Forex Education

Trading industry knowledge. Learn forex trading, investing in stocks, commodities.

  • Home
  • Choose a broker
  • Best Forex Brokers
  • Learn trading
  • Affiliate
  • Contact
  • About us
Home » Education » Finance education » Crypto Broker Comparison – Best Broker for Forex and Crypto

Crypto Broker Comparison – Best Broker for Forex and Crypto

by Fxigor

What is Cryptocurrency?

Cryptocurrency is a virtual currency. It is not a tangible entity but a digital asset but can be used as a medium of exchange. Any federal or central bank does not issue these currencies. These depend on cryptography, a technique that is used in various banking and other applications. Here, cryptography is responsible for ensuring the security and verification of every virtual denomination. 

Cryptocurrencies are coded using various links. Every individual coin is recorded in a virtual ledger. There is a computerized database that records the ownership of every single unit. The first cryptocurrency was Bitcoin which came into existence in 2009. It was meant to be mined using codes. It wasn’t meant to be bought by every ordinary man. Soon, more cryptocurrencies like Litecoin, Ripple, Ethereum, Dogecoin, and Coinye. The cryptocurrency trade was made legal in 2011. Thus, it is still a new form of trade that hasn’t reached its full potential.

BEST BROKERS REVIEWS
avatrade ad gold trading
Trillion Dollar Club - Invest & Trade Stocks, Crypto, Forex
trade oil ads
cfd stocks trade - ad
avatrade ad gold trading
avatrade ad gold trading

 

avatrade ad gold trading
Trillion Dollar Club - Invest & Trade Stocks, Crypto, Forex
trade oil ads
cfd stocks trade - ad
avatrade ad gold trading
avatrade ad gold trading

BEST BROKERS REVIEWS
free course banner

fxpro android ad
fxpro android ad
100% bonus hotforex
100% bonus hotforex
trade ETF
supercharged bonus hotforex ad
hfm zerpo spread ad
gold trading hotforex ad
crypto trading capital ad
trade oil ads
cfd stocks trade - ad
avatrade ad gold trading
exness stable spread ad
trade metals ad
trade crypto icm

Crypto Broker Comparison

When we make a crypto broker comparison, we see that we have world-famous forex and CFD trading brokers that offer crypto trading and several brokers that offer only crypto trading. World-famous forex brokers are our recommendation for all traders because you can deposit and withdrawal using bank wire, credit cards, and various payment services. There are no various deposit options for specialized crypto brokers, and we can see a lack of regulation.

The best broker for crypto is Hotforex

Hotforex Crypto Trading – Hotforex is the best crypto CFD broker (best forex crypto broker). At the same time, you can trade forex, equities, commodities, crypto trading. Because of excellent support and MT4 platform, fast deposit, and withdrawal, it is one of the top world brokers.

avatrade ad gold trading
Trillion Dollar Club - Invest & Trade Stocks, Crypto, Forex
trade oil ads
cfd stocks trade - ad
avatrade ad gold trading
avatrade ad gold trading

Now we can split brokers into two categories – forex brokers that offer crypto trading and specialized brokers for crypto trading.

BEST BROKERS REVIEWS

avatrade ad gold trading
Trillion Dollar Club - Invest & Trade Stocks, Crypto, Forex
trade oil ads
cfd stocks trade - ad
avatrade ad gold trading
avatrade ad gold trading

free course banner
fxpro android ad
fxpro android ad
100% bonus hotforex
100% bonus hotforex
trade ETF
supercharged bonus hotforex ad
hfm zerpo spread ad
gold trading hotforex ad
crypto trading capital ad
trade oil ads
cfd stocks trade - ad
avatrade ad gold trading
exness stable spread ad
trade metals ad
trade crypto icm

Below are crypto brokers that offer forex and stocks CFD trading as well:

Forex broker ReviewVisit

Min. trading lot size

Max. leverageMin. depositPip rebate RatingPromotions

Hotforex
Hotforex0.011:1000$10.498 HotForex 50% Bonus

Instaforex

Instaforex
0.00011:1000$101.690InstaForex

FxPro
FxPro0.011:500$1000.388 

Avatrade
Avatrade0.011:400$10.985 


Dukascopy
Dukascopy0.011:100$5000.5583 Dukascopy Bank SA

Exness Reivew

Exness

0.011:2000$100.1-280

Exness


XM.com
XM.com
0.011:888$5178 

Octafx reviewOctafx register0.011:400$50170

Below are Crypto Brokers that are specialized in crypto trading:
PrimeXBT offers a minimum deposit that is very low at just 0.001 BTC. Excellent broker, but all payments are in bitcoins.
Finance is another bitcoin crypto broker.

 

The Characteristics of the Cryptocurrencies and crypto trading brokers

Cryptocurrencies are not directly controlled by any bank or government institution. They come with their own set of characteristics that make them stand out from conventional currencies like dollars, pounds, and euros. Here are some of three unique features:

avatrade ad gold trading
Trillion Dollar Club - Invest & Trade Stocks, Crypto, Forex
trade oil ads
cfd stocks trade - ad
avatrade ad gold trading
avatrade ad gold trading

avatrade ad gold trading
Trillion Dollar Club - Invest & Trade Stocks, Crypto, Forex
trade oil ads
cfd stocks trade - ad
avatrade ad gold trading
avatrade ad gold trading

fxpro android ad
fxpro android ad
100% bonus hotforex
100% bonus hotforex
trade ETF
supercharged bonus hotforex ad
hfm zerpo spread ad
gold trading hotforex ad
crypto trading capital ad
trade oil ads
cfd stocks trade - ad
avatrade ad gold trading
exness stable spread ad
trade metals ad
trade crypto icm

1. A P2P Network

Earlier, when the bitcoin was created, coders had to mine them using various codes. Bitcoins couldn’t be bought; they had to be discovered. Such is not the case at the moment as cryptocurrencies are being commercialized. However, even today, it still follows the same P2P network. There is no third party involved. Governments or financial institutions don’t regulate the transactions made in cryptocurrencies. It is done directly between you and the recipient.

These transactions endorse a peer-to-peer network. You can send or receive a cryptocurrency using this network.

2. Irreversible Transactions

It is not uncommon for buyers and sellers to cheat on each other. When making any transaction using the conventional mode of payment, it can be easily reversed, and one party may be duped. For example, if you are a seller who has dispatched an order against the advance payment made by a buyer, you can still be holding the shorter end of the stick at the end of the trade. This can happen if the buyer is not genuine. They can cancel the transaction after receiving the notification that their order has been dispatched. In such a situation, they will end up keeping their money and your products, but you will be left with nothing. 

Transactions made in cryptocurrencies cannot be reversed. Once the payment terms have been settled and the transaction has been made, you are bound to receive your due. This also means that there is more transparency here.

avatrade ad gold trading
Trillion Dollar Club - Invest & Trade Stocks, Crypto, Forex
trade oil ads
cfd stocks trade - ad
avatrade ad gold trading
avatrade ad gold trading

fxpro android ad
fxpro android ad
100% bonus hotforex
100% bonus hotforex
trade ETF
supercharged bonus hotforex ad
hfm zerpo spread ad
gold trading hotforex ad
crypto trading capital ad
trade oil ads
cfd stocks trade - ad
avatrade ad gold trading
exness stable spread ad
trade metals ad
trade crypto icm

3. It is Decentralized

Cryptocurrency transactions can happen anywhere as they are not centralized. You are not required to pay any fee or charge for transferring the money. This is possible because the transactions are maintained the blockchain technology. 

Blockchain is a Bitcoin technology. It provides data related to the cryptocurrency in the form of lists or blocks that cryptographers can use. This recorded data is also known as the ledger. With every exchange of data or a new transaction, the information is added to the ledger in the form of a block. Thus, a blockchain of information is formed. 

These blockchains are very strong and highly encrypted. No one on this planet can hack these. This ensures that your data remains safe forever.

Trading Cryptocurrencies

Cryptocurrency trading is still a new and budding market. Many traders don’t have enough knowledge about it. It is not even completely legal in many countries as well. But, if you want to invest in it, we would suggest you first find a reliable broker. Without one, you might end up losing more than you had anticipated.

fxpro android ad
fxpro android ad
100% bonus hotforex
100% bonus hotforex
trade ETF
supercharged bonus hotforex ad
hfm zerpo spread ad
gold trading hotforex ad
crypto trading capital ad
trade oil ads
cfd stocks trade - ad
avatrade ad gold trading
exness stable spread ad
trade metals ad
trade crypto icm

There are not a not of brokers who offer cryptocurrency trading. Before we tell you more about finding an online broker, let us explain what cryptocurrency wallets are.

Cryptocurrency Wallets

Just like you use your physical wallet to keep money or your virtual wallets like PayPal to send and receive money, you can do the same with a cryptocurrency wallet. There are three types of cryptocurrency wallets. These are as follows:

Hardware Wallet – a hardware cryptocurrency wallet is stored online. This does not mean that you will get a physical wallet. It simply means that all the data will be made available offline. This makes a hardware wallet the most secure type of crypto wallet. Some of the examples are Keepkey, Ledger nano S., and Trezor.

Paper Wallet – when you take out physical prints of your public and private keys and store them conveniently, it is called a paper wallet. It is a popular cryptocurrency wallet but not secure enough.

fxpro android ad
fxpro android ad
100% bonus hotforex
100% bonus hotforex
trade ETF
supercharged bonus hotforex ad
hfm zerpo spread ad
gold trading hotforex ad
crypto trading capital ad
trade oil ads
cfd stocks trade - ad
avatrade ad gold trading
exness stable spread ad
trade metals ad
trade crypto icm

Software Wallet – a software wallet is considered the most convenient cryptocurrency wallet as it can be accessed from your mobile and computer. Some of the examples of this wallet are Jaxx, Electrum, and Exodus.

Cryptocurrency Exchange

A cryptocurrency exchange is just like your conventional trading. You can buy, sell, or trade these virtual coins with the assistance of a broker. In the cryptocurrency market, you have various options at your disposal. You can do crypto-to-crypto trading where there is no conversion to conventional money or trading with crossover currencies. You can trade from fiat to crypto and vice versa.

Bitcoin exchange or Binance exchange is regarded as the most famous exchange of cryptocurrencies. Here, you don’t need conventional money as you can directly trade crypto with crypto. On the other hand, LocalBitcoins offer over-the-counter trading of these first virtual coins. It is like eBay; you can post the currency for sale along with a price desired by you.

ICO and Token

The Initial Coin Offering or the ICO can be equated to fundraising to support a start-up. Underlying tokens are sold against Bitcoins or Ethereum to raise funds. The whole process is similar to an IPO, where company shares are sold to the traders. Traders become a part of the start-up at an early stage and make profits as the company succeeds. 

The core difference between ICO and IPO is that the former is decentralized while the latter is centralized. This means that everyone can participate in ICO irrespective of their nationality or location, while certain restrictions are on IPO.

Tokens are a kind of cryptocurrency as well but specific in nature. You can sometimes use them as loyalty points to get discounts. At times, it can be converted into bitcoins as well.

What is Cryptocurrency Mining

Like miners use their tools and equipment to find coal, precious metals, minerals, or what they are looking for, Bitcoin miners work similarly. They have to mine cryptocurrency using their tools – adequate hardware, computers, and the ability to solve mathematical problems. At the end of solving these problems, miners get their reward, which is cryptocurrency. 

fxpro android ad
fxpro android ad
100% bonus hotforex
100% bonus hotforex
trade ETF
supercharged bonus hotforex ad
hfm zerpo spread ad
gold trading hotforex ad
crypto trading capital ad
trade oil ads
cfd stocks trade - ad
avatrade ad gold trading
exness stable spread ad
trade metals ad
trade crypto icm

These mathematical problems are linked to the blocks. Once you have solved the problem, you get the information about the transaction contained in these blocks. These blocks then join the blockchain that we explained earlier. 

Mining cryptocurrency is a competition. Various miners attempt to solve these problems in the least amount of time to get the cryptocurrency before other miners. You can win or lose depending on your resources and mental abilities.

Crypto Broker Comparison

Crypto broker comparison is based on several things. Considering that this market is just 9 years old and very different from Forex, stock, and any other trading market, one must be vigilant while finding an online broker. Without a doubt, it is a volatile asset. Bitcoin has seen extreme price fluctuations in the past. 

Many veteran traders don’t even consider cryptocurrency a valuable asset. Though, we cannot neglect the fact that this may be because there is a lack of education. 

There are not a lot of established brokers who offer cryptocurrency trading. There are a few things that you must check before investing your money. Here is a checklist that you can use before settling for any cryptocurrency broker:

Q1. How long have they been in business? (especially crypto)

When you want to trade Forex or any other instrument, you must look for a broker who has been providing services for at least 2 years. When looking for a cryptocurrency broker, reach out to them to know how many years they have been trading the virtual currency. They can trick you by telling you their total years of experience. Be specific and find out their experience in dealing with cryptocurrency.

Q2. Which cryptocurrencies are they offering?

Several cryptocurrencies can be traded, Bitcoin being the most famous. But it is better to have options.

Q3. What is the size of their customer support?

Never underestimate the importance of customer support. Any broker that offers round-the-clock support in different languages will always have the edge over its competitors.

Q4. Are they regulated?

Regulated brokers are legit. They cannot manipulate market prices for personal gains or use your money in case of an emergency or bankruptcy. You can even challenge a regulated broker in case of any discrepancies. Since cryptocurrency is regarded as a volatile asset, you cannot afford to partner with an unregulated broker.

Q5. How fast are they in processing deposits and withdrawals? 

The ideal deposit and withdrawal should not exceed 3 days. Some brokers even offer instant withdrawal at an additional cost. Longer withdrawal time can be risky. So, check before depositing funds.

Q6. What are the additional charges?

Most established brokers won’t charge you for inactivity, withdrawals, and deposits, but it is not a universal practice. Ask your broker about their additional charges not to be blindsided later on.

Q7. Are they recognized globally?

As we have mentioned numerous times throughout the article, cryptocurrency is a volatile asset, and its trading market is not even a decade old. In such a situation, you cannot be too cautious. The best practice here would be to hire an online broker that already has a global presence and a reputation to maintain. Established brokers use better technology and constantly upgrade their skills. The chances that they will have more knowledge about this market are higher.

Q8. What is the minimum required deposit?

Every trader and investor must keep a minimum deposit with their broker while opening a trading account. This is a safety measure that brokers take. This deposit can be as low as $1 with no upper limit. Analyze your budget before you finalize a broker and open an account.

Conclusion

There is still a general lack of knowledge about cryptocurrency. As there is no physical proof of this asset, many consider it unpredictable, and it has proven to be so in the past. There is a lack of cryptocurrency brokers as well in the market. Since it is not a centralized currency, many countries like India, Algeria, Nepal, Bolivia, Pakistan, Morocco, and Vietnam have even banned it. However, this market is becoming steady slowly. We predict that it will take a little longer for cryptocurrency trading to turn into conventional trading. If you are a new trader or not experienced enough, we would advise you to invest in Forex, stock, CFDs, or other instruments. Irrespective of your experience, the truth remains that this is a precarious market, and you will need an expert by your side to navigate through it.

  • Author
  • Recent Posts
Fxigor
Fxigor
Trader at Leanta Capital
Igor has been a trader since 2007. Currently, Igor works for several prop trading companies.
He is an expert in financial niche, long-term trading, and weekly technical levels.

The primary field of Igor's research is the application of machine learning in algorithmic trading.

Education: Computer Engineering and Ph.D. in machine learning.

Igor regularly publishes trading-related videos on the Fxigor Youtube channel.

To contact Igor write on:
igor@forex.in.rs
Fxigor
Latest posts by Fxigor (see all)
  • What is Forex Trader?
  • General Characteristics of Precious Metals – Precious Metals Criteria
  • Is Titanium a Precious Metal?

Related posts:

  1. Broker API Comparison – Learn about API trading
  2. Low Slippage Forex Broker – Forex Slippage Comparison
  3. Crypto Fund Set Up
  4. How to Add Crypto to MT4? – Video and Screenshots
  5. How to Scalp Crypto? – Scalping Crypto
  6. List of Crypto Influencers
  7. AvaTrade former Avafx forex broker Review
  8. Robinhood Crypto vs. Coinbase
  9. Crypto Trading – 500 Cryptos
  10. How to choose Forex Broker ?
  11. What is the Best Portfolio Tracker for Crypto?

Filed Under: Finance education

Trade gold and silver. Visit the broker's page and start trading high liquidity spot metals - the most traded instruments in the world.

Trade Gold & Silver

Diversify your savings with a gold IRA.

Gold & silver portfolio-building assistance from product professionals.

VISIT GOLD IRA COMPANY If you want to trade stocks try: TRADE IDEAS

fxpro android ad
fxpro android ad
100% bonus hotforex
100% bonus hotforex
trade ETF
supercharged bonus hotforex ad
hfm zerpo spread ad
gold trading hotforex ad
crypto trading capital ad
trade oil ads
cfd stocks trade - ad
avatrade ad gold trading
exness stable spread ad
trade metals ad
trade crypto icm

Website categories

Main Forex Info

  • Forex Calendar 2022
  • Forex Holidays Calendar 2022 – Holidays Around the World
  • Non-Farm Payroll Dates 2023.
  • Fed Meeting Schedule 2023. Dates! – FOMC Dates
  • Key Economic Indicators For a Country
  • What is PAMM in Forex?
  • Stock Exchange Trading Hours

Main navigation:

  • Home
  • About us
  • The Best Forex Brokers of 2023 (Ranked & Reviewed)
  • Free Forex Account Without Deposit in Autumn of 2023.
  • Best Forex Affiliate Programs in 2023.
  • Best Forex Brokers by Monthly Traffic of 2023
  • Brokers That Accept PayPal Deposits
  • Forex brokers reviews
  • Investment
  • Education

Forex social network

  • RSS
  • Twitter
  • FxIgor Youtube Channel
  • Privacy Policy
  • Contact us

Spanish language

Spanish language website
Risk Warning: Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Trading such products is risky and you may lose all of your invested capital. Before deciding to trade, please ensure that you understand the risks involved, taking into account your investment objectives and level of experience.

Copyright Forex.in.rs 2007

Privacy Policy