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EOS Day Trading 2024 – Tutorial and Brokers

EOS is one of the most popular coins used in day trading. EOS is more than just a cryptocurrency – it allows developers to build decentralised blockchain applications in the public sphere. Its scalability and support for thousands of commercial applications have helped see the value and price of EOS tokens steadily rise.

This page will cover everything you need to know about trading EOS, including facts about its blockchain technology, mining, wallets, and more.

EOS Brokers & Exchanges

  1. AvaTrade
  2. Pepperstone
  3. IC Markets
  4. Eightcap
  5. eToro

#1 - AvaTrade

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

  • Day traders can access stable spreads and zero commissions with no hidden fees
  • The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
  • WebTrader is well-suited to beginners and features a strong suite of technical analysis tools and market research for day traders

Cons

  • There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
  • A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
  • Traders from the US are not accepted
Visit AvaTrade

#2 - Pepperstone

Why We Chose Pepperstone

Pepperstone continues to prove itself as one of the most trusted crypto brokers. Although its selection of digital tokens is average, you can trade popular cryptos like Bitcoin and altcoins like Ripple with up to 1:10 leverage, while its crypto indices provide a holistic view of the digital currency markets not found on most day trading platforms.

"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."

- DayTrading Review Team
  • Coins: BCH, BTC, ETH, LTC, DASH, ADA, LINK, DOGE, EOS, DOT, XRP, XLM, XTZ, UNI, BNB
  • Crypto Mining: No
  • Auto Market Maker: No
  • Crypto Spread: BTC 30, ETH 0
  • Crypto Lending: No
  • Crypto Staking: No
  • Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
  • Minimum Deposit: $0
  • Regulator: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB

About Pepperstone

Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.

Pros

  • There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
  • Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates of 25%+ through the Active Trader program.
  • Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.

Cons

  • Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
  • Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
  • Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
Visit Pepperstone

#3 - IC Markets

Why We Chose IC Markets

IC Markets offers 20+ cryptocurrencies which are tradable via CFDs, including lesser-known tokens such as Avalanche, Kusama and Uniswap. Commission-free trading is available, and experienced crypto traders can access high leverage up to 1:200 in the MetaTrader platforms.

"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."

- DayTrading Review Team
  • Coins: BTC, BCH, DOT, DSH, EMC, EOS, ETH, LNK, LTC, NMC, PPC, XLM, XRP, ADA, BNB, DOG, UNI, XTZ
  • Crypto Mining: No
  • Auto Market Maker: No
  • Crypto Spread: BTC 42.036
  • Crypto Lending: No
  • Crypto Staking: No
  • Platforms: MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
  • Minimum Deposit: $200
  • Regulator: ASIC, CySEC, FSA

About IC Markets

IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.

Pros

  • IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
  • As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
  • You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.

Cons

  • The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
  • Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
  • Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
Visit IC Markets

#4 - Eightcap

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

  • 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.
  • 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.

Cons

  • Despite a useful library of educational guides and e-books, Eightcap still trails IG’s comprehensive toolkit for aspiring traders with its dedicated IG Academy app and 18 course categories.
  • 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.
  • 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.
Visit Eightcap

#5 - eToro

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

  • eToro has bolstered its investment offering, most recently with new crypto assets, now offering over 90 digital currencies
  • There's a comprehensive online training academy with accessible resources, from bitesize articles to comprehensive courses
  • eToro is a world-renowned brand with top-tier global regulation and a 25M+ user community

Cons

  • Traders will face currency conversion fees for account denominations other than USD
  • The lack of additional charting platforms like MT4 will reduce the appeal for seasoned day traders accustomed to using third-party software
  • There are no guaranteed stop loss orders which would be a useful risk management feature for beginners
Visit eToro

Chart

EOSUSD Chart by TradingView

What is EOS?

Definition

The straightforward definition is that EOS is a decentralised operating system, based on blockchain, that aims to support commercial decentralised applications. It looks to offer core functionality, so businesses can build blockchain applications much like you can create web-based applications. The overall objective is to be the most powerful infrastructure for decentralised applications.

EOS is, in fact, a direct competitor of Ethereum, who is currently considered the best application based protocol for building decentralised applications. However, EOS hopes to become a faster and more efficient version. Having said that, the EOS ICO actually supports Ethereum.

History

The company founder is Dan Larimer who is also the creator of Bitshares and Steem. Both cryptocurrency platforms are still active today. His proven track record has helped bolster EOS trading value and price.

EOS was introduced to the world at the Consensus 2017 with a peculiar ICO launch. Rather than the average two weeks, there was to be a year-long ICO and token dispensation period.

EOS Key Facts

Before you start day trading with EOS cryptocurrency, there are a few facts you should know:

Benefits

There are three notable benefits of the EOS trading platform and system, all of which have been detailed below.

1. Decentralised Operating System

Although this been touched upon above, it deserves some expansion. Developers just need to hold EOS tokens to build applications. Owning the coins gives you access to server resources, which is how you can use the EOS blockchain. However, note you do not have to spend the coins to use the infrastructure, you just have to prove you hold them.

If you run a Data Acquisition and Processing Program (DAPP) on the EOS network, it can interact with other Dapps. However, a firewall will be used to protect the Dapps. The interactions actually enable users to move around within the network so you won’t have to enter any login details on the blockchain. In fact, as a result of the integrations, you may not even realise you are using a number of Dapps.

2. Free Transaction Economy

One of the advantages, when you take EOS vs Ethereum, is that you do not incur the same fees. On Ethereum, you must pay gas costs when you conduct a transaction. Whereas the EOS platform does not. This will make adoption easier and is partly fuelling current price predictions.

The rules and precautions allow for uninterrupted functionality, keeping harmful software at bay. Whilst at the same time also preventing network servers turning against it.

In addition, a parallel processing mechanism promises greater scalability and faster transaction speeds. This all helps result in EOS being among the fastest blockchains.

Understanding these technical benefits will help you better understand prices, patterns and volume on your intraday charts.

3. Minimal Inflation

Inflation usually comes with negative connotations, leading to a decrease in the value of money. However, inflation means trading growth for EOS.

Inflation is self-sufficient and can only reach 5%. This level is small enough that it can trigger economic growth as the ecosystem develops.

Day trading with EOS and knowing when to buy and sell will be far easier if you understand why these attributes perhaps give it an advantage over other cryptocurrency systems.

Drawbacks

Before you find a cryptocurrency wallet and start day trading on EOS, forums, blogs, critics and the news have all highlighted a couple of drawbacks.

1. Trust

Some users question the founder’s previous success. As Tony Vays stated, “Dan Larimer has started several proof-of-stake based projects and they have all been shady in nature, both Bitshares and Steemit allowed insiders to create lots of tokens for themselves, and after that, the proof-of-stake nature of the project allowed those insiders to print tokens of value for themselves in perpetuity.”

Developing consumer trust is important in the cryptocurrency world. Negative news announcements can send prices plummeting.

2. Limited Technical Insight

In addition, Wayne Vaughn, founder and CEO of Tieron noted “The white paper does not go over any specifics and there is no code yet. So nobody can answer any specific technical questions.” Having said that, he does later concede “This is a team of people who have come forward, and they’re trying to build something that they think is innovative and that they want people to build new applications on top of.”

Yet despite current lack of technical depth, the ambiguity may only help to send charts into overdrive and drum up sophisticated trading ideas and strategies to profit from this mysterious cryptocurrency.

EOS Price Predictions

Making an EOS price prediction for 2024 is obviously difficult, but it appears that EOS day trading is likely to increase in volume. Most people agree there are promising opportunities for Dapp-based blockchain companies to flourish. There is currently little to suggest EOS won’t be one of those victors.

These forecasts make it an appealing proposition for both investors and day traders. Whilst prices could of course halt and then crash, the scalability of the platform and its current positive attributes seem to be attracting considerable attention. All of which is driving prices up.

In addition, the minimal IT infrastructure needs should help attract enterprise level clients. If the platform does attract these clients, there is a very strong chance the appreciation of tokens will be considerable.

What’s Next for EOS?

Regardless of the long-term outlook and strange year-long ICO, misinformation, fear of missing out and publicity is all likely to be a catalyst for intraday trade. The chance of overbidding on exchanges is also high, which may lead to serious price fluctuations. This could all provide switched on intraday traders with the opportunities needed to turn a profit.

For further crypto guidance and competitors, see our cryptocurrency page.