Bitcoin Brokers: Best Forex Brokers Trading Bitcoin (BTC)

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Forex brokers with bitcoin are a convenient option for those who are engaged in forex trading, but want to master a new trading asset without leaving their usual resources. The cryptocurrency is definitely in a trend at the moment, bitcoin is growing at a rapid pace and regularly updating its historical highs. The editorial staff of Btcnewsweb.com figured out through which brokers you can trade Bitcoin cryptocurrency (BTC) and what conditions each of them offers.

Read also: list of cryptocurrency brokers.

Classic cryptocurrency exchanges with margin trading

First, let’s consider an alternative to bitcoin brokers. Many cryptocurrency exchanges are in no way inferior to them, allowing for efficient trading with leverage. Examples of such exchanges:

  • Binance. The world’s leading crypto exchange provides many opportunities for trading bitcoin and other cryptocurrencies. Supports 910 trading pairs, makes it possible to trade with leverage up to 10x and futures with leverage up to 125x. The interest rate for margin trading is calculated in hours, but not less than one hour.
  • Currency.com. An exchange that fully complies with the legislation of the Republic of Belarus and the requirements of regulators. Supports 225 trading pairs, leverage up to 100x is available for cryptocurrencies. You can reduce the risks when trading using the take profit and table loss tools.
  • Bybit. Perpetual cryptocurrency derivatives exchange. There are two Bitcoin contracts (BTCUSD and BTCUSDT). Possible leverage level – up to 100x. The platform is among the leaders in futures trading, although it was launched only in 2018; positions for more than $ 1.5 billion are opened daily on it.
  • Bitmex. One of the oldest and most popular futures exchanges. Although it supports various contracts, it makes calculations only in bitcoin, deposit and withdrawal of funds is also possible only in BTC. Leverage up to 100x.
  • Stormgain. Futures and spot trading platform with support for 10 trading pairs and 30 contracts. You can trade with a fairly high leverage – up to 150x. There is also a demo account for risk-free trading as a training session.
  • PrimeXBT. Multifunctional trading platform with up to 1000x leverage, the ability to open long and short positions. Allows you to trade the BTC / USD perpetual contract. An important advantage of the exchange is the absence of requirements for account verification.
  • Bitforex. A highly demanded platform with high liquidity and support for 182 trading pairs. It is possible to trade perpetual contracts on BTC with leverage up to 100x. BitForex is characterized by a very high speed of work due to the use of innovative technologies in the development of the site.

Read Also: The Best Exchanges To Trade Cryptocurrency Futures.

The relevance of bitcoin forex brokers

With so many cryptocurrency exchanges, there is also a steady demand for Bitcoin-backed Forex brokers. Accordingly, more and more brokers are introducing such a service. Bitcoin today is often perceived as the main instrument of the future financial system. The range of its use is growing rapidly, news regularly appears that the government of a particular country is taking measures to regulate cryptocurrencies.

Although, if we compare the liquidity of cryptocurrency pairs with ordinary fiat ones, then it is much lower. However, there are a number of reasons why it is not a bad idea to open an account with a forex broker:

  • BTC is traded around the clock, even on weekends. While trading stocks, indices or fiat currencies is usually only on weekdays from 10 to 19.
  • If you are used to the functionality of forex brokers, then it will not be difficult for you to master bitcoin trading through them, and not go into the study of crypto exchanges.
  • BTC is an interesting trading tool in terms of fundamental and technical factors, working with it can open up new facets of asset management that you have not considered before.

The rise in the bitcoin rate has attracted new investors to the cryptosphere, who see it as a new tool for generating profitability – albeit risky, but very promising. However, there are also risks associated with high volatility – in a short time, BTC trading can make you rich or bankrupt if you do not approach trading carefully. Much also depends on the correct broker.

Read also: the best cryptocurrency exchanges with margin trading.

Best Bitcoin Brokers

The companies listed below have established themselves as caring for the interests of customers and offering adequate working conditions.

1. Broker RoboForex

Broker RoboForex is an official member of The Financial Commission, which specializes in resolving conflicts between its members and their clients. Has an IFSC Belize brokerage license and a Verify My Trade (VMT) order execution quality certificate. Eight types of assets, including cryptocurrencies, stocks, metals, etc. There is an affiliate program that gives up to 50% of the commissions of invitees.

Broker RoboForex
  • BTC pairs: BTCUSD, ETHBTC, LTCBTC.
  • Additional Features: Cryptocurrency CFDs
  • Trading terminals: MetaTrader 4, 5, cTrader, WebTrader
  • Minimum deposit: 10 USD / 10 EUR
  • Mobile app: yes

2. Broker Instaforex

Instaforex broker offers a separate platform for trading cryptocurrencies called IFXBIT (nevertheless, having opened an account on it, a trader has access to all other trading instruments). Anyone can access market news and analytical materials, flexible interface customization and other benefits within the platform. Many account protection mechanics are supported (2FA, SMS, authorization logs, etc.).

Broker Instaforex
  • BTC pairs: BTC to any available currency or cryptocurrency
  • Additional features: CFDs on cryptocurrencies, more than 30 tools for technical analysis
  • Trading terminals: own terminal
  • Minimum deposit: 10 USD
  • Mobile app: yes

3. Broker Exness

Broker Exness has been successfully operating in the Forex market for more than twelve years, occupying leading positions in many ratings. It features comfortable customer service – instant withdrawal of funds at any time of the day, low commissions, stable spreads even with high volatility. The downside is that the site is not Russified, and there is also no full-fledged Russian-language technical support.

Broker Exness
  • BTC pairs: BTCJPY, BTCKRW, BTCUSD
  • Additional features: CFDs on cryptocurrencies, segregated accounts, free VPS hosting
  • Trading terminals: MetaTrader 4, 5, web
  • Minimum deposit: 1 USD
  • Mobile app: yes

4. Broker Alpari

According to many, Alpari is the best bitcoin broker in the industry. The platform has been operating since 1998. In addition to trading functionality, it offers various analytical tools and training courses. In addition, he takes part in regulating and improving the reputation of the Forex market. Supports account replenishment using BitPay, as well as fiat – through many banks and payment systems.

Broker Alpari
  • BTC pairs: BTCUSD
  • Additional features: leverage up to 3000x, Autochartist support, PAMM accounts
  • Trading terminals: MetaTrader 4, 5, web
  • Minimum deposit: 100 USD
  • Mobile app: no

5. Broker Amarkets

Broker AMarkets has been providing clients with access to trading in various financial markets since 2007. Offers a wide range of financial instruments for online trading: cryptocurrencies, indices, stocks, metals, commodities, etc. It is possible to undergo free training in trading, webinars with professional traders are regularly held, beginners receive frequent bonuses.

Broker Amarkets
  • BTC pairs: BTCUSD
  • Additional features: STP and ECN orders, automatic withdrawal of funds, copy trading
  • Trading terminals: MetaTrader 4, 5
  • Minimum deposit: 100 USD
  • Mobile app: no

6. Broker Etoro

Broker eToroBroker eToro is a trading social network with millions of registered users and a large number of innovative trading and investment tools. Allows you to create a portfolio of cryptocurrencies, commodities, stocks, ETFs and more. Bitcoin has been on this platform since 2013 and can be traded freely 24 hours a day, 7 days a week.

Broker Etoro
  • BTC pairs: BTCUSD
  • Additional features: advanced charts and analysis tools, social trading functions, quick purchase of cryptocurrency from a card without commission
  • Trading terminals: own terminal
  • Minimum deposit: 200 USD
  • Mobile app: yes

7. Broker FxPro

Broker FxProGlobal forex broker FxPro is a regulated company that provides the opportunity to work with contracts for difference (CFD) on the following types of assets: cryptocurrencies, indices, futures, forex, stocks, metals, energy resources. In 2017, the resource was recognized as the most trusted Forex brand in the UK. About seven thousand orders are executed every second on FxPro.

Broker FxPro
  • BTC pairs: BTCUSD
  • Additional Features: Ultra-Low Execution Time, Free Trading Courses for Beginners
  • Trading terminals: MetaTrader 4, 5, cTrader, Web
  • Minimum deposit: 100 USD
  • Mobile app: yes

8. Broker ForexClub

Broker FXclub has been operating since 2007. At the moment, it does not register new accounts for residents of the Russian Federation, you can register through an account with Alfa-Forex LLC. It offers a wide selection of trading instruments for different types of assets and its own unique trading platform Libertex. Withdrawals are possible within one day. The company has also developed over 50 training courses.

Broker ForexClub
  • BTC pairs: BTCUSD
  • Additional features: leverage range from 1: 200 to 1: 600, analytics and detailed informational section
  • Trading terminals: MetaTrader 4, 5, Libertex
  • Minimum deposit: no technical minimum
  • Mobile app: no

9. Broker FXOpen

Bitcoin broker FXOpen has been offering services in the Forex market since 2005. Has offices all over the world. It was the first to provide clients with the ability to trade through the ECN communication network based on the MT4 terminal. One Click Trading L2 plugin allows you to make transactions in one click, making ECN trading more convenient and accurate.

Broker FXOpen
  • BTC pairs: BTCEUR, BTCRUB, BTCUSD, BTCJPY, BTCCNH, BTCGBP, as well as cryptocurrency pairs with ETH, ETC, EOS, XRP, etc.
  • Additional features: low commissions and a cashback program, a PAMM service for copying transactions of other traders, automated trading
  • Trading terminals: MetaTrader 4, 5, WebTrader
  • Minimum deposit: 1 USD
  • Mobile app: no

How to trade bitcoin on a broker’s platform

To trade bitcoin through a forex broker, you will need to create a special account. A broker is an organization that allows its users to open accounts, and then helps to manage them and is an intermediary in transactions.

Not all brokers currently provide the opportunity to trade cryptocurrencies with a really high quality, since this is still not their main field of activity. Therefore, you should choose an intermediary very carefully, and also do not ignore the classic crypto-exchanges, which are 100% geared towards crypto.

Profit is generated from fluctuations in BTC rates. At the same time, unlike traditional assets, bitcoin is traded around the clock, not excluding weekends. Although a number of traders still prefer not to trade on weekends.

How to choose a bitcoin broker

When choosing a good bitcoin forex broker, you should pay attention to the following criteria:

  • Safety. Duration of work, availability of licenses, reputation among users, deposit insurance measures, legal regulation.
  • Deposit and withdrawal. At the initial stages, it is not recommended to work with large amounts, and not all platforms support small deposits. The ways in which funds can be deposited or withdrawn are also important.
  • Trading conditions. Sizes of spreads, their fixed or floating rates, commissions.
  • Terms of execution of orders. Delays of more than one second are undesirable to avoid slippage.
  • Leverage. Significantly expands the opportunity for earning income, but also increases the risks of losses. Recommended for professionals only.
  • Additional features, bonuses and promotions. It is especially important for beginners at first, as an auxiliary measure in the development and learning process.
  • Technical support. In what language does she answer, how quickly and competently.

The most suitable broker is selected based on the listed factors.

Advantages and disadvantages of trading bitcoin through a broker

Pros:

✅  You transfer most of the responsibilities for asset management to the broker.

✅  The platforms provide a wide range of possible assets; you can trade both bitcoin and stocks or commodities at the same time.

✅  Brokers proven over the years provide a very high level of security, their activities are licensed and regulated at the official level.

✅  Almost all sites offer high leverage.

✅  Many brokers provide an opportunity to open a demo account in order to practice with the functionality without the risk of losing funds.

✅  Trade is available at night and on weekends.

✅  A large number of ways to deposit / withdraw.

Cons:

❌  There is often a significant difference in quotes between brokers and exchanges.

❌  You will have to pay a commission, which is higher than on a crypto exchange.

❌  The choice of cryptocurrencies from brokers is minimal.

Conclusion

Trading through forex brokers with Bitcoin has a sufficient number of pros and cons. If the advantages are still outweighed, and you decide to try this option, then be as careful as possible to the choice of proven sites. For example, in this article we have given examples of proven brokers that have been operating for 10, 15, 20 years and have proven themselves in the best possible way. There are a lot of scammers in any field, and in cryptocurrencies, on the wave of hype, there are now just a huge number of them.

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