Cryptocurrencies have been gathering popularity over the last few years. Because of this popularity, many traders have started to look at cryptocurrencies as great assets to test their luck on. They have everything that traders are looking for: good liquidity, great volatility, somewhat logical price movements, and other aspects that determine a good asset.
But when deciding to trade with cryptocurrencies, most people automatically assume that they can only use exchanges that are designed for cryptocurrencies. And there is some truth behind it, most crypto exchanges offer excellent services, many different trading options, crypto staking, and other features. But they are also in somewhat of a shade. Whenever we go and look at news around crypto exchanges, we will see that there are a handful of articles describing some problems between crypto exchanges and regulatory bodies. This is something that is unavoidable, considering the fact that cryptocurrencies carry somewhat of anonymity, and they are relatively new assets that have managed to gain such astronomical values, most government, and regulatory bodies are still unsure how to approach them and what kind of control to place over them.
But when it comes to Forex brokers, most governments don’t have problems with them as this is a well-regulated market and these companies have been around for quite some time. Because of this and the popularity of cryptocurrencies, most Forex brokers also started to offer crypto CFD trading in order to attract more customers to their platform. This is a great feature that most traders can utilize really well. If you are a Forex trader and also want to trade crypto, you don’t have to create a separate trading account on a specific crypto exchange and can conduct both your Forex and crypto trading in one place.
But which are the best Forex brokers that offer crypto trading? There are a few of them that stand out and here we will tell you everything about each of them. So, follow our guide to the best Forex brokers that offer crypto trading and learn more about them.
XM is one of the best and biggest Forex brokers in the market. Here traders can trade with many different assets, such as Forex, Crypto, Stocks, Commodities, and others. This is a trustworthy broker that is owned by Trading Point Holding Ltd and is being regulated by Cyprus, Australia, UAE, UK, and Belize. This big number of regulators ensures that traders who use XM are protected as much as possible. This is a great platform that offers great crypto CFD trading and here we will tell you more about it.
First of all, let’s look at fees on XM. When joining you are depositing money on XM you have to pay 0 fees on it, same goes for withdrawing money, there are 0 fees. The only fee you might need to pay is an inactivity fee that is charged if you go 90 days without doing any activity. But nothing drastic as this fee is just $5.
When trading cryptocurrencies on XM, you are trading crypto CFDs, which means that you are not buying actual tokens, but just speculating on future price changes. In total, XM offers 31 trading pairs, with cryptos such as BTC, ETH, and XRP all present. Unlike the Forex market which is open 24 hours, 5 days a week, the crypto market operates 24/7, which means that traders can trade non-stop throughout the whole week. Some Forex traders take an approach where they trade Forex on weekdays and on weekends they move to crypto.
Another benefit of trading crypto CFDs on XM is Zero Swap Product. What this means is that there are no transaction fees, as it uses a multi-chain compatible decentralized exchange protocol that removes zero fee transactions possible.
When it comes to leverage on crypto CFDs on XM, traders can use the leverage of up to 1:250. When margin trading crypto on XM, you will be met with dynamic margin rates. What this means is that, when trading crypto CFDs margin adapts automatically based on the volume traded on each instrument. So if a trader has open positions on multiple instruments, the margin is calculated separately for each instrument.
XM also offers really tight spreads on every token, with Bitcoin having the highest one, yet still a small one. And the best part is that there are no re-quotes.
So in conclusion, trading crypto CFDs on XM is a great opportunity for traders who wish to implement crypto trading with their Forex trading, and what is the better place than a highly regulated broker with really good offers?
Another leading Forex broker on our list that offers crypto trading is AvaTrade. Operating from Ireland, this broker has regulatory licenses from countries such as Ireland, Cyprus, Poland, Australia, Japan, South Africa, and more. This makes AvaTrade one of the most regulated and protected brokers on the market. Just like XM, AvaTrade offers a wide selection of assets that traders can trade with, Forex, Stocks, and Crypto being the most popular options.
AvaTrade is a broker, not an exchange. What we mean by this is that you cannot purchase actual tokens and hold them to re-sell them later for a profit. Here you can only trade with crypto CFDs, which means that you can only make speculations on future prices and make profits that way. When it comes to available cryptos, AvaTrade has 13 cryptos available for trading and one crypto index.
13 cryptos that you can trade with are following:
Looking at this list, this is an interesting collection of cryptocurrencies. There are big names such as Bitcoin, Ethereum, and Ripple, and also lesser-known tokens such as Chainlink, Uniswap, and Miota. With these, traders can diversify their trading activity across tokens with big and small trading volumes and adjust volatility based on that.
When it comes to the index that you can trade with, is the Crypto Index 10, which is the collection of the top 10 cryptocurrencies on the market based on market capitalization. This is one of the most popular and best-to-trade crypto indexes on the market. Trading with Crypto 10, you are practically trading with the whole crypto market, as the top 10 crypto tokens take up almost 80% of the whole crypto market, excluding stablecoins.
When it comes to leverage on AvaTrade, traders can trade with leverage of up to 1:25 depending on where you live. For example, according to European regulations, European traders can only use the leverage of 1:2, while traders from most other parts of the world can use 1:25 leverage.
Traders on AvaTrade can also use fantastic tools offered by AvaTrade to get a better insight into the market and make their trading more profitable. Here traders can use tools such as Economic Calendar, which provides important dates regarding economic activity around the world. There also is a special section called Market Buzz, where traders can see which assets are being searched on the internet the most. Featured Ideas and Analyst Views are two other tools that traders can use. With the help of these two tools, traders can get information about different strategies that work right now and read what top traders think about the current market.
So to sum it up, AvaTrade is a well-regulated and protected broker that Forex traders can use to implement crypto trading with their Forex activities. Even if you don’t trade Forex and are only interested in cryptos, it’s still a good broker considering the security and tools it offers.
Operating from Cyprus, Exness has been running its operations since 2008, giving it a good history of reliable and good quality services provided. Just like other brokers mentioned above, Exness provides trading possibilities for many different asset classes, from Forex and Crypto all the way to metals and energies. But today we will be looking at the crypto side of things and discussing why it is a good decision to trade crypto with Exness.
Exness is a broker and social trading platform. If you don’t know what a social trading platform is, it is a platform where you can look up the trading strategies of famous and successful traders. If you find something interesting, you can simply start following that strategy and the system will automatically execute the same orders as the trader you are following. It is a hands-off experience for those who are inexperienced or don’t have enough time to follow the market the whole day and execute trades. So if you are new to crypto trading or don’t have time, this Exness feature will be of much benefit to you.
When it comes to available crypto, Exness has 35 trading pairs available with cryptos such as BTC, XRP, ETH, BNB all paired with fiat currencies such as USD, GBP, and JPY. With this, you can trade with market leader tokens with the currency of your choice. We also need to mention that just like previous brokers, Exness only offers crypto CFD trading, and you can’t buy actual tokens.
If you want to increase your buying and selling power, Exness also offers leverage. This leverage can go up to 1:400 for some pairs, but most pairs only allow leverage of 1:20. But know that using leverage is a risky approach, as you can make good profits but also huge losses, and considering that cryptocurrencies are volatile, with high leverage you might generate huge losses in just a few seconds. So approach margin trading with high caution.
Spread is another important topic that needs to be discussed. Exness uses floating spreads, which means that spread change every day, and they are different for every single asset. If we were to visit the Exness website and go to the crypto section, there Exness provides the average spread for each crypto based on the previous day and if you wish to know the current spread, you will need to visit the trading platform and look it up there. Exness also has no Swap fees.
In conclusion, Exness is a great platform with a good and long history. It is a great place to visit if you don’t have enough time to trade or lack experience as you simply follow the trading strategies of successful traders automatically. They have a good selection of pairs with good leverage and tight spreads.
Cryptocurrencies are growing at a rapid speed, and it looks like they are here to stay. Because of this, it is likely that more and more brokers will start to implement crypto trading to not miss out on this huge market. But until then we can trade with those that offer these services and take advantage of the market, which has turned so many people into millionaires in a short period of time.
The brokers that we mentioned here are well-established market leaders. They provide high-quality services, useful tools, and other relevant services that will help every trader start their crypto adventures. Choosing between these brokers should not be a huge problem as no matter which one you choose, you will receive good service. But there are still some nuances that some traders might prefer, such as Exness social trading, so visit each one of them, look around and only after then choose the one you will be using.
There are few brokers that offer excellent cryptocurrency trading platforms and out of them, XM is probably the best. Owned by a financial powerhouse institution, they have a good history, top-quality security, and great crypto trading options.
Despite being developed with Forex in mind, MetaTrader4 can also be used to trade cryptocurrencies on many different broker platforms. This is good news for Forex traders, who are also interested in crypto as most of them are already well accustomed to MT4.
It depends on the trading style and strategies. The forex market is a stable market with less drastic price changes and stability and is good for long-term investing. Crypto, on the other hand, is highly volatile and can generate good profits in a short amount of time, but it can also generate huge losses if the market goes in the wrong direction.