Best Cryptocurrency CFD Brokers

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Minimum Deposit
$50
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TYPE OF BROKER

Market Maker/STP

REGULATED BY
ASIC ASIC
FCA FCA
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TRADING PLATFORMS
  • MetaTrader4
  • Trade Station
  • Ninja Trader
  • WebTrader
DEPOSIT METHODS
  • Visa
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  • Skrill
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  • Neteller
Trading Conditions
  • Max. Leverage : 400:1
  • Min. Spread : 1.3 pips
  • Currency Pairs : 39
Minimum Deposit
$200
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
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TYPE OF BROKER

Market Maker

REGULATED BY
CySEC CySEC
ASIC ASIC
TRADING PLATFORMS
  • eToro platform
DEPOSIT METHODS
  • Mastercard
  • Visa
  • UnionPay
  • Neteller
Trading Conditions
  • Max. Leverage : 400:1
  • Min. Spread : 2 pips
  • Currency Pairs : 47
Account Spread From Commission Execution Min. Deposit
Live 2 pips None Market $200 Account Details
Minimum Deposit
$200
TRADING INSTRUMENTS
  • Commodities
  • Forex
  • Cryptocurrencies
  • Stocks
  • Bonds
  • Indicies
  • Futures
TYPE OF BROKER

True ECN

REGULATED BY
ASIC ASIC
 CySEC CySEC
TRADING PLATFORMS
  • MetaTrader4
  • MetaTrader5
  • cTrader
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • UnionPay
  • Neteller
  • Skrill
  • Paypal
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 500:1
  • Min. Spread : 0.1 pips
  • Currency Pairs : 60
Account Spread From Commission Execution Min. Deposit
Standard - MetaTrader 1.0 pips None Market $200 Account Details
True ECN - cTrader 0.0 pips $3.00 Market $200 Account Details
True ECN - MetaTrader 0.0 pips $3.50 Market $200 Account Details
Minimum Deposit
$100
TRADING INSTRUMENTS
  • Forex
  • Commodities
  • Indices
  • Metals
  • Cryptocurrencies
  • Vanilla Options
TYPE OF BROKER

Market Maker

REGULATED BY
CySEC CySEC
ASIC ASIC
TRADING PLATFORMS
  • MetaTrader4
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Maestro
  • Neteller
  • Skrill
  • Bank Transfer
  • Astropay
Trading Conditions
  • Max. Leverage : 400:1
  • Min. Spread : 1.8 pips
  • Currency Pairs : 97
Minimum Deposit
$100
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • ETFs
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  • Stocks
TYPE OF BROKER

Market Maker

REGULATED BY
ASIC ASIC
TRADING PLATFORMS
  • Plus 500
DEPOSIT METHODS
  • Bank Transfer
  • Visa
  • Mastercard
  • Paypal
  • Skrill
Trading Conditions
  • Max. Leverage : 300:1
  • Min. Spread : 0.6 pips
  • Currency Pairs : N/A
Account Spread From Commission Execution Min. Deposit
Standard 0.0 pips None Instant $100 Account Details
Minimum Deposit
$200
TRADING INSTRUMENTS
  • Forex
  • Cryptocurrencies
  • Stocks
  • Indices
  • WTI
  • Bonds
  • Precious metals
TYPE OF BROKER

ECN/STP

REGULATED BY
ASIC ASIC
TRADING PLATFORMS
  • MetaTrader4
  • MetaTrader5
  • MetaTrader Supreme Edition
  • WebTrader
DEPOSIT METHODS
  • Bank Transfer
  • Visa
  • Mastercard
  • Skrill
  • Neteller
Trading Conditions
  • Max. Leverage : 500:1
  • Min. Spread : 0.1 pips
  • Currency Pairs : 40+
Account Spread From Commission Execution Min. Deposit
Admiral.Markets 0.5 pips None Market $200 Account Details
Admiral.MT5 0.5 pips None Market $200 Account Details
Admiral.Prime 0.0 pips $1.8 → $3.0 Market $200 Account Details
Minimum Deposit
$100
TRADING INSTRUMENTS
  • Forex
  • Stocks
  • Indices
  • Cryptocurrencies
  • Commodities
  • ETFs
TYPE OF BROKER

Market Maker

REGULATED BY
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
TRADING PLATFORMS
  • MetaTrader4
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Neteller
  • Skrill
  • PayPal
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 400:1
  • Min. Spread : 0.7 pips
  • Currency Pairs : 50+
Account Spread From Commission Execution Min. Deposit
Professional 1.3 pips None Instant $100 Account Details
Retail 1.3 pips None Instant $100 Account Details
Minimum Deposit
$5
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • Indices
  • Metals
  • Shares
  • Stocks
  • Energies
TYPE OF BROKER

Market Maker

REGULATED BY
CySEC CySEC
FCA FCA
ASIC ASIC
IFSC IFSC
TRADING PLATFORMS
  • MetaTrader4
  • MetaTrader5
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Maestro
  • UnionPay
  • Neteller
  • Skrill
  • Bitcoin
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 500:1
  • Min. Spread : 1 pips
  • Currency Pairs : 55+
Account Spread From Commission Execution Min. Deposit
Micro 1.0 pips None Instant $5 Account Details
Standard 1.0 pips None Instant $5 Account Details
XM Ultra Low 0.6 pips None Instant $50 Account Details
Minimum Deposit
$200
TRADING INSTRUMENTS
  • Commodities
  • Forex
  • Cryptocurrencies
  • Metals
  • Bonds
  • Indicies
  • Interest rates
TYPE OF BROKER

Market Maker

REGULATED BY
FCA FCA
 ASIC ASIC
TRADING PLATFORMS
  • MetaTrader4
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 200:1
  • Min. Spread : 0.5 pips
  • Currency Pairs : 84+
Account Spread From Commission Execution Min. Deposit
Professional 0.5 pips None Instant $200 Account Details
Standard 0.5 pips None Instant $200 Account Details
Minimum Deposit
$100
TRADING INSTRUMENTS
  • Forex
  • Commodities
  • Metals
  • Energies
  • Stocks
  • Crypto
  • Bonds
  • ETFs
  • Shares
  • Blends
TYPE OF BROKER

Market Maker

REGULATED BY
ASIC ASIC
TRADING PLATFORMS
  • MetaTrader4
  • MetaTrader5
  • WebTrader
DEPOSIT METHODS
  • Mastercard
  • Visa
  • Maestro
  • Neteller
  • Skrill
  • Paypal
  • Bank Transfer
Trading Conditions
  • Max. Leverage : 300:1
  • Min. Spread : 0.9 pips
  • Currency Pairs : 50+

What is Cryptocurrency CFD Trading?

Cryptocurrency CFD trading is much like other CFD trading, the difference being that the assets traded are cryptocurrencies, not Forex, commodities or equities.

The other major difference is that an established international CFD market for these other assets already exists, which means that traders can use DMA (Direct Market Access) brokers to open trading positions on the actual market.

As there is no established market for crypto CFDs, any broker offering them to trade must be the market. This means that the broker needs to be the counterparty to all trades, creating a direct conflict of interest between traders and the broker.

As STP brokers funnel all trades straight through to the market without interference, they will not offer crypto trading. You will need to find a market maker broker or one that can find a counterparty for the trade.

Why Trade Cryptocurrency?

Every market or financial instrument has its own unique behaviour, but the cryptocurrency CFD market is the most volatile and unpredictable of the CFD markets. It is this volatility that allows for big profits in single trades and attracts traders who accept the high risk in exchange for the potentially huge profit.

The high level of volatility available with digital currencies negates the need to use margin trading. Even though margin trading can be a powerful tool, margin trading of cryptocurrencies is a recipe for disaster for the inexperienced trader.

How Cryptocurrency Trading Works

The main aspect of cryptocurrency CFD trading operates in much the same way as you would trade the Forex CFDs. As with all trading, you’re doing so with the expectation that asset value will change in the way you have predicted, so you can close the trade for a profit.

Like Forex trading, cryptocurrencies are also traded in pairs using a two-way quotation system. It is still rare for brokers to offer cryptocurrency pairs where both currencies in the pairs are cryptocurrencies – an example would be BTC/LTC (Bitcoin and Litecoin). Most brokers offer pairs of one fiat currency and a cryptocurrency.

What makes this asset appealing to Forex traders is that it requires the same chart reading skills and chart pattern recognition skills that are used in the Forex market because the supply and demand forces function similarly.

Before You Begin

Before trading crypto CFDs, first, try to answer why you are interested in trading this asset class. In recent years, the value of cryptocurrencies have increased considerably, which has driven a belief that large profits are possible for considerably low risk.

Before you start trading Bitcoin (BTC) or any other cryptocurrency, you have to understand blockchain technology and how the value of cryptocurrencies change. Because these currencies are borderless with no oversight by a central bank or government, their behaviour is in no way regulated or controlled. Furthermore, as they have no value base (ie. they are not tied to the success or failure of a national economy), their price action is purely speculative.

As with all trading, the more you learn about a specific asset class, the better trading decisions you will be able to make.

Remember, not all brokers offer cryptocurrency trading. There is a growing number who do, and there are even fewer that have a wide range of cryptocurrencies to trade.

How to Start

Knowing the dos and don’ts should prevent you from making the errors that most novice traders are prone to make. Before you start trading cryptocurrencies, find a broker that offers an excellent education section and a full range of research and analysis on trading crypto pairs.

Make sure your broker that has the minimum deposit amount that suits you. Some traders will want to add more to their accounts than others, but this is a highly personal choice.

Is It Profitable?

Like all trading, if you’re on the right side of the market, you can make a profit. However, if you’re on the wrong side of the market with cryptocurrencies, you can lose a lot of money in a short period.

The cryptocurrency market is very volatile, and it’s not uncommon to see 20%, 30% and even 50% swings every single day. If you are day trading, this can translate to good profits if you can capitalise on the short-term fluctuations.

Is It Safe?

Trading cryptocurrency is a very high-risk market. In part, this is because the market doesn’t have a long history, so we can’t refer to previous market behaviour, but also because it does not have the same oversight and controls as fiat currencies. This lack of control makes the market an unpredictable asset to trade.

Cryptocurrency CFD trading is also only as safe as your broker. The same rules apply when looking for a broker to trade crypto CFDs, as they do for fiat currencies. Finding a well-regulated broker, with an acceptable account choice, trading conditions and reputation is key to your trading safety.

Cryptocurrency Trading Hours

Because there is no actual cryptocurrency exchange, and all trades use a broker as a counterparty, cryptocurrencies can be traded 24/7. Crypto CFDs are the only assets that trade around the clock, seven days a week, 365 days a year, which is very rare in the financial world.

In contrast, the stock markets operates 8 hours a day; 5 days per week while the Forex market pauses trading over the weekend.

The main advantage of a 24/7 market is that you can buy and sell cryptocurrencies any time of the day, making it accessible to all traders.

Are Profits Taxable?

Like any other regular income, cryptocurrency trading is taxable. However, the cryptocurrency market remains a relatively new market, and because of that, there is also a lot of ambiguity in the laws. In Australia, Bitcoin is not seen as money, but rather as property, thus being an asset subject to capital gains tax

If you’re transacting any cryptocurrency, you need to be aware of the tax consequences — no matter where you live, if you have significant money invested in cryptocurrencies you should always seek guidance from a financial adviser when it comes to legal issues and taxes.

Conclusion

Trading cryptocurrency CFD pairs is essentially the same as trading Forex currency pairs, and if you’re already an experienced technical Forex trader the transition into cryptocurrency will be straight forward. If you already have a trading account, you only need to find out what cryptocurrency pairs are available.

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.