Cryptocurrencies have boomed in popularity in the last five years. As public awareness of alternative currencies increases, so too does demand. There are now a number of online exchanges where you can buy and sell cryptocurrency for fiat currency or other altcoins. If you prefer not to own virtual currency, another option is to use online brokerages to trade in cryptocurrency instead.
In the wake of high demand, several online trading brokers have increased their offerings to include cryptocurrencies such as Bitcoin and Ethereum. It is now possible to trade cryptocurrency pairs such as ETH/USD and BTC/JPY. You can also trade cryptocurrency CFDs if you prefer.
In this review, we are going to look at seven cryptocurrency trading platforms. Use our analysis to help you make a more informed choice when you decide to branch out into cryptocurrency trading.
IG offers forex, CFD, and spread betting trading services. It also gives traders access to cryptocurrency CFDs. IG is regulated in the UK, New Zealand, and South Africa. IG offers MT4, as well as their own ProRealTime trading platform. IG has one of the largest product ranges in the industry, with more than 10,000 instruments supported.
Pros
Cons
easyMarkets is a well-known online forex broker, which offers access to 300+ markets. Forex traders can select many instruments to work with, including cryptocurrencies. easyMarkets is regulated in Australia, Europe, and several other countries, so it’s a reputable and trusted brand. Experienced crypto-traders like easyMarkets because the platform has several powerful features, including Freeze Rate and free guaranteed stop loss.
Pros
Cons
Plus500 was established in 2008. It soon achieved prominence as a leading online forex broker and today it is listed on the FTSE 250. Plus500 offers a number of CFD products, including cryptocurrency. The trading platform is easy to use and there is a mobile option for trading on-the-go. The site is regulated in Australia, the UK, and Cyprus.
Pros
Cons
Pepperstone is a global broker with access to many markets. It offers a full range of currency pairs, including cryptocurrencies. Pepperstone has two accounts: a standard account and a Razor account for experienced traders. Regular traders can qualify for the Pepperstone Active Trader program. This offers discounted commissions when trade lots exceed 200 per month.
Pros
Cons
eToro is a social investment broker. Social trading is a relatively new phenomenon. Traders can follow other traders on the platform and ‘copy’ their trades. This is useful for inexperienced traders who have yet to build a successful trading strategy. eToro has recently added cryptocurrencies to its marketplace. Seven virtual currencies are available, including Bitcoin, Litecoin, and Ethereum. eToro also offers cryptocurrency CFDs.
Pros
Cons
AvaTrade was established in 2006. It is a regulated broker providing currency trading to all clients, regardless of how much experience they have. AvaTrade offers a range of trading services, including bitcoin, ETFs, and commodities. The broker is licensed to operate in the BVI, South Africa, EU, Australia, and Japan. It has won several awards, including ‘Best Customer Service’.
Pros
Cons
InstaForex isn’t the best-known name in the currency trading marketplace, but it is trying to boost its brand by using well-known sports personalities as brand ambassadors. Visit the InstaForex website and you will be greeted with photos of Ales Loprais, Oleg Taktarov, and Daria Kasatkina. InstaForex is also the official partner of Dragon Racing and an official participant in the Dakar Rally. InstaForex has been operating since 2007. Platform users can trade cryptocurrencies, forex, commodities, stocks, and more.
Pros
Cons
Our editors have conducted an in-depth analysis of each of the platforms listed above. We tested their range of offerings, customer service responsiveness, and trading tools, and resources. When everything is taken into account, easyMarkets gets our vote. easyMarkets ticks the most boxes when it comes to customer service, as seen by its top rating on Trustpilot, as well as providing a good range of instruments and trading tools. easyMarkets also offers a demo account for new clients, so you can practice your crypto trading strategy before you risk your capital.
If you are interested in even more business-related articles and information from us here at Bit Rebels then we have a lot to choose from.
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