There is essentially no guitar that is "bad" for metal... as long as it feels good in your hands and your hands fit the neck and it has the right set of pickups in it, any guitar can be made to work as a "metal" guitar.
The pickups, your amp, and your speakers are far more important in terms of getting a good metal tone than even the quality of the wood itself - sure, good wood doesn't hurt, but the more gain you add to a tone, the less obvious the subtle characteristics become.
I gave a thumbs' down to everyone who suggested Dean or BC Rich. Unless you buy the higher price point products in these companies lines, you're buying guitars that might look pretty cool, but have crap quality for hardware and pickups *in general*. For BC Rich especially, I point to their low-quality agathis wood bodies (poor sustain, poor tone in general), the soft hardware (causes burrs in the bridge, which leads to string breaking), and poor quality trems, both vintage and floating.
*Can* they work? Sure. Are they any good from a quality perspective? Not in my opinion.
Far better choices would be Ibanez, Jackson, LTD, Epiphone, and yes, even Squier. All of these brands have lower price-point guitars that are pretty decent for the most part. I have a couple of LTD's, and for the price they are some of the best guitars I've ever owned. I also have a Jackson Dinky, and although it doesn't have the low end that I favor, it sits well in the mix and is great for leads/lead guitar.
Who says that Strats are bad for metal? Maybe you should talk to Yngwie Malmsteen or what's his nut from Slipknot. Mick? Something like that. They rock the Strats - and like all great metal bands, they get their tone more from their fingers, amps, speakers, and pickups than the guitar per se.
So anyways, I guess what I'm saying is that the most important considerations are going to be how the neck feels for you, the basic tone of the guitar, and the quality of the hardware moreso than anything else.... mostly because you can, and really should, swap everything else out eventually.
Stock pickups blow, so swap 'em out with something better. I put a Seymour Duncan JB into my Jackson Dinky... thought it was pretty sweet... then a set of Dragonfire Actives (cheapo active pups) into my LTD EC-50, and was happy with the distorted tone (its now my "metal" guitar).... then put a combination of an SD Alnico II Pro in the neck and an Alternative 8 in the bridge of my LTD EC-100QM, and totally just fell in love - similar chime as the JB, but less high end and a tighter low end, so much better for rhythm. Coupled with a 1Mohm pot, that Alt 8 just chunks it out with the best, and has great cleans besides....
I put a buffer amp into every guitar I own, as well. They're not terribly hard to make if you're handy with a soldering iron and can read a schematic, but I like my local guitar shop's work better than mine (its prettier!) so I had them do it for me.... in every instance it lowers noise and keeps long runs or cheap quality cable from sucking my tone.... good times.....
I would invest as much money as I could into a good amp first, as even a crappy guitar will sound better through a good amp than a great guitar will sound through a crappy amp.
Try it! Go to Guitar Center and play a 2k$ Gibson through a Line 6 15 watt amp, then play a 300$ Ibanez or whatnot through a 2k$ Marshall JVM... if you can figure out how to dial it in, that is... the difference should be immediately obvious!
Saul