14 Best Bitcoin Brokers (List and Review 2020)
Do you need a reliable BitCoin broker? Trading Bitcoin can be not only an exciting but also rewarding pastime. Therefore, it is necessary to find reliable brokers that trade cryptocurrency and provide users with an opportunity to earn on investments made. You will agree that with the growing popularity of cryptocurrency, the number of platforms to trade on increases too.
Look: this article will tell you about the best BitCoin brokers operating nowadays providing basic information and short reviews about each of them.
What is a Bitcoin Broker?
When people decide to obtain cryptocurrency, there are several most popular ways to do that: mine, win/earn or purchase it. The last method is the most popular one since it requires less effort and time. However, when a person decides to buy coins, he usually turns to an exchange forgetting about another popular way such as brokers.
BitCoin brokerage platforms can be underestimated by novice crypto holders, but it is a great mistake. They offer a bigger number of services connected with cryptocurrency and have a number of benefits surpassing ordinary exchanges. BitCoin brokers offer not only to buy cryptocurrency at a fixed price and without the identity verification (unlike exchanges), but also provide OTC trading services which allow earning on cryptocurrency volatility. It is not a secret that there are fluctuations in the crypto market and regular changes in price can serve as a way to earn on selling or buying cryptocurrency at a certain time.
Services of brokers can be a necessity if you are a crypto holder or want to become one. That is why you should look through this list of the best brokers dealing with cryptocurrency and decide which one can be used by you.
Brokers for Cryptocurrency
The most popular broker in the world is the Forex company, but it is not the only name to pay attention to when you want to trade cryptocurrency. Nowadays there are many other brokers which trade only crypto or accept fiat money as well, so it is necessary to look through their features and find the one to meet your requirements.
Initial deposit: $200, for Israeli residents $10.000
Fees: free stock and ETF trading in the EU, 0.09% spread cost for other clients
- Free stock and ETF trading in the European Union;
- Providing social trading experience;
- Possibility to copy trading portfolio performance of other traders;
- High financing rates and non-trading fees.
Born in 2007, now Etoro is a leading broker which used to introduce BitCoin trading in 2013 and added other cryptocurrencies in 2017. With its headquarters located in Israel, it serves residents of over 140 countries including the UK, Australia, and other countries of Europe and other parts of the world. Supporting multiple assets, it offers to invest in CFDs most often but stocks and crypto assets are available too. Since CFDs feature a great complexity, almost 70% of new investors lose money trading them. However, it is possible to try trading with play money using a demo version of Etoro and it takes only a couple of minutes to register an account on the platform. Verification is required if you want to fund your account with real money. The platform supports only USD accounts and all other currency deposits are automatically converted to the American dollars. A deposit fee is 0.025% and there are several ways to do that including PayPal, Bank Wire Transfer, Credit Card, UnionPay, Skrill, Neteller, WebMoney. The withdrawal fee is $25 and the minimum amount for it is $50. When it comes to cryptocurrency, there is 0.0005BTC crypto transfer fee on withdrawals in BitCoin and 0.006 units in Ethereum.
The service has a mobile version and it is available in 21 languages.
Initial deposit: no minimum
Fees: taker fee is 0.0750%, maker fee is 0.0250%
- Marking trading features highly volatile trades;
- Support of BitCoin deposits and withdrawals;
- Uses the underlying index price for purposes of margin calculations;
- Possibility to select the leverage desired;
- Multi-factor security.
BitMEX is an abbreviation meaning a BitCoin Mercantile Exchange. It is a platform offering margin-trading services – the process when traders buy and sell cryptocurrency contracts instead of coins themselves. All the deposits and withdrawals to the platform can be made only in BitCoin though it supports trading contracts of other tokens as well. In addition to a major trading altcoin, it is possible to choose from Cordano, Bitcoin Cash, Litecoin, ESO, Ethereum, Tron and others.
This broker was launched in 2014 and offers several types of contracts including:
- Future contracts;
- Perpetual contracts;
- Upside profit contracts;
- Downside profit contracts.
When it comes to fees offered by BitMEX, they are quite competitive and may differ depending on the altcoin traded. There is no commission for deposits and withdrawals and this platform can’t be used in several countries including the USA, Cuba, Syria, North Korea and several more. The website is available in 5 languages and features a fast and easy registration process.
Initial deposit: $1
Fees: 1.49% – 3.99%
Leverage: 1:200, 1:300, 1:500
- Security of funds stored in offline storage;
- High trading fees;
- 3 fiat and 7 cryptocurrencies supported;
- Very liquid.
Coinbase is one of the most popular and trusted companies offering crypto trading solutions in the modern market. It was founded in 2012 in SF and offers not only trading options but also buying, selling, and storing cryptocurrency in the built-in wallet. It is one of the largest venues to trade different altcoins which can boast a significant backup estimated at $100 million.
There is a viewpoint that Coinbase has high trading costs that consist of two components: an exchange rate (the bid/ask spreads when buying or selling) and conversion fees (minimum or percentage fee). Transactions below $200 feature a flat minimum fee, while fees for bigger sums involve a percentage ranging from 1.49% to 3.99%. Deposit and withdrawal methods depend on the country of the user but usually include Bank Wire transfers, Credit and debit cards, SEPA transfers, PayPal and others.
Coinbase supports trading of such basic coins as BitCoin, LiteCoin, and Ethereum as well as many other tokens. Moreover, there are two trading venues including a standard web portal dashboard and advanced Coinbase Pro. The last venue offers a depth of book which is also more expensive to use but provides more details on prices, liquidity, and other factors. Moreover, there are lower trading costs and a more extensive range of order types.
Thanks to the Android and iOS apps created by Coinbase company, it is possible to trade on the mobile phone with the same comfort.
Initial deposit: no
Fees: 0.075% – 0.15%
Leverage: 1:50, 1:500
- Instant approval of accounts;
- MT5 Webtrader is used for accessing a browser;
- Protection from the negative balance;
- Possibility to trade on Forex, Commodities, Indices and Crypto markets.
According to the official website of this broker, trading has evolved with its launch in 2016. Evolve Markets is a broker where users can trade BitCoin and over 10 other cryptocurrencies as well as over 50 fiat currencies on different markets. However, both deposits and withdrawals are accepted only in Bitcoin and Litecoin and are free from fees. The minimum amount to withdraw is 0.005BTC. It guarantees the ease of access thanks to MT5 Webtrader developed especially for this purpose. There is a web, desktop and mobile version of the trading platform for the comfort of every trader. Unfortunately, US citizens are restricted to access it.
It is possible to trade 45 cryptocurrency pairs on Evolve Markets. If you are a novice trader, it is possible to try a demo account, while registering on the platform, there is no need to pass through the identity verification.
Trading fees depend on the trading platform (Metatrader 4 or Metatrader 5) as well as the currency traded. Crypto is traded with the fee of 0.075% on Metatrader 5 and 0.15% per round turn lot on Metatrader 4.
Initial deposit: no
Fees: from 0.2%
Leverage: up to 1:500
- Very high spreads;
- Web and mobile trading;
- upport for MT4 trading platform;
- 55 currency pairs.
Founded in 2014, Simple FX is a non-regulated broker which is known for simplicity and power of trading. It is a CFD trading tool which can be accessed from any device including mobile ones – there are native apps for Android and iOS. The platform is suitable for beginners as well thanks to the number of benefits it has. It allows for creating multicurrency accounts and does not set up minimum deposits. The utmost security is achieved due to 2-factor authentication, while the protection against negative balance will prevent users from poor consequences.
The platform can communicate directly with the crypto wallet of the user and there are no transaction fees. There are different deposit methods including cryptocurrency such as BitCoin, Bitcoin Cash, Monero, Dash, Ethereum, Ethereum Classic, Litecoin as well as other methods such as FasaPay, Buy Crypto, Skrill, and Neteller. The number of withdrawal methods is smaller excluding Buy Crypto. There is an additional fee of 3% (or min $25) charged for inactive accounts.
The platform offers novice traders to open a demo account and try trading with play money, while the affiliate program suggested will help to increase profits too. There is over a dozen of countries restricted on the platform, so check them before registering.
Initial deposit: $300
Fees: a spread depends on the exchange used by the service
Leverage: up to 1:300
- Allows trading CFDs on Shares, Indices, Forex and Cryptocurrencies;
- Tight spreads;
- No commissions and fees;
- Extra charges for different trading activities.
What makes Plus 500 broker trustworthy is the security level it provides. Being listed on the London Stock Exchange’s Main Market for Listed Companies, it keeps users’ funds in segregated bank accounts and is secured by SSL. There are multiple ways to deposit funds including PayPal, Skrill, Visa and MasterCard, Sofort, GiroPay, Bank transfers, BPay, iDeal, Trustly, MyBank and others. It is possible to trade not only on a computer or through the web version since there are mobile apps for user comfort too. New traders can try a free demo account while 24/7 customer support will give answers to all questions. Moreover, the broker provides negative balance protection, sends free emails and notifications on market events and alerts on percentage changes and price movement. There are over 2,000 tools to be used by traders while trading fees are quite low too. The commission is absent since everything is included in the spread being a difference between the bid and ask prices. Withdrawals a free up to 5 times per month – every next withdrawal costs $10. Most of the services provided by the broker are free for users, but there are additional trading fees applied to trading overnight, guaranteed stop loss, and inactivity fee. There is a possibility to earn thanks to the affiliate program too.
Initial deposit: $100
Fees: 0.35 spread
- More than 2,000 trading tools;
- Wide spreads;
- Fast account opening;
- Available in several languages;
- Parent company is listed on the London Stock Exchange;
- Web and mobile platform.
Markets.com is a brand broker of its parent company Playtech, a company that develops gambling and casino games. One of the directions of Playtech is financial trading technology which is performed on Markets.com platform. There are two types of trading supported: Forex and CFD ones. When it comes to trading fees, this broker can be referred to reasonably priced ones. The fees are built in a spread (about 0.35), though there is an inactivity fee for over 3 months of inactivity equal to $10 per month. The deposit and withdrawal fees are absent too, while funds can be sent to the platform from a debit and credit card, bank wire transfer, PayPal, Skrill, and Neteller. There are fixed spreads on trading pairs and a great number of tools. For example, there are charts with over 90 indicators for comfortable and successful trading. The broker supports 9 fiat currencies, 5 cryptocurrencies and many other trading assets (about 2,000 in total) – trading 55 pairs. One more great benefit of this broker is powerful big data and quantitative analysis tools. However, if you are a newbie in trading, there is a free demo version to begin with.
The website is available in 9 languages and there are high security and privacy standards. The platform is easy to navigate and offers alerts, email, and push notifications to set up. Customer Support is available via the chat, email, and phone, but you cannot reach it on weekends.
Initial deposit: depends on the account, $1
Fees: from 0.92 spread, depends on the account
Leverage: up to 1:500
- Low spreads;
- Multiple account types;
- Good range of research and analytics tools;
- MetaTrader-only broker;
- Support of mobile trading through an app.
FCI licensed broker registered in Kingstown, Alpari, offers the following types of trading including MetaTrader 4, MetaTrader 5, MetaTrader 4 Mobile, and Fix-Contracts. It was founded in 1998 and most of its employees are residents of countries of the former CIS. Nowadays, it operates in over 150 countries, has licenses of 9 regulators and is a member of 4 trading platforms. There are multiple financial instruments to trade on the platform and cryptocurrencies are among them too. It is possible to offer accounts of 4 types:
This broker offers 46 trading pairs, 2 metals, 18 CFDs, 5 cryptocurrencies and multiple analytical services for the traders’ comfort. There is a unique feature of the broker called Alpari Cashback, where traders are given bonuses for any activity. It is possible to deposit money via bank wire transfers, credit and debit cards, electronic transfers, WebMoney, MoneyBookers, Qiwi, Yandex Money, Skrill, Neteller etc. The affiliate program is supported by the broker as well. Moreover, clients with the deposit over $50,000 are provided with VIP status and get a number of privileges.
Initial deposit: $100
- Multilingual support round the clock;
- Accreditation of 6 jurisdictions;
- Full control due to AvaTradeGo app;
- No Metatrader 5 support.
Registered in Dublin, AvaTrade Forex broker is compliant with MiFiD the EU investment regulations and is regulated by the Central bank of Ireland, CBI, and FSA. The yearly trading volume of the company is over $20 million. This broker features 55 trading pairs and offers the following benefits: narrow fixed spreads, no commissions, and a flexible minimum amount of the trading account. In addition to free tools to be used by traders, there is a great choice of platforms including Avatrader, MetaTrader 4 , Mirror Trader, Ava Mobile Trading etc. There is an instant trade feature with Credit Card, PayPal and WebMoney, while funds can be withdrawn instantly for holders of Ava Debit cards.
The most popular ways of depositing and withdrawing money from AvaTrade are credit and debit cards, bank wire transfers, PayPal, MoneyBookers, Neteller and others. The platform also supports a demo account for novice traders and an affiliate program for extra earnings. When it comes to cryptocurrency, this broker supports 9 popular coins and BitCoin trading for USD and EUR. There are certain restrictions per every deal but they are over several hundred thousand dollars. Despite the absence of trading commission, users must be ready to pay spreads, overnight interest calculations, maturity rollover fees, and inactivity fees.
Initial deposit: 0.001 BTC
Fees: flat fee per trade, about 0.05%
Leverage: from 1:100 up to 1:1000
- Anonymous account;
- Bitcoin deposits and withdrawals;
- Multi-level security system;
- Tight spreads and low commission rates.
Despite being a relatively new player in the trading market, Prime XBT calls itself number-one platform to trading BitCoin and over 30 other assets. The main aspect that differs this platform from others is a guarantee of leverage that never falls below 1:100. Moreover, the platform takes advantage of the latest technology that allows it to execute over 12,000 orders per second and trade the volume of $375 million a day.
This broker can be used both beginner and experienced traders thanks to its user-friendly interface and customizable layout. There are multiple chart types, numerous indicators and drawing tools that allow trading directly from the chart. There is a mobile app for Android and iOS too.
The broker charge a flat fee per trade as well as a daily flat fee for margin trading. Deposits are made in BTC and are free, though every withdrawal will cost users 0.0005 BTC. There are also trading limits for every currency to consider.
The platform serves clients from over 150 countries and supports 8 languages. The service also offers an easy-to-use leverage calculator for more accurate conclusions.
Initial deposit: 0.0001BTC
Fees: 0.05% – 0.1%
- Perpetual cryptocurrency contracts;
- All the assets are stored in multi-signature cold wallets;
- The world’s lowest taker fee;
- No overload.
BaseFEX is a broker for trading derivatives such as BitCoin futures, for example. The team of this company is located in Hong Kong, though it is registered on the Seychelles. There are two tabs for traders to choose from: BTC settles and USDT settled. All the trading pairs can be found lower next to multiple charts which can be helpful for traders.
Being one of the popular Bitcoin brokers with low fees, the last one is considered to be a difference between the taker and maker fees. There are no deposit and withdrawal fees too. Moreover, traders who operate big sums can get a discount of 50% on the commission fee.
Users of the platform will appreciate the Trade dashboard as well as over 50 different indicators to come in handy to them. There are 11 contracts offered and each of them is described in the smallest details for user comfort. The broker website can be accessed from the web or mobile app developed for this purpose. One more good news for traders is an affiliate program and a possibility to earn 30% – 40% of the commission paid.
Initial deposit: deposit enough to be able to pay for the initial margin of a trade
Fees: 0.6% on average
Leverage: from 1:50 up to 1:500
- No trading fees;
- BitCoin as an underlying asset;
- No commissions for opening and closing trades;
- Advanced charting;
- Generous affiliate program.
Founded in 2018, OverBit is registered on the Seychelles and is widely used nowadays in many different countries except for the USA, Cuba, Quebec, Syria, Iraq, Iran, North Korea and Sudan. It aims as traders of Asian countries predominantly, so the platform is translated only in 4 languages (English, Japanese, Chinese, and Korean). Both experts and newbies can access this trading platform since in addition to multiple professional tools and indicators, there is a demo mode to learn trading.
Despite not taking trading fees, there are funding fees for open positions taking place within equal intervals of time – every 8 hours. One more way of earnings for a broker is a spread, the difference between the bid and ask prices. Withdrawals are free but require ID verification.
The broker supports trades of 9 crypto pairs in the form of perpetual contracts. There is a Stop Loss feature too.
In addition to earning on trading, there is an affiliate program rewarding users who attract new traders. It can constitute from 10% up to 20% of the commission paid by the trader invited and depending on the amount traded.
Initial deposit: $10
Fees: not higher than 12.5% of the option price
Leverage: up to 1:100
- Wide range of functions;
- Margin trading;
- Multilingual customer support;
- Competitive fees.
DeriBit is a broker platform to trade BitCoin and Ethereum options and futures operating since 2016. It features an ultra-fast trade matching engine with less than 1MS Latency. All the coins are stored securely thanks to cold storage where the platform keeps 99% of all coins. Other important features of this broker are real-time auditing, liquidation, and risk management.
The broker operates a maker-taker fee model. The fee is calculated as a percentage of the underlying asset of the contract. Deposits are free and require only 1 confirmation on the network. Withdrawals can be instant or take some time to be completed, there is also a small fee which depends on the current state of the Bitcoin network. Fiat currencies are not supported while both deposits and withdrawals are processed only in Bitcoin.
Nowadays, users of over 100 countries trade on the platform. They can access it using a web version, mobile app or API as well as integrate trading bot software such as HaasOnline, BotVS, and Actant. The broker offers 10BTC of virtual funds for every trader to try the platform in a demo version. To start trading it is enough to register an account and make a deposit.
Initial deposit: 0.001 BTC
Fees: from 0.075% to 0.195%
Leverage: from 1:5 to 1:100
- Fast and effective transactions;
- Mobile trading;
- High liquidity;
- Round the clock customer support in 22 languages.
Bit Seven is a broker that offers a high profit with low investment. This is a BitCoin platform which offers leverage for Bitcoin, Ethereum, Litecoin, and Ripple trading. Over 1.27 million people have used the services of this broker. To register on the platform, it is enough to provide a name and an email as well as a mobile phone to set the 2-factor authentication. The next step is to fund an account sending BitCoin to it – other payment methods are not supported. Since the platform supports three more coins, it is possible to exchange Bitcoin for any of them after depositing. The same should be done to withdraw earnings received, there is also a network fee of 0.0001BTC. The maximum daily withdrawal is 10 BTC. It is also possible to set auto-sell rules to maximize profit and minimize losses. To exchange coins it is necessary to pay a flat fee of 0.19% on every transaction. Trading fees depend on the coin chosen: 0.075% for BitCoin, 0.151% for Ethereum, 0.193% for Litecoin, and 0.195% for Ripple.
How to Choose the Top Bitcoin Broker
Since the number of Bitcoin brokers is growing incessantly, it is important to understand how to choose the best platform for trading cryptocurrency. One of the first factors evaluated by traders nowadays is fees, of course, but it is not the only thing to consider selecting a broker. Therefore several more features to pay attention to.
There are countries where crypto trading is prohibited or restricted because of some reasons, that is why it is important to check if a broker is eligible to operate in the country you live in.
Since trading aims at increasing profits, it is natural that lower broker fees will leave more income in the user’s pocket.
Order book volume
It is important to ensure that there is enough order book volume and traders to satisfy your orders before registering on the website.
A transparent broker platform will audit information regularly and provide information about its cold storage regularly.
Deposit and withdrawal limits and ways
Not all payment methods used for depositing money are suitable for withdrawal too. Moreover, each platform has its daily limits both on depositing and withdrawals. The last ones can be also paid additionally.
Every crypto holder demands improved security level to store the assets, so the cold storage supported by BitFinex is a great idea.
There are brokers who limit leverages because of the volatile nature of cryptocurrency. However, it is important to remember that too much is not good too.
There are brokers which support several trading platforms or offer only one of them. Select a broker with a suitable platform.
Free demo account
Begin and experienced users can try if this broker platform is suitable for them and comfortable to use without a necessity to make a deposit.
Many traders leave their reviews about the platform and they can help to avoid scams.
Pros & Cons of Crypto Brokers
Using Bitcoin brokers has its benefits and drawbacks. In fact, sometimes it is not reasonable to prefer brokers to exchanges since the first ones offer the following advantages:
- Ease of the registration process and use;
- Lower fees;
- Greater control and more possibilities (tools);
- Real-time trading;
- Quick transactions;
- Middlemen are eliminated.
Unfortunately, there are also several negative sides of online Bitcoin brokers including:
- A reat risk involved;
- Necessity to get used to new interfaces and information layout;
- Quite high initial deposits;
- No personal assistance from brokers;
- Dependence on the Internet connection;
- High fees for inactivity.
It is useless to argue that the main benefit of cryptocurrency is a possibility to earn on its volatility. It may sound quite unpredictable but every trader will agree with this statement undoubtedly. Online Bitcoin brokers are the most comfortable platforms for trading cryptocurrency, so the choice of such a service must be reasonable. This article has presented readers top 14 best crypto brokers worth their attention, but it is important to remember that trading is always a risk and you need to treat it with cold heart, first of all.