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7 Best Forex Brokers To Buy Bitcoin In 2020

cryptocurrency brokers

Popular Brokers

eToro – Being one of the top-rated broker forex it offers several currencies including Ethereum, Ripple, Bitcoin and Dash. 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. 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.

To accomplish this, the first important step is to choose a reliable, well-established forex broker to facilitate your cryptocurrency forex trades. A cryptocurrency exchange is a business that allows customers to buy, sell, or trade cryptocurrencies.

Cryptocurrency Trading For Beginners

Exchanges like Coinbase offer in-depth platforms, such as their Global Digital Asset Exchange . It’s always worth setting up a demo account first to make sure the exchange has the technical tools and resources you need. High volatility and trading volume in cryptocurrencies suit day trading very well. These cryptocurrency brokers make it really easy to trade bitcoin and other coins.


Having said that, it is a bit of overkill for of the small retail trader, and therefore you may find better options unless you have a larger account and are trading decent size. They are listed publicly and are the United Kingdom’s largest retail Forex broker.

Conversely, traders that wish to purchase the underlying physical bitcoin can find eToro is a great option, followed by Swissquote Bank. The responsibility is on you as an investor to be sure whether your cryptocurrency broker is regulated or not, regardless of the claims they make.

cryptocurrency brokers

High leverage, deep liquidity, regulated and developed infrastructure make it possible to build a high-yield business in the investment and fintech industry. The MT5 platform offers the option to nominate account types in all currencies and cryptocurrencies. With the growth of BTC and XRP, customers will receive a revenue twice.

The platform features a risk-free practice trading account with up to $100,000 virtual funds. Deciding on which cryptocurrency broker to invest with is one of the most important tasks in the crypto industry. You have to invest with a reliable and trustworthy broker which not only ensures the safety of your funds but also can help you make a profit.

  • From the same brokerage account, you can trade other markets including forex, CFDs, stocks, indices, commodities, etc.
  • CFD is a contract that reflects the price of an underlying asset.
  • Brokers offer the best Bitcoin trading platforms because their products aimed at traders.
  • If you want to earn money from trading cryptocurrency, we recommend a CFD Broker on this page.

Forex and crypto are offered at FXOpen, and they have the ability to trade micro-positions, something that not all brokerages offer. ThinkMarkets was established in 2010 with headquarters in London and Melbourne. They also have hubs throughout Asia and the Pacific, as well as North Africa, Europe, South America, and the Middle East. They offer a range of markets including Forex, CFD offerings on equities, crypto, commodities, indices, futures, and more.

Once you’ve decided on a broker, got familiar with your platform and funded your account, it’s time to start trading. You’ll need to utilise an effective strategy in line with an efficient money management system to make a profit.

cryptocurrency brokers

CFD and Forex companies use an exchange rate that is an aggregate of different Crypto exchanges. Cryptocurrency is a virtual coin and is traded on cryptocurrency exchanges through cryptocurrency brokers.


You can also see platform-wide discussions about popular coins to help determine if their price will likely go up or down. Some offer both direct currency trades and CFDs, while others offer only one or the other. Finally, for traders who are new to the cryptocurrency world, CFDs can just be simpler to get started with. You don’t need to set up a digital wallet like you would when trading digital currencies directly. As of this writing, Binance occupies the first place among all the cryptocurrency exchanges with a 24-hour trading volume of more than $1.3 billion, and that too by a fair distance.

All profits gained from the growth of XRP will be nominated directly in BTC. The principal value of BTC will also increase due to the growth of the BTC as an asset. It offers the ability to not only trade crypto through the CFD market, but also deliverable crypto directly to your wallet. It has professional institutional grade research as well, and as a result it is quite often used by professional traders.

In their user agreement, Robinhood Crypto states that they may receive activity-based rebates from Crypto exchanges, brokers, and market-makers, among other crypto intermediaries. Bottom line, since Robinhood is not transparent with its pricing structure, there is a possibility the all-in costs per trade are actually much higher than some competitors. The best crypto exchanges for US bitcoin trading offer three essential benefits. The first, and most important, is robust security with two-factor authentication, cold storage, and integrated safe wallets.

Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. The cryptocurrency trading platform you sign up for will be where you spend a considerable amount of time each day, so look for one that suits your trading style and needs.

While some traders like to own the currency directly, others turn to the futures market. Futures may be an even more attractive way to play the volatility of digital currencies such as bitcoin, because they allow traders to use leverage to magnify their gains . Cryptocurrency, especially bitcoin, has proven to be a popular trading vehicle, even if legendary investors such as Warren Buffett think it’s as good as worthless.

Crypto Broker Leverage

At most fxcm, your broker also has access to your wallet so that assets can be bought and sold more smoothly. The fees you’ll most want to watch out for, especially if trading cryptocurrency CFDs with leverage, are overnight fees. When you hold a leveraged position overnight, your brokerage will charge you interest on the money you’re borrowing as part of your leveraged position. Unfortunately, the spread isn’t the only fee charged by most cryptocurrency brokers. Some charge commissions on every trade, while others charge inactivity fees if you don’t place a trade more than once every few months.

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