Crypto Brokers and Exchanges 2022

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 2022 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

  1. Trade the major cryptos against USD, EUR, GBP and AUD. All traded with tight spreads. No virtual wallet required, just a trading account. Note, cryptos are not available in the US or Canada.

    Forex.com Crypto Trading

    Forex.com offers trading on 5 crypto coins: BCH, BTC, ETH, LTC, XRP

    Crypto Spread
    BTC 1.4%, ETH 2%
    Crypto Lending
    No
    Platforms
    MT4
    Crypto Staking
    No
    Minimum Deposit
    $100
    Regulator
    CySEC, IIROC, NFA, CFTC, FCA, CIMA
  2. Trade micro Bitcoin with low fees

    NinjaTrader Crypto Trading

    NinjaTrader offers trading on 1 crypto coin: BTC

    Crypto Spread
    Floating
    Crypto Lending
    No
    Platforms
    Own
    Crypto Staking
    No
    Minimum Deposit
    $50
    Regulator
    NFA, CFTC
  3. Uphold offers trading on more than 100 crypto assets including via crypto-only pairs and crypto-fiat cross pairs.

    Uphold Crypto Trading

    Uphold offers trading on at least 96 crypto coins, for example: AAVE, ADA, ALCX, ALGO, API3, ATOM, AUDIO, AVAX, AXS, BAL, BAT, BCH, BTC, BTCO, CAKE, CHR, DAO, DYDX, ETH, GHST, GLMR, GODS, INH, LSK, NMR, REQ, ROOK, TRB, XRP, XYO

    Crypto Spread
    0.5% to 1% average
    Crypto Lending
    No
    Platforms
    Own
    Crypto Staking
    Yes
    Minimum Deposit
    $0
    Regulator
    FCA, FinCEN
  4. Trade four major cryptocurrencies paired with USD

    IG Group Crypto Trading

    IG Group offers trading on 4 crypto coins: BCH, BTC, ETH, LTC

    Forex trading involves risk. Losses can exceed deposits

    Crypto Spread
    Variable
    Crypto Lending
    No
    Platforms
    MT4
    Crypto Staking
    No
    Minimum Deposit
    £250
    Regulator
    FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin
  5. Coinmama aim to make entering the crypto market as easy as possible, offering big tokens like Bitcoin and Ethereum

    Coinmama Crypto Trading

    Coinmama offers trading on 9 crypto coins: BCH, BTC, DOGE, ETH, LINK, LTC, UNI, XRP, XTZ

    Crypto Spread
    From 2.93% to 3.90%. Express fees of 0-5.00% also apply.
    Crypto Lending
    No
    Platforms
    Own
    Crypto Staking
    No
    Minimum Deposit
    $30
    Regulator
    FinCEN, FINTRAC
  6. Pionex is an automated crypto trading platform with built-in bots and a wide range of tokens.

    Pionex Crypto Trading

    Pionex offers trading on at least 229 crypto coins, for example: AAVE, ADA, ALICE, AXS, BAKE, BCH, BTC, BTT, BUSD, CAKE, DOGE, DOT, EOS, ETC, ETH, FIL, HT, ICP, JST, LINK, LTC, NFT, PUNDIX, SNX, SUN, TFUEL, TRX, UNI, WIN, XRP

    Crypto Spread
    Market
    Crypto Lending
    No
    Platforms
    Own
    Crypto Staking
    No
    Minimum Deposit
    $0
    Regulator
    FinCEN
  7. Build custom crypto portfolios and select from the broker's expert pies.

    M1 Finance Crypto Trading

    M1 Finance offers trading on 8 crypto coins: ADA, ALDO, ATOM, AVE, BAT, BTC, ETH, LINK

    Crypto Spread
    Variable
    Crypto Lending
    No
    Platforms
    Own
    Crypto Staking
    No
    Minimum Deposit
    $100 ($500 for IRA)
    Regulator
    FINRA, SEC
  8. Paxful offers buying and selling of the world's leading cryptocurrencies.

    Paxful Crypto Trading

    Paxful offers trading on 3 crypto coins: BTC, ETH, USDT

    Crypto Spread
    Rates set by vendors
    Crypto Lending
    No
    Platforms
    Own
    Crypto Staking
    No
    Minimum Deposit
    From 0.005 BTC
    Regulator
    -
  9. Invest in cryptocurrency via OTC Trusts, ETFs, mutual funds and Bitcoin futures

    TD Ameritrade Crypto Trading

    TD Ameritrade offers trading on 4 crypto coins: BTC, ETH, MBT, MET

    Crypto Spread
    Commission fees apply
    Crypto Lending
    No
    Platforms
    Own
    Crypto Staking
    No
    Minimum Deposit
    $0
    Regulator
    SEC, FINRA, CFTC
  10. 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.

    Interactive Brokers Crypto Trading

    Interactive Brokers offers trading on 4 crypto coins: BTC, ETH, LTC, XRP

    Crypto Spread
    -
    Crypto Lending
    No
    Platforms
    AlgoTrader, OmniTrader
    Crypto Staking
    No
    Minimum Deposit
    $10000
    Regulator
    SEC, FCA, IIROC, SFC

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.

best crypto brokers in India and New York

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.

Top crypto brokers in Netherlands and Canada
Kraken Mobile App

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 brokersCoinbase, 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.

Crypto Broker Reviews
Broker Demo Min Dep. MT4 Bonus
10TradeFX Yes $200 No Yes
12Trader Yes $500 No No
4xCube Yes $10 Yes No
AAAFx Yes $10 Yes Yes
AAATrade Yes 0 No Yes
Absolute Markets Yes $50 Yes Yes
ActivTrades Yes $10 Yes 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 $5 Yes Yes
Alvexo Yes 500 EUR/USD Yes No
AMarkets Yes $100 Yes Yes
AMP Global Yes $100 No No
Arum Capital Yes $500 No No
AskoBID No €250 No No
ATFX Yes 5000 $/€/£ Yes No
AvantGardeFX Yes $500 Yes No
AvaTrade Yes $100 Yes Yes
Axes Yes $100 No No
Axi Yes 0 $/€/£ Yes No
Ayondo Yes $100 No Yes
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 Yes Yes
Bithoven Yes $0 No Yes
Bitlocus No $0 No No
BitMEX Yes $0.01 No Yes
Bitvalex Yes $50 No No
BlackBull Markets Yes $0 Yes No
Blackwell Global Yes $250 Yes No
BlockFi Yes $0 No No
Blueberry Markets Yes $100 Yes No
BP Prime Yes $5,000 Yes No
Brokereo Yes $250 Yes No
Bybit Yes $0 Yes Yes
Capex Yes $100 No Yes
Capital.com Yes £/$/€20 (By credit card - varies by payment method) Yes No
Celsius Yes $0 No No
Charles Schwab Yes $1 No No
CityIndex Yes £/$100 (varies by location) Yes No
CLMarkets Yes $100 Yes No
CMSTrader Yes $500 No No
CMTrading Yes $100 Yes No
Coinbase No $0 No Yes
Coinmama No $30 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
Dove Options No 500 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 $10 No No
EuropeFX Yes €200 Yes No
EuroTrader Yes $0 Yes No
EverFX Yes $250 Yes Yes
eXcentral No $250 Yes No
Exness Yes $10 Yes No
Expert Option Yes $10 No Yes
EZ Invest Yes $500 Yes No
Fair Forex Yes $50 Yes No
FairMarkets Yes $0 Yes No
FBS Yes $1 Yes Yes
FIBO Group Yes $50 Yes No
Financial Spreads Yes £250 No No
Finexo Yes $100 Yes No
FinPros Yes $100 No No
Finq.com Yes $100 Yes Yes
Finveo Yes $100 Yes No
Firstrade No $0 No Yes
Focus Option Yes $10 No No
Forex.com Yes $100 Yes Yes
ForexChief Yes $10 Yes Yes
ForexMart Yes 1 EUR/USD Yes Yes
ForexTB Yes $250 Yes No
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
FXCC Yes $0 Yes Yes
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 $1 Yes No
FXPrimus Yes $15 Yes Yes
FxPro Yes $100 Yes No
FXTrading.com Yes $200 Yes Yes
Fxview Yes $200 EU clients, $50 global clients Yes No
Gate.io Yes $0 No No
GC Option Yes $10 Yes Yes
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
Hantec Markets Yes $10 Yes No
Hodl Hodl No No No No
Hugo's Way Yes $50 Yes No
Huobi Yes $100 No Yes
HYCM Yes $100 Yes 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
IG Group Yes £250 Yes No
IMMFX Yes 50 USD Yes Yes
InstaForex Yes $/€1 Yes Yes
Interactive Brokers Yes $10000 No No
Invest Voyager No $10 No No
IQ Option Yes $10 No No
IQCent Yes $50 No Yes
ITradeFX Yes $0 No No
JFD Bank Yes $500 Yes No
JP Markets Yes $0 Yes Yes
Just2Trade Yes $100 Yes Yes
JustMarkets Yes $1 Yes Yes
Key To Markets Yes $100 Yes No
Kraken Yes $10 No Yes
Kucoin Yes $0 No Yes
Kyber Network No $0 No No
LegacyFX Yes $500 No No
LH Crypto Yes €10 No No
LidyaTrade Yes $300 No Yes
Lightspeed Financial Yes $10,000 No No
LiteFinance Yes $50 Yes Yes
LocalBitcoins No 0.0005 BTC No No
LocalCoinSwap No $0 No No
LocalCryptos No $1 No No
LonghornFX Yes $0 Yes No
LQDFX Yes $20 Yes Yes
Luno No £1 No No
M1 Finance Yes $100 ($500 for IRA) No Yes
M4Markets Yes $5 Yes Yes
Markets.com Yes $100 Yes No
Mitrade Yes $0 No Yes
Moneta Markets Yes $50 Yes Yes
MultiBank FX Yes $50 Yes Yes
Naga Yes $250 Yes Yes
Nexo Yes $10 No Yes
nextmarkets Yes $0 No No
NiceHash Yes €1 No No
NinjaTrader Yes $50 No No
NordFX Yes $10 Yes Yes
NPBFX Yes $10 Yes Yes
Nuo Yes No Yes No
OBR Invest Yes $250 Yes No
OctaFX Yes $100 Yes Yes
OKX Yes 10 USDT No Yes
Olymp Trade Yes $10 No No
OpoForex Yes $100 Yes Yes
Optimus Futures Yes $500 Yes No
OspreyFX Yes $50 Yes Yes
Oval X Yes £250 Yes No
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 $500 recommended Yes No
Pionex No $0 No No
Plynk Invest No $0 No Yes
Pocket Option Yes $50 No Yes
PrimeXBT No 0.001 BTC No No
ProfitiX No $250 No No
ProOption24 Yes $200 No Yes
PU Prime Yes $50 Yes Yes
Public.com Yes $0 No No
Quotex Yes $10 No Yes
RaceOption Yes $250 No Yes
Remitano No No No No
Revolut No $0 No No
Robinhood No $0 No No
RoboForex Yes $10 Yes Yes
Rockfort Markets Yes $200 Yes Yes
Sage FX Yes $10 Yes Yes
Sheer Markets Yes $200 Yes No
SimpleFX Yes $0 Yes No
Skilling Yes 100 EUR/USD/GBP or 1000 NOK/SEK Yes Yes
SoFi Invest No $0 No No
SolidusX No $500 No Yes
Spectre.ai Yes $0 No No
Spreadex No £0 No Yes
SquaredFinancial Yes $100 Yes No
StormGain Yes $50 No Yes
SuperForex Yes $1 Yes Yes
SushiSwap Yes Variable No No
Swissquote Yes $1000 Yes No
Switch Markets Yes $50 Yes Yes
Swyftx Yes $30 No No
Tastyworks No $0 No No
TD Ameritrade Yes $0 No No
TeleTrade Yes 100 EUR/USD Yes No
Templer FX Yes $1 Yes Yes
ThinkMarkets Yes $0 Yes No
Tier1FX Yes $1,000 Yes No
TIO Markets Yes $50 Yes No
Tixee Yes $10 Yes Yes
TMGM Yes $100 Yes Yes
TMS Brokers Yes $0 No No
TopFX No $50 Yes Yes
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
TrioMarkets Yes $500 Yes No
Unidex No $43 No No
Uphold Yes $0 No No
Uptos No $250 No No
VALR No $0 No Yes
Vantage Yes $200 Yes Yes
Vault Markets No $5 Yes Yes
Videforex Yes $250 No Yes
WazirX No INR 100 No No
Wealthfront Yes $1 No No
Wealthsimple No $1 No No
Webull Yes $0 No Yes
Weltrade Yes $25 Yes No
World Forex Yes $1 Yes Yes
XBTFX Yes $5 Yes No
XE Prime Yes $50 No Yes
XM Yes 5 $/€/£ Yes Yes
XTB Yes $0 No Yes
Zacks Trade Yes $2500 No No
Zero Markets Yes $200 Yes Yes
ZuluTrade Yes Varies depending on broker, minimum balance $100 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?

Binance and Kraken have some of the lowest fees in the market. However, it’s important to take your investing strategy into account. Day traders may prefer a different fee structure to those that are looking to hold tokens long-term.

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.