Dogecoin (DOGE), a popular digital asset among crypto traders and investors, is considered the first “meme coin”. Subsequently, it inspired the creation of many other 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 the wide speculations in cryptocurrencies, back in 2013.
Despite its light-hearted character, the crypto asset turned out to have legitimate investment potential, reaching a market capitalization 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 been created and grown along with the crypto asset itself. Besides its use to tip people on social networks, Dogecoin is also accepted as a payment method by a number of merchants. Therefore, it is not 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 has not got a fixed market limit on the number of coins that could be mined. This makes it an “inflationary” crypto asset.
As a cryptocurrency that is based on Luckycoin (a fork of Litecoin), Dogecoin was originally mined by the use of the auxiliary Proof-of-Work mechanism. Besides being highly secure, the Dogecoin blockchain features lower transaction costs compared to Bitcoin.
Much like the other crypto assets, Dogecoin is widely susceptible to price fluctuations, and has seen surges and collapses in value over the years of its existence. The main factor which impacts Dogecoin’s value is media attention. The community behind Dogecoin has organized several fundraisers, which in turn tend to attract media attention, 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 among the most widely traded cryptocurrencies around the world. Dogecoin’s purpose is to act as a global payments network, enabling fast, hassle-free, and low-cost transactions.
We are now going to concentrate on the process of trading Dogecoin for traders and brokers.
How DOGE Trading Works for Traders
To start trading Dogecoin, traders should go through the following steps:
As far as getting exposure to Dogecoin is concerned, traders have to choose between two options. The first one is to own the coin, or, in other words, to invest in it and keep it for a particular period in a crypto wallet. The main purpose of the investment is the possibility that the crypto asset’s price will rise and thus generate a profit.
The second option involves speculations on the price of Dogecoin. Trading Dogecoin with a Broker means traders make use of Contracts for differences (CFDs).
When trading via CFDs, they speculate on the price fluctuations of Dogecoin. They do not own the underlying asset. Considering that the Dogecoin market, and that of cryptocurrencies as a whole, are hugely volatile, traders should be aware that prices are driven by various factors.
To open a trading account traders should populate their personal and contact information. Once created, the account should be verified, in line with the best practices within the trading industry.
To be able to start trading, customers should have a funded account. Trading Brokers offer a variety of different methods to load funds to their platforms, including credit and debit cards, bank transfers, and digital wallets, among others.
When dealing in the Dogecoin market, traders should learn to analyze its price movements. This can be done through technical and fundamental analysis. While technical analysis relies on the study of an asset’s price over time, fundamental analysis aims at understanding an asset’s value in context and figuring out if it is undervalued or overvalued.
How DOGE Trading Works for Brokers
In terms of trading brokers, we will look into a couple of concepts regarding the pricing policy of different operators, the leverage ratios they offer, as well as the trading regulatory bodies they comply with.
Trading brokers accumulate profits either through a commission-based pricing model or via a spread-based mechanism. With the first one, brokers rely on commissions to derive profits from the services they offer. If the platform does not charge a commission, the other option is to 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 related to trading include deposit and withdrawal fees, account maintenance fees, inactivity fees, and overnight fees. Not every broker charges all of them, therefore, traders are supposed to check them in advance.
Reputable trading brokers comply with the requirements of the financial authority within the jurisdiction they operate in. When compiling our list of top ten Dogecoin trading brokers, we have considered this important aspect.
Top Ten DOGE Trading Brokers
From the very beginning of its existence, Dogecoin seems to be making waves in the cryptocurrency investment world, attracting lots 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 portfolio, and we look into different aspects of their service.
Besides minimum deposit requirements, fees, commissions, spreads, and leverage, we look into various other aspects such as regulatory bodies, allowable deposit methods, diversity of the portfolio, trading platforms, mobile trading options, and more.
- Min DepositNo minimum deposit requirementsFees
CommissionsStart from $2.25 per lot commissionSpread
- No deposit and withdrawal fees
- No account inactivity fees
Leverage EU2:1Leverage non-EU10:1* 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.
- Minimum spreads of 0.001
- Average spreads of 0.001
Established in 2017 in Melbourne, Fusion Markets is a popular online trading destination serving primarily the needs of the Australian market. As the company continues to expand, more offices are expected to be opened around the world.
There are no minimum deposit requirements, which makes the platform particularly suitable for novice traders. This Broker has been continuously dedicated to offering the lowest trading costs in the industry. The fee-free account funding methods make it even more appealing to traders of all levels.
Falling under the regulation of 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 tools, including CFDs on Forex, shares, indices, and crypto, traders of all levels will find a market that perfectly suits their trading needs.
At Fusion Markets, those interested in cryptocurrency trading can diversify their portfolio thanks to the wide range of tradable crypto assets. The available crypto pairs to trade with include Dogecoin, featuring average spreads of 0.001. Fusion Markets relies on the industry-standard MetaTrader 4 and 5 platforms.
Automated trading is available, as well as the standard Stop Loss feature. Copy trading is also at the disposal of Fusion Markets’ customers.
- 2. AvaTradeMin Deposit$100FeesNo deposit and withdrawal feesCommissionsNoneSpread1% Over-marketLeverage EU2:1Leverage non-EU2:1* 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 nice 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 of trading cryptocurrencies on AvaTrade, including Dogecoin. While exploring Dogecoin CFDs, customers do not need a crypto wallet, as they do not own the asset, but rather trade on its price fluctuations. In view of the asset’s high volatility, they have the opportunity to short sell without restrictions.
With a maximum allowable leverage of 2:1 for all crypto assets, traders have the chance to occupy a larger market position and potentially extract a greater profit from the market. The typical spreads for trading Dogecoin stand at 1% Over-market.
The trading company has developed and implemented handy tools designed for tracking trading opportunities and risk management such as Trading Central, AvaProtect, and AvaSocial.
Customers can choose between the popular and highly-customizable MetaTrader 4 and 5 platforms, AvaTrader, and WebTrader. Trading on the go is also enabled thanks to the custom-built AvaTradeGO mobile app.
- 3. 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
Leverage EU2:1Leverage non-EU2:1* 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.
- Minimum spreads of 3%
- Typical spreads of 3%
Admirals offers an impressive catalog of more than 8,000 tradable instruments across 7 distinct asset classes, including Forex, commodities, indices, bonds, stocks, ETFs, and cryptocurrencies. The operator makes use of the world-renowned MetaTrader software.
Having started its 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 the regulatory approval of financial authorities in Cyprus, the United Kingdom, and Australia.
The company offers trading CFDs on a range of different crypto assets including Bitcoin, Ethereum, Dash, and Ripple. The popular Dogecoin is also part of the crypto offering of this Trading Broker. Typical spreads for this crypto asset stand at 3%, while the maximum allowable leverage is 2:1.
Deposits are safely handled through a variety of processors such as Visa, MasterCard, Skrill, and Klarna.
Copy Trading is among the various trading features enabled by Admirals. Inexperienced customers of the brand can copy the trades of other 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 trading expectations.
- 4. FP MarketsMin Deposit$100FeesNo deposit and withdrawal feesCommissionsNo commission for Standard accounts and $3 per side for Raw accountsSpread
Leverage EU2:1Leverage non-EU2:1* 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.
- Minimum Spreads of 0.0020
- Average Spreads of 0.0020
FP Markets is yet another crypto-friendly trading platform that targets the Australian trading market. As a leading trading platform, its services are in line with the regulations of the Australian Securities and Investments Commission. The Trading Broker accepts registrants from other countries as well, and its international operations comply with the requirements of the Cyprus Securities and Exchange Commission.
Since the start of operation in 2005, the trading platform has accumulated a diverse trading portfolio, including many 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 time, and a diverse range of financial instruments. Traders have a choice 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. As a highly traded crypto asset, Dogecoin has found a place in FP Markets’ portfolio. The average spreads for Dogecoin trading stand at 0.0020. As is typical for the highly-volatile crypto trading markets, the maximum allowable leverage has been set to 2:1. Other frequently traded cryptos include Bitcoin, Litecoin, Ripple, and Ethereum, to mention a few.
- 5. easyMarketsMin Deposit$100FeesNo deposit and withdrawal feesCommissionsNoneSpreadSpreads from 0.0005Leverage EU2:1Leverage non-EU2:1* 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 trading broker, holding a license from the Cyprus Securities and Exchange Commission. The company also falls under the regulation of the Australian Securities and Investments Commission.
EasyMarkets provides high-quality trading of CFDs on an extensive range of assets including shares, indices, metals, Forex, commodities, and cryptocurrencies. The supplier promises no slippage, tight fixed spreads, free guaranteed Stop Loss, and Negative Balance Protection.
With the rise of cryptocurrency trading, easyMarkets has adapted its portfolio and has added a wide range of crypto pairs at the disposal of its customers. Besides Bitcoin, easyMarkets offers trading CFDs on Ripple, Ethereum, Cardano, and Solana, among other assets. All cryptos are traded with a maximum allowable leverage of 2:1. Spreads for Dogecoin trading stand at 0.0005.
The Broker offers a choice among several trading platforms including Metatrader 4 and a proprietary web platform.
Deal Cancellation is a bespoke tool, at the disposal of EasyMarkets’ customers who have enabled the feature. It allows them to cancel their losing deals for up to 60 minutes. Customers willing to utilize it should familiarize themselves with the attached terms and conditions.
Freeze Rate is yet another functionality enabling traders to freeze the offered prices and giving them a short time to execute their trades.
The easyMarkets Academy offers traders a wide range of educational materials including video tutorials, quizzes, and tests.
- 6. eToroMin Deposit$10Fees
CommissionsNoneSpreadFrom 2.9%Leverage EU2:1Leverage non-EU5:1* CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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.
- 1% fee for buying or selling cryptocurrencies, added to the Bid-Ask spread;
- No account management fees;
- Conversion fees to non-USD deposits and withdrawals;
- A $5 fee on withdrawals;
- Inactivity fee after 12 months of no login activity
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 accordance with the region its subsidiaries operate in – the ASIC in Australia, the CySEC in Cyprus, and the FCA in the UK, among others.
Besides the innovative trading opportunities that the platform has introduced to the world of trading, it also supports a diverse crypto trading assortment and a crypto wallet, eToroX. Along with the widely popular Bitcoin (BTC), the platform offers a host of other digital currencies to trade with, including Cardano (ADA), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP), to mention a few.
As far as Dogecoin (DOGE) is concerned, the operator offers competitive spreads of 2.9%. The maximum allowable leverage for EU-based customers of the company for Dogecoin CFDs trading is set to 2:1.
As for the trading platform, eToro uses a custom-built solution, which can be directly operated from the browser of a PC or portable device. It is uniquely characterized by a host of convenient trading features including a demo account, Stop Loss, Take Profit, and One-Click trading, among others.
- 7. PepperstoneMin Deposit$200Fees
CommissionsNone for standard accountsSpread
- No deposit and withdrawal fees
- No account maintenance and inactivity fees
Leverage EU2:1Leverage non-EU10:1* 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.
- Minimum spreads of 0
- Average spreads of 0.0013
Pepperstone is a highly-reputable trading brand that has a marked customer-oriented approach. Founded in 2010, the company operates in strict compliance with the highest industry standards. It delivers 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 to expand its global reach to as many jurisdictions as possible, and as a result, it is one of the largest MetaTrader brokers. The trading volume processed on a daily basis stands at US$12.55bn, ranking this Broker on one of the leading spots on a global scale.
In terms of regulatory approval from renowned financial authorities, Pepperstone holds licenses from CySEC, ASIC, FCA, and CMA, among others. Customer funds are held in segregated accounts with tier 1 banks.
Clients of Pepperstone can choose between 4 trading platforms – MetaTrader 4, MetaTrader 5, cTrader, and TradingView.
In terms of Dogecoin trading, the platform offers average spreads of 0.0013, making it exclusively suitable for trading with this particular asset class. Customers can take advantage of the high volatility typical for the crypto trading market. Educational resources for trading cryptocurrency CFDs are available, along with tips for market analysis.
- 8. PrimeXBTMin Deposit
- No minimum deposit requirements
- 0.01 BTC for Copy-trading
Commissions0.05%SpreadFrom 0Leverage EU20:1 (10:1 for Copy-trading)Leverage non-EU20:1 (10:1 for Copy-trading)* PrimeXBT products are complex instruments and come with a high risk of losing money rapidly due to leverage. These products are not suitable for all investors. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
- No account maintenance fees
- No deposit and withdrawal fees
PrimeXBT is among the fastest and most trustworthy platforms within the trading industry. Customers from more than 150 countries are served and the average daily volume amounts to over $1 billion. A best-in-class platform, multiple markets easily accessible from a single account, 24/7 customer support, and competitive pricing are just a few of this trading broker’s merits.
Since its launch in 2018, PrimeXBT has been a crypto-friendly platform, offering favorable trading conditions for those interested in the thrilling financial investments market. As the cryptocurrency industry has developed and matured, PrimeXBT has been constantly adding new cryptocurrency assets and altcoin trading pairs, aiming to build a truly diverse multi-asset platform.
The newest digital assets that have been listed on PrimeXBT include high-liquidity coins such as Uniswap, Solana, Polkadot, Chainlink, and Dogecoin, among others. The trading broker has a Covesting copy trading module. Dogecoin is available with up to 20:1 leverage when margin trading and up to 10:1 leverage when Copy-trading.
Since the crypto market is highly volatile, PrimeXBT has developed and implemented various risk management tools, enabling traders to minimize losses when price dips occur. Cryptocurrency price charts are at the disposal of PrimeXBT customers, assisting them in making knowledgeable trading moves.
- 9. Capital.comMin Deposit$20FeesNo deposit and withdrawal feesCommissionsNoneSpreadFloatingLeverage EU2:1Leverage non-EU30:1* 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 operator but also because of the high speed of order execution. Furthermore, there are many other benefits of 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, such as articles, video tutorials, and a comprehensive glossary of trading terms have been provided at the disposal of 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 a perfect environment for trading in cryptocurrency. There are no additional non-trading fees such as ones charged for deposits and withdrawals.
Traders who have chosen Capital.com to trade in Dogecoin have the privilege to stay informed of the latest Dogecoin price with the platform’s live chart. DOGE’s unlimited supply and low price have made it a sought-after asset for small transactions, especially among social media communities. Traders are able to profit from DOGE/USD price swings by taking a long or short position.
- 10. IC MarketsMin Deposit$200Fees
CommissionsNone for standard accountsSpread
- No deposit and withdrawal fees
- No account inactivity fees
Leverage EU2:1Leverage non-EU5:1* 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.
- Minimum spreads from 0.001
- Average spreads from 0.001
IC Markets is a renowned trading platform with a diverse portfolio of more than 2,000 tradable tools. Traders who have joined the operator 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.
As far as regulation is concerned, IC Markets holds a license from the Financial Services Authority of Seychelles. Clients’ funds are safely stored separately from the company’s assets.
IC Markets utilizes the top three most popular trading platforms on the market – MetaTrader 4, MetaTrader 5, and cTrader. In order to enhance the customers’ overall trading experience, IC Markets has launched 20 unique trading instruments that have not been previously available on the MetaTrader 4 platform. These advanced tools set the platform apart from the competition and offer traders an exclusive experience.
As far as trading Dogecoin is concerned, IC Markets offers average spreads of 0.001. Apart from BTC, other tradable crypto assets available on the platform include ADA, XRP, and ETH, to mention a few. As a whole, the trading portfolio features more than 20 different crypto assets, available for trading seven days a week on the advanced MT 4 and MT 5 platforms. Customer support is of the highest quality and easily reachable 24/7.