Best Cryptocurrency Brokers in 2023
Regulated Cryptocurrency Brokers
Here’s a breakdown of some of the best and most popular cryptocurrency brokers.
Regulatory agencies ensure that brokers operate in a transparent and honest way. They protect the best interests of clients and also feature an investor compensation scheme which protects trader's deposits up to a certain limit. Some of the major regulators in the industry include the CySEC in Cyprus, the FCA in the UK and the ASIC in Australia.
A trading platform is a computer or mobile software program used to execute transactions within the financial markets.
A list of features that provide a given broker with a competitive edge.
The table below contains links to 3rd party websites of our top partners from whom we receive compensation at no additional cost to you.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
The cryptocurrency market is more live than ever. If we want to get on the right track right from the beginning, we need to choose our crypto broker carefully. Every broker offering crypto trading is not the same. If a broker meets the requirements of one particular client, it does not mean that it will also meet yours. There are several aspects to think about when choosing your cryptocurrency broker.
How to go about choosing the best crypto broker
To avoid being scammed or treated unprofessionally you should trade solely with regulated brokers. Only brokers that are regulated in your jurisdiction can legally offer services to you, such companies are under constant supervision of the regulatory body. There are 2 major financial regulators in Europe; the CySEC and FCA. A broker that is regulated by one European regulator has the right to provide cross-border services to other members of the European Economic Area.
A broker that is, for example, regulated in Cyprus by the CySEC provides the same investor protection even for a trader from Germany, Italy, Netherlands or any other EEA country member.
In Australia and South Africa, the most prominent financial regulators are the ASIC and FSCA, respectively.
Before you open your trading account at a brokerage company, you have to first find out whether the broker you are considering offers all the cryptocurrencies you want to trade. Bitcoin, Ethereum, and Litecoin can be traded almost everywhere. Less popular cryptocurrencies like IOTA, Monero, Zcash, and others might, however, not be available on every trading platform. In case you want to trade them at any point, keep this in mind and make sure it will be possible.
Cryptocurrencies are volatile in their very nature, but if you want to trade with bigger capital than you have you can take advantage of leverage. All brokers that are regulated in the EU follow ESMA laws and offer leverage 2:1. Remember, however, that leverage does not only multiply your earnings but also your losses, should your prediction be incorrect.
You probably do not want to trade with a broker that does not include negative balance protection in the package. The negative balance protection feature ensures you never lose more money than you invest. All users that trade with a broker that is e.g. licensed by the CySEC regulator are protected against negative balance.
How much do you plan to trade with? Does your crypto broker offer to trade with a small starting capital? If not, is it an obstacle for you? Or do you plan to trade in big in order to make that big money? Decide for yourself before you choose your cryptocurrency broker.
Fees – as low as possible
Let's face it, no one really likes them, but they are always there. Yes, we are talking about fees. We know that brokers have to finance their operation somehow, but the lower the fees are, the better. In general, most cryptocurrency brokers we know charge your account with a spread (i.e the difference between the ask and bid price) and with an overnight fee. It is quite hard to determine which broker has the lowest fees as they are not fixed and they tend to change according to the current market conditions. They are also quite different for Bitcoin as well as other cryptocurrencies, so while one broker might have very competitive spreads on Bitcoin, they might charge high spreads on Stellar, or other altcoins. For that reason, the best practice is to open a demo with a reputable company to see what spreads a broker charge in real-time on cryptocurrencies you want to trade.
While the spread is plausibly the most substantial fee you will have to face when trading, you should also know how big is the overnight fee charged by your broker. The overnight fee is deducted from your balance if you stay in a position overnight. This expense should be monitored especially by traders who want to hold on to their cryptocurrencies for a while.
To beat their competition, the world's leading cryptocurrency brokers try to attract clients to an intuitive trading environment suitable for both experienced and inexperienced traders. Almost all brokers include in their offer technical analysis tools and basic risk management features like a stop loss or take profit. Most companies do not, however, limit their offer only to the mentioned necessities and also offer price alerts, advanced educational centres or perhaps even a social trading network. Here are a few special features that one of the top crypto providers with an international presence have to offer.
|Broker||Special features||Special features|
|eToro||Allows you to follow and copy other traders||Purchase of real cryptocurrencies (not only as CFDs)|
|FP Markets||Most trade executions are processed under 40 milliseconds||Frequent online webinars|
|Pepperstone||4 World's leading trading platforms; MT4 & MT5, TradingView & cTrader||Most orders are executed in less than 30 milliseconds (Pepperstone Group Limited) and 60ms (Pepperstone Limited)|
|AvaTrade||MT4 & MT5||Avasocial App (Mobile app that allows you to follow and copy other traders)|
|XTB||xStation 5||Comprehensive educational centre|
Popular Regulated Cryptocurrency Brokers
Bitcoin, Ethereum, Cardano, Solana, Dogecoin, Shiba Inu, Polkadot, Polygon, Sandbox, Binance Coin...
Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Cardano, DogeCoin, Polkadot, EOS, ChainLink, Stellar, Ripple
Bitcoin, Ethereum, Cardano, Solana, Dogecoin, Avalanche, Polkadot, Polygon, Ripple, Uniswap, Binance Coin, Tezos, Stellar, EOS, Dash, Chainlink, Litecoin + Crypto10 Index, Crypto20 Index, and Crypto30 Index.
Bitcoin, Ethereum, Bitcoin Cash, Binance coin, Cardano, ChainLink, Dogecoin, EOS, Litecoin, Polkadot, Ripple, Stellar, Tezos, Uniswap
Bitcoin (vs USD or EUR or JPY), Ethereum, Litecoin, Stellar, Dash, Bitcoin Cash, Bitcoin Gold, MIOTA, NEO, EOS, ChainLink, UniSwap, Dogecoin + Crypto 10 index
The best Crypto broker - FAQ
To answer what is the best cryptocurrency broker, we would have to know your needs and preferences. Having said that, you should look for a broker that is regulated in your country, has competitive fees and features cryptocurrencies you want to trade.
If you are based in Europe, you should look for a broker that is regulated in at least one European country. The most common financial regulator in Europe is the CySEC which is headquartered in Cyprus. If you are based in Australia, look for the ASIC regulation (A regulatory body that oversees the financial market in Australia). If you are based in the US look for the CFTC regulation.
The number one fee when trading with a CFD broker featuring cryptocurrency trading is going to be the spread. Visit a broker that you like and check their website to see what spreads they charge. You can find this info either directly on their trading platform or on a page that is dedicated to the broker’s fees.
Each broker features different assets. The most common cryptocurrencies usually have all brokers, but if you are looking to trade some less popular altcoins, make sure your broker offers them.
Yes, with most cryptocurrency brokers you can open a free demo account on which you can trade with play money. No initial deposit is required.
It depends on what crypto broker you choose. Nearly all cryptocurrency brokers feature Bitcoin, Ethereum and Ripple, but only some allow trading other-less popular coins. In this article, you could find all cryptocurrencies that some of the best crypto brokers feature.
Conclusion – The best crypto broker
It would be easy to point a finger and say this is the best crypto broker for you to choose. We, however, know that each client has different preferences so while one trader might want a trading platform with the lowest spreads to day trade cryptocurrencies, the other might rather appreciate a copy trading system to follow the world’s most successful investors. The brokers featured in this article are some of the most popular regulated cryptocurrency brokers out there, the decision of who is the best crypto broker for YOU is, however, in your hands.