Top cryptocurrency brokers & platforms where you should trade
Bitcoin, Ethereum, Litecoin and other cryptocurrencies are in a high demand, but if you want to trade them with the right crypto broker, there are few aspects which you shouldn’t overlook. In order to find the best company, focus on following.
Wide range of cryptocurrencies
The company, where you choose to trade, needs to offer cryptocurrencies which you want to trade. Almost every CFD broker have at least the top 5 most popular cryptocurrencies, but others are usually not offered. So, if you plan to trade cryptocurrencies which are not that popular you have to pick a company that also includes them in the offer.
Trading capital requirements
Most people want to invest around 500 dollars in trading cryptocurrencies, so when a CFD broker have the minimum deposit 100 dollars, they have no problems to meet this criterion. If you, however, have less money than the minimum deposit is, you have to pick a cryptocurrency broker that allows trading even with a super low capital. It is harder to find such companies, but even with 10 dollars, you can trade your favourite digital coins.
Fees that cryptocurrency brokers have
Brokers are not a charity and yes, there are fees when you trade cryptocurrencies. Even the best cryptocurrency brokers charge spreads. But if you pick a good crypto company, these fees will not be such a problem. You should choose your broker according to how you plan to trade cryptocurrencies. A day trader and a long-term trader (that holds the cryptocurrency) will both choose a different broker.
Why choose crypto broker over cryptocurrency Exchange
Many investors who plan to buy and hold certain cryptocurrency for a longer time period choose rather cryptocurrency exchange than a crypto broker. They usually do that, because the fees are there really minimal, but if you decide to go this road, there are few aspects about which you should know. First of all, the customer support at cryptocurrency exchanges is very bad, if you are in a need of help or assistance you have to wait several days to get an answer. And when you do receive it, the answer looks like if it was written by a robot. Cryptocurrency brokers, however, do in most cases offer high-quality services and they are ready to help you right away on an online chat. CFD brokers have about 10 years of experience with trading, so their advice is usually very helpful. You also can not overlook the fact that several crypto exchanges have also fallen victim to cyber attacks. That, of course, can happen even to a CFD broker, but in most cases, it at least offers some kind of compensation for your loss.
So, how to choose the best cryptocurrency broker
I have shortened the list of the best cryptocurrency brokers to Plus500, IQ Option, AvaTrade and Markets. All of these companies are licensed and regulated in almost every country in the world. They all have different spreads on different cryptocurrencies, but they differ only slightly, with the exception of IQ Option which is rather for a long-term investing. They are well-recognized CFD brokers in the industry that are on the market for several years.