Top Bitcoin Forex Brokers

Bitcoins are digital coins that can be sent through the internet. They are the first decentralized currency. There are a finite number of bitcoins - 21 million exist and they are predicted to last until 2140. The value of the bitcoin is constantly fluctuating and bitcoin technical analysis is required in order to know when to buy and sell this currency. There are currently several online currency exchanges available where one can exchange dollars, euros and other currencies for bitcoins. Bitcoins are traded primarily through bitcoin brokers and reliable Forex brokers that offer bitcoin trading as one of their assets. Read our bitcoin broker reviews below before deciding which bitcoin broker to use.

How to Make Money Trading Bitcoin

There are several ways to make money trading bitcoin, most of which is done when trading this virtual currency against the US dollar (in market terms this trade is known as the BTC/USD pair). The first (and perhaps the easiest) is to find a top bitcoin broker and invest in the digital currency in the same way you would a physical currency – buy low and sell high. Since bitcoin is an extremely volatile currency you should be able to identify the dips with a bit of studying and bitcoin research.

Bitcoin research can be done on both the fundamental and technical levels (or both, of course). On the technical level, bitcoin technical trends tend to stretch about a year at a time so it shouldn't be impossible to identify and make your trade accordingly. On the fundamental level, traders must look at the number of bitcoin traders, the number of wallets being used and the volume of bitcoin trades to determine what they think the currency should be worth – and then trade accordingly. Though it's certainly possible to make money trading bitcoin in this way, it's definitely more speculative.

No matter what strategy you use to trade bitcoin it's important to make sure that you have chosen the best bitcoin broker to invest with. Don't forget to compare the spreads of different bitcoin brokers to make sure you won't be paying fees that are too high, and the execution time to ensure you'll be getting the price you want. You may also want to consider the leverage available for bitcoin trading so that you can increase your risk/reward ratio and your chances for profit. Most of all we recommend that you make sure to choose a regulated bitcoin broker so that your money will be secure at all times.

Broker's Name Minimum Deposit Deposit Bonus Type of Platform Maximum Bitcoin Leverage Regulation Rating More Info
AvaTrade $100 Up To $5000 MetaTrader 4, Proprietary platform, Web-based 1:20 MiFID, Central Bank of Ireland, ASIC, FSC, BVIFSC

9.8/10
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eToro $200 None Web-based, Other 1:10 MiFID, ASIC, CySEC, FCA

9.7/10
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Markets $100 None MetaTrader 4, Proprietary platform 1:5 CySEC, FSB

9.6/10
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4 FXTM $5 Sign Up - 20% MetaTrader 4, MetaTrader 5, Sirix 1:3 CySEC, IFSC

9.3/10
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5 Plus500 €100 None Proprietary platform 1:30 CySEC, Financial Conduct Authority (FCA), ASIC

9.3/10
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6 Coinbase None None Other None NYS Department of Financial Services Accepts US clients
Accepts US clients

9.2/10
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Bitcoin Forex Brokers

AvaTrade

AvaTrade is among the top Forex brokers in the world with offices in New York, Dublin, Sydney, Milan, Tokyo and other locations. It is regulated by the Central Bank of Ireland and licensed by MiFID in the European Union as well as by several other licensing bodies. AvaTrade’s features include, among other things, a choice of platforms, a demo account, an Ava debit card for all live account holders, access to Trading Central charting tools for depositors of over $1000 and free withdrawals.

AvaTrade Review
eToro

eToro, founded in 2007 and domiciled in Limassol, Cyprus, is a leading social site on the global scene with 5,000,000 traders. It is regulated by NFA, CySEC, ASIC, CFTC, MiFID, FCA and has been the recipient of several awards.

eToro Review
Markets

Markets.com is operated by Safecap Investments Limited, a Financial Services Company authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 092/08 and by the Financial Services Board (FSB) in South Africa as an authorized Financial Services Provider under the no. 43906. Markets.com was the recipient of the London Investor Show Forex “Best Customer Service 2012” award, and the Global Banking Finance Review “Best Broker in Customer Service Europe 2012” award, in addition to numerous other awards over the past years.

Markets Review
FXTM

FXTM or Forex Time, founded in 2012, is still considered a newcomer to the online Forex trading scene. However, within a span of two short years, this broker has managed to carve out a name for itself by wining several industry awards such as “Best Newcomer 2013” and “Fastest Growing Forex Broker.” FXTM is headquartered in Cyprus and is regulated by IFSC of Belize as well as FSB.

FXTM Review
Plus500

Plus500 Ltd is headquartered in Israel with subsidiaries in the United Kingdom, Cyprus and Australia: Plus500 UK Ltd is authorized and regulated by the Financial Conduct Authority (FRN 509909). Plus500 CY LTD is authorized and regulated by the Cyprus Securities and Exchange Commission (License No. 250/14). Plus500AU Pty Ltd, AFSL #417727 issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents. Traders should understand that when trading with Plus500 they do not own the underlying assets and they must consider the disclosure agreements on the broker’s website.

Plus500 Review
Coinbase

Coinbase Inc. is a digital currency wallet and platform where merchants and consumers alike can buy, sell, store, bill and pay with the range of the major modern digital crypto-currencies such as Bitcoin, Ethereum, and Litecoin, against 32 established national fiat currencies. Coinbase is based in San Francisco, California, U.S.A. and was founded in 2012. In January 2017, Coinbase obtained a “Bitlicense” from the New York State Department of Financial Services, which authorizes the company to provide virtual currency business operations in New York. Coinbase Inc. is a privately-owned company, and has raised over $117 million from investors to date. As of May 2017, it had more than 7.4 million registered users

Coinbase Review