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Best Copy Trading: JustMarkets vs AvaTrade
“Everything Is Relative” is the best idiom to describe the best way of choosing a broker. All of them have their strengths and weaknesses, so today, we will compare a couple of brokerage companies to find out which suits your strategy and needs better.
But this article is quite special because we will focus on the JustMarkets and AvaTrade copy trading options and see what each company offers.
What is copy trading?
Copy trading is a handy option for everyone, both newbie traders and professionals. Moreover, there are 2 types of this kind of trading, which are similar but have some important differences, so you should know how to differentiate these two concepts.
Copy trading and social trading.
Copy trading is a system that allows you to replicate the strategies of another trader automatically. However, to do this, your account must be tied to the trader’s account whose strategies you want to copy. So, this is a passive process of following experts or more advanced investors without significantly influencing the result.
Social trading allows you to copy strategies, communicate with the community, share insights, and learn from experts, taking only profitable strategies from them.
In brief, copy trading will suit people who want a more passive way of replication. Meanwhile, social trading is suitable for those who wish to learn info from the community and then use customized strategies in the future.
Benefits of copy-trading for beginners and experienced traders.
At first glance, it might seem like this method is suitable only for beginners, and it is actually perfect for them, but let’s find out how it could help all levels.
Beginners can use replication to get a quick start in trading while learning how to create their own strategies. Advanced traders can follow other traders to enhance their field of expertise in other instruments, or, obviously, they can become copy traders, share their own trading strategies and profit from them.
JustMarkets Copy Trading
JustMarkets overview: Main features and advantages.
JustMarkets is a multi-asset CFD broker with 260+ trading instruments. They have been in the market for 12 years and currently have 50+ Awards and 2+ million traders.
Let’s glance a bit deeper:
- 6 possible accounts: Standard, Pro, Raw Spread, Standard Cent, Demo + Islamic option.
- Swap-free option for all accounts.
- MT4/5 are available.
- Tight Spreads: Starts from 0 pips.
- Instant Withdrawals from their side, but it’s possible that delays may occur from the bank side.
- UX-friendly mobile application.
- 24/7 Customer support.
- Licensed and regulated by many international authorities.
This is not a detailed list of the main conditions that JustMarkets offers, but even with this, we can summarize that JustMarkets is a trustable CFD broker according to 2,665 reviews on Trustpilot, international recognition, and licensing. They have user-friendly services, which will be convenient for novices and seasoned traders. Overall, trading conditions are also pretty competitive and fair: tight spreads, flexible leverage, and swap-free options.
Features and capabilities of copy trading on the JustMarkets platform.
JustMarkets has a separate application for copy trading. However, before we discuss it, let’s observe what a web version offers us.
Leaderboard
Leaderboard is a page that you can check even without registration. There, you can review various traders’ strategies and choose whose strategy you want to copy. So, it’s possible to customize the search by the following filters: Trader’s level of experience, minimum investment amount (USD), popularity, and period. This option helps you choose the best forex copy traders.
Application
This application is very useful and user-friendly. You can easily copy other people’s strategies or share your own. You can also download and use all features with 0 commissions for a 7-day trial.
AvaTrade Copy Trading
Overview of AvaTrade: Main features and advantages.
Let’s dive into the AvaTrade review.
AvaTrade is a Forex and CFD broker founded in 2006. It has received many awards that recognize its credibility. It offers a wide range of trading instruments and opportunities to grow your trading expertise.
- A diverse range of account types, including demo and Islamic accounts.
- Free withdrawal.
- Easy account opening.
- Has a user-friendly mobile application, but only English is covered.
- Negative balance protection.
- Low forex fees.
- Instant execution.
- Licenses and regulations from many international authorities.
Features and capabilities of copy trading on the AvaTrade platform.
AvaTrade offers different options to copy traders’ strategies.
First of all, you can do it through 2 services: ZuluTrade and MQL5. These 2 platforms securely provide signals.
Another possible option is an application called AvaSocial, which provides a mix of social trading and copy trading. It means that you can easily copy the strategies of other traders but also communicate with them, making your replications semi-automated.
Comparative Analysis
Available features and tools.
JustMarkets | AvaTrade | |
MT4/MT5 platforms | Yes | Yes |
Copy Trading | Yes | Yes |
Bonuses and Promotions | Yes | Yes |
Regulation | Yes | Yes |
Automated Trading | Yes | Yes |
Swap-free | For all accounts | Only for Islamic Accounts |
Costs and commissions.
JustMarkets | AvaTrade | |
Withdrawal fee | $0 | $0 |
Inactivity fee | $0 | $0 |
Minimum Standard Spreads | From 0.3 pips | From 0.9 pips |
Minimum Deposit | $10 | $100 |
Inactivity Fee | $0 | $50 after 3 inactive months, every 3 months |
*Some of this data may vary depending on your currency and account type.
Customer support and educational resources
Reliable brokers depend on traders’ success because the more traders profit, the more brokers can potentially gain. That’s why all good brokers take care of their education courses and customer support.
So, let’s look closer at what each broker offers.
JustMarkets | |
Customer Support | Educational resources |
Availability: 24/7 | Daily updates: Market Overview, Daily Forecast. |
Six languages: English, Indonesian, Malaysian, Spanish, Portuguese, Vietnamese. | Forex Glossary |
Contact via emails, phone numbers, and multiple messengers. | Educational videos |
Forex articles | |
Online webinars | |
Economic calendar | |
AvaTrade | |
Customer Support | Educational resources |
Contact via emails, phone numbers, and multiple messengers. | Market terms |
Many local numbers in different continents. | Trading for Beginners |
Cryptocurrency trading support available 24/7 | Tutorials and webinars |
Other support is open from Sunday 21:00 GMT to Friday 21:00 GMT. | Technical analysis |
Trading strategies | |
FAQ
There are no special restrictions or limitations on copy trading. But you should note that the more strategies you copy, the more additional deposits you need to make. In the case of JustMarkets copy trading, you can try their risk-free 7-day trial. Generally, trading is risky in any context, but if you are a complete beginner, you can try someone else’s strategy, which may help you avoid your mistakes.
Copy trading requires opening an account in the brokerage company. Minimum deposit to do this is $10 for JustMarkets and $100 for AvaTrade.
JustMarkets does not charge any commission for themselves; traders pay commission only to the traders whose strategies they copy.