| Updated: November 5, 2025Our team of expert traders tested several regulated and trustworthy Dogecoin trading brokers and compiled a top list featuring the best among them. Each Dogecoin broker received a quality score based on several factors, including Trustpilot rating, regulation, fees and commissions, available trading platforms, customer service and more.
Plus500 USThis content applies only to Plus500 US and clients from the United States. Trading futures involves the risk of loss.- eToro61% of retail investor accounts lose money
- Fusion Markets74-89% of retail's CFD accounts lose money
- FP Markets73.85% of retail investor accounts lose money
- Global Prime74-89% of retail CFD accounts lose money
- Pepperstone75.5% of retail investor accounts lose money
Top ten DOGE trading brokers
Since its inception, Dogecoin has been making waves in the cryptocurrency investment world, attracting a great deal of media attention and building a strong community of followers. This section is dedicated to ten leading trading brokers that have added Dogecoin to their crypto investment portfolios, and we examine various aspects of their services.
In addition to minimum deposit requirements, fees, commissions, spreads and leverage, we also consider other factors such as regulation, accepted deposit methods, portfolio diversity, trading platforms, mobile trading options and more.
TRADE NOWREAD REVIEWPlatformscTrader, DupliTrade, Fusion+ Copy Trading, MetaFX, MetaTrader 4, MetaTrader 5, TradingViewMin Deposit$0Fees- No deposit and withdrawal fees
- No account inactivity fees
Deposit Methods
CommissionsStart from $2.25 per lot commissionSpreadEUR/USD: AVG 0.93 pips, GBP/USD: AVG 1 pips, USDJPY: AVG 1.7 pipsWithdrawal Methods Leverage EU1:2Leverage non-EU1:500 (ASIC | Pro Account), 1:30 (ASIC | Retail Account), 1:500 (VFSC | Retail Account)InstrumentsCommodities CFDs, Crypto CFDs, Forex CFDs, Indices CFDs, Metals CFDs, Stock CFDs* All financial products involve risk and you should ensure you understand the risk involved as certain financial products may not be suitable for everyone. Trading in margin foreign exchange and derivatives carries a high level of risk and you may incur a loss that is far greater than the amount you invested.Established in 2017 in Melbourne, Fusion Markets is a popular online trading destination primarily serving the needs of the Australian market. As the company continues to expand, more offices are expected to open around the world.
There are no minimum deposit requirements, which makes the platform particularly suitable for novice traders. This broker is dedicated to offering some of the lowest trading costs in the industry. Fee-free account-funding methods make it even more appealing to traders of all levels.
Regulated by the Australian Securities and Investments Commission, the company offers complete transparency and trustworthiness. Customer funds are held securely in segregated accounts.
With more than 250 financial instruments, including CFDs on forex, shares, indices, and cryptocurrencies, traders of all levels can find markets that perfectly suit their trading needs.
At Fusion Markets, those interested in cryptocurrency trading can diversify their portfolios thanks to the wide range of tradable crypto assets. Available crypto pairs include Dogecoin, with average spreads of 0.001. Fusion Markets relies on the industry-standard MetaTrader 4 and MetaTrader 5 platforms.
Automated trading is available, along with standard stop-loss functionality. Copy trading is also available to Fusion Markets’ customers.
- TRADE NOWREAD REVIEWRegulatorsCySEC (Cyprus, # 371/18), FSAS (Seychelles, # SD130), FSCA (South Africa, # 50926), SCB (Bahamas), ASIC (Australia, # 286354), FSCM (Mauritius, # GB21026264)PlatformscTrader, IRESS, MetaTrader 4, MetaTrader 5, TradingView2. FP MarketsMin Deposit$50 (AU$100)FeesNo deposit and withdrawal feesDeposit Methods CommissionsNo commission for Standard accounts and $3 per side for Raw accountsSpreadEUR/USD: AVG 1.2 pips, GBP/USD: AVG 1.4 pips, USDJPY: AVG 1.5 pipsWithdrawal Methods Leverage EU1:500 (CySEC | Pro Account), 1:30 (CySEC | Retail Account)Leverage non-EU1:30 (ASIC | Retail Account), 1:500 (FSAS | Retail Account)InstrumentsCommodities CFDs, Crypto CFDs, Energy CFDs, Forex CFDs, Indices CFDs, Metals CFDs, Stock CFDs* CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.34% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FP Markets is yet another crypto-friendly trading platform that targets the Australian trading market. As a leading trading platform, FP Markets ensures that its services are in line with the regulations of the Australian Securities and Investments Commission. The broker accepts registrants from other countries as well, and its international operations comply with the requirements of the Cyprus Securities and Exchange Commission.
Since it began operating in 2005, the platform has amassed a diverse trading portfolio that includes numerous forex pairs, CFDs, indices, and commodities. With the rise of cryptocurrencies, the broker has added them to its portfolio.
FP Markets has managed to create an impeccable environment by delivering exceptionally competitive spreads, fast execution times, and a diverse range of financial instruments. Traders can choose between the popular MetaTrader 4 and its updated version, MetaTrader 5. WebTrader is also available.
Trading on both rising and falling prices is possible at FP Markets. Dogecoin, a highly traded crypto asset, has found its place in FP Markets’ portfolio. The average spread for Dogecoin trading stands at 0.0020. As is typical for the highly volatile crypto trading markets, the maximum allowable leverage has been set at 1:2. Other frequently traded cryptos include Bitcoin, Litecoin, Ripple, and Ethereum, to mention a few.
- TRADE NOWREAD REVIEWRegulatorsCONSOB (Italy, # 211), FCA (United Kingdom, # 434413), SCB (Bahamas, # 199667 B), CMVM (Portugal, # 433), FSCM (Mauritius, # GB24203277), CVM (Brazil, # 43050.917/0001-03)PlatformsMetaTrader 4, MetaTrader 5, Proprietary Web, TradingView3. ActivTradesMin Deposit$0Fees
- 0.5% on deposits (EU/EEA cards)
- 1.5% on deposits (non EU/EEA cards)
- $12.50 for bank transfer withdrawals in USD
- £9 for bank transfers in GBP (SCB and FSC entities only)
- A $10 inactivity fee after 50 weeks
Deposit Methods CommissionsNone on crypto CFDsSpreadEUR/USD: AVG 0.5 pips, GBP/USD: AVG 0.8 pips, USDJPY: AVG 0.5 pipsWithdrawal Methods Leverage EU1:2 (1:20 for Pro accounts)Leverage non-EU1:400 (CMVM | Pro Account), 1:30 (CMVM | Retail Account), 1:1000 (FSC), 1:200 (SCB)InstrumentsBonds CFDs, Commodities CFDs, Crypto CFDs, ETF CFDs, Forex CFDs, Indices CFDs, Share CFDsCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.Crypto traders seeking fair pricing, tight spreads, and fast order execution can head to ActivTrades to open a live account with this reputable broker. Backed by extensive experience in online trading, ActivTrades offers clients more than 1,000 CFD instruments, with cryptocurrencies among the markets available for speculation. Because you are not trading actual crypto coins, you can take both long and short positions on the price of the underlying crypto asset and benefit from market movements in either direction.
Among its 15 supported crypto coins, ActivTrades includes Dogecoin, which is traded against the U.S. dollar. For this pair, the minimum order size is 1 lot, while the maximum is capped at 30,000 lots. You can trade the DOGE/USD pair with a very tight spread and zero commission applied to your order. The target spread for this symbol is 0.00200 points, with the actual spread typically fluctuating around that value.
It should be noted that DOGE/USD, along with other crypto CFD instruments, is not available to retail customers registered with the broker’s FCA-regulated entity. However, Pro account holders in the UK can engage in crypto trading and even increase their positions with leverage of up to 1:20. Retail customers in the EU region can also use leverage on their crypto trades, with a cap of 1:2. The SCB- and FSC-regulated entities of ActivTrades have set the leverage limit for Dogecoin CFD orders at 1:10.
- TRADE NOWREAD REVIEWRegulatorsCIRO (Canada), CySEC (Cyprus, # 347/17), FRSA (United Arab Emirates, # 190018), FFAJ (Japan, # 1574), FSCA (South Africa, # 45984), FSRA (Canada, # 190018), ISA (Israel, # 514666577), JFSA (Japan, # 1662), ASIC (Australia, # 406684), BVIFSC (Virgin Islands, British, # SIBA/L/13/1049), CBI (Ireland, # C53877)PlatformsAvaOptions, DupliTrade, AvaSocial, MetaTrader 4, MetaTrader 5, AvaTadeGO, Proprietary Web, ZuluTrade4. AvaTradeMin Deposit$100FeesNo deposit and withdrawal feesDeposit Methods CommissionsNoneSpreadEUR/USD: AVG 0.8 pips, GBP/USD: AVG 1.2 pips, USDJPY: AVG 1.3 pipsWithdrawal Methods Leverage EU1:2Leverage non-EU1:400 (Pro Account), 1:30 (Standard Account)InstrumentsBonds CFDs, Commodities CFDs, Crypto CFDs, Crypto Options, Energy CFDs, ETF CFDs, Forex CFDs, Forex Options, Index Options, Indices CFDs, Metals CFDs, Share CFDs, Stock CFDs, Stock Options, US Stock Options* CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
With competitive spreads and a wide range of tradable instruments, AvaTrade is the go-to online provider for more than 200,000 customers around the world.
As a multinational trading company, AvaTrade has obtained licenses from several financial regulators in different regions, including the Australian Securities and Investments Commission, the Financial Services Agency, and the South African Financial Sector Conduct Authority, among others.
There are many advantages to trading cryptocurrencies on AvaTrade, including Dogecoin. When trading Dogecoin CFDs, customers do not need a crypto wallet because they do not own the underlying asset; instead, they speculate on its price fluctuations. Given the asset’s high volatility, they also have the opportunity to short-sell without restrictions.
With a maximum allowable leverage of 1:2 for all crypto assets, traders can take larger market positions and potentially earn greater profits. The typical spread for trading Dogecoin is about 1% over market.
The company has developed and implemented useful tools designed to identify trading opportunities and manage risk, such as Trading Central, AvaProtect, and AvaSocial.
Customers can choose from the popular and highly customizable MetaTrader 4 and 5 platforms, AvaTrader, and WebTrader. Trading on the go is also possible thanks to the custom-built AvaTradeGO mobile app.
- 5. AdmiralsMin Deposit$100Fees
- No deposit and withdrawal fees;
- Monthly inactivity fee of $10 after 12 months of no login activity;
- 0.3% currency conversion fee
CommissionsNoneSpread- Minimum spreads of 3%
- Typical spreads of 3%
Leverage EU1:2Leverage non-EU1:2* CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.Admirals offers an impressive catalog of more than 8,000 tradable instruments across seven distinct asset classes, including forex, commodities, indices, bonds, stocks, ETFs, and cryptocurrencies. The operator uses the world-renowned MetaTrader software.
Having started operations in 2001, the brokerage company has succeeded in building a solid network of customers across many countries. As a highly reputable and trusted supplier, the brand has received regulatory approval from the financial authorities in Cyprus, the United Kingdom, and Australia.
The company offers CFD trading on a range of crypto assets, including Bitcoin, Ethereum, Dash, and Ripple. The popular Dogecoin is also part of the broker’s crypto offering. Typical spreads for this asset stand at 3%, while the maximum allowable leverage is 1:2.
Deposits are handled safely through a variety of payment processors such as Visa, MasterCard, Skrill, and Klarna.
Copy trading is among the various features enabled by Admirals. Inexperienced customers can copy the trades of successful registrants, thus increasing their chances of success. Seasoned traders, on the other hand, can share their experience with others, earning subscription fees for each follower in the process.
Risk-management tools such as Stop Loss, Take Profit, and copy-ratio limits are at the disposal of Admirals’ clients, enabling them to customize their trading experience according to their risk appetite and expectations.
- TRADE NOWREAD REVIEWRegulatorsCySEC (Cyprus, # 079/07), FSAS (Seychelles, # SD056), FSCA (South Africa, # 54018), ASIC (Australia, # 246566), BVIFSC (Virgin Islands, British, # SIBA/L/20/1135)PlatformsMetaTrader 4, MetaTrader 5, Proprietary Mobile, Proprietary Web, TradingView6. easyMarketsMin Deposit$25 ($2,000 for MT4 Premium, $10,000 for MT4 VIP)FeesNo deposit and withdrawal feesDeposit Methods CommissionsNoneSpreadEUR/USD: MIN 0.8 pips, EUR/USD: AVG 0.7 pips, GBP/USD: MIN 1.4 pips, GBP/USD: AVG 0.9 pips, USDJPY: MIN 1.5 pips, USDJPY: AVG 2 pipsWithdrawal Methods Leverage EU1:500 (CySEC | Pro Account), 1:30 (CySEC | Retail Account)Leverage non-EU1:500 (ASIC | Pro Account), 1:30 (ASIC | Retail Account), 1:2000 (FSAS | Retail Account)InstrumentsCommodities CFDs, Crypto CFDs, Forex CFDs, Forex Forwards, Forex Options, Indices CFDs, Metal Options, Metals CFDs, Share CFDs* CFDs and Options are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs and Options work and whether you can afford to take the high risk of losing your money.
Founded in 2001 in Cyprus, easyMarkets is a leading online trading broker licensed by the Cyprus Securities and Exchange Commission. The company is also regulated by the Australian Securities and Investments Commission.
easyMarkets provides high-quality CFD trading on an extensive range of assets, including shares, indices, metals, forex, commodities, and cryptocurrencies. The broker promises no slippage, tight fixed spreads, a free guaranteed Stop Loss, and Negative Balance Protection.
With the rise of cryptocurrency trading, easyMarkets has expanded its portfolio and now offers a wide selection of crypto pairs to its clients. In addition to Bitcoin, the broker offers CFD trading on Ripple, Ethereum, Cardano, Solana, and other assets. All cryptocurrencies can be traded with maximum leverage of 1:2. Spreads for Dogecoin trading are set at 0.0005.
The broker provides several trading platforms, including MetaTrader 4 and its proprietary web platform.
Deal Cancellation is a bespoke tool available to easyMarkets’ customers who enable the feature. It allows them to cancel losing deals for up to 60 minutes. Customers who wish to use it should familiarize themselves with the applicable terms and conditions.
Freeze Rate is another feature that lets traders freeze the quoted price, giving them a short window to execute their trades.
The easyMarkets Academy offers traders a wide range of educational materials, including video tutorials, quizzes, and tests.
- TRADE NOWREAD REVIEWRegulatorsCySEC (Cyprus, # 109/10), FCA (United Kingdom, # 583263), FRSA (United Arab Emirates, # 220073), FinCEN (United States, # 31000204884179), FINRA (United States, # 298361), FSAS (Seychelles, # SD076), GFSC (Gibraltar, # 1333B), AMF (France, # E2022-038), MFSA (Malta, # C97952), SEC (United States, # 0001753042), ASIC (Australia, # 491139)PlatformseToro App, eToro CopyTrader, eToro Investing7. eToroMin Deposit$50 or $100 based on country ($10 for the UK)Fees
- 1% fee for buying cryptocurrencies, added to the Bid-Ask spread;
- Conversion fees to non-USD deposits and withdrawals;
- A $5 fee on withdrawals;
- Inactivity fee after 12 months of no login activity
Deposit Methods Commissions1% fee for buying cryptocurrenciesSpreadEUR/USD: AVG 1 pips, GBP/USD: AVG 2 pips, USDJPY: AVG 1 pipsWithdrawal Methods Leverage EU1:400 (CySEC | Pro Account), 1:30 (CySEC | Retail Account)Leverage non-EU1:400 (FSAS | Retail Account)InstrumentsCommodities CFDs, Crypto CFDs, ETF CFDs, Forex CFDs, Indices CFDs, Metals CFDs, Share CFDs, Stock CFDs, US Stock CFDsCrypto investments are risky and may not suit retail investors; you could lose your entire investment. Understand the risks here.Founded in 2007, eToro is among the most popular trading brokers catering to customers from all over the world. The operator has been distinguished for its competitive pricing, diverse crypto trading portfolio, and a great environment for social trading. The CopyTrader feature of the platform enables customers to replicate the moves of other successful traders.
The company has obtained licenses from several financial regulators in the regions where its subsidiaries operate – the ASIC in Australia, CySEC in Cyprus, and the FCA in the UK, among others.
Besides the innovative opportunities the platform has introduced to the world of trading, it also supports a diverse assortment of cryptocurrencies and a crypto wallet, eToroX. Along with the widely popular Bitcoin (BTC), the platform offers a host of other digital currencies to trade, including Cardano (ADA), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP), to name a few.
As far as Dogecoin (DOGE) is concerned, the operator offers competitive spreads of just 2.9%. The maximum allowable leverage for EU-based customers of the company for Dogecoin CFD trading is set to 1:2.
As for the trading platform, eToro uses a custom-built solution that can be accessed directly from the browser of a PC or mobile device. It offers a host of convenient trading features, including a demo account, Stop Loss, Take Profit, and One-Click trading, among others. (Stop Loss and Take Profit are not guaranteed)
- TRADE NOWREAD REVIEWRegulatorsPlatformsMetaTrader 4, MetaTrader 5, Proprietary Mobile, Proprietary Web8. PepperstoneMin Deposit$0Fees
- No deposit and withdrawal fees
- No account maintenance and inactivity fees
Deposit Methods CommissionsNone for standard accountsSpreadEUR/USD: AVG 1.1 pips, GBP/USD: AVG 1.3 pips, USDJPY: AVG 1.3 pipsWithdrawal Methods Leverage EU1:500 (CySEC | Pro Account), 1:30 (CySEC | Retail Account), 1:30 (FCA | Retail Account)Leverage non-EU1:500 (SCB | Pro Account), 1:30 (ASIC | Retail Account), 1:30 (DFSA | Retail Account), 1:200 (SCB | Retail Account)InstrumentsCommodities CFDs, Crypto CFDs, Energy CFDs, Forex CFDs, Indices CFDs, Metals CFDs, Stock CFDs* CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.9% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.Pepperstone is a highly reputable trading brand with a strong customer-oriented approach. Founded in 2010, the company operates in strict compliance with the highest industry standards. It provides everything necessary for a flawless trading environment – from highly functional trading tools to advanced technology and award-winning customer support.
The company has accomplished its goal of expanding its global reach to as many jurisdictions as possible and, as a result, is one of the largest MetaTrader brokers. The trading volume processed daily stands at US$12.55 bn, which ranks the broker among the global leaders.
In terms of regulatory approval, Pepperstone holds licenses from CySEC, ASIC, the FCA, and the CMA, among others. Customer funds are held in segregated accounts with tier-1 banks.
Clients of Pepperstone can choose among four trading platforms – MetaTrader 4, MetaTrader 5, cTrader, and TradingView.
For Dogecoin trading, the platform offers average spreads of 0.0013, making it particularly suitable for trading this specific asset class. Customers can take advantage of the high volatility typical of the crypto trading market. Educational resources for trading cryptocurrency CFDs are available, along with tips for market analysis.
- TRADE NOWREAD REVIEWRegulatorsCySEC (Cyprus, # 319/17), FCA (United Kingdom, # 793714), SCB (Bahamas, # SIA-F245), ASIC (Australia, # 513393), ESCA (United Arab Emirates, # 20200000176)PlatformsMetaTrader 4, Proprietary Mobile, Proprietary Web, TradingView9. Capital.comMin Deposit$20FeesNo deposit and withdrawal feesDeposit Methods CommissionsNoneSpreadEUR/USD: AVG 0.6 pips, GBP/USD: AVG 1.3 pips, USDJPY: AVG 1 pipsWithdrawal Methods Leverage EU1:30 (CySEC | Retail Account), 1:30 (FCA | Retail Account), 1:300 (CySEC | Pro Account), 1:300 (FCA | Pro Account)Leverage non-EU1:30 (ASIC | Retail Account), 1:200 (SCB | Retail Account)InstrumentsCommodities CFDs, Commodity Futures, Crypto CFDs, Crypto futures, Currency Futures, Forex CFDs, Index Futures, Indices CFDs, Options, Share CFDs* CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83.45% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Capital.com is the go-to platform for traders of all levels around the world. This is due not only to the competitive spreads offered by the broker, but also to its high-speed order execution. Furthermore, there are many other benefits to creating an account with this trading broker. Customers have access to more than 7,400 of the world’s most-traded financial assets.
A host of educational resources – including articles, video tutorials, and a comprehensive glossary of trading terms – is available to Capital.com’s customers, aiming to improve their trading performance.
To minimize losses, Capital.com has implemented various risk-management tools, such as Stop-Loss, Take-Profit, and Negative Balance Protection.
Capital.com charges no commissions on trades. With tight spreads and low overnight fees, it offers an ideal environment for cryptocurrency trading. There are no additional non-trading fees, such as those charged for deposits and withdrawals.
Traders who choose Capital.com to trade Dogecoin have the advantage of staying informed about the latest Dogecoin price through the platform’s live chart. DOGE’s unlimited supply and low price have made it a sought-after asset for small transactions, especially within social media communities. Traders can profit from DOGE/USD price swings by taking either a long or short position.
- 10. IC MarketsMin Deposit$200Fees
- No deposit and withdrawal fees
- No account inactivity fees
Deposit Methods CommissionsNone for standard accountsSpreadEUR/USD: AVG 0.82 pips, GBP/USD: AVG 1.03 pips, USDJPY: AVG 0.94 pipsWithdrawal Methods Leverage EU1:500 (CySEC | Pro Account), 1:30 (CySEC | Retail Account)Leverage non-EU1:1000 (FSAS | Retail Account)InstrumentsCommodities CFDs, Crypto CFDs, Energy CFDs, Forex CFDs, Indices CFDs, Metals CFDs, Stock CFDs* Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.IC Markets is a renowned trading platform offering a diverse portfolio of more than 2,000 tradable instruments. Traders who join the broker benefit from tight spreads and an impeccable trading environment. The trading broker is dedicated to delivering the most competitive prices along with cutting-edge technological solutions.
IC Markets holds a license issued by the Financial Services Authority of Seychelles. Clients’ funds are stored safely, separately from the company’s assets.
IC Markets utilizes the three most popular trading platforms on the market – MetaTrader 4, MetaTrader 5, and cTrader. To enhance customers’ overall trading experience, IC Markets has introduced 20 unique trading instruments that were not previously available on the MetaTrader 4 platform. These advanced tools set the platform apart from the competition and provide traders with an exclusive experience.
When it comes to trading Dogecoin, IC Markets offers average spreads of 0.001. Besides BTC, the platform supports other tradable crypto assets such as ADA, XRP, and ETH, to name a few. Overall, the trading portfolio features more than 20 different crypto assets, available for trading seven days a week on the advanced MT4 and MT5 platforms. Customer support is of the highest quality and is easily reachable 24/7.
Dogecoin (DOGE), a popular digital asset among crypto traders and investors, is considered the first ‘meme coin’. Subsequently, it inspired the creation of many similar coins. The software engineers who created it, Billy Markus and Jackson Palmer, originally started the project as a joke, aimed at the hype surrounding widespread speculation in cryptocurrencies back in 2013.
Despite its light-hearted character, the crypto asset has proved to have legitimate investment potential, reaching a market capitalisation of $78 billion in 2022 and becoming one of the most highly traded crypto assets.
Dogecoin’s potential lies in the great community that has developed alongside the crypto asset itself. Besides its use for tipping people on social networks, Dogecoin is also accepted as a payment method by a number of merchants. Therefore, it is not the technology, but rather the vibrant community that is Dogecoin’s real power.
Similar to Bitcoin, Dogecoin is generated through mining. However, while Bitcoin has a capped supply of 21 million coins, Dogecoin does not have a fixed limit on the number of coins that can be mined. This makes it an ‘inflationary’ crypto asset.
As a cryptocurrency based on Luckycoin (a fork of Litecoin), Dogecoin was originally mined through the auxiliary Proof-of-Work mechanism. Besides being highly secure, the Dogecoin blockchain offers lower transaction costs compared with Bitcoin.
Much like other crypto assets, Dogecoin is highly susceptible to price fluctuations and has experienced surges and collapses in value over the years. The main factor that impacts Dogecoin’s value is media attention. The community behind Dogecoin has organised several fundraisers, which in turn tend to attract media coverage and ultimately raise the coin’s value.
How DOGE trading works for traders and brokers
Although Dogecoin was originally introduced as a ‘joke’ coin, it has grown to become one of the most widely traded cryptocurrencies worldwide. Dogecoin’s purpose is to act as a global payment network, enabling fast, hassle-free and low-cost transactions.
We will now focus on the process of trading Dogecoin from the perspectives of both traders and brokers.
How DOGE trading works for traders
To start trading Dogecoin, traders should follow these steps:
When seeking exposure to Dogecoin, traders have two options. The first is to own the coin – in other words, to invest in it and keep it for a period in a crypto wallet. The goal of such investment is that the asset’s price will rise, thereby generating a profit.
The second option involves speculating on the price of Dogecoin. Trading Dogecoin with a broker means using Contracts for Difference (CFDs).
When trading via CFDs, they speculate on Dogecoin’s price movements without owning the underlying asset. Given that the Dogecoin market, and the cryptocurrency market as a whole, is highly volatile, traders should be aware that prices are driven by various factors.
To open a trading account, traders must provide their personal and contact information. Once created, the account should be verified in line with best practice within the trading industry.
To start trading, customers need to fund their accounts. Trading brokers offer a variety of deposit methods, including credit and debit cards, bank transfers and digital wallets.
When dealing in the Dogecoin market, traders should learn to analyse its price movements. This can be done through technical and fundamental analysis. While technical analysis studies an asset’s price over time, fundamental analysis seeks to understand an asset’s value in context and establish whether it is undervalued or overvalued.
How DOGE trading works for brokers
For trading brokers, we will examine a few key concepts, including their pricing policies, the leverage ratios they offer and the regulatory bodies with which they comply.
Trading brokers generate profits either through a commission-based pricing model or via a spread-based mechanism. In the first case, brokers rely on commissions to earn revenue from the services they provide. If the platform does not charge a commission, it will instead rely on a spread-based policy. Tighter spreads, or smaller differences between the buy and sell price of assets, indicate lower trading costs. Other costs associated with trading include deposit and withdrawal fees, account maintenance fees, inactivity fees and overnight fees. Not every broker charges all of them, so traders should check the fee schedule in advance.
Reputable trading brokers comply with the requirements of the financial authorities in the jurisdictions in which they operate. When compiling our list of top ten Dogecoin trading brokers, we took this essential aspect into account.