Best Crypto Brokers and Trading Platforms in 2024

Written By

Michael MacKenzie

Written By

Michael MacKenzie

Michael is a writer and editor with over a decade in journalism and publishing. His niche lies in editing and fact-checking content in the financial services sector, with a focus on online brokers and trading platforms. Michael previously reported on politics and economics in the Middle East and edits books for established publishers.

» Michael MacKenzie Profile Page

Edited By

James Barra

Edited By

James Barra

James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.

» James Barra Profile Page

Updated

Feb 7, 2024

Crypto brokers offer a way to trade cryptocurrencies like Bitcoin that’s safer than directly buying and selling tokens on exchanges, many of which we’ve seen go bankrupt following high-profile scandals.

We’ve evaluated dozens of platforms to find you the best cryptocurrency brokers, taking into account:

Best Brokers For Cryptocurrency Trading In 2024

Our exhaustive reviews show that these are the 5 best crypto brokers and trading platforms in April 2024. Every cryptocurrency broker listed we assessed using either a real money or test account.

1. eToro - eToro leads the way in cryptocurrency trading, offering competitive spreads and a fixed 1% commission, plus their own wallet service. The broker offers a vast list of 95+ tokens which is continually being updated. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
2. InstaForex
3. AvaTrade - Regulated in five continents, AvaTrade offers a secure way to access crypto markets. There's a great range of digital currencies including Bitcoin, Ethereum and Ripple, plus a crypto index. You can access competitive crypto spreads in the broker's wide choice of platforms as well as 1:2 leverage.
4. OANDA US - You can speculate on the world’s biggest cryptos by market cap. Commissions are lower than many peers starting at 0.25%. Through the broker’s partnership with Paxos, clients can spot trade cryptocurrencies on the itBit exchange through the OANDA native platform.
5. Eightcap - Eightcap’s crypto offering is best-in-class with 250+ crypto derivatives, surpassing that of almost every alternative. Testing also reveals Bitcoin spreads of 12 pips, coming in lower than most competitors, while it offers real-time trading ideas through the Crypto Crusher market scanner. Add in convenient deposits and withdrawals in digital currencies, and Eightcap offers the complete package for serious crypto traders.

Best Crypto Brokers and Trading Platforms in 2024 Comparison

Best Crypto Brokers and Trading Platforms in 2024 Comparison

Broker	Bitcoin Trading	Crypto Spread	Crypto App	Minimum Deposit	Visit
	✔	BTC 1%	iOS & Android	$50	Visit
	✔	0.1%	iOS and Android + browser based platform	-	Visit
	✔	BTC <1%, ETH 2%	iOS & Android	-	Visit
	✔	$100	iOS & Android	$0	Visit
	✔	$12 (BTC)	iOS & Android	$100	Visit
	✔	Up to 1.5%	iOS & Android	$0	Visit
	✔	BTC 42.036	iOS & Android	$200	Visit
	✔	From 1.0	iOS & Android	$10	Visit
	✔	Variable	iOS, Android & Windows	$5	Visit
	✔	Variable	Android & iOS	10 USDT	Visit
	✔	0.22%	iOS & Android	$0	Visit
	✔	BTC 0.5	iOS & Android	-	Visit
	✔	BTC 7%, ETH 12% (Var)	iOS, Android and Windows	$10	Visit
	✔	Variable	iOS & Android	$0	Visit
	✔	Floating	iOS & Android	$50	Visit

#1 - eToro

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Review

Why We Chose eToro

eToro leads the way in cryptocurrency trading, offering competitive spreads and a fixed 1% commission, plus their own wallet service. The broker offers a vast list of 95+ tokens which is continually being updated. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

"eToro's social trading platform leads the pack with a terrific user experience and active community chat that can help beginners find opportunities. There are also competitive fees on thousands of CFDs and real stocks, plus excellent rewards for experienced strategy providers."

- DayTrading Review Team

• Coins: BTC, ETH, BCH, XRP, DASH, LTC, ETC, API3, CRO, SKL, IMX, ADA, MIOTA, XLM, EOS, NEO, TRX, ZEC, BNB, XTZ, DOT, MKR, COMP, LINK, UNI, YFI, DOGE, AAVE, FIL, ALGO, ATOM, MANA, APE, LRC, ENJ, BICO, BAT, BNT, OGN, MATIC and many more
• Crypto Mining: No
• Auto Market Maker: No
• Crypto Spread: BTC 1%
• Crypto Lending: No
• Crypto Staking: Yes
• Platforms: eToro Web, CopyTrader, TradingCentral
• Minimum Deposit: $50
• Regulator: FCA, ASIC, CySEC, FSA, FSRA, MFSA

About eToro

eToro is a top-rated multi-asset platform which offers trading services in thousands of CFDs, stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. The brand is particularly popular for its comprehensive social trading platform. Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply. 76% of retail accounts lose money.

Pros

• Exciting investment portfolios are available covering traditional market trends as well as tech, crypto and more
• The broker's services are great for beginners, with commission-free stock trading, a low minimum deposit and an unlimited demo
• The copy trading app facilitates a best-in-class social environment, with an engaging social feed and community chat

Cons

• There is a $30 minimum withdrawal amount and a $5 fee, which will affect novices with low capital
• There are limited contact methods aside from the in-platform live chat
• The lack of additional charting platforms like MT4 will reduce the appeal for seasoned day traders accustomed to using third-party software

Visit eToro

#2 - InstaForex

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Review

Why We Chose InstaForex

InstaForex is a forex and CFD broker founded in 2007. The broker offers diverse market coverage to over 7 million clients, spanning traditional assets like currencies and shares, as well as other interesting opportunities such as IPOs. Traders can also access copy trading services, PAMM accounts and investment opportunities. InstaForex is regulated by the BVI FSC.

"InstaForex maintains its position as a top forex broker, with more currency products than most rivals. The tight spreads and low minimum deposits make it accessible to all experience levels, especially those familiar with the MT4 and MT5 platforms."

- DayTrading Review Team

• Coins: BCH, BTC, ETH, LTC, XRP, and50+more
• Crypto Mining: No
• Auto Market Maker: No
• Crypto Spread: 0.1%
• Crypto Lending: No
• Crypto Staking: No
• Platforms: MT4, MT5

Pros

• InstaForex has a strong industry reputation, with a 15+ year history and serving over 7 million clients
• InstaForex delivers a superb day trading environment, with the powerful MT4 and MT5 platforms offering dozens of technical analysis tools, automation capabilities and multiple order types
• There’s a decent range of free and fast payment methods including local bank transfers, bank cards, e-wallets and cryptos

Cons

• The broker’s global branch offers weaker regulation via the offshore jurisdiction of the British Virgin Islands, which means non-EU traders will receive limited safeguards
• The broker’s website and client cabinet feel outdated and difficult to navigate for newcomers
• Market coverage and account conditions vary significantly between the global and EU entities - for example, only 300+ instruments are available for global clients, whilst European traders can access 2500+

Visit InstaForex

#3 - AvaTrade

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Review

Why We Chose AvaTrade

Regulated in five continents, AvaTrade offers a secure way to access crypto markets. There's a great range of digital currencies including Bitcoin, Ethereum and Ripple, plus a crypto index. You can access competitive crypto spreads in the broker's wide choice of platforms as well as 1:2 leverage.

"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."

- DayTrading Review Team

• Coins: BCH, BTC, BTG, ETH, LTC, XRP, EOS, DASH
• Crypto Mining: No
• Auto Market Maker: No
• Crypto Spread: BTC <1%, ETH 2%
• Crypto Lending: No
• Crypto Staking: No
• Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
• Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM

About AvaTrade

AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.

Pros

• AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more
• Day traders can access stable spreads and zero commissions with no hidden fees
• The broker offers reliable 24/5 multilingual customer support with fast response times during testing

Cons

• A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
• It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here
• There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders

Visit AvaTrade

#4 - OANDA US

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Review

Why We Chose OANDA US

You can speculate on the world’s biggest cryptos by market cap. Commissions are lower than many peers starting at 0.25%. Through the broker’s partnership with Paxos, clients can spot trade cryptocurrencies on the itBit exchange through the OANDA native platform.

"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."

- DayTrading Review Team

• Coins: BTC, ETH, LTC, BCH, PAXG, LINK, UNI, AAVE
• Crypto Mining: No
• Auto Market Maker: No
• Crypto Spread: $100
• Crypto Lending: No
• Crypto Staking: No
• Platforms: OANDA Trade, MT4, TradingView, AutoChartist
• Minimum Deposit: $0
• Regulator: NFA, CFTC

About OANDA US

OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.

Pros

• The proprietary OANDA web platform continues to deliver a highly competitive charting environment, including 65+ technical indicators powered by TradingView
• The broker offers a transparent pricing structure with no hidden charges
• The broker's API facilitates access to 25 years of deep historical data and rates from 200+ currencies

Cons

• The range of day trading markets is limited to forex and cryptos only
• There's only a small range of payment methods available, with no e-wallets supported
• It's a shame that customer support is not available on weekends

Visit OANDA US

#5 - Eightcap

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Review

Why We Chose Eightcap

Eightcap’s crypto offering is best-in-class with 250+ crypto derivatives, surpassing that of almost every alternative. Testing also reveals Bitcoin spreads of 12 pips, coming in lower than most competitors, while it offers real-time trading ideas through the Crypto Crusher market scanner. Add in convenient deposits and withdrawals in digital currencies, and Eightcap offers the complete package for serious crypto traders.

"Eightcap delivers in every area for day traders with a growing selection of charting platforms and AI-powered tools. Now sporting 250+ crypto CFDs and the Crypto Crusher market scanner, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."

- DayTrading Review Team

• Coins: BTC, ETH, LTC, BCH, XRP, XMR, DSH, EOS, XLM, ADA, TRX, DOGE, BNB, DOT, MATIC, VET, AXS, NEO, SOL, UNI, AAVE, KSM, THETA, CAKE, SUSHI, ATOM, XTZ, SNX, COMP, FLOW, EGLD, PUNDIX, RAY, ZIL, QTUM, BAND, OMG, FIDA, BADGER, NEAR and many more
• Crypto Mining: No
• Auto Market Maker: No
• Crypto Spread: $12 (BTC)
• Crypto Lending: No
• Crypto Staking: No
• Platforms: MT4, MT5, TradingView
• Minimum Deposit: $100
• Regulator: ASIC, FCA, xCySEC, SCB

Pros

• Eightcap stands out with a selection of powerful trading tools, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.
• After bolstering its roster in 2021, Eightcap offers one of the most extensive selections of cryptocurrency CFDs in the market, with crypto/fiat pairs, crypto/crypto pairs, plus crypto indices for broader exposure to the market.
• Having excelled across all key areas for day traders, Eightcap outperformed more than 490 competitors to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title.

Cons

• The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode.
• Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.
• In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders.

Visit Eightcap

Regulatory variations may result in the unavailability of specific crypto brokers in some regions.

How Did DayTrading.com Choose The Best Crypto Brokers?

Find out more about how we test.

What Is A Crypto Broker?

Crypto brokers provide an online platform to trade cryptocurrencies such as Bitcoin (BTC).

Unlike crypto exchanges that are generally used to buy and sell digital currencies directly and often operate with little to no regulatory oversight, brokers can be established firms that deal in other asset classes and have obtained multiple regulatory licenses, so we consider them as a more reliable and trustworthy way to trade cryptocurrencies.

Some cryptocurrency brokers may allow traders to directly buy and sell the crypto tokens, but most will provide trading through derivatives like CFDs.

These derivatives typically allow for leveraged trading, meaning you can magnify your profits (or losses) by a factor, though this is often at levels far below those mandated for other assets due to crypto’s volatility.

For example, the majority of crypto brokers we’ve reviewed offer 1:2 leverage on cryptocurrencies, while retail trading on traditional currencies is often available up to 1:30 in major jurisdictions like Europe.

Should I Trade With A Crypto Broker Or Crypto Exchange?

Crypto exchanges like Binance offer popular ways to trade tokens, since their clients can place buy and sell orders in the same way as you would on a stock exchange.

In addition, some exchanges offer margin trading and decentralized finance (DeFi) functionality that lets you put your digital assets to work.

So, why sign up with crypto brokers?

There are many good reasons – and foremost among them is safety. From the 2014 collapse of the Mt. Gox exchange to 2022’s FTX fiasco, the largely unregulated exchanges have time and again fallen foul of poor management, unscrupulous business practices or bankruptcy, losing clients’ assets worth billions.

Brokers offer similar services to exchanges, but many are overseen by reputable regulators, reducing the risk factor in our view. Although, it’s important to note that not every cryptocurrency broker is regulated for their activities in digital currency trading.

Since they are generally not wholly invested in the crypto sector, online brokers are also usually better able to withstand the crypto markets’ wild swings. eToro, for example, offers stocks and commodities as well as cryptocurrencies.

Finally, many cryptocurrency brokers offer derivative products such as CFDs or binary options that can be difficult to find on an exchange. These allow you to make leveraged bets on crypto assets without having to actually purchase and hold them – meaning you don’t need to worry about an exchange being hacked or about keeping their crypto keys safe.

What Do I Need To Start Trading Crypto?

The first step is to open an account with brokers that offers cryptocurrency trading.

As part of the sign-up process, you will normally need to provide contact details, verify your identity and make a minimum deposit (typically ranging from $0 to $500).

Most cryptocurrency brokers then offer the opportunity to trade tokens using fiat currency through pairs such as USD/BTC.

When you have decided on a crypto you want to trade, you can place an order directly through your brokerage platform or mobile app.

Whether you make a profit or loss, and the size, will depend on the direction and extent the market moves when you close the trade, as well as any fees.

Bottom Line

Crypto brokers offer an excellent way to make short-term trades on digital assets, benefiting from the market’s notorious volatility while avoiding some of the risks associated with crypto exchanges.

Which crypto brokerage you choose to trade with is ultimately a personal decision. However, you can use our list of the best crypto brokers to find the right firm for your needs.

FAQ

Can Crypto Brokers Be Trusted?

We see crypto brokers as a step up from exchanges in terms of security since they tend to have better regulatory oversight and a longer track record.

That said, not all crypto brokers are necessarily regulated for their digital currency operations. Also, not all brokerages are equal in terms of service and security.

You should deal with one that is reputable and trusted.

Do Crypto Brokers Offer Leverage?

Yes, there are online crypto brokers that offer leverage. Rates are usually capped at around 2x (1:2) your deposit amount, however, some firms offer up to 5x (1:5) leverage on certain digital assets.

It’s worth noting that some regulators, including the UK’s FCA, have imposed blanket restrictions banning leverage for crypto markets.

Which Is The Best Crypto Broker For Day Trading?

Our analysis shows that AvaTrade, OANDA, Eightcap, IC Markets and NordFX are all excellent brokers for day trading cryptocurrencies. They offer a good range of digital currencies including Bitcoin, low fees, great charting tools, access to leverage, and are trusted.