Best Ethereum Payments Brokers 2024

Cryptocurrency represents an exciting new market in which to speculate and invest. However, coins such as Ethereum (ETH) also have real-world utility as a payment method to add and withdraw funds to brokerage accounts. An increasing number of brokerages are accepting Ethereum deposits, providing crypto investors with a seamless payment solution and anonymity.

This guide uncovers the benefits and risks of funding your account with Ethereum, from network confirmation times to transfer fees and limits. We have also compiled a list of the best brokerages that accept Ethereum payments in 2024.

Best Ethereum Payment Exchanges

We recommend these 5 brokers that support Ethereum payments, based on our tests:

Ethereum Payments Brokers Comparison

Ethereum Payments Brokers Comparison
Broker Minimum Deposit Instruments Platforms Leverage Visit
Pocket Option logo
$50 Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos Web, MT4, MT5 - Visit
IQCent logo
$250 Binary Options, CFDs, Forex, Indices, Commodities, Crypto Online Platform, TradingView 1:500 Visit
Videforex logo
$250 Binary Options, CFDs, Forex, Indices, Commodities, Crypto TradingView 1:500 Visit
Uphold logo
$0 Cryptos Desktop Platform, Mobile App - Visit
ForexChief logo
$10 CFDs, Forex, Metals, Commodities, Stocks, Indices MT4, MT5 1:1000 Visit
CloseOption logo
$5 Binary Options on Forex & Cryptos Own - Visit
Sage FX logo
$10 Forex, indices, cryptos TradeLocker 1:500 Visit
Coinexx logo
0.001 BTC Forex, Commodities, Indices, Cryptocurrencies MT4, MT5 1:500 Visit
Kraken logo
$10 Cryptos AlgoTrader - Visit
Gemini logo
$0 Cryptos ActiveTrader, AlgoTrader, TradingView - Visit
RaceOption logo
$250 Binary Options, CFDs TradingView 1:500 Visit
BinaryCent logo
$250 CFDs, Forex, Stocks, Cryptos, Options, Commodities Own 1:500 Visit

#1 - Pocket Option

Why We Chose Pocket Option

Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.

"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."

- DayTrading Review Team
  • Instruments: Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos
  • Regulator: MISA
  • Platforms: Web, MT4, MT5
  • Minimum Deposit: $50
  • Minimum Trade: $1

Pros

  • Well-funded traders who deposit $1000+ can qualify for a 2%+ payout boost, more tradable assets and exclusive perks
  • The MetaTrader platforms offer integrated analysis with helpful technical summaries for short-term traders
  • The range of payment methods beats the majority of rivals, providing fast, secure and convenient deposits for traders in most countries

Cons

  • The maximum binary contract length of 4 hours is restrictive for longer-term trading strategies. Alternatives like Videforex offer binaries up to 1 month
  • Despite offering competitive payouts up to 92%, binary brokers like IQCent offer higher returns up to 98% based on tests
  • The MISA is a weak regulator with limited investor protection for retail traders

#2 - IQCent

Why We Chose IQCent

IQCent is an offshore binary options and CFD broker based in the Marshall Islands. The brand continues to offer a range of unique account types with bonuses and perks, including payout boosts, TradeBacks and free rollovers. With 100+ assets, around-the-clock trading and 98% payouts, the firm is popular with aspiring short-term traders.

"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "

- DayTrading Review Team
  • Instruments: Binary Options, CFDs, Forex, Indices, Commodities, Crypto
  • Regulator: IFMRRC
  • Platforms: Online Platform, TradingView
  • Minimum Deposit: $250
  • Minimum Trade: $0.01
  • Leverage: 1:500

Pros

  • The broker offers up to 98% payouts on binary options, which is more than alternatives like Pocket Option, only offering up to 92%
  • CFD trading fees are competitive based on tests, including 0.7 pips on major forex pairs such as EUR/USD
  • Keen traders can take part in trading contests with cash prizes

Cons

  • The market analysis is very basic with limited technical summaries and insights from analysts
  • There's no automated trading support for algo traders
  • IQCent charges a punitive $10 monthly inactivity fee if you fail to place at least 1 trade per month

#3 - Videforex

Why We Chose Videforex

Launched in 2017, Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.

"Newer traders will find a lot to enjoy about trading binary options on Videforex's easy-to-use proprietary platform, as well as the broker's copy trading solution. Payouts also remain higher than most alternatives climbing to 98%."

- DayTrading Review Team
  • Instruments: Binary Options, CFDs, Forex, Indices, Commodities, Crypto
  • Platforms: TradingView
  • Minimum Deposit: $250
  • Minimum Trade: $0.01
  • Leverage: 1:500

Pros

  • You can easily mirror the trades of experienced investors with low fees
  • The support times are fast and reliable based on tests - few brokers offer 24/7 multi-lingual video support
  • The firm facilitates both day trading and binary options which is great for those looking to diversify their portfolios

Cons

  • No MetaTrader 4 integration
  • The broker isn’t overseen by a trusted regulatory agency
  • US clients aren’t accepted due to legal restrictions

#4 - Uphold

Why We Chose Uphold

Uphold is a digital asset platform offering a range of services, from crypto trading and staking to payment cards that provides rewards and easy multi-currency payments. The company was established in 2015 and has enabled $4+ billion in transactions. Uphold is now active in 180+ countries and deals in 200+ crypto and fiat currencies.

"Uphold remains a top choice for crypto investors looking for a one-stop-shop solution to accessing the markets. There are over 250 tokens to buy, sell and trade through flexible platform options."

- DayTrading Review Team
  • Instruments: Cryptos
  • Platforms: Desktop Platform, Mobile App
  • Minimum Deposit: $0
  • Minimum Trade: $1

Pros

  • Fees are competitive based on tests, with 26 underlying platforms helping to source the best prices
  • Uphold continues to remain ahead of the industry, often being one of the first platforms to list new crypto tokens
  • Over 250 cryptos are available including major tokens like Bitcoin and Ethereum

Cons

  • Uphold operates with limited regulatory oversight
  • The charting analysis features on the platform trail specialist exchanges
  • Customer service is slow based on tests, with limited contact options

#5 - ForexChief

Why We Chose ForexChief

ForexChief is a foreign exchange and CFD broker, established in 2014. The company is based offshore and registered with the VFSC and FMA. Users can choose between a wide selection of accounts and base currencies, making ForexChief accessible to global traders. The brand also stands out for its no deposit bonus and fee rebates for high-volume traders.

"ForexChief continues to prove popular with investors looking to trade highly leveraged CFDs on the popular MetaTrader platforms. The broker's rebate scheme and investment accounts will particularly appeal to seasoned traders. However, the lack of top-tier regulatory oversight is a major drawback."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Metals, Commodities, Stocks, Indices
  • Regulator: VFSC
  • Platforms: MT4, MT5
  • Minimum Deposit: $10
  • Minimum Trade: 0.01 Lots
  • Leverage: 1:1000

Pros

  • ForexChief offers STP/ECN execution with low spreads from 0.0 pips and low commission rates starting from $2.50 per side
  • The low minimum deposit of $10 will appeal to beginners, as well as the beginners’ guides in the Library
  • Traders can access a copy trading solution via the MetaQuotes Signals service

Cons

  • Fees and minimums are imposed on most withdrawal methods, including a €60 minimum for SWIFT bank transfers
  • ForexChief is an offshore broker with weak regulatory oversight from the VFSC, so traders will receive limited safeguards
  • The Classic+ and Cent accounts provide access to fewer instruments than the other account types, at 50+ and 35+, respectively

Ethereum Payments Explained

Ethereum is a digital network that allows users to make payments in its currency tokens, Ether or ETH. But while many utilize the crypto as a speculative instrument, long-term investment or an interest-generating savings asset, tokens can also facilitate 24/7 digital payments across the globe in a decentralized currency.

Before getting into the specifics of using Ether to make deposits and withdrawals to an online broker, our experts have created a quick introduction to how token transfers work…

After purchasing or receiving Ethereum coins into an online wallet, investors can transfer these tokens to an ETH-compatible payment address to make transactions. These transfers can be made via QR code when using a mobile investing app or a unique wallet address on a desktop device.

While payment methods such as PayPal, Apple Pay and bank transfers often have geographical or currency restrictions, Ethereum tokens do not discriminate. This makes Ether an excellent option for cross-border payments to offshore brokerages.

However, for transactions to be verified by the network, traders often pay block or gas fees, which compensate other token holders for providing the network on which payments are made.

Here are a few ways in which Ethereum payments and smart contracts can be used by traders:

Brokerages

When we investigated brokerages that accept Ethereum payments, we found that an increasing number of platforms are facilitating crypto deposits, including Binance.

Many brokerages will convert Ether payments into a fiat currency such as USD, EUR or GBP to use in margin investing. However, some online investing services use crypto base currency support to provide ETH-based accounts that facilitate direct Ethereum trading. We have compiled a detailed guide to choosing the top Ethereum brokers.

In addition, traders can use Ether to pay for stocks, as margin for forex and CFDs, or to speculate on futures markets.

Cryptocurrency Exchanges

Ethereum is one of the most prominent cryptocurrencies in the decentralized space behind only Bitcoin. As such, we could not find a single cryptocurrency exchange or investing platform that did not support Ethereum deposits and withdrawals.

Adding Ether to an exchange can serve investors in several ways. This includes using a platform that supports high-yield staking, using crypto as margin for loans or simply accessing preferable exchange spreads and fees.

Payment Timelines

Speedy payment transaction times are crucial in the retail investing space. Traders often need to add funds quickly to capitalize on a market opportunity or add margin to maintain a position.

When we used Ether as a deposit and withdrawal method, we found that payment times ranged from 15 seconds to 5 minutes on average.

However, network speed also depends on how many people are making payments at any one time. Events such as NFT sales have caused transaction times to spike up to 4 hours.

When making a withdrawal using Ethereum, providers will often need to make checks and process the transaction independently of network times. This holding period usually is less than 24 hours and ensures that money laundering and finance compliance checks can be made.

Transfer Fees

Choosing a payment method with the lowest fees is a priority for many traders, with hefty charges potentially eating into hard-earned profits.

While Ethereum deposit and withdrawal fees vary from broker to broker, charges on this side of the transaction are usually small, if not zero. However, when making Ethereum payments, traders must also consider the ‘gas’ or network fees per transaction.

Similar to transaction times, Ether prices fluctuate based on network availability, with higher charges to pay during peak times and lower fees during less busy hours. Average fees change daily but are down considerably from highs in its history of over $70 in May 2021– fees by day rarely exceed $5 now.

While Ether transfer fees are lower than Bitcoin payments, some traders still feel that these are too high. And importantly, many alternative payment methods supported by online brokerages are fee-free for deposits and withdrawals.

Security

Due to cryptocurrency’s patchy reputation, some traders may be hesitant to use Ethereum to deposit and withdraw to their online brokerage accounts.

However, Ether is a trusted and secure payment network trusted by millions of investors around the world. All transactions are recorded on the blockchain and can be viewed via the Ethereum.org payment tracker.

This said, there are dangers when making Ethereum payments. For example, suppose you make a mistake when transferring ETH to your broker’s wallet. In that case, there is no way to refund the tokens to your own address. As a result, it’s always better to use payment links rather than manually input a wallet address.

This quality also means that scammers that take control of an account can anonymously withdraw Ether from a wallet or brokerage. Fortunately, the best online brokerages and wallet providers allow users to set up additional security measures through two-factor authentication.

Ethereum payments meaning

Benefits Of Ethereum Deposits For Traders

Problems With Ethereum Deposits For Traders

How To Deposit Using Ethereum

To help you make Ethereum payments to your brokerage quickly and easily, our experts have created this guide to making crypto deposits.

Create/Log In To An Account

After finding exchanges that accept Ethereum payments, the first step is to create an account. Brokerages usually require an email address, postal address, full name and password, with additional information needed later for identity verification.

Once an account is set up, log in to the client portal using your registered email address and password.

Locate Wallet

Once securely logged in to the client portal, navigate to your wallet area. This is often labelled “add funds” or “deposit funds”.

Select Payment Method

Most platforms support a wide selection of payment methods, such as PayPal, bank transfer, Skrill, Neteller, Visa and Mastercard credit/debit cards, plus cryptocurrencies. Find the Ether option and select it.

Specify Funding Amount

Some accounts that accept Ethereum will require investors to specify the amount of Ether they wish to deposit, either as an ETH or USD value.

Generate Wallet Address

Next, the brokerage will generate a unique wallet address for this transaction via a payment gateway, which will only work for Ethereum payments. Make a note of this address carefully, as a mistake here will mean that your funds could be sent to the wrong address and lost.

Add Funds

Log in to the wallet or exchange where your Ether tokens are held, and find the section in which users can make outgoing transfers. Then, input the wallet address carefully, along with the desired value of tokens to transfer.

Make the payment, and within 5-30 minutes under normal network conditions, your funds should have arrived with your online brokerage, minus any gas fees.

Are Ethereum Payments Good For Day Trading?

Ethereum deposits are an excellent option for traders who deal mainly in cryptocurrency or want to make recurring payments cross-borders and avoid lengthy wire transfer waiting times and forex fees. While not many brokerages currently offer the option to pay in crypto coins, more platforms are starting to adopt this payment method. However, investors should ensure that wallet addresses are correct when making transfers.

Use our list of the top brokerages that accept Ethereum deposits and withdrawals to get started.

FAQ

What Are The Average Fees For Ethereum Deposits To Brokerage Accounts?

Despite Ether fees spiking up to over $70 in 2021, prices rarely exceed $5 per transfer now. Most investing platforms that accept Ethereum also waive fees at the deposit stage, though there may be a charge when it comes to making a withdrawal.

Does ETH Allow Instant Deposits To Investing Accounts?

On average, the Ether network will process payments in between 5 and 30 minutes. However, low utilization can see transaction time drop into seconds, while high activity can drive times as high as 4 hours.

What Are Ethereum Deposit Fees Vs Bitcoin Charges To Brokerage Accounts?

Ether fees are far lower than Bitcoin’s, even in peak network times, by a significant percentage. For this reason, many traders favour Ethereum payments over the crypto coin’s main rival.

Can I Track My Ethereum Brokerage Payment?

Interested parties can view all the payments made on the Ether network online. However, the details of the sending and receiving parties are entirely anonymous. Head to the official Ether payment tracker for more details – Ethereum.org. Here you can also find details of the latest updates and news on queues, thresholds, and fee reductions.

Are Ethereum Deposits To Investing Platforms Free?

Many brokerages that have accepted Ethereum payments do not charge additional fees for deposits and withdrawals, though this varies between investing services. We have ranked the best brokerages that accept Ethereum payments. Use our full reviews to find a low-cost or free provider.