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As of January 2021, the Financial Conduct Authority (FCA) has banned the sale, marketing and distribution to all retail consumers of cryptocurrency CFDs by firms acting in, or from, the UK. Read the FCA’s fulls statement here.

Cryptocurrency trading is a popular addition to CFD trading due to bitcoin’s popularity and the potential to profit from the wild changes in cryptocurrency value. With a rise in interest in cryptocurrency trading, unregulated brokers have sprung up to take advantage of unprepared newcomers. Always trade with a well-regulated broker. 

To test these brokers, we registered for a live trading account, verified the broker’s regulation, and confirmed the trading platform could perform technical analysis, execute trades quickly and with a wide variety of cryptocurrency pairs. More dependable brokers will offer a margin account, providing at least 2:1 leverage on crypto pairs, with trading conditions that won’t exhaust your profits. Always use a demo account to familiarize yourself with CFD trading before risking your capital. These are the best cryptocurrency brokers for 2021, according to our testing and our research.

English

Best Cryptocurrency Brokers 2021

Last updated on 22 Oct 2021
Updated 22 Oct 2021
by Editorial Director Jeffrey Cammackby Jeffrey Cammack
Jeffrey Cammack
All Brokers Regulated
All Brokers Regulated
by Trusted Authoritiesby Trusted Authorities
Trusted
1
eToro
Min. Deposit
USD 50
3.693.69
Crypto Pairs
16
Trading Desk Type
REGULATED BY
Overall Rating
1110.503.69/ 5
AlertAccepts UK Clients. Average spread EUR/USD 1 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. Only eToro proprietary trading platform supported. eToro is regulated by CySEC, FCA, and ASIC. 67% of traders lose money with this provider.
2
AvaTrade
Min. Deposit
GBP 100
4.484.48
Crypto Pairs
18
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.48/ 5
AlertAccepts UK Clients. Average spread EUR/USD 0.9 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA. 72% of traders lose money with this provider.
3
Admirals
Min. Deposit
GBP 100
4.244.24
Crypto Pairs
32
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.24/ 5
AlertAccepts UK Clients. Average spread EUR/USD 0.50 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & MT4 Supreme Edition platforms supported. Admiral Markets is regulated by ASIC, CySEC, the JSC, and the FCA. 76% of traders lose money with this provider.
4
Plus500
Min. Deposit
GBP 100
4.094.09
Crypto Pairs
9
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.09/ 5
AlertAccepts UK Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 30:1. Cryptocurrency availability subject to regulation. Islamic account available. Plus500 proprietary trading platform supported. Plus500 is regulated by FCA, CySEC, ASIC, and MAS. 72% of traders lose money with this provider.
5
IC Markets
Min. Deposit
GBP 200
4.464.46
Crypto Pairs
10
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.46/ 5
AlertAccepts UK Clients. Average spread EUR/USD 0.10 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. IC Markets is regulated by CySEC and ASIC.
6
Pepperstone
Min. Deposit
GBP 5
4.614.61
Crypto Pairs
5
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.61/ 5
AlertAccepts UK Clients. Average spread EUR/USD 0.69 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and the DFSA. 79.3% of traders lose money with this provider.
7
markets.com
Min. Deposit
GBP 100
4.494.49
Crypto Pairs
6
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.49/ 5
AlertAccepts UK Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 , and Marketsx platforms supported. Markets.com is regulated by the FCA, CySEC, ASIC, and the BVI FSC. 74.93% of traders lose money with this provider.
8
FP Markets
Min. Deposit
GBP 100
4.284.28
Crypto Pairs
5
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.28/ 5
AlertAccepts UK Clients. Average spread EUR/USD 0.10 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4& MT5. FP Markets is regulated by CySEC and ASIC.
9
BDSwiss
Min. Deposit
GBP 100
4.324.32
Crypto Pairs
26
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.32/ 5
AlertDoes not accept UK Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. BDSwiss is regulated by CySEC, FSC, and the FSA-Seychelles.*Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.3 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

How to compare cryptocurrency brokers

Cryptocurrency trading is not available at all brokers, and this can be for several reasons. Regulatory conditions restrict some brokers – for instance, the FCA has barred all UK-based brokers from offering cryptocurrency CFD trading. For other brokers it is a business decision to not offer crypto trading, and for some it is due to platform limitations. When comparing cryptocurrency brokers, consider: 

Regulation: Regulation, especially with cryptocurrency trading, is very important. Numerous illicit offshore brokers specialise in cryptocurrency trading, so always verify your broker’s regulation before making a deposit.

Demo accounts: This free account type should always be a starting point for any trader starting to trade crypto. Cryptocurrency is extremely volatile, and price patterns are much harder to predict, as limited fundamental data is available and all trading is done by examining charts.

Leverage: Leverage is typically much lower, between 1:5 and 1:10, for cryptocurrency pairs. While using too much leverage in highly volatile markets can devastate a trading account, traders will still want to access some leverage. Check that the leverage amounts match your risk appetite.

Number of cryptocurrency pairs: Some cryptocurrency traders will be happy with a smaller number of pairs, which will limit them to Bitcoin, Litecoin, and other coins against the USD. Some brokers and cryptocurrency exchanges will offer a wider range of crypto CFDs which will introduce more variety to your trading. Trading the same few crypto pairs will limit your cryptocurrency trading opportunities, and you will need to find other asset classes, like Forex or commodities, to trade in parallel. 

Number of FX pairs: Most cryptocurrency traders will also want to trade currencies. Just as the number of crypto pairs is important, so too is the same with the FX pairs. The more currency pairs available, the more variety you can have in your trading.

Transaction fees: Brokers may introduce a fee for trading cryptocurrency in addition to the spread. Spreads on cryptocurrency can be a lot wider than on fiat currency pairs, which means that large changes in prices will need to happen for a trader to profit.


Best cryptocurrency brokers for 2021

  • eToro - Largest Set of Cryptocurrencies to Trade
  • AvaTrade - Best Mobile Experience for Cryptocurrency Trading
  • Admirals - Best MetaTrader Tools
  • Plus500 - Free Withdrawal Cryptocurrency Trading
  • IC Markets - Best Cryptocurrency Broker for Beginners
  • Pepperstone - Best ECN for Cryptocurrency Trading
  • markets.com - Most Powerful Tools for Cryptocurrency Trading
  • FP Markets - Best Metatrader Execution
  • BDSwiss - Best Market Research Provider for Cryptocurrency Traders

eToro – Largest Set of Cryptocurrencies to Trade

Founded in 2007, eToro is a well-regulated market maker offering trading on numerous assets, including Forex, stocks, commodities, and over 96 cryptocurrency pairs, one of the largest sets in the industry.  With one live account, fees are included in the cryptocurrency spreads, but traders should note that cryptocurrencies are unleveraged products.  The minimum deposit to open an account is 200 USD, and eToro has a minimum withdrawal amount that varies, depending on the cryptocurrency.  Furthermore, as per the industry standard, cryptocurrency transactions, including transferring funds, also incur a fee.

eToro offers clients a unique trading experience on its popular bespoke crowd trading platform.  Its innovative copy trading tool allows clients to automatically copy the trades of more experienced traders, while its CopyPortfolio tool bundles together all tradable assets under one chosen market strategy to minimise risk and create diversified investments. 

Pros
  • #REF!
Cons
  • #REF!
AlertAccepts UK Clients. Average spread EUR/USD 1 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. Only eToro proprietary trading platform supported. eToro is regulated by CySEC, FCA, and ASIC. 67% of traders lose money with this provider.

Avatrade – Best Mobile Experience for Cryptocurrency Trading

A well-regulated market maker, Avatrade provides a reliable, user-friendly trading environment on a range of platforms, including its innovative mobile app – AvaTradeGO.  AvatradeGO allows traders to view their trades at a glance, create watchlists, and view live prices and charts.  It also allows traders to trade on more than 250 instruments, including 8 cryptocurrencies on its mobile app. 

Avatrade supports cryptocurrency trading 24/7, which means that traders can operate on the weekend.  Furthermore, unlike many other brokers that restrict clients by only allowing crypto to crypto trading, Avatrade clients can trade cryptos against Fiat currencies (USD, EUR, and JPY).  Lastly, Avatrade offers some of the best trading conditions on cryptocurrencies, but leverage is limited to 2:1 because of the volatility of the market. 

Pros
  • #REF!
Cons
  • #REF!
AlertAccepts UK Clients. Average spread EUR/USD 0.9 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA. 72% of traders lose money with this provider.

Admiral Markets – Best MetaTrader Tools

Admirals, formerly known as Admiral Markets, is an Australian broker offering trading on a wide range of assets, including 40+ Forex pairs, 32 cryptocurrency CFDs, metals, energies, commodities, indices, shares, ETFs, and bonds.  Trading is offered on both the MT4 and MT5 platforms, but traders can only choose between four crypto pairs on the MT4 platform and between 32 pairs on MT5, including 22 cryptocurrency pairs crossed with Fiat currencies, and 10 cryptocurrency cross pairs. The minimum deposit on the trading accounts is 100 EUR/GPB/AUD, leverage is up to 2:1, and trading is open 24/7 on pairs with EUR and digital crosses.  No commissions are charged. 

Admirals offers its own customised plugin for MetaTrader, known as the MetaTrader Supreme Edition.  This custom plugin was built by MetaQuotes for Admirals and adds powerful features to both the MT4 and MT5 platforms.  Included in the MetaTrader Supreme Edition is the Global Opinion toolset, which scans and contextualises millions of financial news stories and social media posts, providing traders with a dynamic view of market sentiment.

Pros
  • #REF!
Cons
  • #REF!
AlertAccepts UK Clients. Average spread EUR/USD 0.50 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & MT4 Supreme Edition platforms supported. Admiral Markets is regulated by ASIC, CySEC, the JSC, and the FCA. 76% of traders lose money with this provider.

Plus500 – Free Withdrawal Cryptocurrency Trading

Plus500 is a leading CFD provider, renowned for the intuitive nature of its mobile platform, its excellent trading conditions, and the wide range of instruments available.  The Plus500 mobile app has the same functionality as the web platform, and traders will find it easy-to-use and feature-rich.   

In addition to Forex, indices, commodities, shares, options, and ETFs, Plus500 offers CFD trading on 11 of the most widely traded cryptocurrencies.  Plus500 offers traders leverage of up to 2:1 on crypto pairs, which is likely limited because of the volatility of the instrument, but cryptocurrency trading is available 24/7.  Plus500 also provides tools such as Price alerts and Stops to help traders manage their risk when trading on these extremely volatile instruments.

Trading is offered on one live commission-free account, and fees are included in the variable spreads.  Deposits and withdrawals are free, and Plus500’s customer service team is available 24/7 via Whatsapp and LiveChat for clients who trade on the weekend. 

Pros
  • #REF!
Cons
  • #REF!
AlertAccepts UK Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 30:1. Cryptocurrency availability subject to regulation. Islamic account available. Plus500 proprietary trading platform supported. Plus500 is regulated by FCA, CySEC, ASIC, and MAS. 72% of traders lose money with this provider.

IC Markets – Best Cryptocurrency Broker for Beginners

A beginner-friendly ASIC-regulated CFD broker, IC Markets offers trading on a broad range of instruments, including Forex, commodities, indices, bonds, and 12 cryptocurrency pairs.  Cryptocurrency trading is offered 24/7 at IC Markets, alongside 24/7 customer support, which is great for weekend traders and beginners who are trying to find their footing.  Leverage is up to 2:1 and all fees are included in the variable spreads.  Furthermore, IC Markets offers a broad range of trading platforms, including MT4, MT5, and cTrader, in addition to a number of copy trading platforms such as Zulutrade, and Myfxbook Autotrade, which are appealing to new traders. 

IC Markets also offers an impressive array of course material, including video tutorials, articles, frequent webinars, and IC Markets’ WebTV.  It also provides an extensive hub of market analysis materials including fundamental analysis, technical analysis, and an up-to-date market news section. 

Pros
  • #REF!
Cons
  • #REF!
AlertAccepts UK Clients. Average spread EUR/USD 0.10 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. IC Markets is regulated by CySEC and ASIC.

Pepperstone – Best ECN for Cryptocurrency Trading

Pepperstone is a leading ECN/STP broker that offers support for the MT4, MT5, and cTrader platforms.  It offers CFD trading on 180+ instruments, including Forex, indices, shares, commodities, 12 cryptocurrencies, and crypto baskets.  Pepperstone’s two ECN accounts offer lightning-fast, low latency trading and boast some of the tightest spreads in the industry.  Most trades are executed within 30 milliseconds, which is ideal for scalpers and those who run expert advisors. 

Pepperstone offers weekend trading on Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ripple, Polkadot, and more.  Traders can access leverage of up to 2:1, and no commissions are charged on the trades – all fees are included in the spread.  Its award-winning customer support is also available 24/7 to help traders with any account queries or technical questions. 

Pros
  • #REF!
Cons
  • #REF!
AlertAccepts UK Clients. Average spread EUR/USD 0.69 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and the DFSA. 79.3% of traders lose money with this provider.

Markets.com – Most Powerful Tools for Cryptocurrency Trading

A well-regulated market maker, Markets.com offers trading and investing on over 2,200 instruments on a broad range of trading platforms, including MT4, MT5, and its award-winning platform, Marketsx.  Markets.com offers one live commission-free account on which traders can choose between 25 cryptocurrencies and access leverage of up to 2:1. 

Marketsx is an advanced multi-asset platform packed full of features, including fundamental, technical, and sentiment analysis tools.  Traders can follow their crypto picks and turn knowledge into actionable trading opportunities with various sentiment tools.  The advanced charting package includes dozens of indicators and oscillators, including Forecasting, Long/Short position tracking, Elliott Wave, Fibonacci Retracement, and more.  Lastly, traders can stay on the pulse with custom alerts delivered to their phone, email, or on the platform.

Pros
  • #REF!
Cons
  • #REF!
AlertAccepts UK Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 , and Marketsx platforms supported. Markets.com is regulated by the FCA, CySEC, ASIC, and the BVI FSC. 74.93% of traders lose money with this provider.

FP Markets – Best Metatrader Execution

A leading CFD broker, FP Markets offers trading on multiple assets, including Forex, commodities, shares, metals, indices, and cryptocurrencies on both the MT4 and MT5 platforms.  With its low latency, lightning-fast trade execution, FP Markets provides the ideal conditions for scalping and those using Expert Advisors (EAs). 

FP Markets offers cryptocurrency trading, including Bitcoin, Litecoin, Ripple, and Ethereum on two live accounts – the Standard Account and the Raw Account.  Both accounts offer similar trading conditions, a leverage of up to 2:1, and no commissions.  The benefit of trading cryptocurrency CFDs through FP Markets is that one never owns the underlying asset, removing the need for a Crypto wallet. 

Pros
  • #REF!
Cons
  • #REF!
AlertAccepts UK Clients. Average spread EUR/USD 0.10 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4& MT5. FP Markets is regulated by CySEC and ASIC.

BDSwiss – Best Market Research Provider for Cryptocurrency Traders

A well-regulated market maker, BDSwiss offers trading on a broad range of tradable assets on three live accounts.  BDSwiss offers full support for the MT4, MT5, and its bespoke BDSwiss Webtrader application, featuring an extensive set of analysis tools and advanced charting. 

With 20 cryptocurrency pairs available for trading, including Bitcoin, Litecoin, Ripple, and Ethereum, no commissions are charged, and BDSwiss offers leverage of up to 5:1. 

The BDSwiss Trading academy and market analysis materials are some of the best in the industry.  Curated by a team of renowned market analysts and professional traders that provide 24/5 market news coverage, it is well-recognised by the global industry and its Research Team is often featured in world-leading publications. 

Pros
  • #REF!
Cons
  • #REF!
AlertDoes not accept UK Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. BDSwiss is regulated by CySEC, FSC, and the FSA-Seychelles.*Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.3 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

How Does Cryptocurrency Trading Work?

Cryptocurrency trading works in much the same way as classic Forex trading with three significant differences. Due to the extreme volatility of the cryptocurrency market:

  • Leverage is much lower (the maximum is often 1:10 or similar) and
  • Spreads are much wider (often in the range of 25-35 pips).

This is to protect brokers and traders from the wild swings often prevalent in the crypto market.

Finally:

  • The cryptocurrency market operates 24/7, as it does not rely on large financial institutions for liquidity.

Traders and brokers both know there is money to be made on cryptocurrencies, so brokers have adapted their trading platforms and customer support hours to provide a genuine crypto CFD trading experience.

What is a cryptocurrency?

A cryptocurrency is a digital currency with no asset or national backing. They can be used to make payments or make investments and are more commonly accepted all the time.

Cryptocurrencies are ‘mined’ using computers, once mined the new unit of currency is added to a blockchain – a public ledger of transactions. This is very different from traditional currencies, which are minted by a federal bank.

Cryptocurrencies have a theoretical limit on the number of coins that can be created. As long as there is a demand, this supply limit allows them to hold their value, and they can be viewed as an investment vehicle.

There are dozens of cryptocurrencies, but the most liquid and widespread are Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ripple, and EOS.

What is Blockchain?

Blockchain is a time-stamped digital record used to keep track of data. Much like a traditional notary, blockchain eliminates any possibility of backdating or altering digital data. With the introduction of digital tender, blockchain is used as a distributed ledger containing a register of transactions. Every block in a blockchain includes data, a unique hash (much like a fingerprint) and the hash of the previous block in the blockchain.

The data in a Bitcoin block stores details about transactions such as amount, sender and receiver. The hash identifies a block and its contents and is always unique.

Altering the information in a block will also alter the hash of the block, thus automatically making all the following blocks invalid as they no longer store a valid hash of the previous block.

Additionally, blockchain has a mechanism that slows down the creation of new blocks called “proof-of-work” to prevent tampering with data inside the blocks.

The ledger (transactions) are re-calculated every ten minutes by the machine with the greatest processing power. All the other computers on the network check and verify that the transactions entered are valid once the primary machine has completed the calculation.

If more than 50% of the computers agree on the outcome of the calculation, the new block of transactions gets included in the blockchain.

What is mining?

Mining is the process of adding new tender to the blockchain, in effect generating new tender. Mining uses high-powered computers, often powerful GPUs (graphic processing units), to find and verify the resulting coin, which is placed in a wallet associated with the computer.

What are Wallets?

A digital wallet allows a user to store coins and enables the movement of funds by the owner. An account is often referred to as an address or key, where the key is used to track the ownership of a cryptocurrency.

A wallet can also be a program or a physical device, some wallets are geared for a single digital currency or a few select digital currencies.

Trading Crypto CFDs

If your goal is to purchase these assets for an investment, you can buy them on digital currency exchanges, such as Coinbase. However, cryptocurrency pairs can be traded like any other Forex pair.

Like standard Forex CFDs, the value of a cryptocurrency CFD mirrors the currencies it follows. Each transaction is speculation on the value of the currency increasing or decreasing.

There are several benefits to trading these currencies:

  • You can use leverage
  • You can trade them at most Forex brokers
  • You don’t ever own the asset and only speculate on currency value changes

As mentioned previously, cryptocurrencies can experience extreme volatility. Bitcoin has seen a 250% increase in value against the USD over the last five months but has also experienced frequent crashes of over 20% in the same period. This is in stark contrast to the traditional fiat currencies where historical volatility is below 3%.

These currencies have similar traits to traditional ones. If you plan on trading these assets over the short-term, you should look for rapid changes in sentiment, as this will help predict future price movement. If you plan on trading over the long-term, watch for new information to affect value significantly.

Like traditional Forex trading, you can use your trading platform to execute trades, perform analysis and follow the news. Most brokers that offer cryptocurrency CFDs offer CFDs on other assets, which provides for a seamless transition if you are already accustomed to trading this asset class.

What Cryptocurrencies Should You Trade?

  • Bitcoin – The oldest and most liquid of them all is Bitcoin (BTC). It was established in 2009 by an unknown person using the name Satoshi NakamotoNakamoto to be used as a payment mechanism. In trading, BTC is commonly paired with fiat currencies such as the USD and EUR.
  • Ethereum – This is an open-source platform that uses blockchain technology. The critical function is smart contract programming. Ethereum is very liquid and experiences the same volatility expected from this market. The system went live on July 30, 2015, with 72-million coins.
  • Litecoin – This coin was built using the same open-source software that was used to create Bitcoin but uses a different license to make it more flexible. Litecoin was initially referred to as an alternative coin or altcoin and was created in October 2011.
  • Ripple – Founded as a payment system and currency exchange network by Ripple Labs Inc. The system was established in 2012, and Ripple can be traded versus several fiat currencies as well as other coins.
  • EOS– EOS operates as a smart contract platform and decentralised operating system. The system is fast and can execute millions of transactions in seconds. You can trade EOS against other coins and fiat currencies.

All Brokers with Cryptocurrency Trading

These are all the brokers we have reviewed that provide cryptocurrency trading, ordered by the number of cryptocurrency pairs offered. Note that some of these brokers are unregulated, and without regulatory oversight you funds are at risk.

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Broker
Overall Rating
Min. Deposit
Crypto Pairs
No. of FX Pairs
Unlimited Demo Account
Copy Trading
Regulators
Compare
4.68 /5
Read Review
GBP 20
128
0
4.24 /5
Read Review
GBP 100
32
0
4.32 /5
Read Review
GBP 100
26
0
4.12 /5
Read Review
USD 50
19
0
3.58 /5
Read Review
USD 250
19
0
4.48 /5
Read Review
GBP 100
18
0
3.69 /5
Read Review
USD 50
16
0
4.18 /5
Read Review
GBP 5
16
0
4.14 /5
Read Review
GBP 5
16
0
2.62 /5
Read Review
USD 25
15
0
3.13 /5
Read Review
GBP 10
12
0
4.14 /5
Read Review
USD 1
11
0
3.32 /5
Read Review
GBP 1
11
0
3.53 /5
Read Review
USD 10
11
0
4.46 /5
Read Review
GBP 200
10
0
4.00 /5
Read Review
GBP 5
9
0
4.09 /5
Read Review
GBP 100
9
0
4.69 /5
Read Review
GBP 250
8
0
2.85 /5
Read Review
USD 5
8
0
3.49 /5
Read Review
GBP 100
7
0
3.83 /5
Read Review
USD 1
7
0
4.34 /5
Read Review
GBP 5
6
0
4.49 /5
Read Review
GBP 100
6
0
4.08 /5
Read Review
USD 50
5
0
3.52 /5
Read Review
USD 500
5
0
3.83 /5
Read Review
USD 50
5
0
4.07 /5
Read Review
GBP 100
5
0
4.28 /5
Read Review
GBP 100
5
0
4.13 /5
Read Review
GBP 50
5
0
4.24 /5
Read Review
GBP 100
5
0
3.93 /5
Read Review
AUD 200
5
0
4.10 /5
Read Review
GBP 200
5
0
4.18 /5
Read Review
GBP 100
5
0
3.74 /5
Read Review
GBP 50
5
0
4.61 /5
Read Review
GBP 5
5
0
3.92 /5
Read Review
GBP 100
5
0
4.00 /5
Read Review
GBP 1000
5
0
4.07 /5
Read Review
USD 100
4
0
4.18 /5
Read Review
USD 100
4
0
3.49 /5
Read Review
USD 500
4
0
3.42 /5
Read Review
GBP 100
4
0
3.64 /5
Read Review
GBP 500
4
0
3.04 /5
Read Review
USD 100
3
0
3.98 /5
Read Review
GBP 25
3
0
4.33 /5
Read Review
GBP 10
3
0
3.93 /5
Read Review
USD 50
3
0
4.48 /5
Read Review
GBP 100
3
0

How are cryptocurrencies different from regular currencies?

Over the last decade the supply of money has grown exponentially; this has been the most significant growth in the supply of money in history. Central banks control our money system, and all currencies are government fiat currencies.

The issue with fiat currencies is that the more of money that is in a system, the more prices will rise. This increase in inflation will also cause the value of the currency to fall.

Both BTC and gold are similar in that there is a finite supply; this is in contrast to fiat currencies, where central banks can print more tender whenever they please. As such, there is a predictable rate at which Bitcoin is mined, like the predictable rate at which gold is added to the market.

How many Cryptocurrencies are there?

On July 3rd 2017, there were 34 – by June 5th 2019, there were 2216. The table below shows the top 10 cryptocurrencies by market capitalisation (as of September 6, 2019).

Source: coinmarketcap.com

Why Trade Bitcoin & Digital Coins?

These assets are known for their high volatility, thus creating more trading opportunities. Forex volatility has fallen to near record lows in the past ten years, often to less than 1%, while Bitcoin has had extreme volatility readings of 30% with an average volatility reading of 10%.

More volatility means more trading opportunities and larger profits, but at the same time, it also increases the sizes of the losses. Because of this volatility, you will find that brokers offer much lower maximum leverage for these pairs.

Analysing these pairs is easier because you don’t have fundamental data like GDP, CPI Inflation, unemployment rate or the business cycle to consider. Digital currencies are not influenced by fundamental macro data which will make the price action much easier to be read.

What To Look for in a Broker?

Find a well-regulated broker that provides a robust trading platform, where you can perform technical analysis with ease, execute trades quickly, with a wide choice of currency pairs.

You want to be able to buy and sell both fiat currencies, such as the dollar, yen, pound, and euro as well as versus other coins and commodities. In addition to a downloadable or web-based platform, you should also look for a broker with a mobile app.

Your broker should offer a margin account, allowing at least 10:1 leverage on most pairs, an education section to help you trade this fast-moving market, with trading conditions that won’t eat up too much of your profits.

Finally, find a brokerage with a demo account which will let you test drive the platform, and work out any kinks before you risk your capital.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. 

Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)

Our Methodology

Our State of the Market Report and Broker Directory are the result of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal. 

In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.

All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers.

References

Featured Brokers

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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