Best Forex Brokers and Exchange Platforms for Litecoin (LTC) Trading

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In the recent times, especially the last year, there has been an increased interest in cryptocurrencies trading because of their phenomenal rise. Among them, Litecoin often referred to as the “silver of cryptocurrencies”, has seen a steep price growth over the last year. This peer-to-peer cryptocurrency is also an open source project and it was inspired Bitcoin. Even in terms of technical details, it resembles Bitcoin a great deal. Like all other cryptocurrencies, Litecoin is also not managed by a central authority. The coin is created and transferred on the basis of an open source protocol.

Litecoin, launched in October 2011 by former Google employee Charlie Lee, is actually a Bitcoin Core client fork. The primary differences are the reduction in the block generation time and the increase in the number of coins. In addition to following a different hashing algorithm, Litecoin also has a GUI that is slightly modified.

Following the massive growth in November 2013, Litecoin’s market capitalization hit the US$1 billion mark. By the end of last year, its market capitalization zoomed to around US$20.0 billion and the cryptocurrency was valued at around US$152.00.

Top Online Brokers and Exchange That Offer Litecoin Trade

Broker Info Bonus Open Account
HYCM Forex broker Min Deposit: $100
Spread: From 1,5 Pips
Leverage: 1:200
Regulation: FCA UK (#186171), CySEC (#259/14)
25% Welcome Bonus up to $5,000 Visit Broker
binance logo Min Deposit: 0
Spread: Non-Spread, Fee 0.1% Per Trade
Leverage: Non-Leverage
Regulation: -
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iq option best binary options brokers Min Deposit: $10
Spread:
Leverage:
Regulation:
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xm best forex broker Min Deposit: $5
Spread: From 1 Pips
Leverage: 888:1
Regulation: ASIC, CySEC, FCA (UK), BaFin, CNMV
15% Welcome Bonus, Loyalty Program Bonus Visit Broker
FXOpen ECN Broker Min Deposit: $300
Spread: floating, from 0 pips
Leverage: 500:1
Regulation: FCA UK reference number 579202
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plus500 best forex broker review Min Deposit: €100
Spread: The Spread can be as low as 0.01%” (0.01% = spread for EUR/USD)
Leverage: 1:294
Regulation: ASIC, CySEC, FCA (UK)
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etoro best forex broker USA Min Deposit: $200
Spread: From 3 Pips
Leverage: 400:1
Regulation: NFA, CySec
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avatrade forex cfd broker Min Deposit: $100
Spread: Starting From 0.9 pips
Leverage: 400:1
Regulation: MIFID, FSB & ASIC
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No Deposit Bonus Instaforex Broker Min Deposit: $1
Spread: Fixed Spread From 3 Pips
Leverage: Up to 1:1000
Regulation: CBR, CySEC and FFMS
30% Forex Deposit bonus Visit Broker

As is the case with all cryptocurrencies, Litecoin can also be traded in ways. You can trade Litecoin on the platform provided by a cryptocurrency exchange or on a forex broker’s platform. There are a few differences between these two options:

Firstly, Litecoin is traded in the form of CFDs forex broker platforms. CFDs are derivatives and they mimic the underlying asset’s (the coin’s) price movements. In this case, you don’t have to actually own the coin.

Best Forex Brokers and Exchange Platforms for Litecoin (LTC) TradingInitially, this may appear to be a not-so-good option when compared to owning the coins. However, there are a number of benefits of trading on forex brokers’ platforms. Regulated forex brokers are definitely safer compared to wallets and cryptocurrency exchanges. Moreover, forex brokers accept payments through credit cards, Paypal, and Skrill, among others. On the other hand, most crypto-exchanges accept payments only in USD, EUR, or a few cryptocurrencies. Additionally, forex brokers allow margin trading. This is not available on exchanges. However, margin trading is best done with a great deal of caution.

It is not easy to compare the cost of trading in both the cases. A forex broker that offers Litecoin CFDs earns through the spread. On the other hand, exchanges earn by charging a fee of 0.2 per trade.

Having said this, here are few of the best forex brokers and exchange platforms for Litecoin Trading:

#1: eToro

eToro, an online forex broker, offers trading in currencies, indices, commodities and CFD stocks. More than 4.5 million users from over 170 countries around the world make use of the online forex broker’s website. Founded in 2006 in Tel Aviv, the multi-asset brokerage company has registered offices in Israel, the United Kingdom, and Cyprus. One of the key features of eToro is the social investment platform with Copy-Trading feature that it offers. On their platform, you can trade and invest in Stocks, Indices, Commodities and Currencies CFDs.

Broker Type – Market Maker
Regulation – Cyprus Securities and Exchange Commission (CySEC), Markets in Financial Instruments Directive (MiFID), Commodity Futures Trading Commission (CFTC), Financial Conduct Authority (FCA), National Futures Association (NFA), Australian Securities and Investments Commission (ASIC)
Platforms – eToro OpenBook, eToro WebTrader, eToro Mobile Trader
Minimum Deposit – $50
Deposit Options – Bank Wire Transfer, Credit/Debit Card, Skrill, Moneygram, PayPal, Neteller, Webmoney, Western Union
Cryptocurrency Trading: BTC, Bitcoin Cash (BCH), ETH, XRP, LTC, DSH, XEM
Maximum Leverage – 400:1
Minimum Lot Size – 0.01
Spreads – Fixed
Lowest Spreads for EUR/USD – 3

#2: Plus500

The forex trading platform of Plus500, founded in 2008, is provided by Plus500CY Ltd., which is a company based in Cyprus and has its headquarters in Limassol. Plus500 offers CFDs on shares, commodities, indices, forex, etc.

Broker Type – Market Maker
Regulation – Cyprus Securities and Exchange Commission (CySEC), Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC)
Platforms – Windows Trader, WebTrader
Minimum Deposit – $100
Deposit Options – Bank Wire, PayPal, Credit Card, Skrill, etc.
Cryptocurrency Trading: BTC/USD, ETH/USD, XRP/USD, LTC/USD, DSH/USD, XEM/USD
Maximum Leverage – 50:1
Minimum Lot Size – 0.01
Spreads – Fixed
Lowest Spreads for EUR/USD – 2

#3: XM.com

XM.com, a trade name of Trading Point Holdings Ltd, is owned as well as operated by Trading Point of Financial Instruments Ltd, which is regulated by CySEC. It is also European Union-registered forex broker. XM has its headquarters in Limassol, Cyprus.

Operational Since: 2009
FSB License Number: XM.com has applied for license
Types of Accounts: Demo, Micro, Standard and XM Zero
All EAs and Scalping Allowed – Yes
Minimum Deposit: $5
Spread: Starts from 0
Leverage: Up to 888:1
Deposit Options: Visa/Master/Maestro/UnionPay Cards, Neteller, Skrill, Webmoney, Sofort, iDeal, paysafe, Qiwi, CashU, Local Bank Transfer and Bank Wire Transfer
Cryptocurrency Trading: BTC/USD, DSH/USD, ETH/USD, LTC/USD, XRP/USD
Trading Platforms: MT4 for PC and Mac; MT4 Multiterminal, MT4 WebTrader; MT4 for Android and iPhone; MT4 for Android Tablet and iPad
Bonus: Up to $5,000

#4: InstaForex

The brand InstaForex was launched in 2007. Currently, the forex broker has more than 3,000,000 customers. Further, over 1,000 customers open accounts every day. They enable ECN forex trading, contracts on derivatives and other instruments.

Broker Type – ECN
Regulation – RAFMM/CRFIN
Minimum Deposit – $1
All EAs and Scalping Allowed – Yes
Deposit Options – Credit Card, Liberty Reserve, Moneybookers, PerfectMoney, QIWI, RBK Money, Webmoney, Yandex.Money, Wire Transfer
Trading Platforms – MT4, MT5, WebTrader
Cryptocurrency Trading – CFDs in BTC/USD
Maximum Leverage – 1000
Minimum Lot Size – 0.01
Spreads – Fixed/Variable
Lowest Spreads for EUR/USD – 3 pips

#5: FXOpen UK

In 2013, FXOpen launched its online trading platform. FXOpen UK, based in London, is regulated by the Financial Conduct Authority in the UK.

Broker Type – ECN/STP
Regulation – FCA, UK
Platforms – Three versions of MT4
All EAs and Scalping Allowed – Yes
Minimum Deposit – $300
Deposit Options – Bank Wire Transfer, Credit/Debit Cards, WebMoney, Neteller, Skrill, Payza
Cryptocurrency Trading: Bitcoin, Ethereum, Litecoin, Namecoin and Peercoin against USD, GBP, or EUR; Total 24 pairs
Maximum Leverage – 500:1
Minimum Lot Size – 0.01
Spreads – Variable
Lowest Spreads for EUR/USD – Starts from 0 pips

#6: Avatrade

AvaTrade, a pioneer in the field of online forex trading from 2006 onwards, was created for the purpose of providing great online trading experience to retail traders. Within a short time, AvaTrade had more than 20,000 registered customers executing over 2,000,000 trades in a month around the globe. The total value of trades surpasses $60 billion in a month.

Broker Type – Market Maker
Regulation – Australian Securities and Investments Commission (ASIC); Central Bank of
Ireland; Financial Futures Association, Japan; Financial Services Board (FSB), South Africa and Israel Securities Authority (ISA)
Platforms – MetaTrader 4, AvaTrader
Minimum Deposit – $100
Deposit Options – Bank Wire, PayPal, WebMoney, Skrill, Credit Card, Neteller, Prepaid Master Card, etc.
Cryptocurrency Trading: Instruments in BTC, ETH, Ripple, Dash, LiteCoin, Bitcoin CFDs
Maximum Leverage – 400
Minimum Lot Size – 0.05
Spreads – Fixed
Lowest Spreads for EUR/USD – 3

#7: Binance

The Chinese cryptocurrency exchange Binance is fairly new to the digital currency market, but it has gained a great of popularity in a short period of time because of its Initial Coin Offerings and low trading fees. The exchange has the ability to process about 1.4 million orders in a second. It is the fastest exchange on the market.

You can use the platform for buying several digital currencies, including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, EOS, Dash, Bitcoin Gold, LiteCoin, NEO, GAS, Dash, Ripple, and Zcash, among others. Currently, they offer trading in cryptocurrency pairs in ETH, BTC, BNB, and USDT.

#8: CEX.io

The Bitcoin exchange Cex.io allows users to buy the cryptocurrency for low fees using credit cards. Purchases can also be made for free through bank transfers. The services offered by this exchange are available in many countries around the world, except a few specified by the platform provider. On the basis of verification, Cex.io offers four account levels with different buying limits. This Bitcoin exchange operates as a registered company in all of the districts in which it is present.

Cex.io combines crypto to crypto exchanges, fiat to Bitcoin exchange, and a mining pool. The company also offers trades in mining contracts or Bitcoin mining equipment rights for a specified period of time. In addition, the exchange offers USD/BTC and EUR/BTC pairs along with several crypto/crypto pairs.

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