9 Best Bitcoin Forex Brokers in 2024
Best bitcoin Forex broker - AMarkets
TOP bitcoin Forex brokers:
-
AMarkets - best broker for trading with advisors.
-
Pepperstone - with better trade execution.
-
FxPro - best for testing strategies on micro lots.
-
AvaTrade - best for trading with innovative technologies.
-
Admiral Markets - well-regulated broker
Forex Bitcoin (BTC) Trading
Top 9 Best Bitcoin Forex brokers in 2024
How to Choose a Bitcoin Forex Trading Platform?
How to Trade Cryptocurrencies on Forex?
Bitcoin Forex Brokers Vs Crypto Exchanges
Bitcoin Brokers | Crypto Exchanges | |
---|---|---|
Assets | Forex pairs, major cryptocurrency pairs, CFDs on gold, energies, stocks, ETFs, and other types of assets | Cryptocurrencies, cryptocurrency futures and options |
Number of cryptocurrency pairs | Up to 20, mainly only major coins | From 100 to several thousand, including rare coins |
License/Regulation | Strong. Top brokers hold the licenses of the EU, UK, Australia and the USA | Weak. The majority of exchanges are not regulated |
Commissions for BTCUSD | Floating spread, which depends on the liquidity in the market | Typical fee on the trading volume – 0.2% |
Deposit/withdrawal methods | Debit/credit cards, electronic payment systems, cryptocurrencies | Cryptocurrencies, also debit/credit cards, electronic payment systems, but only at top exchanges |
Conclusion:
Many novice traders and investors have a logical question: “Which is better: a Bitcoin Forex broker or a cryptocurrency exchange?” After all, both options have their pros and cons. We have compiled a comparative table to help you make the choice. We used typical examples, although the conditions of specific brokers and exchanges may differ to an extent.
What cryptocurrencies are traded on Forex?
Advantages and disadvantages of crypto trading
It is worth evaluating the advantages of this financial instrument over the usual currency pairs of the Forex market, as well as considering all its shortcomings to determine whether cryptocurrency trading is suitable for you.
• unlike trading in classic currency pairs on weekdays, cryptocurrency pairs with BTC can also be traded on weekends;
• as a rule, cryptocurrency pairs are more volatile than regular currencies. And this increases your potential profit.
• digital currency is less stable than classic currencies. Sudden jumps/drops in the value of crypto-pairs increase risks when trading;
• it becomes more difficult to analyze the price changes due to the strong volatility of the market; therefore, a trader will have to devote more time to forecasting cryptocurrency compared to trading in classic currency pairs.
A trader needs to be able to navigate the market situation well, forecast the price, and react quickly to gain large profits on cryptocurrency trading, otherwise strong volatility can cause serious losses.