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Best Cryptocurrency Trading Brokers

With the official release of Bitcoin, the first cryptocurrency ever, back in 2009, the world of financial opportunities for traders and investors of all levels has expanded immensely. At the beginning of 2010, it was the sole cryptocurrency with a value of just a few cents. Over the next couple of years, Bitcoin’s price saw a dramatic fluctuation and thousands of other crypto assets have sprung up as well.

Cryptocurrency is a type of online-based currency, uniquely characterized by its decentralized character. Transactions between two parties are carried out without the need of a bank institution or a third-party involvement and are recorded on a public digital ledger known as the blockchain.

Nowadays, many investors and traders seek avenues of cryptocurrency trading and the present publication focuses on its specifics, as well as a listing of ten leading Crypto Trading Brokers.

How Cryptocurrency Trading Works for Traders and Brokers

BTC TradingThe cryptocurrency market can be quite intimidating for novice and experienced traders alike due to the wide array of trading terms and notions, as well as the variety of processes involved. To help traders figure out the market more easily, we have divided the process into seven distinct steps. Next, we look into trading from the brokers’ perspective and focus on how operators function and generate their profits.

How Cryptocurrency Trading Works for Traders

Here are the steps that traders need to take to start dealing in the crypto investment world:

Trading cryptos using CFDs vs. Buying crypto via an exchange

Overall, there are two approaches to trading cryptocurrencies – speculating on their price fluctuation using Contracts for differences (CFDs) or buying the online-based assets, with expectations that their price will rise.

With the first approach, traders are speculating on price swings and do not own the underlying assets. Alternatively, traders can take ownership of the relevant digital asset, aiming to store it in a digital crypto wallet and eventually profit from it.

The way the crypto market works

The way the crypto market works is a bit different from the rest of the trading markets due to its decentralized character. Cryptocurrencies are largely volatile, meaning that their price can dramatically move both up and down. Substantial fluctuations in the value of crypto assets can be due to news, blockchain forks, and government intervention, among other factors.

Opening a trading account

Opening a trading account is probably the easiest step along the way. Traders can accomplish it in a matter of minutes, and all they need to provide is personal and contact information.

Verifying and funding the account

What follows next is verification of the newly-created account. This process usually takes up to 24 hours and is part of the mandatory requirements that regulated providers of trading services are obliged to comply with. Other than that, traders should also fund their accounts, using a convenient banking method.

Following a trading plan

In a hugely volatile market, such as the cryptocurrency one, traders should build and follow a sound trading plan. As attractive as volatile trading markets can be, they are equally challenging. Traders have access to various risk management tools, which may help to minimize losses to a great extent.

Choosing a trading platform

To help you choose a crypto trading platform, we have compiled a list of leading global operators. The majority of suppliers have incorporated the advanced and widely popular MetaTrader software, equipped with everything necessary for a seamless trading session.

Opening and closing a trading position

As a final step of the crypto trading process, traders are supposed to open, monitor, and close their positions. When trading in cryptocurrency CFDs, there is no need to set up a crypto wallet. No matter which cryptocurrency you have chosen to trade with (Bitcoin, Ethereum, Solana, or XRP, for example), you need to decide the size of your position and select between opening a long or short position.

How Cryptocurrency Trading Works for Brokers

Trading brokers offer cryptocurrency CFDs trading, which, as already mentioned, does not entail owning the relevant asset or storing it in a crypto wallet. In terms of cryptocurrency trading brokers and the way they function and derive profits from the services they deliver, we can look into the following trading terms:


From deposit and withdrawal fees to account maintenance and inactivity fees, there may be some additional non-trading expenses charged by operators. These should be carefully checked in advance.


While some trading brokers adopt a commission-oriented pricing policy, others rely on spreads to derive profits from the services they offer.


The spread is the difference between the Buy and Sell price of an asset, or the Bid and Ask price. The tighter the spread, the lower the cost. Much like the other financial instruments, the spread costs of the most frequently traded crypto pairs are lower compared to more rarely traded crypto assets.

Spreads are related to liquidity and supply and demand for a particular asset. The highest-liquidity crypto assets or the most widely traded ones tend to have the tightest spreads, provided there is not a substantial supply and demand imbalance.

Financing rates

Overnight fees, also known as financing rates, are charged when a trader holds a leveraged position for more than a single day. Since a leveraged position entails borrowing funds from the broker to trade, customers are supposed to pay interest.


In the context of financial markets and crypto trading, leverage refers to using borrowed funds to get greater market exposure. In other words, traders finance just a portion of their trades, and the rest is borrowed from the Trading Broker they have established an account with. Leverage enables traders to multiply their potential profits, but simultaneously magnifies risks, especially in the context of the highly volatile crypto markets.

Trading regulators

Financial regulatory authorities are appointed by governments or other bodies to monitor the operation and transparency of financial markets and the companies that are involved in financial activity. The main objective of these institutions is to ensure fair and safe trading conditions for customers, as well as prevention and investigation of fraud.

Top Ten Cryptocurrency Trading Brokers

choosing a brokerThe next section of the current publication is dedicated to a listing of 10 award-winning suppliers of trading services. Of all the trading assets they have included in their product offerings, we have concentrated on cryptocurrency trading, the related commissions, spreads, and leverage, as well as additional trading tools and features.

Related Topics


1. When should cryptocurrencies be traded?

Unlike the other financial markets, the cryptocurrency trading market is open 24/7 due to its decentralized character. Price fluctuations can occur at any time and this opens up substantially more trading opportunities, which, however, should be properly managed by using appropriate risk management tools.

2. What factors cause cryptocurrency price fluctuations?

Much like the rest of the trading markets, the crypto domain is governed by supply and demand. Various factors can affect supply and demand, including trending news, market sentiment, technological progress, and political and government interventions, among others.

3. What are the most popular types of cryptocurrencies?

Besides Bitcoin, many other digital assets are quickly gaining traction and offer great investment potential. Traders are interested in cryptos such as Ethereum, Ripple, and Litecoin, to mention a few.

4. What is leveraged cryptocurrency trading?

Trading cryptos with leverage enables traders to magnify their profits, but the potential for losses is also substantially amplified. Due to cryptocurrencies’ huge volatility, the influence of leverage can be intensified.

5. What is crypto day trading?

Day trading cryptos entails speculating on the price fluctuation of a particular crypto asset over a single day. In other words, traders open and close their trading positions within the same day and they are not held overnight.