Top 3 Online Brokers For Cryptocurrency Trading

Top 3 Online Brokers For Cryptocurrency Trading
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The year 2017 has been the year of cryptocurrencies, with Bitcoin reaching an all time high of $6,400.
As the global demand for digital money rises, brokers have joined the cryptocurrency frenzy, ans started making special offers for those wishing to trade digital currencies.

To help in the selection, we have assembled the ultimate list of brokers offering cryptocurrency trading.

AvaTrade

AvaTrade is an online forex and CFD broker that is based in Dublin, Ireland. The minimum deposit to open an account is $100, and you can use the same forex account to trade digital currencues.

AvaTrade offers competitive spreads, with no commissions charged on transactions. With AvaTrade you get up to 20:1 leverage, support in 14 languages, live quotes and charts, and various trading platforms including powerful MT4 platform and AvaTradeGO. Those who choose AvaTrade for their cryptocurrency venture enjoy the opportunity to trade a wide range of the top ranked digital coins 24/7.

eToro

Founded in 2007, eToro is a leading social broker domiciled in Limassol, Cyprus. The minimum deposit to open an account is $50.

eToro currently offers Bitcoin, Ethereum, Ethereum Classic, Litecoin, and Ripple.

Those who choose eToro will benefit from broker’s fast verification procedures, security processes and established reputation.

Plus500

Founded in 2008, Plus500 is one of the best CFD providers in the market. Following industry trends, Plus500 has focused es.pecially on cryptocurrency trading. Traders can open long or short orders on Bitcoin, Ethereum, Litecoin and Ripple, with leverages of 30:1 for Bitcoin and Ethereum, and 10:1 for Ripple and Litecoin. The spreads are very reasonable, but it is importnat to emphasize that overnight positions get hit with a relatively high premium rate.

Why choose broker instead of cryptocurrency exchange?

Many crypto investors still trade with exchanges directly, but on the other hand brokers who added the possibility of cryptocurrency trading have also gained a significant amount of popularity in recent months.

There are several reasons for traders to choose broker over the cryptocurrency exchange, but the one which is especially relevant is user experience.

Namely, most cryptocurrency exchanges were not designed with a simple interface, they offer little support for 3rd party platforms and very limited customer support options.

Online brokers have about 20 years of experience, while cryptocurrency ecosystem is still developing. The main risk for an investor with cryptocurrency exchanges are their possible bankruptcy, hacker attacks, and fraud, while the broker can provide some accountability in such cases.

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