Best Online Crypto Brokers in 2024
Digital currencies are becoming mainstream, with both new and seasoned investors alike clamoring to find the best online crypto brokers. While many traditional brokers have added cryptocurrencies to their offerings, the best cryptocurrency brokers will provide investors with all the tools and services they need to trade these digital assets effectively.
Finding the best cryptocurrency broker for your needs can be a challenge, but we have compiled a list of cryptocurrency brokers to help you get started.
Ready to start trading cryptocurrencies? Here are the top cryptocurrency brokers in 2024:
List of Cryptocurrency Brokers
Is Crypto Regulated?
Crypto regulations vary from country to country. In the United States, UK, Canada, and Australia, for example, regulations are still being developed and refined as the industry grows. In other areas such as China, Colombia, Egypt, and Russia, crypto is either considered illegal or heavily restricted.
So far, the only countries that have adopted cryptocurrencies as legal tender are El Salvador and the Central African Republic, which both accept Bitcoin as payment for goods and services. Experts suggest that other countries such as Panama, Ukraine, Cuba, and Paraguay may also follow suit, owing to the current political and economic conditions in these nations.
Crypto is legal in most countries around the world, although most governments are pushing for more regulation to control the market. The lack of regulation surrounding cryptocurrencies also means that investors need to be extra vigilant when choosing a broker. Investors should anyway always check the regulatory environment in their country before choosing a cryptocurrency broker.
What is a Cryptocurrency Broker?
Brokers are individuals or firms that function as intermediaries between people who want to exchange money for goods or services. In the context of cryptocurrency, brokers provide financial services to users interested in buying and/or selling cryptocurrencies.
Crypto brokers are great for beginners looking to purchase Bitcoin, Ethereum, or other digital currencies. Fiat money is exchanged for cryptocurrencies through broker platforms, and both buyers and sellers are protected from fraud by the broker.
What is the Difference Between a Cryptocurrency Broker and an Exchange?
Crypto exchanges provide a platform for users to trade cryptocurrencies with each other based on prices set by the market. Exchanges are better suited for traders with a bit more experience and knowledge, or those that want to buy or sell substantial amounts of cryptocurrency. In an exchange, the transaction is between the users as direct buyers and sellers, while in a broker, transactions are always between the broker and the user.
Top Cryptocurrency Brokers Reviewed
FXGT Broker, a standout in the realm of crypto social trading, provides an innovative and dynamic platform for both novice and seasoned traders. FXGT Broker offers an exceptional sentiment analysis tool, giving traders valuable insights into market trends and investor attitudes.
Additionally, FXGT Broker integrates seamlessly with popular trading forums, allowing users to connect with a community of over 20 million traders.
The platform’s 24/7 trading capability and diverse market access further enhance its appeal, making FXGT Broker a top choice among the best crypto social trading platforms.
AvaTrade is a leading global CFD broker. Having been around since 2006, AvaTrade is regulated by several tier 1 regulators, including the Central Bank of Ireland, making it one of the best and most regulated crypto brokers in the industry.
AvaTrade has a modest product portfolio, including CFDs on 18 different cryptocurrencies, covering all the majors. AvaTrade offers access to proprietary platforms such as AvaTrade WebTrader, AvaTradeGO, and the AvaOptions app, providing users with a smooth and secure experience.
AvaTrade also provides a wide range of resources, including market analysis, webinars, and tutorials. Account opening is also quick and easy, with a minimum deposit amount of $100. It offers several deposit and withdrawal options, all free of charge.
BlackBull Markets offers crypto traders 10 liquid cryptocurrency CFDs and the MT4/MT5 trading platforms, which support algorithmic trading. Traders also get 24/7 support, making this FinTech company headquartered in New Zealand one of the best crypto brokers with an expanding product and services portfolio. Seasoned traders benefit from maximum leverage of 1:5 with negative balance protection, while beginners get an educational section with custom-tailored cryptocurrency content.
A cutting-edge trading infrastructure and tier-1 liquidity ensure tight spreads, and the ECN Standard account has no minimum deposit requirement. Copy traders can use the embedded MT4/MT5 services or consider BlackBull Social.
One of the best crypto brokers in the industry, Eightcap is an Australia-based CFD broker. Eightcap has been around since 2009 and is regulated by reputable institutions such as ASIC.
Eightcap offers several crypto-based CFDs. The platform supports Bitcoin, Ethereum, Litecoin, and over 250 crypto derivatives, making it one of the biggest crypto brokers in terms of crypto offerings.
Deposits can be made via a bank card or e-wallet, providing users with a convenient way to fund their account. The broker offers a user-friendly web trading platform that is suitable for both beginners and experienced traders. The platform can also be accessed via mobile devices and provides access to MetaTrader 4 and 5.
Pepperstone ranks among the best crypto brokers, offering 18 cryptocurrency CFDs and 3 crypto indices with maximum leverage of 1:2 and a 99.94% fill rate. It complies with seven regulators, segregates client deposits from corporate funds, and offers negative balance protection. The availability of Capitalise AI, allowing algorithmic crypto trading in a code-free environment, makes it stand out among its competition.
Adding to the competitive Pepperstone advantage is the choice of trading platforms and copy trading providers, ensuring crypto traders can execute any strategy. Pepperstone also features award-winning support, has dedicated cryptocurrency educational content, and allows 24/7 crypto trading.
How to Choose a Cryptocurrency Broker
Here are factors to consider when picking a cryptocurrency broker:
- Regulation: Make sure that the broker you are considering is properly regulated by a reputable financial authority. This will ensure that they operate within the law and are subject to strict financial rules and regulations.
- Fees: Another key factor to consider is fees: high trading fees will eat into your profits. Compare fees before choosing a broker to ensure you are getting the best deal. Sometimes, higher trading fees may be worth it, if a broker is providing another valuable service you need to compensate for it.
- Ease of use: You do not want to be struggling to figure out how to place a trade when the markets are moving fast. So, be sure to evaluate the platform before committing to using it.
- Customer service: Good customer service is essential if you run into any problems while trading, especially if you are a beginner. Find platforms that offer 24/7 customer support. Real-time technical support can make an enormous difference when you are trying to trade cryptocurrencies.
Online Crypto Brokers Comparison
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- Is buying crypto legal?Yes, buying crypto is legal in most countries.
- What is the safest crypto broker?The safest crypto broker is the one that is regulated by a tier 1 regulatory body and abides by its rules.
- Do I need a broker to buy cryptocurrency?No, you do not need a broker to buy cryptocurrency. You can buy or sell directly or use an exchange, but using an exchange or broker is usually the most effective route.
- Do banks accept cryptocurrency?Some banks are beginning to accept cryptocurrency, but it is not yet a widespread practice.
- Where is the best place to buy cryptocurrency?The best place to buy cryptocurrency is from a reputable broker or exchange.
- Where do I start with cryptocurrency?
- Learn the basics of cryptocurrency.
- Find a reputable broker or exchange to buy and sell cryptocurrencies.
- Choose a wallet to store your cryptocurrencies.
- Start trading and investing in cryptocurrency.
- Should I invest in crypto as a beginner?If you are simply looking to make a quick profit, then investing in cryptocurrency may not be for you. However, if you are willing to take on more risk for the potential of higher rewards, then investing in cryptocurrency could be an excellent choice.
- How much should I invest in cryptocurrency as a beginner?When investing in cryptocurrency as a beginner, it is important to not invest more than you can afford to lose. Experts typically recommend not investing more than 10% of your total investment portfolio in cryptocurrency.
- What is the best cryptocurrency platform for beginners?The brokers we have listed in this guide are effective options for beginners, as they all offer good educational resources, customer support, and user-friendly platforms.
- Which broker has the most crypto?Within our listing, Eightcap has the largest crypto offering, including all major cryptos as well as over 250 crypto derivatives.
- Which crypto brokerage has the lowest fees?Banxso wins in the fees category with its zero-commission policy.