9 Best Bitcoin Forex Brokers in 2024
Updated: April 24, 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
Cryptocurrency trading
is a new trend in Forex, which experts predict to have stable growth over the next five years. You do not need to open an account on cryptocurrency exchange as you can trade all popular cryptocurrencies through Bitcoin brokers.
Forex Bitcoin (BTC) Trading
Earning options for cryptocurrency trading:
transactions on short-term exchange fluctuations;
investment;
arbitration.
Trading on exchange fluctuations of cryptocurrency on the Forex market is one of
the most popular for achieving earnings. Today many brokers offer Bitcoins and other cryptocurrencies for
trading. Each company sets its own trading conditions for traders in the form of a minimum deposit, spread,
or list of available cryptocurrencies. All Bitcoin brokers provide an opportunity for traders to trade using
leverage, which makes it possible to gain profitability several times over. Also, all traders have access to
analytical tools, which gives confidence and the ability to predict the price range.
Top 9 Best Bitcoin Forex brokers in 2024
It is extremely important to choose a trusted broker for successful Bitcoin trading on Forex to protect your investments from fraudulent activities.
In this article, you can find a list of the largest
and best Bitcoin brokers offering to trade a BTC/USD pair and other cryptocurrencies.
| Broker | Minimum deposit | Cryptocurrencies available | Types of account for Bitcoin trading | |
|---|---|---|---|---|
|
$100 | ADAUSD, BCHUSD, BTCUSD, DOTUSD, DSHUSD, EOSUSD, ETHUSD, LTCUSD, TRXUSD, XLMUSD, XMRUSD, XRPUSD. | Standard, Fixed, ECN |
|
|
$200 | Bitcoin, Bitcoin Cash, Cardano, Chainlink, Dash, Dogecoin, EOS, Ethereum, Litecoin, Polkadot, Ripple, Stellar Lumens, Tezos, Uniswap etc. | cTrader, TradingView, MetaTrader 4 and MetaTrader 5 |
|
|
$100 | 26 cryptocurrencies, including Bitcoin, Ethereum, Ripple and Litecoin, etc. | FxPro MT4 Instant (with fixed spreads), FxPro MT4 Instant (with floating spreads), FxPro MT4 Market, FxPro MT5, FxPro cTrader, VIP-account |
|
|
$100 | Bitcoin, Bitcoin Gold, Dash, EOS, IOTA, Ripple, Bitcoin Cash, Litecoin, Ethereum, Stellar, NEO, etc. | Standard, Demo |
|
|
$1 | Вitcoin, Bitcoin Cash, Dash, Ethereum, Eos, Litecoin, Stellar, Monero, Ripple, Zcash, etc. | Trade MT4, Trade MT5 |
|
|
$1 | Bitcoin, Litecoin, Ethereum, Ripple, Bitcoin Cash, etc. | Standard, Pro, Zero, Raw Spread |
|
|
$10 | Bitcoin, Litecoin, Namecoin, Peercoin, Emercoin, Ripple, Eos, IOTA, Monero, NEO, Omni, etc. | Crypto account, crypto 10 account |
|
|
$50 | Bitcoin, Bitcoin Cash, Bitcoin Gold, Litecoin, Ethereum, Ripple, Eos, Dash, UTA, Stellar, etc. | Classic, ECN, Demo |
|
|
$10 | Bitcoin, Bitcoin Cash, Ether, Ripple, Litecoin, etc. | Insta.Standard, Insta.Eurica, Cent.Standard, Cent.Eurica |
|
How to Choose a Bitcoin Forex Trading Platform?
ЕYour success depends directly on your choice of a
broker.
According to professional traders, it is critical that you pay
attention to the following criteria:
list of available cryptocurrencies for trading.
The wider the list, the more opportunities you have to
profit;
real reviews about brokers.
They warn against potential problems and help you choose a
reliable broker;
the minimum deposit to open a real trading account.
The best Bitcoin brokers often set a low threshold for
entering the market, therefore simplifying the learning process and allowing you to start
trading without risking large a investment;
broker’s features:
Licensing, several options for working platforms, favorable
trading conditions, transferring funds between internal accounts, and bonus programs that
make working with a broker enjoyable and profitable.
Entrust your funds only to reliable licensed Bitcoin brokers that provide quality
service. You can verify any Bitcoin broker on our website in the broker’s dossier in the rating section.
There you will find information about licenses and customer reviews of a broker.
How to Trade Cryptocurrencies on Forex?
Cryptocurrency trading in the Forex market implies the sale and purchase of
CFDs, but not real assets. Profit consists of the price difference between the sale and purchase, that
is, it is speculation on a change in cryptocurrency rates. When trading on Forex you don’t obtain
ownership of bitcoin or currencies credited to your wallet, unlike buying Bitcoin on cryptocurrency
exchanges and foreign exchange offices. This allows you to save on commissions when trading. That is why
recently there has been an increase in interest in trading in cryptocurrencies with Forex brokers.
Crypto assets are traded on the Forex market 24/7, which allows you to trade on
weekends. Crypto traders often trade every day because digital currencies fluctuate even on weekends.
In general, the cryptocurrency trading process in the Forex market is no different
from regular currency trading. To start, open and replenish a real account. You are welcome to register on
the Traders Union website first, which will allow you to get additional profit.
Bitcoin Forex Brokers Vs Crypto Exchanges
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.
| 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?
New types of cryptocurrencies are added to the Forex market every year. For example,
according to analytical updates, the Tether cryptocurrency (USDT) is increasing its
capitalization and
catching up with Bitcoin and Ethereum on demand. Also, the EOS cryptocurrency shows
an increase in
popularity on many exchanges after improving its blockchains.
Many traders still use Bitcoin as a base currency, so the probability of making a profit
increases when Bitcoin is one of the cryptocurrencies that make up a currency pair.
The Top 5 most popular crypto-pairs:
BTC/ETH;
USDT/XRP;
XRP/BTC;
ETH/USDT.
XRP/ETH;
The new trends also indicate an increase in USDT trading volumes. Such pairs as
USDT/BTC, USDT/EOS, USDT/XRP, and USDT/ETH are also rapidly gaining popularity in 2024.
Choosing a crypto-pair for trading focuses not only on its current popularity but also
on the forecast of trends regarding the demand for it in the future.
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.
👍 Advantages:
• 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.
👎 Disadvantages:
• 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.
How to Make Money Trading in Cryptocurrency? | Expert Opinion
It was less than five years ago when brokerage companies first offered
cryptocurrency as a trading tool: High volatility made it popular among traders who are risk-tolerant but
not suitable for those who are risk-averse. Today, every Forex broker among the Top 20 of the best companies
provides an opportunity to trade in cryptocurrencies.
Trading cryptocurrency is not much different from working with regular
currency pairs or stocks. However, it is much more affected by the news. Any information on the sale and
purchase of a large batch of Bitcoins or other digital currency is quickly disseminated and greatly
affects the exchange rate. For this reason, it is not recommended to use long-term strategies for
cryptocurrency. But news trade and candlestick analysis on small timeframes will match. The key
advantages and disadvantages of digital currency trading are connected to its high volatility.
Therefore, sudden currency jumps make it possible to get a large amount of profit in a single
transaction. In contrast, the same fluctuations in price may lead to substantial losses of your invested
funds.
This suggests that the use of cryptocurrency pairs with Bitcoin as financial
instruments requires the ability to correctly analyze the market and respond quickly.
FAQs
Is cryptocurrency suitable for novice traders?
In trading, there are no restrictions on
the professional level of traders for trading cryptocurrencies. Novice traders can take a
broker training and practice course for the first time on a demo account.
What cryptocurrency is best to start working with?
The most popular cryptocurrencies are
Bitcoin and Ethereum and transactions using them are carried out daily all over the world.
What is the legal process of cryptocurrency trading on Forex?
In the Forex market, ownership of the
cryptocurrency can not be transferred — you are trading through CFDs. Earnings are formed
from the price difference between buying and selling.
How to choose a reliable Bitcoin broker?
To choose a reliable Bitcoin broker, use
the rating of brokers from Traders Union, where information about their reputations and
advantages and disadvantages is presented.
