Top Forex Brokers for Cryptocurrency Trading

Free $100 Forex No-Deposit Bonus

Over the last few years, cryptocurrency trading has become one of the most attractive niches in forex trading. Other than it being extremely profitable, the lack of regulation is its biggest appeal. Still, cryptocurrencies like bitcoin, Ethereum ripple, dash, and Litecoin are dynamic, unstable instruments that need to be handled cautiously and in the most optimal way. To achieve this, you need to choose a trustworthy, well-established broker to carry out your cryptocurrency trading.

This is crucial to getting on the right track from the beginning when trading cryptocurrencies. When choosing a broker, it is important to note that not all are the same. A broker that meets the needs of another trader may not meet yours. Here are a few tips to help you choose the best forex broker for cryptocurrency trading:

  • Regulation and Reputation

To avoid dealing with an unprofessional broker and being scammed, you need to make sure all your crypto trades are made solely with a regulated broker. When choosing a forex broker to work with, make sure they are regulated within your jurisdiction to legally offer you their services. Regulated forex brokers are under constant supervision of the regulatory body. If you are in the UK, make sure to trade with a broker that is regulated by the FCA. If in Europe, ensure they are regulated by the CySEC. In case you are in Australia, they should be regulated by the ASIC.

  • An Efficient Trading Platform

It is important to note that cryptocurrency trading is more volatile than forex. Therefore, it demands that the platform is superbly responsive to be able to make moves in time. A good broker’s platform should be efficient to use. To beat the competition, the best cryptocurrency brokers work to attract clients by creating an intuitive trading platform that is suitable for both experienced and new traders. They offer technical analysis tools and basic risk management features like take profit or stop loss. Other sites also offer additional features, including price alerts, social trading networks or advanced educational centers. The crypto trading platform should allow you to trade in the market manage your accounts, perform technical analysis, and receive the latest news on all cryptocurrencies.

Top Recommended Crypto Forex Brokers in 2019

Broker Info Bonus Open Account
HYCM Logo Min Deposit: $100
Spread: From 0,2 Pips
Leverage: 1:200
Regulation: FCA UK (#186171), CySEC (#259/14), CIMA (1442313) and DFSA (F000048)
10% Welcome Bonus up to $5,000 Visit Broker
FBS Markets Inc forex broker Min Deposit: $1
Spread: From 0 Pips
Leverage: 3000:1
Regulation: CySEC, IFSC
$100 No-Deposit Bonus, 100% Deposit Bonus, Lucky T-shirt, iPhone 6s Plus Visit Broker
binance logo Min Deposit: 0
Spread: Non-Spread, Fee 0.1% Per Trade
Leverage: Non-Leverage
Regulation: -
Visit Broker
OCTAFX forex broker Min Deposit: $5
Spread: From 0.2 Pips
Leverage: 500:1
Regulation: FSA (Saint Vincent and the Grenadines), FCA UK (#679306)
50% Deposit Bonus, Real contest 1st prize Luxury car BMW X5 M, Copy trading, Trade&Win. Visit Broker
exness forex broker review Min Deposit: $1
Spread: From 0 Pips
Leverage: 2000:1
Regulation: FCA UK, CySEC, FSP, BaFin, CRFIN
35% of the account Deposit Visit Broker
Forex.com Gain Capital review USA Min Deposit: $50
Spread: Starting 0 Pips
Leverage: up to 400:1
Regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA
Visit Broker
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
Pepperstone review best forex broker in Australia Min Deposit: $200
Spread: Starting 0 Pips
Leverage: 500:1
Regulation: ASIC Australia, FCA UK
Visit Broker
iq option best binary options brokers Min Deposit: $10
Spread:
Leverage:
Regulation: CySEC
- Visit Broker
etoro best forex broker USA Min Deposit: $200
Spread: From 3 Pips
Leverage: 400:1
Regulation: NFA, FCA, CySec
Visit Broker
  • Transparent Fees and Commissions

All brokers, whether trading crypto coins or forex, charge commissions and offer margin accounts to traders. A reliable forex broker for crypto coins should inform you precisely the type of fees and commissions they charge as well as the risks involved. The common fees and charges made by brokers include:

• Wallet fees
• Transaction fees
• Trading fees

  • Competitive Technology

Best Cryptocurrency forex brokers

The last thing you want as a crypto trader is to get margin called simply because you could not log in to close an order. The cryptocurrency trading market is a 24/7 global market. The prices keep moving and are not limited to your time zone. Hence, when choosing a broker, you need to choose one whose platform offers full-time access.

For instance, when trading cryptocurrencies, mobile apps are a necessity as you may need to make or break deal-critical decisions throughout the day. If possible, consider using a reputable broker with a mobile app so that you are able to make successful trading decisions even while in transit.

  • Access to Crowd Wisdom

Today, there are some broker platforms that let you leverage the wisdom of seasoned cryptocurrency traders. This feature can go a long way in improving your returns on investment. Such a trading platform lets you observe the hottest trading trends of other seasoned and successful traders in the market.

  • Fast Setup Times

Digital currencies trading keeps growing in popularity by the day. More and more people, be it speculators or beginner traders want to be able to make key decisions on time, every minute. Therefore, they need to have a setup ready as soon as they are verified by a broker. When choosing a cryptocurrency broker to trade with, consider one that can quickly get you started so that you can begin trading with minimal downtime.

  • User-Friendly Platform

This is one of the most important features to consider when choosing a trading platform to trade with. Digital money trading can be unclear, especially when a technical language is used. Also, because digital money works a little bit differently from any traditional money system. A good broker should be able to understand blockchain and cryptography terms. They should make an effort to explain it in their platform to make it easy to understand by a layman.

They should include clear notifications about the spreads offers, leverage available, deposit methods, the minimum cryptocurrency deposit to trade and the least amount that can be placed in a trade. Make sure you are able to establish all these details before registering with a broker.

  • High-Quality Customer Service

Cryptocurrency trading occurs 24/7. This demands the need for round the clock customer support. Better still, live support is highly preferred over auto attendants taking into consideration the intricacies involved in trading digital currencies.

  • Deposits and Withdrawals

Make sure to choose a broker that allows deposits and withdrawals through multiple platforms such as wire transfer, credit/debit card e-payment among others.

  • Good Financial Backing

A good FX broker for cryptocurrency should have a sound financial backing. This ensures that your digital coins are safe and that the forex broker will not go bankrupt soon after signing up with them.

Cryptocurrency trading is a risky investment. New and fraudulent forex brokers for cryptocurrency trading are emerging every month, launching with crafty marketing campaigns intended to prey on an innocent investor. Therefore, ensure you proceed with caution. Cryptocurrencies are extremely volatile instruments to trade. So, ensure you are in the know of any breaking news, regulatory matters, and rumors which all dictate the market behavior. Above all, make sure you are working with a reputable, reliable and experienced broker.

While it would be easier to point a finger and tell you the best crypto broker, we know and understand that each client has different preferences. Be knowledgeable about all your options and think about how you can spot a broker that is safe now, and in the long-run.

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