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15 Best Crypto Day Trading Platforms

 

Overview

It has become abundantly clear that digital currencies have a bright future with banks, investors, hedge funds, and larger markets turn bullish on cryptocurrencies where they were once considered with scepticism.

In 2021, there are more than 4,000 cryptocurrencies within the digital infrastructure, showing sharp increases in recent years. Despite many fears and uncertainty that initially surrounded digital assets, cryptocurrencies have become a global sensation, attracting retail traders and institutional investors worldwide.

Cryptocurrency owners in the United States have risen to 10% while 13.5% of Britain’s citizens own crypto. The cryptocurrency market has exceeded $2 trillion, with Bitcoin accounting for 50%, making it the strongest contender in the market.

Cryptocurrencies offer traders a plethora of trading opportunities and they have become especially popular among day traders. Those who use day trading strategies in crypto markets need not look further than the list below to find the best crypto day trading platforms in the industry.

 

MetaTrader 5

Features

MetaTrader 5 is the upgraded version of MetaTrader 4 which introduces additional features as well as a wider range of markets that can be traded through the platform. MetaTrader 5 also has additional technical indicators, more timeframes, and advanced charting capabilities.

Pros and Cons

PROS CONS
Powerful and reliable trading platform The learning curve from MetaTrader 4 to 5 is very wide
Range of markets that can be traded
Available across different devices
User-friendly and high customizability

Binance

Features

Binance is a well-known cryptocurrency exchange that allows traders to exchange one digital currency for another with minimal transaction fees. Traders have access to more than 150 cryptocurrency coins that can be traded and exchanged.

Binance is a fast, robust, versatile, and secure trading platform that can be used across several devices including desktop, web, and mobile apps. Traders also have access to a comprehensive training academy and analysis.

 

Pros and Cons

PROS CONS
Access to more than 150 crypto assets No telephonic support
Powerful trading platforms The daily market analysis is not comprehensive
Option to purchase crypto with credit card US clients not accepted
Training academy provided

 

Kraken

Features

Kraken is a popular cryptocurrency trading platform and exchange that supports a wide range of funding options including SEPA, debit cards, credit cards, and others.

Kraken is known to offer a wide range of cryptocurrency trading markets, including fiat-to-crypto, and crypto-cross pairs. Where fees are concerned, Kraken is competitive, depending on the trading needs and objectives of the individual retail trader.

Kraken offers traders a selection of educational materials and 24/7 customer service, including the ability to use robust trading tools such as trading API, Crypto Watch, and more.

 

Pros and Cons

PROS CONS
Sophisticated mobile trading platforms offered Unregulated
Selection of educational material Limited non-crypto currency trading instruments
24/7 customer support provided MetaTrader not provide

 

Bittrex

Features

Bittrex is a United States-based blockchain technology provider as well as a comprehensive cryptocurrency exchange trading platform. Bittrex offers traders access to a wide range of tradable financial instruments including major cryptocurrencies such as Bitcoin, Ethereum, Tether, Cardano, and others.

Bittrex provides traders and investors with an institutional-grade trading platform that is suited to both professional traders as well as beginners. With this trading platform, day traders can expect a user-friendly experience with reliable trade execution, native wallets, and international security practices.

 

Pros and Cons

PROS CONS
Intuitive mobile trading technology No other financial instruments supported
Wide range of educational material Unregulated
API trading tool provided No website chat support
Flexible funding methods

 

IG

Features

Based in the UK, IG is a popular and reputable broker that offers CFDs, forex, conventional shares, funds, and cryptocurrency trading, among others. Traders can expect a decent selection of crypto-asset CFDs, which are all traded against the USD, including ETH, EOS, LTC, and several others.

Traders are not charged commissions when they use day trading strategies with IG as the cost is already calculated into the spread, which is competitive. The IG trading platform is especially favoured by technical traders who prefer performing in-depth market research and technical analysis.

 

Pros and Cons

PROS CONS
More than 80 currency pairs offered High minimum deposit requirement
IG offers more than 17,000 financial instruments Traditional stocks and ETFs not available to US traders
Tight spreads and commission-free trading
Comprehensive technical and fundamental analysis
Range of sophisticated applications

Libertex

Features

Libertex is a well-known broker that allows traders to trade cryptocurrencies using day trading strategies without having to pay a spread. The commissions that are charged are competitive, from as little as 1% per slide, with some cryptos such as Dogecoin being commission-free.

Libertex is perfect for beginner and experienced traders who need access to a wide range of markets and a wide selection of crypto-to-fiat and crypto-cross pairs. All-day trading markets that Libertex offers can be traded using leverage as well, which is another added benefit.

 

Pros and Cons

PROS CONS
Zero-spread CFD trading Only allows CFD trading, no physical assets
Competitive commission charges
Decent educational materials and resources
Well-established broker

 

Luno

Features

Luno is a popular and reputable cryptocurrency trading application that is often used by day traders who prefer trading on their smartphones. The app is compatible with iOS and Android phones and is free to download from either Google Play or the App Store.

Luno is available in more than 40 countries, and it offers a simple and secure way to day trade popular cryptocurrencies such as Bitcoin, Ethereum, Ripple, and a few others.

Luno offers user-friendly and simple solutions to both beginner and advanced traders, and it is also known for its low transaction and trading fees, depending on the trader’s country of residence.

 

Pros and Cons

PROS CONS
Top-rated crypto trading app Debit and credit card fees can be expensive
Low commissions charges Margin trading facilities not provided
Bank transfer is typically free
Great reputation and more than 8 million users
User-friendly

 

Capital.com

Features

Capital.com offers the perfect solution to traders who want to day trade cryptocurrencies but who do not have extensive experience in doing so. The Capital.com platform is easy to use, and it does not have the typical over-the-top trading jargon that most other platforms use.

The trading platform also has a clean and user-friendly interface which allows for easy order placement. In addition, traders also have access to a wide range of crypto CFDs that they can trade.

This also includes crypto-fiat and crypto-cross pairs across a wide variety of digital coins, with the benefit that commissions are not charged, and the spreads are extremely competitive.

 

Pros and Cons

PROS CONS
Commission-free trading on all markets Traditional investments not offered – only CFD
Tight and competitive spreads Not suitable for professional traders
A wide range of instruments
Spread betting available for UK traders
Perfect platform for beginners
Low minimum deposit

 

Coinbase

Features

Coinbase is one of the largest cryptocurrency brokers where client accounts are concerned, with more than 35 million registered users. Since its launch in 2012, Coinbase has grown so much that it is even listed on Nasdaq.

With Coinbase, traders have access to a wide range of cryptocurrency assets that can be purchased with ease. To buy a crypto asset with either a debit or credit card, traders pay 3.99% in transaction fees.

Bank charges are much cheaper, especially when traders practice day trading strategies. Coinbase offers Coinbase Pro, which is more suited towards day trading endeavours.

The fees are much lower, and traders are also given access to a wider range of tradable instruments.

 

Pros and Cons

PROS CONS
User-friendly mobile app Expensive fee structure
More than 35 registered clients
A long-standing, rich history
Supports faster payments for some currencies

 

FOREX.com

Features

FOREX.com is more typically known for its currency trading that consists of more than 80 forex pairs, but FOREX.com has also become the well-known home for cryptocurrency trading.

Cryptocurrency markets can be traded as CFDs with FOREX.com and traders can either go long or short and even use leverage when they trade digital assets with this broker.

FOREX.com also features a commission-free trading account that has tight variable spreads, which is the best option for day traders.

 

Pros and Cons

PROS CONS
Specialist forex trading app KYC process may be time-consuming
Access to a wide range of assets
Heavily regulated
Variety of trading tools offered

 

Interactive Brokers

Features

Interactive Brokers is a well-regulated and reputable forex broker that offers thousands of different financial markets that can be traded, with the advantage that traders can use a variety of trading strategies.

Interactive Brokers offers a variety of crypto derivatives and direct access to Bitcoin futures that are listed on the CME, which means that traders can either go long or short on Bitcoin.

 

Pros and Cons

PROS CONS
Huge variety of tradable instruments Not suited to complete beginners
CFDs, futures, options, forex, and more are offered for trade The fee structure can be confusing
No minimum deposit requirement
Commission-free trading offered

 

AvaTrade

Features

AvaTrade is one of the best and most popular trading brokers in the market, especially where cryptocurrency day trading is concerned. The AvaTrade platforms offer a wide range of instruments and trading tools, helping traders add a competitive edge to their crypto trading.

In addition, AvaTrade also offers commission-free trading and a secure environment in which traders can operate. There is also a day trading simulator that mirrors cryptocurrency market conditions, allowing traders the ability to practice trading with paper trading funds.

 

Pros and Cons

PROS CONS
Supports MT4, MT5, and proprietary trading platforms CFDs only, no conventional stock ownership
Commission-free trading
Educational materials provided
Economic calendar

Robinhood

Features

Robinhood is a user-friendly and comprehensive trading application that offers commission-free trading on a variety of financial markets. Robinhood is particularly good for traders who want to trade different cryptocurrencies using day trading strategies.

Robinhood allows traders to buy Bitcoin with a minimum of 0.00001 BTC, something that other platforms will not allow. Apart from Bitcoin, traders can also trade Dogecoin, Ethereum, Bitcoin SV, and several others.

 

Pros and Cons

PROS CONS
Highly popular trading platform Limited funding options
Access to a wide range of financial markets Confusing margin trading rates
Commission-free trading options
No minimum deposit
User-friendly and ideal for beginners

 

eToro

Features

eToro is one of the best crypto day trading platforms not only because of its multi-regulated status but also the fact that eToro welcomes a variety of different traders from all over the world.

With eToro, traders can buy and sell more than 18 popular cryptocurrencies, including fiat-to-crypto pairs and crypto-to-crypto pairs. These CFD derivatives are available to all traders and traders also have the benefit of commission-free trading.

eToro also stands out because it offers passive investment tools in the user interface which includes CryptoPortfolio. Traders also have the option of using the Copy Trading tool that allows them to copy the trades of skilled traders that use eToro.

 

Pros and Cons

PROS CONS
User-friendly online broker and trading platform Not suitable for advanced traders
Commission-free trading
Flexible funding methods
Social trading and copy trading supported

 

Gemini

Features

While many crypto exchanges focus on attracting more retail traders and investors, Gemini is ideal for traders who want to trade large volumes using day trading strategies.

Gemini has a solid regulatory framework in the cryptocurrency market, with regulation and authorisation through the New York State Department of Financial Services (NYSDFS).

Gemini provides a fully secure trading environment and a wide range of cryptocurrency pairs that can be traded. Gemini’s trading fees are competitive and there are many trading opportunities when using this platform.

 

Pros and Cons

PROS CONS
Safety-first mindset Expensive trading fees
Well-regulated Onboarding times can be slow
Institutional-grade security
Wide range of tradable cryptocurrency instruments

 

FAQ

What is day trading?

Day trading is a short-term trading strategy where traders open and close positions in quick succession, hoping to make small profits from the price movements between crypto and fiat pairs.

 

How do I use day trading in cryptocurrency markets?

When you use day trading in cryptocurrency markets, you will be trying to make profits on the price changes between cryptocurrency pairs, based on supply and demand.

 

Which platforms are the best for day trade cryptocurrencies?

The platforms on this list are the best trading platforms to day trade cryptocurrencies.

 

Can beginners use day trading strategies in cryptocurrency markets?

Yes, however, day trading can be extremely risky as it is fast-paced, and traders must ensure that their entry and exit points are perfectly timed so that they can make a profit in a volatile market.

 

Are day trading strategies profitable?

Yes, they can be when they are executed correctly and in a well-timed fashion.

 

Are these trading platforms secure?

These platforms are considered the best, but many are not regulated.

 

Can I start trading with low capital?

Yes, some brokers and platforms allow traders to start trading with small amounts of capital. However, traders are urged to keep enough capital in their accounts to cover trading and non-trading fees and any losses they may incur.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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