Gemini or AAATrade – which is better for UK traders 2024? Compare Gemini and AAATrade in this detailed breakdown of their platforms, features and fees.
Gemini is a cryptocurrency exchange set up in 2014 by the Winklevoss brothers, known for their early involvement in Facebook. The exchange is among the world’s 20 largest and most popular. Gemini clients can trade and stake 110+ cryptocurrencies, with derivatives trading available in some jurisdictions, an advanced proprietary platform and additional features including an NFT marketplace.
AAATrade is a forex and CFD broker established in 2013 and regulated by CySEC. The STP broker offers tens of thousands of Stocks, ETFs, CFDs, securities and cryptocurrency products on the proprietary and MetaTrader platforms. Traders can benefit from standard retail accounts as well as portfolio management and advisory services.
Pros
The trading app features a user-friendly, modern design and intuitive interface, with an excellent range of charting tools for traders
The TradingView integration delivers top-quality tools, including backtesting and algo trading capabilities
The exchange ensures high security standards with 2FA a requirement for all crypto investors
Crypto perpetual futures are available in many jurisdictions with up to 1:100 leverage
There is a decent range of educational guides and tutorials suitable for beginners
I was glad to see commission-free trading available in the Novice account, though seasoned traders can also benefit from low commissions from 0.125% in the Experienced account
There's a good range of trading platforms, including the new AAATrader™ and MT5 mobile app. I particularly appreciated the broker's in-house crypto exchange platform
I feel assured the AAATrade is regulated by tier-1 authority, the CySEC and is also a member of the Investor Compensation Fund (ICF)
I like that there is no minimum deposit for both the Novice and Experienced Accounts, making the broker accessible for all traders
I was very impressed to find a $100,000 demo account available with free access to webinars and forex education
Cons
The exchange has a history of concerning incidents including the collapse of its Earn program and a phishing breach
The 'convenience fee' for using the mobile app seems arbitrary and makes it inefficient to use this feature
There are high fees for some funding methods including a 3.49% fee for card transactions
Some larger coins by market cap are not available to buy through Gemini
There is no practice profile or demo account for prospective traders
I'm a little disappointed that fees charged on deposits, which puts the broker behind most competitors offering free deposits
Crypto trading does not have the same protection or regulation as other markets, though this is industry standard
Awards
Best Cryptocurrency Exchange 2019 - Markets Choice Awards
During my tests, I found thousands of leveraged CFD products across forex, indices, commodities, stocks and cryptocurrencies. Commissions are competitive and I particularly enjoyed using all the free CFD trading resources available in the demo account.
Leverage
1:200
FTSE Spread
0.5
GBPUSD Spread<
0.00002
Oil Spread
0.10
Stocks Spread
Floating
Forex
AAATrade offers 80+ forex pairs, including majors and minors, which is a competitive range and more than most brokers I have reviewed. I was also able to take advantage of the broker's daily technical insights with chart analysis, as well as the live economic calendar.
Assets
10000+
GBPUSD Spread
0.00002
EURUSD Spread
0.00002
EURGBP Spread
0.00002
Cryptocurrency
Gemini offers a relatively small range of 110+ cryptocurrencies on its exchange, which is anchored by the native Gemini Dollar stablecoin, as well as perpetual swap derivatives. The powerful ActiveTrader platform is optimized for online trading, delivering a wide range of technical indicators and up to 7 time frames.
I was impressed with AAATrade's range of 50 cryptocurrencies, including Bitcoin and Ethereum, which is more than most brokers I review. I was particularly glad to see a good mix of crypto-crypto pairs, as well as some crypto-fiat pairs against USD and EUR.