AvaTrade Copy Trading Review 2024: πŸ” Is It Worth It?

AvaTrade Copy Trading Review
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AvaTrade, a leading online trading broker, offers its clients a robust copy trading platform that empowers both new and experienced traders to benefit from the expertise of top-performing traders. In this review, we will explore the features, benefits, and considerations of AvaTrade's copy trading service to help you make an informed decision.

What Is AvaTrade Copy Trading?

AvaTrade's copy trading platform, known as AvaSocial, is a platform that allows traders of all experience levels to automatically copy or mirror the trades of successful investors, called signal providers, in real-time.

By carefully selecting and monitoring the performance of copied traders, followers can create a diversified portfolio and potentially achieve their investment objectives with AvaTrade social trading.

Followers will pay a portion of their profits to signal providers as payment for their services. This portion is calculated as a percentage and is clearly stated by the signal provider. A follower chooses a signal provider with the most favourable profit-share ratio.

AvaTrade clients can access social trading on three platforms; Zulu Trade, Duplitrade and AvaSocial. This gives a lot of flexibility.

AvaSocial is a mobile app that has been developed by AvaTrade to facilitate social and copy trading. The app allows investors and strategy providers to chat and share insights in one-on-one chats. Users can also join market and strategy-specific channels.

AvaTrade At A Glance

🧾BrokerπŸŽ–AvaTrade (Founded 2006)
🌐 Websitewww.avatrade.com
βš–  RegulationFSCA, ASIC, CBI, CySEC
🎁Bonus20% welcome bonus
πŸ”₯Trust Score94%
πŸ”₯Live support24/5
πŸ“± Platforms MetaTrader 4 (MT4), MetaTrader 5 (MT5), AvaSocial, AvaOptions, AvaTrade Go, DupliTrade, ZuluTrade, WebTrader
πŸ“Š Trading Assets850+including Metals, Commodities, Stocks, FX Options, Oil, ETFs, Options, Cryptocurrencies, CFDs, Indexes, Shares, Spread Betting, Indices, Forex, Bonds
πŸ’° Spreads0,9 pips
πŸ‹οΈβ€β™€οΈ Leverage1:400, EU – 1:30 and 1:400 (Professional Accounts)
 Withdrawal fee amountZero
 Trading fees classVery Low
 πŸ’³ Minimum deposit$100
πŸ’΅ Account CurrenciesAUD, JPY, GBP, USD, EUR, CHF
πŸ“ˆ Scalping Allowedβœ”Yes
πŸš€ Open an accountπŸ‘‰ Click Here

Features Of AvaSocial Copy Trading

Social Trading:

AvaSocial allows traders to connect, interact, and share trading ideas. With AvaSocial, traders can learn from each other and discuss market strategies.

You can ask questions to your mentors or groups, and discover new and powerful strategies. AvaSocial helps you learn and grow by allowing you to question the analysis of other traders and even challenge their reasoning.

You can even create your own chat groups.

The app also allows you to receive continuous real-time updates about your friends and experienced traders on your newsfeed, see what they’re doing, then comment, share, like a trade or simply copy trading signals.

Copy Trading

AvaSocial allows you to automatically copy the trades of successful traders. Our review team found that with just a few clicks, you can choose the traders you want to follow and replicate their trades in real time.

This feature removes the need for manual execution of trades and allows you to profit from the expertise of top-performing traders.

Diverse Range of Instruments:

AvaSocial offers a wide array of financial instruments, including forex, stocks, commodities, cryptocurrencies, and indices that you can copy trade on. This diversity allows you to build a diversified portfolio and select traders based on their expertise in specific markets.


Rankings and Performance Analysis For A Wide Range Of Traders

AvaSocial has a transparent ranking system that showcases the performance of individual traders. You can access detailed statistics that will help you make informed decisions when selecting traders to follow and copy. These stats include:

  • historical performance
  • average profit
  • risk score
  • the number of copiers
  • length of strategy
  • preferred trading instruments

These features will allow you to choose from a pool of skilled traders.

Customizable Risk Management

With AvaSocial, you can set personalized risk parameters based on your risk tolerance and investment preferences. As a follower you can define the percentage of your account balance allocated to copying trades, set stop-loss levels, and manage your overall risk exposure.

Real-Time Trade Notifications

The platform provides instant notifications when a trader you follow opens or closes a trade. This ensures that you are promptly informed about any trading activity, allowing you to stay updated and make timely decisions.

For example, if your signal provider takes a trade you are not sure about you can close it as soon as you get the notification.

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On The Go Social Trading

AvaSocial app is available, for both Android and iOS. This ensures that you can access the platform anytime, anywhere.

Educational Resources & Support

AvaSocial has a lot of educational materials and resources to help you enhance your trading knowledge and skills. These resources include articles, tutorials, and webinars conducted by industry experts, providing valuable insights into various trading strategies and market analysis.

AvaSocial provides customer support services to assist users with any inquiries or technical issues they may encounter while using the platform. A dedicated support team is available to answer questions, provide guidance, and ensure users have a positive trading experience.

ava social copy trading

In addition to AvaSocial, AvaTrade also allows copy trading using two well-established platforms Duplitrade and Zulutrade.

Duplitrade: 

Duplitrade is a popular copy trading platform that works with the MT4 trading platform. With DupliTrade you can automatically copy the actions of expert traders (with proven histories) directly into your AvaTrade trading account.

However, you will have to deposit a minimum amount of 2,000 USD to access Duplitrade. Our review team found this to be way above the required minimum deposit and expensive compared to other similar brokers.

Zulutrade

ZuluTrade converts experienced traders’ recommendations and automatically executes the trades in your AvaTrade account while retaining complete control over your funds.

Moreover, as a follower, you can choose from many experienced and high-ranking traders with many followers. 

To open a copy trading account, you should click on β€œNew Account” and select Zulutrade as the trading platform.

How To Start Trading With AvaSocial

Our team found that it is easy to get started with AvaSocial.

  1. Register a live account on AvaTrade.
    You will need this account to connect to Avasocial.
    Go to the AvaTrade account sign-up page and enter your email and password. Click on ”Register” or ”Create Account”.
  2. Enter your details
    Over the next pages enter your details including your name, surname, phone number and address. You will also have to enter your financial details. Then accept the terms and conditions.
  3. Verify your email and log in to your dashboard
    Open your email and verify it by clicking on the message sent from AvaTrade. Log in to your account dashboard using the email address and password you chose in the first step above.
  4. Download AvaSocial from the Apple or Android app store
    Visit the AvaSocial download page here and choose the app version for your device.
  5. Create your social and copy trading account
    Launch the app and choose the option to create your profile. Enter your details and agree to the terms and conditions. You will then be asked to log in to your account. After logging in you will see a list of signal providers.
  6. Choose a trader to copy and link your live account
    Click on a trader to get more information about them and click ‘Copy‘ to start following them. You will then be asked to link your account. Enter the details of your AvaTrade live account and the account will be linked.
  7. Deposit money into your trading account and start copy trading

You can use any of the AvaTrade account live account types to do copy trading.

Pros And Cons Of AvaTrade Copy Trading

Pros

  • Simple and user-friendly: The Avasocial app is easy to use and navigate even for beginners.
  • Diversification: Avasocial copy trading can help you diversify your portfolio by following a variety of different traders trading different instruments with different strategies
  • Accessibility: Avasocial copy trading is available to anyone, regardless of their experience or trading skills.
  • Convenience: Avasocial copy trading is a hands-off approach to trading, which means that you don't have to spend hours researching and analyzing the markets.
  • Passive income: Avasocial copy trading can be a source of passive income, as you can earn profits from the trades of other traders without having to do any work yourself.
  • Learning opportunity: You can learn a lot about trading by interacting with expert traders and copying their trades on AvaSocial
  • Time-saving: AvaTrade copy trading saves time as it eliminates the need for extensive market research and analysis. Traders can simply select successful traders to copy and let the platform execute the trades automatically.

Cons

  • Risk: There is always risk involved in trading, and Avasocial copy trading is no exception. You can lose money if you follow the wrong traders.
  • Lack of control: With Avasocial copy trading, you have no control over the trades that are executed on your behalf.
  • Fees: You have to pay a portion of your profits to the strategy provider as compensation
  • Over-dependence: May lead to over-dependence on other traders
  • Low number of participants: Ava Social has a low number of signal providers and followers

Other Copy Trading Platforms You May Want To Check Out

How much does AvaTrade copy trading cost?

AvaTrade does not charge any additional fees for copy trading services on its proprietary platform AvaSocial and with third-party providers. Clients pay the usual spread in correspondence with the conditions of their trading plan. Commissions on AvaTrade are average. In particular, the typical spread in the EURUSD pair is 0.9 pips.

You will only have to pay a portion of your profits to the signal provider.

roboforex Copy Trading

How To Choose The Best Traders To Copy On AvaSocial

Before you start following any traders, make sure you do your research and understand their trading style and track record. The following tips can help you find the best strategy provider for you on AvaTrade copy trading.

The strategy provider should:

  • Have a track record of at least 3 months.
  • Have maintained a positive profit margin in the recent past.
  • Have a small maximum drawdown.
  • Not trade extremely large lot sizes.
  • Maintain a certain amount of money in his account.

FAQs On AvaSocial Copy Trading

What is AvaSocial Copy Trading?

AvaSocial Copy Trading is a feature provided by AvaTrade, a popular online trading platform. It allows users to automatically copy the trades and investment decisions of successful traders in real-time. It provides an opportunity for beginners or busy individuals to engage in trading without extensive market knowledge or time commitment.

How does Ava Social Copy Trading work?

Ava Social Copy Trading works by connecting traders and investors on the AvaTrade platform. Investors can browse through the profiles of various traders, analyze their performance, and choose to copy the trades of those they find promising. When a copied trader executes a trade, the same trade is automatically replicated in the investor's account.

Can I make money by copying traders on AvaTrade?

Yes, you can make money on AvaSocial. However, you will need to choose the best traders to copy, monitor your trades and use risk management tools

What is the minimum deposit required for AvaSocial copy trading?

The minimum deposit required for AvaSocial copy trading is $100.

What types of markets can I trade with AvaSocial copy trading?

You can trade a variety of markets with AvaSocial copy trading, including forex, CFDs, commodities, and indices.

What are the benefits of Ava Social Copy Trading?

Ava Social Copy Trading offers several benefits, including the ability to access the expertise of successful traders, time-saving by eliminating the need for extensive market research, educational opportunities for novice traders, and the potential for portfolio diversification.

Is Ava Social Copy Trading suitable for beginners?

Yes, Ava Social Copy Trading can be suitable for beginners as it allows them to participate in the financial markets without extensive knowledge or experience. By copying the trades of successful traders, beginners can potentially learn from their strategies and gain exposure to the markets

What risks are associated with Ava Social Copy Trading?

Like any form of trading, Ava Social Copy Trading carries risks. Investors should be aware that even successful traders can experience losses, and copying their trades does not guarantee profits. Additionally, technical issues, system failures, and poor performance by the copied traders can impact results.

See Also

The Best Copy Trading Platforms

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