Crypto brokers

Cryptocurrencies are volatile in their very nature, but if you want to trade with bigger capital than you have you can take advantage of leverage.

Real forex bonuses

Best Cryptocurrency Brokers to trade with in 2021, crypto brokers.

All brokers that are regulated in the EU follow ESMA laws and offer leverage 2:1. Remember, however, that leverage does not only multiply your earnings but also your losses, should your prediction be incorrect. In australia and south africa, the most prominent financial regulators are the ASIC and FSCA, respectively.

Best cryptocurrency brokers to trade with in 2021

5 popular regulated crypto brokers

Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading cfds.
You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

The cryptocurrency market is more live than ever. If we want to get on the right track right from the beginning, we need to choose our crypto broker carefully. Every broker offering crypto trading is not the same. If a broker meets the requirements of one particular client, it does not mean that it will also meet yours. There are several aspects to think about when choosing your cryptocurrency broker.

How to go about choosing the best crypto broker

Regulation and reputation

To avoid being scammed or treated unprofessionally you should trade solely with regulated brokers. Only brokers that are regulated in your jurisdiction can legally offer services to you, such companies are under constant supervision of the regulatory body. There are 2 major financial regulators in europe; the cysec and FCA. A broker that is regulated by one european regulator has the right to provide cross-border services to other members of the european economic area.

A broker that is, for example, regulated in cyprus by the cysec provides the same investor protection even for a trader from the UK, germany, netherlands or any other EEA country member.

In australia and south africa, the most prominent financial regulators are the ASIC and FSCA, respectively.

Cryptocurrencies we want to trade

Before you open your trading account at a brokerage company, you have to first to find out whether the broker you are considering offers all the cryptocurrencies you want to trade. Bitcoin, ethereum, and litecoin can be traded almost everywhere. Less popular cryptocurrencies like IOTA, monero, zcash, and others might, however, not be available on every trading platform. In case you want to trade them at any point, keep this in mind and make sure it will be possible.

Leverage – multiplying your capital

Cryptocurrencies are volatile in their very nature, but if you want to trade with bigger capital than you have you can take advantage of leverage. All brokers that are regulated in the EU follow ESMA laws and offer leverage 2:1. Remember, however, that leverage does not only multiply your earnings but also your losses, should your prediction be incorrect.

Negative balance protection – necessity

You probably do not want to trade with a broker that does not include negative balance protection in the package. The negative balance protection feature ensures you never lose more money than you invest. All users that trade with a broker that is e.G. Licensed by the cysec regulator are protected against negative balance.

Appropriate capital according to your possibilities

How much do you plan to trade with? Does your crypto broker offer to trade with a small starting capital? If not, is it an obstacle for you? Or do you plan to trade in big in order to make that big money? Decide for yourself before you choose your cryptocurrency broker.

Fees – as low as possible

Let's face it, no one really likes them, but they are always there. Yes, we are talking about fees. We know that brokers have to finance their operation somehow, but the lower the fees are, the better. In general, most cryptocurrency brokers we know charge your account with a spread (i.E the difference between the ask and bid price) and with an overnight fee. It is quite hard to determine which broker has the lowest fees as they are not fixed and they tend to change according to the current market conditions. They are also quite different for bitcoin as well as other cryptocurrencies, so while one broker might have very competitive spreads on bitcoin, they might charge high spreads on stellar, or other altcoins. For that reason, the best practice is to open a demo with a reputable company to see what spreads a broker charge in real-time on cryptocurrencies you want to trade.

Overnight fees

While the spread is plausibly the most substantial fee you will have to face when trading, you should also know how big is the overnight fee charged by your broker. The overnight fee is deducted from your balance if you stay in a position overnight. This expense should be monitored especially by traders who want to hold on to their cryptocurrencies for a while.

Trading platform

To beat their competition, the world's leading cryptocurrency brokers try to attract clients to an intuitive trading environment suitable for both experienced and inexperienced traders. Almost all brokers include in their offer technical analysis tools and basic risk management features like a stop loss or take profit. Most companies do not, however, limit their offer only to the mentioned necessities and also offer price alerts, advanced educational centres or perhaps even a social trading network. Here are a few special features that one of the top european and australian crypto providers have to offer.

Broker	special features	special features
etoro	allows you to follow and copy other traders	30 crypto pairs
XTB	MT4 & xstation 5	comprehensive educational centre
plus500	price alerts (via an email or SMS), beginner friendly trading platform	trailing stop
IQ option	an award-winning in-house built platform, online chat with other traders	crypto digest videos (twice a week)
capital.Com	A wide range of crypto crosses pairs

5 popular regulated cryptocurrency brokers

Etoro

Plus500

IQ option

Roinvesting

The best crypto broker – FAQ

�� what is the best cryptocurrency broker?

To answer what is the best cryptocurrency broker, we would have to know your needs and preferences. Having said that, you should look for a broker that is regulated in your country, has competitive fees and features cryptocurrencies you want to trade.

Regulation

If you are based in europe, you should look for a broker that is regulated in at least one european country. The most common financial regulator in europe is the cysec which is headquartered in cyprus. If you are based in australia, look for the ASIC regulation (A regulatory body that oversees the financial market in australia). If you are based in the US look for the CFTC regulation.

The number one fee when trading with a CFD broker featuring cryptocurrency trading is going to be the spread. Visit a broker that you look and check their website to see what spreads they charge. You can find this info either directly on their trading platform or on a page that is dedicated to the broker’s fees.

Tradable cryptocurrencies

Each broker features different assets. The most common ones usually have all brokers, but if you are looking to trade some less popular altcoins, make sure your broker offers them.

�� can I try cryptocurrency trading risk-free?

Yes, you with most cryptocurrency brokers you can open a free demo account on which you can trade with play money. No initial deposit required.

⭐ what cryptocurrencies can I trade with cryptocurrency brokers?

It depends on what crypto broker you choose. Nearly all cryptocurrency brokers feature bitcoin, ethereum and ripple, but only some allow trading other-less popular coins. In this article, you could find all cryptocurrencies that some of the best crypto broker feature.

Conclusion – the best crypto broker

It would be easy to point a finger and say this is the best crypto broker for you to choose. We, however, know that each client has different preferences so while one trader might want a trading platform with the lowest spreads to day trade cryptocurrencies, the other might rather appreciate a copy trading system to follow the world’s most successful investors. The brokers featured in this article are one of the most popular regulated cryptocurrency brokers out there, the decision what is the best crypto broker for YOU is, however, in your hands.

- 3# crypto chart patterns for day trading
- the best hodling techniques
- how to short any cryptocurrency like a pro

And much more can be found in our crypto section.

2 comments

Hi michael. I’m retired and simply want to augment my pension with some of the crypto gravy. I have no idea where to start, I only now trade some stocks.
I’m getting some ads with amazing sounding promotions. Brokers that promote a 90% win robot, then when you sign up, a broker – usually from london – calls to see if they can help you trade. I want hands off till I learn. Is there anyone licensed you trust that can provide trading for me. I’ll send in some funds, and they can manage it and take a small cut. Is there a good brokerage out there?

Hello ian,
I bet there are many people who would love to trade with your funds, but be very careful. From my experience, 99% of robots do not work and the people behind them are simply scammers. That being said, you have two options if you want to get in cryptocurrencies. You can either learn how to trade on your own (the better option) or you can use a copy-trading system. Etoro has probably one of the most sophisticated copy-trading systems out there, so that could be your pick. Once you log-into to their platform, find a trader who trades cryptocurrencies and has stable performance. After that, you can start copying his/hers trades (this is done automatically). Best of luck ian!

PS: all brokers that are featured on this page are regulated either by the british financial conduct authority or by the cysec in cyprus.

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

Top 10 online cryptocurrency trading brokers

The pioneer of social trading is now offering an exclusive opportunity for investors who want exposure to the most popular cryptocurrencies like bitcoin, dash, ethereum and more. Trade crypto 24/7 at etoro with no rollover fees!

World's leading social trading platform

Proven track record of security

Unlimited daily withdrawals

Min. Deposit of $200 to get started

Instant trade execution

Pepperstone has won numerous industry awards for innovation and excellence in CFD brokerage. Pepperstone is an australian-based online ECN forex broker with some of the industries lowest spreads.

Award winning CFD broker

No deposit or withdrawal fees

Fee-free funding options

Razor spreads from 0.0 pips

Easymarkets was formed by bankers and forex experts and has been serving the forex market for 16 years, with transparent pricing, fixed spreads and no commissions on deposits or withdrawals.

Demo account is unlimited

Trade bitcoin with no slippage - ever!

No commissions or sneaky fees

T&C's apply to each of the offers above, click "visit site" for more details.

Risk warning: users should be aware that all investment markets carry inherent risks, and past performance does not assure future results. Trading of any kind is a high-risk activity, and you could lose more than you initially deposited. Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 73-89% of retail investor accounts lose money when trading cfds. Please be sure you thoroughly understand the risks involved and do not invest money you cannot afford to lose. Your capital is at risk. Advertiser disclosure: topbrokers.Trade is an independent professional comparison site funded by referral fees. The compensation topbrokers.Trade receives is derived from the companies and advertisements featured on the site. Due to this compensation, we can provide our users with a free comparison tool. Unfortunately we are unable to list every broker or exchange available, however, we do our best to review as many as possible.

Pepperstone has won numerous industry awards for innovation and excellence in CFD brokerage. Pepperstone is an australian-based online ECN forex broker with some of the industries lowest spreads.

Easymarkets was formed by bankers and forex experts and has been serving the forex market for 16 years, with transparent pricing, fixed spreads and no commissions on deposits or withdrawals.

How to get started in cryptocurrency trading

As the trade volumes are reaching billions of dollars a day and the market caps are hitting tens of billions of dollars, it is no wonder that cryptocurrencies fuel the modern day gold rush. Today is an age of digital currencies, with hundreds of cryptocurrencies birthed within the decade. There are already more than a thousand cryptocurrencies in the market, and almost daily a new initial coin offering (ICO) appears.

What is cryptocurrency?

Today, the most famous cryptocurrency is bitcoin. Its inventor attempted to build a “peer-to-peer electronic cash system”. Many have tried this system many times before. However, the main difference between bitcoin and the previous efforts, like digicash, was that it was to be entirely decentralized. Since no overarching entity is controlling the currency, the notion of “trust” would be eliminated from the system.

To combat “double spending”, the major problem in all the digital cash systems at that point, satoshi nakamoto, bitcoin’s inventor, proposed the blockchain technology. The blockchain technology is a revolutionary technology that records all the transactions made with this currency.

For any single balance, transaction, or change to the network to take place, there needs to be a consensus amongst those who validate the network – the miners. Since the invention of bitcoin, many programmers have attempted to use the model and change it to provide what they consider a more functional form of digital cash.

The other kinds of cryptocurrencies include monero, new economy movement, litecoin, and ether. Many of these cryptocurrency efforts tailor their currency for an individual and particular purpose. Some of the most common purposes are speed, privacy, and price.

What are cryptocurrencies used for?

Since cryptocurrency is such a new technology, it may be that people have not used it yet for its eventual use. Still, today people utilize it for many various purposes. These purposes include, but aren’t limited to the following: trading, remittances, payment for goods and services, investment, gambling, private monetary transactions, and as a hedge against national currencies which are suffering from rapid devaluation (greece, venezuela for example).

As the whole cryptocurrency space begins to expand, it’s likely that we will see some additional applications joining the list of purposes for the crypto currency. There are already young services such as steemit, which aims to revolutionize the way people pay for content on social media, in addition to services like musicoin which attempts to find a more equitable way to pay artists without the need for a middleman.

What is the difference between bitcoin and ethereum?

All cryptocurrencies have their own characteristics. However, recently one coin has come to challenge bitcoin more than ever before. Ethereum is the new player on the market. The reasons that it is a challenge to bitcoin are easy to understand.

Ethereum emerged as an effort to try to correct some of the main criticisms made towards bitcoin – especially regarding security.

What ethereum has accomplished to do was to provide transactions that are safer, more flexible contracts that are compatible with any wallet, with short block times for negotiating (where the confirmations are easier). Also, ethereum is available more than bitcoin. Whereas more than two-thirds of bitcoin has already been mined, access to ethereum is still widely available. Another main difference between these two cryptocurrencies is that ethereum allows for different developers to raise funds for their projects. It can, therefore, be in itself a kickstarter for some projects.

One of the main advantages to ethereum is that it’s a more secure, easy to use, flexible, and transact coin. In addition to this advantage, it has brought innovations in terms of entrepreneurship and investment. And this is posing a serious challenge to bitcoin’s market cap.

What is the difference between a cryptocurrency exchange and a cryptocurrency broker?

You can invest in cryptocurrency in two ways. First, cryptocurrency can be bought and sold at a cryptocurrency exchange and stored in a digital wallet. The second method would be to invest in crypto as a CFD with regulated cryptocurrency brokers. With CFD cryptocurrency trading, the digital currency is treated as a speculative investment and traded as a contract for difference (or CFD), through brokers.

Platforms that allow traders to buy and sell cryptocurrencies are cryptocurrency exchanges. Dues to the fact that it is a very recent – and booming – market, the majority of these platforms are relatively new. But, of course, one of the essential questions that people ask is how to know if a particular platform is safe or not.

The only way that you can find out is to check if the exchange provides transparent data of the coins that are in cold storage. What this means is, whether it has the reserves that it requires to provide liquidity to its activities. You can find check this easily by checking whether an exchange is regulated or not.

Trade cryptocurrency online using CFD services

If you are interested in trading because of the opportunity to profit from the incredible volatility of cryptocurrency, your best option is to use an online trading platform that allows CFD services. Currently, there are very few CFD platforms that allow this kind of trade, so to see available options refer to our recommendations above.

CFD brokers are a great option if you want to trade cryptocurrencies with the option to accept multiple forms of payment. If you want to buy cryptocurrency with paypal, you can, and these forums also accept major credit cards and wire transfers as well. Furthermore, if you choose to trade through a forex or CFD platform, you will pay the lowest commissions possible. That is in comparison to other investment alternatives. CFD and forex companies use an exchange rate that is an aggregate of different crypto exchanges.

Trading cryptocurrencies – getting started with cfds (contracts for differences)

Cryptocurrency cfds allow you to trade digital coins without actually owning any. Crypto cfds were generated to give traders exposure to the cryptocurrency market without the need for ownership.

Contracts for differences, also known as “cfds,” represent a contract between trader and exchange. Cfds declare that the difference between the price on entry and the price on exit will be a trader’s profit or loss. Basically, cfds are an agreement held between two parties that simulate an actual asset.

How to make money trading crypto

There are several ways to make money cryptocurrency trading. The most popular is trading bitcoin against the US dollar, known in market terms as the BTC/USD pair. The first method is to find a top cryptocurrency broker and to invest in a digital currency in the same way that you would do with a physical currency – by buying low and selling high. Since cryptocurrency is highly volatile, you should be able to identify the dip with studying and market research.

Read on to learn how to find the best cryptocurrency brokers. Be sure to review the platforms we suggest above, all are fully-registered and come highly recommended. For additional information regarding trading cryptocurrency as a CFD, check out our guide on “the basics of cfds“. It’s important that you remember that leverage works both ways and it will magnify the gains and losses.

How to choose the best cryptocurrency trading broker online

Because there’s so much competition in the market as well as having countless cryptocurrency brokers to choose from, it can be difficult to know which option will be best for you. Here are a few key points we suggest keeping in mind when deciding how to best invest:

Regulation

Each country has its own regulatory body. The regulatory body develops rules, services and programs to protect the integrity of the market. The regulators protect traders, and investors as well as the cryptocurrency brokers themselves. Their main obligation is to help members meet regulatory responsibilities. Due to potential safety concerns regarding deposit, you should exclusively open accounts with regulated firms.

Customer service

Cryptocurrency trading takes place 24 hrs a day, so customer support should be available at all times. Ideally, you will want to speak with a live support person rather than a time-consuming auto-attendant. Give a call to the customer service centre to get an idea of the type of customer service provided. Check on wait times and find out the representative’s ability to answer questions regarding spreads and leverage, trade volume, and company details.

Account types

Your ideal cryptocurrency trading broker should be able to offer either multiple account options or an element of customizability. Look for cryptocurrency brokers that offer competitive spreads and easy deposits/withdrawals.

Currency pairs

Cryptocurrency brokers can provide a selection of cryptocurrency pairs. However, it is most important is that they provide the variety of pairs that interest you. While there are many digital currencies available for trading, there are only a few get the majority of the attention, and as the result, trade with the highest liquidity.

Platform type

The trading platform is the investor’s portal to the markets. With that in mind, look for a platform that’s easy to use, straightforward and offers an advanced collection of analytical and technical and tools. These features will help to enhance your trading experience.

Here at topbrokers.Trade, we take pride in providing the best possible trading brokers comparison, reviews and ratings. These reviews enable you to select the best trading platform for your needs. We don’t just help you to pick a great place to trade, but also do everything that we can, to show you how to get started. For more information on cryptocurrencies, please see our tutorial: the basics of cryptocurrency

Crypto brokers

19 min beginners beginners

At the dawn of blockchain, virtual coins were traded through dedicated cryptocurrency exchanges or via the OTC market, where the buyer and the seller arranged to purchase and sell coins directly between themselves.

However, as time passed, cryptos turned from a niche thing known to a small group of computer geeks into a wildly popular speculative asset that required more trading tools and options. That is where contracts for difference - or cfds for short - came in handy. It has been a favorite instrument for trading anything from gold to soybeans for decades, and now it is widely used to speculate on cryptocurrency price movements.

Let's take a closer look at what is CFD and how it can be used to gain exposure at cryptocurrency market.

What is CFD and how it fits in cryptocurrency trading

Contracts for difference are financial derivatives made in the form of futures contracts concluded between a trader and a broker and settled in cash payments rather than by the delivery of physical goods or assets.

Basically, CFD traders do not actually deal with the underlying asset; instead, they get the right to receive the difference between the current cost of an asset and its future value. If traders are right with their predictions of the asset's future value they pocket the price difference; otherwise, they have to cover the loss, by paying the price difference to the broker. This system works nicely for any type of the asset, including cryptocurrencies.

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Is bitcoin about to resume its uptrend?

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Forex today: US stimulus and coronavirus to keep driving financial markets

Forex today: unimpressive central banks, dollar in trouble

How it works

Let's say you are sure that the price of bitcoin will rise substantially soon and you want to profit from that price movement. You may go out and buy some coins at a cryptocurrency exchange, but the procedure is pretty tiresome and sometimes complicated especially when your investment horizon is a couple of hours, and you are a not experienced in dealing with digital money. In this case, you can opt for buying a contract for difference, instead of purchasing real bitcoin, or even a futures contract that usually implies longer time-frames and higher fees.

Most of the major trading companies have already responded to the growing interest in crypto trading and added cfds for various digital assets to their lists of tradable instruments. It means that you won't have problems finding a broker with suitable trading conditions. For example, you may sign a contract for difference with etoro or any other trading company at a current price with the settlement at the end of business day.

If you got it right about the future price movements and bitcoin grows higher within the lifespan of the CFD, the broker pays you the difference. On the other hand, if your forecast proves to be wrong, you lose money as you have to compensate the price difference to the broker. Basically, you bet on whether the price of the asset will drop or rise within a specific time. As neither you nor your counterpart has to own actual bitcoins to do that, contracts for difference offers investors hassle-free and straightforward way to generate profits on changing cryptocurrency market conditions.

Advantages of cryptocurrency CFD trading

A lot of traders seek cryptocurrency exposure with established brokers via cfds as this type of investment option has various benefits over direct buying and selling cryptocurrencies.

Easy start

Direct cryptocurrency trading is often associated with technical issues. People who are not tech-savvy are sometimes scared by wallet opening procedures, a verification process on a cryptocurrency exchange and other crypto-related nuances. They tend to resort to familiar brokerage services with a long experience of customer relations, easy account set-ups, and one-click trading features. Apart from that, those engaged in CFD trading for other products are more likely to use this instrument to add cryptos to their existing portfolio of cfds and benefit from their price movements.

Leverage trading

Access to high leverage opportunities is probably the most popular reason for trading cryptocurrencies via CFD. This tool allows trading with more capital than a trader actually has. It means that with a 5:1 leverage you need only $500 to open a position worth $2,500 and earn a considerable profit even with small price movements. As regulatory requirements towards digital assets do not bind brokers, they are free to decide on how much leverage to offer. That is why margins on cfds are usually higher than on futures contracts or the underlying asset. However, leverage increases both earning opportunities and potential losses, which means that one needs to be extra careful when trading cfds for cryptos with leverage.

Leverage is offered by the vast majority of brokers, while most cryptocurrency exchanges - apart from bitmex, kraken, and poloniex - do not support this option.

Advanced technical instruments

While trading cfds for cryptos with a traditional broker, you have a wide choice of technology and risk management instruments, including stop loss and take profit tools. Considering the notoriously high volatility of the cryptocurrency market, they may come in handy and protect you from devastating losses. At the same time, advanced charting tools and analytical support offered by brokers help to make informed investment decisions and improve your overall performance.

Speed of trading

As in case of CFD, you do not actually buy or sell digital assets; all your transactions are executed in a split second on the broker’s trading platform. It gives you flexibility and allows to react quickly to market movements. Meanwhile, cryptocurrency transaction on blockchain may take hours and even days, depending on the coin and the network capacity, which means that traders won't be able to benefit from rapid market changes.

Customer support

Customer support is useful when you need assistance on how to set up an account or make a trade or you face some technical issues. While all CFD brokers provide support via multiple channels, including email, phone, and live chat, the majority of cryptocurrency exchanges keep their customers waiting for ages or leave them to resolve the problems on their own.

Better regulation

Most CFD brokers are regulated by cysec, FCA, or some other reputable financial watchdog. It means that customers of a trading company are better protected from fraud, bad practice and outright theft. Moreover, in case of bankruptcy or other similar adverse circumstances, traders may apply for compensation and get all or some of their money back.

Disadvantages of cryptocurrency CFD trading

For all its benefits and value-adds, cfds for cryptocurrencies has some drawbacks and pitfalls, worth considering before putting your money in it.

Price considerations

CFD crypto trading comes with a price in the form of a spread, which represents the difference between the buying and selling prices. You pay it anyway, irrespective the outcome of the trade, that is why you will initially experience losses at the time you enter into a crypto CFD position. The less liquid and riskier an underlying asset is, the wider the spread you pay.

Apart from that, all CFD brokers charge fees for holding a CFD position from one day to the next. They are based on a percentage from the LIBOR rate and may be really high for bitcoin and other cryptocurrencies due to their volatile nature. As a result, the expected price movement should be more significant to covers the trading commissions and bring profit.

Trust considerations

Trading cryptocurrencies with a CFD broker is based on a significant amount of trust. You need to make sure that the prices on your broker's platform are in sync with general market movements and sourced from an exchange. Some unfair brokers may manipulate the cryptocurrency prices which might lead to unnecessary losses on clients' accounts. Moreover, some CFD brokers have already shut down cryptocurrency trading, which makes them less reliable in terms of continuous service.

Best cryptocurrency brokers

Luke jacobi

Contributor, benzinga

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 and 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 for security: kraken

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

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.

Pricing

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.

Pricing

Account minimum

8. Best for security: kraken

Kraken takes a comprehensive approach to protecting your investments and builds in a number of sophisticated methods to prevent money or information theft.

Financial stability with full reserves

Healthy banking relationships

The highest standards of legal compliance

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.

Best cryptocurrency brokers to trade with in 2021

5 popular regulated crypto brokers

How to go about choosing the best crypto broker

Regulation and reputation

A broker that is, for example, regulated in cyprus by the cysec provides the same investor protection even for a trader from the UK, germany, netherlands or any other EEA country member.

In australia and south africa, the most prominent financial regulators are the ASIC and FSCA, respectively.

Cryptocurrencies we want to trade

Leverage – multiplying your capital

Negative balance protection – necessity

Appropriate capital according to your possibilities

Fees – as low as possible

Overnight fees

Trading platform

Broker	special features	special features
etoro	allows you to follow and copy other traders	30 crypto pairs
XTB	MT4 & xstation 5	comprehensive educational centre
plus500	price alerts (via an email or SMS), beginner friendly trading platform	trailing stop
IQ option	an award-winning in-house built platform, online chat with other traders	crypto digest videos (twice a week)
capital.Com	A wide range of crypto crosses pairs

5 popular regulated cryptocurrency brokers

Etoro

Plus500

IQ option

Roinvesting

The best crypto broker – FAQ

�� what is the best cryptocurrency broker?

Regulation

Tradable cryptocurrencies

Each broker features different assets. The most common ones usually have all brokers, but if you are looking to trade some less popular altcoins, make sure your broker offers them.