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27 Best Bitcoin Forex Brokers

27 Best Bitcoin Forex Brokers

 

Overview

Bitcoin was created by a person or group of people under the name Satoshi Nakamoto in 2009.

It was intended to be used as a method of payment free from government supervision, transfer delays, or transaction fees.

However, most businesses and consumers are yet to adopt Bitcoin as a form of payment, and it’s currently far too volatile to provide a legitimate alternative to traditional currencies.

Primarily, Bitcoin is now used as a form of investment. Its characteristics more closely resemble commodities rather than conventional currencies.

This is because it’s beyond the direct influence of a single economy and is largely unaffected by monetary policy changes. Nonetheless, several other factors can influence Bitcoin prices, and these should be kept in mind by traders.

 

 

When you buy Bitcoin on an exchange, the price of one Bitcoin is usually quoted against the US dollar (USD). In other words, you are selling USD to buy Bitcoin.

If the price of Bitcoin rises you will be able to sell for a profit because Bitcoin is now worth more USD than when you bought it. If the price falls and you decide to sell, then you would make a loss.

With a Bitcoin broker, you trade Bitcoin via a spread bet or CFD account. This allows you to speculate on Bitcoin price movements without owning the actual cryptocurrency. You aren’t taking ownership of Bitcoin.

Instead, you’re opening a position that will increase or decrease in value depending on Bitcoin’s price movement against the dollar.

In this article, we explore the 27 best Bitcoin brokers that allow you to enjoy some of the best trading conditions in the industry.

 

Here are our 10 Best Handpicked Bitcoin Forex brokers.

 

 

Let’s get started with the full breakdown of the Best Bitcoin Forex Brokers:

 

Coinbase

Overview

Coinbase is a digital currency broker exchange where you can buy and trade Bitcoin and a few other cryptos. It is different from traditional cryptocurrency exchanges because it allows you to buy crypto using fiat currencies.

Coinbase is considered one of the biggest crypto-broker exchanges in the world. They hold over US Dollar 20 billion in assets and over US Dollar 50 billion in crypto has been traded using its platform since it was founded in San Francisco, California in 2012.

Coinbase actually has two core products; a broker exchange and a professional trading platform named GDAX. However, the two can be used independently from one another.

 

Pros and Cons

✔️ PROS ❌ CONS
Fiat currencies accepted

User friendly

Very secure

High trading fees

Not available in all countries

 

Binance

Overview

Binance is the world’s largest online cryptocurrency exchange by trading volume. The exchange is also one of the fastest platforms in the crypto market today.

As the world’s largest crypto exchange by trading volume, Binance Coin delivers investors and traders with a full suite of offerings.

CEO Changpeng Zhao founded Binance back in 2017 and is headquartered in crypto-friendly Malta after having moved from China.

The exchange provides investors with one of the widest ranges of cryptos available in the marketplace today. Cryptos on offer range from the market’s largest by market cap to some smaller and less known coins and tokens.

 

Pros and Cons

✔️ PROS ❌ CONS
User-friendly platform

Wide range of cryptos

Great liquidity

No trading anonymity

Limited demo account

 

Coinmama

Overview

Launched back in 2013, Coinmama is registered in Slovakia, while owners of New Bit Ventures are based in Israel.

The platform was established to create the simplest financial service in the crypto space. Since the genesis, Coinmama is trusted by over 2,300,000 people across 197 countries.

Having been launched back in 2013, Coinmama was also amongst the first to support the purchase of Bitcoin with credit and debit cards.

Payment methods for the purchase of cryptos include Faster Payments, Fedwire, Soft, SEPA, SWIFT, and Apple Pay.

Coinmama users can freely insert the exact amount of USD, EUR, GBP, CAD, AUD, or JPY to purchase crypto.

 

Pros and Cons

✔️ PROS ❌ CONS
Wide range of popular cryptos

Crypto can be bought with fiat money

No additional withdrawal fees

Security

No advanced trading tools

No trader anonymity

 

Kraken

Overview

Founded in 2011, Kraken is a cryptocurrency spot exchange that also offers futures contracts and margin trading.

As Kraken is based in the United States and must comply with American regulations, they only offer about twenty coins for trade. That’s as compared to Binance, which offers more than one-hundred.

It’s possible to open an account on Kraken and trade cryptocurrencies without undergoing KYC or AML.

However, the withdrawal limits on such accounts are low and it’s not possible to deposit or withdraw Fiat without a KYC verified account. Anyone wishing to trade futures contracts will also need to undergo a KYC verification.

 

Pros and Cons

✔️ PROS ❌ CONS
Trusted Bitcoin exchange

Supports many different countries

Requires ID verification, not private

Not user friendly for beginners

 

Gemini

Overview

Gemini is a U.S.-based company with FDIC protection for USD and has never been hacked (that we’re aware of as of publication). It’s a straightforward platform that is easy to use and puts security at the highest level.

Gemini has over 20 cryptocurrencies, including its own currency called Gemini dollars (GUSD). You can trade and store cryptocurrencies with Gemini.

 

Pros and Cons

✔️ PROS ❌ CONS
Security-first approach

Mobile apps available for trading

Active Trader platforms offer professional-level features

Limited payment methods

Limited availability around the world

 

Bittrex

Overview

Bittrex is a veteran US exchange that has emphasized the security of its users. The exchange’s trading platform is highly praised for its speed and stability, and indeed the exchange has never been hacked to date.

The platform lists a wide variety of currencies and allows for standard spot trading orders to be executed.

The current trading engine seamlessly glues together automated trading features, such as stop-loss, good ’til canceled (GTC), an instant buy or sell, with all the standard technical charting tools a trader needs.

 

Pros and Cons

✔️ PROS ❌ CONS
Wide variety of currency pairs

Compliant with US laws

Decent trading volumes

Limited customer support

 

CEX.io

Overview

CEX.IO is one of the oldest crypto exchanges available in the world and allowed its users to trade Bitcoin in 2013 when cryptocurrencies were not that popular and very few people in the world had any idea about digital currencies.

You can trade on CEX.IO using your mobile device, website portal, and various API integrations.

Being the first cloud mining provider in the world, CEX.IO has tremendous experience related to cryptocurrencies and their safety. The exchange offers the option to trade more than 80 cryptocurrencies around the world.

 

Pros and Cons

✔️ PROS ❌ CONS
Good levels of security

Easy to use interface

Unlimited withdrawals

High trading volume

Relatively high fees

No advanced order types

 

 

KuCoin

Overview

KuCoin is an excellent cryptocurrency exchange for cryptocurrency investors. It can boast relatively high liquidity, a high number of users, a wide selection of supported assets and services, as well as low trading fees. Additionally, it does not force KYC checks on all of its users, which remains a valuable perk for privacy-conscious individuals.

KuCoin is straightforward and easy to use even for beginners. It has a modern and straightforward layout that extends through all pages and is powered by a powerful API interface.

The trading platform uses an advanced core trading engine that can handle millions of transactions per second (TPS).

 

Pros and Cons

✔️ PROS ❌ CONS
Low trading and withdrawal fees

User friendly

Excellent customer support

No forced KYC checks

No fiat trading pairs

No bank deposits

 

Poloniex

Overview

Poloniex is a centralized cryptocurrency exchange for both experienced and amateur cryptocurrency traders. It offers a range of crypto markets, advanced trade types, as well as margin trading and crypto lending, which makes it a convenient place for traders from all walks of life.

In addition to Level 1 and Level 2 accounts, large-volume traders, professionals, and institutions can apply for opening Poloniex Plus Silver, Gold, or Market Maker accounts.

Poloniex Plus services come with numerous benefits, including lower trading fees, premium features, account managers, whitelisting priority, increased withdrawal limits, and much more.

 

Pros and Cons

✔️ PROS ❌ CONS
Very low fees

Wide range of supported currencies

Only email required to trade

No fiat currencies

Customer support can be slow

 

Simplex

Overview

Simplex is an EU-licensed fin-tech (financial technology) company that provides fraud protection and processes transactions globally. Also, Simplex provides the technology for crypto merchants to accept credit card transactions.

As with any good start-up tech company, it’s built by experienced tech-savvy staff. Simplex uses a proprietary AI algorithm that learns how you transact online. It collects data points from every user and transaction. Then that information can help mitigate potential fraud.

While Simplex itself does not provide cryptocurrency, it partners with a variety of merchants who supply crypto.

 

Pros and Cons

✔️ PROS ❌ CONS
Accepts debit and credit cards

The very fast payment process

Secure and reliable

Very user friendly

Some cryptos not accepted

Higher fees

 

Bithumb

Overview

Based in Seoul, Korea, Bithumb is a cryptocurrency exchange that was established in 2013. The exchange is managed by a company called BTC Korea.Com Co. Ltd.

Catering mostly to customers from Korea, Bithumb offers cryptocurrency trading that is paired with the South Korean Won (KRW). While Bitcoin is the main cryptocurrency being traded, Bithumb also offers a selection of altcoins.

The trading volume achieved by Bithumb is one of the highest clocked by any cryptocurrency exchange in Korea. It is also ranked as one of the top exchanges in the world in terms of Bitcoin trading volume.

 

Pros and Cons

✔️ PROS ❌ CONS
24/7 customer support

Competitive fees

User-friendly trading platform

A wide selection of cryptocurrencies

Major fiat currencies not supported

Does not provide crypto pairs

 

Changelly

Overview

Changelly allows you to trade cryptocurrency instantly and without registering at any exchange or verifying your identity. In operation since 2015 and headquartered in Malta, Changelly was originally associated with the Minergate team.

Changelly uses an automatic trading robot that integrates with some of the largest trading platforms, including Poloniex, Binance, and Bittrex. It operates by making bids and asks respective exchanges to suggest the best available rates on trading pairs.

 

Pros and Cons

✔️ PROS ❌ CONS
Wide range of supported coins

Excellent customer support

Low fees on fiat

High fees on cryptocurrencies

 

Bitstamp

Overview

Bitstamp is most popular with intermediate and experienced cryptocurrency enthusiasts and is used as a way to purchase more established cryptocurrencies with fiat currencies.

Bitstamp offers low fees and has been acknowledged as an excellent way to exchange large amounts of digital currencies.

Bitstamp uses some of the best practices when it comes to cold storage of their cryptocurrency assets. What this basically means is that they keep the majority of their coins offline in an air-gapped state.

Bitstamp is often considered more of a “Fiat Gateway” than a large exchange to buy a range of smaller Altcoins.

Hence, Bitstamp continues to maintain a core focus on the most established cryptocurrencies and offers pairs featuring Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple. These are matched with USD and EUR fiat currencies.

 

Pros and Cons

✔️ PROS ❌ CONS
High liquidity

Solid reputation

Advanced trading platform

Low trading fees

High card fees

 

CoinExchange

Overview

CoinExchange is a purely crypto-to-crypto trading platform, meaning new cryptocurrency investors might have some problems when starting on this platform as it would be impractical for them.

It can be said that it’s not necessarily friendly towards new investors. Users can deposit existing cryptocurrencies into their accounts for no fee, which is most definitely an advantage.

The exchange offers a very impressive range of hundreds of different cryptocurrencies. It also features ICO projects, which makes it more than just a trading platform.

 

Pros and Cons

✔️ PROS ❌ CONS
Low trading fees

Free deposits

User-friendly platform

Wide range of coins

Anonymous trading

Good security tools

Poor customer support

High withdrawal fees

 

Prime XBT

Overall Rating

4.7/5

Rated #192 of
Recommended FX Brokers

💰Minimum Deposit

0.001 BTC

🌐 Regulators

Not Regulated

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

18

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Overview

Prime XBT is an online Bitcoin-based exchange that offers cryptocurrencies and CFDs for trading on its platform. This company was founded in 2018 in Seychelles.

Though a new company, Prime XBT has experienced exponential growth within a short period of time, as it has clients from 150 different countries.

The company’s vision, according to the website, revolves around creating an innovative platform that equips users with the essential tools required for their daily trading activities.

Prime XBT offers a powerful platform loaded with important trader tools that are suitable for both beginners and intermediate-level traders.

The exchange firm has also effectuated industry-standard security practices, to protect investor funds and trading activities from cyber-attacks.

 

Pros and Cons

✔️ PROS ❌ CONS
Anonymous accounts available

Competitive fees

Ultra-fast trade execution

Advanced trading platform

No demo account

No US clients

 

Huobi Global

Overview

Huobi is one of the largest cryptocurrency exchanges based and catering to Asian audiences, having operated in the space since 2013.

It has recently made some branding adjustments, and today its major offering is Huobi Global, its global crypto exchange offering an inviting platform to trade cryptocurrency.

The company has wide support for many altcoins and a large variety of stablecoins, alongside its own invention, HUSD, a USD-backed stablecoin.

The exchange offers a wide variety of coins to trade across many markets, and many users choose to place their funds and trust with the company, due to their proven track record, their impressive team, and their lucrative features outside the score of regular exchanges.

 

Pros and Cons

✔️ PROS ❌ CONS
Intuitive trading platforms

A good selection of educational material

A vast range of cryptocurrencies to trade

Excellent customer support

No US clients

 

Bitfinex

Overview

Bitfnex is one of the leading cryptocurrency exchanges in the world that is geared towards cryptocurrency investing and trading.

It is managed by iFinex Inc. and it deals in BTC/USD and 7 other major Altcoins such as Ethereum and Monero. By volume, Bitfinex is currently the largest cryptocurrency exchange in the world.

Bitfinex now stores 99.5% of its clients’ funds in cold storage. Only 0.5% of the funds are kept in hot wallets to provide the liquidity needed for the exchange. The cold storage system is geographically spread out and uses a multi-sig feature.

 

Pros and Cons

✔️ PROS ❌ CONS
Established company

Competitive fees

High liquidity

Supports multiple order types

No US clients accepted

 

bitFlyer

Overview

bitFlyer is a regulated Japanese cryptocurrency exchange that offers virtual currency exchange and trading services in Japan, the United States, and Europe.

The exchange lets you buy and sell Bitcoin, as well as other cryptocurrencies using your preferred fiat currency, be it USD, EUR, or JPY. It also let’s make quick crypto purchases using a bank card and other payment methods.

Although bitFlyer is a popular exchange in Japan, it is the best-kept secret amongst European and US traders due to its very low fees, responsive support, excellent security, and ease of use.

 

Pros and Cons

✔️ PROS ❌ CONS
Very low fees

Beginner-friendly user interface

Advanced features available for pro traders

A limited number of supported currencies

No user anonymity

Limited mobile app features

 

OKEx

Overview

OKEx is run by a team of financial advisors, industry trading experts, and IT professionals with their CEO Mr. Jay Hao, who was a game developer in the past.

OKEx has listed all major cryptocurrencies and other digital assets on their platform, providing a wide range and ease of trading to their users to buy and sell cryptocurrencies and pay using different payment options.

The exchange also provides facilities of spot, margin, and derivatives trading, as well as users, can earn through savings, mining, and staking as long as they want.

 

Pros and Cons

✔️ PROS ❌ CONS
A huge selection of coins

Accepts fiat currency deposits

Low trading and financing fees

No deposit fees

No US clients

 

Luno

Overview

Luno is a cryptocurrency exchange aimed mainly at emerging markets. Luno offers Bitcoin services to countries such as Malaysia, Nigeria, and Indonesia which are usually not allowed on most Bitcoin exchanges.

Established in 2013 originally as BitX and rebranded to Luno in 2016, Luno has offices in 3 cities around the world – London, Cape Town, and Singapore. The company serves over 3 million users from over 40 countries worldwide and has over 100 employees.

Luno offers several services for its users including a cryptocurrency trading platform, a brokerage service, a Bitcoin wallet, and an API for developers.

 

Pros and Cons

✔️ PROS ❌ CONS
Easy and intuitive user interface

Supports emerging markets

Reputable company

Custodial wallet

 

Coinsbit

Overview

Coinsbit is an Estonia-based crypto-asset exchange platform launched in 2018. The main coins available for trading on Coinsbit seem to be Bitcoin, Ethereum, and Litecoin.

Moreover, it supports a decent arsenal of stablecoins to trade on its platform as well. These include Tether, Paxos Standard, and more.

Coinsbit’s platform allows fiat-to-crypto trading alongside crypto-to-crypto trading, and deposits can also be made through Visa/Mastercard rather than just bank wire transfer.

 

Pros and Cons

✔️ PROS ❌ CONS
Excellent customer support

Accepts Fiat deposits

Competitive trading fees

A limited number of coins

 

Bitrue

Overview

Bitrue supports trading in a decent number of cryptos. You can trade all of the biggest ones here and even many of the smaller altcoins.

Apart from spot trading, Bitrue is also the first exchange that launched an “interest-earn program”, supporting over 10 cryptos and with an annual percentage rate of up to 15%. Bitrue was also the first exchange to launch crypto-backed loan services.

 

Pros and Cons

✔️ PROS ❌ CONS
Fast customer support

Easy to navigate

User anonymity

Lack of multilingual customer support

 

HitBTC

Overview

HitBTC’s main service is its trading platform. The platform supplies an advanced trading feature, a relatively sleek UI, and a demo mode for people who aren’t ready to risk real money trading Bitcoin just yet.

HitBTC offers Over Counter trading for people looking to sell or buy large amounts of Bitcoin or other cryptocurrencies (over US Dollar 100K).

HitBTC is known for being a place where companies that are issuing their own token could get it listed fairly easily.

HitBTC employs the “maker-taker” model. The “taker” is a trader who places an order that matches immediately with an existing order on the exchange (i.e. taking orders away from the exchange). The taker pays the fee from the committed trade.

The “maker” is a trader who places a limit order below the best ask price for the buy and above the best bid price for the sell (i.e. making new orders on the exchange). Fees can vary from 0.25% (standard taker fee) to -0.01% for extremely large orders.

 

Pros and Cons

✔️ PROS ❌ CONS
Anonymous accounts

Intuitive interface

Supports more than 50 cryptocurrencies

Relatively low fees

Strong security

No US clients

Difficult verification process

Slow withdrawals

 

Coincheck

Overview

The company behind Coincheck was established in 2012 by Keisuke Wada and Yusuke Otsuka and the exchange itself began operating in 2014.

Both founders are current directors with Wada acting as CEO and Otsuka COO. While nominally a Japanese exchange Coincheck is available internationally.

Coincheck is a very high-quality cryptocurrency exchange and also offers some useful additional services such as prepaid Visa cards that can be funded by Bitcoin.

The level of the technology the exchange runs on is one of the best internationally and it is also extremely easy to navigate.

 

Pros and Cons

✔️ PROS ❌ CONS
Credit card payments accepted

Wallets apps available

The fee-free trading period provided

No chat-based customer support

 

BitBay

Overview

BitBay is a Polish-based cryptocurrency exchange that was founded by Sylwester Suszek in 2014. The head office of BitBay is located at ul. Kępowa 45 40-583 Katowice, Poland. The exchange also maintains branch offices in Amsterdam and New Delhi.

BitBay was set up with the primary goal to offer Polish cryptocurrency traders a safe and secure platform for them to trade in popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.

In addition to cryptocurrency trading services, BitBay also offers its customers the ability to pay their bills with Bitcoin via SMS.

 

Pros and Cons

✔️ PROS ❌ CONS
Supports ATM withdrawals

Tight security

User-friendly platform

Excellent customer support

Limited range of cryptocurrencies

 

YoBit

Overview

YoBit is a cryptocurrency exchange that was launched in 2015 by a group of independent European developers and is incorporated in Panama. Today, it is one of the top ten exchanges in terms of traffic, liquidity, and trading volume.

It offers a massive range of tradable cryptocurrencies (more than 500) in over 8500 crypto-to-crypto and fiat-to-crypto markets. It is designed with simplicity and convenience in mind, meaning that it’s a user-friendly exchange for both amateur and advanced crypto users.

Its robust trading engine delivers speedy and reliable performance, and its advanced security measures ensure that user funds remain in wallets that have never been hacked before.

 

Pros and Cons

✔️ PROS ❌ CONS
Wide range of cryptocurrencies

Easy to use

Supports fiat currencies

Supports private trading

Limited charting tools

 

Currency.com

Overview

Currency.com is an online tokenized assets trading platform designed to make complex trading of cryptos and fiat money fast and easy. The Currency.com platform not only facilitates the trading of cryptocurrencies and tokens but also other asset classes.

These include some of the largest blue-chip companies, such as Apple and Amazon.com, as well as key commodities, including gold and crude oil.

 

Pros and Cons

✔️ PROS ❌ CONS
Competitively low fees

Fiat deposit and withdrawals

Demo account available

No anonymity

 

FAQ’s

 

What does Bitcoin trading entail?

When you buy Bitcoin on an exchange, the price of one Bitcoin is usually quoted against the US dollar (USD). In other words, you are selling USD to buy Bitcoin.

 

Can you make a profit trading Bitcoin?

Yes, you can, if you use the right trading strategy

 

Which are some good Bitcoin brokers/exchanges?

Check our comprehensive list of the 27 best Bitcoin brokers directly from the Forex Suggest website.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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