As we sail into the digital era, the distinction between traditional finance and the rapidly evolving cryptocurrency sphere is fading. With increasing interest in digital gold, choosing a dependable Bitcoin broker is essential. This comprehensive guide on the best Bitcoin forex brokers in the market today will help you make an informed decision and ensure a profitable trading journey.
10 Best Bitcoin Forex Brokers In 2024
Below, Bitcoin traders will find quick glimpse of the best Bitcoin forex brokers:
- eToro – Overall best Bitcoin brokers with tight regulations
- Capital.com – Top Bitcoin forex broker to trade BTC CFDs
- XTB – The most popular Bitcoin broker with high leverage
- Markets.com – One of the best Bitcoin forex broker with strong selection of high-quality educational content
- Tickmill – Overall the top low-cost forex and CFD broker in the market
- Libertex – The best Bitcoin forex broker with a sign-up bonus
- AvaTrade – Leading brokers with a wide variety of asset selections
- Pepperstone – One of the best Bitcoin brokers with highly competitive FX spreads
- IG – One of the most popular Bitcoin forex brokers of 2024
- XM – The global bitcoin trading platform
Not only are these trading platforms great for trading crypto forex online, but they are also the best commodity trading platforms that offer the highest leverage in the market.
Furthermore, with these platforms providers, traders will also be able to benefit from a seamless account opening process and super-fast deposit and payout.
What Does A Bitcoin Broker Do?
A Bitcoin broker serves as a mediator for Bitcoin and, occasionally, other cryptocurrency transactions. They offer a trading platform for users to buy and sell Bitcoin conveniently. It matches orders and enables efficient transactions at prevailing market prices.
These Bitcoin Forex platforms also provide real-time pricing, display current market rates, and offer additional tools like charts and historical data for informed decision-making.
Some other services Bitcoin brokers provide include managing trading accounts, ensuring strong security protocols, complying with regulations, offering customer support, and delivering educational resources. When choosing a Bitcoin trading platform, users should carefully evaluate factors like fees, security, reputation, and regulatory compliance.
Significance Of Bitcoin Broker
Cryptocurrency trading on the Forex market, capitalizing on exchange rate fluctuations, ranks among the top methods for profit generation. Numerous brokers now facilitate trading in Bitcoins and various cryptocurrencies, each establishing unique trading conditions that include minimum deposits, spreads, and the selection of available cryptocurrencies.
Trading Bitcoin safely requires a trusted broker. Avoiding scams is essential when dealing with Bitcoin. Many online brokers provide trading services, but not all of them are trustworthy or deliver on their promises to customers. To help you out, we have reviewed the best Bitcoin forex brokers of 2024 in detail. This comprehensive review is based on factors like regulatory compliances, range of assets, etc.
Review Of The Best Bitcoin Forex Brokers Of 2024
In this section, we have curated detailed reviews of the best Bitcoin forex brokers – which will offer traders insight into how they operate and what their advantages and drawbacks are. Pick out some of the best from this list of organized top picks.
1. eToro – The Best Bitcoin Forex Brokers With Copy Trading Features
The best Bitcoin forex broker in the market today is eToro, a pioneer in social investing, allows you to replicate professional cryptocurrency trades.
eToro broker also provides access to stocks and ETFs, making it a versatile platform. For those interested in owning physical Bitcoin, eToro is overall the best Bitcoin forex broker to choose. The Platform supports 80 cryptocurrencies on its widely used online trading platform and provides a multi-currency crypto wallet.
With eToro, investors can engage in buying and selling Bitcoin as the underlying asset, trade crypto CFDs, and even copy the trading strategies of other investors. eToro has garnered more than 25 million users spanning 140 countries worldwide. In 2022, the company expanded its offerings to include U.S. customers, granting them access to stocks and ETFs.
Unique Features Of eToro Brokers
In terms of unique features, eToro stands out from the rest. It offers a user-friendly copy-trading platform, allowing traders to replicate the strategies of experienced investors or gain exclusive benefits for sharing their own trading approaches.
As a versatile multi-asset broker, eToro enhances the trading experience. It offers the choice between trading CFDs and the underlying assets directly from the trade-ticket window.
Additionally, eToro caters to on-the-go traders with its mobile app. This app, is considered among the best crypto trading app in the market, conveniently mirrors the key features of the desktop version and is optimized for mobile screens. In the United States and the United Kingdom, a mere $10 deposit is required to kickstart trading.
International traders must commit a minimum of $50. Notably, there is no deposit fee, but a $5 charge applies to withdrawals. For deposits in currencies other than US dollars, a 0.5% conversion fee is levied.
eToro, an established online trading company, offers a secure and regulated platform for crypto trading. With a history spanning over a decade, eToro has a proven track record of safeguarding investor funds.
Crypto assets held in the eToro Money crypto wallet are securely stored on the blockchain. Additionally, assets on the company’s crypto trading platform are primarily kept in cold storage, minimizing the risk of funds being lost due to hacks or operational errors.
Why eToro Is The Best Bitcoin Forex Broker Of 2024?
Traders have several deposit options available, including debit/credit cards, Paypal, bank wire, Skrill, Neteller, and more. The platform charges a 1% fee and a spread for trading Bitcoin. Traders should also be aware of the inactivity fee, which amounts to $10 per month for those who are inactive for 12 consecutive months.
While the cost of trading Bitcoin has increased slightly, eToro has introduced a flat rate commission of 1% for nearly 200 crypto assets. This can be advantageous when trading emerging cryptocurrencies that would otherwise incur higher costs.
eToro offers a VIP club known as eToro Club, consisting of five membership tiers ranging from Silver to Diamond. These tiers cater to traders with balances between $5,000 and $250,000, offering various benefits depending on the membership level.
Platform Overview
| Number of cryptos | Access to over 79+ digital currencies |
| Minimum deposit | Requires $10 |
| Price for trading BTC | Charges 1% + spread |
| Key features |
|
Features We Like:
Regulatory Compliance: eToro operates under strict regulations, ensuring a secure trading environment.- Zero Deposit Fee: Users benefit from no deposit fees when funding their accounts.
- Social Trading: eToro facilitates social trading, allowing traders to follow and replicate the strategies of experienced investors.
- Smart Portfolios: The platform offers Smart Portfolios, providing a diversified investment approach.
- Payment Versatility: eToro supports multiple payment methods for user convenience.
75% of retail investor accounts lose money when trading CFDs with this provider.
2. Capital.com – One Of The Best Bitcoin Brokers With Great Selection Of Crypto CFDs
Capital.com, a CFD platform, allows traders to choose the BTC/USD pair. The platform holds licenses from four major entities: FCA (UK), CySEC (Cyprus), SCB (Bahamas), and ASIC (Australia), and serves clients across 183 countries.
At Capital.com, you can trade Bitcoin CFDs and other popular trending cryptocurrency CFDs, even with limited deposits in your account. Trading with Capital.com comes with advantages like zero commission, competitive spreads, and complete transparency with no hidden fees.
Unique Features Of Capital.com Brokers
The minimum deposit for starting trading is $20, with a suggested $100 for crypto. Capital.com doesn’t charge deposit or withdrawal fees, but there might be fees for holding positions overnight. There are no commissions on Bitcoin, just a $66 spread.
Capital.com offers a universal account for regular traders and a professional account for those who qualify. They provide three trading platforms: MetaTrader 4 for desktop and mobile, their own app, and TradingView, a user-friendly charting platform popular among technical analysts worldwide.
Why Capital.com?
Capital.com provides valuable resources for traders. Beginners can use the learning center to improve technical analysis, and advanced traders can enhance fundamental analysis through market analysis. A demo account allows testing and practice without financial commitments.
The trading platform offers ample educational materials, including articles, videos, and a comprehensive lesson program, ideal for beginners. This program comprises 28 lessons in five courses, ending with a test to evaluate financial knowledge and progress.
Platform Overview
| Number of cryptos | Access to over 450+ pairs |
| Minimum deposit | Requires $20 |
| Price for trading BTC | Charges $66 |
| Key features |
|
Features We Like
- Free Educational Content: Access to educational resources at no cost.
- Diverse Chart Options: Over 75 technical analysis tools and various chart types.
- Wide Range of Cryptocurrency Pairs: Multiple crypto pairs for trading.
- Low Minimum Deposit: An affordable minimum deposit requirement.
- User-Friendly Interface: A clear and easy-to-navigate interface available on desktop, app, and tablet platforms.
3. XTB – The Top Bitcoin Forex Broker With Wide Range Of Educational Materials
X-Trade Brokers (XTB is a CFD broker offering access to over 10 crypto CFDs, some with spreads as low as 0.22%. The spread amounts to $66.1, and traders can utilize 1:5 leverage. The web trading platform is compatible with Safari, Chrome, Firefox, and Opera.
With years of experience, XTB caters to both beginners and professional traders, providing low costs and strong support, including educational and research materials.
Unique Features Of XTB Broker
XTB is a trusted multi-asset broker that excels in customer service and offers a wide range of forex and CFD options for a great trading experience. Their xStation 5 platform is user-friendly and packed with innovative features.
With regulation by top authorities worldwide and a listing on the Warsaw Stock Exchange, XTB enjoys a high trust rating. The order execution on XM Trading is highly reliable and speedy, making it one of the best options for individual traders. Additionally, the broker offers various deposit accounts, including a cent account, which allows you to experiment with different strategies without risking a significant amount of capital.
Why XTB?
XTB is an FX and CFD broker, giving access to various financial instruments. It is one of the best Bitcoin forex brokers as it’s regulated in multiple places and keeps client funds separate. You can trade Bitcoin on XTB using xStation or xStation Mobile. The spread is $66.1, with 1:5 leverage. The web platform works on Safari, Chrome, Firefox, and Opera.
XTB has no minimum deposit requirements for its accounts. The Standard Account has no commission, while the Swap-free Account charges a $10 commission per lot, on top of the spread. But note that XTB offers fewer online trading tools compared to other brokers, and they are only available in the xStation5 platform.
Platform Overview
| Number of cryptos | Access to over 10+ digital currencies |
| Minimum deposit | Does not require minimum deposit |
| Price for trading BTC | Charges $66.1 |
| Key features |
|
Features We Like
- Advanced Trading Suite: XTB provides a highly advanced trading suite equipped with a wide range of analysis tools.
- No Minimum Deposit: There’s no minimum deposit requirement, making it accessible for all.
- Zero Commission: XTB charges 0% commission on all supported markets, reducing trading costs.
- Educational Videos: XTB offers an excellent variety of extensive educational videos, enhancing traders’ knowledge and skills.
4. Markets.com – The Best Bitcoin Broker With Robust Customer Support
For traders seeking a comprehensive and dependable online platform, Markets.com one of the best Bitcoin forex brokers of choice. It lives up to its name, offering a wide array of tradable assets across the financial markets.
Customers can select from an impressive range of 2,200 assets, including currency pairs, precious metals, global shares, bonds, ETFs, cryptocurrencies, and unique blends like the trade war blend and Warren Buffett blend.
Unique Features Of Markets.com Broker
Markets.com not only offers zero commissions but also presents highly competitive spreads on major forex pairs, extending to the wide range of exotic forex pairs available.
Their proprietary trading platform and MetaTrader support provide traders with a diverse set of investment analysis tools, indicators, and signals, aiding in optimal trading decisions.
Customer service is a top priority at Markets.com, evident right from the start of the sign-up process. Traders can easily register for demo and live accounts using their email address, or alternatively, their Google/Facebook accounts.
Why Markets.com?
In addition to its fundamental investor education resources, Markets.com provides a range of buy, sell, and hold signaling tools. Investors can leverage features such as stock alerts, insider trade alerts, hedge fund confidence indexes, and trading trends from fellow Markets.com users.
As for trading fees, Markets.com primarily employs variable spreads on all tradable assets. They do not charge any commission on trades, and there are no deposit or withdrawal fees. Moreover, for deposits exceeding $2500, Markets.com offers to reimburse customers for any bank charges or external transaction fees incurred.
Platform Overview
| Number of cryptos | Access to 19 cryptos |
| Minimum deposit | Requires $100 |
| Price for trading BTC | Charges $50 |
| Key features |
|
Features We Like
- Investor Education Tools: Markets.com offers accessible and informative tools for investor education.
- Easy Setup: The platform provides a straightforward setup process for users.
- Payment Variety: Numerous payment methods are available for convenience.
- Prompt Support: Markets.com offers responsive customer support.
- Free Educational Content: Access to valuable educational resources at no cost.
5. Tickmill – One Of The Best Bitcoin Forex Brokers With Low-Spreads
Tickmill has evolved from a straightforward MetaTrader platform provider to a versatile multi-asset broker. It now offers a diverse range of platforms and boasts ultra-competitive spreads on its commission-based VIP and Pro accounts. This makes Tickmill a top choice for active and VIP traders who enjoy some of the industry’s lowest-cost pricing.
Tickmill has gained its reputation through highly regarded trading conditions, placing a premium on speedy execution, incredibly competitive spreads starting at 0.0 pips, no-dealing desk execution, zero requotes, and an open embrace of all trading strategies.
Unique Features Of Tickmill Broker
What sets Tickmill apart from most forex and Bitcoin trading brokers are its diverse account options. Traders can choose from classic, pro, and VIP accounts, each offering unique features and advantages. Additionally, there’s an Islamic account available, and traders can explore the platform by downloading the demo account.
Tickmill’s evolution into a multi-asset broker continues with the introduction of MetaTrader 5 by its U.K. and EU entities, as well as the integration of TradingView. Moreover, Tickmill has expanded its offerings by incorporating the CQG platform for futures and options trading (U.K. only), along with the Mercury version of the AgenaTrader platform.
Why Tickmill?
What makes Tickmill one of the best Bitcoin forex brokers is its diverse account options. Traders can choose from classic, pro, and VIP accounts, each offering unique features and advantages. Additionally, there’s an Islamic account available, and traders can explore the platform by downloading the demo account.
Tickmill’s evolution into a multi-asset broker continues with the introduction of MetaTrader 5 by its U.K. and EU entities, as well as the integration of TradingView. Moreover, Tickmill has expanded its offerings by incorporating the CQG platform for futures and options trading (U.K. only), along with the Mercury version of the AgenaTrader platform.
Platform Overview
| Number of cryptos | Access to 8 digital currencies |
| Minimum deposit | Requires $100 |
| Price for trading BTC | Charges $25 |
| Key features |
|
Features We Like
- Copy Trading: Tickmill offers a copy trading feature, simplifying trading for users.
- Varied Accounts: With various account options, including classic, pro, and VIP, traders have flexibility.
- High Leverage: Tickmill provides leverage of up to 200:1, allowing for more trading flexibility.
- Professional Platforms: Tickmill is a reliable choice for professional trading, offering a solid selection of platforms.
6. Libertex – Overall the top-tier Bitcoin Brokers Of 2024
With more than two decades of experience in global trading, Libertex stands as a reliable broker. It’s an ideal choice for traders interested in Bitcoin forex trading and offers an award-winning platform. Technical traders will find advanced tools at their disposal. While fundamental traders can benefit from the wealth of news and market analysis provided by Libertex.
One notable advantage and unique feature of this best Bitcoin forex brokers is its in-house web trading platform, which offers unconventional functionality specifically tailored for beginner traders. This platform boasts a user-friendly interface, extensive information resources, and advanced technical tools, making it well-suited for those who are new to trading.
Unique Features Of Libertex Broker
Libertex excels in its fee policy, offering transparency and flexibility. Even on a demo account, users can view current prices and spreads for each underlying asset without verification. Demo accounts serve as ideal tools for new traders. They allow practice in online trading and help users become acquainted with the trading platform. This occurs in a risk-free simulated environment that closely mirrors live market conditions.
Traders can access a wide range of over 70 CFDs with spreads that start at 0.00. Libertex allows for substantial positions, offering leverage of up to 1:500, with a minimum deposit requirement of $10. Payment options include PayPal, bank wire, and debit/credit cards, with no deposit fees.
Inactive traders should be aware of a $5 monthly charge if they remain inactive for six consecutive months. Libertex doesn’t impose swap fees for overnight positions. Bitcoin trading is available on MetaTrader 4, MetaTrader 5, and a mobile app. Additionally, a demo account with a $50,000 balance for paper trading is freely accessible.
Why Libertex Is The Best Bitcoin Forex Brokers Of 2024?
Libertex ranks highly among traders worldwide. This is due to their unique pricing model based solely on commissions and the reliable trading platforms they provide. For beginners with little to no trading experience, Libertex is an excellent choice.
Libertex offers various bonuses to traders. They receive a 100% deposit bonus, which is added to their account for trading or withdrawals. Additionally, a loyalty program offers benefits like weekly trade ideas and the ability to adjust leverage on open trades.
New traders can earn between 5% and 12% interest annually on their initial deposit. Libertex provides both live and demo accounts. The demo account offers access to paper trading with a virtual balance of £50,000.
Platform Overview
| Number of cryptos | 70 |
| Minimum deposit | $10 |
| Price for trading BTC | Spread |
| Key features | Welcome bonus, loyalty program, MT 4 & MT 5 |
Features We Like
- Efficient Registration: A swift and hassle-free registration process.
- Comprehensive Market Analysis and Tools: Access to a variety of market analysis and trading tools.
- High Leverage: High leverage options for more flexible trading.
- Commission Discounts: Up to 50% commission discount is available to all clients.
- Competitive Spread: Tight spreads for cost-effective trading.
7. AvaTrade – One Of The Best Bitcoin Forex Brokers That Provides ZuluTrade
Traders seeking a wide array of options will appreciate AvaTrade as one of the top Bitcoin forex brokers. Established in 2006, Avatrade has earned its reputation as a prominent online Forex and CFD broker by prioritizing the online trading experience customers desire.
AvaTrade is a globally trusted brand renowned for its comprehensive range of trading platforms catering to forex and CFD traders. The company’s focus revolves around a customer-centric approach, offering products and services tailored to meet the specific needs of individual traders, regardless of their experience level.
Unique Features Of AvaTrade Broker
AvaTrade offers a variety of platforms for Bitcoin trading, including MetaTrader 4, MetaTrader 5, AvaTradeGo, and Webtrader. It’s particularly suitable for beginners as it facilitates connections with professional traders. Through DupliTrade and ZuluTrade, beginners can mimic the trades of experts and even automate them when they’re unable to trade. AvaTrade also provides an algorithmic trading platform on MT5.
AvaTradeGo, a user-friendly mobile app, comes with a range of features, including the AvaProtect insurance scheme, enhancing the trading experience.
Why AvaTrade?
Bitcoin traders on this platform typically encounter an average spread of $40. A leverage option of 25:1 is available, with a minimum deposit requirement of $100. Account funding can be done via debit/credit cards, bank transfers, Webmoney, Neteller, and Skrill.
AvaTrade is renowned for its award-winning mobile app, AvatradeGO, which offers robust risk management tools and seamless access to AvaSocial, the popular social trading system by AvaTrade.
Additionally, AvaTrade holds licenses from numerous top-tier regulators worldwide, ensuring fair treatment of its clients. Furthermore, the platform provides negative balance protection to all clients, guaranteeing that traders cannot lose more than their initial deposit.
Platform Overview
| Number of cryptos | Access to over 13 digital currencies |
| Minimum deposit | Requires $100 |
| Price for trading BTC | Charges $40 |
| Key features |
|
Features We Like
- Effortless Account Opening: Avatrade offers a straightforward and swift account opening process.
- Free Deposit and Withdrawal: The platform provides cost-free options for depositing and withdrawing funds.
- Comprehensive Research Tools: Access to powerful research tools for informed trading decisions.
- Interest on Deposits: Traders receive interest on their deposits, boosting their potential returns.
- Market Analysis and Tools: A range of market analysis tools enhances the trading experience.
- High Leverage: Avatrade offers high-leverage options for more flexible trading.
8. Pepperstone – The Leading Bitcoin Forex Brokers Of 2024
Since its establishment in 2010, Pepperstone Group has emerged as a prominent player in the online brokerage industry. They have crafted a highly competitive and comprehensive trading platform that encompasses forex, shares, indices, metals, commodities, and even cryptocurrencies.
Pepperstone provides access to an expanding array of tradable markets, offers high-quality research resources, and supports multiple social copy trading platforms. It has garnered a strong reputation in the FX broker industry.
Pepperstone boasts a full suite of MetaTrader platforms (MT4 and MT5) by MetaQuotes Software Corporation, as well as the cTrader platform developed by Spotware Systems. These platforms are available on desktop and web, in addition to the popular TradingView platform.
Unique Features Of Pepperstone Brokers
Pepperstone provides a valuable feature for beginners in the form of Capitalise.ai, a code-free automation tool that identifies trading opportunities by analyzing the market and alerting traders to potential setups. Alternatively, novice traders can engage in social trading to replicate the trades of experienced professionals.
For Bitcoin trading on this platform, there is a $30 spread fee, making Pepperstone one of the most cost-effective Bitcoin brokers. The recommended minimum deposit stands at AUD$200, equivalent to US $100.
While Pepperstone offers “negative balance protection,” it is available only to its U.K. clients. This feature has gained significance in recent years, likely triggered by the SNB event of January 15, 2015, which caused turmoil in the markets, particularly in the highly leveraged retail FX sector.
Why Pepperstone?
If you’re comfortable with MetaTrader platforms and seek a hassle-free account opening and funding process, Pepperstone is an excellent choice.
Pepperstone stands out by offering separate platforms for both novice and experienced traders. Professional clients enjoy their dedicated platform, granting access to higher leverage, exclusive account features, and the Active Traders program.
Even if traders don’t opt for the professional client account, they can choose from platforms like cTrader, MetaTrader 4, and MetaTrader 5. Pepperstone also allows traders to connect to TradingView.
Regulated by the Financial Conduct Authority (FCA #684312), one of the UK’s primary regulatory agencies with a strong global reputation for stringent oversight, Pepperstone ensures fair market practices for individuals and businesses. Being regulated by such a reputable government-backed agency greatly bolsters the firm’s credibility.
Platform Overview
| Number of cryptos | Access to over 30+ digital currencies |
| Minimum deposit | Requires $140 |
| Price for trading BTC | Charges $30 |
| Key features |
|
Features We Like
- Low Bitcoin Spread: Pepperstone offers competitive spreads for Bitcoin trading.
- Code-Free Automation Tool: The platform provides Capitalise.ai, an automation tool for trading without coding.
- Professional Client Account: Pepperstone offers a dedicated account for professional clients with enhanced features.
- Competitive FX Spreads: The platform boasts very competitive spreads in the forex market.
- User-Friendly Interfaces: Pepperstone offers a variety of user interfaces to cater to different trading preferences.
9. IG – The Bitcoin Forex Broker With A User-friendly Trading Platform
IG stands out as one of the best Bitcoin forex brokers, providing traders with access to a wide array of strategies, including algorithmic trading and trading signals. The platform offers flexibility with a choice of MetaTrader 4, mobile trading, and Pro-Real Time, a web-based charting package equipped with automated trading capabilities.
IG delivers a comprehensive trading experience, encompassing top-notch trading and research tools, industry-leading educational resources, and a vast selection of tradable markets.
Unique Features Of IG Brokers
Beginners have the opportunity to ease into trading without immediate deposits by using IG’s demo account. The platform offers a free learning center on its website, providing guides on trading and platform usage.
Traders can also participate in webinars for further education. IG maintains a transparent fee structure, with all trading fees openly published. Comparative assessments of IG Markets’ accounts were conducted to evaluate costs against other Forex brokers.
To go live, traders can deposit a minimum of $300 using a credit card. There is no minimum deposit requirement for accounts funded via bank wire. Bitcoin trading on this platform incurs a spread fee of $90. Withdrawals are free, but inactivity fees are applicable. Traders who remain inactive for more than 24 months are subject to a monthly inactivity fee of $18.
IG offers proprietary mobile apps for iOS and Android, compatible with tablets as well. These apps provide essential features such as customizable watchlists, price alerts, and technical charting tools.
Why IG?
IG is one of the best Bitcoin forex brokers that boasts an impressive array of features, ensuring traders have the flexibility to use the platform to their liking. It provides a comprehensive suite of trading and research tools, including integrated risk management models. Setting up a customized layout takes just about 20 minutes, and users can save these layouts for easy access.
Notably, IG doesn’t impose commissions on deposit or withdrawal fees. However, an inactivity fee of $12 per month is applicable, but this is only charged after two years of inactivity.
Opening an account with IG is a straightforward process. The broker gathers information about the trader’s current income, trading experience, share dealing experience, and savings. It also asks questions related to foreign exchange to ensure traders are on the right track when trading with IG.
Platform Overview
| Number of cryptos | Access to 10 digital currencies |
| Minimum deposit | Does not require minimum deposit |
| Price for trading BTC | Charges $90 |
| Key features |
|
Features We Like
- No Minimum Deposit: IG doesn’t require a minimum deposit, making it accessible to all traders.
- Trade Alerts: The platform offers trade alerts to keep users informed.
- Free Withdrawals: Withdrawals are free of charge, reducing transaction costs.
- No Withdrawal Fee: IG doesn’t impose withdrawal fees, enhancing user convenience.
- Inactivity Fee After 2 Years: The inactivity fee is only charged if an account remains inactive for more than two years, allowing flexibility for occasional traders.
10. XM – The Global Bitcoin Forex Brokers That Offers Deposit Bonus
XM is one of the best Bitcoin forex brokers of 2024 that also offers Bitcoin trading. They entice customers with a $30 sign-up bonus and a 50% deposit bonus, up to $500. Deposits up to $4,500 receive a 20% bonus. The broker caters to over 3 million customers across 190 countries and boasts robust regulation by top-tier bodies like CySEC, FSC, DFSA, and ASIC.
XM Group exclusively uses MetaTrader and stands out for its extensive, top-quality educational resources and market research.
Unique Features Of XM Brokers
XM offers a loyalty program with invite-only bonuses, adding to its appeal. New traders can practice using XM’s demo account before trading cryptocurrencies. For Bitcoin trading with XM, a mere $5 deposit is required to begin. The platform provides a minimum Bitcoin spread of $24 and offers access to over 30 cryptocurrency pairs, allowing for leverage of up to 1:250.
XM Trading is a reputable and rapidly expanding brokerage firm that has received favorable feedback from its clients. It provides a diverse selection of trading instruments and various account options to choose from.
Why XM Is The Best Bitcoin Forex Brokers Of 2024?
XM is a globally renowned broker with a strong reputation, making it an excellent choice for Bitcoin forex trading. They offer four trading accounts, with three requiring a minimum deposit of just $5 and no commissions for Forex trading. Notably, the commission-free Ultra Low Account features spreads starting at 0.6 pips (EUR/USD).
XM prioritizes the safety of your funds and offers comprehensive protection measures, including global negative balance protection. This safeguard ensures you can never lose more than the amount you’ve deposited into your trading account.
Platform Overview
| Number of cryptos | Access to over 30+ pairs |
| Minimum deposit | Requires $5 |
| Price for trading BTC | Charges $24 minimum |
| Key features |
|
Features We Like
- Low Minimum Deposit: XM requires a low minimum deposit to start trading.
- Deposit Bonuses: The platform offers deposit bonuses, enhancing your trading capital.
- Leverage of 1:250: XM provides leverage of up to 1:250, allowing for flexible trading.
- Demo Account: Traders can practice and familiarize themselves with the platform through XM’s demo account.
Comparing The Bitcoin Forex Brokers
By now you might be familiar with some of the best Bitcoin forex brokers of 2024. Here’s a quick glimpse at these top 10 platforms and a comparison of their features, minimum requirements, and the number of assets available.
| Brokers | Number of Cryptos Available | Minimum Deposit | Price for Trading BTC | Key Features |
| eToro | Over 79+ | Requires $10 | Charges 1% + spread |
|
| Capital.com | Over 450+ | Requires $20 | Charges $66 |
|
| XTB | Over 10+ | Does not require minimum deposit | Charges $66.1 |
|
| Markets.com | 19 digital currencies | Requires $100 | Charges $50 |
|
| XM | Over 30+ pairs | Requires $100 | Charges $50 |
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| Libertex | Over 70+ | Requires $100 | Spread |
|
| AvaTrade | 13 digital currencies | Requires $100 | Charges $40 |
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| Pepperstone | Over 30+ | Requires $140 | Charges $30 |
|
| IG | 10 digital currencies | Do not require minimum deposit | Charges $90 |
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| Tickmill | 8 digital currencies | Requires $100 | Charges $25 |
|
Why Trade Bitcoin?
Now you would be almost familiar with some of the best Bitcoin forex brokers of 2024. Let’s see why trading Bitcoin is beneficial compared to other cryptos.
Trading Bitcoin offers an array of compelling advantages. Firstly, it has demonstrated the potential for high returns over its price history, making it an attractive asset for profit-seeking traders. Secondly, the cryptocurrency market operates 24/7, granting traders the flexibility to engage at any time, aligning with various schedules.
Bitcoin can function as a hedge against traditional financial assets like stocks and bonds. Its decentralization, free from central bank influence, reduces exposure to monetary policy changes. Furthermore, trading Bitcoin allows active participation in the cutting-edge blockchain and cryptocurrency ecosystem. Lastly, its global accessibility ensures that individuals worldwide can partake in this dynamic market, irrespective of their geographic location.
Although it offers significant profit potential, its inherent volatility comes with substantial risks. It’s crucial to never invest more than you can afford to lose, a principle applicable to cryptocurrency trading as well.
How To Trade Bitcoin?
Before we dive into the factors to consider before choosing any Bitcoin forex broker. Let’s quickly take a glimpse at the best ways to buy Bitcoin. There are three primary ways to buy and sell cryptocurrencies like Bitcoin:
Buy Bitcoin
Purchase actual Bitcoin from an online exchange like eToro. The broker holds and secures your Bitcoin in a digital wallet provided by them or allows you to transfer it to your own wallet.
Trade Bitcoin CFD
Trade bitcoin through CFDs, which doesn’t involve owning the actual bitcoin. Instead, you speculate on whether Bitcoin’s price will rise or fall. CFDs allow short-selling if you anticipate a price drop. However, holding CFDs long-term can be costly due to overnight fees.
Buy Exchange-Traded Products (ETPs)
ETPs are securities that can take various forms, such as ETFs (Exchange Traded Funds) or ETNs (Exchange Traded Notes). These products aim to mirror the price movement of Bitcoin, offering a way to invest in Bitcoin indirectly.
Each method has its own advantages and considerations, so it’s essential to choose the one that aligns with your investment goals and risk tolerance.
75% of retail investor accounts lose money when trading CFDs with this provider.
How To Choose The Best Bitcoin Forex Brokers
In the world of cryptocurrency, picking the best brokers to trade Bitcoin is vital. With many choices, you need to think carefully. When searching for the best Bitcoin broker, you must consider several factors.
Keep in mind that your choice should match your trading goals, how much risk you’re comfortable with, and your level of experience. It’s a good idea to begin with a small deposit or a demo account to try out the broker’s services before investing a substantial amount of money.
These are some of the key features to consider while choosing the best Bitcoin forex brokers of 2024.
Regulatory Compliance
The first step in choosing a forex broker is to assess their reputation. In the United States, a trustworthy forex broker should be a member of the National Futures Association (NFA), which oversees the futures industry. Additionally, they should be registered with the Commodity Futures Trading Commission (CFTC), the regulator for U.S. commodity futures and options markets. These credentials ensure the broker’s reliability and adherence to industry standards.
Trading Fees
On a Bitcoin trading platform, your primary activity is trading. Therefore, it’s essential to pay close attention to trading fees. It’s important to ensure that the fees charged are reasonable and in line with industry norms. Keeping trading costs in check is vital for your overall profitability and success in the cryptocurrency market.
These fees can significantly impact your overall profitability. When assessing trading fees, look at factors such as spreads, commissions, overnight financing costs (swap fees), and any other charges associated with trading Bitcoin.
Deposit and Withdrawal Limits
The next factor to consider for choosing the top-rated Bitcoin forex brokers of 2024 is deposits and withdrawals. In online trading, you’ll need to deposit and eventually withdraw your funds. Each forex broker has its own policies for account funding and withdrawals.
These Bitcoin forex brokers typically offer various payment options, including credit cards, ACH payments, PayPal, wire transfers, and checks (both bank and personal).
It’s essential to review these payment options, along with withdrawal fees, deposit limits, and other details, to prevent any unexpected losses during your trading journey. Additionally, reputable Bitcoin brokers often provide trading guides to help novice and inexperienced retail investors get started with confidence.
The Availability Of A Demo Account
Having a reliable demo trading option is essential in today’s cryptocurrency trading landscape. Cryptocurrency trading can involve complex scenarios, and if you’re new to this field, making timely decisions can be challenging.
Without proper practice, you may incur significant losses. A demo account allows you to hone your trading skills without risking real money, helping you gain the experience and confidence needed to navigate the cryptocurrency market effectively.
Asset Selection
While Bitcoin remains a central focus, having access to a diverse selection of cryptocurrencies can be highly beneficial. Seek out brokers that offer a wide range of digital assets, enabling you to diversify your investment portfolio and take advantage of emerging opportunities within the cryptocurrency market.
Traders value options, so we specifically sought out brokers that provide a variety of cryptocurrencies. While some brokers may prioritize specific crypto pairs, it’s essential that they also offer the BTC/USD pair. Ensure that the broker provides an extensive array of cryptocurrency assets beyond just Bitcoin. A diverse selection gives you the flexibility to diversify your portfolio effectively.
Payment Methods Available
When starting Bitcoin trading through a broker, it’s crucial to examine the available payment methods. Various platforms offer different payment options, and you must select one that aligns with your requirements and preferences. The right choice of payment method ensures smooth and convenient transactions throughout your trading experience.
Tools and Analysis
Yet another significant factor to consider for choosing the top Bitcoin forex broker is the availability of advanced tools and analysis.
Beginner traders seek user-friendly platforms for easy trade execution, while experienced traders demand advanced tools to enhance their technical analysis. Our search focused on finding trading platforms that cater to traders of all skill levels, ensuring that both novices and experts have access to the tools and features they need to succeed.
Key Account Features
Key account features are essential considerations when selecting a forex broker. These features include social trading features and the availability of trading platforms. By examining these aspects, traders can make informed decisions and choose a broker that aligns with their trading objectives and preferences.
Commissions and Spreads
Commissions and spreads are critical factors to assess when evaluating a forex broker. Spreads represent the difference between the buying and selling prices of a currency pair. Commissions refer to the fees charged by the broker for executing trades. Traders should carefully consider these costs as they directly impact the overall expense of trading and can vary significantly among different brokers. A transparent and competitive fee structure can enhance a trader’s profitability.
Credibility, Reliability, and Experience
In the world of cryptocurrency trading, the market is relatively new, but that doesn’t mean all brokers lack experience. Some brokers are both trustworthy and experienced. They possess the proper qualifications, such as licenses from well-known and respected regulatory authorities, as well as a team of skilled professionals.
Minimum Deposit Requirement
You can start a forex trading account with a small initial deposit, sometimes as low as $50. Thanks to leverage, you can control larger positions than your deposit, making forex trading appealing to newcomers. Brokers typically offer standard, mini, and micro accounts, each with different initial deposit requirements. It is always advised to check the minimum deposit requirement before choosing your preferred Bitcoin forex brokers.
Availability Of Mobile App
Mobile trading is becoming more and more popular because it’s convenient and flexible. Traders want to be able to stay updated on their open positions even when they’re away from their computers. That’s why they prefer user-friendly mobile apps that offer the same essential features as the desktop platform.
Solid Financial Background Of Crypto Brokers
It’s important to choose a crypto broker with a strong financial background. You don’t want a broker whose financial resources are as limited as your investment. A reputable crypto broker should have a substantial capital base of their own. This ensures the safety of your cryptocurrency and reduces the risk of the broker going bankrupt.
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Conclusion – Bitcoin Forex Brokers
Cryptocurrency trading within the Forex market is a growing trend expected to see stable growth in the next five years. The choice of the best Bitcoin broker should be based on your unique preferences and requirements.
While there are several reputable Bitcoin forex brokers available, some essential factors should always be considered. It’s crucial to select a trusted platform with a strong reputation, positive user reviews, and transparency, as you’ll be entrusting them with your funds.
The Bitcoin forex brokers mentioned above are well-established and reliable trading platforms. With years of experience and a stellar reputation in the market, they have positioned themselves as the leading Bitcoin forex brokers of 2024.
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FAQs Best Bitcoin Forex Platforms
Where can I trade BTC/USD forex?
You can trade BTC/USD forex on several regulated brokers, including Capital.com, eToro, XTB, and Libertex. Each of these brokers offers Bitcoin trading with various benefits and features. It's essential to review each one to determine which best suits your trading needs and preferences.
What is the best Bitcoin broker for beginners in 2024?
The best broker for beginners should prioritize user-friendliness, provide ample educational resources, and offer responsive customer support. Additionally, it's essential to consider brokers with low fees and the availability of a demo account for practice. These factors can help new traders get started on the right foot and build their trading skills with confidence.
Is regulation important when choosing a Bitcoin broker in 2024?
Yes, regulation plays a critical role in safeguarding your funds when trading. It's recommended to select a broker that is regulated by reputable authorities, as they typically adhere to stringent security and compliance standards, providing an added layer of protection for your investments.
How can I assess a Bitcoin broker's reputation and reliability in 2024?
Reading online reviews and participating in forum discussions can provide valuable insights into other traders' experiences with a broker. A strong reputation and a history of reliability are crucial factors to consider when choosing a broker, as they can help you gauge the broker's trustworthiness and performance.
Can I use a Bitcoin broker's mobile app for trading?
Many brokers provide mobile trading apps that allow you to trade on the go. It's important to ensure that the app is compatible with your device and offers the essential features you need for mobile trading.
Which forex broker has the most crypto pairs?
Capital.com provides access to a wide range of cryptocurrency pairs, offering traders the opportunity to explore more than 450 crypto pairs.
What is the legal process of cryptocurrency trading on Forex?
In the Forex market, the ownership of cryptocurrency is not physically transferred; instead, traders engage in trading through Contracts for Difference (CFDs).
Is Bitcoin Forex safe?
Bitcoin forex trading carries risks, and safety depends on factors like broker choice, market volatility, and risk management.