Crypto currency trading brokers
Nadex is a CFTC regulated broker. In fact, this is probably the only US broker that has this regulation.
Top forex bonus list
- Etoro – $200
- Plus500 – $100
- Avatrade – $100
Best cryptocurrency brokers for 2021
Daniel ‘harris’ major
I have tested 40+ crypto brokers. You can find the best cryptocurrency brokers below. This is by far the easiest way to get started with cryptocurrencies.
Cryptocurrency trading has become really popular in the past years. It’s growing more ever year.
Many big trading brokers have already added some of these cryptocurrencies. Everybody can sign up and start trading bitcoin or other crypto coins. This is the easiest and probably the simplest way to invest in cryptocurrency.
After trying out most brokers, here are the best cryptocurrency brokers:
Best cryptocurrency brokers (non-US traders only)
Plus500 – top rated trading platform
Plus500 is a big name in the trading industry. They have a really low minimum deposit requirement and a great trading site.
Buy/sell cfds on bitcoin in addition to buying stocks, commodities, forex etc (traded only through cfds). Plus500 is the most complete trading platform.
- Trade cfds on bitcoin & many other cryptos
- Minimum deposit is only $100
- Regulated and trusted platform
- Very fast signup process
- Live chat
- Many payment methods (even paypal)
- You cannot withdraw any cryptocurrency
- You have to complete a questionnaire, upon sign up
Plus500 disclaimer: 76.4% of retail CFD accounts lose money.
IQ option – lowest minimum deposit ($10)
If you don’t want to make a huge initial investment, then IQ option is the best broker for you. The minimum deposit requirement is only $10. This is by far the lowest in the industry.
- You can trade many cryptocurrencies
- Minimum deposit is only $10
- Best trading platform
- Multiple account currencies
- Free demo account
- Regulated by CYSEC (#247/14)
Etoro – top crypto broker
Etoro is a really popular trading site. They have been around since 2006. Etoro is regulated by CYSEC, FCA and ASIC.
Buy/sell bitcoin on etoro in addition to buying stocks, commodities, forex etc. Etoro is the most complete trading platform.
- Trade bitcoin & many other cryptos
- Minimum deposit is $200
- Regulated and trusted platform
- Australian traders are also accepted
- Great support team
- Many payment methods (even paypal)
- You cannot withdraw any cryptocurrency
- You have to complete a questionnaire, upon sign up
Etoro disclaimer: 71% of retail CFD accounts lose money.
Highlow – best all-round crypto broker
Due to regulation highlow stopped accepting traders from the EU and UK.
Highlow is an australian trading broker (AFSL no.364264). What I like most about this broker is the intuitive platform. It is so easy to use. Especially new traders will like the clean layout.
I’ve been using highlow for a few years now and I never had a problem. Highlow publishes their number of trades on the homepage. There are millions of trades on this broker each month.
I use the main platform which is web based. This means, that you don’t have to download any software. This platform is stable and safe (they use SSL).
I have also tried the ios app and the android app. They are great, but I just don’t like trading on smartphones in general.
The payouts on highlow are amazing (up to 200%, which is more than on other brokers).
Highlow is a great broker for cryptocurrencies (but only if you are not from EU,UK, US). They have a good reputation, great support team and awesome promotions for new traders.
- Trade bitcoin & other cryptos
- Minimum deposit is only $50
- Regulated and trusted platform
- Fastest signup process (no questionnaires)
- Multiple account currencies
- Free demo account (no registration needed)
Nadex – US traders welcome
Nadex is a CFTC regulated broker. In fact, this is probably the only US broker that has this regulation.
Only US traders are allowed on nadex. Non-US traders check out the next broker.
Update OCTOBER 2019: looks like nadex removed crypto trading. After contacting them I found out that they will add it back soon. Register on nadex now and get updated when they add it.
Recently, nadex started offering bitcoin trading.
- Trade bitcoin, forex or binary options
- Minimum deposit is $250
- CFTC regulated broker
- Great support team
- Many payment methods (even paypal)
Crypto brokers with most cryptocurrencies
Here are the most popular cryptocurrencies offered by cryptocurrency brokers:
- Etoro – bitcoin, ethereum, litecoin, dash, ethereum classic, NEO and ripple.
- Plus500 – bitcoin, ethereum, litecoin, bitcoin cash, ripple, IOTA.
- Avatrade – bitcoin, ethereum, ethereum classic, ripple, dash, bitcoin cash litecoin, monero and NEO.
Lowest minimum deposit brokers
These are the best brokers with low minimum deposit requirements:
- Etoro – $200
- Plus500 – $100
- Avatrade – $100
This is really important because the crypto market itself is unregulated. Depositing on a regulated broker means that your money is safe.
We’ve also looked at the support team and the payment methods. You can deposit easily using multiple payment methods on the brokers below.
Top rated brokers that have cryptocurrencies
While we are all familiar with the broad definition of a broker, is there something more to it when it comes to cryptocurrencies?
Simply put, a cryptocurrency broker refers to a website that traders will visit to trade cryptocurrencies at a set price. In many ways, they are similar to forex brokers whose services are a lot more familiar to the general public.
Etoro disclaimer: 71% of retail CFD accounts lose money.
You still can’t decide which broker is best for you?
How to choose your cryptocurrency broker
Is leverage really necessary? Cryptocurrency markets are volatile in nature with prices fluctuating immensely thereby generating high profits even in the absence of leverage. But for some traders, the desire for more earnings justifies the use of leverage.
Before choosing your broker, settle yourself on whether the already immense profits that come from a cryptocurrency market are enough for you or you would like to use leverage to enhance them even further, bearing in mind, of course, that will also significantly increase the risk factor to your funds.
Negative balance protection: it is always advisable to trade with a broker that affords the negative balance protection facility. That way, you will never be at risk of losing more than what you invested in case you sustain very heavy losses.
How suitable is the required capital for you? This is another subjective part to your decision. Do you prefer trading with a small capital or bigger one to help you zero in on bigger returns? Find out what size trades your broker is offering before you open an account.
Narrow spreads for the win: let us be honest, it is only fair that your broker gets a cut from the money you generated having provided you with the essential facilities for it and all. But let us be honest, you definitely want every last dime for yourself.
A spread refers to the difference between the buying price and selling price of a trade and it varies with each broker. The spread is what counts as fees for your broker so the smaller it is, the lower the cost will be on your part.
Lets go into what aspects you as a trader must consider when choosing a broker to trade cryptocurrencies.
Which cryptocurrencies are you interested in trading?
Make sure you have decided on which cryptocurrencies you want to trade in before signing up with your broker.
If your choice is a prominent cryptocurrency like bitcoin (official site), litecoin (official site), or ethereum(official site), there will be a relatively broad availability of brokers that have trading options for those. However, less prevalent examples like monero, IOTA, or zcash may be a little harder to come by.
So study the cryptocurrencies being offered by a broker before you sign up for an account.
Pros and cons of cryptocurrency brokers
Here are some features that these broker have or don’t:
pros
- Signup up with a crypto broker is probably the fastest way to get started with cryptocurrency trading
- If you are less tech-savvy then a broker is safer for you
- You can start buying cryptocurrency while traditional exchanges don’t always accept this payment method
- Most of the time you can’t withdraw cryptocurrencies from a broker. You have to exchange it back to fiat money (USD/EUR etc.)
Cryptocurrency brokers – what to look for
Here are some of the more understated details about your cryptocurrency broker that could make your trading experiences so much more efficient and successful.
1. What are the weekend hours like?
This is a key detail that distinguishes cryptocurrencies from other prominent trading markets like forex, futures, and equity. Cryptocurrency brokers operate during the weekends as well.
There is virtually no difference in purchasing bitcoin at the end of the week as opposed to the middle of the week during peak hours.
But there is a catch. While digital currency exchanges are available during the weekend, your broker may not (why is the stock market closed on the weekend?). So in effect, if there is considerable movement within your relevant cryptocurrency market during a weekend when your broker is not operating, you may not have the ability to respond in any way.
2. How is it hedging?
Your broker is probably not keen on revealing if it is hedging cryptocurrency traders but it is important information for you to know.
Why is it so important for you to know?
Because, as a trader, you want to be absolutely in the clear regarding the policies for risk management being followed by your broker. Let us not forget that cryptocurrency markets are extremely volatile and an unhedged broker is more easily prone to major losses incurred by its clients. Naturally, those costs will warrant compensation via fatter spreads and additional costs for traders. It will be best to sign up with a broker that will not withhold the relevant information from you.
More great features you could be interested in
Commissions and trading on margin – an important thing to note while trading cryptocurrencies is that their prices tend to be more similar to equities than they are to real currencies. So your broker could be charging you commissions in addition to a wide spread on each trade. That, of course, raises the cost probably a bit much for your liking.
Another similarity with equities is that the margin conditions with cryptocurrencies are significantly more than they are with forex or cfds. Consequently, leverage is usually up to 10x. How considerable the margin rate will be for traders is down to what trading strategies and risk management they subscribe to.
Authenticity of market data – aside from merely evaluating how it influences spreads, market data for cryptocurrency CFD prices can be a good indicator of how the quality of the product will be in the future.
One of the more recent examples of this is BTC-e which was an immensely popular platform for trading bitcoin before it was shut down by feds. BTC-e was the first bitcoin exchange to incorporate forex trades and so made their exchange accessible via MT4 and supplied cryptocurrency liquidity for brokers.
But once it was shut down, every broker that depended squarely upon BTC-e was left with no hedging options or market data to put a price on its crypto cfds.
Are short sales available? For many traders, shorting is a crucial strategy option, the lack of which can be a deal breaker with a potential broker. Many brokers tend to offer ‘long’ only since there are only a few hedging solutions when opening short trades.
As you see, investing in cryptocurrencies can be a truly lucrative venture for you but only if you get it right.
And a lot of that is down to which broker you decide to trade with.
Ready to start trading?
Trade with the cryptocurrency brokers listed above to make sure that your money is safe, you pick a broker with a stellar reputation and you keep the fees low. Excel at trading bitcoin by creating your own trading strategy.
These cryptocurrency brokers make it really easy to trade bitcoin and other coins. You don’t have to be a trading expert. It helps if you know what a blockchain is or how the ledger and transactions work, but this is all optional.
Sign up now and see for yourself how easy it is to get started.
Top cryptocurrency brokers for 2021
We found 11 online brokers that are appropriate for trading cryptocurrency.
Best cryptocurrency brokers guide
Are you interested in investing in cryptocurrency?
If the answer to this is a yes, then you will need to find the right cryptocurrencies brokers whocan accommodate you with the best facilities to trade on the cryptocurrency markets.
Before proceeding, lets cover the real definition of cryptocurrency.
Defining cryptocurrencies
In short, cryptocurrencies are digital or virtual currencies.
These currencies are reliant on cryptography to ensure the security and verification of each digital transaction.
Cryptography can control the number of units and prevent the change of code of the cryptocurrency unless some conditions are met.
The important characteristics of the cryptocurrencies
For some people, cryptocurrencies are the savior of the economy. This is because these can give the perks that not all banks or other financial institutions can provide.
Here are the unique characteristics of the cryptocurrencies which you cannot find in the conventional means of transactions.
No third party involved
There will not be third parties like financial institutions, governments, or any other third party organizations which govern the transactions between you and your recipients, and vice versa.
There is no third party that will intervene in your transaction. And it is a win-win solution with the P2P or peer to peer network. You can send cryptocurrencies through the P2P network and the other users will also be able to do the same for you.
Cryptocurrencies have more transparency
The problem with the conventional transactions is that one can ask for a refund and this will procure such unfortunate things to only one party.
As an example if your buyer has sent you a payment and you have delivered the goods but before the goods reach their destination, your buyer reverses the transaction your result could be that you will not receive the money you are owed and your buyer may have lead you.
You can avoid this issue with the cryptocurrencies transactions as these transactions are irreversible.
Not a single party can alter your transactions and this is why it can offer you more transparent transactions than the conventional fiat currencies.
Decentralized
There is no centralized place to transact at all so you can eliminate the high rates of fees when transferring money.
The cryptocurrency is maintained through the ledger technology called the blockchain. The blockchain prevents all other entities from tarnishing the data. Not a single person can alter the system so that your transactions will be safe and sound. We will discuss blockchain next.
Blockchain definition
Blockchain is bitcoin technology comes in the list of recorded data blocks, which are gathered by cryptography.
The recorded data in the blockchain is referred to as ledger. When there is a new data exchange, usually a transaction, a new block is added to the ledger or the blockchain.
In summary, the blockchain or ledger contains important information.
Cryptocurrency brokers
The era of virtual coin is upon us and is paving a golden path for traders. When trading cryptocurrency it is important to trade through reputable cryptocurrency brokers.
We list some notable cryptocurrency brokers below:
Etoro - being one of the top-rated cryptocurrency brokers it offers several currencies including ethereum, ripple, bitcoin and dash.
XTB - XTB too has a good name among traders and offers a wide range of such virtual currencies including litcoin, ethereum and bitcoin. It is placed as one of the top 5 cryptocurrency brokers in the industry.
Plus500 - it offers crypto throughout the day and night with good leverage for the most popular currencies like litecoin, ripple, neo, ethereum and bitcoin.
What is cryptocurrency?
Cryptocurrency is a virtual coin and is traded on cryptocurrency exchanges through cryptocurrency brokers.
Lately, cryptocurrency has continued to gain popularity. This has opened up lots of new trading tools and ways to trade including contracts for difference (CFD). They earn from the difference between the cost of an asset at the present time and what value it could become in the future.
Cryptocurrency wallets
Similar to other wallets this too facilitates storing, sending and receiving the currency. We explain the three types of cryptocurrency wallet below:
The hardware wallet
The hardware wallet is the most secure crypto wallet as all the data is stored offline. A few of the good examples are trezor, keepkey and ledger nano S.
The paper wallet
A paper cryptocurrency wallet is popular and it is secure. However, it is not as convenient as the hardware wallet.
The software wallet
The software wallet is the most conveniant among the three and can be managed from a desktop or mobile phone device. Some of the cryptocurrency wallets of note are exodus, jaxx and electrum.
Cryptocurrency exchanges
A cryptocurrency exchange is a place where buyers and sellers meet for the purpose of buying, selling or trading the virtual coins with the help of couple of cryptocurrency brokers.
Binance exchange is the most famous cryptocurrency exchange in the world and it offers crypto to crypto trading.
Combase is popular too and it offers trading on 100s and 1,000s of virtual currencies like litecoin, ethereum classic and bitcoin.
Localbitcoins, on the other hand, offers over-the- counter trading of virtual coins. Traders can post a currency for sale on its websites mentioning the rate and payment methods.
ICO and token
Abbreviated for initial coin offering the ICO is a kind of fundraising for a start-up. It is done by selling underlying tokens against ethereum or bitcoin.
ICO is similar to IPO in which traders buy company shares. Investors take an entry at early stage of the project and so are capable of making a profit with the success of the company.
However, one basic difference between the two is that any person from any place in the world can take part in the ICO.
Token meanwhile is a kind of cryptocurrency too but represents a specific asset. It is sometimes used as loyalty points that can be redeemed against discounts. It can also represent something uncommon like one token is 5 bitcoins.
The cryptocurrency mining
Just a little different with the fiat currencies, the cryptocurrencies are usually mined by miners. So, there is a phrase to describe the activity as the cryptocurrency mining.
To define it, it is a process in which the miners use powerful resources, in this case computers and adequate hardware to solve mathematical problems. These complicated problems need to be solved in order to attain the rewards.
To make it more challenging, these mathematical problems have cryptographic hash functions which are linked to the block which contains the information of the transaction.
These mathematical problems are tempted to solve with multiple miners.
So, when figuring out solutions for the problems, miners are competing with other cryptocurrency miners. It is about winning and losing. The winners will get small amounts of cryptocurrency.
The reward comes from the transaction fees the users pay. At least that is how major cryptocurrencies conduct and the other factor which also gives the rewards to the miner is the release of new cryptocurrency.
Cryptocurrency wallet
The cryptocurrency wallet is a digital wallet which the users use to deposit, store, hold, send, and receive digital currency or cryptocurrency.
Do not mistake it with concepts like paypal, payza, or various other digital currency systems. The crypto wallets do not serve as the storage of the cryptocurrency. The wallets only store the information in the form of public and private keys.
Meanwhile, the crypto itself is inside the blockchain. The users do not necessarily store their cryptocurrencies in their wallet. In summary, the cryptocurrencies wallet stores the important information which you can use to access your crypto assets.
Cryptocurrency exchange
When you have the cryptocurrencies assets, you may want to sell it to other users or, you could want to trade the cryptocurrencies. Here is where you will need to use a cryptocurrency exchange.
The cryptocurrency exchange is a platform which allows the users to buy, sell, or trade the cryptocurrencies.
Some exchanges only provide crypto-to-crypto trades, but some also allow the crossover currencies so that you can trade from crypto to fiat or fiat to crypto.
There are many cryptocurrencies exchanges that you can find on the internet. Some of them offer the trades for common cryptos such as BTC, ETH, BNB, USDT, and so on. But some also offer more wider array of currencies exchange.
Cryptocurrency brokers verdict
In current times, it is not exaggerating to say that cryptocurrency is the most volatile asset class that you can find.
It is due to the fact that it comes with the high speculative market not to mention that it currently disrupts the conventional economy so that many established players don�t see it to have inherent value.
Therefore, it is still safe to use the cryptocurrencies but in addition to fiat currencies.
We've collected thousands of datapoints and written a guide to help you find the best cryptocurrency brokers for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best cryptocurrency brokers below. You can go straight to the broker list here.
Reputable cryptocurrency brokers checklist
There are a number of important factors to consider when picking an online cryptocurrency trading brokerage.
- Check your cryptocurrency broker has a history of at least 2 years.
- Check your cryptocurrency broker has a reasonable sized customer support of at least 15.
- Does the cryptocurrency broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
- Check your cryptocurrency broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
- Does your cryptocurrency broker have an international presence in multiple countries. This includes local seminar presentations and training.
- Make sure your cryptocurrency can hire people from various locations in the world who can better communicate in your local language.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
Our brokerage comparison table below allows you to compare the below features for brokers offering cryptocurrency brokers.
We compare these features to make it easier for you to make a more informed choice.
- Minimum deposit to open an account.
- Available funding methods for the below cryptocurrency brokers.
- What you are able to trade with each brokerage.
- Trading platforms offered by these brokers.
- Spread type (if applicable) for each brokerage.
- Customer support levels offered.
- We show if each brokerage offers micro, standard, VIP and islamic accounts.
Top 15 cryptocurrency brokers of 2021 compared
Here are the top cryptocurrency brokers.
Compare cryptocurrency brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are cryptocurrency brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more cryptocurrency brokers that accept cryptocurrency clients
The best brokers for crypto trading in 2021
Choosing the best forex brokers for crypto trading in 2020 can be difficult. Have you found yourself inundated with brokers promising you the ‘greatest’ cryptocurrency trading experience possible?
The excellent news is that our experts are here to help. We’ve done all the hard work for you. By testing and reviewing hundreds of cryptocurrency brokers, we’ve managed to create a complete list of only the very best. Any broker you choose from our list of best cryptocurrency brokers will be safe and reputable. They also all offer plenty of cryptocurrency trading opportunities, fair fees, and proficient platforms.
This page also provides you with expert advice on crypto trading, to ensure that you have all the information you need to get started. Check out our list of the best forex brokers for crypto trading below or read on to learn more about:
- How we choose the best cryptocurrency brokers
- How to claim cryptocurrency trading bonuses
- Which are the best crypto trading platforms
- How to trade cryptocurrencies on mobile
The best crypto brokers for 2020
How we find the best brokers for crypto trading
To find the best brokers for crypto trading, our team of experts has developed a rigorous review methodology based on many years of professional experience.
Our unique approach comprises analyzing 200 points across 10 key categories for each broker. We look at everything from licensing and a broker’s reputation to the quality of educational materials they offer and the fees they charge.
We understand that not every category holds the same weight for an impressive trading experience, which is why we assign each a different level of importance when calculating the final score. For example, licensing and regulation contribute far more to the score than educational materials.
When analyzing brokers for cryptocurrency trading, we also look at features important to you as a crypto trader, such as:
- Extensive crypto pairs and CFD options
We look for brokers who offer you a variety of crypto trading options, such as being able to trade crypto coins against other crypto coins, like the BTC/XRP, cryptos against fiat currencies, like BTC/USD, and cryptos against commodities, like BTC/gold.
Our top brokers also allow you to trade crypto cfds and provide opportunities to make physical crypto trades too. With physical crypto trading, you’ll be able to buy cryptocurrency coins and sell them at a later date.
- A wide range of different coins
The best forex brokers for crypto trading must offer a variety of coins for you to trade. We look for brokers who offer the most popular coins, including bitcoin, ripple, ethereum, litecoin, and so on.
We also check to make sure they offer some alternative coins too, such as quantum, steem, stellar, and more. This ensures you have plenty of trading opportunities.
- Accessible paymentmethods
We look for brokers who accept deposits in BTC, and other cryptos, and allow for crypto withdrawals too. If you prefer sticking to fiat currencies, you can rest assured our top crypto brokers also support traditional payment methods such as credit/debit cards, bank transfers and e-wallets.
- Excellent tradingplatforms
As cryptocurrency trading demands different trading conditions to forex, we make sure all of our recommended brokers offer efficient and user-friendly trading platforms. We also make sure that these platforms are customizable and offer you all the tools and indicators you need to succeed.
- 24/7 customer support
The crypto market is not centralized like the forex market, so it never closes. This means that you need access to round the clock support should anything go wrong. All of our best brokers offer friendly and knowledgeable account managers who are ready to help you whenever you need them.
Discover our top cryptocurrency brokers
Our team of experts has conducted comprehensive reviews to find the best brokers for crypto trading. We’ve analyzed these brokers from front to back and tested the services they offer to ensure their marketing aligns with reality.
Only the most reputable brokers that offer an outstanding trading experience have made it onto our list of the best brokers for crypto trading. Below you can learn more about our top 3 brokers for cryptocurrency trading.
Etoro
Plus500
Do cryptocurrency brokers offer trading bonuses?
Some forex brokers offer bonuses, depending on which authority regulates the broker and where they offer their services. In the european union, the law doesn’t permit brokers to offer bonuses however, outside the EU, many brokers offer attractive bonuses to new and existing clients regularly.
If you choose one of our recommended brokers for crypto trading, you can expect to enjoy these great bonuses too. Some of the bonuses available include:
- No-deposit bonuses – these bonuses are for new clients and you will receive the incentive without having to make a deposit.
- Deposit bonus – you will receive a deposit bonus when, as the name suggests, you make a deposit with a top cryptocurrency broker. The bonus is usually worth a percentage of the amount you deposit. These bonuses may be limited to your first deposit only or as part of an ongoing promotion for any deposit you make. Some brokers will require a specific minimum deposit for you to be eligible for the bonus.
- Loyalty bonus – the best cryptocurrency brokers offer this type of bonus to existing customers. The size of the bonus you can claim is usually calculated based on your trading activity.
- Referral bonus – in this case, you will receive a bonus for every person you refer who opens an account and makes a deposit.
All trading bonuses are subject to terms and conditions. For example, some brokers require you to conduct a certain volume of trades before you can withdraw the bonus, while others won’t let you withdraw the bonus at all.
Discover the best crypto trading platforms
Whilst you can trade crypto using a broker, you may need to use a different trading platform. Crypto is different from currency pairs. As there’s no centralized market, the setup isn’t quite the same.
For example, metatrader 4 can only handle crypto trading if the broker makes some adjustments to the code. In contrast, you can use a platform like metatrader 5 to trade crypto immediately. Many brokers also offer their own proprietary platforms that you can use for cryptocurrency trading.
Metatrader 5
Metatrader 5 allows you to trade cryptocurrencies and other assets including currency pairs. To trade crypto using MT5, you need to open an account with your broker. Once this has been done, you can log in to MT5 using the details provided. You’ll then need to right-click on the market watch window and go to the symbols tab. Select crypto from the list, then click show. MT5 will add all the crypto-based instruments your broker offers to the list.
The biggest advantage of using MT5 to trade cryptocurrencies is that it offers all of the same amazing charting and analytical tools as MT4. If you already trade forex, you’re likely to already familiar be familiar with metatrader too, which means the learning curve is minimal. If you have a diverse trading portfolio, MT5 is also beneficial as you can view all of your positions at once. This allows you to flick between monitoring your cryptocurrency, currency and other asset trades.
Proprietary crypto trading platforms
Some of the best forex brokers for crypto trading have developed their own trading platforms that also support trading crypto coins. These platforms are very user friendly and offer all the tools you could need to trade effectively. Like metatrader 5, they also allow you to trade a wide range of instruments from the same platform, making it easier for you to diversify your trading portfolio without having to use multiple systems to trade.
Other benefits of proprietary trading platforms include:
- You don’t have to open multiple e-wallets to trade different cryptocurrencies
- You can trade multiple crypto-based instruments and not just the coins themselves
- You can withdraw your money easily, which can be a challenge with a standard crypto exchange
Etoro, for example, has built an outstanding trading platform. It’s easy to use, very intuitive and includes all the tools you need to trade effectively. The platform also allows you to take advantage of a robust social trading program, which can be highly beneficial if you’re still learning how to trade.
Trading cryptocurrencies on mobile
If you want to use one of our best forex brokers for crypto trading on mobile, you’re in luck. All of the best cryptocurrency brokers offer a mobile counterpart so that you needn’t stop trading even when you’re on the go. You can download MT5 on both android and ios, and many of the best proprietary trading platforms are also available as native apps.
TOP 5 forex brokers for cryptocurrency trading
The excitement in the cryptocurrency industry not only continues, but is gaining momentum. The reason lies in the high volatility, which creates good potential for unlimited profits, as well as predominantly uptrends. If 3-4 years ago you could hear that bitcoin is just a financial bubble, now BTC futures are traded on the chicago stock exchange.
The choice of cryptocurrencies as the main tool for making profit in the financial markets is quite justified. It is possible to trade both on specialized exchanges and through forex brokers, and the latter is much more interesting in terms of profit potential and reliability. For the preparation of this article, we analyzed the trading conditions of a number of companies that provide their clients with the opportunity to trade cryptocurrencies. The best in terms of reliability and conditions were selected from them. After reading this article, the question of choosing an intermediary for making money on altcoin pricing will no longer be relevant, but first, let’s figure out why it is still more profitable to trade cryptocurrencies through forex brokers.
Note: for investors and supporters of passive earnings on cryptocurrencies, the “buy and hold” strategy is suitable. To make money on tokens in the long term, while not risking too much of your own funds, you just need to buy a crypt and store it on your wallet for some time.
Why are cryptocurrency cfds better than specialized exchanges?
About a year ago, a significant advantage of trading cryptocurrencies through forex brokers was the use of the familiar metatrader platform, but today even some of the specialized exchanges are ready to provide traders with this opportunity. Nevertheless, there are a number of more significant advantages for brokers in comparison with centralized sites:
- It is not required to specially create a crypto wallet. Of course, forex companies today also provide customers with the opportunity to replenish their internal balance with digital money, but this is not recommended. Blockchain technology was originally developed as an anonymous analogue of the usual payment systems (visa, master card). It is the anonymity of the payment that will not allow the trader to return funds from the broker forcibly using a charge-back (EPS guarantee). This is only possible when depositing funds in fiat currency. In addition, anonymity makes crypto wallets more vulnerable to hacker attacks.
- In cooperation with forex brokers, traders have the opportunity to effectively diversify risks by trading unrelated assets (currency pairs, cfds, metals, cryptocurrencies). All financial instruments are often available in a single platform.
- The main advantage of forex brokers in comparison with crypto-exchanges is their high leverage, the level of which can reach 1: 100. When opening an account on a centralized, specialized platform, you will need to go through full verification to gain access to margin trading, while providing leverage will require paying a commission. Moreover, the level of financial support for traders on crypto exchanges is limited to a value of 1: 5, but generally no more than 1: 2.
The last point should be paid special attention to novice traders. Higher leverage means not only more interesting profit potential, but also greater risks. However, if we talk about medium-term trading, then the advantages of choosing forex brokers for making money on cryptocurrencies are obvious. Let’s consider an example:
When buying BTC at a price of 10,000 USD and fixing a profit at the level of 11,000 USD, having invested $ 100, when trading on a crypto exchange, it would be possible to earn no more than 20 USD on this transaction with a 1: 2 leverage. If such an order were opened through a forex broker even with a leverage of 1:20 (the optimal level of risk), then the net profit would be 200% in relation to the initial deposit.
Best forex brokers for trading cryptocurrencies
So, we figured out the advantages of cooperation with forex brokers for trading cryptocurrencies. Now pay attention to the TOP 5 companies that are ready to offer customers the opportunity to earn money on the pricing of digital financial instruments. When compiling the rating, not only trading conditions were taken into account, but also the reliability of organizations.
Forexclub
Now it is difficult to find a trader who has never heard of this broker at least once. Many investors and managers are clients of the company, for which there are reasons. Pay attention to a few facts about forexclub:
- Intermediary activity in financial markets has been conducted since 1997.
- Since 2016, the company’s activities are regulated by the international finance commission. In case of controversial issues, each trader can ask for help by making a detailed complaint. The level of compensation payments is limited (up to 20,000 EUR) per application.
- A unique trading web platform libertex that combines all liquid financial instruments (raw materials, metals, currency pairs, stocks, stock indices, cryptocurrencies).
Attention! In 2018, the central bank of the russian federation revoked the license from forex club. However, in 2020, a joint project of a broker with alfa-forex (a subsidiary of the bank of the same name) was founded.
Now traders have the opportunity to open a trading account with the most reliable broker in russia, whose activities are regulated by the central bank, and at the same time use all the tools of the forex club company. This enables users to make money on the pricing of cryptocurrencies without fear for the safety of their own funds.
Why is forex club in the first place in today’s rating? There are three main reasons for this:
- High reliability, proven by time and by many successful traders.
- A wide selection of cryptocurrencies for trading, not inferior to specialized exchanges.
- Cartoonist. Unique development of the forexclub company. In fact, it is analogous to leverage. When trading cryptocurrencies, a multiplier range from 1 to 30 is available. Values of this parameter can be set in the libertex terminal before each transaction.
Roboforex
The company has been providing services to the online trading industry since 2009. Today the broker is ready to offer clients unique trading and investment solutions, namely:
- R-trader platform. A single web terminal that provides access to trading all liquid financial instruments, including cryptocurrencies, with a fixed leverage of 1:20.
- Terminal ctrader. Provides forex traders with direct access to interbank liquidity using STP technology.
- Copyfx platform that allows novice traders and supporters of passive income in the financial markets to copy transactions of experienced trading participants.
It is possible to start trading cryptocurrencies through the roboforex broker from $ 10. The maximum leverage for working with these instruments is 1:50, which is 10 times higher than the offered financial support on specialized exchanges.
NPBFX
A relatively young company, although the site mentions 1996 as the date of the beginning of intermediary activities in the financial markets. This is not entirely true. Broker NPBFX in its current form was registered in saint vincent and the grenadines in 2017. Prior to this, services were provided on the basis of the russian nefteprombank. Hence the name. However, since 2017 NPBFX has been an independent broker that has nothing to do with the said bank.
A company should be considered for trading cryptocurrencies for the following reasons:
- All liquid tokens are available for work.
- Fixed leverage at 1: 5.
- Exact quotes matching those presented on major crypto exchanges (binance, kraken).
- Fast processing of trade orders.
- To start trading, it is enough to replenish the account in the amount of 10 USD.
Important! In cooperation with NPBFX, it is recommended to go through verification immediately after registering on the site. To do this, you need to upload an identity document and wait for it to be verified by a moderator. It will take no more than 24 hours on weekdays. This will allow you to avoid difficulties with withdrawing funds. Also, when registering, it is imperative to carefully read the terms of the user agreement.
Fxopen
An institutional broker that has been providing clients with access to trading liquid financial instruments using ECN technology since 2003. The company offers attractive conditions for crypto traders:
- The ability to trade all liquid digital currencies.
- Loyal margin requirements (margin call 30% and stop out 15%).
- Fixed leverage of 1: 5.
- There are no restrictions on the maximum trading turnover, the amount of profit and funds on the deposit.
- Clients are provided with segregated accounts.
It is also worth noting the simple registration and loyal requirements for account verification. In addition, to start trading cryptocurrencies through the fxopen broker, it is enough to replenish an account in the amount of 10 USD or more.
Alpari
One of the leaders in providing services in the online trading industry. Cryptocurrency trading is available on ECN accounts. To do this, you need to top up your account in the amount of 300 USD. The leverage range is from 1: 3000 to 1: 2 and depends on the selected financial instrument and market volatility.
Attention! When trading cryptocurrencies on ECN accounts through alpari, it is not recommended to set the level of financial support above 1: 5, and also to neglect the rules of money management. Volatility surges are a fairly common occurrence in the crypto market, so using too high leverage is more likely to result in the loss of most of the deposit than in the expected profit.
Alpari is a broker with a twenty-year history, but the company is not focused on providing intermediary services in the digital asset market. This can explain a number of disadvantages:
- Limited choice of cryptocurrencies for trading.
- Low leverage for this type of financial instrument.
- Quotes often differ from those presented on specialized exchanges (within 30 points).
- Frequent slippage and delays in processing trade orders when working with the BTCUSD pair.
Despite these shortcomings, alpari, even after losing its license from the central bank of the russian federation, remains one of the most reliable and proven brokers. The decision on cooperation should be made by each trader on an individual basis.
Best cryptocurrency brokers
Luke jacobi
Contributor, benzinga
Want to jump straight to the answer? The best crypto platform for most people is definitely etoro.
Many people believe that cryptocurrencies are the future of finance. When you’re ready to leap into crypto, choosing a broker to trade or invest in cryptocurrencies is one of the most important steps to your success in the crypto market.
Get started now with benzinga’s picks for the best cryptocurrency brokers to choose the right one for you.
Best crypto brokers and trading platforms:
- Best for social trading: etoro
- Best for ease-of-use: gemini
- Best for new investors: coinbase
- Best for gold investments: itrustcapital
- Best for high volume forex traders: cryptorocket
- Best for accessibility: altrady
- Best for multiple exchanges: voyager
Best crypto brokers
Since different brokers have different strengths, you need to figure out what kind of broker best suits your cryptocurrency interests. Some brokers provide a social trading platform where you copy other cryptocurrency traders’ trades in your own account. Others can offer the ability to make transactions in a broader selection of altcoins.
Choosing the best crypto broker depends largely on addressing your needs as an investor or trader. The following list crypto brokers been selected for different reasons to meet the needs of differing cryptocurrency trading and investing styles.
Commissions
Account minimum
1. Best for social trading: etoro
Etoro fundamentally changed the way many people trade and invest with its social trading platform. Social trading involves mirroring another trader or investor’s transactions in a special social trading account. While you make the same amount proportionally as the trader you’re copying, you also take the same percentage of losses the trader takes in their account.
In addition to its regular crypto trading platform, etoro offers an advanced cryptocurrency exchange platform called etorox. This platform is designed for algorithmic traders and institutional grade investors. It offers traders access to tight-dealing spreads, and its algox application programming interface (API) can be used to create custom automated trading tools.
Commissions
Account minimum
2. Best for ease-of-use: gemini
Stay on top of market trends, build your crypto portfolio and execute your trading strategy with gemini’s easy-to-use tools. The gemini app is available on all the major app stores, and it puts the industry’s best crypto exchange and wallet in your hands.
Gemini’s app is easy to use. You can track asset prices and real-time market prices and set price alerts so you can act fast on price movements for individual assets. You can also schedule recurring buys on bitcoin and other cryptocurrencies.
Invest with peace of mind with gemini’s solid cybersecurity and custody solutions. Create a free account and make your 1st buy in as little as 3 minutes.
Commissions
Account minimum
3. Best for new investors: coinbase
Coinbase is 1 of the largest and oldest cryptocurrency exchanges. It currently services 35 million customers worldwide. Coinbase has extensive educational resources and an intuitive interface ideal for new traders and investors.
The exchange also provides clients with a hosted wallet and offers global customer support. Coinbase is an excellent choice for those new to the cryptocurrency market who do not wish to use social trading services.
Commissions
Account minimum
4. Best for gold investments: itrustcapital
Itrustcapital is 1 of the few cryptocurrency brokers that lets you trade and hold physical gold in your individual retirement account (IRA). You can also trade bitcoin (BTC), ethereum (ETH), litecoin (LTC) and bitcoin cash (BTH) in your IRA. Itrustcapital provides you with a personal wallet by curv for your crypto transactions.
While itrustcapital has no minimum trade or account size, the company charges account holders a flat fee of $29.95 per month. This amount includes all IRA fees, asset custody charges and access to its trading platform, although all cryptocurrency trades carry an additional 1% transaction charge based on the trade size.
If you’re planning for your retirement and want to add physical gold to your cryptocurrency portfolio as an inflation hedge, then itrustcapital is a solid choice.
5. Best for high volume forex traders: cryptorocket
Cryptorocket offers straight through processing (STP) to its trading clients. This means you deal directly with the crypto and forex markets and not through intermediaries or market makers. This broker model is ideal for high volume forex traders who tend to be sensitive to dealing spreads.
In addition to the 35 crypto pairs offered, you can trade 55 fiat currency pairs, 64 major stocks and 11 indices. If you are based in a jurisdiction with relatively lax retail forex trading regulatory oversight, you may even be able to take advantage of cryptorocket’s 500:1 maximum leverage ratio for forex trades.
Cryptorocket also supports the popular 3rd-party metatrader4 trading platform.
6. Best for accessibility: altrady
Altrady is built by crypto traders for crypto traders. It makes cryptocurrency trading accessible for beginner, intermediate and advanced traders.
You can get the tools that professional crypto traders use without the expensive price tag. Altrady’s platform is intuitive and easy-to-use. Its crypto trading software platform adapts to your needs.
It combines 10 connected exchanges. It also offers immediate price alerts, portfolio manager, break-even calculator, and customizable trading pages by allowing traders to manipulate widgets to create preferred layout in order to trade comfortably, limit ladder order, gain quick access to market tabs, and integrated market scanners.
Commissions
Account minimum
7. Best for multiple exchanges: voyager
Voyager connects to more than a dozen of the most trusted and secure crypto exchanges so you have access to the largest crypto trading market available anywhere. Voyager gives you faster, more reliable execution, plus:
- Access to multiple exchanges: voyager partnered with over a dozen of the most trusted and secure crypto exchanges and liquidity providers. Voyager’s exchange connectivity offers you competitive prices on your trades and faster, more reliable execution.
- Commission-free trading: voyager operates commission free to save you money. You save money on trades through its extensive crypto market and best execution technology. Voyager achieves price improvement on over 90% of customer orders.
Start trading at a better price today! Download the voyager app today.
Crypto advantages vs. Disadvantages
Trading and investing in cryptocurrencies often carry a considerable degree of risk, as you may have observed given the volatility of bitcoin and some other digital currencies. Despite the disadvantages currently associated with cryptos versus fiat currencies (like lower liquidity and minimal payment options), the advantages of holding cryptocurrencies will increase as they become a more common form of payment.
Here’s a quick shot of crypto advantages and disadvantages.
Advantages
- Security. Technology advances typically lead to increased intrusion into your privacy. In contrast, all identities and transactions are strictly secured in the digital currency environment. While most cryptocurrency transactions are very secure, you still could be vulnerable to cybercriminal actions, like hacking.
- Low transaction fees. Because of the elimination of intermediaries like financial institutions, cryptocurrency transaction fees are generally quite low.
- Decentralized. The lack of a central exchange or authority overseeing cryptocurrencies is one of their defining characteristics. Many people consider this among the biggest advantages of cryptocurrencies and blockchain technology.
- High potential returns. You only have to look at a long-term bitcoin price chart to get an idea of the returns you can make investing wisely in digital currencies. The crypto world is still developing and expanding, so investing in the right digital currency now could translate into considerable returns in the future.
Disadvantages
- Acceptance. Because digital currencies have not yet become mainstream, most businesses will not accept them as payment for goods or services. This situation will eventually change as public perception makes digital currencies more acceptable as forms of payment. For example, paypal has recently allowed customers to hold bitcoin balances and has plans to allow payments using that cryptocurrency by early 2021.
- Volatility. The market volatility observed in some digital currencies can lead to large gains or large losses. Trading and investing in crypto is not for everyone, especially those with a low pain threshold or aversion to risk.
- Taxes. The internal revenue service (IRS) states on its official website that “virtual currency transactions are taxable by law just like transactions in any other property.” that IRS web page also links to a guide about how existing general tax principles apply to transactions made using digital currencies.
- Illegal activities. Due to the fact that digital currency transactions generally provide identity security, many people operating outside the law are thought to use digital currency for illegal activities. These activities could include money laundering, “dark web” transactions, and drug and human trafficking.
Cryptocurrency vocabulary
Like many other financial markets, the cryptocurrency market has evolved its own jargon. Some of the key terms used by market operators are defined below.
- Block. A collection of transactions permanently recorded on a digital ledger that occur regularly in every time period on a blockchain.
- Blockchain. A constantly growing list of blocks in a peer-to-peer network that records transactions.
- Cryptocurrency exchanges. Also called digital currency exchanges, these generally consist of online businesses that allow customers to exchange cryptocurrencies for fiat currencies or other cryptocurrencies.
- Cryptocurrency wallet. A secure digital account used to send, receive and store digital currencies. Crypto wallets can either be cold wallets that are used for storing cryptos in an offline environment or hosted wallets that are hosted by 3rd parties. Hosted wallets store your private keys and provide security for your digital currency balances.
- Distributed ledger. A network of decentralized nodes or computers that connect to a network where transaction data is stored. Distributed ledgers do not have to involve cryptocurrencies and can be either private or permissioned.
- Fork. Also known as a “chain split,” a fork is a split that creates an alternate version of a blockchain that then leaves 2 blockchains running simultaneously. For example, bitcoin and bitcoin cash came about due to a fork in the original bitcoin blockchain. Another type of fork is known as a “project” or “software fork.” this occurs when cryptocurrency developers take the source code of an existing altcoin project and create a new project. For example, litecoin is a project fork of bitcoin.
- ICO. An initial coin offering (ICO) occurs when a new digital currency or token is sold, typically at a discount, to its first set of investors. An ICO lets issuing cryptocurrency companies raise funds from the public to support their coin’s development and maintenance.
- Mining. A computationally-intensive process performed within a cryptocurrency network where blocks are added to the blockchain by verifying transactions on its distributed ledger. Miners are rewarded with digital coins as compensation for their successful computational efforts.
Are you ready for the future?
Digital currency and the blockchain appear to be the future of finance. Despite their current typical volatility and lack of widespread acceptance as a payment method, cryptocurrencies seem destined to become increasingly used for online payments. They could therefore make an interesting long-term investment, especially if you have a strong appetite for risk.
Where we will be in 20 years is anyone’s guess, but cryptocurrencies and blockchain technology show growing promise as forces to be reckoned with in the financial world. Get started today with 1 of our recommended crypto brokers.
Try gemini
Gemini builds crypto products to help you buy, sell, and store your bitcoin and cryptocurrency. You can buy bitcoin and crypto instantly and access all the tools you need to understand the crypto market and start investing, all through one clear, attractive interface. Gemini crypto platform offers excellent account management options. You can manage your account at a glance, view your account balance 24-hour changes and percent changes. Get started with gemini now.
The best brokers for crypto trading in 2021
Choosing the best forex brokers for crypto trading in 2020 can be difficult. Have you found yourself inundated with brokers promising you the ‘greatest’ cryptocurrency trading experience possible?
The excellent news is that our experts are here to help. We’ve done all the hard work for you. By testing and reviewing hundreds of cryptocurrency brokers, we’ve managed to create a complete list of only the very best. Any broker you choose from our list of best cryptocurrency brokers will be safe and reputable. They also all offer plenty of cryptocurrency trading opportunities, fair fees, and proficient platforms.
This page also provides you with expert advice on crypto trading, to ensure that you have all the information you need to get started. Check out our list of the best forex brokers for crypto trading below or read on to learn more about:
- How we choose the best cryptocurrency brokers
- How to claim cryptocurrency trading bonuses
- Which are the best crypto trading platforms
- How to trade cryptocurrencies on mobile
The best crypto brokers for 2020
How we find the best brokers for crypto trading
To find the best brokers for crypto trading, our team of experts has developed a rigorous review methodology based on many years of professional experience.
Our unique approach comprises analyzing 200 points across 10 key categories for each broker. We look at everything from licensing and a broker’s reputation to the quality of educational materials they offer and the fees they charge.
We understand that not every category holds the same weight for an impressive trading experience, which is why we assign each a different level of importance when calculating the final score. For example, licensing and regulation contribute far more to the score than educational materials.
When analyzing brokers for cryptocurrency trading, we also look at features important to you as a crypto trader, such as:
- Extensive crypto pairs and CFD options
We look for brokers who offer you a variety of crypto trading options, such as being able to trade crypto coins against other crypto coins, like the BTC/XRP, cryptos against fiat currencies, like BTC/USD, and cryptos against commodities, like BTC/gold.
Our top brokers also allow you to trade crypto cfds and provide opportunities to make physical crypto trades too. With physical crypto trading, you’ll be able to buy cryptocurrency coins and sell them at a later date.
- A wide range of different coins
The best forex brokers for crypto trading must offer a variety of coins for you to trade. We look for brokers who offer the most popular coins, including bitcoin, ripple, ethereum, litecoin, and so on.
We also check to make sure they offer some alternative coins too, such as quantum, steem, stellar, and more. This ensures you have plenty of trading opportunities.
- Accessible paymentmethods
We look for brokers who accept deposits in BTC, and other cryptos, and allow for crypto withdrawals too. If you prefer sticking to fiat currencies, you can rest assured our top crypto brokers also support traditional payment methods such as credit/debit cards, bank transfers and e-wallets.
- Excellent tradingplatforms
As cryptocurrency trading demands different trading conditions to forex, we make sure all of our recommended brokers offer efficient and user-friendly trading platforms. We also make sure that these platforms are customizable and offer you all the tools and indicators you need to succeed.
- 24/7 customer support
The crypto market is not centralized like the forex market, so it never closes. This means that you need access to round the clock support should anything go wrong. All of our best brokers offer friendly and knowledgeable account managers who are ready to help you whenever you need them.
Discover our top cryptocurrency brokers
Our team of experts has conducted comprehensive reviews to find the best brokers for crypto trading. We’ve analyzed these brokers from front to back and tested the services they offer to ensure their marketing aligns with reality.
Only the most reputable brokers that offer an outstanding trading experience have made it onto our list of the best brokers for crypto trading. Below you can learn more about our top 3 brokers for cryptocurrency trading.
Etoro
Plus500
Do cryptocurrency brokers offer trading bonuses?
Some forex brokers offer bonuses, depending on which authority regulates the broker and where they offer their services. In the european union, the law doesn’t permit brokers to offer bonuses however, outside the EU, many brokers offer attractive bonuses to new and existing clients regularly.
If you choose one of our recommended brokers for crypto trading, you can expect to enjoy these great bonuses too. Some of the bonuses available include:
- No-deposit bonuses – these bonuses are for new clients and you will receive the incentive without having to make a deposit.
- Deposit bonus – you will receive a deposit bonus when, as the name suggests, you make a deposit with a top cryptocurrency broker. The bonus is usually worth a percentage of the amount you deposit. These bonuses may be limited to your first deposit only or as part of an ongoing promotion for any deposit you make. Some brokers will require a specific minimum deposit for you to be eligible for the bonus.
- Loyalty bonus – the best cryptocurrency brokers offer this type of bonus to existing customers. The size of the bonus you can claim is usually calculated based on your trading activity.
- Referral bonus – in this case, you will receive a bonus for every person you refer who opens an account and makes a deposit.
All trading bonuses are subject to terms and conditions. For example, some brokers require you to conduct a certain volume of trades before you can withdraw the bonus, while others won’t let you withdraw the bonus at all.
Discover the best crypto trading platforms
Whilst you can trade crypto using a broker, you may need to use a different trading platform. Crypto is different from currency pairs. As there’s no centralized market, the setup isn’t quite the same.
For example, metatrader 4 can only handle crypto trading if the broker makes some adjustments to the code. In contrast, you can use a platform like metatrader 5 to trade crypto immediately. Many brokers also offer their own proprietary platforms that you can use for cryptocurrency trading.
Metatrader 5
Metatrader 5 allows you to trade cryptocurrencies and other assets including currency pairs. To trade crypto using MT5, you need to open an account with your broker. Once this has been done, you can log in to MT5 using the details provided. You’ll then need to right-click on the market watch window and go to the symbols tab. Select crypto from the list, then click show. MT5 will add all the crypto-based instruments your broker offers to the list.
The biggest advantage of using MT5 to trade cryptocurrencies is that it offers all of the same amazing charting and analytical tools as MT4. If you already trade forex, you’re likely to already familiar be familiar with metatrader too, which means the learning curve is minimal. If you have a diverse trading portfolio, MT5 is also beneficial as you can view all of your positions at once. This allows you to flick between monitoring your cryptocurrency, currency and other asset trades.
Proprietary crypto trading platforms
Some of the best forex brokers for crypto trading have developed their own trading platforms that also support trading crypto coins. These platforms are very user friendly and offer all the tools you could need to trade effectively. Like metatrader 5, they also allow you to trade a wide range of instruments from the same platform, making it easier for you to diversify your trading portfolio without having to use multiple systems to trade.
Other benefits of proprietary trading platforms include:
- You don’t have to open multiple e-wallets to trade different cryptocurrencies
- You can trade multiple crypto-based instruments and not just the coins themselves
- You can withdraw your money easily, which can be a challenge with a standard crypto exchange
Etoro, for example, has built an outstanding trading platform. It’s easy to use, very intuitive and includes all the tools you need to trade effectively. The platform also allows you to take advantage of a robust social trading program, which can be highly beneficial if you’re still learning how to trade.
Trading cryptocurrencies on mobile
If you want to use one of our best forex brokers for crypto trading on mobile, you’re in luck. All of the best cryptocurrency brokers offer a mobile counterpart so that you needn’t stop trading even when you’re on the go. You can download MT5 on both android and ios, and many of the best proprietary trading platforms are also available as native apps.
TOP 5 forex brokers for cryptocurrency trading
The excitement in the cryptocurrency industry not only continues, but is gaining momentum. The reason lies in the high volatility, which creates good potential for unlimited profits, as well as predominantly uptrends. If 3-4 years ago you could hear that bitcoin is just a financial bubble, now BTC futures are traded on the chicago stock exchange.
The choice of cryptocurrencies as the main tool for making profit in the financial markets is quite justified. It is possible to trade both on specialized exchanges and through forex brokers, and the latter is much more interesting in terms of profit potential and reliability. For the preparation of this article, we analyzed the trading conditions of a number of companies that provide their clients with the opportunity to trade cryptocurrencies. The best in terms of reliability and conditions were selected from them. After reading this article, the question of choosing an intermediary for making money on altcoin pricing will no longer be relevant, but first, let’s figure out why it is still more profitable to trade cryptocurrencies through forex brokers.
Note: for investors and supporters of passive earnings on cryptocurrencies, the “buy and hold” strategy is suitable. To make money on tokens in the long term, while not risking too much of your own funds, you just need to buy a crypt and store it on your wallet for some time.
Why are cryptocurrency cfds better than specialized exchanges?
About a year ago, a significant advantage of trading cryptocurrencies through forex brokers was the use of the familiar metatrader platform, but today even some of the specialized exchanges are ready to provide traders with this opportunity. Nevertheless, there are a number of more significant advantages for brokers in comparison with centralized sites:
- It is not required to specially create a crypto wallet. Of course, forex companies today also provide customers with the opportunity to replenish their internal balance with digital money, but this is not recommended. Blockchain technology was originally developed as an anonymous analogue of the usual payment systems (visa, master card). It is the anonymity of the payment that will not allow the trader to return funds from the broker forcibly using a charge-back (EPS guarantee). This is only possible when depositing funds in fiat currency. In addition, anonymity makes crypto wallets more vulnerable to hacker attacks.
- In cooperation with forex brokers, traders have the opportunity to effectively diversify risks by trading unrelated assets (currency pairs, cfds, metals, cryptocurrencies). All financial instruments are often available in a single platform.
- The main advantage of forex brokers in comparison with crypto-exchanges is their high leverage, the level of which can reach 1: 100. When opening an account on a centralized, specialized platform, you will need to go through full verification to gain access to margin trading, while providing leverage will require paying a commission. Moreover, the level of financial support for traders on crypto exchanges is limited to a value of 1: 5, but generally no more than 1: 2.
The last point should be paid special attention to novice traders. Higher leverage means not only more interesting profit potential, but also greater risks. However, if we talk about medium-term trading, then the advantages of choosing forex brokers for making money on cryptocurrencies are obvious. Let’s consider an example:
When buying BTC at a price of 10,000 USD and fixing a profit at the level of 11,000 USD, having invested $ 100, when trading on a crypto exchange, it would be possible to earn no more than 20 USD on this transaction with a 1: 2 leverage. If such an order were opened through a forex broker even with a leverage of 1:20 (the optimal level of risk), then the net profit would be 200% in relation to the initial deposit.
Best forex brokers for trading cryptocurrencies
So, we figured out the advantages of cooperation with forex brokers for trading cryptocurrencies. Now pay attention to the TOP 5 companies that are ready to offer customers the opportunity to earn money on the pricing of digital financial instruments. When compiling the rating, not only trading conditions were taken into account, but also the reliability of organizations.
Forexclub
Now it is difficult to find a trader who has never heard of this broker at least once. Many investors and managers are clients of the company, for which there are reasons. Pay attention to a few facts about forexclub:
- Intermediary activity in financial markets has been conducted since 1997.
- Since 2016, the company’s activities are regulated by the international finance commission. In case of controversial issues, each trader can ask for help by making a detailed complaint. The level of compensation payments is limited (up to 20,000 EUR) per application.
- A unique trading web platform libertex that combines all liquid financial instruments (raw materials, metals, currency pairs, stocks, stock indices, cryptocurrencies).
Attention! In 2018, the central bank of the russian federation revoked the license from forex club. However, in 2020, a joint project of a broker with alfa-forex (a subsidiary of the bank of the same name) was founded.
Now traders have the opportunity to open a trading account with the most reliable broker in russia, whose activities are regulated by the central bank, and at the same time use all the tools of the forex club company. This enables users to make money on the pricing of cryptocurrencies without fear for the safety of their own funds.
Why is forex club in the first place in today’s rating? There are three main reasons for this:
- High reliability, proven by time and by many successful traders.
- A wide selection of cryptocurrencies for trading, not inferior to specialized exchanges.
- Cartoonist. Unique development of the forexclub company. In fact, it is analogous to leverage. When trading cryptocurrencies, a multiplier range from 1 to 30 is available. Values of this parameter can be set in the libertex terminal before each transaction.
Roboforex
The company has been providing services to the online trading industry since 2009. Today the broker is ready to offer clients unique trading and investment solutions, namely:
- R-trader platform. A single web terminal that provides access to trading all liquid financial instruments, including cryptocurrencies, with a fixed leverage of 1:20.
- Terminal ctrader. Provides forex traders with direct access to interbank liquidity using STP technology.
- Copyfx platform that allows novice traders and supporters of passive income in the financial markets to copy transactions of experienced trading participants.
It is possible to start trading cryptocurrencies through the roboforex broker from $ 10. The maximum leverage for working with these instruments is 1:50, which is 10 times higher than the offered financial support on specialized exchanges.
NPBFX
A relatively young company, although the site mentions 1996 as the date of the beginning of intermediary activities in the financial markets. This is not entirely true. Broker NPBFX in its current form was registered in saint vincent and the grenadines in 2017. Prior to this, services were provided on the basis of the russian nefteprombank. Hence the name. However, since 2017 NPBFX has been an independent broker that has nothing to do with the said bank.
A company should be considered for trading cryptocurrencies for the following reasons:
- All liquid tokens are available for work.
- Fixed leverage at 1: 5.
- Exact quotes matching those presented on major crypto exchanges (binance, kraken).
- Fast processing of trade orders.
- To start trading, it is enough to replenish the account in the amount of 10 USD.
Important! In cooperation with NPBFX, it is recommended to go through verification immediately after registering on the site. To do this, you need to upload an identity document and wait for it to be verified by a moderator. It will take no more than 24 hours on weekdays. This will allow you to avoid difficulties with withdrawing funds. Also, when registering, it is imperative to carefully read the terms of the user agreement.
Fxopen
An institutional broker that has been providing clients with access to trading liquid financial instruments using ECN technology since 2003. The company offers attractive conditions for crypto traders:
- The ability to trade all liquid digital currencies.
- Loyal margin requirements (margin call 30% and stop out 15%).
- Fixed leverage of 1: 5.
- There are no restrictions on the maximum trading turnover, the amount of profit and funds on the deposit.
- Clients are provided with segregated accounts.
It is also worth noting the simple registration and loyal requirements for account verification. In addition, to start trading cryptocurrencies through the fxopen broker, it is enough to replenish an account in the amount of 10 USD or more.
Alpari
One of the leaders in providing services in the online trading industry. Cryptocurrency trading is available on ECN accounts. To do this, you need to top up your account in the amount of 300 USD. The leverage range is from 1: 3000 to 1: 2 and depends on the selected financial instrument and market volatility.
Attention! When trading cryptocurrencies on ECN accounts through alpari, it is not recommended to set the level of financial support above 1: 5, and also to neglect the rules of money management. Volatility surges are a fairly common occurrence in the crypto market, so using too high leverage is more likely to result in the loss of most of the deposit than in the expected profit.
Alpari is a broker with a twenty-year history, but the company is not focused on providing intermediary services in the digital asset market. This can explain a number of disadvantages:
- Limited choice of cryptocurrencies for trading.
- Low leverage for this type of financial instrument.
- Quotes often differ from those presented on specialized exchanges (within 30 points).
- Frequent slippage and delays in processing trade orders when working with the BTCUSD pair.
Despite these shortcomings, alpari, even after losing its license from the central bank of the russian federation, remains one of the most reliable and proven brokers. The decision on cooperation should be made by each trader on an individual basis.
Fxdailyreport.Com
Over the last few years, cryptocurrency trading has become one of the most attractive niches in forex trading. Other than it being extremely profitable, the lack of regulation is its biggest appeal. Still, cryptocurrencies like bitcoin, ethereum ripple, dash, and litecoin are dynamic, unstable instruments that need to be handled cautiously and in the most optimal way. To achieve this, you need to choose a trustworthy, well-established broker to carry out your cryptocurrency trading.
This is crucial to getting on the right track from the beginning when trading cryptocurrencies. When choosing a broker, it is important to note that not all are the same. A broker that meets the needs of another trader may not meet yours. Here are a few tips to help you choose the best forex broker for cryptocurrency trading:
- Regulation and reputation
To avoid dealing with an unprofessional broker and being scammed, you need to make sure all your crypto trades are made solely with a regulated broker. When choosing a forex broker to work with, make sure they are regulated within your jurisdiction to legally offer you their services. Regulated forex brokers are under constant supervision of the regulatory body. If you are in the UK, make sure to trade with a broker that is regulated by the FCA. If in europe, ensure they are regulated by the cysec. In case you are in australia, they should be regulated by the ASIC.
- An efficient trading platform
It is important to note that cryptocurrency trading is more volatile than forex. Therefore, it demands that the platform is superbly responsive to be able to make moves in time. A good broker’s platform should be efficient to use. To beat the competition, the best cryptocurrency brokers work to attract clients by creating an intuitive trading platform that is suitable for both experienced and new traders. They offer technical analysis tools and basic risk management features like take profit or stop loss. Other sites also offer additional features, including price alerts, social trading networks or advanced educational centers. The crypto trading platform should allow you to trade in the market manage your accounts, perform technical analysis, and receive the latest news on all cryptocurrencies.
Top recommended crypto forex brokers in 2021
| broker | info | bonus | open account |
|---|---|---|---|
| min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec | 50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win. | Visit broker | |
| min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC | $100 no-deposit bonus, 100% deposit bonus | visit broker | |
| min deposit: 0 spread: non-spread, fee 0.1% per trade leverage: non-leverage regulation: - | visit broker | ||
| min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN | 35% of the account deposit | visit broker | |
 | min deposit: $50 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA | visit broker | |
| min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202 | visit broker | ||
| min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK | visit broker | ||
| | min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC | visit broker | |
| min deposit: $10 spread: leverage: regulation: cysec | - | visit broker | |
| | min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec | visit broker |
- Transparent fees and commissions
All brokers, whether trading crypto coins or forex, charge commissions and offer margin accounts to traders. A reliable forex broker for crypto coins should inform you precisely the type of fees and commissions they charge as well as the risks involved. The common fees and charges made by brokers include:
• wallet fees
• transaction fees
• trading fees
- Competitive technology
The last thing you want as a crypto trader is to get margin called simply because you could not log in to close an order. The cryptocurrency trading market is a 24/7 global market. The prices keep moving and are not limited to your time zone. Hence, when choosing a broker, you need to choose one whose platform offers full-time access.
For instance, when trading cryptocurrencies, mobile apps are a necessity as you may need to make or break deal-critical decisions throughout the day. If possible, consider using a reputable broker with a mobile app so that you are able to make successful trading decisions even while in transit.
- Access to crowd wisdom
Today, there are some broker platforms that let you leverage the wisdom of seasoned cryptocurrency traders. This feature can go a long way in improving your returns on investment. Such a trading platform lets you observe the hottest trading trends of other seasoned and successful traders in the market.
Digital currencies trading keeps growing in popularity by the day. More and more people, be it speculators or beginner traders want to be able to make key decisions on time, every minute. Therefore, they need to have a setup ready as soon as they are verified by a broker. When choosing a cryptocurrency broker to trade with, consider one that can quickly get you started so that you can begin trading with minimal downtime.
- User-friendly platform
This is one of the most important features to consider when choosing a trading platform to trade with. Digital money trading can be unclear, especially when a technical language is used. Also, because digital money works a little bit differently from any traditional money system. A good broker should be able to understand blockchain and cryptography terms. They should make an effort to explain it in their platform to make it easy to understand by a layman.
They should include clear notifications about the spreads offers, leverage available, deposit methods, the minimum cryptocurrency deposit to trade and the least amount that can be placed in a trade. Make sure you are able to establish all these details before registering with a broker.
- High-quality customer service
Cryptocurrency trading occurs 24/7. This demands the need for round the clock customer support. Better still, live support is highly preferred over auto attendants taking into consideration the intricacies involved in trading digital currencies.
- Deposits and withdrawals
Make sure to choose a broker that allows deposits and withdrawals through multiple platforms such as wire transfer, credit/debit card e-payment among others.
- Good financial backing
A good FX broker for cryptocurrency should have a sound financial backing. This ensures that your digital coins are safe and that the forex broker will not go bankrupt soon after signing up with them.
Cryptocurrency trading is a risky investment. New and fraudulent forex brokers for cryptocurrency trading are emerging every month, launching with crafty marketing campaigns intended to prey on an innocent investor. Therefore, ensure you proceed with caution. Cryptocurrencies are extremely volatile instruments to trade. So, ensure you are in the know of any breaking news, regulatory matters, and rumors which all dictate the market behavior. Above all, make sure you are working with a reputable, reliable and experienced broker.
While it would be easier to point a finger and tell you the best crypto broker, we know and understand that each client has different preferences. Be knowledgeable about all your options and think about how you can spot a broker that is safe now, and in the long-run.
Bitcoin brokers – understand the advantages of cryptocurrency trading
Bitcoin is a cryptocurrency, which can be spent, conserved, or invested, and also it can be swiped also. Trading with tornado.Cash was taken into consideration to be high-risk, but the current patterns show that it has ended up being a big hit the binary alternatives sector. This decentralized money is not regulated by any government, or by any type of main authority.
What establishes the price of bitcoins?
Bitcoin’s rate is established according to the supply as well as need proportion. Bitcoins in blood circulation are limited, and brand-new ones are produced at a really slow rate.
Bitcoin trading is prominent due to –
Low rising cost of living danger – inflation is the biggest concern for investors, since all the money lose a few of their buying power when the get banks maintain printing extra money. With bitcoin minting system being restricted to simply 21 million bitcoins, it hardly obtains impacted with inflation.
Low collapse danger – currencies fluctuations depend on government trade plans, which at times create devaluation, and even bring about the collapse of money. Bitcoin is a digital global currency, which is not managed by any kind of federal government.
Basic, secure and also economical – the bitcoin repayments happen in between peer-to-peer with no intermediary, which is why it is simple and also low-cost.
Easy to lug – bitcoins worth million bucks can be lugged in your pocket, in a memory stick. This can not be made with gold or cash money.
Untraceable – issuance of bitcoin is not controlled by any kind of government, so the danger of seizure is nil.
Binary alternatives bitcoin trading system
Binary alternatives brokers are obtaining aware of appeal of these bitcoins, as well as its continuous ever-changing worths. Consequently they are using this opportunity to offer investors with the latest volatile crypto-currency as an added payment technique. Bitcoin brokers giving crypto-currency as trading option include –
One touch option – bitcoin trading can be performed with anyoption or one-touch option. The existing preferred money pair is BTC/USD.
Setoption – the newest choice readily available for asset trading is BITCOIN/USD.
Bitcoin brokers supply a basic trading online platform. All you need to do is visit their website, enter your details, and create an account. You can start with trial account to comprehend the market action.
The trading screen is easy.
Choose the cost direction (UP/DOWN).
Select the duration.
Is bitcoin trading secure?
Bitcoin network is possibly the globe’s large spread computer job. One of the most common weakness right here is the user mistakes. Bitcoin wallet files can obtain shed, stolen, or deleted mistakenly similar to any kind of other files in the digital form.
Nonetheless, individuals can use audio protection strategies to protect their money. Alternatively, you could choose the service providers that supply top-level security, as well as insurance coverage versus loss or burglary.
We give most current details on bitcoin brokers as well as online trading systems on our website. Please visit our website to check out the broker reviews in order to make the right selections.
Trading with bitcoins was thought about to be risky, but the present trends show that it has come to be a big hit the binary choices field. Bitcoin’s rate is figured out according to the supply as well as demand ratio. Binary choices brokers are obtaining familiar with popularity of these bitcoins, as well as its consistent rising and falling values. Bitcoin brokers giving crypto-currency as trading option include –
Bitcoin brokers supply an easy trading online platform.
So, let's see, what we have: compare the best cryptocurrency brokers. Start trading bitcoin (BTC), bitcoin cash (BCH) ethereum and other coins. Choose safe and legit crypto brokers. At crypto currency trading brokers
Contents
- Top forex bonus list
- Best cryptocurrency brokers for 2021
- Best cryptocurrency brokers (non-US traders only)
- Plus500 – top rated trading platform
- IQ option – lowest minimum deposit ($10)
- Etoro – top crypto broker
- Highlow – best all-round crypto broker
- Nadex – US traders welcome
- Crypto brokers with most cryptocurrencies
- Lowest minimum deposit brokers
- Top rated brokers that have cryptocurrencies
- How to choose your cryptocurrency broker
- Which cryptocurrencies are you interested in trading?
- Pros and cons of cryptocurrency brokers
- Cryptocurrency brokers – what to look for
- More great features you could be interested in
- Ready to start trading?
- Top cryptocurrency brokers for 2021
- Best cryptocurrency brokers guide
- Are you interested in investing in cryptocurrency?
- Defining cryptocurrencies
- The important characteristics of the cryptocurrencies
- No third party involved
- Cryptocurrencies have more transparency
- Decentralized
- Blockchain definition
- Cryptocurrency brokers
- What is cryptocurrency?
- Cryptocurrency wallets
- Cryptocurrency exchanges
- The cryptocurrency mining
- Cryptocurrency wallet
- Cryptocurrency exchange
- Cryptocurrency brokers verdict
- Reputable cryptocurrency brokers checklist
- Top 15 cryptocurrency brokers of 2021 compared
- The best brokers for crypto trading in 2021
- The best crypto brokers for 2020
- How we find the best brokers for crypto trading
- Discover our top cryptocurrency brokers
- Do cryptocurrency brokers offer trading bonuses?
- Discover the best crypto trading platforms
- TOP 5 forex brokers for cryptocurrency trading
- Why are cryptocurrency cfds better than specialized exchanges?
- Best forex brokers for trading cryptocurrencies
- Forexclub
- Roboforex
- NPBFX
- Fxopen
- Alpari
- Best cryptocurrency brokers
- Best crypto brokers and trading platforms:
- Best crypto brokers
- Commissions
- Account minimum
- 1. Best for social trading: etoro
- 2. Best for ease-of-use: gemini
- 3. Best for new investors: coinbase
- 4. Best for gold investments: itrustcapital
- 5. Best for high volume forex traders: cryptorocket
- 6. Best for accessibility: altrady
- 7. Best for multiple exchanges: voyager
- Crypto advantages vs. Disadvantages
- Cryptocurrency vocabulary
- Are you ready for the future?
- The best brokers for crypto trading in 2021
- The best crypto brokers for 2020
- How we find the best brokers for crypto trading
- Discover our top cryptocurrency brokers
- Do cryptocurrency brokers offer trading bonuses?
- Discover the best crypto trading platforms
- TOP 5 forex brokers for cryptocurrency trading
- Why are cryptocurrency cfds better than specialized exchanges?
- Best forex brokers for trading cryptocurrencies
- Forexclub
- Roboforex
- NPBFX
- Fxopen
- Alpari
- Fxdailyreport.Com
- Top recommended crypto forex brokers in 2021
- Bitcoin brokers – understand the advantages of cryptocurrency trading
No comments:
Post a Comment