Ireland Canada USA Hong Kong China Belgium France New Zealand Russia Zimbabwe. If anyone tries to open up an account in any of these countries they will succeed in opening the account and possibly funding it, but they will not be able to be linked to the MAM and be able to trade. This is due to regulations in their own country. Africa or Australia please contact our support section: [email protected]
Neteller Credit/Debit Cards Rapid Transfer Skrill Bank Wire Transfer.
Yes you can but see "withdrawals" for how this affects you withdrawing your funds.
Further deposits must be between $100 and $20000 if using Credit/Debit Card. There is no limit if the deposit is made using Bank Wire Transfer.
Yes you can. They will need to go through the verification process and upload an MAA for their own account.
Avatrade do not apply any transaction charges for deposits but your own bank may apply a charge for the transaction.
Obtain a sign up link from your introducer. Set up Your Davenport Financial Account. Set up Your own personal Broker account with Avatrade (you must use the link given by us). Request your Managed Account Authorization documents. Upload all verification documents & MAA documents to Avatrade. Once approved contact us at [email protected] to request your account be linked to the MAM. Once your account is linked and funded, trading will commence automatically, however, you cannot join a running trade, you will be included in the next new trade that is placed. The whole process could take as little as 72 hours (excluding weekends) but maybe longer during busy periods.
Please allow 24-48 hours for this to complete (excluding weekends), if your account is not verified within that time frame please email us at [email protected] to let us know. Please quote your Avatrade account number in the email. NOTE - YOU DO NOT NEED TO WAIT FOR YOUR PERSONAL DOCUMENTS TO BE VERIFIED BY AVATRADE BEFORE YOU UPLOAD YOUR MAA.
On average 5 per day 25 per week, sometimes it is less and sometimes it is more, it really does depend on trading conditions.
CFD - Forex Trading CFD stands for Contract for Difference. This is what’s placed on the Forex market which consists of: Commodities Indices Forex Crypto Stocks Shares
Drawdown is the amount of your money that is put into trades.  The average is 4% - 10%.  It should be noted that this figure is not guaranteed, it is an average figure that the trader aims for, however, if circumstances dictate then a greater figure will be used according to where the traders analysis points him. We prefer to use the term Working Capital, in other words the red minuses you see in your account are actually your money working for you, hence the name Working Capital.
If deposits are by Bank Wire Transfer all money has to be withdrawn to the last Bank Account from which the deposit was made. If the deposit is by Credit/Debit Card, up to 200% of the deposited amount can be withdrawn to the Credit/Debit Card (if the withdrawn funds are profits). The remainder has to be withdrawn via Bank Wire Transfer.
There is no minimum withdrawal amount except for Bank Wire Transfer where the minimum is $100.
Performance Fees are deducted anywhere between the 2nd and 15th of the month at a rate of 35% and are deducted from profits only.
The commission is 5% of the total monthly profit of each person you have introduced. You must have accumulated a minimum of £50 (GBP) before you can request payment, you will be sent a statement of commission earned every month for your records.
You can use the Avatrade Desktop Site or you can download Avatrades' MetaTrader 4 using the link below. https://www.avatrade.com/trading-platforms/metatrader-4 (If you encounter any issues using this platform then please contact Avatrade direct). There is a Live Chat facility on the site.
You can raise a support ticket in your Davenport back office to ask us to unlink your account from the MAM. Please note that this will only unlink your account so it will not be included in any further trades. It will not give you control over existing trades or close them. This option allows you to change your mind at any time and have your account re-linked to the MAM. If you wish to have your account removed from the MAM completely and close any open trades then please see the FAQ "How do I remove my account from the MAM?"
Yes you can have more than one account in your own name, please note you will not earn commission from further accounts in your own name and you will need to upload a separate MAA for each account that you add.
You will need to sign up using a specific referral link from your introducer. If you do not sign up using this link you will not be able to be linked to our MAM.
You will need to add a second account to your existing Avatrade account - please follow these instructions to correct it: Log into your Avatrade Account (Desktop Site) - click on My Accounts - then click on Add Account/Real Account - make sure it shows MetaTrader4 as the trading platform and then change the base currency to USD. Once this is completed, please upload your new MAA documents reflecting the new Avatrade account number.
You can fund your Avatrade account as soon as you register but it is probably best to wait until your account is fully verified. Fully Verified means that personal documents and your MAA must have been verified by Avatrade, you will know when this happens as you will receive an email from Davenport Financial letting you know your account has been linked to the MAM.
Avatrade do not accept deposits using BTC or any other Crypto Currency.  Generally the issue with Bitcoin is that there are anti money laundering regulations to comply with. These are extremely strict. Avatrade need to know the source of the transaction and have to run a cyber source security check on every transfer which is impossible with Bitcoin. Also for larger deposits there would need to be proof of funds, which is also very difficult with Crypto. Generally AML regulations do not allow Avatrade to use Crypto.
Yes you can but see "withdrawals" for how this affects you withdrawing your funds.
$20000 is the most you can deposit in any one transaction via Credit/Debit Card. There is no individual transaction limit if the deposit is made using Bank Wire Transfer.
Account stacking is where a member signs up initially under their introducer and then opens a second account for themselves using their own link, this is a practice we will not allow as your introducer then loses commission which is rightfully theirs. Any commissions earned through account stacking will be passed to your introducer, we will not pay commissions earned on your own account to you.
$500 = 0.01 lot size. $1500 = 0.02. $2500 = 0.03 (approximately - this is trade dependent). $3500 = 0.04. $4500 = 0.05. Then it is approximately a lot size for every $1000 deposited after that. When the market conditions dictate the Trader may adjust the lot size temporarily purely as a precaution.
There is no limit on your total account size, but if, for example, you were making an extremely large deposit you may be asked to explain the source of funds. The minimum amount we would recommend that you keep as your equity figure would be $300 - $500.
You will need Photographic ID such as a Passport or Driving Licence initially, then as you progress with your application you will need to upload your completed Managed Account Authorization Document (4 pages).
Please allow 24-48 hours for this to complete (excluding weekends), if your account is not linked within that time frame please email us at [email protected] to let us know. Please quote your Avatrade account number in the email. We will advise you via email when linking has been completed successfully and if you have already funded your account, trading will start automatically.
Our trader has been known to place the occasional trade at weekends on crypto currency as this functions 365 days a year, but this is not normal practice. The vast majority of trades are placed during the trading markets opening hours. Sunday 10pm when the markets open until Friday 10pm when they close. 24/7.
CFD - Contract for Difference is a popular type of financial derivative instrument (such as indices, commodities, currencies, equities and more). CFD trading enables investors to speculate on fast-moving global markets based on the rise or fall of the market or instrument, without actually owning the underlying financial asset.
This is the highest balance your account has shown at any stage after fees have been deducted the previous month. Example: Highest to date $5000. $200 profit made. New Balance = $5200. 35% Fee on $200 = $70. Balance is now $5130. Therefore the new High Watermark is $5130.
The withdrawal review takes up to 24 hours with Avatrade (usually it is much quicker), after that it is down to your Bank as to how long it takes to reach your personal account.
I am afraid we cannot give financial advice. You should contact your own Tax Advisor.
Overnight Charges may sometimes be applied - this is a charge implemented by a broker for holding a position open overnight. It is also known as an "Overnight Finance Charge", and is linked to the interest rate of the underlying currency. Essentially, the charge is an interest payment to cover the cost of the leverage that you use overnight. An overnight charge reflects the cost of the borrowing or lending of the underlying asset and is charged at LIBOR (or equivalent interest rate). Either a plus or minus percentage is applied (+/- %) on the total value of the position but these are few and far between and usually tiny.
Affiliate Commissions are paid at the end of the month direct to your Bank Account or PayPal account.
Yes, our Telegram channel link is below, here you can see updates from the Trader on a weekly basis. https://t.me/joinchat/AAAAAErrzZSqD8PiZJ9-GA
To remove your account from the MAM completely and close any existing trades you must raise a support ticket in your Davenport back office first, you will need to be prepared to accept all responsibility for any losses on your account once the account is removed from the MAM and open trades have been closed. Once we have this acknowledgement in writing we will then give you an email address for a member of the AvaTrade team who you can email instructions to, they will then carry out your request. There is no option to be relinked to the MAM after this, you would need to start from scratch and open a new account if you change your mind.