️​ Innovative technology that offers transparency

➡️️​ Multilingual trading platforms

👉 Partners can choose between becoming an introducing broker, flexible white-label, tied agent, business partner, online affiliate manager, and the trading academy.

Verdict on AvaTrade

👉 AvaTrade is one of the most popular online brokers currently, with a high trust score and many positive reviews from existing clients. AvaTrade has over 300,000 registered users and is featured on several trusted broker review sites.

👉 AvaTrade is well-regulated by Tier-3, Tier-2, and Tier-1 regulators, which ensures that global clients can trust this online trading broker with their funds. AvaTrade has been around since 2006 and the brand continues to expand, adding more to its already impressive portfolio of trading solutions and services.

👉 AvaTrade is ideal for Ugandan beginner traders, intermediate traders, and professionals regardless of the trading style or strategy that they apply across the many financial markets that AvaTrade offers access to.


AvaTrade Pros and Cons

✔️ Pros❌ Cons
AvaTrade is well-regulated and has a high level of trustworthiness, transparent trading costs and a safe trading environmentVariable spreads are not offered
AvaTrade offers more than 1,250 tradable financial assets spread across several asset classesThere is no choice between different types of accounts for retail trading
AvaTrade offers a range of technical indicators, economic indicators, and several other solutions for advanced traders to increase their trading skillsInactivity fees are applied after a certain number of months of inactivity
There is a great selection of trading platforms across several devices, including a powerful proprietary platform, desktop platform, and mobile platformsCurrency conversion fees may apply and there are limited base currencies offered
Offers a decent selection of education tools to help novice traders navigate complex instruments and lower the degree of risk they are exposed to
Offers an Islamic account option and a demo account for practice trading
Offers several social trading opportunities in addition to helpful tools, and news streaming
Award-winning broker with a good reputation and a dedicated customer support team
Accepts and supports a broad range of trading strategies including automated trading, expert advisors, scalping, hedging, and others.
Offers and supports cryptocurrency trading across several popular digital assets

Frequently Asked Questions

Is AvaTrade regulated and by whom?

Yes, AvaTrade is regulated by the Central Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, and ISA.

Which financial instruments can I trade with AvaTrade?

You can trade any of the following:

  • Forex – including major currency, minor currency pairs, and exotic pairs
  • Cryptocurrencies
  • Commodities
  • Precious Metals
  • Treasuries
  • Bonds
  • Indices
  • Stocks
  • ETFs
  • Options
  • CFDs

Which trading platforms are supported by AvaTrade?

AvaTrade offers the following:

  • AvaTradeGO
  • AvaOptions
  • AvaSocial
  • MetaTrader 4
  • MetaTrader 5
  • DupliTrade
  • ZuluTrade

Does AvaTrade offer leverage and what is the maximum ratio offered?

Yes, AvaTrade offers a maximum leverage ratio of 1:400.

What are the spreads that AvaTrade charges?

AvaTrade offers average spreads from 0.9 pips on EUR/USD.

Does AvaTrade charge commissions per trade?

No, AvaTrade does not charge commissions because these fees are already included in the spread.

Does AvaTrade offer an Islamic Account?

Yes, AvaTrade offers a dedicated Islamic Account to Muslim Traders.

Does AvaTrade offer a Demo Account?

Yes, AvaTrade offers a demo account.

What account types does AvaTrade offer?

AvaTrade only offers one retail trading account with the option of a professional account. In addition to this, depending on the region of the trader, they have the option of using options trading and spread betting.

Which deposit currencies can I use to make a deposit?


What is the minimum deposit required to register an account with AvaTrade?

$100 or currency equivalent in ZAR, GBP, or AUD.

What is the overall rating for AvaTrade out of 10?


Is AvaTrade suitable for beginner and professional traders?

Yes, AvaTrade accommodates all types of traders despite their trading experience, knowledge, skill, trading style, or strategies.


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