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Best Bitcoin Cash Trading Brokers 2020

Bob Mason
Last Update:
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For investors and traders looking to enter the crypto world and trade via a crypto broker, there are a number of key considerations that must be made in the selection process.

The first and most obvious decision is on which cryptos you wish to invest or which pairings you wish to trade.

With the crypto market becoming more sophisticated, you will also need to decide on whether to invest in actual cryptos or derivative products.

These considerations will reduce the number of crypto brokers that can meet your trading requirements.

At this juncture, you will then need to decide on which broker offerings are most important in your selection criteria. Such characteristics can include spreads, reputation, deposit and withdrawal options, and minimum deposit requirements.

The brokers below represent the best Bitcoin Cash Trading Brokers.

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BrokerRatingOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptoCommission on tradesFixed spreadsoffers promotionsOfficial Site
Plus500
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76.4% of retail CFD accounts lose money

ASIC, CySEC, FCA, FSB, ISA, MAS

$100

1:30

Plus500

2008

No dealing desk

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76.4% of retail CFD accounts lose money

eToro
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62% of retail CFD investors lose money

ASIC, CySEC, FCA, MiFID

$200

N/A

eToro Platform, MT4, MT5, Tradologic, Zulutrade

2007

Market Maker, No dealing desk, STP

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62% of retail CFD investors lose money

Pro Tip: Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.


Plus500

Regulated By:ASIC, CySEC, FCA, FSB, ISA, MAS

Foundation Year:2008

Headquarters:Building 25, MATAM, Haifa, Israel

Min Deposit:$100

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76.4% of retail CFD accounts lose money

Plus500 was founded in 2008 and is the main sponsor of football club Atlético Madrid. The Plus500 trading platform is offered by Plus500 UK Ltd which is authorised and regulated by the UK Financial Conduct Authority and is also a subsidiary of Plus500 Ltd which is a publicly-traded company listed on the London Stock Exchange.

The broker’s trading platform is available in more than 50 countries and is authorised and regulated around the world by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), the Monetary Authority of Singapore (MAS) and the Israel Securities Authority (ISA), among others.

Pros: Cons:
  • Multiple regulations from around the world – FCA, CySEC, ASIC, MAS, ISA.
  • More than 2,500+ CFDs to trade on, covering multiple asset classes.
  • Commission-free trading.
  • Simple to use proprietary trading platform.
  • Multilingual customer support 24/7.
  • No phone support offered.
  • Lack of market news and trader education.

eToro

Regulated By:ASIC, CySEC, FCA, MiFID

Foundation Year:2007

Headquarters:Kanika International Business Center 7th Floor, 4 Profiti Ilia Street Germasogeia, Limassol, Cyprus

Min Deposit:$200

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62% of retail CFD investors lose money

eToro is an online trading platform that was founded in 2007 by the Assia siblings and their friend David Ring in Tel Aviv, Israel. Formerly known as RetailFX, eToro is the pioneering online broker for social trading. Their Openbook social trading platform in fact changed the nature of the way beginner online traders can trade the financial markets. It made the markets accessible to everyone, no matter what their level of experience by creating a user-friendly environment and allowing traders to copy the trades of other traders’ strategies automatically.

Pros

  • Highly regulated broker (FCA, CySEC and ASIC)
  • Innovative trading platform
  • Wide range of assets to trade with
  • Ability to earn 2% management fee as an Investor trader
Cons

  • Spreads are higher than average
  • Does not have the MetaTrader platform

Bitcoin Cash

Bitcoin Cash is a virtual currency and blockchain stemming from a Bitcoin hard fork back in August 2017.

A battle between Bitcoin’s developers and miners resulted in a fork that increased the size of the blocks. The increase in block size permitted more transactions per second, making it a more viable alternative to the likes of Visa.

Best Bitcoin Cash Brokers by Volume

In selecting the most appropriate broker, liquidity and a wide customer base must be key considerations. Alongside liquidity and a wide customer base, the broker must also have a sound reputation and solid track record.

Therefore, some of the key considerations in identifying an appropriate Bitcoin Cash broker should include:

  • Deposit and withdrawal Control: Brokers with favorable deposit and withdrawal controls would suggest a more liquid broker. Key areas to consider include:
    • Guarantees the timely withdrawal of funds. Lengthy withdrawal times could highlight liquidity concerns.
    • Supports deposits and withdrawals with minimal to no fees and low minimums amounts.
    • Multiple funding and withdrawal options including crypto and fiat money.
  • International Player: A global presence would not only deliver a wider client base but also ensure multi-time zone brokerage services. A wider client base delivers greater liquidity and speed of trade execution.
  • Regulatory landscape: Depending upon your jurisdiction, choosing a broker within a tightly regulated jurisdiction is advisable. Tighter regulations ensure appropriate measures to protect investors and their assets.

Once you have considered the most appropriate brokers for BCH/USDT and BCH/USD pairs, you can then consider other key attributes of a broker.

Broker Selection Criteria

There are a number of key broker characteristics that should form part of the selection criteria. These must include:

  • Execution Speed: We would recommend avoiding brokers that do not ensure the fast execution of orders. The crypto market is a particularly volatile one. Slow execution of orders could result in sizeable losses.
  • Fees and Spreads: Fees and spreads are also key considerations. Punitive spreads and deposit and withdrawal fees will impact earnings or exasperate losses. At a minimum, Brokers should offer:
    • A combination of low withdrawal and deposit fees.
    • Low CFD Commission fees.
    • Minimal transaction fees.

Additionally,

    • Inactivity fees: Brokers may charge fees for inactivity. Be aware of this.
  • Funding Options: Brokers should offer a broad range of funding options. These should include payment via bank transfers, credit cards, and PayPal.
  • Minimum Deposit: Brokers who have low minimum deposits would likely have a wider customer base. This would, in turn, deliver greater liquidity and faster execution order times.
  • Reputation: It is advisable to select a broker with a good reputation and long track record relative to its peers. Generally, we would recommend that you choose brokers with track records of 3-years or greater.
  • Security: You should research the brokers and select a broker that has a high emphasis on security. Ideally, the broker should also have no history of being hacked. Some important security measures include:
    • 2-Factor Authentication.
    • Email verification for withdrawals.
    • Pin verification for withdrawals and changes to passwords, etc.
  • Support: 24-7 customer support is essential. Brokers should provide support via:
    • Live Chat.
    • Phone.
    • Email.

Other Factors for Consideration

Indicators: While the majority of brokers will provide technical and fundamental analysis, the offer of advanced charts with an array of indicators to support technical analysis is important. For more advanced traders, this will likely form part of the decision making process.

Platform: At a minimum, platforms on offer must include demo accounts, MT4, Web Trader. These should also be mobile and tablet compatible. The crypto market is a 24-hour, 7-days per week trading market. You should, therefore, avoid brokers that don’t support 24-7 trading.

Risk Management: In order to manage risk, the broker should offer guaranteed stop loss and take profit. There are a number of brokers that do not offer this.

Simplicity: Platforms should be simple to navigate, particularly for the more novice investor. Signing up with a more technical broker will have its pitfalls. Ensure that you trial demo accounts before making any commitments.

Trader Resource Offerings: Brokers should provide their client base with:

  • Free technical and fundamental analysis.
  • Tutorials and other detailed training material.

Ultimately, it is important to identify a priority list of “must-haves” from the above and carry out due diligence before making any commitment.

Crypto Product Selection

One final consideration is whether to trade actual cryptos or crypto derivative contracts. Derivative contracts would include CFDs and Futures.

Each has its own advantages and disadvantages. For those looking for enhanced earnings, brokers tend to offer leverage when trading derivatives. In the volatile world of crypto, the added advantage of derivate products is that you can go both long and short.

For those looking to trade Bitcoin Cash through CFDs and other derivative products, the following offer derivatives trading:

It is worth noting that some brokers do not permit U.S clients to trade. Due to regulatory requirements, there may be other restrictions depending upon your jurisdiction.

Upon selection of your broker, do ensure that you set up cold wallets. This allows you to safely store any idle Bitcoin Cash that you purchase. Brokers may offer custodial services. This does come at your own risk, however, should the broker provide no guarantees. If trading via derivatives contracts, you would not require crypto wallet storage.

Trade With A Regulated Broker

  • Your capital is at risk
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