Crypto Exchanges and Brokers 2021
Traders are spoilt for choice when it comes to crypto exchanges and brokers. But the vast selection on offer often means investors are left with a difficult decision. In this review, we unpack the factors every trader should consider in their comparison. Plus, we list the best cryptocurrency brokers in 2021 across the globe, covering those in the UK, Europe, USA, Canada and Australia. Check out the table below for the top-ranked cryptocurrency exchanges.
Crypto Brokers
Trade the major Cryptos against USD, EUR, GBP and AUD. All traded with tight spreads. No virtual wallet required, just a trading account.
Trade the major Cryptos against USD, EUR, GBP and AUD. All traded with tight spreads. No virtual wallet required, just a trading account.
Coinbase offers access to almost 4000 digital coins. It the easiest place to buy, sell, and manage your cryptocurrency portfolio
This post contains affiliate links, and this website will be compensated if you make a purchase after clicking the links.
Coinbase offers access to almost 4000 digital coins. It the easiest place to buy, sell, and manage your cryptocurrency portfolio
This post contains affiliate links, and this website will be compensated if you make a purchase after clicking the links.
Buy and sell an extensive list of leading and emerging crypto coins at Binance.
eToro lead the way in Crypto trading. The lowest spreads (from 1% for BTC), their own wallet service and the largest number of Cryptos to trade. FCA Regulated.
eToro lead the way in Crypto trading. The lowest spreads (from 1% for BTC), their own wallet service and the largest number of Cryptos to trade. FCA Regulated.
Coinmama aim to make entering the crypto market as easy as possible, offering BTC,ETH,LTC,ADA,BCH and XTZ
Coinmama aim to make entering the crypto market as easy as possible, offering BTC,ETH,LTC,ADA,BCH and XTZ
BitMex offer the largest liquidity Crypto trading anywhere. Contracts from $1. Compliant with global AML guidance, the platform offers cutting edge crypto exchange and hedging.
BitMex offer the largest liquidity Crypto trading anywhere. Contracts from $1. Compliant with global AML guidance, the platform offers cutting edge crypto exchange and hedging.
Rockfort Markets are an Auckland based, New Zealand regulated broker, offering CFD trading and a range of cryptos against the USD through its MT4 accounts.
Rockfort Markets are an Auckland based, New Zealand regulated broker, offering CFD trading and a range of cryptos against the USD through its MT4 accounts.
Pocket Option supports five cryptocurrency options assets spanning major tokens and cross pairs.
Pocket Option supports five cryptocurrency options assets spanning major tokens and cross pairs.
Paxful offers buying and selling of the world's leading cryptocurrencies.
Kraken is a top crypto trading exchange offering the largest altcoins by market cap.
Trade over 50 crypto pairs on an extensive list of popular and emerging digital currencies.
Webull offers trading on popular cryptos such as Bitcoin against the US Dollar.
IB Boast a huge market share of global trading. With a minimum deposit of $10,000 however, they remain an option for larger traders only.
IB Boast a huge market share of global trading. With a minimum deposit of $10,000 however, they remain an option for larger traders only.
Zulutrade work with a range of brokers that deliver trading on a huge range of cryptos - See each brand for specifics
Zulutrade work with a range of brokers that deliver trading on a huge range of cryptos - See each brand for specifics
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What Are Cryptocurrencies?
Cryptocurrencies are digital tokens where transactions are recorded on a ledger, known as a blockchain. Their popularity has soared in recent years due to the decentralised nature of the technology that underpins them. All records are verified by the network of users as opposed to a central authority, such as a bank or government. This means they’re considered more democratic than traditional financial services since they are owned and managed by people, rather than organisations.
Bitcoin (BTC) led the way as the first cryptocurrency to soar in price. The first bull run was in 2017 when its value rocketed from less than $1,000 to nearly $20,000. The trend began again in 2020, with BTC reaching over $60,000. It is this volatility that has captured the attention of traders looking to profit from the dramatic price changes. Other popular tokens include Ethereum, Cardano, Polkadot and Litecoin, which are offered by many of the top crypto platforms based in London, Melbourne and beyond.
How To Compare Crypto Brokers
There is a range of factors to consider when selecting the best cryptocurrency broker or an online exchange. There are some minor differences between the two, but increasingly, traditional exchanges are now offering brokerage services, such as leverage and futures. We’ve listed the top things to look out for below.
Tokens
The largest crypto coin brokers offer a wide selection of tokens. Traders should look for brokers that support the top coins by market capitalisation, such as Bitcoin, Ethereum, Cardano and Dogecoin. Depending on your strategy, you may also be interested in up and coming altcoins. These may be undervalued currently, but arguably offer increased profit potential vs well-known coins.
The crypto brokers with the most coins tend to be swap-only platforms, such as SushiSwap and Uniswap. These are truly decentralised exchanges where platform users can recommend listings, meaning new tokens will be available to swap all the time. But while the extensive asset list is great for the diversification of portfolios, traders should also note the downsides. There have been examples of ‘copy coins’ that imitate existing tokens with high value. Plus, deposit methods are restricted to crypto coins only. No fiat currency is exchanged through these platforms at all.
Other popular crypto assets include derivatives such as CFDs, futures and binary options. Some of the most popular brokers, including Binance and Kraken, now offer these in certain jurisdictions. Many traditional stock brokers are now offering crypto products too. Interactive Brokers provides cryptocurrency futures and options. Plus, they’re introducing token trading products in 2021.
Crypto Platforms
The top 5 biggest crypto brokers all use their own proprietary platforms to exchange tokens. In general, they’re extremely user friendly, making them perfect for beginners. In particular, Binance, eToro and Kraken allow trade execution in just a few clicks.
For crypto CFDs, platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5) and TradingView (all traditionally used for forex), are also popular choices. Note that brokers offering cryptos through these platforms are typically selling derivatives, not the underlying asset. While many traders prefer derivatives, it’s important you understand the instrument you’re purchasing.
Mobile apps are available for many of the top cryptocurrency exchanges, allowing on-the-go execution.
Regulation
Regulation of crypto brokers varies globally. Cryptocurrencies are still a new asset in financial services, so many of the top global authorities have not yet determined the scope of their protection.
In most jurisdictions, the exact rules are unclear. In particular, in the US, the Security Exchange Commission (SEC) considers them securities, while the Commodity Future Trading Commission (CFTC) regards them as commodities. Even more confusingly, many of the top crypto brokers do not allow US citizens to trade. Binance has its own site, Binance.US, for clients in the USA, offering limited tokens and functionality, while BitMex banned US citizens in 2015.
In the UK, the FCA has been more transparent. Crypto trading is legal and many of the top brokers are regulated. Crypto derivatives are restricted for retail traders due to the volatility of the underlying asset.
In Australia, ASIC regulation is not as restrictive. There are no bans on derivatives, but leverage is capped at 1:2. Crypto brokers must adhere to Anti-Money Laundering guidelines, in line with forex and stock brokers.
Across the rest of the world, the rules vary. In Dubai (UAE), crypto brokers are banned. However, most other countries, such as Singapore, Nigeria, Kenya, South Africa, and India, have no restrictions at the time of writing.
Margin
Some major crypto brokers now offer leverage as part of their services. In line with most global regulations, this is usually capped at 1:2. However, depending on your jurisdiction, this can vary.
Leverage, also known as margin trading, allows traders to borrow cryptocurrency from brokers to increase their position size. Investors essentially multiply the results of their trades by executing positions at 2 or 3 x what their original deposit would allow.
Cryptocurrencies are volatile markets, so investing with leverage is risky. Losses are multiplied as well as profits, so traders should consider whether they can afford to take the risk.
Fees
Fees are a vital component of crypto broker selection, as high costs can eat into profit margins quickly. Commission usually fits into one of two types: a flat fee per trade or a percentage of volumes traded over a 30-day period. Both operate in a tiered structure, becoming cheaper per trade the more that you execute.
Maker Taker fees are applied if your exchange does not provide its own liquidity. In this case, if you’re adding liquidity to the books, the exchange will encourage this by providing a rebate. If you’re taking liquidity from the market, you’ll be charged a fee, just as you would with any purchase.
Other costs include gas charges (a fee for completing a transaction on the Ethereum blockchain for example), account inactivity fees, or deposit and withdrawal charges.
Payment Methods
Leading crypto brokers that accept multiple payment methods will usually permit one or more of the following:
- Bank wire transfer
- Credit/debit card
- Crypto deposits
- Skrill/Neteller
- PayPal
Note crypto swap platforms, such as SushiSwap and Uniswap only accept crypto deposits. You’ll need to purchase through a broker beforehand and then move your tokens between platforms.
Security
All good crypto brokers will make security a priority. In the past, there have been some high profile exchange hacks that have caused huge losses to users. In 2014, Mt Gox, an exchange that was handling over 70% of all Bitcoin transactions at its peak, closed its doors and went into liquidation. The company announced over 850,000 Bitcoins were stolen, worth over $460,000. Hackers had been skimming Bitcoins from the exchange for years.
More recently, Bithumb, a South Korean exchange, lost around $30 million in XRP to hackers in 2018. This was shortly followed by a suspected inside job hack that cost a further $13 million.
And these stories are not uncommon. Blockchain technology is still fairly new and many exchanges are small in comparison to the tech giants like Facebook and Google. There is not the same investment in security. But in recent years, the tide has begun to turn. Gemini is now insured against hacks by Aon, one of the largest insurance providers in Europe. And many legitimate exchanges are now regulated by national authorities that require certain customer protections.
The safest crypto brokers will provide 2FA, store customer coins in a cold wallet and will invest heavily in security. Despite this, it is recommended to store tokens in an external wallet with your seed code offline.
Other Functionality
Depending on your requirements, traders may also look for some of the following additional services:
- Crypto prime brokers – Coinbase, BitGo and Genesis Capital offer prime brokerage services to institutional traders.
- Hosted wallets – Many cryptocurrency platforms now offer hosted wallets, meaning that hardware or non-custodial wallets are not required.
- Bot services – There are crypto robots available to purchase online that can be tagged onto platforms. While it’s possible to make a profit using bots it’s a service that is plagued by scammers. Traders should be wary of any that claim to provide passive income. Ensure any bots are thoroughly back-tested before investing real funds.
- OTC crypto brokers – Over The Counter (OTC) services may be preferred by clients who are looking to place large trades filled by a single party. There should be no slippage and no limits on trade size.
Crypto Broker Reviews
Use this table with reviews of crypto platforms to compare all the brokers we have analysed. Note that some of these digital currency brokers may not accept new accounts from your country. If we can determine that a broker would not accept your location, it is marked in grey.
| Broker | Demo | Min Dep. | MT4 | Bonus |
|---|---|---|---|---|
| 101investing | Yes | $250 | Yes | No |
| 10TradeFX | Yes | $200 | No | Yes |
| 12Trader | Yes | $500 | No | No |
| 4xCube | Yes | $10 | Yes | No |
| AAAFx | Yes | $300 | Yes | Yes |
| AAATrade | Yes | 0 | No | Yes |
| ACY Securities | Yes | $50 | Yes | No |
| Admiral Markets | Yes | $100 | Yes | No |
| AdroFX | Yes | $25 | Yes | Yes |
| ADS Securities | Yes | $100 | Yes | No |
| AGEA | Yes | $1 | Yes | Yes |
| Alpari | Yes | From $/£/€ 5 | Yes | Yes |
| Alvexo | Yes | 500 EUR/USD | Yes | No |
| AMarkets | Yes | $100 | Yes | Yes |
| Arum Capital | Yes | $500 | No | No |
| AskoBID | No | €250 | No | No |
| Atiora | Yes | $1 | Yes | Yes |
| AvantGardeFX | Yes | $500 | Yes | No |
| Avatrade | Yes | $100 | Yes | No |
| Axes | Yes | $100 | No | No |
| Axi | Yes | 0 $/€/£ | Yes | No |
| Ayondo | Yes | £1 | Yes | No |
| AZAforex | Yes | $1 | No | No |
| BakerySwap | No | 0 | No | Yes |
| Balancer | No | $1 | No | No |
| BCS Forex | Yes | $1 | Yes | Yes |
| BDSwiss | Yes | 100 $/€/£ | Yes | No |
| Binance | No | $0 | No | No |
| Binarium | Yes | $5 | No | No |
| Binary.com | Yes | $5 | Yes | No |
| BinaryCent | Yes | $250 | No | Yes |
| Bitfinex | Yes | $10,000 | No | No |
| Bithoven | Yes | $0 | No | Yes |
| Bitlocus | No | $0 | No | No |
| BitMex | Yes | 0.0001 XBT | No | No |
| Bitvalex | Yes | $50 | No | No |
| Blackwell Global | Yes | $250 | Yes | No |
| BlockFi | Yes | $0 | No | No |
| BP Prime | Yes | $5,000 | Yes | No |
| Brokereo | Yes | $250 | Yes | No |
| Bybit | Yes | $0 | No | No |
| Capex | Yes | $100 | No | Yes |
| Capital.com | Yes | £/$/€20 (Varies by payment method) | Yes | No |
| Celsius | Yes | $0 | No | No |
| Charles Schwab | Yes | $1 | No | No |
| CityIndex | Yes | £/$100 | Yes | Yes |
| CMSTrader | Yes | $500 | No | No |
| CMTrading | Yes | $250 | Yes | No |
| Coinbase | No | 0 $/€/£ | No | Yes |
| CoinMama | Yes | €/£/$100 | No | No |
| CoinTiger | No | $1 | No | No |
| CrescoFX | Yes | $1,000 | Yes | No |
| Crypto.com | No | $0 | No | No |
| Darwinex | Yes | $500 | Yes | No |
| DeltaStock | Yes | $100 | Yes | Yes |
| DMM FX | Yes | Undisclosed | Yes | No |
| Dsdaq | Yes | 0.001 BTC/BCH/LTC | No | Yes |
| Dukascopy | Yes | $100 | Yes | Yes |
| EagleFX | Yes | $10 | Yes | No |
| Easy Markets | Yes | €100 | Yes | No |
| Eightcap | Yes | £/€/$100 | Yes | No |
| ETFinance | Yes | $250 | Yes | No |
| eToro | Yes | $200 ($50 in US) | No | No |
| ETX Capital | Yes | £250 | Yes | No |
| EuropeFX | Yes | €200 | Yes | No |
| EuroTrader | Yes | $0 | Yes | No |
| EverFX | Yes | $250 | Yes | Yes |
| eXcentral | No | $250 | Yes | No |
| Expert Option | Yes | 10 $/€ | No | Yes |
| EZ Invest | Yes | $500 | Yes | No |
| FBS | Yes | $1 | Yes | Yes |
| FIBO Group | Yes | $50 | Yes | No |
| Finalto | Yes | $100 | Yes | Yes |
| Financial Spreads | Yes | £250 | No | No |
| Finexo | Yes | $100 | Yes | No |
| Finq.com | Yes | $100 | Yes | No |
| Finveo | Yes | $100 | Yes | No |
| Forex.com | Yes | $100 | Yes | No |
| ForexChief | Yes | $10 | Yes | Yes |
| ForexMart | Yes | 1 EUR/USD | Yes | Yes |
| ForexTB | Yes | $250 | Yes | No |
| FortFS | Yes | $5 | Yes | Yes |
| Fortrade | Yes | $100 | Yes | No |
| FP Markets | Yes | $100 | Yes | No |
| FreshForex | Yes | $10 | Yes | Yes |
| FTX | No | $1 | No | No |
| Fulcrum | No | $0 | No | No |
| Fusion Markets | Yes | $0 | Yes | No |
| FXChoice | Yes | $100 | Yes | Yes |
| FXCL | Yes | $1 | Yes | No |
| FXCM | Yes | £300 | Yes | No |
| FXFlat | Yes | €200 | Yes | No |
| FxGlory | Yes | $1 | Yes | Yes |
| FXGM | No | $200 | No | No |
| FxOnUs | No | $100 | Yes | Yes |
| FXOpen | Yes | $300 | Yes | Yes |
| FXPrimus | Yes | $100 | Yes | No |
| FXPro | Yes | $100 | Yes | No |
| FXTrading.com | Yes | $200 | Yes | Yes |
| Gate.io | Yes | $0 | No | No |
| Gemini | No | $0 | No | No |
| Genesis | Yes | $75,000 | No | No |
| GKFX | Yes | €100 | Yes | No |
| Global Prime | Yes | AUD $200 | Yes | No |
| GO Markets | Yes | $200 | Yes | Yes |
| GoStreams | Yes | $100 | Yes | No |
| Grand Capital | Yes | $10 | Yes | Yes |
| HFTrading | Yes | $250 | Yes | No |
| Hodl Hodl | No | No | No | No |
| Hugo's Way | Yes | $50 | Yes | No |
| Huobi | Yes | $100 | No | Yes |
| IC Markets | Yes | $200 | Yes | No |
| ICE FX | Yes | $30 | Yes | No |
| IFC Markets | Yes | 1 USD / 1 EUR / 100 JPY | Yes | Yes |
| IFGM | Yes | $200 | Yes | No |
| iFOREX | Yes | $100 | No | No |
| IMMFX | Yes | 50 USD | Yes | Yes |
| InstaForex | Yes | €100 to €50000 (Account choice dependent) | Yes | No |
| Interactive Brokers | Yes | $10000 | No | No |
| Invest Voyager | No | $10 | No | No |
| Investous | Yes | $250 | Yes | No |
| IQ Option | Yes | $10 | No | No |
| IronFX | Yes | $100 | Yes | Yes |
| ITradeFX | Yes | $0 | No | No |
| JFD Bank | Yes | $500 | Yes | No |
| JP Markets | Yes | $0 | Yes | Yes |
| Just2Trade | Yes | $100 | Yes | No |
| JustForex | Yes | $1 | Yes | Yes |
| Key To Markets | Yes | $100 | Yes | No |
| Kraken | Yes | 0.0001 XBT | No | No |
| Kucoin | Yes | $0 | No | Yes |
| Kyber Network | No | $0 | No | No |
| LegacyFX | Yes | $500 | No | No |
| LH Crypto | Yes | €10 | No | No |
| Libertex | Yes | €100 | Yes | No |
| LidyaTrade | Yes | $300 | No | Yes |
| Lightspeed Trading | Yes | $10,000 | No | No |
| LiteForex Investments | Yes | $50 | Yes | Yes |
| LocalBitcoins | No | 0.0005 BTC | No | No |
| LocalCoinSwap | No | $0 | No | No |
| LocalCryptos | No | $1 | No | No |
| Luno | No | £1 | No | No |
| Markets.com | Yes | $100 | Yes | No |
| Mitrade | Yes | $0 | No | Yes |
| Moneta Markets | Yes | $200 | Yes | Yes |
| MultiBank FX | Yes | $50 | Yes | Yes |
| Naga | Yes | $250 | Yes | No |
| Nexo | Yes | $10 | No | No |
| nextmarkets | Yes | $0 | No | No |
| NiceHash | Yes | €1 | No | No |
| NordFX | Yes | $10 | Yes | No |
| NPBFX | Yes | $10 | Yes | Yes |
| Nuo | Yes | No | Yes | No |
| Oanda | Yes | $0 | Yes | No |
| OBR Invest | Yes | $250 | Yes | No |
| OctaFX | Yes | $100 | Yes | Yes |
| OKEx | Yes | 10 USDT | No | Yes |
| Olymp Trade | Yes | €/$10 | No | No |
| OpoForex | Yes | $100 | Yes | Yes |
| Optimus Futures | Yes | $500 | Yes | No |
| OspreyFX | Yes | $25 | Yes | No |
| Pacific Union | Yes | $50 | Yes | Yes |
| PancakeSwap | No | $1 | No | No |
| Passfolio | No | $1 | No | No |
| PaxForex | Yes | $10 | Yes | Yes |
| Paxful | No | From 0.005 BTC | No | No |
| Pepperstone | Yes | £200 / $200 | Yes | No |
| Pionex | No | $0 | No | No |
| Plus500 | Yes | $100 | No | No |
| Pocket Option | Yes | $50 | No | Yes |
| PrimeXBT | No | 0.001 BTC | No | No |
| ProfitiX | No | $250 | No | No |
| Q8 Trade | Yes | $250 | Yes | Yes |
| Quotex | Yes | $10 | No | Yes |
| Remitano | No | No | No | No |
| RoboForex | Yes | $10 | Yes | Yes |
| Rockfort Markets | Yes | $200 | Yes | Yes |
| ROInvesting | Yes | $250 | Yes | No |
| Sage FX | Yes | $10 | Yes | Yes |
| Sheer Markets | Yes | $200 | Yes | No |
| SimpleFX | Yes | $0 | Yes | Yes |
| Skilling.com | Yes | 100 £/€/$ or 1000 NOK, SEK | Yes | No |
| SoFi Invest | No | $0 | No | No |
| Spectre.ai | Yes | $0 | No | No |
| Spreadex | No | $1 | No | No |
| SquaredFinancial | Yes | $100 | Yes | No |
| StormGain | Yes | 50 USDT | No | Yes |
| Superforex | Yes | $1 | Yes | No |
| SushiSwap | Yes | Variable | No | No |
| Switch Markets | Yes | $50 | Yes | Yes |
| Swyftx | Yes | $30 | No | No |
| Tastyworks | No | $0 | No | No |
| TeleTrade | Yes | 100 EUR/USD | Yes | No |
| ThinkMarkets | Yes | $0 | Yes | No |
| Tier1FX | Yes | $1,000 | Yes | No |
| TIO Markets | Yes | $50 | Yes | No |
| TMGM | Yes | $100 | Yes | No |
| TMS Brokers | Yes | $0 | No | No |
| TP Global FX | Yes | $200 | Yes | Yes |
| Trade Republic | No | $0 | No | No |
| Trade.com | Yes | $100 | Yes | No |
| Trader's Way | Yes | $10 | Yes | Yes |
| TradeTime | Yes | $500 | Yes | Yes |
| Tradeview | Yes | $100 | Yes | Yes |
| Trading212 | Yes | €/£/$1 | No | No |
| TrioMarkets | Yes | $500 | Yes | Yes |
| Unidex | No | $43 | No | No |
| Uptos | No | $250 | No | No |
| Videforex | Yes | $250 | No | Yes |
| WazirX | No | INR 100 | No | No |
| Wealthfront | Yes | $1 | No | No |
| Webull | Yes | $0 | No | Yes |
| Weltrade | Yes | $25 | Yes | No |
| XBTFX | Yes | $5 | Yes | No |
| XTB | Yes | $0 | No | No |
| Zero Markets | Yes | $200 | Yes | Yes |
| ZuluTrade | Yes | $1 to $300 (Broker choice dependent) | Yes | No |
FAQs
How Do Crypto Brokers Work?
Most crypto online brokers offer the opportunity to purchase tokens using fiat currency through pairs such as USD/BTC. Prices are based on the supply and demand of the token, aided by arbitrage traders who help ensure it is kept stable across exchanges.
How Reliable Are Crypto Brokers?
With the rise in the value of cryptocurrencies, there are a number of new crypto platforms in the market. However, not all are equal in terms of service and security. There are reliable crypto brokers out there that prioritise customer service, but traders should do their own research before investing. See our list of top exchanges to get started.
Are Cryptocurrency Exchanges Regulated?
Yes, many of the top global crypto exchanges are regulated. Look for exchanges registered with the FCA, ASIC, CySEC or FINCEN. These are some of the most stringent authorities that prioritise retail client safety.
What Are The Crypto Brokers With The Lowest Fees?
Do Crypto Brokers Offer Leverage?
Yes, there are crypto brokers that offer leveraged trading opportunities. Rates are usually capped at around 2x your deposit amount, however, some exchanges offer 1:5 leverage on certain assets. See our table of top-rated exchanges to get started.