The recent rise in bitcoin price side by side other cryptocurrencies is beginning to attract a lot of attention. Because of this massive growth and increasing demand from an investor, many forex brokers add altcoins to their trading instruments in 2018. There two ways to trade cryptocurrency. These are from a cryptocurrency exchange or as a contract for difference, or CFD, through brokers.
In the table above, we have provided the review of top forex brokers that offer trade-in cryptocurrencies. Most of these brokers accept payment through the following altcoins: Bitcoin, Bitcoin Cash, Ethereum, Ripple, Dash and other cryptocurrencies.
Altcoins Forex Brokers 2018
While many cryptocurrency exchanges are not regulated, forex brokerages that offer altcoins trading are adequately regulated. Many of them are governed by reputable financial bodies like FCAfor brokers in the UK, CySEC in Cyprus’s and ASIC in Australia.
Due to too much regulation in the US, many forex brokers in the US have folded up or moved their offices. Presently, it is only three brokerages that operate in the US, and all them don’t offer altcoins trading. However, United States is among the few countries that have some form of regulation for altcoins exchanges like the NY BitLicense.
Overview of forex brokers that add altcoin trading to their trading instruments
- The best broker among the list is AvaTrade
- Best for providing multiple choices are Plus500, Etoro, AvaTrade
- The broker with best platform and tools is AvaTrade
- The best broker with the smallest minimum deposit is Etoro
- The broker that offers the best leverage is Plus500
- The broker that provides the best customer service is AvaTrade
- The forex broker that provides the best promotional services is AvaTrade.
Forex broker that Trade Bitcoin Futures
A reputable broker in the US that trade Bitcoin Futures is TradeStation. They provide low commissions, overnight margins for day trading, and additional interest.
AvaTrade is the overall best forex broker that adds altcoins to their trading instrument. The company’s trading platform takes care of different types of investors. They have extra trading tools like live quotes and charts. Some attractive features they offer are comparatively minimal account opening amount, competitive swap rates and numerous coin offerings.
Forex brokers and choices of the coin they offer
These are the digital currencies provided by brokers:
- Plus500 offer trading on the following cryptocurrencies: Bitcoin, Ethereum/Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, IOTA.
- Etoro trades on numerous coins including the following: Bitcoin, Dash, Ethereum Classic, Ethereum, Litecoin and Ripple
- The cryptocurrencies that are transacted on AvaTrade include Bitcoin, Bitcoin cash, Ethereum, Ethereum Classic, Ripple, Dash, Litecoin, Monero, NEO
Best Forex brokers and platform and tools they offer:
Some of the forex brokers on this list provide various types of a trading platform like desktop, online, web trading platforms.
- Plus500 provides the company’s trading platform in four versions. They offer downloadable, web-based, app trading platform and an Apple Watch trading Platform. Plus500 trading platform has charting software, permits trading in many markets from a single screen and offer real-time quotes.
- eToro provides both web and mobile trading platforms.
- AvaTrade offers a broad selection of platforms and as well an automated trading platform. The trading platforms they provide are AvaTradeAct, Metatrader 4, Mac Trading, Automated Trading, Web Trading and Mobile Trading.
The best minimum deposits offered by the brokerages are:
- Plus500 lowest minimum is 400 dollars
- Etoro lowest minimum is also 50 dollars
- AvaTrade provides 100 dollars minimum deposit
- UFX offers 100 dollars minimum deposit, and ETX Capital offer 100 dollars minimum deposit.
Etoro broker has the lowest minimum account opening amount.