TOP-10 Cryptocurrency Forex Brokers

March 7, 2019

One of the ways to use bitcoins to your profit can be Forex trading. The sharp rise in the price of bitcoin and other cryptocurrencies in 2017 led to the fact that many forex traders wanted to try their hand at trading bitcoin. Indeed, if there is a financial asset that demonstrates a decent return, why miss such an opportunity? As a rule, most traders open a trading deposit in dollars. However, some forex brokers provide an opportunity to open a deposit in bitcoins and some other cryptocurrencies. Like other currency pairs, Bitcoin at Forex is traded as part of a bitcoin / dollar currency pair, or in a pair with other cryptocurrencies. Trading cryptocurrencies is technically no different from trading conventional forex currency pairs. Similarly, deals for buying and selling are opened, stop loss and take profit orders are set. The key principles of technical analysis work in a bitcoin / dollar pair, you can build trend lines, support / resistance levels, technical analysis figures and candlestick patterns. For trading bitcoin on Forex, you can use the same technical indicators and trading advisors as for ordinary currency pairs. However, Bitcoin trading has a number of specific features: cryptocurrencies are traded 24 hours a day, 7 days a week. News has a longer impact on the course of cryptocurrency. For a bitcoin / dollar pair, a sufficiently large spread is set. This makes scalping impossible. For trading it is recommended to consider timeframes from H1 and older. For bitcoin, day division into trading sessions does not work. Bursts of activity in a pair of BTC / USD can occur at any time of the day. Due to the lack of liquidity, especially before the release of important news, in a pair of bitcoin / dollar gaps are possible. Also, when trading in cryptocurrencies, it is necessary to remember about high volatility, which is caused by low liquidity. Bearing all this in mind, we have listed for your convenience our TOP 10 Forex brokers that offer the most attractive conditions for cryptocurrency traders.


Fx Club

Fx Club is a major international forex broker which started its operations in 1997.  In 2017, the company began to offer cryptocurrency trading, in the wake of the general intensive growth of digital assets. The broker was one of the first in the industry to start entering cryptocurrencies in the list of its trading tools. Initially, the list of traded cryptocurrency was quite small, it included only Bitcoin and Litecoin and traded in two cryptocurrencies paired with the dollar and the euro. But now the list of cryptocurrencies offered for trading has grown very significantly and includes several dozen altcoins, including all the largest ones such as Monero, Iota, Cardano, Dash, Zcash, Ripple, Bitcoin Cash and many others. Moreover, now cryptocurrencies are being traded not only in pairs with fiat currencies, but also in pure cryptocurrency pairs. For trading in cryptocurrencies, the broker offers its customers the Libertex trading platform, which was recognized as the best trading application and best broker for working with cryptocurrencies in 2018 according to the Forex Awards. Libertex is suitable for all categories of traders who strive to effectively manage their capital, and cryptocurrency, including in the global market. The Libertex trading platform allows you to work from one window in different segments of the financial market - with currencies, metals, energy, stocks, cryptocurrencies, indices, ETFs and other goods. The simple and intuitive interface of the Libertex trading platform not only makes it easy to make transactions without thinking about such concepts as spreads, margins, lots, etc., but also has a powerful arsenal for technical analysis. The web version of the terminal and the version for iOs and Android allow you to trade on all types of fixed and mobile devices, without additional settings. Desktop version for Windows and MacOS allows you to install Libertex on a desktop computer.


HYCM

HYCM is truly the oldest investment company on the contemporary global financial markets. The broker has been operating since the distant 1977. For decades, the broker has offered traditional, or conservative, investment instruments, such as stocks, bonds, derivatives, and indices. But as with the development of the forex market, when the company did not stand aside, and also began to develop this line of business in the global financial market, and with the emergence of a cryptocurrency market, the company’s management decided to keep up with the times and offer its clients cryptocurrency trading. However, the list of cryptocurrencies offered for trading is small and has only five of them - Bitcoin, litecoin, ethereum, ripple and Babel. Remarkably, Babel (BAB) is until now a little-known and cheap cryptocurrency, which sharply went up in growth on the YoBit exchange in 2018. The idea of BabelCoin is to create a coin that evolves through the community, which may be why this altcoin was chosen as a tool, along with the largest and most famous. All five proposed cryptocurrencies are traded only in conjunction with the American dollar with a 1: 2 leverage. Low leverage is due to the high volatility of cryptocurrency assets, which are traded around the clock 7 days a week and the price of which is extremely subject to the news background.


HotForex

HotForex is a major international investment company based in Mauritus providing services as a forex broker. The company was established in 2007 and currently has been operating in the industry for more than twelve years. The key service of the broker is providing trading in fiat currency pairs in the OTC forex market. Broker trading is conducted on the MetaTrader4 and MetaTrader5 trading terminals, presented both in the desktop version and for mobile devices on the Android and IOS operating systems. The list of cryptocurrencies offered by the broker includes Bitcoin, Dash, Ethereum, Litecoin and Ripple. These cryptocurrencies are presented in pairs with both the US dollar and the euro. Other altcoins for trade are not currently offered, as well as pure cryptocurrency pairs. It is worth paying attention to the fact that the new orders execution for crypto assets tools is subject to company's risk management policies. Therefore, the opening of market and pending orders might encounter rejections temporarily. Besides, the accessibility for trading on contracts for difference on digital assets is subjected to the customers's appropriateness assessment status.


AvaTrade

AvaTrade is a forex broker operating in the industry since 2006. The company's activities are regulated by such major international financial institutions as MiFiD, CBI, FSA, ASIC, SFB, BVI and FSCL. The broker offers its clients trading at such terminals as Avatrader, MetaTrader 4 and Mirror Trader. Currently, AvaTrade offers traders the opportunity to trade the most popular cryptocurrencies such as Ethereum, Ripple, Litecoin and EOS, as well as Bitcoin Cash forks and Bitcoin Gold. At AvaTrade you can trade the most popular cryptocurrencies around the clock. In connection with the growing demand for cryptocurrencies in the last two years, they have become a well-known and popular asset. The essence of digital currencies is that with their help you can trade without the help of banks and other financial organizations. The advantages of trading cryptocurrencies with AvaTrade include a relatively low minimum deposit of $ 100, low interest on swaps, the ability to enter into transactions for sale and make a profit even when the cryptocurrency rate decreases. The most attractive advantage is the size of the leverage offered by a broker for trading cryptocurrencies - it is 20: 1 and is one of the highest in the industry. It is also worth noting the quotes supplied by the broker in real time with easy-to-understand charts, and the AvaTradeGO mobile application for finding profitable opportunities at any time of the day.


Fibo group

Forex broker Fibo group is a division of the investment group Financial Intermarket Brokerage Online Group. The company has been operating for more than twenty years, since 1998. The company is headquartered in Vienna, Austria. Financial services provided by the company are regulated by regulators such as FSC, CySEC and FCA. Technical support is available to customers in twelve languages. The broker offers its clients trading in the most common terminals MetaTrader4 and MetaTrader5, as well as cTrader. In addition, in fact, fiat currency pairs, the broker offers for trading and cryptocurrency. Nine cryptocurrencies are available for trading, including Bitcoin, Ethereum, Litecoin, Zcash, Dash and Monero. The leverage for cryptocurrency instruments is 1: 3. In addition to trading in cryptocurrencies, the broker offers replenishment of the trading account directly in the cryptocurrency, currently such as Bitcoin and Bitcoin Cash - when replenishing through the BITPAY payment system there is no commission. For trading in cryptocurrency instruments, the company offers customers financial analytics from its leading experts and the FxWirePro news feed. Additional advantages of a broker include low spreads and market execution.


OctaFX

OctaFX is a UK based forex broker, the company started operation in 2011. OctaFX finincial services are offered onder regulation of a major UK regulator Financial Conduct Authority. OctaFX provides Forex trading and CFD on cryptocurrencies to traders from over one hundred countries throughout the world. The trading with OctaFX is available from as low as 5$ deposit for fiat currencies and 50% bonus deposit is available regularly. One of the key advantages of the broker is the possibility of trading at the prices a trader sees with immediate execution. The minimum deposit for trading cryptocurrencies with the broker is 100$ which is quite low for crypto section of forex market. OctaFx cryptocurrency portfolio includes Bitcoin, Ethereum and Litecoin. Trading Cryptocurrencies is available on the MetaTrader4 and MetaTrader5 platforms. The leverage for trading cryptocurrencies offered to customers is 1:2. Low leverage is due to the fact that the cost of cryptocurrency depends mainly solely on supply and demand, and though they are a great way to diversify the asset portfolio they are a highly risky financial asset, besides virtual currencies weakly correlate with the real economy.


XM

XM.com is a trading name, belonging to Trading Point Holdings Ltd. together with Cyprus filial Trading Point of Financial Instruments Ltd and Australian Trading Point of Financial Instruments Pty Ltd.. XM has been providing services in the international financial market since 2009 and has licenses from major financial regulators such as CySEC, ASIC and FCA. Broker's customers have access to technical support and advice in 29 languages. The total amount of trading tools, belonging to seven different financial asset classes, offered by the broker to its clients exceeds a thousand, and among them, of course, there are also cryptocurrencies, which are an attractive and potentially highly profitable alternative to common forex. Like most brokers in the forex industry which offer cryptocurrency trading, XM only offers the major cryptocurrencies, such as Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple. Trade in these cryptocurrencies is offered only in a pair with the American dollar. With other fiat currencies such as euro or pound sterling, as well as pure cryptocurrency pairs trading is not provided. Cryptocurrency trading with a broker is carried out on the MetaTrder5 terminal. In terms of trading cryptocurrencies XM offers tight spreads, no hidden charges and no re-quotes.


easyMarkets

easyMarkets is an online Forex broker offering trading at over three hundred major financial markets to traders from more than 160 countries all over the world. easyMarkets has been operating since 2001, the broker's services are regulated by such major financial regulators as CySEC, MiFID and ASIC. easyMarkets offers cryptocurrency trading with some of the lowest spreads in the industry. The disadvantages of trading cryptocurency with easyMarkets include a small number of cryptocurrencies offered - only Bitcoin, Ethereum and Ripple are available for trading. But at the same time easyMarkets offers leverage, one of the highest for cryptocurrency assets, it is 1:50. Trading is carried out on the easyMarkets Platform, easyMarkets App and easyMarkets MT4 terminals. There is no necessity to create an electronic crypto wallet or exchange account To trade a cryptocurrency in easyMarkets. Traders are offered instant online trading with cryptocurrencies, without having to wait for buyers or sellers, as on a cryptocurrency exchange. Realizing that the cryptocurrency market is nowadays the most innovative and active, easyMarkets makes every effort to make its trading conditions for the cryptocurrency trade most attractive to customers.


XTB

XTB Limited was established in 2002 and is registered in London, United Kingdom. The company is FCA licensed. XTB offers its customers over one thousand trading instruments, including Indices, FX, Stocks, Commodities, ETF and cryptocurrencies. Cryptocurrency CFDs offered by XTB include Bitcoin, Dash, Litecoin, Ethereum, Ripple, Stellar, Monero, IOTA and a range of other altcoins. Trading cryptocurrencies is offered on xStation 5 trading platform with the most comprehensive charting package. XTB clients trading accounts are protected from the risk of capital loss as a result of hacker attacks. Broker offers convenient access to the cryptocurrency market through mobile applications. Cryptocurrency trading with XTB is conducted around the clock, seven days a week. The broker offers its customers a 365-day contract expiry, low transaction costs and high liquidity. Besides cryptocurrency pairs with euro and dollar, the broker offers purely cryptocurrency pairs, such as Bitcoin/Dash, EOS/Bitcoin, Bitcoin Cash/Bitcoin, EOS/Ethereum, Ethereum/Bitcoin and some more. XTB offers 30 days-free demo account to test cryptocurrency trading. xStation 5 trading platform is attractive for its highly trade transparency, live performance statistics and real-time market commentary.


eToro

eToro is one of the major currency trading companies operating on contemporary global financial markets. eToro was established in 2007, the broker’s head office is located in Limassol, Cyprus. eToro provides its services under such major financial regulators as NFA, MiFID, CySEC, ASIC, FCA and CFTC. eToro provides a variety of virtual currencies to trade, both fiat/crypto and crypto/crypto pairs. eToro offers cryptocurrency investments on the world's largest patented social trading platform - CopyTrading. That is, the company's customers can monitor experienced eToro traders or copy their positions automatically. It must be noted that due to sharp exchange rate fluctuations, cryptocurrency might not be suitable for some investors. Trading operations with cryptocurrencies are not controlled by the EU supervisory authorities. eToro offers its customers the possibility of fast depositionf and funds withdrawal, fast orded execution and an advantage of a free $100000 demo account to test a trading strategy a customer chooses. With the usage of the patented CopyTrading ™ technology a customer has the possibility to automatically copy portfolios of the most successful traders and discuss the effectiveness of cryptocurrency trading strategies with the best eToro traders.

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3 XRP 0.275 -5.23%
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5 Litecoin 72.100 -1.57%
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