The brokers below represent the best Ripple Trading features
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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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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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eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk
FCA UK, ASIC, CySEC , FSA Seychelles, FINRA US, SIPC
1:30 (FCA UK), 1:30 (ASIC), 1:30 (CySEC ), 1:500 (FSA Seychelles), 1:50 (FINRA US), 1:50 (SIPC)
This brokerage offers a massive range of tradable assets through Forex, CFD, and share trading accounts. FP Markets supports the MT4, MT5, and IRESS platforms and offers leverage up to 500:1. You can trade 45 currency pairs with competitive spread or commission pricing.
FP Markets was founded in 2005 and is headquartered in Sydney, Australia. It is regulated by by the ASIC in Australia. Demo accounts are available. While it is suitable for beginners, education resources are limited.
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.
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.
Ripple is a new cryptocurrency with the symbol XRP. Ripple is the world’s only enterprise blockchain solution, designed to enable global payments from financial institutions using cryptocurrency. Ripple was designed to take care of the inefficiencies of today’s global payment systems.
In an era where there has been a lot of innovation and development of technology that has transformed the turnaround time of many tasks, the system of a wire transfer in banks has still remained largely unchanged from the pre-internet days. These days, you can send an email to someone from a smartphone wherever you are in the world and expect the data transfer to last only seconds, leading the other party to receive the email less than a minute later. However, it still takes days to wire money from part of the world to another. The main issues with wire transfers are the following:
Ripple was therefore built to solve these payment problems by connecting payment providers, banks, digital exchanges and corporate organizations using RippleNet, Ripple’s cryptocurrency network. The aim is to provide a seamless, frictionless experience when sending money across the world.
So what are supposed to be the key advantages that Ripple offers as an alternative payment solution?
Ripple is built on a more advanced blockchain technology than Bitcoin, and in August 2017, briefly became the 3rd most valuable cryptocurrency after Bitcoin and Ethereum. It presently lies in 3th place after the price took a little bit of a hit. Ripple (XRP) benefited from the price appreciation most of its peers experienced in the 1st and 2nd quarters of 2017. It is believed that increased adoption of XRP by financial institutions will boost its demand going forward.
In order to expand its user base not just for individual users but also to include institutional clients, Ripple announced a partnership with cryptocurrency exchange BitGo for the development of enterprise-grade wallets which will incorporate high-end security features to match the highly advanced requirements for institutional users. These enterprise grade wallets will provide a better and more secure platform for financial institutions to be able to offer cryptotokens for cross-border payments.
Many more exchanges are coming on stream to offer XRP on their networks. The enhanced user base from these expansions will create a dynamic in terms of supply and demand for XRP tokens. These supply-demand dynamics will then create price shifts that will make XRP a tradable instrument across exchanges and trading platforms. These changes have therefore marked a paradigm shift from the company’s initial core business, which was strictly on providing an alternative way for financial institutions to support cross-border payments.
What does this indicate? Interest in trading XRP has increased substantially from pre-2017 levels. The price changes which followed can be said to be as a result of the following factors:
With the increased interest in XRP exchange comes the opportunity to trade XRP as cryptocurrency CFDs. These Contracts-for-Difference assets enable traders to predict price differentials without having to hold the XRP tokens. Trading XRP as a CFD comes with some advantages.
XRP can be bought and sold online using the following means:
The currency on which transactions can be carried out across RippleNet is Ripple (XRP). Ripple can be mined and traded. It can also be bought from exchanges and resold at a higher price. The third marketplace for Ripple exists on forex platforms where XRP is listed as a CFD asset, usually in a pairing with the US Dollar.
To be able to buy or sell Ripple on cryptocurrency exchanges, you must have a wallet with a unique wallet address. The wallet is like your bank, and the wallet address like your bank account number; it is personal to you. Exchanges offer their clients free wallets to be able to conduct business. Majority of the exchanges offering XRP have a large South Korean base.
In order to buy XRP on an exchange, you have to purchase it using your fiat currencies or with digital payment solutions. A list of vendors who have XRP for sale is usually listed on each exchange. Each vendor has a different price and will accept various payment methods.
Exchanges usually have a list of verified sellers who will post how much they are selling XRP for the various fiat and digital currencies. This allows the buyer to choose from a list of prices and to select the price that will be favorable for the transaction.
XRP contracts can be traded as CFDs on several trading platforms. These platforms basically list the various contracts that feature XRP as a paired asset.
The list above shows the various pairings of the XRP asset, which provides various kinds of trading opportunities. These assets can all be traded with leverage.
If you are using a trading platform which supports the programming and use of EAs, then, by all means, you can use your EA to trade any of the XRP pairs. It is important to note that majority of these platforms are owned by market makers. So traders should observe the rules of using market maker platforms, one of which is that not many of them allow EAs or scalping techniques.
You need to have an acceptable payment method to enable you to trade with Ripple on an exchange or on a trading platform.
For exchanges, you can buy Ripple using the following methods:
A Ripple exchange is a marketplace where Ripple can be bought or sold in exchange for fiat currency, digital currencies or other cryptocurrencies. The strategy is to purchase at lower prices, hold for appreciation of price and resell for a profit.
Due to the much lower number of exchanges offering XRP, it can be a challenge selecting the best Ripple exchange for your business. There are several factors which must be considered. These are as follows:
When it comes to transaction options, here is what can be done.
The financial systems in Asia are better suited to work on Ripple exchanges. Those in North America are not because there are many regulatory red tapes.
A major advantage of using exchanges is that many of them now offer mobile apps that can be downloaded from the iOS Store or from the Google Play Store.
In conclusion, we present the best Ripple trading brokers for 2017. Even though there are traders who would want to trade solely on the exchanges, as well as others who would like to trade XRP CFDs exclusively, it is advocated to be active on both sides of the divide. This is because the knowledge gained from technical analysis of the XRP CFD asset on trading platforms can equally be used to great advantage on the exchanges.
In coming up with this list, we considered brokers and exchanges that could come up with the following:
FX Empire editorial team consists of professional analysts with a combined experience of over 45 years in the financial markets, spanning various fields including the equity, forex, commodities, futures and cryptocurrencies markets.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.