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Dogecoin Trading – Tutorial and Brokers

Written By

Michael MacKenzie

Written By

Michael MacKenzie

Michael is a writer, editor and broker reviewer 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

Tobias Robinson

Edited By

Tobias Robinson

Tobias is the CEO of DayTrading.com, an active investor, and a brokerage expert. He has over 30 years of experience in financial services, including supervising the reviews of more than 500 trading brokers, and contributing via CySEC to the regulatory response to digital options and CFD trading in Europe. Tobias' expertise make him a trusted voice in the industry, where he's been quoted in various financial organizations and outlets, including the Nasdaq.

» Tobias Robinson Profile Page

Fact Checked By

William Berg

Fact Checked By

William Berg

William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.

» William Berg Profile Page

Updated

May 23, 2025

Created in 2013 as a joke, Dogecoin became the archetypal memecoin, soaring to a place among the most traded cryptocurrencies in the world as its Shiba Inu logo became one of crypto’s most recognizable brands.

As one of the most widely available cryptocurrencies, you can trade Dogecoin with many good brokers to potentially harness the volatility, high liquidity and sentiment-driven price movements of this unique market.

How Did DayTrading.com Choose The Best Dogecoin Trading Platforms?

We ranked Dogecoin brokers and exchanges based on total ratings after evaluating over 200 metrics across eight critical categories.

Our hands-on testing – conducted by our experts, including team members who actively trade crypto – delivers practical insights that go beyond the surface.

The result? A rigorously reviewed shortlist of the most secure and reliable Dogecoin trading platforms available today.

How To Choose A Dogecoin Broker

Don’t settle for a mediocre broker to trade Dogecoin – we’ve compiled the key features that make a great broker, based on decades of combined industry experience.

Trust

You should never risk your hard-earned cash with any Doge broker before you check whether it can be trusted.

There are simply too many scammers operating today – particularly in the crypto field, where fraudsters routinely search for victims on social media.

In 2025, the online protection company McAfee found that scammers were specifically using Doge and its association with high-profile figures like Elon Musk in their schemes.

That’s a key reason to trade with a crypto broker that has a good track record in the industry, a large clientele, and a licence from a reputable body.

Pricing

A tight spread and low or no commission fees are crucial for day trading Doge, since fees will quickly mount on short-term trades, eating away at profits.

Choosing a broker with low pricing will make it easier for your positions to potentially turn a profit, allowing you to make the most of Doge’s volatility and benefit from more trading opportunities.

Leverage

Trading with leverage boosts the size of your position and can allow even a small position to potentially make large profits from a volatile asset like Dogecoin.

But since losses are also magnified, leveraged trading is extremely risky. As a result, many regulators have imposed tight caps on the amount of leverage available – in the EU, for example, the cap is at 1:2, while the UK’s FCA doesn’t allow leveraged crypto trading at all. If you’re looking for high leverage, this might mean you need to sign up with an offshore broker.

If you do, make sure you thoroughly research the broker’s reliability, and remember that losses in leveraged trades can very quickly mount when trading Doge. Never risk more than you can afford to lose.

Over years trading Doge and other cryptocurrencies, I’ve seen my share of dramatic price swings – Doge routinely rises or drops by 5% or more in a day, and it’s not unusual to see even more extreme price movements.

If you had a position open with 1:10 leverage on May 8 2021, when Doge’s price fell by 29.5%, you’d be looking at losses of nearly 3x your initial investment – that illustrates how quickly leverage can wipe out trading funds on volatile instruments, so be careful.

Michael MacKenzie

Author

How To Day Trade Doge

Exchange Or Broker?

Dogecoin (DOGE) has become an established cryptocurrency and is available to trade from almost any crypto exchange and many crypto brokers.

While our experts have enjoyed testing reliable exchanges like OKX, we usually prefer using a crypto broker, since these more often have stronger regulatory oversight.

We’ve found that crypto exchanges may often advertise that they’ve registered with a body like the UK’s FCA that’s achieved green tier on DayTrading.com’s Regulation & Trust Rating.

But this is not the same as having a licence to offer specific trading products, and the level of protection can be much lower than you’d get from a broker.

For example, UK traders who sign up with an exchange might miss out on legal protections they would benefit from with an FCA-licensed broker, such as negative balance protection, the guarantee that client funds are segregated from business accounts, and insurance for up to £85,000 of their funds in case of business bankruptcy.

That’s why we favor crypto brokers like Pepperstone and eToro, which let traders deal in Doge directly or via CFDs while also extending important protections to customers.

Placing A Trade

It’s easy to place a Doge trade via an online broker – even if you’re a beginner, you should be able to sign up and get started on the same day. Here’s how…

First, sign up with a reliable broker for Doge trading. Once you’ve made your choice, the sign-up process is usually relatively quick, though you will usually need to upload proof of address and ID for verification in our experience.

Once you’ve chosen your broker and they’ve verified your ID and activated your account, log into the platform and search for Dogecoin (symbol DOGE). This should bring up data on this market, usually presented on a chart.

As you can see in the images above and below, I’ve navigated to the DOGE chart on my eToro brokerage account. Now I can check the price and conduct analysis to decide if and when to open a position.

To do so, I click the ‘Trade’ button and enter the size of position I want to open. I can either open a position immediately with a market order, or wait for the price to reach a specific level with a limit order.

As you can see in the images, eToro’s platform includes some useful features including an Analysis tab with a summary of technical indicators such as RSI, and a News tab with recent stories on Doge.

I can use these to conduct technical and fundamental analysis before I open a position. Similar tools can be found integrated into many good platforms nowadays – TradingView is a great example of this.

Michael MacKenzie

Author

Pros & Cons Of Day Trading Dogecoin

Pros

Cons