The Best Bitcoin + Cryptocurrency Trading Platforms

Trading on CFD/Forex Sites Vs. Bitcoin Exchanges

Bitcoin has been growing in popularity on a global scale. It's still relatively new by most standards. Forex, on the other hand, is well known and has been around for a long time. Bitcoin's are a cryptocurrency, a form of digitally stored value.  Forex, on the other hand, is a foreign currency exchange platform, where individuals gauge where they can create the most profits by trading foreign currencies.

Another significant difference between Bitcoin and Forex is that Bitcoin is an alternative currency that can be used to purchase goods and services. Bitcoin is great for traders looking to grow long-term accounts and make massive returns. It's a highly volatile platform in which loss and gains can happen very rapidly. It's not uncommon for Bitcoin to drop or raise a few thousand dollars per coin in a single day. BTC also has a genuine potential for becoming a worldwide currency once it stabilizes. There are more and more people rushing to invest in Bitcoin and several other cryptocurrencies as well.

Whether Bitcoin will be the absolute future of money or not isn't the question here, however. It's an impressive technology that some of the best traders in the world are getting their hands into. Traders of Bitcoin can get involved in a couple of ways.

The Best Cryptocurrency Brokers + Trading Platforms

Our Rating Description Minimum Deposit Regulation Visit
5
  • The leading Social Trading platform with 4.5m traders
  • Follow other traders or be a leader
  • Personal service and VIP perks

$200

FCA, CySec, ASIC

Visit Broker
eToro Review
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% 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.
5
  • Free forex signals + market research
  • Online education and webinars
  • Fee free withdrawals and deposits

$5

CySEC, FSP, ASIC

Visit Broker
XM Review
Risk Warning: Your capital may be at risk
5
  • No commissions and low spreads
  • Advanced trading tools
  • Minimal account fees

€100

FCA, CySec :

Visit Broker
Plus500 Review
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.6% 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.
4.5
  • Stylish & Powerful Platform
  • Trade Bitcoin + 12 Other Top Cryptocurrencies
  • Plus Forex, Options, Stocks & ETF Trading

$10

CySec

Visit Broker
IQOption Review
Risk Warning: Your capital may be at risk
4
  • Choice of two professional trading platforms – TraderPro and MT4
  • Free trading course for deposits over £1,000
  • Choice of Forex, CFDs, Spread Betting and Cryptocurrencies

€100

FCA

Visit Broker
ETX Capital Review
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.6% 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.
4
  • Tight spreads without commissions
  • Advanced charting tools

$100

CySec

Visit Broker
Markets.com Review
Spread bets and CFDs 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.
2

10

Visit Broker
OLYMP TRADE Review
Risk Warning: Your capital may be at risk

One is on a cryptocurrency exchange the other is through an online forex broker. People will argue for exchanges or Forex brokers. There are good and bad reasons to use both. On a cryptocurrency exchange, you buy actual Bitcoins, and through a forex broker, it's a little different. Instead of purchasing Bitcoin directly, you trade a Bitcoin CFD or contract of difference. A lot of people will argue that forex is better for the sake of simplicity and regulation. On Forex, everything is regulated and operated with strict professionalism. They keep all your funds stored in segregated bank accounts. On cryptocurrency exchanges, however, there is limited protection, and they are entirely unregulated. So, if a trade goes down, you can lose everything.

Some people will say it’s difficult to set up a cryptocurrency account. Getting started is a process, but it’s like that with anything worth doing. The first thing you’ll need to do is find an exchange that can be operated from within your country. And then, there will need to be a way to deposit funds into the account as well. Some traders even open separate bank accounts for the sake of trading, which is a good call for most people.

Most people who trade cryptocurrency will have several different bank accounts operating for various exchanges. Each account is used for a specific reason. With Forex, however, you can set up an account in a matter of minutes. You can deposit currency into the account and start trading right away. Any trades you make with Bitcoin will then be automatically changed to your local currency.

What to Look For

·       Transaction Fees

With forex, fees are minimal. It’s free to open an account and to deposit/withdraw your funds. There are also no commissions made on Bitcoin trades. The only expense comes from the spread. It makes it easier to trade fast and manage your funds. But on an exchange, there are fees constantly. They can charge for everything that a forex broker won’t. They can be costly and make it difficult to trade altogether.

·       Speed of Execution

You'll be able to make exchanges on forex quickly. And you'll have instant access to several different professional tools. There are a ton of tools when doing it yourself or using an exchange as well, but you'll likely have to spend some more time getting used to them or finding them in the first place. However, a forex broker also has a huge benefit. You can access to leverage a margin; then you can trade any amount you want. You'll be able to trade short and long-term with Bitcoin as well to capitalize on any trends that are occurring. The main thing is if you already area forex trader, then using it for Bitcoin makes sense. You can trade your forex and Bitcoin at the same time from one single platform.

Reliable Bitcoin Exchanges

If you decide to use exchanges instead of forex brokers, there are some great exchanges you can benefit from using. Coinbase is probably one of the largest exchanges for cryptocurrency. Another great one is Kraken, it was founded in 2011 and has a lot of beneficial reasons to use it. These are just a couple of the endless cryptocurrency exchanges on the market.

Undefined

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Risk Warning

Your capital is at risk. Trading in Forex and Contracts for Difference (CFDs) is highly speculative and involves a significant risk of loss.  The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. This website is provided for informational purposes only and in no way constitutes financial advice. A featured listing does not constitute a recommendation or endorsement.

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