Best Crypto Brokers and Trading Platforms in 2025
Crypto brokers offer a way to trade cryptocurrencies like Bitcoin that’s safer than directly buying and selling tokens on exchanges, many of which we’ve seen go bankrupt following high-profile scandals.
We’ve evaluated dozens of platforms to find you the best cryptocurrency brokers, taking into account:
- The trustworthiness of the crypto broker
- The number of digital tokens available
- The usability of the trading platform and app
- The fees you will incur placing short-term crypto trades
- The unique selling points that distinguish the top crypto brokers
Best Brokers For Cryptocurrency Trading In 2025
Our exhaustive reviews show that these are the 10 best crypto brokers and trading platforms in January 2025. Every cryptocurrency broker listed we assessed using either a real money or test account.
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1
Interactive Brokers
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$0$1001:50FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFMStocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, CryptocurrenciesTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentralCheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit CardUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF -
2
eToro USAInvest $100 and get $10Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk. https://www.daytrading.com/ is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$100$10SEC, FINRAStocks, Options, ETFs, CryptoeToro Trading Platform & CopyTraderACH Transfer, Debit Card, PayPal, Wire TransferUSD -
3
NinjaTrader
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:50NFA, CFTCForex, Stocks, Options, Commodities, Futures, CryptoNinjaTrader Desktop, Web & Mobile, eSignalACH Transfer, Debit Card, Wire Transfer, ChequeUSD -
4
OANDA USCFDs are not available to residents in the United States.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:50NFA, CFTCForex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)OANDA Trade, MT4, TradingView, AutoChartistWire Transfer, Visa, Mastercard, Debit Card, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD -
5
UpholdTerms Apply. Cryptoassets are highly volatile. Your capital is at risk.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$0$1CryptosDesktop Platform, Mobile AppWire Transfer, ACH Transfer, Bitcoin Payments, Debit Card, Credit Card, Mastercard, Visa, Ethereum PaymentsUSD, EUR, GBP -
6
IQCent20% to 200% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$250$0.011:500IFMRRCBinary Options, CFDs, Forex, Indices, Commodities, CryptoOnline Platform, TradingViewCredit Card, Debit Card, Wire Transfer, Bitcoin Payments, Ethereum Payments, Visa, MastercardUSD, EUR -
7
CloseOption$10 Welcome Gift
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$5$1National Bank of GeorgiaBinary Options on Forex & CryptosOwnPayPal, WebMoney, Mastercard, Perfect Money, Wire Transfer, Bitcoin Payments, Ethereum PaymentsUSD -
8
World Forex100% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$10.01 Lots1:1000SVGFSAForex, CFD Stocks, Metals, Energies, Cryptos, Digital ContractsMT4, MT5Wire Transfer, Debit Card, Credit Card, Visa, Mastercard, Google Wallet, Apple Pay, Perfect Money, Bitcoin Payments, VoletUSD, EUR, RUB -
9
Pionex
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.1 USDTFinCENCryptosOwnBitcoin Payments -
10
RedMars
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
€2500.01 Lots1:30 (Retail), 1:500 (Pro)CySEC, AFMCFDs, Forex, Stocks, Indices, Commodities, CryptosMT5Credit Card, Wire Transfer, Debit Card, Sticpay, FasaPay, Bitcoin Payments, Trustly, PayPal, Skrill, Neteller, Klarna, Mastercard, VisaUSD, EUR
Here is a short overview of each broker's pros and cons
- Interactive Brokers - IBKR lets you purchase and hold Bitcoin, Bitcoin Cash, Ethereum, and Litecoin at competitive commission rates and without needing a crypto wallet. Additionally, there is a range of other diverse assets to explore, such as crypto indices like the NYSE Bitcoin Index, as well as futures contracts like the BAKKT Bitcoin Futures.
- eToro USA - eToro US offers 24 tradeable cryptoassets, with just a 1% buying/selling fee added to the spread. Additionally, there are 80 different coins available through the broker’s proprietary wallet service. You can also practice your crypto strategies easily by switching between live and demo mode. Crypto asset investing is highly volatile and unregulated. No consumer protection. Tax on profits may apply.
- NinjaTrader - You can get exposure to micro Bitcoin futures through the CME Group’s centralized exchange, which is highly regulated by the US CFTC. Micro contracts allow you to trade a fractional size of one Bitcoin, giving you more risk control and order flexibility.
- OANDA US - Cryptocurrency trading is offered via Paxos, a separate entity from Oanda. You can speculate on the world’s biggest cryptos by market cap. Commissions are lower than many peers starting at 0.25%. Through the broker’s partnership with Paxos, clients can spot trade cryptocurrencies on the itBit exchange through the OANDA native platform.
- Uphold - You can buy and sell 250+ crypto assets with fiat currencies or in crypto pairs using the straightforward mobile app or through Uphold's browser-based account homepage. This is significantly more than many rivals. You can also earn up to 16% APY by staking one or more out of 32 valid tokens, or send tokens to an external wallet.
- IQCent - IQCent offers 17 crypto pairs through its proprietary terminal, including Bitcoin, Ethereum and Litecoin. Leverage on crypto CFDs is capped at 1:10, whilst binary options payouts vary by token but remain competitive. OTC assets, for example, pay out up to 95%.
- CloseOption - CloseOption traders can access high/low binary options on five major cryptos all paired with USD. Payouts of 40% are available due to digital assets' high market volatility, which compares well with rivals.
- World Forex - Traders can access CFDs on crypto assets through World Forex's dedicated W-CRYPTO accounts, which offer leveraged cryptocurrency trading with spreads from zero. We rate that you can trade on 10 cryptos paired with the USD and EUR, while crypto-crypto pairs are also available.
- Pionex - Make spot, future and leveraged trades on 120 cryptocurrencies via Pionex's proprietary platform with built-in trading bots and highly customizable automated trading options. On the negative side, the range of tokens is narrower than many alternatives.
- RedMars - RedMars offers 13 crypto CFDs, including the popular BTC/USD, ETH/USD, and LTC/USD. However, there's no option to buy the underlying cryptocurrency. As a comparison, eToro allows the underlying purchase of 44 cryptocurrencies with copy trading on digital currencies also supported.
Best Crypto Brokers and Trading Platforms in 2025 Comparison
| Broker | Bitcoin Trading | Crypto Spread | Crypto App | Minimum Deposit |
|---|---|---|---|---|
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|
✔ | 0.12%-0.18% | iOS & Android | $0 |
|
|
✔ | BTC 0.75% | iOS & Android | $100 |
|
|
✔ | Floating | iOS & Android | $0 |
|
|
✔ | $100 | iOS & Android | $0 |
|
|
✔ | Up to 1.5% | iOS & Android | $0 |
|
|
✔ | Variable | iOS & Android | $250 |
|
|
✔ | No fee - payouts approx. 40% (Copper) | iOS & Android | $5 |
|
|
✔ | - | iOS, Android + Web Browser | $1 |
|
|
✔ | Market | iOS & Android | $0 |
|
|
✔ | 65 | iOS & Android | €250 |
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Christian Harris, Reviewer
Interactive Brokers Quick Facts
| Coins | BTC, LTC, ETH, XRP |
|---|---|
| Crypto Mining | No |
| Auto Market Maker | No |
| Crypto Spread | 0.12%-0.18% |
| Crypto Lending | No |
| Crypto Staking | No |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral |
| Minimum Deposit | $0 |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level.
- IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.
- There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
Cons
- IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
- TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
- Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
eToro USA
"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."
Jemma Grist, Reviewer
eToro USA Quick Facts
| Bonus Offer | Invest $100 and get $10 |
|---|---|
| Coins | BTC, ETH, BCH, DASH, LTC, ETC, MIOTA, XLM, EOS, NEO, ZEC, XTZ, MKR, COMP, LINK, UNI, YFI, DOGE, AAVE, ALGO, MANA, ENJ, BAT, MATIC, FLR, SHIBxM |
| Crypto Mining | No |
| Auto Market Maker | No |
| Crypto Spread | BTC 0.75% |
| Crypto Lending | No |
| Crypto Staking | No |
| Platforms | eToro Trading Platform & CopyTrader |
| Minimum Deposit | $100 |
| Regulator | SEC, FINRA |
| Account Currencies | USD |
Pros
- eToro USA Securities is a trustworthy, SEC-regulated broker that is a member of FINRA and SIPC
- A free demo account means new users and prospective day traders can try the broker risk-free
- The low minimum deposit and straightforward account opening process means beginners can get started quickly
Cons
- The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools
- Average fees may cut into the profit margins of day traders
- There's no MetaTrader 4 platform integration for traders who are accustomed to using third-party charting tools
NinjaTrader
"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."
Tobias Robinson, Reviewer
NinjaTrader Quick Facts
| Coins | BTC |
|---|---|
| Crypto Mining | No |
| Auto Market Maker | No |
| Crypto Spread | Floating |
| Crypto Lending | No |
| Crypto Staking | No |
| Platforms | NinjaTrader Desktop, Web & Mobile, eSignal |
| Minimum Deposit | $0 |
| Regulator | NFA, CFTC |
| Account Currencies | USD |
Pros
- NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC
- Low fees are offered, with $50 day trading margins & commissions from $.09 per micro contract
- NinjaTrader continues to deliver comprehensive charting software for active day traders with bespoke technical indicators and widgets
Cons
- Non forex and futures trading requires signing up with partner brokers
- There is a withdrawal fee on some funding methods
- The premium platform tools come with an extra charge
OANDA US
"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."
OANDA US Quick Facts
| Coins | BTC, ETH, LTC, BCH, PAXG, LINK, UNI, AAVE |
|---|---|
| Crypto Mining | No |
| Auto Market Maker | No |
| Crypto Spread | $100 |
| Crypto Lending | No |
| Crypto Staking | No |
| Platforms | OANDA Trade, MT4, TradingView, AutoChartist |
| Minimum Deposit | $0 |
| Regulator | NFA, CFTC |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD |
Pros
- Day traders can enjoy fast and reliable order execution
- There's a strong selection of 68 currency pairs for dedicated short-term forex traders
- Seasoned day traders can access industry-leading tools, including an MT4 premium upgrade and advanced charting provided by MotiveWave
Cons
- There's only a small range of payment methods available, with no e-wallets supported
- It's a shame that customer support is not available on weekends
- The range of day trading markets is limited to forex and cryptos only
Uphold
"Uphold remains a top choice for crypto investors looking for a one-stop-shop solution to accessing the markets. There are over 250 tokens to buy, sell and trade through flexible platform options."
William Berg, Reviewer
Uphold Quick Facts
| Coins | BTC, BTCO, AAVE, ALCX, DYDX, INH, XYO, API3, GHST, LSK, AUDIO, GLMR, NMR, CAKE, GODS, REQ, CHR, TRB, DAO, ROOK, XRP, ETH, BAT, ADA, ALGO, ATOM, AVAX, AXS, BCH, BAL, BTG, CSPR, COMP, CRV, DASH, DCR, DGB, DOGE, DOT, EGLD and many more |
|---|---|
| Crypto Mining | No |
| Auto Market Maker | No |
| Crypto Spread | Up to 1.5% |
| Crypto Lending | No |
| Crypto Staking | Yes |
| Platforms | Desktop Platform, Mobile App |
| Minimum Deposit | $0 |
| Account Currencies | USD, EUR, GBP |
Pros
- Uphold continues to remain ahead of the industry, often being one of the first platforms to list new crypto tokens
- Uphold is 100% reserved which helps to protect client funds
- The proprietary app is extremely easy to use with a slick design and navigation
Cons
- The charting analysis features on the platform trail specialist exchanges
- Uphold operates with limited regulatory oversight
- There is a 2.49% fee if you want to use debit or credit cards
IQCent
"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "
IQCent Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| Coins | BTC, ETH, LTC, ETC, DOGE, MATIC, QNT, SOL, XRP, USDT, XMR, BNB |
| Crypto Mining | No |
| Auto Market Maker | No |
| Crypto Spread | Variable |
| Crypto Lending | No |
| Crypto Staking | No |
| Platforms | Online Platform, TradingView |
| Minimum Deposit | $250 |
| Regulator | IFMRRC |
| Account Currencies | USD, EUR |
Pros
- The broker offers up to 98% payouts on binary options, which is more than alternatives like Pocket Option, only offering up to 92%
- There's an accessible $0.01 minimum stake for new day traders with a small budget
- CFD trading fees are competitive based on tests, including 0.7 pips on major forex pairs such as EUR/USD
Cons
- The market analysis is very basic with limited technical summaries and insights from analysts
- There's no automated trading support for algo traders
- IQCent charges a punitive $10 monthly inactivity fee if you fail to place at least 1 trade per month
CloseOption
"CloseOption is a good pick for traders seeking a user-friendly binary options platform with high payouts and joining bonuses."
CloseOption Quick Facts
| Bonus Offer | $10 Welcome Gift |
|---|---|
| Coins | BTC, BCH, ETH, LTC, XBT |
| Crypto Mining | No |
| Auto Market Maker | No |
| Crypto Spread | No fee - payouts approx. 40% (Copper) |
| Crypto Lending | No |
| Crypto Staking | No |
| Platforms | Own |
| Minimum Deposit | $5 |
| Regulator | National Bank of Georgia |
| Account Currencies | USD |
Pros
- CloseOption offers weekly trading tournaments with cash prizes
- Multiple global payment methods are available
- New traders can get started with a $5 minimum deposit
Cons
- CloseOption is not regulated by a well-regarded trading authority
- Clients need to deposit $50,000+ to qualify for the best payouts
- Binary options are only available on fiat and digital currencies
World Forex
"World Forex provides both highly leveraged CFDs and digital contracts, making this a good broker for clients who want flexible and rewarding ways to trade. The copy trading service will also appeal to newer traders."
World Forex Quick Facts
| Bonus Offer | 100% Deposit Bonus |
|---|---|
| Coins | BTC, DSH, LTC, ETH, ZEC, XRP, BCH, XMR, EOS, NEO |
| Crypto Mining | No |
| Auto Market Maker | No |
| Crypto Lending | No |
| Crypto Staking | No |
| Platforms | MT4, MT5 |
| Minimum Deposit | $1 |
| Regulator | SVGFSA |
| Account Currencies | USD, EUR, RUB |
Pros
- Swap-free account available
- 10+ accepted payment methods
- MT4, MT5 and a proprietary trading terminal
Cons
- Weak regulation
- No negative balance protection
- Withdrawal fees apply
Pionex
"Pionex is an excellent option for crypto traders with an interest in cutting-edge AI like ChatGPT and automated trading."
Pionex Quick Facts
| Coins | BTC, LTC, ETH, BUSD, EOS, BTT, TRX, NFT, DOGE, XRP, HT, ALICE, FIL, DOT, JST, AXS, UNI, AAVE, WIN, SUN, CAKE, LINK, BAKE, BCH, ETC, SNX, TFUEL, ADA, PUNDIX, ICP, MDX, FLOW, DODO, MFT, BSV, MATIC, CSPR, SHIB, ATOM, SUSHI and many more |
|---|---|
| Crypto Mining | No |
| Auto Market Maker | No |
| Crypto Spread | Market |
| Crypto Lending | No |
| Crypto Staking | No |
| Platforms | Own |
| Minimum Deposit | $0 |
| Regulator | FinCEN |
Pros
- Powerful integrated AI chatbot 'PionexGPT' helps users programme trading bots on Pine script
- Supports crypto derivatives via futures trading
- Low trading fees compared with other major exchanges at 0.05% maker and taker
Cons
- Limited contact options
- Withdrawal fees and limits may apply
- No demo account
RedMars
"RedMars is the best fit for experienced day traders familiar with the MetaTrader 5 platform and based in the EU, where the broker is authorized by the CySEC. However, the threadbare education and research tools make it unsuitable for beginners."
RedMars Quick Facts
| Coins | BTC, ETH, LTC, XRP, XLM, DOT, ZEC, XMR, QTM, NEO, EOS, BCH, DSH |
|---|---|
| Crypto Mining | No |
| Auto Market Maker | No |
| Crypto Spread | 65 |
| Crypto Lending | No |
| Crypto Staking | No |
| Platforms | MT5 |
| Minimum Deposit | €250 |
| Regulator | CySEC, AFM |
| Account Currencies | USD, EUR |
Pros
- RedMars offers one of the best platforms for day trading, MT5, hosting 21 timeframes, dozens of analytical tools, flexible templates and algo trading
- Getting started on RedMars is incredibly easy - you can be up and running in just a few minutes based on tests
- Clients in the EU, in particular, can trade with peace of mind knowing RedMars is authorized by the CySEC with up to €20K compensation available through the ICF in the event of bankruptcy
Cons
- RedMars falls short for newer traders, with little in the way of education, no beginner-friendly platform, a steep minimum deposit, and inadequate support during testing
- While RedMars' spreads are within industry averages, they don't offer a significant edge over the cheapest day trading brokers we've personally used, notably IC Markets
- With just 300 instruments, RedMars offers a narrow trading environment, particularly compared to category leaders like BlackBull Markets which offers 26,000 assets
Regulatory variations may result in the unavailability of specific crypto brokers in some regions.
How Did DayTrading.com Choose The Best Crypto Brokers?
- We selected crypto brokers that year after year have earned the trust of our in-house experts, helping to ensure your funds are secure. AvaTrade excels as a highly trusted crypto broker with authorization from 9 regulators, including 4 top-rate bodies.
- We favored online crypto brokers that offer an excellent range of cryptocurrencies, from major tokens like Bitcoin to up-and-coming tokens, ensuring you have a wide range of trading opportunities. XTB stands out with a list of 45+ digital currencies, including crypto-fiat pairs like BTC/USD and crypto-crypto pairs like ETH/BTC.
- We chose cryptocurrency brokers with platforms and apps that offer a terrific user experience with an easy-to-use design for beginners and excellent analysis tools for advanced traders. OANDA continues to tick these boxes for us, with OANDA Trade excelling for its ease of use and MetaTrader 4 serving advanced day traders.
- We prioritized cryptocurrency brokers with low fees because we’ve seen that high costs can seriously erode the profits of active day traders, in particular. IC Markets routinely impresses for its low fees, with tight spreads from 8.710 on Bitcoin, as well as no inactivity fees that can penalize casual investors.
- We opted for crypto brokers with unique features that elevate the trading experience and your ability to discover market opportunities. Eightcap continues to impress here with its Crypto Crusher market scanner that’s great for finding live trading ideas.
Find out more about how we test.
What Is A Crypto Broker?
Crypto brokers provide an online platform to trade cryptocurrencies such as Bitcoin (BTC).
Unlike crypto exchanges that are generally used to buy and sell digital currencies directly and often operate with little to no regulatory oversight, brokers can be established firms that deal in other asset classes and have obtained multiple regulatory licenses, so we consider them as a more reliable and trustworthy way to trade cryptocurrencies.
Some cryptocurrency brokers may allow traders to directly buy and sell the crypto tokens, but most will provide trading through derivatives like CFDs.
These derivatives typically allow for leveraged trading, meaning you can magnify your profits (or losses) by a factor, though this is often at levels far below those mandated for other assets due to crypto’s volatility.
For example, the majority of crypto brokers we’ve reviewed offer 1:2 leverage on cryptocurrencies, while retail trading on traditional currencies is often available up to 1:30 in major jurisdictions like Europe.
Should I Trade With A Crypto Broker Or Crypto Exchange?
Crypto exchanges like Binance offer popular ways to trade tokens, since their clients can place buy and sell orders in the same way as you would on a stock exchange.
In addition, some exchanges offer margin trading and decentralized finance (DeFi) functionality that lets you put your digital assets to work.
So, why sign up with crypto brokers?
There are many good reasons – and foremost among them is safety. From the 2014 collapse of the Mt. Gox exchange to 2022’s FTX fiasco, the largely unregulated exchanges have time and again fallen foul of poor management, unscrupulous business practices or bankruptcy, losing clients’ assets worth billions.
Brokers offer similar services to exchanges, but many are overseen by reputable regulators, reducing the risk factor in our view. Although, it’s important to note that not every cryptocurrency broker is regulated for their activities in digital currency trading.
Since they are generally not wholly invested in the crypto sector, online brokers are also usually better able to withstand the crypto markets’ wild swings. eToro, for example, offers stocks and commodities as well as cryptocurrencies.
Finally, many cryptocurrency brokers offer derivative products such as CFDs or binary options that can be difficult to find on an exchange. These allow you to make leveraged bets on crypto assets without having to actually purchase and hold them – meaning you don’t need to worry about an exchange being hacked or about keeping their crypto keys safe.
What Do I Need To Start Trading Crypto?
The first step is to open an account with brokers that offers cryptocurrency trading.
As part of the sign-up process, you will normally need to provide contact details, verify your identity and make a minimum deposit (typically ranging from $0 to $500).
Most cryptocurrency brokers then offer the opportunity to trade tokens using fiat currency through pairs such as USD/BTC.
When you have decided on a crypto you want to trade, you can place an order directly through your brokerage platform or mobile app.
Whether you make a profit or loss, and the size, will depend on the direction and extent the market moves when you close the trade, as well as any fees.
Bottom Line
Crypto brokers offer an excellent way to make short-term trades on digital assets, benefiting from the market’s notorious volatility while avoiding some of the risks associated with crypto exchanges.
Which crypto brokerage you choose to trade with is ultimately a personal decision. However, you can use our list of the best crypto brokers to find the right firm for your needs.
FAQ
Can Crypto Brokers Be Trusted?
We see crypto brokers as a step up from exchanges in terms of security since they tend to have better regulatory oversight and a longer track record.
That said, not all crypto brokers are necessarily regulated for their digital currency operations. Also, not all brokerages are equal in terms of service and security.
You should deal with one that is reputable and trusted.
Do Crypto Brokers Offer Leverage?
Yes, there are online crypto brokers that offer leverage. Rates are usually capped at around 2x (1:2) your deposit amount, however, some firms offer up to 5x (1:5) leverage on certain digital assets.
It’s worth noting that some regulators, including the UK’s FCA, have imposed blanket restrictions banning leverage for crypto markets.
Which Is The Best Crypto Broker For Day Trading?
Our analysis shows that AvaTrade, OANDA, Eightcap, IC Markets and NordFX are all excellent brokers for day trading cryptocurrencies. They offer a good range of digital currencies including Bitcoin, low fees, great charting tools, access to leverage, and are trusted.