Advertiser disclaimer
Best Crypto brokers and trading platforms
Table of content

5 Best Crypto CFD Brokers 2024

Many individuals believe cryptocurrencies represent the financial future. When you’re ready to dive into the cryptocurrency market, one of the most important things you can do is find a trustworthy broker to help you trade or invest. Each type of crypto CFD broker has its own benefits, so it’s up to you to decide which one is best for your cryptocurrency needs.

Ready to enter the financial future? Read on to find out how to find the right cryptocurrency broker for you, and to review our shortlist.

Show more

Best Crypto Brokers and Trading Platforms

1
5.0
  • Minimum Deposit : $5
  • Fees : Very Competitive
  • Regulations : CySec / FSA / FSCA / VFSC
2
4.0
  • Minimum Deposit : $100
  • Fees : Very Competitive
  • Regulations : ASIC / CySEC
3
4.5
  • Minimum Deposit : $100
  • Fees : Competitive
  • Regulations : ASIC / CySEC / FSA / FSC / FSCA
4.5
  • Minimum Deposit : $0
  • Fees : Very Competitive
  • Regulations : FMA / FSA
4.5
  • Minimum Deposit : $100
  • Fees : Very Competitive
  • Regulations : ASIC / SCB
4.2
  • Minimum Deposit : $0
  • Fees : Very Competitive
  • Regulations : ASIC / BaFin / CMA / CySEC / DFSA / FCA / SCB

Best Crypto CFD Brokers Reviewed

If you want to invest or trade in cryptocurrency, it’s important to find a broker that can meet your specific needs. The following cryptocurrency exchanges were chosen with a wide range of trading and investment styles and strategies in mind.

FXGT

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.

  • Pros
  • Wide range of tradeable assets
  • Dynamic and competitive spreads and leverage
  • Suitable for traders of all experience levels
  • Multiple account types
  • Copy and social trading facilities in the crypto segment
  • Cons
  • It is not available in some countries, including the US

FP Markets

FP Markets is a well-known CFD broker that offers a platform for trading cryptocurrencies. This platform is geared toward experienced investors. Both the FP Markets Trading App’s high standard of excellence and the support team’s willingness to go above and beyond for customers is very impressive, making it one of the best crypto CFD brokers.

There is no limit to the number of practice trades you can make on FP Markets’ demo accounts, and the minimum deposit is only $100.

  • Pros
  • Well-established, regulated broker
  • Offers a great demo account
  • Ability to trade with leverage
  • No inactivity and withdrawal fees
  • Cons
  • Limited range of cryptocurrencies

AvaTrade

AvaTrade is a good choice for most investors because it is widely seen as a very reliable and reputable broker. Avatrade offers a wide range of assets that can be traded, reasonable trading fees, and four different ways to trade.

Also, AvaTrade’s award-winning mobile app, AvatradeGO, is highly regarded for how easy it is to use and how well it works with AvaSocial, the company’s highly regarded social trading platform. The broker also offers an AvaTrade demo account for the new traders to help them learn trading before investing their real money.

  • Pros
  • Trading in crypto/crypto and crypto/fiat pairs
  • Wide variety of research tools and useful signals
  • Advanced platforms for copy trading and social trading
  • Educational resources for all levels of traders
  • Cons
  • High inactivity fee

BlackBull Markets

BlackBull Markets has no minimum deposit requirement in its ECN Standard account, segregates client deposits from corporate funds, and offers negative balance protection. Crypto traders get ten highly liquid cryptocurrency CFDs, making BlackBull Markets one of the best crypto CFD brokers for scalping and high-frequency trading. Its excellent trading infrastructure, 1:5 leverage, and tight spreads create competitive crypto trading conditions.

Crypto traders can use MT4 or MT5 for algorithmic crypto trading or connect with 30M+ traders on TradingView if they prefer social trading. Its dedicated cryptocurrency educational section offers an excellent collection of educational content and crypto-related topics.

  • Pros
  • User-friendly platforms with excellent trade analysis tools
  • Spreads starting from 0.0 pips
  • Leverage of 1:2 for cryptocurrencies
  • Negative balance protection
  • Cons
  • Limited deposit options

Eightcap

Founded in 2009 in Australia, Eightcap is a major player in the global foreign exchange market and easily makes our list of the best crypto CFD brokers. Eightcap is regulated by at least one industry-leading regulatory body, the UK’s Financial Conduct Authority (FCA), as well as the Australian Securities and Investments Commission (ASIC). Eightcap is also regulated in Cyprus and The Bahamas and has a solid overall reputation for security.

You can get a free demo or apply for a real account in just a few minutes.

  • Pro: Creating an account is simple and fast.
  • Pro: Safe as it is overseen by the reputable ASIC.
  • Pro: No fees to deposit or withdraw.
  • Pro: Low foreign exchange fees
  • Con: No investor safety scheme is offered.
  • Pros
  • Smooth account opening and onboarding
  • Superfast trade execution
  • Good trader support with a dedicated account manager
  • Competitive pricing with tight spreads
  • Cons
  • Experience level filters can be added to ease discovery of relevant educational content

Pepperstone

Pepperstone complies with seven regulators, including the Securities Commission of The Bahamas and the Capital Markets Authority in Kenya, where it provides the best mix of regulation and competitive trading conditions. Pepperstone maintains an exceptional reputation, belonging to the best crypto CFD brokers. Crypto traders get maximum leverage of 1:2 and a 99.94% fill rate on 18 cryptocurrency CFDs and three crypto indices.

Capitalise AI, allowing crypto traders to automate strategies in a code-free environment, makes Pepperstone stand out among the best crypto CFD brokers. It also fully embraces algorithmic and copy trading via MT4, MT5, cTrader, and TradingView.

  • Pros
  • 24/7 trading in crypto CFDs
  • Leverage of 10:1 on all platforms
  • Award-winning customer support
  • Superior trading tools and insights
  • Cons
  • No negative balance protection for clients other than in the UK and EU

What are Crypto CFDs?

Contracts for differences, also known as CFDs, are complex financial instruments that make it possible to speculate on market movements. It’s common for them to be made available via digital platforms.

Because most CFD offerings are leveraged, it is necessary for investors to put up only a small portion of the total value of their portfolio to get started. But when price changes cause gains or losses, using leverage can make the size of either gain or loss bigger. The risk of rapid financial loss is thus increased.

When people trade cryptocurrency CFDs, they can bet on how the prices of cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) will move.

There is no central bank or government that issues or backs cryptocurrency, so its value is completely decentralized. There has been a lot of price fluctuation in the past year, and when combined with extensive leverage, it can lead to losses that far exceed the initial investment.

Main Types of Crypto CFDs

  • Bitcoin CFDs
  • Altcoin CFDs, including: Stablecoin CFDs and Cryptocurrency Token CFDs.

Over 14,000 different cryptocurrencies exist, but only some of them can be traded through contracts for difference. The majority of broker platforms support Bitcoin in addition to a small selection of alternative cryptocurrencies (altcoins), a category that encompasses coins with their own blockchain, such as Ethereum and Litecoin (LTC), stablecoins, such as Tether (USDT), and crypto tokens, such as Compound Coin (COMP).

Contracts for difference (CFDs) in Bitcoin involve betting on how the Bitcoin market price will change.

Even though they are like Bitcoin in some ways, they also have their own features, such as their own ways of verifying transactions. Most brokers now offer contract trading for major altcoins like Ethereum, Litecoin, Cardano (ADA), Stellar (XLM), Ripple (XRP), and more.

Crypto CFDs Pros and Cons

Cryptocurrency CFD trading is speculative. Therefore, you should fully understand the benefits and risks of cryptocurrency CFDs before investing.

Pros of Crypto CFDs:

  • Day traders like CFDs because they allow leveraged trading of more expensive assets.
  • CFDs’ high leverage makes even a small asset appreciation profitable.
  • High leverage can boost profits.
  • High-speed trading lets you adapt to market changes.
  • Technical tools from brokers enhance trading decisions.
  • The majority of CFD brokers are regulated.
  • CFD brokers insure depositors against security breaches.

Cons of Crypto CFDs:

  • Cryptocurrencies have less liquidity and payment options than fiat currencies.
  • If a trade goes wrong, you could lose money quickly.
  • CFDs require you to maintain a margin to avoid leveraged losses.
  • Since you don’t own the crypto or CFD, you can’t use it to buy.
  • Long-term HODL is risky due to fees and overnight charges.
  • Few cryptocurrencies can be traded via CFDs.

How to Trade Crypto CFDs?

Details can be confusing because the best crypto CFD brokers offer so many platforms and features. New CFD traders can test the market and trading tools with most brokers’ demo accounts.

CFD trading starts with five steps:

  1. Find out how CFDs work.
    Learn the market before trading. Understanding CFDs and how they differ from other trading methods can improve your results.
  1. Open an account and fund it.
    In minutes, you can open a CFD trading account.
    After verification, you can fund your account. Deposits can be made with credit, debit, or prepaid cards.
  1. Make a trading plan.
    Next, make a trading plan. Include your goals, risk tolerance, financial resources, markets, and strategies.
  1. Find a window of opportunity.
    Search for your first trade after creating an account and depositing funds.
  1. Start, monitor, and close your first position.
    Trades can be made after choosing a market. The trading platform lets you manage your open positions and close them with a click.

How to Choose the Best Crypto CFD Broker?

Choose a broker who is regulated by a major financial agency like the Financial Conduct Authority (FCA), the Securities and Exchange Commission (SEC), or the Australian Securities and Investments Commission (ASIC). In this way, you can rest assured that your broker is highly likely to be following all applicable laws and regulations and that your money is secure.

Another thing to think about is how many different assets the broker lets you trade. More assets are always preferable. As a result, you have more options when deciding which markets to trade in.

It’s also crucial to think about the broker’s fees. Some brokers only make money from the spread, while others also charge clients a commission. Make sure you look at the rates that various brokers offer before settling on one.

Finally, go with a broker whose interface is simple to navigate. The trading platform you choose should be intuitive and provide you with everything you need to make profitable trades.

What Are the Risks of Trading Crypto CFDs?

Cryptocurrency CFDs have extreme price swings due to the market’s nature. Their prices can fluctuate widely in response to news or shifts in investor sentiment. Recently, the market value of certain cryptocurrencies dropped by over 30% in just one day.

Some companies even provide leverage as high as 50:1. It can be very dangerous to trade such volatile instruments with high leverage.

Commissions, funding fees, and the spread (the difference in price between the bid and ask prices for a CFD position) are all examples of costs associated with trading CFDs. These fees can have a sizable effect on your bottom line and vary widely between brokers, so it’s important to factor them in – be careful to do this.

What Are the Benefits of Trading Crypto CFDs?

The world of cryptocurrency values safety above all else. As technology improves, it tends to make it harder to maintain personal privacy. However, in the realm of digital currency, both identities and transactions are heavily protected. That said, although exchanging cryptocurrency is usually very safe, cybercriminals may still be able to steal your information through hacking. The great thing about trading crypto CFDs compared to investing directly in cryptocurrencies is that as you don’t actually own the underlying crypto, it can’t be stolen from you.

One thing that makes cryptocurrencies unique is that they are decentralized. This means that they are not controlled by a single exchange or authority that is centrally located. Many people think this is one of the best things about using cryptocurrency and blockchain technology.

In addition, because cryptocurrencies bypass centralized entities like banks, their transaction fees are low.

Investing wisely in digital currencies can yield high returns. A long-term Bitcoin price chart will give you an idea of what those returns might look like. As the cryptosphere grows and changes, smart investors who buy the right digital currency now could make a lot of money in the future.

Conclusions

Although cryptocurrency evangelists have made some very exaggerated claims concerning the future value of cryptocurrencies, there is no doubt that the evidence of recent years suggests that cryptocurrency is here to stay as an exciting and often volatile new asset class, which can be exploited both long and short by traders and investors.

As direct ownership of cryptocurrencies can involve complicated custodial and security arrangements, many traders looking to exploit the relatively short-term but often dramatic price fluctuations in crypto turn to the simpler solution of trading CFDs which have been constructed to match the value of their underlying cryptos, mirroring their price movement, and providing a suitable vehicle for retail participation.

Cryptocurrencies will go through less exciting periods, but it is very likely that from time to time they are something that every trader or speculator will find it interesting to become involved in, and the easiest way to do that for non-US persons is to find a good CFD broker which covers the cryptocurrency sector in its offering of assets.

FAQ

  • What is CFD Trading?
    Contract for difference trading, or CFD trading, is a way to trade on trading platforms that lets investors bet on the price of an underlying asset like stocks, indices, commodities, foreign exchange, and more. In this type of trading, the underlying asset is not bought – only the changes in the price of the underlying asset are traded.
  • Is crypto CFD trading legit and safe?
    When working with a reputable CFD broker, trading in crypto CFDs is safe. However, you should be aware of the potential dangers involved, as this is a high-risk investment.
  • What crypto CFDs can I trade?
    You can usually trade a wide range of crypto CFDs depending on the broker, such as Bitcoin CFDs and altcoin CFDs. Altcoin CFDs can include stablecoin CFDs and cryptocurrency token CFDs.
  • How can I choose a good crypto CFD broker?
    If you’re looking for a crypto CFD broker, make sure they provide you with tools and extra services that help you achieve your goals, and make sure you select a broker that is overseen by a good regulatory organization. Match the broker you choose with your skills, experience, and capital, and be sure to investigate any hidden fees before depositing with a brokerage.
  • When is the best trading hour for crypto CFDs?
    The cryptocurrency market is open around the clock, but the best trading is during periods of high volume, typically between 9:30am and 10:30am New York time.
  • Will I need a wallet to begin trading crypto CFDs?
    No cryptocurrency exchange account or digital wallet is required to trade crypto CFDs. All you need to start trading CFDs is an account with a brokerage that offers crypto CFD trading.
author
About Marcel Deer
With a background in journalism and digital marketing, Marcel is a keen crypto enthusiast and investor. A regular contributor to several crypto publications, he believes that META-based projects will soar in the coming years and is super-bullish on MeritCircle and the increase in P2E gaming platforms. Marcel is also excited about AVAX and FTM as ETH-chain alternatives, and any projects with strong utility, transparency, experience, and community marketing.