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Choose The Best Broker For You in this Trading Platform Comparison

In recent years, crypto-currency trading has experienced significant growth. There are several reasons for this. First, there is the alternative and independent dimension of digital currencies. Second, crypto attracts with its short-term volatility and impressive performance. Many financial experts find that buying, selling or trading cryptocurrencies (like Bitcoin for example) is a great way to diversify your portfolio of assets.

But then? Are there places where it is easier to invest in this very special financial instrument? How do you choose the best opportunity?

What is a crypto currency broker?

crypto comparison chart

A crypto currency broker is a digital intermediary, such as a website, which allows the purchase, sale or exchange of digital currencies under the best possible conditions. Two main types of cryptocurrency broker:

  • General brokers such as eToro or IQ Option , which offer online trading of reputable crypto currencies such as Bitcoin, Dash or Ethereum, among other financial products such as forex, commodities, stocks or indices. They are CFD brokers

  • Specialised brokers who focus their activities exclusively on one or more crypto currencies, under variable conditions: with or without leverage, fixed or personalised exchange rate, etc. These include, for example, Kraken , Binance and CoinBase 

How to choose the best cryptocurrency broker?

We repeat it regularly. There isn't necessarily one online broker that outperforms all the competition. Online trading is a financial activity that is based on very personal practice and even more so. There are of course proven strategies to limit the risks involved in an investment. There are obviously cybersecurity and reliability prerequisites to consider before registering and depositing funds. However, it is important to keep in mind that the best cryptocurrency broker is the interface that looks like you and that covers most (or all) of your technical needs while respecting your practical approach. 

Types of interfaces

Financial investment in crypto currencies can therefore take place on 3 main types of interfaces:

  • Classic trading platforms established by a broker who provides their services against a commission (or spread).

  • Sites that connect buyers and sellers of digital currencies. They make it possible to trade cryptocurrencies directly on a market not influenced by financial markets. The sellers therefore set their own exchange rate.

  • Brokers specialised and exclusive in crypto currencies with often a specialisation: Bitcoin, Litecoin , Ethereum , Dash , Ripple, etc. These are the perfect interfaces to discover altcoins without too much inconvenience.

The criteria to be taken into account

Before embarking on opening a trader account with a crypto currency broker, a few points of vigilance should be taken into account in order to limit the risk of financial losses as much as possible.

Take a tour of the reviews and presentations of the broker that interests you before getting an idea of ​​the digital reputation of this intermediary. What is customer service worth? Overall, is customer feedback positive? Do you have the feeling of genuine reliability in investing your savings?

It is sometimes forgotten, but investing your money inevitably involves management costs. Going through a broker is no exception to the rule. If you want to avoid eating too much of your earnings by trading Bitcoins or others, find out as precisely as possible the management fees. This will help you calculate your potential profitability.

If you want to invest your funds in digital currencies there is a good chance that you are more or less seriously interested in the dematerialisation of payment methods . Favour online crypto currency brokers who offer digital solutions such as debit / credit cards, bank transfers or even electronic wallets (eWallets). The more choices you have, the more easily you will be able to top up your capital and withdraw your profits.

Cryptocurrency Security

If the security of your identity and your capital are essential things for you in order to trade crypto currencies with confidence, make sure that the site where you place your orders is sufficiently well protected. For example via enhanced authentication methods (PIN code then code received by SMS for example). In addition, some sites even offer completely anonymous transactions which corresponds quite well to the spirit of digital currencies.

Whether you are on a CFD trading , direct or specialised trading platform , make sure your country is not affected by a geographic restriction. This could be highly damaging to make your investments.

We mentioned it above. To give you the best chances of making significant gains, find out in advance the exchange rates charged by the crypto currency broker or the seller with whom you are dealing directly. In addition to management fees, currency exchange rates can have a big impact on your profits.

Our selection of the best cryptocurrency trading platform for beginners

In this very particular sector of the financial markets, since integrated because of their popularity while maintaining a very alternative dimension, we are going to highlight really well thought-out brokers to operate this type of trading. We separate them into two categories: traditional brokers and specialised brokers.

The Traditional

In this sub-category we find the essential eToro and Libertex which already occupy a place of choice in many tops of reliable and efficient global brokers. The cryptocurrency category is no exception. The financial intermediary offers its dynamic interface and all of its analysis tools to easily and calmly trade digital currencies. With leverage, short-term trading of small amounts of Bitcoin (for example) quickly becomes ultra profitable. In this regard, some analysts claim that Libertex is the best CFD broker.

Swing Trading on etoro

67% of retail investor accounts lose money when trading CFDs with this provider. You have to ask yourself if you can afford to take the high risk of losing money

5/5

etoro rating
pros and cons etoro
etoro rating
libertex logo

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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.

4.8/5

5 Star.png
libertex pros and cons
libertex rating

Specialists

Within this group we shine the spotlight on Kraken, Binance and Coinbase, which are the easiest to access and best supervised brokers specialising in crypto currencies with management fees reduced to the maximum and trading conditions (purchase, sale , exchange) without obvious drift. The broker maintains control while offering a fairly free alternative market. In addition, we find both currencies with great power of attraction such as Bitcoin, Litecoin or Ethereum, and more exotic crypto currencies with emerging potential.

Other specialised sites

binance launchpad

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Bitfinex

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CEX

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EtherDelta

More info

ShapeShift

More info

Bit It

More info

blockchain

More info

Coinhouse

More info

Local Bitcoins

More info

YoBit

More info

XCoins

More info

CryptoTab

More info

Bitstamp

More info

More info

BTC Direct

More info

Coinmama
Paymium

More info

ZeBit

More info

Poloniex

More info

I hope you enjoyed our trading platform comparison. We hope we've selected relevant trading platform for beginners with some of our trading platform fee comparison on show.

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