Top Bitcoin Forex Brokers - 2018

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 More Info
eToro $200 None Web-based, Other 1:1 FCA, CySEC, MiFID Sign Up

Read Review

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

Read Review

Markets $100 None MetaTrader 4, Proprietary platform 1:5 CySEC, FSB Sign Up

Read Review

4 AvaTrade $100 Up To $5000 MetaTrader 4, Proprietary platform, Web-based 1:20 ASIC, MiFID, Central Bank of Ireland, FSC, BVIFSC Sign Up

Read Review

5 24Option $100 $24 for new Mobile App account/download MetaTrader 4 1:10 CySEC Sign Up

Read Review

6 Coinbase None None Other None NYS Department of Financial Services Accepts US clients
Accepts US clients
Sign Up

Read Review

7 Plus500 €100 None Proprietary platform 1:30 CySEC, Financial Conduct Authority (FCA), ASIC Sign Up

Read Review

Bitcoin Forex Brokers

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
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
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
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
24Option

24option is a market-making spot Forex and CFD broker located in Limassol, Cyprus and regulated by CySec. 24option opened its doors to traders in 2010 and for several years was in the forefront of binary options trading. They decided in 2017 to expand by moving away from binary options, and now offer trading in spot Forex and CFDs only. The CFDs on offer cover a wide range, from popular individual international stocks to commodities such as metals, energies and softs, as well as equity indices. They also offer a good, wide selection of Forex currency pairs.

24Option 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
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

Find The Right Bitcoin Trading Broker For You

Cryptocurrency trading is fairly easy to learn and can be profitable from the first trade. With millions of traders worldwide looking to jump on the crypto bandwagon, you can set yourself apart from the pack by taking time to understand the way the market works and to learn the technical factors that push the prices higher or lower. Setting up a demo account and practicing there before investing with real money can help protect you from losses. Though you may feel pressured to enter the market NOW, when things are hot, it’s worthwhile to take some time to practice so that you can get a feel for the flow, as cryptocurrency trading, and bitcoin trading specifically, doesn’t act like fiat currency trading. Taking a few days to teach yourself can protect your account in the long run.

What to look for in a bitcoin broker?

 Regulation: It’s important to deposit with a broker that is regulated so that your money will be protected in the event of an emergency. Not every cryptocurrency broker is regulated (and at the time of this writing, not every exchange is regulated either).

 Customer support: Many traders need assistance throughout their trading process, but not every bitcoin broker offers reliable support and fast response times. Before depositing, check the support policies with your broker of interest. Does it offer chat support? Phone support? Email assistance? Make sure that you’ll be able to get the answers you need when you need them.

 Initial Deposit: Some brokers require a large minimum deposit while others have no minimum, or low minimum deposit requirements. Don’t feel pressured to choose a bitcoin broker whose deposit is too high for you – you will be able to find one that can meet your needs. Just make sure that you don’t trade with money that you can’t afford to lose.

 Charges and fees: In order to entice bitcoin traders, many bitcoin brokers promise ‘no commissions’ on cryptocurrency trading. Make sure to read the fine print to determine if there are rollover fees for overnight positions or other hidden fees that can take a bite out of your profits.

 Leverage: Most brokers limit the leverage offered on cryptocurrency trading due to the high volatility of the assets. If leverage is offered, it can range from 2:1 to 30:1. Take care not to use too much leverage as strong movements against your position can cause irrevocable damage to your account.

 Free demo account: Cryptocurrency brokers, as compared with cryptocurrency exchanges, usually offer a free demo where you can test your trading strategies before depositing. Take time to take advantage of this offering – it’ll help you stay focused and profitable in the long run.

 Trading platform: There are dozens of bitcoin trading platforms available, from the standard MetaTrader 4 to proprietary platforms built by individual brokers. You can choose between web platforms or downloadable options, or a combination of both. Don’t be afraid to test out different platforms to see which one works best for you.

 Educational materials: There is so much to say about bitcoin trading, and about cryptocurrency trading in general, but not every broker has taken the time to provide these insights to its traders. Consider whether you need to learn more before trading, or whether you’ve already got the knowledge you need. If your broker doesn’t offer the educational materials you seek, it may not be the right broker for you.

In Summary

“Cryptocurrency mania” is in full swing, and it shows no sign of slowing down anytime soon. It’s perfectly normal or you to want to get in on the action, and to find profits on cryptocurrencies when possible. Make sure to remember that as quickly as prices rise, they can also fall, and that there are several strong technical indicators that can be used to predict market directions for cryptocurrencies. The DailyForex team has tested many of the top cryptocurrency brokers and given you our findings to help you make a confident, informed decision about which broker is right for you, so that you can trade intelligently and comfortably during these exciting times.