Best Crypto Trading Brokers 2022

Bob Mason
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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

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BrokerOfficial SiteRegulationsMin DepositMax LeverageTrading PlatformsFoundation YearPublicly TradedTrading Desk TypeCurrenciesCommoditiesIndicesStocksCryptooffers promotions
Exness
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General Risk Warning: CFDs are leveraged products. Trading in CFDs carries a high level of risk thus may not be appropriate for all investors. The investment value can both increase and decrease and the investors may lose all their invested capital. Under no circumstances shall the Company have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs.

FCA, CySEC, FSCA, FSA(SC)

$10

1:30 (FCA), 1:30 (CySEC), 1:500 (FSCA), 1:500 (FSA(SC))

MT4, MT5

2008

Market Maker, No dealing desk

ActivTrades
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"All financial products traded on margin carry a high degree of risk to your capital. They are not suited to all investors, please ensure that you fully understand the risks involved, and seek independent advice if necessary. ActivTrades Corp is authorised and regulated by The Securities Commission of the Bahamas. ActivTrades Corp is an international business company registered in the Commonwealth of the Bahamas, registration number 199667 B. ActivTrades Corp is a subsidiary of ActivTrades PLC, authorised and regulated by the Financial Conduct Authority, registration number 434413. ActivTrades PLC is a company registered in England & Wales, registration number 05367727."

FCA, SCB

$1000

1:30 (FCA), 1:200 (SCB)

MT4, MT5, ActivTrader

2001

ECN, Market Maker, No dealing desk

BDSwiss
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This website is for general information purposes only and is operated by BDSwiss AG. BDSwiss AG is the BDSwiss Group’s Holding Company domiciled in Grienbachstrasse 11, 6300, Zug, Switzerland. BDSwiss AG does NOT offer any financial products or services.

CySEC, FSC, BaFin, FSA(SC)

$10

1:30 (CySEC), 1:500 (FSC), 1:30 (BaFin), 1:500 (FSA(SC))

MT5, Proprietary, WebTrader

2012

Market Maker, STP

Eightcap
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Margin trading involves a high level of risk, and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Eightcap, and seek independent advice if necessary. Forex and CFDs are highly leveraged products which mean both gains and losses are magnified. You should only trade in these products if you fully understand the risks involved and can afford losses without adversely affecting your lifestyle (including the risk of losing substantially more than your initial investment). A Product Disclosure Statement (PDS) and a Financial Services Guide (FSG) for our products are available to download from our Legal Documentation page. You must assess and consider them carefully before making any decision about using our products or services.

FCA, ASIC, CySEC, SCB

$100

1:30 (FCA), 1:30 (ASIC), 1:30 (CySEC), 1:500 (SCB)

MT4, MT5

2009

Market Maker, Dealing Desk

MultiBank Group
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By using this website and or its services, you agree that neither MultiBank Group nor any of its affiliates and service providers will be held responsible for the accuracy of any information available on this site. Although information on this site is provided in good faith and is believed by MultiBank Group or its affiliates to be accurate, there are no explicit or implicit warranties of accuracy or timeliness made by MultiBank Group or its affiliates and service providers regarding this information. Furthermore, in visiting this site and in opening an MultiBank Group or its affiliates Forex trading account you agree not to hold MultiBank Group or any of its affiliates and service providers liable for any decisions you may make based on the information you obtain on this website or websites we link to. It is recommended that you make your decisions only after you have reviewed information and collected opinions from several credible sources and have verified ALL facts you need to know about Forex trading from other independent sources. MultiBank Group and its web hosting providers and its affiliates shall in no event be liable for any damages and or loss resulting from interruption of website service or the inability to use our website. Unless stated otherwise, material on this site is copyright of MultiBank Group. MultibankFX is the trading name of Multibank FX International Corporation (BVI) Company No. 1377324.

ASIC, FMA, CNMV in Spain, BaFin, VFSC, CIMA

$50

1:30 (ASIC), 1:500 (FMA), 1:30 (CNMV in Spain), 1:30 (BaFin), 1:500 (VFSC), 1:250 (CIMA)

MT4, MT5

2005

ECN

IC Markets
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Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

ASIC, CySEC, FSA(SC)

$200

1:30 (ASIC), 1:30 (CySEC), 1:500 (FSA(SC))

MT4, MT5, cTrader

2007

ECN, No dealing desk

NAGA
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TRADE RESPONSIBLY: CFDs are complex instruments and come with a high risk o osing money rapidly due to leverage. 78.07% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing you money.

CySEC

$250

1:30 (CySEC)

MT4, MT5, Proprietary

2015

No dealing desk, STP, DMA

OCTAFX
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Forex margin trading involves substantial risks

SVGFSA

$50

1:500 (SVGFSA)

MT4, MT5

2011

ECN, STP

FP Markets
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DISCLAIMER: This material on this website is intended for illustrative purposes and general information only. It does not constitute financial advice nor does it take into account your investment objectives, financial situation or particular needs. Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from FP Markets. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Contracts for Difference (CFDs) are derivatives and can be risky; When trading CFDs you do not own or have any rights to the CFDs underlying assets. FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets is a group of companies which include, First Prudential Markets Ltd (registration number HE 372179), a company authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18, Registered Address: Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus. FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations.

ASIC, CySEC

$100

1:30 (ASIC), 1:30 (CySEC)

MT4, MT5, IRESS, WebTrader

2005

DMA, ECN, No dealing desk, STP

AvaTrade
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71% of retail investor accounts lose money when trading CFDs with this provider

ASIC, CySEC, FSCA, FSA(JP), FSC, BVI, CBI

$100

1:30 (ASIC), 1:30 (CySEC), 1:500 (FSCA), 1:25 (FSA(JP)), 1:3500 (FSC), 1:1000 (BVI), 1:30 (CBI)

MT4, MT5, Proprietary, AvaSocial, AvaTradeGo, AvaOptions, WebTrader

2006

Market Maker

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.

Here’s a list of The Best Crypto Trading Brokers

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

Exness

Exness

Regulated By:FCA, CySEC, FSCA, FSA(SC)

Foundation Year:2008

Headquarters:Cyprus

Min Deposit:$10

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General Risk Warning: CFDs are leveraged products. Trading in CFDs carries a high level of risk thus may not be appropriate for all investors. The investment value can both increase and decrease and the investors may lose all their invested capital. Under no circumstances shall the Company have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs.

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.

Pros: Cons:
  • Commission-free trading available.
  • 24/7 customer support in English/Chinese.
  • Impressive range of Forex pairs to trade on.
  • Offshore regulation.
  • Only a selection of US stocks available.

ActivTrades

ActivTrades

Regulated By:FCA, SCB

Foundation Year:2001

Headquarters:United Kingdom

Min Deposit:$1000

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"All financial products traded on margin carry a high degree of risk to your capital. They are not suited to all investors, please ensure that you fully understand the risks involved, and seek independent advice if necessary. ActivTrades Corp is authorised and regulated by The Securities Commission of the Bahamas. ActivTrades Corp is an international business company registered in the Commonwealth of the Bahamas, registration number 199667 B. ActivTrades Corp is a subsidiary of ActivTrades PLC, authorised and regulated by the Financial Conduct Authority, registration number 434413. ActivTrades PLC is a company registered in England & Wales, registration number 05367727."

Founded in 2001, ActivTrades is a leading forex and CFD broker based in London. ActivTrades provides access to trading in forex and CFDs on commodities, indices, and shares. Markets can be accessed via their proprietary ActivTrader platform and MetaTrader.

Pros: Cons:
  • Competitive spreads.
  • Great customer service.
  • User-friendly platform.
  • At every global entity, accounts are insured for up to $1 million.
  • Fast deposit and withdrawal.
  • Exclusive add-ons for MetaTrader.
  • High minimum account balance.
  • The range of tradable instruments is not as deep as CFD industry leaders.
  • Inactivity fee.

BDSwiss

BDSwiss

Regulated By:CySEC, FSC, BaFin, FSA(SC)

Foundation Year:2012

Headquarters:Cyprus

Min Deposit:$10

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This website is for general information purposes only and is operated by BDSwiss AG. BDSwiss AG is the BDSwiss Group’s Holding Company domiciled in Grienbachstrasse 11, 6300, Zug, Switzerland. BDSwiss AG does NOT offer any financial products or services.

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.

Pros: Cons:
  • Multiple regulations.
  • Commission-free trading available.
  • Access to raw spreads available.
  • Can trade on MetaTrader 4 and MetaTrader 5.
  • Best spread accounts require higher minimum deposits.

Eightcap

Eightcap

Regulated By:FCA, ASIC, CySEC, SCB

Foundation Year:2009

Headquarters:Australia

Min Deposit:$100

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Margin trading involves a high level of risk, and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Eightcap, and seek independent advice if necessary. Forex and CFDs are highly leveraged products which mean both gains and losses are magnified. You should only trade in these products if you fully understand the risks involved and can afford losses without adversely affecting your lifestyle (including the risk of losing substantially more than your initial investment). A Product Disclosure Statement (PDS) and a Financial Services Guide (FSG) for our products are available to download from our Legal Documentation page. You must assess and consider them carefully before making any decision about using our products or services.

Eightcap Pty Ltd was founded in 2009 in Australia. The broker is authorised and regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).

The broker offers clients the ability to trade on more than 300+ financial CFD instruments covering Forex, Indices, Commodities, Shares and Cryptocurrencies through the MetaTrader 4 and MetaTrader 5 trading platforms for Web (MT5 only), PC, MAC and Mobile.

Pros: Cons:
  • ASIC regulated.
  • Commission-free trading available with competitive spreads.
  • 200+ financial CFD instruments.
  • MetaTrader 4 and MetaTrader 5 available.
  • VFSC regulated.

MultiBank Group

MultiBank Group

Regulated By:ASIC, FMA, CNMV in Spain, BaFin, VFSC, CIMA

Foundation Year:2005

Headquarters:Hong Kong

Min Deposit:$50

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By using this website and or its services, you agree that neither MultiBank Group nor any of its affiliates and service providers will be held responsible for the accuracy of any information available on this site. Although information on this site is provided in good faith and is believed by MultiBank Group or its affiliates to be accurate, there are no explicit or implicit warranties of accuracy or timeliness made by MultiBank Group or its affiliates and service providers regarding this information. Furthermore, in visiting this site and in opening an MultiBank Group or its affiliates Forex trading account you agree not to hold MultiBank Group or any of its affiliates and service providers liable for any decisions you may make based on the information you obtain on this website or websites we link to. It is recommended that you make your decisions only after you have reviewed information and collected opinions from several credible sources and have verified ALL facts you need to know about Forex trading from other independent sources. MultiBank Group and its web hosting providers and its affiliates shall in no event be liable for any damages and or loss resulting from interruption of website service or the inability to use our website. Unless stated otherwise, material on this site is copyright of MultiBank Group. MultibankFX is the trading name of Multibank FX International Corporation (BVI) Company No. 1377324.

MultiBank Group (MultiBank) was founded in California, USA in 2005. It is regulated globally by the German Federal Financial Supervisory Authority (BaFin), Australian Securities and Investments Commission (ASIC), the Cayman Islands Monetary Authority (CIMA) and many others. The focus for this review is the services offered on the https://multibankfx.com website.

Clients have the ability to trade on more than 20,000+ markets covering Forex, Indices, Shares, Commodities and Cryptocurrencies all through popular trading platforms MetaTrader 4 and MetaTrader 5 which can be accessed on Windows, Mac, Web and Mobile platforms.

The broker offers clients three main account types called ECN Pro, MultiBank Pro and STANDARD as well as demo and Islamic trading accounts. Spreads are competitive and can be from zero with commissions on the ECN Pro account. The MultiBank Pro and STANDARD accounts are commission-free.

Pros: Cons:
  • Regulated across five continents.
  • 20,000+ markets to trade on.
  • MetaTrader 4 and MetaTrader 5 available.
  • Commission-free trading available.
  • ECN Trading accounts available.
  • Limited research or educational material

IC Markets

IC Markets

Regulated By:ASIC, CySEC, FSA(SC)

Foundation Year:2007

Headquarters:Australia

Min Deposit:$200

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Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

IC Markets was founded in Sydney, Australia, in 2007 and is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), as well as the Seychelles Financial Services Authority (FSA).

The broker offers three core trading accounts called Raw Spread (cTrader), Raw Spread (MetaTrader) and a Standard Account (MetaTrader). Spreads start from zero pips on the Raw Spread accounts with commission-payable. The Standard Account offers commission-free trading with spreads from just one pip. The broker also offers demo trading accounts and Islamic swap-free accounts.

Pros: Cons:
  • Raw spread accounts with institutional grade liquidity available.
  • Commission-free trading available.
  • MetaTrader and cTrader available on desktop, web and mobile.
  • Wide range of tradable products with 24/7 customer support.
  • Impressive library of educational material and videos.
  • Beginner traders may be overwhelmed by the choice of markets and platforms.

NAGA

NAGA

Regulated By:CySEC

Foundation Year:2015

Headquarters:Cyprus

Min Deposit:$250

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TRADE RESPONSIBLY: CFDs are complex instruments and come with a high risk o osing money rapidly due to leverage. 78.07% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing you money.

NAGA is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA). The broker offers clients the ability to access more than 950+ financial CFD instruments covering Forex, Indices, Commodities, Shares, Cryptocurrencies and ETFs through its WebTrader platform and the globally recognised MetaTrader 4 and MetaTrader 5 trading platforms for Windows and MAC.

NAGA is a fintech company founded in 2015 allowing users to access, store, trade and invest in financial markets, cryptocurrencies, and virtual goods. The company operates two entities authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) and is also listed on the Frankfurt Stock Exchange with the listing name N4G.

Pros: Cons:
  • CySEC and FCA regulated.
  • Commission-free trading is available with competitive spreads.
  • Great copy-trading features.
  • 950+ financial CFD instruments.
  • MT4/MT5 available.
  • Feature-rich web platform with NAGA Feed.
  • No 24/7 customer support.

OctaFX

OCTAFX

Regulated By:SVGFSA

Foundation Year:2011

Headquarters:Saint Vincent and the Grenadines

Min Deposit:$50

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Forex margin trading involves substantial risks

OctaFX is a Forex and CFD trading platform with a focus on low, competitively priced spreads. It supports MT4, MT5, and cTrader trading platforms. cTrader offers the lowest costs, but does require a bit more experience. Novice traders are best starting off at OctaFX using MetaTrader 4, which supports micro accounts.

Pros: Cons:
  • Low spread pricing
  • 3 different platforms and flexible pricing
  • Free Forex demo available
  • Just 28 currency pairs
  • Limited deposit options
  • Lost UK Financial Conduct Authority coverage in 2017

FP Markets

FP Markets

Regulated By:ASIC, CySEC

Foundation Year:2005

Headquarters:Australia

Min Deposit:$100

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DISCLAIMER: This material on this website is intended for illustrative purposes and general information only. It does not constitute financial advice nor does it take into account your investment objectives, financial situation or particular needs. Commission, interest, platform fees, dividends, variation margin and other fees and charges may apply to financial products or services available from FP Markets. The information in this website has been prepared without taking into account your personal objectives, financial situation or needs. You should consider the information in light of your objectives, financial situation and needs before making any decision about whether to acquire or dispose of any financial product. Contracts for Difference (CFDs) are derivatives and can be risky; When trading CFDs you do not own or have any rights to the CFDs underlying assets. FP Markets recommends that you seek independent advice from an appropriately qualified person before deciding to invest in or dispose of a derivative. A Product Disclosure Statement for each of the financial products available from FP Markets can be obtained either from this website or on request from our offices and should be considered before entering into transactions with us. First Prudential Markets Pty Ltd (ABN 16 112 600 281, AFS Licence No. 286354). FP Markets is a group of companies which include, First Prudential Markets Ltd (registration number HE 372179), a company authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC License number 371/18, Registered Address: Griva Digeni, 109, Aigeo Court, 2nd floor, 3101, Limassol, Cyprus. FP Markets does not accept applications from U.S, Japan or New Zealand residents or residents from any other country or jurisdiction where such distribution or use would be contrary to those local laws or regulations.

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.

Pros: Cons:
  • ASIC regulated.
  • ECN pricing and DMA trading available.
  • 10,000+ tradable financial instruments.
  • Wide range of trading platforms and trading tools available.
  • Excellent customer support and education tools.
  • The volume of choice of markets and accounts may be overwhelming for beginner traders.

AvaTrade

AvaTrade

Regulated By:ASIC, CySEC, FSCA, FSA(JP), FSC, BVI, CBI

Foundation Year:2006

Headquarters:Ireland

Min Deposit:$100

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71% of retail investor accounts lose money when trading CFDs with this provider

AvaTrade was founded in 2006 and is authorised and regulated across all six continents it operates including by the CBI, BVI FSC, ASIC, FSCA, FSA and ADGM. It is one of the oldest online forex and CFD brokers with a well-established reputation for customer support, competitive fees and spreads – all in addition to offering a large range of financial instruments, even including ETFs and FX options for those who like to diversify across assets.

Users can choose to open several different account types – Retail, Professional, Spread betting and Options. The differences are discussed in the account opening section below. Retail, professional accounts offer access to over 1,250+ financial instruments across the AvaTrade propriety web-based platform, MetaTrader 4 and MetaTrader 5. Additional platforms include DupliTrade, AvaTradeGo, AvaOptions and AvaSocial, all of which are discussed further down this review.

Pros: Cons:
  • Global regulation – CBI, BVI FSC, ASIC, FSCA, FSA and ADGM.
  • A wide selection of platforms for every type of trader including MT4/MT5.
  • Competitive spreads and fees.
  • Multilingual customer support.
  • Not available to residents in the USA and Iran.

How to Choose a Broker for Crypto Trading:

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.

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