Best Bitcoin Brokers 2020

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

Contents

Best Online Brokers for Bitcoin Trading

The best crypto exchanges for US bitcoin trading offer three essential benefits. The first, and most important, is robust security with two-factor authentication, cold storage, and integrated safe wallets. Second is a user-friendly website and platform. Third, they provide access to trading a variety of cryptocurrencies like Bitcoin and Ethereum.

In our assessment and ranking of cryptocurrency exchanges, we focused on traditional exchanges headquartered and regulated in the United States, as well as the incumbent online brokers in the US, which are expanding to offer bitcoin trading on top of regular stock trading (e.g. buying shares of Apple or Google).

Best Bitcoin Trading Platform

  • TradeStation – Best Trading Platform
  • Coinbase – Best Crypto Exchange
  • Kraken – Maker-Taker Fee Schedule
  • Bittrex – Most Altcoins
  • Gemini – Offers Gemnini Dollar
  • Robinhood – Best Mobile App

Here’s a breakdown of some of the best online brokers for US crypto trading.

Best Trading Platform

As a trading technology leader, TradeStation supports casual traders through its web-based platform and active traders through its award-winning desktop platform, all with $0 stock and ETF trades. TradeStation Crypto allows you to buy, sell, and trade Bitcoin, Litecoin, Ethereum, Bitcoin Cash and XRP. TradeStation Crypto caters to both institutional and recreational clients. Read full review

Best Crypto Exchange

Founded in June of 2020, Coinbase is the largest US-based cryptocurrency exchange, housing over 20 million users. Coinbase is best known for its easy to use website and crypto trading platform, Coinbase Pro. Coinbase supports 14 different cryptocurrencies for trading, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), among others.

Maker-Taker Fee Schedule

Kraken was founded in July of 2020 and offers trading on 18 different cryptocurrencies, including Monero (XMR), Ripple (XRP), and Dash (DSH). Kraken currently offers a web platform but does not have a mobile app.

Most Altcoins

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

Bittrex was founded in Seattle, Washington in 2020. Although Bittrex doesn’t provide a mobile or desktop platform, it still offers over 100 tradeable coins, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).

Offers Gemini Dollar

Founded in 2020 by the Winklevoss twins, Gemini is a licensed digital asset exchange and custodian built for both individuals and institutions. Gemini lets users buy, store, and sell Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and ZCash (ZEC), as well as the self-named Gemini dollar (GUSD).

Best Mobile App

Robinhood Crypto allows users to trade Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Dogecoin (DOGE), Ethereum Classic (ETC), and Bitcoin SV (BSV). Ten additional coins can be added to a watch list. Robinhood Crypto is best-fitted for users who trade multiple classes of assets.

Princing Details

Below is pricing information for each of the top online brokers for bitcoin trading. Each company uses a different structure.

TradeStation – TradeStation.com

Headquartered in Plantation, Florida, TradeStation is a wholly owned subsidiary of Monex Group, Inc., one of Japan’s largest online financial services providers. (1). TradeStation’s roots date back to the 1982, when the company was formed under the name Omega Research. The company’s flagship TradeStation platform was launched in 1991, and TradeStation Group was a NASDAQ listed company from 1997 – 2020, until it was acquired by Monex Group (2).

TradeStation Crypto features a simple pricing structure. Account balances below $100,000 pay a 0.50% maker fee and a 0.50% taker fee. Account balances over $100,000 don’t pay a maker fee, paying either a 0.25% or 0.125% fee based on account size. At this commission rate, it would cost $5.00 to buy $1,000 worth of Bitcoin (BTC).

Coinbase – Coinbase.com

If buying Bitcoin from a linked ACH account, the average commission is

1.49%. If buying Bitcoin by selling another cryptocurrency you already hold in your Coinbase Wallet (or vice versa), then the average commission is

.50%. For example, buying $1,000 worth of Bitcoin would cost

$15 from a linked bank account.

Kraken – Kraken.com

Kraken uses a maker-taker fee schedule with price incentives based on your trading volume over the last 30 days. For example, the average customer who trades less than $50,000 a month will pay $2.60 in fees for every $1,000 in trading volume. Fees for market makers range between 0% and 0.16%, while fees for takers range from 0.10% to 0.26%. This fee schedule, is more competitive than competitors like Coinbase and Gemini.

Bittrex – Bittrex.com

Bittrex has a simple pricing model, and charges a flat 0.25% on all trades. At this commission rate, it would cost $2.50 to buy $1,000 worth of Bitcoin (BTC). Higher-volume traders, those trading more than $25,000 a month, should look at Kraken for discounted pricing.

Gemini- Gemini.com

Gemini is much more expensive than other exchanges, charging between $0.99 – $2.99 on transactions under $200, and 1.49% on orders over $200. This means it would cost $14.90 to purchase $1,000 worth of Bitcoin (BTC). Overall, Gemini is the most expensive crypto exchange included in this guide, charging more than five times what other exchanges would charge for the same transaction.

Robinhood – Robinhood.com

Robinhood Crypto does not charge a commission for placing crypto trades; however, it generates tiny profits from each order as it is routed. This routing practice, known as payment for order flow (PFOF), is also how Robinhood makes money from stock trades. In their user agreement, Robinhood Crypto states that they may receive activity-based rebates from Crypto exchanges, brokers, and market-makers, among other crypto intermediaries. Bottom line, since Robinhood is not transparent with its pricing structure, there is a possibility the all-in costs per trade are actually much higher than some competitors. Unfortunately, there is no way to know for certain.

Pricing Details per Exchange

Final Thoughts

Trading cryptocurrencies is becoming more widespread as investors around the globe become more comfortable with blockchain technology and the exchanges that offer online crypto trading. Security enhancements for digital wallets continue to improve as well, providing traders more confidence that buying bitcoin is safe.

Explore our other online trading guides:

About the author: Blain Reinkensmeyer As Head of Research at StockBrokers.com, Blain Reinkensmeyer has 18 years of trading experience with over 1,000 trades placed during that time. Referenced as a leading expert on the US online brokerage industry, Blain has been quoted in the Wall Street Journal, The New York Times, Forbes, and the Chicago Tribune, among others.

About the author: Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

Advertiser Disclosure: StockBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. How do we make money? Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, e.g. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. Here is a list of our partners.

Disclaimer: It is our organization’s primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While StockBrokers.com has all data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by StockBrokers.com, nor shall it bias our reviews, analysis, and opinions. Please see our General Disclaimers for more information.

© 2020 Reink Media Group LLC.
All rights reserved.

Best Bitcoin & Cryptocurrency Broker → Comparison & Beginner’s Guide

Looking for the best Bitcoin broker? There is a wide range of brokers on the crypto market, which doesn’t make the decision easier. If you want to trade Bitcoin (BTC) and cryptocurrency you need a broker with low fees, high leverage, and the best trading tools! Why should it be difficult?

We help you compare and choose the best Bitcoin trading platform. It only takes a few minutes to open an account. Learn everything about Bitcoin Trading and how to trade Bitcoin. This guide gives you the best chance to make money day trading Bitcoin. Get started now!

Below is our comparison table where you choose the best Bitcoin / Cryptocurrency Broker for you. In the beginner’s guide, we also help you choose the right Bitcoin trading software, trading tools, and successful Bitcoin trading strategies. Compare brokers now →

BEST BITCOIN BROKER

Overview

How to Choose the Right Cryptocurrency Broker?

Basics 101: How to Trade Bitcoin

Day Trading Bitcoin: Learn Technical Analysis!

The Best Bitcoin Trading Software & Tools

Get Started: Trading Bitcoins for Beginners

Conclusion: Best Bitcoin Trading Platform

Invest in Bitcoin here!

Frequently Asked Questions

Join The Discussion!

Top 3+ Bitcoin & Crypto Brokers – April 2020

# Most Popular Exchange Rating Services Speed Fees Why Open Account?
100
All in one Best Lowest
    Best Crypto Exchange → Secure and Easy Social Trading Network → Copy Successful Traders 24/7 Exchange with Lowest Fees Open an Account in ≈ 5 Minutes

Min Deposit: €180

Risk Disclaimer: Cryptoassets are highly volatile unregulated investment product. No EU investor protection. Your capital is at risk.

Read Review Exchange / Wallet High Low

    Good exchange for beginners Well-established and reliable company Easy to get started
Broker Moderate Low
    Trade immediate with no hidden fees Access to many trading tools Secure Deposits & Withdrawals

Min Deposit: $100

Read Review Exchange High Low

    Instant buy with VISA/MasterCard Advanced chart tools for trading Easy to get started
Broker High Low
    Popular cryptocurrency trading broker Around the clock customer service 24/7 cryptocurrencies trading

Min Deposit: €100

Exchange High Low
    Buy Bitcoin and other cryptocurrencies Fast and secure verification process Trade BTCUSD with 100 USD margin
Exchange High Low
    Buy Crypto with Credit Card Easy Onboarding & Fair Pricing Full Legal Compliance

Read Review Broker High Low

    Leading CFD Provider for Cryptocurrency User-friendly Trading Platform Free and Unlimited Demo Account

Min Deposit: $100

Risk Disclaimer: 76.4% of retail CFD accounts lose money

Exchange High Low
    Reliable Cryptocurrency Platform Offers margin trading & chart tools New users get 100 free Doge
10 59 Bitcoin Seller Moderate Varies
    Buy Bitcoin instantly Pay with credit/debit card Easy to get started
11 55 Exchange High Low
    Cryptocurrency Exchange for Professionals Many Altcoins Available! Very Low Fees

Only Crypto: No Fiat Deposits (USD/EUR)

12 55 Exchange High Low
    Best Bitcoin Exchange for High Leverage! 100% Anonymous Crypto Trading Good Liquidity & Advanced Features

Only Crypto: No Fiat Deposits (USD/EUR)

13 50 Broker High Low
    Trustworthy and secure trading broker Customizable user interface Free and unlimited demo account
14 49 Bitcoin Seller High Low
    Buy and sell all major cryptos Quick and easy bank card purchases Hodly is simple, instant and secure
15 45

Read Review Exchange High Low

    Popular Bitcoin trading platform Many advanced trading features Very low fees
16 45

Read Review Exchange Slow Varies

    Anonymous (no ID verification required) All payment methods available No buying or selling limits
17 32

Broker Varies High
    Anonymous (id verification not required) Easy-to-use platform Free demo account for beginners

Do you want to jump to any section?

How to Choose the Right Cryptocurrency Broker?

Basics 101: How to Trade Bitcoin

Day Trading Bitcoin: Learn Technical Analysis!

The Best Bitcoin Trading Software & Tools

Get Started: Trading Bitcoins for Beginners

Conclusion: Best Bitcoin Trading Platform

Frequently Asked Questions

Welcome to CryptoRunner! I’m David Andersson, co-founder of this site.

We understand that cryptocurrencies can be confusing and frustrating. That’s why we are here to help you.

How to Choose the Right Cryptocurrency Broker?

There are many things to compare when choosing the right Bitcoin and Cryptocurrency Broker. We have compiled the most important together with our rating in the comparison table above. This makes it easy for you to choose the Best Bitcoin Trading Platform.

However, there are more things that are good to check and compare. To choose the right broker, look at the following:

  • Customer Satisfaction: The best way to choose bitcoin brokers is to test their trading platforms. But the quickest and easiest way is to listen to what their customers say. Are their customers satisfied? To help you answer that question, all brokers on this page have a rating (with numbers 1-100 and stars 1-5).
  • Broker Regulation: It’s essential that you use a regulated broker. This is especially true when you’re trading cryptocurrencies. If the broker is unregulated, your money will not be protected. ** All brokers in our comparison table offers regulated CFD trading which means that your money is protected. **
  • Fees and Costs: If you’re planning to trade Bitcoin and cryptocurrency you need to choose a broker with low fees and costs. NOTE! It’s common for brokers to advertise their platform with “zero fees”. However, this usually means you have to pay an additional cost called spread (the difference between buying and selling price).
  • Trading Platform: The most important thing for a professional Bitcoin Trader is to use a good trading platform. (Provided that the broker is regulated and has reasonable fees.) The market consists of a variety of trading platforms with different features. You need to open an account and try!
  • Minimum Deposit: Some brokers require a minimum deposit, while others don’t have any at all. If the minimum deposit is high, it usually means that the broker is serious. However, a trading account without any minimum deposit can be a way for new cryptocurrency brokers to get customers. For whatever reason, the minimum deposit should not affect your choice of broker.
  • Customer Service: Not all cryptocurrency brokers offers reliable and fast customer support. Do they provide customer support 24/7? Is there chat support, phone support or both? Bigger players on the market usually offer this, but not always by smaller brokers.
  • Leverage: You can always trade with leverage if you use Bitcoin CFDs. We recommend choosing a CFD broker because leverage is an important tool for traders. Leverage means that you can borrow money to get higher returns on your trades. It usually varies between 1:5 and 1:300. NOTE! A typical beginner’s mistake is to use too high leverage. Use the tool responsibly! Professional traders rarely use more than 1:5 in leverage.
  • Free demo account: Cryptocurrency brokers usually, unlike exchanges, offers a free demo account. Take advantage of the opportunity to test the trading platform and its features. Or are you ready for the real deal? Deposit a smaller amount of money and make some buy and sell orders before you risk your capital. A good way to learn how to trade Bitcoin.

Beginner Guide: Best Bitcoin Trading Brokers

Are you a beginner or want to learn more about trading? You have come to the right place! This complete beginner’s guide will help you choose the best bitcoin trading broker and get started with trading. Making money on trading is harder than it seems. However, it’s easier to trade cryptocurrencies than other securities such as stocks. This is due to several reasons.

Advantages of Trading Bitcoin

  • Lower fees and smaller spreads – Brokers with Bitcoin trading sites tend to have low fees and small spreads. This is because the crypto market is more transparent and easily accessible than other markets.
  • Less price manipulation and algorithm trading – The stock market often gets criticism that larger companies and other groups manipulate the price. The majority of all orders are also executed by robots. Bitcoin and cryptocurrency is a smaller market with less price manipulation and algorithm trading. This creates a level playing field for all traders.
  • More active individuals with little experience – Technical analysis, which is the foundation of successful trading, works better when the market consists of inexperienced individuals. Trends and patterns become more apparent and easier to analyze. All beginners in day trading make classic mistakes. You can take advantages of it.

What Is the Difference Between a Broker and Exchange?

If you want to earn money from trading cryptocurrency, we recommend a CFD Broker on this page. CFD (Contract For Difference) is a contract that reflects the price of an underlying asset. This includes cryptocurrencies. Brokers offer the best Bitcoin trading platforms because their products aimed at traders. Your money is also protected by the broker.

If you want to invest in Bitcoin and other cryptocurrencies, you can buy them at a Bitcoin Exchange. This is for long-term investors. But it also means you are in charge of security. NOTE! If you buy real cryptocurrency, you must also buy a Bitcoin Wallet to keep them safe.

Keep reading and learn how to trade Bitcoin →

Basics 101: How to Trade Bitcoin

Do you have no experience of trading? Don’t worry! We will tell you everything you need to know about Bitcoin Trading. Learn the basics and start trading today →

What Is Trading?

Trading makes it possible to make money when the price varies. This is something that has become popular with cryptocurrencies. Bitcoin is the first and largest cryptocurrency, but there are hundreds of others on the market.

Day trading Bitcoin, as the name suggests, means that you only trade during the day. In other words, all open positions are closed when the market closes. However, since the crypto market is open 24/7, you can trade Bitcoin around the clock!

How Does It Work?

There are two different ways to make money with trading. Either you earn money by buying low and selling high (this is called a long position). The price difference will be your profit.

You can also make money when the price drops by selling high and buying low (this is called a short position). When you take a short position, you sell cryptocurrency that you bought for borrowed money. If the price drops, you can buy it back cheaper and earn money on the price difference.

You earn money on the price difference when you trade cryptocurrency. This means that Bitcoin traders want to see significant price variations, also called volatility.

If there is high volatility, there are strong price movements. Therefore volatility is used as a risk measure. High volatility means big price variations but at the same time a big opportunity to make money with Bitcoin Trading.

This is the difference between trading and investing. If you invest in a cryptocurrency, you want the price to increase, but at the same time have low volatility.

As a trader, you earn money on volatility and high risk. Trading is a risky business which doesn’t fit everyone. It’s important to understand the risks of trading.

Day Trading Bitcoin: Learn Technical Analysis!

There are two different methods for analyzing an asset, Fundamental Analysis (FA) and Technical Analysis (TA). Fundamental analysis is to evaluate the asset’s underlying value. For example, company reports are used to determine the fair value of a business.

With technical analysis, you let the market evaluate the financial asset and instead analyze price and volume to predict price movements. Technical analysis is based on statistics, and you use different parameters to see which price change is most likely.

You analyze the graph to see trends, patterns, and formations in the price. There are numerous technical indicators for analyzing trends and formations. To analyze the price, traders use candlesticks because it contains more information than a regular line graph.

As you can see in the image, the graph consists of green and red rectangles, and they are called candlesticks. Each candlestick represents a time interval, usually one day. If the color is green, the price has risen during that period and at red, the price has fallen. The trend of the price depends entirely on the time interval you analyze.

Investing vs. Swing Trading vs. Day Trading vs. Scalping

There are four different ways to speculate on the price with various time settings; Investing, swing trading, day trading, and scalping. If you invest, you look at the big trend with a time horizon for several years. Swing trading is more short-term because you are speculating on the price for a few days or weeks.

Day trading, as the name suggests, is trading during the day. You watch the daily trend and close all orders at the end of the day. An even shorter time setting is scalping when you try to capture small movements in the price. Bitcoin traders then use leverage to earn money on these small moves. With borrowed money the risk increases.

The shorter the time, the more difficult technical analysis becomes. If you’re just starting out with cryptocurrency trading, you should not trade on less time than 1-day candlesticks.

Traders can’t look into the future. Instead, they know the odds of the future, just as you can count on cards in Black Jack. You will make bad trades all the time, but if the odds are to your advantages, you will make money over time.

Technical analysis works because several people look at the same technical indicators. Because several traders respond to the same price levels, it becomes a self-fulfilling prophecy.

Bitcoin Trader Tips: Successful Bitcoin Trading Strategies

Your trading strategy is the plan you have before you start trading Bitcoin and cryptocurrency. You need a clear plan before you initiate a trade. What will be the buying and selling prices for this trade?

Before you buy a cryptocurrency, you need to decide where you sell and within what timeframe. If you want to get started with trading, we recommend to scale in and out of your positions. Many traders prefer this instead of buying and selling the entire position because it reduces the risk.

The hit ratio for Bitcoin trading strategies will vary depending on the risk. We strongly recommend that you use a trading journal to record all orders. It’s important to evaluate how your trading strategies work.

Risk Management Is Underestimated

When you record your Bitcoin trading, you need to keep track of your risk/reward ratio. How big the risk is in relation to the reward per trade. This simple formula is essential because it helps you make rational trading decisions.

You should always use a stop loss to manage your risk. This means that the cryptocurrency is automatically sold at a predetermined price.

Let’s say you buy a cryptocurrency at $100, have a stop loss at $99 and a price target of $ 105. You can earn $5, that will be your reward. And you can lose $1, that will be your risk. This means that your risk/reward ratio will be 1:5 ($5 / $1 = 5). In other words, the potential profit is five times as high as the loss.

This is a risk/reward ratio that is usually recommended by traders. But let’s say that your trading strategy has a ratio of 1:10 (risk/reward). This means that the potential gain is 10 times as high as the risk.

In that case, you can lose 90% of your trades but still earn money. Since a winning trade generates as much money as 10 losing trades, the hit ratio can be low. However, it’s usually better to minimize losses than try to maximize profits in trading.

How to Make Money Trading Bitcoin

The best Bitcoin trading strategies depend on your preferences and risk level. Start slowly but surely and try different trading strategies. Don’t risk all your capital on single trades.

In trading, the guideline is to use 2-5% of your total capital per trade. This is an important rule to follow in order to make long-term money on trading Bitcoin and cryptocurrency. Choose a sustainable trading strategy!

The size of your losses determines if you are a good Bitcoin trader. Not the size of your winnings.

The Best Bitcoin Trading Software & Tools

There are a variety of Bitcoin trading platforms with different tools. This is something you will notice in the crypto market. But what Bitcoin Trading Software is best? There is no straight answer to that question. Different Bitcoin traders value different tools.

Bitcoin Trading Software

Cryptocurrency brokers usually use their own trading software on its platform. There is also no lack of trading tools for technical analysis. At the same time, it’s easy to use many unnecessary tools that don’t really improve your Bitcoin day trading.

All traders need at least one technical analysis program. The most popular software for technical analysis is TradingView. It contains all the technical indicators and chart settings you need for Bitcoin trading.

TradingView also has a social network for traders where you can find many trading ideas from experienced Bitcoin och cryptocurrency experts. If you want to start trading, we strongly recommend TradingView. This is an excellent complement to your cryptocurrency broker platform.

Automated Bitcoin Trading

If you want to take the next step in trading, there is automated robot trading. This means that you create trading bots that apply your strategies to Bitcoin and cryptocurrencies. This is nothing for beginners, but with the knowledge, you can make a lot of money with automated Bitcoin trading.

The best software for bot trading in Bitcoin/cryptocurrency is Cryptotrader. You get access to several trading algorithms that are active in the market and many other features. However, don’t start with automated Bitcoin trading before you’re ready.

The crypto market, like trading software programs, is under continuous change and improvement. We recommend that you test multiple software and learn how to use their various tools. Take the opportunity with these software tools and improve your Bitcoin trading.

Get Started: Trading Bitcoins for Beginners

It’s time to help you get started with Bitcoin Trading! In this section, we have many tips and advice on trading Bitcoin for profit. If you follow our advice, you have good chances of becoming a successful trader.

Focus on the Trend

There is always a certain trend that determines the direction in which the price moves. The trend along with volatility creates a trend channel. This becomes an area in which the price usually moves within.

A strong reaction in the market may cause the price to fall outside the trend channel. In this case, the trend direction can change. Otherwise, the cryptocurrency is overbought or oversold. In trading, the price can be described as a rubber band.

The price tends to move in waves and return to the middle of the trend channel. If the price increases much faster than the average, the rubber band will be tense, and then the price can be considered overbought.

This is why the moving average is one of the most popular technical indicators in trading.

Trading Bitcoin for Profit

  • Learn technical analysis and use candlesticks – You need to learn technical analysis and use candlestick charts because it contains much more information than line diagrams.
  • Use a trading journal – Write down all your orders, check your statistics and evaluate your trading strategies.
  • Learn from your mistakes – All traders make mistakes, but it’s better to make mistakes in the beginning when your capital is less. Learn from your mistakes, you paid for them.
  • Ignore untrustworthy sources – Many fake news and cryptocurrency scams try to fool other people through “pump and dump”.
  • Have achievable goals with a reasonable time horizon – Many who start trading have too high expectations.
  • Protect profits and limit losses – A tip is to start with lock-in winnings and always use a stop loss. You need to be consistent as a trader.
  • Learn the correlation between cryptocurrencies – There are clear correlations between Bitcoin and different cryptocurrencies. This can give you an advantage when trading cryptocurrency.
  • Don’t risk too much in the beginning – Start slowly but surely and improve your trading every day.
  • Choose the best Bitcoin / Cryptocurrency Broker – You need to use all available advantages. Below you will find the best cryptocurrency broker.

Conclusion: Best Bitcoin Trading Platform

CEX.IO is the Best Bitcoin / Cryptocurrency broker. A leading platform on the market offering multiple cryptocurrencies. Their Bitcoin Trading Platform has achieved our highest rating. Open an account and start trading now!

eToro is the Best Bitcoin / Cryptocurrency broker. A leading CFD provider on the market offering multiple cryptocurrencies. Their Bitcoin Trading Platform has achieved our highest rating. Open an account and start trading now!

We Test and Rate Brokers

When we rate cryptocurrency brokers, we look at many factors. This includes fees and costs, trading platform, leverage, customer service, demo account, deposit requirements, company background, customer satisfaction and more.

But most importantly, we are testing the trading platform. The overall user experience can be a decisive factor. There are many different brokers, and there are always new Bitcoin trading sites being introduced.

We update this guide and our comparison table all the time. All Bitcoin brokers have their pros and cons. We help you choose the right one!

The Key to Success → Never Give Up

Just like everything else, it will take time to get good at trading. Day trading Bitcoin is nothing that comes naturally. It takes time to learn how to read trends and patterns in price charts. Everyone makes mistakes at the beginning. The important thing is to learn from your mistakes.

You need to continually develop and adapt to the market as a Bitcoin trader. Cryptocurrencies constantly fluctuate in price, but experience and knowledge consist.

Frequently Asked Questions

Is your question not answered here? Ask your question below!

How do I trade Bitcoin?

There is no reason to make it harder than it is. Step 1: Start by comparing Trading Platforms on this page. Step 2: Choose the best broker and open account. Step 3: Make a deposit and start trading!

To become a successful Bitcoin trader, you need to constantly develop and adapt. When you start trading, there is a lot to learn. Everyone makes mistakes at the beginning. It’s important that you learn from your mistakes.

Why do Bitcoin have value?

As with all currencies, the value depends on supply and demand. Bitcoin has value because there are high demand and low supply. Cryptocurrencies such as Bitcoin are available in limited amounts in the same way as precious metals such as Gold.

Also, normal fiat currencies such as Dollar and Euro have no limited supply. The central bank is creating more and more money which leads to inflation. Bitcoin protects your money from inflation.

What is CFD (Contract for difference)?

A Contract for difference (CFD) is a type of derivative instrument that allows investors and traders to speculate on price changes in an underlying asset. For example, cryptocurrencies such as Bitcoin. If you want to trade cryptocurrency, it’s easier and often better to use Bitcoin CFDs instead of real Bitcoins.

What is the difference between an Exchange and Broker?

If you want to invest in Bitcoin and other cryptocurrencies, you can buy them at a Bitcoin Exchange. This is for long-term investors. But it also means you are responsible for security.

If you want to make money trading Bitcoin, we would recommend a broker instead of an exchange. By this, we mean a CFD broker offering trading products. Your money is also protected by the broker.

NOTE! If you choose an exchange instead of a broker, you need to buy a Bitcoin Wallet to protect your cryptocurrencies.

The Best Broker Exchanges

Safe & Secure cryptocurrency exchange

Easy Intuitive interface

Liquidity Accepted in over 200 countries

Safe & Secure cryptocurrency exchange

Easy Intuitive interface

Liquidity Accepted in over 200 countries

Huge range of cryptocurrencies

2 Factor Authentication

Huge range of cryptocurrencies

2 Factor Authentication

Various Payment options

Various Payment options

Access the world’s most popular Crypto assets including Bitcoin

Automatically copy the trades of top Crypto traders

Deposit using PayPal + 9 other deposit options

Access the world’s most popular Crypto assets including Bitcoin

Automatically copy the trades of top Crypto traders

Deposit using PayPal + 9 other deposit options

Fully automated platform with instant transactions

A wide variety of payment options

Good for beginners

Fully automated platform with instant transactions

A wide variety of payment options

Good for beginners

2 Factor Authentication

2 Factor Authentication

Crypto and Forex Trading

Same Day Withdrawals

24/7 Professional Support Team

Crypto and Forex Trading

Same Day Withdrawals

24/7 Professional Support Team

Daily market updates and news

Daily market updates and news

99 Digital Asset Pairs Available

Regulated by Gibraltar Financial Services Commission

99 Digital Asset Pairs Available

Regulated by Gibraltar Financial Services Commission

24/7 Customer Support

Free Demo Account

24/7 Customer Support

Free Demo Account

What is a Broker Exchange?

With a cryptocurrency broker site, you can buy and sell Bitcoin as well as other popular virtual coins such as the Ethereum currency, Ripple altcoin, and Bitcoin Gold.

A broker isn’t technically an exchange like a fiat-crypto exchange or a peer-to-peer exchange is, because you don’t own the cryptocurrencies (or other assets) you buy on it. This has its benefits because a forex broker allows you to invest in Bitcoin and altcoins without “putting your eggs in one basket” if you will.

In addition to it being somewhat safer, investing at a broker is easier: You don’t need to set up a wallet for each cryptocurrency you’re interested in. On the contrary, you can start right away. You don’t need to be an expert on cryptos, on investing or on using trading platforms to get going.

To find the very best broker around, we can start by looking at the most popular sites of this type. These are sites and apps where millions of investors have already invested their money and have left positive reviews of the service provided. We have reviewed a great number of them and have gathered together here five of the very best broker exchange options for you to consider.

eToro

If you want a regulated, highly reputable place to buy some Bitcoin then eToro is a smart choice to make. As you’ll read in our eToro review, it is a social trading network, and it is certainly a service that is trusted by millions of people in over a hundred countries around the globe. eToro is regulated by CySEC and compliant with MiFID.

Advantages of eToro

– Highly regulated crypto broker, which is important as Bitcoin itself isn’t regulated- Huge user base spread all over the planet- Copy trading feature lets you mimic the experts and make the same moves – Fast and efficient trading platform that it is easy to use- Real-time trading available- Wide range of trading options such as CFDs

Disadvantages of eToro

– Not currently available for US investors- Site can sometimes be slow

24 option

As you can see from our comprehensive 24 Option review, this Bitcoin broker started out by offering forex and binary trading to its users. 24 Option is fully regulated and now offers a range of cryptocurrencies on investments like CFDs. The mobile app lets you carry out mobile trading wherever you are.

Advantages of 24 Option

– Fully regulated investment broker- Secure site, never been hacked- 24/7 trading – Mobile app means more flexibility- Intuitive platform that you will get to grips with quickly

Disadvantages of 24 Option

– The withdrawals fees can be on the high side- Not a particularly extensive range of cryptocurrencies to choose from- You need to deposit to use the demo account

PaxForex

Our in-depth look at PaxForex showed us that this site offers a wide range of currencies and types of account, as you would expect from one of the best broker sites. The PaxForex platform has been in business since 2020 and now provides Bitcoin and Ethereum trading as well as traditional fiat currency options.

Advantages of PaxForex

– Extensive training available for beginners- You can choose from Mini, Standard and VIP account options- Powerful MT4 trading platform lets you trade effortlessly- Speedy withdrawals

Disadvantages of PaxForex

– Fairly limited amount of cryptocurrency options- Some negative reviews by unhappy customers who have struggled to withdraw funds

XTrade

We have also reviewed the XTrade site to see what it has to offer in this type of cryptocurrency investment. The XTrade site is a CFD and forex broker that includes the likes of Bitcoin, Litecoin currency, Dash, Ethereum and the Ripple coin in a fairly lengthy list of currencies that they offer trading possibilities on.

Advantages of Xtrade

– A good number of cryptocurrencies included- Mobile trading app available- Regulated by CySEC- Easy to use, intuitive platform

Disadvantages of Xtrade

– Fairly highly minimum amount on initial deposit- Commission is too high for some

Do Broker Exchanges Suit Beginners?

Are you completely new to this way of trading? If you are then you will want to find an easy to use platform that you can get going on without any hassle. After looking at the industry through expert eyes, we’ve decided that eToro is our choice of the best broker exchange thanks to features such as the intuitive set up and the CopyTrader function that lets you copy expert investors, benefitting from their knowledge. You can start trading in no time on here.

Can you Day Trade on Broker Exchanges?

It is possible to day trade in this way. However, it is worth bearing in mind that eToro told us that they “believe in cryptocurrency in the long term” and hope that their customers hold these currencies for longer. Day trading requires rapid decision-making skill so might not be right for you if you are new to this sort of investment.

Which Broker Exchange Should You Choose?

The flexible and welcoming service provided by the brokers above makes them highly recommended choices as your broker exchange for Bitcoin and other currencies. Simple to use and with great features, they each offer an easy way to get started on investing in cryptocurrencies. By finding the best broker exchange for your needs you can enjoy investing with confidence.

The best broker exchange for 2020 is, in our opinion, eToro. With a solid set of features and a welcoming site, it is suitable for any type of investor, new or old. Register today to get the very best deals and to buy Bitcoin in a way that suits you perfectly.

Also, see our guides on fiat-crypto exchanges, crypto-crypto exchanges, and peer-to-peer exchanges for even more options.

FXDailyReport.Com

Till about a decade ago, you had to make use of the telephone if you wanted to invest in the financial markets. You had to call up your broker for placing as well as closing orders. Introduction of online trading has, however, simplified every aspect of the investment process. You can carry out trades from the convenience of your home or on-the-go using the platform provided by brokers. Sounds simple, but the problem is there are umpteen number of forex brokers that offer trading platforms out there in the market. And, you need to work with the best forex broker if you want to achieve your financial goals. So, it all boils down to identifying the right broker to work with and it is definitely not an easy task. Read on to find out as to how you can identify the best forex brokers. In this post, various aspects you need to take into consideration when choosing a forex broker are discussed in detail so that the selection process becomes simpler and easier for you.

Broker Info Bonus Open Account
Min Deposit: $1
Spread: From 0 Pips
Leverage: 3000:1
Regulation: CySEC, IFSC
$100 No-Deposit Bonus, 100% Deposit Bonus Visit Broker
Min Deposit: $5
Spread: From 0.2 Pips
Leverage: 500:1
Regulation: FSA (Saint Vincent and the Grenadines), CySEC
50% Deposit Bonus, Real contest 1st prize Luxury car BMW X5 M, Copy trading, Trade&Win. Visit Broker
Min Deposit: $5
Spread: From 0 Pips
Leverage: 500:1
Regulation: ASIC, CySEC, FCA (UK), IFSC Belize
“50% +20% deposit bonus up to $5,000, Loyalty Program Bonus Visit Broker
Min Deposit: $1
Spread: From 0 Pips
Leverage: 2000:1
Regulation: FCA UK, CySEC, FSP, BaFin, CRFIN
35% of the account Deposit Visit Broker
Min Deposit: $50
Spread: Starting 0 Pips
Leverage: up to 400:1
Regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA
Visit 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
Min Deposit: $200
Spread: Starting 0 Pips
Leverage: 500:1
Regulation: ASIC Australia, FCA UK
Visit Broker
Min Deposit: $10
Spread:
Leverage:
Regulation: CySEC
Visit Broker
Min Deposit: $200
Spread: From 3 Pips
Leverage: 400:1
Regulation: NFA, FCA, CySec
Visit Broker
Min Deposit: $100
Spread: Starting 0 Pips
Leverage: up to 500:1
Regulation: FCA UK, ASIC Australia, MAS Singapore
Visit Broker
Min Deposit: $300
Spread: floating, from 0 pips
Leverage: 500:1
Regulation: FCA UK reference number 579202
Visit Broker
Min Deposit: $250
Spread: as low as 0.1 pips
Leverage: up to 400:1
Regulation: ASIC Australia and FCA UK
Visit Broker
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)
Visit Broker
Min Deposit: $100
Spread: Starting From 0.9 pips
Leverage: 400:1
Regulation: MIFID, FSB & ASIC
Visit Broker
Min Deposit: $100
Spread: Starting 0 Pip
Leverage: 500:1
Regulation: FCA UK, FSA (Seychelles), CySEC
Visit Broker

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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.

Main Parameters to be Checked for Identifying the Best Forex Brokers:

#1: Regulations and Licenses

It is highly recommended that you choose only forex brokers that are regulated or authorized by leading regulatory bodies such as Commodity Futures Trading Commission (CFTC), National Futures Association (NFA) and Financial Conduct Authority (FCA in UK), among many others. This is because regulated brokers are more reliable than their non-regulated counterparts. Further, your hard earned money remains safe with such brokers for two reasons: they will be appropriately capitalized and they maintain segregated accounts for theirs as well as traders’ funds.

#2: Forex Trading Platform

The online trading platforms that recommended forex brokers provide would not only be simple, but also intuitive and easy to operate or navigate. It, therefore, makes sense to try out a few online forex platforms and see for yourself as to which one has a better user interface and is easily navigable.

#3: Customer Support Services

Customer support is a key aspect that you need to evaluate. Best Fx brokers would often be aware of the needs of the traders and provide good, efficient and responsive customer support services. During the course of trading forex on an online broker’s platform, there will be times when you need certain time sensitive clarifications. If the customer support service of the broker you are planning to work with is not good enough, you could end up losing money. It is, therefore, recommended that you evaluate the brokers’ customer support service both by speaking to their representatives on telephone and by communicating with them through email.

#4: Leverage Options

Leverage offered for forex trading varies from one broker to another. If the leverage is high, the trader can make more profits. However, the risk of accumulating losses is also equally higher. Therefore, you should choose a broker that offers leverage suiting to your needs and based on your style of trading.

#5: First Deposit Bonus

Brokers often try to attract you by offering high capital bonuses when you make your first deposit. This is good because you get more money for trading. You can choose the broker that offers the highest first deposit bonus, but you should make sure other aspects discussed above and those that are discussed below suit your needs.

#6: Deposits and Withdrawals

It is important that you understand the brokers’ policies related to deposits and withdrawals. The features to be evaluated when choosing top forex brokers are minimum amount to be deposited to start trading, deposit methods offered, currency options provided, minimum withdrawal amount specified and waiting time for withdrawals, among others. Further, it makes sense to go through all other written policies in detail.

#7: Trading Costs

Brokers make money by charging a fee for each of the trading transactions that you execute on the forex trading platform provided by them. As far as the broker and you are concerned, the significant source of revenue would be the spread, the difference between ask and bid prices. It pays, therefore, to check as to how the brokers you have shortlisted handle spreads:

Do they offer fixed or variable spreads?
What is the average and maximum spread for the currency pairs that you are planning to trade?
What spreads are offered when the volatility is very high?
Do you have to pay any commission for each trade apart from the spread?

Before buying a car, you always go for a test drive. Similarly, look for forex brokers that offer demo accounts. This helps you to open a practice account. You can try out their platform and find out for yourself as to which of the shortlisted brokers is best suited to your requirements. Most brokers offer practice accounts these days. So, it is easy for you to get a feel of the brokers’ platform before committing to depositing money and trading.

#9: Other Parameters for Identifying the Best Forex Brokers

The forex brokerages that offer very low account minimums can be considered for evaluation under the category “best forex brokers”. This is good because you don’t have to deposit large amounts of money in order to trade forex. Minimum account balance can be as low as $5 in the case of some of the reliable forex brokers.

Online forex brokers often try to snatch business through promotions. Do not fall prey to their sales gimmicks. Best forex brokers would never make unbelievable and unachievable promotional offers. It is true that cash and prizes form part of the game, but they should be reasonable.

Another aspect to look for when evaluating online forex brokers is the educational services offered by them. This helps you to master the art of forex trading. Brokers that provide you with a variety of educational tools for assisting you in assessing the Forex market are the best forex brokers to work with.

Why Expert Traders Trade With Regulated Forex Brokers

If you’re looking to become a successful Forex trader, then working with a skilled and trustworthy broker is very crucial. in the Forex market, the two main types of brokers you’ll get include the regulated and the non-regulated brokers. Obviously, the former typically operates under regulations stipulated by a forex regulator. Regulated Forex brokers must also be fully licensed and registered in their country of operation, unlike their non-regulated counterparts.

Role of regulation

Of course, the role of regulation in Forex market cannot be underestimated. Regulation ensures that all players in this booming industry are strictly supervised. This way, merchants are protected from the many unscrupulous traders out there looking to swindle them off their hard earned money. Another thing, regulation also builds trust between merchants and their brokers, since most merchants don’t have enough time to monitor every investment.
Let’s take a quick look at some of the leading regulatory agencies:

  • CFTC and NFA: Commodity Futures Trading Commission and National Futures Association, regulate the financial services sector in United States of America (USA).
  • CySEC: The Cyprus Securities and Exchange Commission is the regulatory watchdog within the CySEC domain. It offers services to the EU member states.
  • FCA: The Financial Conduct Authority regulates the operations of over 56,000 financial services and companies in the UK.
  • ASIC: The Australian Securities and Investment Commission regulate the financial services sector in Australia.
  • FSB: The Financial Services Board is a South African agency which oversees functioning, regulation, and licensing of South African Forex brokers.
  • BaFin: BaFin is a financial supervisory authority providing its services to Forex companies in Germany.

Advantages of regulated Forex brokers

With regulated brokers, you’ll always have some peace of mind when carrying out your real-money transactions. To expound more, here are the main reasons why expert traders prefer regulated brokers:

1. Credibility

It’s an open secret that most of us like to deal with trusted organizations, especially when money is involved. That being said, the credibility of any Forex broker is greatly enhanced if the company is regulated by the relevant agencies. Remember that all regulated forex brokers are mandated to follow some strict rules put in place by their respective regulatory bodies. Furthermore, their regulatory bodies expect them to regularly present a copy of their audit report. Therefore, if a broker is listed on its regulatory body list, then it’s safe to say that the Forex broker has fully complied.

2. Compensation

Getting compensated in case of any unfortunate scenario is arguably the best reason why most expert traders opt for regulated brokers. With most regulated brokers, you can rest assured that all your hard earned money will be refunded in case your brokerage firm goes down. For example, brokers operating under CySEC are required to remit their contribution to the ICF (Investor Compensation Fund). This pool of funds is to help settle any form of customer claims in case of any eventuality.

3. Effective Customer Service

Before choosing a Forex broker, it’s always recommended that you settle for one who can effectively and immediately resolve all customer issues. In this case, most regulated brokers are always competent enough when dealing with technical support or account issues. In addition, they are very helpful and kind during the whole account opening process.

4. Quick Deposits and Withdrawals

Any reputable Forex broker will allow their merchants to make deposits and withdrawals without any hassle. A regulated broker should have no reason whatsoever to make your earnings process difficult because they don’t have control over your funds. All they have to do is to facilitate the platform to make it convenient enough for you to trade.

5. Updated Trading Platform

Most regulated brokers are mandated by their respective regulatory authorities to provide their clients with the latest, powerful, and easy-to-use trading platforms. In fact, most of their platforms will readily provide you with all that you need to begin trading immediately. You’ll get a lot of educational materials including webinars, videos, articles, seminars, and e-courses at no extra charge. It goes without saying that regulated brokers also offer their clients free demo accounts to help them sharpen their skills before going live.

6. Legality

All over the world, governments are struggling to deal with issues concerning money laundering. Some of them have even gone ahead to pass very strict anti-money laundering laws. So to be on the safe side, you should always trade with a regulated broker. Most regulated Forex brokers will ask you to provide some of your personal identification documents such as proof of address and photo ID. This might sound tedious to you but it’s always safe to be part of a regulated organization that can prove your money is being used in a legal way.

To sum it up, regulated Forex brokers are always the best as well as the safest option to trade with. This is because they are always ahead in terms of legality, security, and safety of your funds. All in all, you can manage your risks better if you opt for a regulated Forex broker.

Understanding True ECN vs STP Broker

The foreign exchange market, also known as currency market, is a universal decentralized market that provides traders an opportunity to trade currencies. It is a market which incorporates all aspects of buying, selling, and exchanging currencies at the present-day or determined rates.

There are different kinds of forex brokers that you can choose to trade forex with. However, though all the brokers in forex are intended to provide a similar basic solution, the way they operate behind the scenes is different. Different types of brokers have varying techniques of operation, and the specific broker you cooperate with can significantly determine your success rate as a forex trader. Here are some crucial factors that will enable you determine which broker between a true ECN and STP broker is the best one to trade forex with:

Understanding True ECN vs STP Broker

True ECN i.e. Electronic Communications Network brokers operate without their individual dealing desk. These brokers provide an electronic trading platform where professional market makers at monetary organizations such as banks, and other online trading participants including traders can enter bids and offers through their particular systems.

STP i.e. Straight Through Processing brokers are brokers without a dealing desk also. These brokers apply some of the techniques utilized by market makers to provide their particular clients with trading conditions which are more flexible. By STP brokers hiring some of the tactics of market makers, they are able to bypass the limitations connected to trading exclusively within the interbank market.

General Overview of True ECN and STP Brokers

  • Use of Scalping Techniques

True ECN and STP forex brokers do not care about how much their particular traders make. Therefore, these types of brokers allow traders to utilize scalping techniques to close their respective positions. Note that false ECN and STP brokers cannot allow you to use scalping techniques as a trader since they will be disadvantaged anytime you make small profits.

True ECN and STP brokers are types of forex brokers without a say when it comes to control on spread provided. These brokers have no control on spread offered since it’s the liquidity provider that determines the spread which is to be provided.

Though true ECN and STP brokers can add markups when necessary, they cannot in any way take it further down than the amount provided.

Difference between True ECN and STP Brokers

On true ECN accounts, as a trader you will be required to pay a fixed commission to open and close trades. The Spreads offered on true ECN accounts are determined by the rates of liquidity providers.

When using STP accounts as a trader, you will not be required to pay any commissions.

Pros of Trading Forex with a True STP Broker

  • Cannot Bankrupt Themselves

True ECN brokers cannot trade against their specific clients to bankrupts themselves.

If you are a forex trader, trading with a true ECN broker means you are guaranteed of price rates that are similar to those of the interbank market.

  • Negative Balance Protection

As a trader utilizing the trading account of a true ECN broker, the broker will be accountable for any dues with liquidity providers should your account read negative as a result of any reason beyond their control.

Cons of Choosing a True ECN Broker

Dealing with a true ECN broker will require you to pay rollover fees and commission at times.

Pros of Trading Forex with an STP Broker

  • Their rates and the interbank prices are same
  • They provide their clients low entry capital requirements

Cons of Choosing an STP Broker

Choosing an STP forex broker means when you enter a trade you’ll not be informed what spread to expect.

The Bottom Line

Most true ECN and STP brokers are linked to several liquidity providers at the same time period. Despite both true ECN and STP brokers having incredible trading solutions which can meet your needs as a trader, their terms of operation vary. Whether you will choose a true ECN or STP broker, the rule of thumb is always ensuring you minimize losses and maximize profits as much as you can when trading forex. Ensure you compare carefully the terms of service of both a true ECN and STP broker before you choose one to handle your trading needs.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

Like this post? Please share to your friends:
How To Make Money on Binary Options Trading
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: