AvaTrade Sign Up Bonus
AvaTrade Sign up Bonus
New traders will receive a minimum first time Avatrade sign up bonus of $200.
All new traders who register a real account with AvaTrade will receive a minimum welcome bonus of US$200 or currency equivalent in either EUR, AUD or GBP.
The welcome bonus offered by AvaTrade is available for a limited time only and will expire after the 30th of April 2020. Traders who sign up for a demo account will not be eligible for this bonus as it is intended for real accounts only.
A minimum deposit of 1,000 is required to qualify for the bonus in any of the following base currencies:
The maximum bonus amount is $10,000 (or currency equivalent) for deposits of up to $100,000. Should traders wish to deposit more than this amount, and they would like to find out about the bonus amount, their account manager will have to be consulted.
Thus, the bonus amount with first time sign up will depend on the amount deposited and traders can make use of the calculator provided on the website to calculate the bonus amount they will receive.
A welcome bonus, or deposit bonus, is the best way for companies to attract new clients and AvaTrade utilizes this by offering a flexible bonus amount.
AvaTrade additionally offers traders a certain amount of commission when they refer a friend to register a real account with AvATrade. This referral bonus is only paid to the trader after the following requirements have been met:
- After the referred person has registered a real account.
- After the minimum deposit of $500 or currency equivalent has been made to fund the trading account.
- After the referred person has opened a minimum of 10 trades on their new trading account.
The referral bonus, or commission, that the trader receives in return will be determined by the first deposit amount that the referred person makes, and it can be broken down as follows:
- $500 – $2,000 – $50
- $2,001 – $5,000 – $100
- $5,001 – $10,000 – $150
- $10,001 – $20,000 – $200
- $20,001 and more – $250
Additional bonuses, promotions and rewards
AvaTrade does not offer any additional rewards and although provision is not made for either a broker bonus or a trading bonus, AvaTrade has trading conditions that are reasonable when compared to other brokers.
When compared to other brokers who offer no deposit bonus whatsoever, AvaTrade has developed a way to make their offering all the more attractive by allowing traders to make cash back when referring friends to register for a real account.
Although traders who open a demo account will not be eligible for these bonuses, it may encourage them to register for a real account to be able to benefit from first time sign up.
AvaTrade does not offer loyal customers cash backs or other trading bonus schemes which may ensure the steady use of trading accounts and encourage trades in higher volumes, and this may deter traders from using the trading account beyond the initial deposit.
This can however be offset by the trading conditions that AvaTrade offers in comparison to other brokers when comparing both trading and non-trading fees.
Pros and Cons
|1. Deposit bonus offered||1. Minimum $1,000 deposit required to qualify for bonus|
|2. Referral bonus offered||2. No rewards for loyal customers|
|3. Low minimum deposit required||3. No trading bonus|
|4. Two account types offered with the option of an Islamic/Swap-Free account||4. No broker bonus|
|5. Strict requirements to qualify for bonuses|
AvaTrade’s offering is comprehensive and attractive overall, but particularly with regards to the rewards associated with first time sign up along with referrals.
Although the terms and conditions with regards to qualifying for rewards are strict and traders need to read and understand the terms and conditions, it is to ensure that management thereof is efficient.
A lot of brokers do not offer this to their first time clients, and it is definitely an added benefit and encourages more traders to register and make use of AvaTrade’s services.