In order to begin trading cryptocurrencies, there are a number of key considerations that need to be made well in advance.
Firstly, you will need to decide on the actual cryptos and pairings that you wish to trade or cryptos that you wish to invest in. You will also need to decide whether you wish to invest in actual cryptos or cryptos via derivative contracts.
This will shorten the number of brokers for consideration.
At this point, you will then need to prioritize what attributes of a crypto broker are of particular importance. These can include fees, regulations, security, and so on.
The brokers below represent the best EOS Trading Brokers.
|Broker||Official Site||Regulations||Min Deposit||Max Leverage||Trading Platforms||Foundation Year||Publicly Traded||Trading Desk Type||Currencies||Commodities||Indices||Stocks||Crypto||Offers Promotions|
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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 Seychelles
1:30 (ASIC), 1:30 (CySEC ), 1:500 (FSA Seychelles)
MT4, MT5, cTrader
ECN, No dealing desk
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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 , FSCA South Africa
1:30 (ASIC), 1:30 (CySEC ), 1:500 (FSCA South Africa)
MT4, MT5, cTrader, IRESS
DMA, ECN, No dealing desk, STP
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81% of retail CFD investors lose money
FCA UK, ASIC, CySEC , MiFID
1:-2 (FCA UK), 1:30 (ASIC), 1:30 (CySEC ), 1:30 (MiFID)
Market Maker, No dealing desk, STP
IC Markets was founded in Sydney, Australia in 2007 and is regulated by the Australian Securities and Investments Commission (ASIC), as well as the Seychelles Financial Services Authority (FSA). According to the broker’s website, they processed $646 billion worth of trading volume in April 2019 alone.
While the broker offers services and features designed for both beginner and professional traders, the company promote themselves as the ‘go to’ choice for high volume traders, scalpers and trading algos due to their New York Equinix NY4 data centre-processing over 500,000 trades per day.
FP Markets has become a well-established brand in the online trading industry for good reasons. The broker, founded in 2005, is headquartered in Australia and has other offices worldwide. It offers its clients an impressive array of over 800 instruments from various markets, excellent order execution conditions, generally low fees, and many other perks.
The broker’s subsidiary entities are licensed by some of the most stringent regulators in the industry, ensuring a very high degree of protection. FP Market supports the widely popular MetaTrader 4&5 and cTrader. Another advantage is the offering of Virtual Private Server (VPS) hosting, which enhances the platform’s overall performance.
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.
EOS is a virtual cryptocurrency and blockchain created to address scalability issues faced across other blockchains. In particular, the focus is on addressing transaction fees and speeds.
With a genesis date of 2017, EOS became active back in mid-2018, EOS has become a mainstay top 20 crypto by market cap. When considering the scalability issues faced by the likes of Bitcoin, it is unsurprising that EOS has enjoyed a widening audience.
As is the case with the investing and trading of any asset class, it is important that you choose a broker that has adequate liquidity and presence.
This comes in a number of forms but the most important would include:
Once you have considered the most appropriate brokers for EOS/USDT and EOS/USD pairs, we then consider other key attributes of a broker.
While some preferred attributes will vary amongst traders, a number should be common amongst all traders. These must include:
Simplicity: For more novice traders, signing up with a more technical broker will have its pitfalls. Ensure that you trial demo accounts before making any commitments.
Platform: Platforms on offer should 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 avoid brokers that don’t support 24-7 trading.
Indicators: While the vast majority of brokers offer advanced charts with an array of indicators to support technical analysis, not all offer this. For more advanced traders, this will likely form part of the decision making process.
Risk Management: With crypto market volatility, the availability of guaranteed stop loss and take profit will be a must for many. There are a number of brokers that do not offer this.
Trader Resource Offerings: Brokers should provide their client base with:
Ultimately, it is important to identify a priority list of “must-haves” before selecting a crypto broker.
Away from the basic broker offerings, traders will also need to decide whether to trade actual cryptos or crypto derivatives. Each has its own advantages and disadvantages.
For those looking to trade EOS through CFDs and other derivative products, the following offer EOS 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 where you are able to safely store any EOS coins that you purchase. Brokers may offer custodial services, so this does come at your own risk should the broker provide no guarantees. If trading via derivatives contracts, you would not require crypto wallet storage.
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.
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