Our research found that eToro offers the most cryptocurrency pairs to trade. With eToro, investors can buy and sell bitcoin as the underlying asset , trade crypto CFDs, and even copy trade other investors. After eToro, other crypto brokers that offer dozens of cryptocurrency CFDs to choose from include XTB and HYCM. Among brokers offering bitcoin underlying, Swissquote , regulated as a Swiss bank, is the safest broker.

Founded in , Swissquote is publicly traded SIX: SQN and regulated in four tier-1 jurisdictions. After Swissquote, eToro is another safe crypto exchange that uses multi-signature schemes a form of cryptography to help protect the crypto that it holds as a custodian. eToro's U. entity is regulated in 47 states as a Money Services Business MSB with the Financial Crimes Enforcement Network FinCEN , whereas its EU entity eToroX is licensed by the Gibraltar Financial Services Commission GFSC.

While Coinbase and Binance both offer entry-level pricing, Binance is cheaper with just 0. Binance and Coinbase are the largest cryptocurrency exchanges globally. In terms of fees for active traders, Coinbase only outranks Binance when you compare the highest tiers offered by each broker.

The price gains were mostly attributed to new institutional investors entering the market and buying bitcoin. I first wrote about cryptocurrencies in when bitcoin was still a novelty.

According to data from Coinmarketcap , the price of bitcoin can fluctuate widely across various trading venues, although in recent years the cryptocurrency markets have become more efficient — despite the high volatility. Despite the potential for large gains, buying bitcoin remains risky. The main risk is significant volatility price swings. If you buy bitcoin and then the price plummets, you can sustain substantial losses.

Adding any leverage trading with borrowed money will only further increase your risk when buying bitcoin. Also, bitcoin remains a complex financial product. Many investors have lost money simply by losing their private keys, whether through exchange hacks or because they did not secure them properly in self-hosted wallets. Using a regulated, reputable broker is essential for safely trading bitcoin.

To avoid scams, you should only use regulated bitcoin brokers. To verify a broker's regulatory status, start by determining the broker's legal name and country, and then find the appropriate regulator website to look them up. For example, a broker in the U. must be authorized and regulated by the Financial Conduct Authority FCA.

Here at ForexBrokers. com, we track, rate, and rank brokers across 20 international regulators. To speculate that bitcoin's price will fall, you must open a forex brokerage account with a broker that offers bitcoin CFDs, or contracts for difference.

Using a CFD, you can open a sell order bet the price will go down and then place your trade. To make a profit, the price of bitcoin must fall. If bitcoin rises in price, you will lose money.

If CFDs are not available, using a futures or options contract can be an alternative way to bet against bitcoin. However, bitcoin futures and options are very complex instruments, not widely available, and should only be traded by professionals. If you are a long-term cryptocurrency investor, buying the underlying physical bitcoin is the safest and lowest-cost way to invest in bitcoin. For more active, short-term trading, Contracts for Difference CFDs might be your best option.

Just remember: CFDs are not ideal for holding long-term positions months or years , as the financing charges will add up over time. In some jurisdictions, cryptocurrency is banned or illegal to purchase, trade, or own. Meanwhile, in other countries, it is perfectly legal. For example, in the United States U. and the United Kingdom U. However, CFDs are illegal to trade in both countries.

The U. ban on bitcoin CFDs went into effect on Jan. If you do not want to keep your bitcoin with your online broker, you'll need to store it safely. To secure your bitcoin, you must choose a hot online or cold self-hosted offline wallet. Note: safeguarding cryptocurrencies in your own self-custody wallet comes with its own risks and responsibilities. Just like having cash in your pocket, it must be secured properly. Personally, for a hot wallet online, internet-connected , I use Blockchain.

com , which provides a mobile and web-based version. For cold storage, I use Ledger , a hardware device that allows you to keep the bitcoin private key offline. When you keep your private key offline, you'll need to create a written backup recovery phrase — a critical step to safeguard your bitcoin in the event that you lose your hardware device. Yes, always use a trusted and highly-regulated bitcoin broker to buy bitcoin.

Using a regulated broker will help you protect yourself from scams and keep your bitcoin secure. To avoid scams, never buy bitcoin from someone directly or from a third-party website or marketplace that is not properly regulated. For cryptocurrency that you do control, never share your seed phrase recovery phrase or private keys with anyone this is the equivalent of giving them your money.

Here are the Overall rankings for the 39 online brokers who participated in our Annual Review, sorted by Overall ranking. Was this helpful? Yes or No. At ForexBrokers. com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers.

Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies click here to learn about how we calculate Trust Score. Our research team thoroughly tests the most important cryptocurrency features and services offered by online brokers. We also test any crypto-specific trading tools or resources, and we research any and all trading costs, spreads, and crypto-specific fees such as when converting crypto to crypto.

We test cryptocurrency services across a variety of platforms and devices; all websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running macOS Ultimately, our rigorous data validation process yields an error rate of less than.

Click here to learn more about how we test. There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks. Steven Hatzakis is the Global Director of Research for ForexBrokers. Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry.

A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U. as a Commodity Trading Advisor CTA. Blain Reinkensmeyer has 20 years of trading experience with over 2, trades placed during that time. He heads research for all U. com and is respected by executives as the leading expert covering the online broker industry. John Bringans is the Senior Editor of ForexBrokers.

An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years.

An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. com is committed to the highest ethical standards and reviews services independently. Learn How We Make Money. Home Forex Guides Directory. October 13, Pros Large number of investors to copy Extensive range of markets to trade User-friendly platforms and app Cons No automated trading strategies Stops, limits mandatory on trades Research trails competitors.

Pros Good variety of written articles Offers over cryptocurrency CFDs Cons Only 45 forex pairs available Research and educational content are lacking. Pros High-quality educational articles and courses Newsroom-grade research articles Offers over crypto CFDs Cons MetaTrader 5 not available Respectable range of tradeable symbols, but fewer than industry leaders.

Pros Early leader in crypto offerings Strong banking services High-quality research Cons Desktop platform needs updating Limited tradeable symbols for forex and CFDs Costs tend to be on the high side. Pros Robust platform for professional traders Wide range of global markets Thorough research offering Cons Trader Workstation platform is likely too complicated for inexperienced traders. Pros Flagship platform is top of the line Over 40, tradeable instruments Excellent customer service Cons High minimum deposit.

Pros AvaOptions app is an excellent forex options mobile trading platform Offers 44 forex options and over 1, CFDs Cons Pricing for retail accounts is average, but trails industry leaders Desktop platform is slow to load, has outdated design. How do you buy bitcoin? There are three primary ways to buy and sell cryptocurrencies like bitcoin: Buy bitcoin the underlying asset - The most common way to buy bitcoin is to buy physical bitcoin from an online bitcoin exchange such as eToro.

Your bitcoin is then held and secured in a digital wallet provided by the broker or you can withdraw it to the wallet of your choice. It remains the responsibility of the Bitcoin owner to ensure that they keep their funds safe despite the measures that brokers and exchanges employ to ensure security. There are a few tips that traders can use to keep their Bitcoin wallet safe, including, but not limited to:.

The value of Bitcoin can be attributed to a variety of factors. It was the first decentralized digital currency that was created and launched, which is one of the main reasons why it is so valuable, in addition to the fact that it cannot be controlled by any person, organization, or authority. Bitcoin can be exchanged in a variety of ways and Bitcoin owners cannot be told what they should do with their Bitcoin or how they need to spend, invest, save, or trade it.

There is no dictatorship involved in Bitcoin and oppression and hyperinflation cannot be factored into Bitcoin. It is also a haven for people who live under such extreme circumstances. Bitcoin is also limited with a supply of 21 million in total, and this number will never change. There is also transparent knowledge of how many Bitcoins are released into circulation along with the rate at which they are released. There is also knowledge of when the very last Bitcoin is set to be created and released into circulation.

This type of transparency exists only in cryptocurrency and it is another major reason why Bitcoin is so valuable. Bitcoin also holds a substantial amount of leverage over paper money, or fiat currencies, as paper money is controlled by central banks, which leaves a lot of room for problems such as governmental control over monetary systems through various policies and processes. Monetary systems are strictly controlled and manipulated not only in the supply of money but also by the fact that the value of money is backed by the word of governments.

This, amidst several other controversial issues, is also considered when weighing the value of Bitcoin. There is a unique design attributed to Bitcoin and it is poised to have a significant impact on the lives of people, even if they live in unstable economies where monetary systems are greatly manipulated by their governments.

Fiat currency will not simply fall away, even when considering that cryptocurrency is more widely accepted now than even just a few years ago. Monetary systems still serve substantial importance, and it has been used through the ages and remains stable grounds for both exchange and trade.

Fiat currency is heavily affected and impacted by inflation whereas Bitcoin is not. This, amidst numerous other differences, show that Bitcoin, although not a leading currency, is becoming a strong contender between the two in paving the way towards a more digitized monetary system. The simplest of answers is that Bitcoin, as with numerous other financial instruments, can be traded as a way to make a profit. There is a substantial amount of stigma which surrounds Bitcoin and how profits can be generated from the exchange or trade in it.

This is due to the common belief that profit can only be made by trading major currencies. However, this has changed substantially in recent years and numerous traders have started embracing cross pairs in forex trading. There are a lot of successful traders who advocate that, to make a profit, the focus should not only be placed on the major pairs or a single currency pair but that traders should instead diversify their portfolios.

Also, more traders have started embracing the cross pairs and exotics due to the high level of volatility associated with them. When utilizing the right strategy, which harnesses the volatility in the market, there is a lot of profit that can be made. However, volatility is not the only reason why traders should consider trading Bitcoin. Other reasons include:. There are but some reasons why traders should consider trading Bitcoin.

Regardless of the ease with which the cryptocurrency market can be accessed, and Bitcoin can be traded, traders must understand that some fundamental knowledge, skill, and experience are needed to start trading.

Before delving into how Bitcoins are created, it is important to understand that the Bitcoin network is secured by miners who mine Bitcoins and process all transactions executed in Bitcoin. Without these miners, the network would become vulnerable to attack and it would subsequently become worthless. For the services, efforts, security, and processing services that the miners provide and perform, they are provided with Bitcoins as a reward in addition to payments from fees derived from transactions.

Every time that the proof of work algorithm of Bitcoin is solved by a miner, a block is mined and the miner, or the mining pool, responsible for the successful mining, is rewarded with a block reward. The block reward consists of a set number of Bitcoins which is predetermined by the network. The Bitcoins contained in the block reward are new Bitcoins that are created or released into circulation.

The block reward initially consisted of 50 Bitcoins, or BTC, per block. The block halves with every , blocks mined. This means that every block until , will have rewarded 50 BTC but thereafter, from ,, for instance, the reward would halve. There is a certain level of difficulty involved when mining Bitcoin and this ensures that Bitcoin blocks are only found on an average of 10 minutes.

When considering the halving after every , blocks, it means that halving occurs roughly every four years. There are therefore new Bitcoins generated and released into circulation every 10 minutes. With the block halving set for every , blocks, the rewards will become so small that no more Bitcoins would be created.

There are a variety of ways in which Bitcoins can be obtained due to their increasing popularity. This includes the following:. Traders who would like to trade Bitcoin through a broker must first choose one which suits their unique trading needs and objectives.

It is imperative to consider several factors when evaluating a broker such as regulation, range of assets, type of accounts and their features, fees and commissions, deposit and withdrawal methods, and more. When choosing a broker, it is important to select one which has regulation and authorization through reputable regulatory entities as this ensures client fund security.

These brokers are also required to follow strict rules, regulations, and processes. When looking at a broker to facilitate the trade-in Bitcoin especially, traders must consider some of the following factors:.

When considering that there is no singular or official exchange provided through which Bitcoin can be traded, exchanged, bought, or sold, there is a variety of exchanges that cater for the exchange of Bitcoin. One important characteristic of Bitcoin is that it can be used as a method of payment. It is therefore important to evaluate how Bitcoin weighs up against other payment methods. Bitcoin is becoming increasingly popular and when compared to other payment methods, Bitcoin has the following benefits and advantages:.

The official specification and proof of the concept were published by Satoshi Nakamoto in , although Wei Dai first described the concept of cryptocurrency in on a cypherpunks mailing list. In most jurisdictions, there are no legislations that prohibit Bitcoin, but there are some jurisdictions that restrict foreign currencies severely, or they are banned within these jurisdictions.

However, numerous brokers who offer a trade-in cryptocurrency have regulation and authorization along with some exchanges who may be regulated or at the very least licensed or registered with entities. Bitcoin is not a way to make a substantial amount of money in a short amount of time.

It does allow for some profits but there are still risks involved which may lead to substantial losses. Yes, but it is imperative to consider that the extent to which it is safe will depend on various factors, and despite the security features employed, there is a constant risk associated with cybersecurity threats where online activities are concerned.

When Bitcoins are lost, they remain on the blockchain, but they remain dormant forever as there is no way for the private key or keys to be found to allow for the coins to be spent again.

JP Markets offers a welcome bonus to all new traders who choose to register for a real account. JP Markets is considered a low-risk and can be summarized as trustworthy and reliable. JP Markets is regulated by the top-tier Financial Services Board, Based. Overall IW Bank offers numerous investment prospects for their clients, and allows them to invest in equities and bonds.

IW Bank clients may experience different fee structures according. com does not offer a sign-up bonus for first-time sign-ups or beginner traders. No sign-up bonus, deposit bonus, or welcome bonus is offered to traders. The Minimum Deposit for 1st-time traders might vary based on. com offers Spreads and commissions vary according to the account type that the trader is using. RSS Feed. Top 4 Brokers. Read Review. Open a Free Trading Account. Tiếng Việt. Czech Republic. Open a FREE Trading Account.

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Written by Steven Hatzakis , Blain Reinkensmeyer Edited by John Bringans Fact-checked by Joey Shadeck. The ForexBrokers. com annual forex broker review six years running is the most cited in the industry. With over 50, words of research across the site, we spend hundreds of hours testing forex brokers each year. Here's how we test. Now over 12 years old, bitcoin continues to grow and mature as an alternative asset, and is considered by many to be like a digital version of gold.

This guide explains what bitcoin is and how to buy it, and summarizes the best cryptocurrency brokers for trading bitcoin CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Bitcoin is a form of public internet money or electronic cash, known as cryptocurrency. It was launched in January after its design was published in a white paper. Bitcoin's supply is limited, and every bitcoin comes into existence through mining, where anyone from the public can verify transactions to help secure the network.

Bitcoin behaves very much like a commodity, due to its limited supply and because of the intense mining process. Bitcoin mining is akin to mining for gold, at least in the sense that it requires great effort and cost. However, bitcoin is far more efficient than gold in many ways, thanks to its use of blockchain technology , which means that all transactions are public and anyone can join the network.

Furthermore, bitcoin is highly resistant to any form of censorship, and forged transactions are impossible, thanks to the cryptographic primitives used in the bitcoin blockchain and in bitcoin wallets. Based on over different variables, here are the best forex brokers for buying cryptocurrency such as bitcoin.

Read full review. Eightcap is a MetaTrader-only broker that provides a suite of third-party plug-ins and an impressive crypto offering — delivering the largest number of crypto pairs out of 39 brokers evaluated for our annual review. com stands out for its quality research, strong educational content, and innovative web platform. With an extensive range of over cryptocurrency CFDs, Capital. com was selected Best in Class for Crypto in our annual review.

Swissquote was the first bank in the world to offer the ability to trade underlying cryptocurrency assets non-CFDs. As of our annual review, Swissquote offers a total of 23 popular cryptocurrencies and crypto-assets. Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets.

It delivers competitive fees and high-quality research, and offers crypto trading through its innovative Impact app.

Saxo Bank provides an immersive trading experience with brilliant research and a superb trading platform experience that now features crypto trading, as well as a stunning selection of over 40, securities including crypto derivatives.

Fees for buying bitcoin can become quite high across many of the websites and unregulated exchanges that are out there, which is why we suggest only using a regulated broker. The fees to trade bitcoin generally start at anywhere from 0. Brokers that charge a commission will usually have lower spreads, while commission-free brokers will have higher spreads to make up for the difference.

In other words, whether they come via spread or commission, bitcoin involves trading costs. Sometimes the fees also vary depending on whether you place a market order to fill at the current or next available price or if you use a limit order to fill at a specific price or better , the latter of which can sometimes be cheaper at exchanges such as Coinbase.

Bitcoin brokers enable you to buy or sell cryptocurrency. Without a broker, you cannot safely trade cryptocurrencies like bitcoin. To avoid scams, using a trusted broker is crucial when you are trading bitcoin. Traders who wish to purchase the underlying physical bitcoin will find that eToro is a great option, followed by Swissquote Bank and Interactive Brokers. For bitcoin CFD trading, which includes the ability to go long or short on bitcoin, we recommend forex brokers such as Eightcap , Capital.

com , Saxo Bank and AvaTrade due to their range of crypto assets as long as you are located outside of the U. Crypto CFDs cannot be traded in the U. residents due to regulatory restrictions unless you are designated a Professional Client. Click here to learn more. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. For example, Saxo Bank launched crypto trading for bitcoin as a spot forex contract, which behaves the same way as a CFD despite having a different legal distinction.

If you are looking to trade crypto on FOREX. com , crypto CFDs are available outside of the U. except in the U. If you just want to buy and hold cryptocurrency, Coinbase is an excellent choice.

Coinbase is trusted by nearly 70 million users and is highly regulated in the U. and other countries. That said, not all cryptocurrencies are supported or available in all regions, and if you are looking for access to more trading tools and the ability to trade in either direction long or short then a CFD or forex broker is your best bet.

Our research found that eToro offers the most cryptocurrency pairs to trade. With eToro, investors can buy and sell bitcoin as the underlying asset , trade crypto CFDs, and even copy trade other investors. After eToro, other crypto brokers that offer dozens of cryptocurrency CFDs to choose from include XTB and HYCM.

Among brokers offering bitcoin underlying, Swissquote , regulated as a Swiss bank, is the safest broker. Founded in , Swissquote is publicly traded SIX: SQN and regulated in four tier-1 jurisdictions.

After Swissquote, eToro is another safe crypto exchange that uses multi-signature schemes a form of cryptography to help protect the crypto that it holds as a custodian. eToro's U. entity is regulated in 47 states as a Money Services Business MSB with the Financial Crimes Enforcement Network FinCEN , whereas its EU entity eToroX is licensed by the Gibraltar Financial Services Commission GFSC. While Coinbase and Binance both offer entry-level pricing, Binance is cheaper with just 0.

Binance and Coinbase are the largest cryptocurrency exchanges globally. In terms of fees for active traders, Coinbase only outranks Binance when you compare the highest tiers offered by each broker. The price gains were mostly attributed to new institutional investors entering the market and buying bitcoin.

I first wrote about cryptocurrencies in when bitcoin was still a novelty. According to data from Coinmarketcap , the price of bitcoin can fluctuate widely across various trading venues, although in recent years the cryptocurrency markets have become more efficient — despite the high volatility. Despite the potential for large gains, buying bitcoin remains risky.

The main risk is significant volatility price swings. If you buy bitcoin and then the price plummets, you can sustain substantial losses. Adding any leverage trading with borrowed money will only further increase your risk when buying bitcoin. Also, bitcoin remains a complex financial product.

Many investors have lost money simply by losing their private keys, whether through exchange hacks or because they did not secure them properly in self-hosted wallets. Using a regulated, reputable broker is essential for safely trading bitcoin. To avoid scams, you should only use regulated bitcoin brokers.

To verify a broker's regulatory status, start by determining the broker's legal name and country, and then find the appropriate regulator website to look them up. For example, a broker in the U. must be authorized and regulated by the Financial Conduct Authority FCA. Here at ForexBrokers. com, we track, rate, and rank brokers across 20 international regulators. To speculate that bitcoin's price will fall, you must open a forex brokerage account with a broker that offers bitcoin CFDs, or contracts for difference.

Using a CFD, you can open a sell order bet the price will go down and then place your trade. To make a profit, the price of bitcoin must fall. If bitcoin rises in price, you will lose money. If CFDs are not available, using a futures or options contract can be an alternative way to bet against bitcoin. However, bitcoin futures and options are very complex instruments, not widely available, and should only be traded by professionals.

If you are a long-term cryptocurrency investor, buying the underlying physical bitcoin is the safest and lowest-cost way to invest in bitcoin.

For more active, short-term trading, Contracts for Difference CFDs might be your best option. Just remember: CFDs are not ideal for holding long-term positions months or years , as the financing charges will add up over time.

In some jurisdictions, cryptocurrency is banned or illegal to purchase, trade, or own. Meanwhile, in other countries, it is perfectly legal. For example, in the United States U. and the United Kingdom U. However, CFDs are illegal to trade in both countries. The U. ban on bitcoin CFDs went into effect on Jan.

If you do not want to keep your bitcoin with your online broker, you'll need to store it safely. To secure your bitcoin, you must choose a hot online or cold self-hosted offline wallet. Note: safeguarding cryptocurrencies in your own self-custody wallet comes with its own risks and responsibilities. Just like having cash in your pocket, it must be secured properly. Personally, for a hot wallet online, internet-connected , I use Blockchain. com , which provides a mobile and web-based version.

Brokers by License. To avoid scams, never buy bitcoin from someone directly or from a third-party website or marketplace that is not properly regulated. This cookie is set by GDPR Cookie Consent plugin. FCA Regulated UK ASIC Regulated AUS CySec Regulated Cyprus CFTC Forex Brokers USA CBN Regulated NG FSCA Regulated SA. Invest in Watches. Scam Forex Brokers Unregulated Forex Brokers.

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