Can I buy Crypto with Avatrade?
The short answer is no. The Avatrade and Avatrade MT4 platforms only offer Crypto CFD (contracts-for-difference) trading, which means you are not buying the underlying asset. This method of investing in cryptocurrencies is incredibly risky because you are taking additional counterparty risk by not buying the underlying coin.
Another disadvantage to trading Crypto CFDs on Avatrade is the costs. Their platform charges an average of 1% in the spread across their list of available crypto-assets.
How to buy Crypto with an Avatrade alternative
The best alternative to Avatrade to buy and sell cryptocurrencies is the eToro trading platform.
eToro is a regulated multi-asset broker that offers over 70 different cryptocurrencies, including Bitcoin, Ethereum, Solana, Avalanche, and more. What’s more, eToro also charges no commission on cryptocurrency trades and offers very competitive spreads. For example, the spread on BTC/USD is currently just 0.
You can get started with this simple guide:
- Create an account: Sign up to the eToro platform and verify your identity.
- Fund your account: Select the 'Deposit Funds' button on the bottom of your screen to deposit USD, EUR, GBP or AUD via Bank Transfer, Debit Card, Credit Card, PayPal or Skrill.
- Find Crypto on eToro: Once the funds hit your account, find the Crypto you want to buy on the eToro platform with their 'Discover' tab.
- Execute your trade: Input the amount you want to buy and execute your trade.
Avatrade is an online broker that offers trading in a wide range of financial instruments, including forex, CFDs, and cryptocurrencies. The company was founded in 2006 and is headquartered in Dublin, Ireland. Their platform is regulated by the Central Bank of Ireland and has a global client base of over 200,000 clients. The company offers a variety of trading platforms, including the popular MetaTrader 4 platform, as well as its own proprietary platform, AvaTradeGO.
Their platform offers a wide range of tradable assets, including major and minor forex pairs, CFDs on stocks, indices, commodities, and cryptocurrencies (CFDs). The company also offer Islamic accounts and a variety of account types to suit different trading styles and strategies.
Avatrade also has a strong commitment to customer support and education and offers 24/7 live customer support in 14 languages. The company also provides a comprehensive range of educational resources, including video tutorials, e-books, and articles.