Best Cryptocurrency Brokers 2024
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Are you looking for possibilities to get real profit from cryptocurrency hype or maybe you think about alternatives of simply investing money in Bitcoin or other digital coins in November 2024 remembering that losses could occur as well? At this moment it’s quite difficult to find people, who haven’t heard anything about cryptocurrencies and the crazy rise of their value during the last years.
Of course, many of us want to get a share of this huge money pie but you should not forget about a high risk of definite financial losses. But, how to get some money from this hype? One of the quite simple methods is to start trading by cryptocurrencies. Below you will find the list of reliable brokers that offer necessary tools for trading by cryptos.
Comparison of best crypto brokers for trading
| Company | Min deposit | Spread on Bitcoin | Max leverage | Trading tools | Funding via | Regulators | Official site |
| Roboforex
|
$10 | 705 pips ($70,5 per lot) | 1:10 | Bitcoin, Dash, BitcoinCash, Ethereum, Litecoin, Ripple | Bank cards (Visa or Mastercard), Skrill, Neteller, Fasapay, Epayments, Bitcoin | CySEC, IFSC, FCA, BaFin | Visit official site |
| FBS
|
$100 | 1000 pips | up to 1:3000 | Bitcoin, Dash, Ethereum, Litecoin | Bank cards (Visa or Mastercard), Skrill, Neteller, Bitcoin, Perfect Money, OkPay, Wire transfer, | CySEC, IFSC | Visit official site |
| NordFX
|
$50 | $40 per lot | up to 1:1000 | Bitcoin, Dash, BitcoinCash, Ethereum, Litecoin, Ripple | Bank transfer, Visa, Mastercard, Bitcoin, Skrill, Neteller, Qiwi, Payza, Alipay, Perfect Money, Fasapay, Webmoney | VFSC, CyYSEC | Visit official site |
| OctaFX
|
$100 | from 14.5 pips | 1:2 | Bitcoin, Ethereum, Litecoin | Skrill, Neteller | Law of Saint-Vincent and the Grenadines | Visit official site |
| Instaforex
|
$1 | from 0.1% | 1:1000 | Bitcoin, Ethereum, Litecoin, Ripple | bank cards, bank wire, Payco, Skrill, Neteller, China Union Pay, WeChat, Alipay, Paysec, Paxum, GiroPay, Epayments, Bitcoin | CySEC, BVI FSC | Visit official site |
Deriv
|
$1 | from 0.9 pips | up to 1:500 | Bitcoin, Ethereum, Litecoin | Bank transfer, credit cards, Skrill, Neteller, China Union Pay, Perfect Money, Okpay, Ecopayz, Fasapay | FSA, FCA, MGA, FFAJ, KLFB, BaFin | Visit official site |
| Tickmill
|
$25 | from 2 pips | up to 1:500 | Bitcoin | Bank transfer, credit cards, Skrill, Neteller, China Union Pay, Dotpay, Fasapay | FCA, FSA | Visit official site |
| Plus500 Ltd
|
$100 | depends on instrument | up to 1:30 | CFD Service (Bitcoin, BitcoinCash, Ethereum, Litecoin, BNB, Solana, Tron, Cardano, Avalanche, Polkadot, Polygon) | Wire transfer, Visa, Mastercard, Paypal, Skrill and other | CySEC #250/14, FCA #509909, ASIC #417727 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money |
Visit official site |
| FortFS
|
$5 | 1.5% | 1:3 | Bitcoin, BitcoinCash, Ethereum, Litecoin, Ripple, Dashcoin, Zcash, Monero | Bank transfer, credit cards (Visa or Mastercard), Skrill, Neteller, Qiwi, Perfect Money, Fasapay | IFSC | Visit official site |
Fxopen
|
$10 | 0.5% | 1:3 | BTC, ETH, BCH, Ripple, Monero, ETC, LTC | Bank transfer, Netbanx Asia, China Union Pay, Credit/Debit Cards, ePayments, Skrill, Neteller, Perfect Money, Payza, Fasapay, bitcoin, Litecoin | FSA | Visit official site |
So, people try to buy cryptocoins or invest in them to make a profit when the coin’s value goes up or fix losses when the prices fall. But usual investing in crypto assets (Bitcoin, Dash, BitcoinCash, Ethereum, Litecoin, Ripple, Zcash, Neo, Monero) is not as profitable as usual trading on them. And, of course, usual trading is preferable because of some other reasons:
- you may get profit faster remembering about the risk of losses. When you invest in Bitcoin or other coins via usual currency exchange services, you need some days to get your coins to the balance of the wallet. After that, you should wait until the price of your coins becomes enough high to sell your coins and fix the profit from your cryptocurrency investment. It could not be too fast. But, if you trade by cryptocoins via any online cryptocurrency broker in 2024 then you see that you may get a reasonable profit for 1 hour or some losses could occur as well. Online brokers can offer you the ability to sell or buy Bitcoin, Ethereum, Dash, Ripple, Litecoin, or other coins with the click of your mouse.
- Besides such a difference in the velocity of making a profit with a definite risk of financial losses, you may even earn money shorting cryptocurrency if the rate of cryptocurrency is falling. When you invest money in an asset remembering the risk of losses, you need only the rise of the cryptocurrency rate to make a profit and nothing other. So, a crypto broker offers you the trading tools for getting profit from the growth of the bitcoin price when you invest in it and from its fall when you short the bitcoin.
- Usually, the most volatile assets are the most profitable for traders and the riskiest, of course. As you may see last month, bitcoin and other altcoins are super volatile. So, cryptocurrencies have a high potential for making crazy profits via trading or huge losses, of course.
- Available leverage. Leverage gives you the possibility to trade cryptocurrencies with the biggest volumes than if you do it in the process of actually buying the cryptoasset. For example, you have $100. Your leverage is 1:2. So, if you deposit your trading account by this $100, then you may use it to trade $200. Due to the leverage, you may make a really big profit using the small trading capital at your start or you may quickly lose all your deposits if forget about the risk. But, if you want to make a real investment in assets on cryptocurrency markets then you may use it for buying only $100 without any leverage and even do not dream about high profits at this stage. Do not forget that high profits and high risks travel together.
- Last time you may see in the news that many crypto exchange services have become the reason for problems for investors. In another way, there are many reliable regulated online brokers, which may offer trading good conditions and almost all big popular digital currencies (BTC and others). Plus500: Availability subject to regulation.
How to choose cryptocurrency broker?
Now, you may see so many broker’s offers in the cryptocurrency market, that it may be a real difficulty to choose the best broker listed here, it can be difficult to know which cryptocurrency broker will be best for you. So, how to choose the best broker for cryptocurrency trading? Below I offer you some important moments that you should keep in mind when making your choice:
Regulation of cryptocurrency markets
There are many regulatory authorities in the trading market. The regulatory authority sets rules and provides services to protect both sides of the market: traders/investors and cryptocurrency trading companies. Your money will be at high risk of loss if you trade via brokers without any license from regulators.
The main regulatory authorities of the CFD (Contracts for Difference) market are ASIC (Australian Securities and Investments Commission), IFSC (International Financial Services Commission of Belize), FCA (Financial Conduct Authority), and FSA (Financial Services Authority) from Great Britain, BVIFSC (Financial Services Commission) from the British Virgin Islands, BaFin (The Federal Financial Supervisory Authority) from Germany, CySEC (Cyprus Securities and Exchange Commission), FINRA (Financial Industry Regulatory Authority) and NFA (National Futures Association) from the USA.
The broker should have at least one license from one of these regulators, but it will be better if your cryptocurrency broker has licenses from some of these regulators.
Trading platform of cryptocurrency brokers
Your entry point to the CFD market is the trading platform. Checking the kind of platform you can use for crypto trading is therefore important when selecting the best cryptocurrency broker. It should have been swift and gentle, easy to use, and work well with a variety of instruments.
Accounts conditions for cryptocurrencies
Best cryptocurrency brokers should provide their customers with a large selection of adaptable trading accounts. Keep in mind that the spread on your account needs to be minimal or competitive when compared to other brokers, and you need to have enough high leverage. As an aside, I did mention leverage at the start of my article.
Leverage: what is it? It is the proportion of your funds to any loans you may accept from the broker. Therefore, you are free to use the entire amount of your broker’s funds for trading. Do not forget that there is a direct correlation between leverage and risk. However, at that historical point, trading with more capital yields larger gains due to the increasing leverage.
Supported digital assets
You may find which cryptocurrency coins you can trade with each broker in the list of best cryptocurrency brokers that was provided at the start of this article. While some brokers solely allow Bitcoin trades, others allow trades with a wider range of assets. Thus, select a broker who can allow you to trade any digital currency that you want to use.
Remember that only a small percentage of the existing number of digital currencies have sufficient volatility and liquidity to provide significant profits.
Customer support for cryptocurrency traders
Understand, that you may trade in the cryptocurrency market in 24/7 mode. Of course, there will be many cases when you need help from a broker. It’s very important that the broker’s customer support service could be in touch 24 hours 7 days a week. It’s good if there will be a live operator from the broker’s side, who may help you with your problems in text or voice mode.
So, try to know if you can get quick answers from them about trading conditions, deposits and withdrawals, company regulations, and others. Be sure that your preferred cryptocurrency broker has a professional and experienced support service.
Some useful notices about cryptocurrency market
Is there a difference between an exchange service and a trading broker?
The platform that allows users to invest fiat (actual) money in cryptocurrency assets or exchange their cryptocurrency assets for fiat money is known as a cryptocurrency exchange. Most cryptocurrency exchange websites are brand-new businesses that emerged in the previous three to five years as a result of the buzz around digital currencies.
You can invest in cryptocurrencies through these exchanges, store them in a digital wallet, use them to make various online purchases, and sell them when you need to. However, you might only benefit from this investment if the cryptocurrency you have in your digital wallet sees an increase in value as a HODLer.
With a trading broker, you may buy or sell digital currencies without storing them in a digital wallet. You do not get the asset on your own, you only negotiate the contract about moving the price up or down. So, with the trading broker, you may earn your profit not only from growing the asset price but from its lowing too.
Which cryptocurrencies are most profitable to trade?
Many cryptocurrencies may be used for profitable trading because of their super volatility! Simply analyze market trends and you will get your profit. Do not forget about significant risks that could not be avoided by traders and possible financial losses related to trading.
How to start profitable trading of cryptocurrencies in a short time?
Choose a good broker, open a real account, fund it, use leverage for trading cryptocurrencies, and analyze the market. Of course, you may try to trade via a demo account at the beginning of work or via a real account using the broker’s welcome bonuses. The regulated brokers under FCA, CYSEC, and ASIC regulations do not offer bonuses.
Is there a simple and effective trading strategy for starting in cryptocurrencies?
I’ve gathered a pack of 3 interesting videos with actual strategies and indicators for cryptocurrency trading. These strategies are quite simple, as I think, even beginners will get enough of useful information to start their profitable trading on Bitcoin, Ethereum, Ripple, and other altcoins in short terms after watching this set of videos.
1) Here you may watch the detailed review of how bitcoin traders use indicators MACD and RSI in their work. You will know how to add MACD and RSI to your trading charts, you will see how MACD and RSI may help to find good entries for opening orders.
2) From the next video you may know all about the interesting strategy “The Pivot Reversal Strategy” which will indicate good points for the buying or selling of cryptocurrencies. Besides this strategy may show the state of the current market if it has a bullish or bearish trend.
3) Here you will know how to define excellent entry for selling or buying bitcoin or other altcoins in a 5-minute timeframe using indicators MFI and MACD. You will see aggressive and conservative methods of this trading strategy.
By the way, if you know other reliable cryptocurrency brokers in 2024, that provide good opportunities for earning money, then write about them via comments and I’ll add them to the list.
I did not see any broker in your review with the option for trading by Hamster coin. Do you know such a broker? I have these coins in my Telegram wallet but can’t find the broker or stock exchange for its cashout.
Hmm, as I know there wasn’t any coin’s airdrop from Hamster creators/owners before this day. Is it really Hamster coins in your wallet or, maybe, something different?
Whoa, thank you for sharing this helpful info. I used to trade cryptocurrencies with Plus500, but after reading your analysis of cryptocurrency brokers, I moved to NordFX. It’s my favorite cryptocurrency platform right now because of its huge liquidity, fast execution, and lack of slipping. Right now, Nordfx provides great opportunities for my scalping strategy. Once again, I want to thank you for your valuable help in trading and making income.
As an experienced trader, I’m unsure of whom I would recommend Plus500 to. During my trader’s career, I’ve traded with a diverse range of different brokers, both large and small, but this is the first time I’ve witnessed stagnation over five years in such a big broker’s development. The learning resources are virtually nonexistent, and the information provided on the Plus500 site is incomplete.
The Plus500 restricts bots and advisors, lacks investment options, and I do not understand who Plus500’s target audience is. Without these instruments, it’s impossible to trade cryptocurrencies with profit. It’s very sad. But, if you want my advice, try Roboforex or Tickmill.
My trading began on Plus500 back in 2012. It had no cryptocurrency tools at that time. At that time, Plus500 was still a good broker for beginners. The conditions seemed enough attractive for a beginner like me. My first success in forex trading was there. The broker Plus500 cashed out my hard-earned money momentally. After some time, I tried trading with FBS and decided to stay there. A year ago, curiosity drove me back to Plus500 to see its progression, but I was shocked. The Plus500 spreads seemed to be crazy and, to my surprise, there were withdrawal issues. I had difficulties even with processing the withdrawal of my deposit from Plus 500.
I rarely share my story with people, not only because it put me at the lowest point ever but because it made me a person of ridicule among family and friends. I put all I had into Binary Options ($690,000) on cryptocurrencies pair after hearing great testimonies about this new investment strategy. I was made to believe my investment would triple, it started good and I got returns (not up to what I had invested). Gathered more and involved a couple family members, but I didn’t know I was setting myself up for the kill, in less than no time all we had put ($820,000) was gone. It almost seem I had set them up, they came at me strong and hard. After searching and looking for how to make those scums pay back, I got introduced to new strategy which helped recover about 80% of my lost funds within a month.