AvaTrade Cryptocurrencies Trading - Pros and Cons explained

AvaTrade is a leading forex broker with a physical presence in different continents of the world. It is licensed by Financial Services Board (FSB) in South Africa. AvaTrade was established in 2006 and today it stands as one of the leading brokers all over the world.

Ever since the inception of cryptocurrencies, the interest has increased and traders are looking to make huge profits through trading. However, there is always a risk factor which should be considered. If you are looking to invest in AvaTrade Cryptocurrencies Trading, in this review, we shall cover all the information that you need to know to get started.

Avatrade Website

Overview:

• Available Cryptocurrencies – Bitcoin, Ethereum, Litecoin, Ripple, Dash, Bitcoin Cash, Monero, NEO, IOTA, Zcash, Qtum.
• Minimum Deposit - $100 (T&Cs apply)
• Max. Crypto Leverage - 1:20
• Regulated by – FSB in South Africa - and others
• Demo Account: Yes

Note: Your capital is at risk

Key Features

The key features of AvaTrade include:

Multiple Account Types

Using AvaTrade for cryptocurrency trading, you get the option to use multiple accounts. If you are not an experienced trader, you can try the demo account. This demo account is free for all to use. The best benefits of using a demo account is that you can practice and polish your trading skills. So, when you put your money on the line, you are well prepared for all the challenges that come your way. Those who are experienced traders and want to try their hands on the cryptocurrencies, AvaTrade offers a real account. This is where your money will be on the line and you can start with as low as $100 (T&Cs apply).

Around the Clock Support

One of the major problems that traders face is the lack of support from the brokers. However, AvaTrade offers 24/7 support in as much as 14 different languages. In case of any issue, you can seek instant support.

Educational Material

AvaTrade offers comprehensive educational material using which novices and beginners can learn a lot about trading. The Sharp Trader Education center is specially designed to provide essential tools and equipment that suits your trading needs. This education center is ideal for both beginners and advanced traders.

Numerous Trading Platforms

Another feature of AvaTrade is that it offers several platforms to traders. There is a total of 8 different platforms to choose from. These are listed below:

• MetaTrader 4
• Meta Trader Platform for Mac
• Meta Trader Platform for Floating Spreads 
• Meta Trader Platform for Mobile Trading 
• Automated Trading Platforms 
• AvaTradeAct for CFD and Forex Trading
• Meta Trader Platform for Web Trading 
• Zulutrade

AvaTrade is not just limited to computer and web devices only but it is also available on mobile application known as AvaTradeGO. This mobile app is available for both Android and iOS devices.

Deposits and Withdrawals

Trading in AvaTrade cryptocurrencies can be started with a minimum deposit of $100 only (T&Cs apply). This minimal amount can be deposited using a wide range of funding methods including debit cards, PayPal, credit cards, Moneybookers, Skrill, Webmoney, Neteller, and others. If you want to withdraw your money, it takes just 5 days.

Maximum Leverage

AvaTrade offers a maximum leverage of 1:20 which is quite high in cryptocurrencies as compared to other trading platforms. Each cryptocurrency has its own floating spreads and leverage. The details of which can easily be found on the official website.

Bonus/Special Offers

Using AvaTrade cryptocurrencies, traders can earn exciting bonuses. These bonuses can reach up to $1,000 in some cases (T&Cs apply). The more you invest, the more you can earn as bonuses.

Pros & Cons

Pros for Trading with AvaTrade

Some of the pros of trading with AvaTrade include:

• Attractive bonuses offered which can reach up to $1,000. 
• Educational resources are available for beginners to learn as they progress. 
• Reliable and reputable trading platform. 
• Free demo account to learn the basics before investing your money. 
• Minimum deposit of $100 (T&Cs apply). 
• Market analysis integrated into the dashboard.

Cons for Trading with AvaTrade

• A slightly long withdrawal time of 5 days.
• At times, the spread can be high. Those who don’t know, the spread is the difference between the buying and selling price. In order to make a profit, you need to beat the spread.

Frequently Asked Questions

AvaTrade is regulated and authorized by renowned authorities including CySec, FSB, ASIC, and BVI Financial Services Commission.

The amount of minimum deposit is as low as $100 (T&Cs apply).

Using AvaTrade for trading for cryptocurrencies, a leverage of 1:20 can be applied (T&Cs apply).

There are a total of 8 cryptocurrencies in which you can trade. These are Bitcoin, Ethereum, Litecoin, Ripple, Dash, Bitcoin Cash, Monero, NEO, IOTA, Zcash, and Qtum.

Demo account is free for all. It is a way to learn the basics of trading and gain experience.

Conclusion

After taking into consideration all the key features and pros & cons, we can easily ascertain that trading cryptocurrencies with AvaTrade is a good option for both beginners and expert traders. The low investment option gives people of all income scales a better chance to make it big with trading. The fluctuating prices of cryptocurrencies may seem alarming for some but the fact that it gives huge returns, making it a wise choice. Moreover, new users can also learn from expert traders through automated trading platforms.

Note: Your capital is at risk