Best Crypto Trading Brokers 2021

For prospective crypto investors and traders looking to access the market via crypto brokers, there are some key factors that must be considered within the selection process.

Firstly, you will need to decide on which cryptos you wish to invest and which pairings your wish to trade.

With the crypto market continuing to become more sophisticated, you will also need to decide on whether to investor or trade actual cryptos or crypto derivative products.

Brokers provide investors and traders with access to cryptos as well as CFDs and futures

The list of brokers that meet your criteria will have narrowed upon the first set of considerations that you make.

You will now need to decide on which broker offerings are of greater importance in terms of your selection criteria.

Unlike the more mature asset classes, there are some material differences in fees and spreads, support, reputation, deposit and withdrawal options, and minimum deposit requirements.

It is therefore important to prioritize what is most important in the selection criteria and carry out the necessary due diligence.

The brokers below represent the best Crypto Trading Brokers

Here’s a list of The Best Crypto Trading Brokers

• Markets.com
• FP Markets
• BDSwiss
• Exness
• Capital.com

Note: Not all Forex brokers accept US clients. For your convenience we specified

Markets.com

Markets.com was founded in 2008 and was rebranded in 2019 to MarketsX, alongside the introduction of Marketsi in 2020 to invest in real stocks and shares. The broker is part of the TradeTech Group which is a constituent of Playtech PLC, a FTSE 250 company listed on the London Stock Exchange.

The Markets.com group offers regulation from the Cyprus Securities and Exchange Commission (CySEC), the British Virgin Islands Financial Services Commission (FSC), the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC) and the Financial Sector Conduct Authority of South Africa (FSCA).

With MarketsX users can trade commission-free on more than 2,200+ CFD instruments covering Shares, Indices, Bonds, Blends, Commodities, Currencies, ETFs and Cryptos. Users can also invest in real stocks and shares via a Marketsi account which comes with an innovative Investment Strategy Builder tool.

FP Markets

FP Markets was founded in 2005 and is regulated by the Australian Securities and Investments Commission (ASIC), offering segregation of client funds and top tier liquidity. FP Markets is a group of companies that includes First Prudential Markets Ltd which is authorised and regulated by the Cyprus Securities and Exchange Commission.

The broker offers the ability to trade on more than 10,000+ financial instruments covering Forex, Equities (Share CFD’s), Metals, Commodities, Indices and Cryptocurrency CFDs. Users have access to a range of accounts including the Standard Account (commission-free) and Raw Account (commission-based) for MetaTrader users, both offering ECN pricing and maximum leverage of 500:1. Users can also access Iress Accounts which are commission-based.

BDSwiss

BDSwiss was founded in 2012 and offers trading accounts regulated under the Mauritius Financial Services Commission and the Cyprus Securities and Exchange Commission.

Users can trade on more than 250+ financial CFD instruments covering Forex, Commodities, Cryptocurrencies, Indices and Equities, on 3 account types called Classic, VIP and Raw on the MetaTrader 4 and MetaTrader 5 trading platforms and the broker’s own BDSwiss Web Trader and BDSwiss Mobile App.

Exness

The Exness Group was founded in 2008 and has licences from the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) of Seychelles whose services this review is based upon. The group has more than 120,000 active traders and posts key performance indicators on its website.

Exness offers users the ability to trade on a wide range of asset classes covering Forex and CFDs on Crypto, Metals, Energies, Stocks and Indices across five core trading accounts. Professional Accounts are called Raw Spread, Pro and Zero with account leverage of up to 1:2000 on MT4 and unlimited leverage on MT5, no trading commissions on the Pro Account and 3.5 USD commission per lot, per side for Raw Spread and Zero Accounts. Standard accounts are called Standard and Standard Cent which are both commission-free. Demo accounts and Islamic swap-free accounts are also available.

Capital.com

Capital.com was founded in 2016 and is authorised and regulated by the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). Users can trade on more than 2,000+ financial CFD instruments covering Indices, Forex, Commodities, Cryptocurrencies and Shares while accessing AI technology to analyse your trading behaviour.

The broker offers access to three types of commission-free trading accounts called Standard, Plus and Premier and also offers a Pro Trading account for those categorised as Professional, as well as the use of a demo trading account. Users can trade from Capital.com’s own, feature-rich web trading platform and mobile trading app with the ability to use 70+ technical indicators, access personalised watchlists and use advanced hedging and risk management tools.

Most Popular Cryptocurrencies:

• Best Bitcoin Trading Brokers
• Best Litecoin Trading Brokers
• Best Ethereum Trading Brokers
• Best EOS Trading Brokers
• Best Bitcoin Cash Trading Brokers

How to Choose a Broker for Crypto Trading:

• Popular Cryptos
• Best Crypto Brokers by Volume
• Broker Selection Criteria
• Other Factors 

Some of the more popular cryptos offered by brokers include:

Bitcoin

Bitcoin remains the largest crypto by market cap and was the first crypto with a genesis of 2008 and launched in the wake of the Global Financial Crisis.

Referred to as a true cryptocurrency or digital currency, Bitcoin is an alternative to fiat money.

As a digital currency, Bitcoin competes with other online payment platforms, offering lower transaction fees. More importantly, Bitcoin is decentralized unlike government-issued fiat money.

Ethereum

With a genesis data of 2013, Ethereum was launched in 2015. Ethereum was created to resolve the vulnerabilities of the internet. Unlike Bitcoin, Ethereum is not considered a digital currency.

Ethereum is best known for its smart contracts, which are encoded contracts uploaded onto Ethereum’s blockchain. This protects information, not only from hackers but also from theft or manipulation.

Litecoin

Litecoin was launched in 2011 and is considered digital currency. Coming a number of years after Bitcoin, Litecoin was created to address Bitcoin’s shortfalls.

As a result, transaction times on Litecoin’s decentralized platform are faster, making it a more attractive alternative to fiat money.

Litecoin was created to compete with other true cryptocurrencies, including Bitcoin. As with Bitcoin, Litecoin also removes intermediary control that is enjoyed by banks, central banks, and governments.

Ripple’s XRP

Ripple was released in 2012, the Ripple platform exists to support cross-border transactions. The Ripple team delivered a decentralized platform that significantly reduces transaction costs, whilst materially increasing transaction speeds.

Ripple’s XRP is used to transfer funds cross-border, via the Ripple decentralized platform.

It is important to note that Ripple’s XRP is not in competition with fiat money. Ripple’s XRP is a link between fiat currencies during cross border transactions.

Stellar’s Lumen

Launched in 2014, Stellar’s Lumen is a virtual currency.  The team developed the platform and Stellar’s Lumen to support the cross-asset transfer of value.

While this includes but is not limited to payments, Stellar’s Lumen is not an alternative to fiat money. Unlikely digital or true cryptocurrencies, Stellar’s Lumen is an intermediary currency.

Stellar’s Lumen essentially enables the Stellar decentralized platform to move money around the world. Users are also able to conduct transactions between different currencies quickly and securely.

Best Crypto 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 a solid track record.

Therefore, some of the key considerations in identifying an appropriate crypto 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 established in a regulated jurisdiction is advisable. Tighter regulations ensure appropriate measures to protect investors and their assets.

Once you have considered the most appropriate brokers for preferred cryptos and 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.

• 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 a 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 crypto 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 cryptos 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.