Cryptocurrency brokers: ranking of the top 10 best brokers for cryptocurrency trading in 2021

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The success of trading largely depends on the choice of a brokerage company. A cryptocurrency broker must be trusted by the community and have a clean reputation. Consider what his responsibilities are and how to choose the right company.

Here is a list of the best brokers for leveraged cryptocurrency trading. The use of leverage makes it possible to open short and long positions (for sale and purchase) for an amount exceeding the deposit. For example, using 10x leverage and a balance of 0.1 BTC, the trade size is 1 BTC. There is no physical delivery of the underlying instrument.

Best Cryptocurrency Brokers for 2021:

  1. Binance.
  2. OKEx.
  3. Currency.com.
  4. FTX.
  5. Bybit.
  6. Bitmex.
  7. EXMO.
  8. PrimeXBT.
  9. StormGain.
  10. CEX.io.

What is a cryptocurrency broker

A cryptocurrency broker is an intermediary who helps to make transactions with virtual currency and charges a commission for their services. Trading on the exchange requires a lot of knowledge and skills that a beginner does not have. The brokerage company is ready to accompany the trader at all stages of trading – to provide assistance in opening accounts, placing orders for sale or purchase, searching for suitable counterparties.

In addition, cryptocurrency brokers provide analytical and statistical information. The quality of this information significantly affects the success of a particular operation.

Brokers set the price at which the asset is traded. Quotes from well-known exchanges, liquidity providers, financial agencies can be used as a basis. However, brokers can use non-market quotes to collect traders’ stops. On cryptocurrency exchanges, traders themselves form supply and demand, fill the market order book with orders.

Ranking of the best top 10 for 2021

Rating of brokers trading top 10 cryptocurrencies + popular exchanges with margin trading:

Cryptocurrency brokerOverviewBroker websiteBeginning of workMax. LeverageCryptocurrenciesTerminalCommissionTrading time
Binancebinance.com20171:3about 150 cryptocurrenciesTradingView0,075–0,1 %24/7
Bitmexbitmex.com20141:100Bitcoin, Cardano, Bitcoin Cash, EOS, Ethereum, Litecoin, Tron, Ripple (perpetual contracts and futures)TradingViewmaker: -0.0250%taker: 0.0750% (for Bitcoin)24/7
Currencycurrency.com20181:20Bitcoin, Litecoin, EthereumTradingView0,2 %24/7
Bybitbybit.com20181:100perpetual contracts: BTC, ETH, XRP, EOS and othersTradingView0.004% for the maker; 0.006% for a taker24/7
BitForexbitforex.com2018up to x100BTC, ETH, LTC, EOS, TRXTradingViewFrom -0.025% (rebate) for the maker, from 0.075% for the taker24/7
Broker PrimeXBTprimexbt.com20181:100Bitcoin, Litecoin, Ethereum, Ripple, EOSown development0,05 %24/7
StormGainstormgain.com20191:150BTC, ETH, XRP, BCH, LTC, DSH, USDT and others (spot and futures)TradingViewdynamic cf. 0.08-0.15%24/7
Broker FinmaxFXfinmaxfx.com20171:10BITCOIN, Cardano, Dash, Decret, EOS, Ethereum Classic, Ethereum, Ark, Augur, Bancor, Lisk, Nem, Neo, Omni, Monero, Monacoin, Waves, Zcoin, Zcash, Tron, Stellar and others (40 cryptocurrencies in total)MT5, WEBdepends on the type of accountMonday (00.00 GTM) to Friday (23.59 GTM)
Broker Nord FXnordfx.com20081:1000Bitcoin, Monero, Bitcoin Gold, Litecoin, Zcash, Ethereum, OmiseGo, EOS, Bitcoin cash, Dash, Neo, Ripple, IotaMT4, MT5taker: 0.09%maker: -0.02%24/7
Broker Weltradeweltrade.com20061:20Ripple, Zcash, Dash, Bitcoin cash, Monero, Litecoin, Ethereum, BitcoinMT4, MT5, WEB0,5 %24/7
Broker Roboforexroboforex.com2009up to 1:50Bitcoin, Litecoin, Ethereum, Ripple, Bitcoin Cash, Dash, EOS, Bitcoin Gold, Ethereum Classic, NEO, QTUM, Monero, IOTA and others (26 crypto coins in total)MT4, MT5, R Trade0.5% (not less than 0.01 USD)24/7
Broker A-marketsamarkets.org20071:1000Bitcoin, Dash, Litecoin, Ethereum, Ethereum Classic, Ripple, Bitcoin Cash (7 cryptoassets)MT4, MT5, WEBdepends on the type of accountMonday (00.00 EET) to Friday (23.00 EET)

How cryptocurrency brokers differ from conventional cryptocurrency exchanges

The cryptocurrency exchange is a new phenomenon, the oldest of them are hardly a few years old, because the cryptocurrency appeared less than 10 years ago. As for brokers, most of them have a long history. For example, over the years NordFx has opened millions of accounts for users from all over the world – such a reputation guarantees its reliability and honesty. In addition, companies with extensive experience have gained considerable experience in protecting against hacker attacks.

Now about the differences between brokers and crypto exchanges in terms of trading functionality.

Trading terminal

The terminal in this context is a set of scripts that display information on the cryptocurrency market and allow the user to carry out transactions. There are similar scripts on every exchange, so any of them can be called a mini-terminal, however, among brokers, this concept includes:

  • Internet platforms that provide extensive functionality for trading currencies, which, if necessary, can connect to exchanges;
  • downloadable offline programs with similar functionality.

Roboforex trading platforms:

When choosing a cryptocurrency broker, it is important to consider that the terminal with which it works will not necessarily be supported by all exchanges. Therefore, attention should be paid to the issue of compatibility. The most popular program is MetaTrader 4, it is supported by almost all platforms.

The terminal integrates with the data on the connected resource and gets access to the client’s profile and publicly available information, such as cryptocurrency rates. Then the terminal starts working with this data – building charts, setting indicators.

Trading terminal MT4 NordFX:

Leverage

Leverage is the amount of money that a broker issues a trader to trade on the crypto market automatically and without any collateral. Credit 1: 100 means that the user can use in trading 100 times more than he has on the balance. This indicator is different for each broker; due to the high volatility of cryptocurrencies, many brokers are now reducing the leverage to 1: 3. Although there are exceptions – for example, NordFX, on the contrary, raised the limit to 1: 1000.

If the trades go well, the trader’s income will grow in proportion to the leverage, but the same scheme applies to losses. Therefore, two “camps” have formed among traders: some believe that high leverage in margin trading is a disadvantage, while others see it as an excellent opportunity to increase their income and reduce the level of risks.

The truth is that leverage is not a panacea, but simply an additional option that you don’t need to use at all. Risks are managed only by the trader himself, but not by the leverage.

CFD

Even a beginner understands how to make money in a growing market. But, working through a crypto broker, you can make a profit even in the event of a collapse. This is helped by such a tool as CFD – a contract for the difference in value. The method itself is not new and was invented in the UK 25 years ago. As originally conceived, the contracts were transactions for the purchase and sale of shares, for which, in order to avoid tax charges, no ownership rights were registered.

The exchange players immediately liked the method, as it made it possible to earn decent money in the shortest possible time. Therefore, gradually, they began to trade in goods, metals, currencies, and not just stocks in the same way. And not so long ago, the strategy came to the world of cryptocurrencies.

Let’s consider what is the essence. CFD is kind of like a bet. It is concluded with a cryptocurrency broker, as if arguing whether the bitcoin rate will fall or rise. The moment of the start is chosen independently, as well as the time of closing the transaction. It is possible to open a contract for a minute or for a year, as well as for any amount of funds.

Further, a clear example: let’s say a trader sees that bitcoin has reached the level of 20 thousand dollars, and is sure that this is the maximum, and then a fall will follow. Then you can open a CFD contract for the sale of cryptocurrency, and when the BTC rate drops to 10 thousand dollars, you will get a profit of 50% instead of a loss. And if leverage is also used (say, 1: 1000), then the profit will be equal to 50,000%.

Trading conditions

All cryptocurrency brokers offer different trading conditions. What exactly you need to pay attention to:

✅  Cryptocurrencies available for trading. Typically, the list includes coins from the top by market cap.

✅  The amount of leverage discussed above.

✅  Spread is the difference between the cost of buying and selling. The smaller the spread, the lower the risks. Small spread is convenient for trading within one market day.

✅  Swap is a fee that is taken from the broker in a situation where the transaction is moved to the next day. Usually negligible, around $ 0.4.

The recommended starting capital to start trading with a broker is $ 2000-3000. Although there are known cases of success and with a smaller amount.

  • For example, Roboforex trading conditions:
  • Weltrade trading conditions:

Deposit and withdrawal

There are brokers that allow these operations to be carried out only with cryptocurrencies; however, forex brokers generally support both crypto and fiat. However, their choice of digital coins is somewhat less.

Weltrade replenishment methods:

Top 16 cryptocurrency brokers rating

Here is the basic information on the popular cryptocurrency brokerage companies from the rating.

Binance

  • Available assets – 318 cryptocurrencies.
  • Leverage – 1: 125.
  • Withdrawal fee is individual for each currency.
  • Russian language support is available.
  • Terminals – own web terminal.

OKEx

  • Available assets – 269 cryptocurrencies.
  • Leverage – 1: 120.
  • Withdrawal fee is individual for each currency.
  • Russian language support is available.
  • Terminals – own web terminal.

Currency.com

  • Available assets – 44 cryptocurrencies.
  • Leverage is 1:50.
  • Withdrawal fee is individual for each currency.
  • Russian language support is available.
  • Terminals – own web terminal.

FTX

  • Available assets – 258 cryptocurrencies.
  • Leverage – 1: 110.
  • Withdrawal fee is individual for each currency.
  • Russian language support is available.
  • Terminals – own web terminal.

Bybit

  • Available assets – 22 cryptocurrency derivatives.
  • Leverage – 1: 100.
  • Withdrawal fee is individual for each currency.
  • Russian language support is available.
  • Terminals – own web terminal.

EXMO

  • Available assets – 52 cryptocurrencies.
  • Leverage – 1: 3.
  • Withdrawal fee is individual for each currency.
  • Russian language support is available.
  • Terminals – own web terminal.

PrimeXBT

  • Available assets – 13 cryptocurrency contracts.
  • Leverage – 1: 100.
  • Withdrawal fee is individual for each currency.
  • Russian language support is available.
  • Terminals – own web terminal.

StormGain

  • Available assets – 10 cryptocurrencies.
  • Leverage – 1: 150.
  • Withdrawal fee is individual for each currency.
  • Russian language support is available.
  • Terminals – own web terminal.

CEX.IO

  • Available assets – 80 cryptocurrencies.
  • Leverage – 1: 100.
  • Withdrawal fee is individual for each currency.
  • Russian language support is available.
  • Terminals – own web terminal.

BitMEX

  1. Official website: bitmex.com.
  2. There are more than 13 assets available.
  3. Leverage – 1: 100 for, itcoin.
  4. Withdrawal fee – no. Blockchain network commission only.
  5. Russian language support is available.
  6. Terminal – TradingView.

FinmaxFX

  • Available assets – more than 40 cryptocurrencies.
  • Leverage up to 1:10.
  • Withdrawal fee – 7% for bitcoin.
  • Russian language support is available.
  • Terminal – MetaTrader 5.

NordFx

  • Available assets – 13 cryptocurrencies.
  • Leverage – 1: 1000.
  • Withdrawal fee – no.
  • Russian language support is available.
  • Terminals – Metatrader 4, MetaTrader 4 Multi Terminal, MetaTrader5.

Weltrade

  • Available assets – 8 cryptocurrencies.
  • Leverage up to 1:20.
  • Withdrawal fee – from 1.9%.
  • Russian language support is available.
  • Terminals – MetaTrader4, MetaTrader5, WebPlatform.

RoboForex

  • Available assets – 26 cryptocurrencies.
  • Leverage up to 1:50.
  • Withdrawal fee – no.
  • Russian language support is available.
  • Terminals – Metatrader 4, MetaTrader 4 Multi Terminal, MetaTrader5, cTrader, R Trader, WebTrader.

Amarkets

  • Available assets – 7 cryptocurrencies.
  • Leverage – 1: 1000.
  • Withdrawal fee – no.
  • Russian language support is available.
  • Terminals – MetaTrader4, MetaTrader5, MetaTrader 4 Multi Terminal, Web-terminal.

Recommendations for choosing a cryptocurrency broker

You need to start choosing a brokerage company by studying various “black lists” and reviews on the Internet. There are no fewer scammers in the cryptocurrency sphere than in any other. Black brokers simply write off money from the user’s balance, giving nothing in return.

Let’s go through the main indicators that help make the right choice:

  1. Schedule. Not all cryptocurrency brokers allow you to work around the clock, sometimes operations are not available on weekends.
  2. The ability to open short positions. Cryptocurrencies are very volatile, their value can change by 50% or more per day, so this function is necessary.
  3. Commissions. What matters are fees for depositing and withdrawing funds, servicing leverage, and creating transactions.
  4. Insurance of transactions. Significantly increases the level of security and reduces risks.
  5. Forecasting. In the cryptosphere, forecasts are not very reliable. And if a broker claims that his predictions come true 95 or 100% of the time, then this is definitely a scammer.

Most likely, a good cryptocurrency broker can be found among the popular companies that are heard by many. They work with integrity and care for their positive reputation.

How to make money trading cryptocurrency with a broker

Having chosen a brokerage company, you need to register on its website. When registering, it is important to indicate truthful data – name, phone number, e-mail address. After creating an account, the manager will call you back, at the same time you can ask him all your questions.

Next, you need to download the terminal program from the crypto broker’s website. You need to download it from the page of a specific broker, otherwise you will not be able to log in with your username and password.

For a start, you can practice with a demo account. It fully simulates the real market situation, but the user will not lose anything in the event of a wrong decision.

Then you can replenish the broker’s account and start trading cryptocurrency for real. It is important to try to think carefully about each decision and follow the market news – the poke method is absolutely inappropriate here.

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