Litecoin Brokers & Exchanges
Litecoin brokers enable investors to speculate on one of the top cryptos by market cap. Due to its blockchain confirmation speeds, volatility and trading volumes, LTC is a popular digital asset among aspiring traders. To help you get started, we’ve listed the best Litecoin brokers and exchanges and provided tips for choosing between top platforms.
Litecoin Brokers & Exchanges
#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
- WebTrader is well-suited to beginners and features a strong suite of technical analysis tools and market research for day traders
- The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
- Automated trading is supported through MetaTrader Expert Advisors (EAs), as well as the AvaSocial and DupliTrade tools
Cons
- There is no ECN account with raw spreads
- Traders from the US are not accepted
- There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
#2 - OANDA US
Why We Chose OANDA US
You can speculate on the world’s biggest cryptos by market cap. Commissions are lower than many peers starting at 0.25%. Through the broker’s partnership with Paxos, clients can spot trade cryptocurrencies on the itBit exchange through the OANDA native platform.
"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."
- DayTrading Review Team
- Coins: BTC, ETH, LTC, BCH, PAXG, LINK, UNI, AAVE
- Crypto Mining: No
- Auto Market Maker: No
- Crypto Spread: $100
- Crypto Lending: No
- Crypto Staking: No
- Platforms: OANDA Trade, MT4, TradingView, AutoChartist
- Minimum Deposit: $0
- Regulator: NFA, CFTC
About OANDA US
OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.
Pros
- OANDA is a reliable, trustworthy and secure brand with authorization from tier-one regulators including the CFTC
- Day traders can enjoy fast and reliable order execution
- The broker offers a transparent pricing structure with no hidden charges
Cons
- The range of day trading markets is limited to forex and cryptos only
- There's only a small range of payment methods available, with no e-wallets supported
- It's a shame that customer support is not available on weekends
#3 - Deriv.com
Why We Chose Deriv.com
Deriv.com continues to offer a strong selection of 30+ crypto pairs - this is more than double the range offered at our leading competitor, IQ Cent. 1:2 leverage is also available so you can magnify potential returns, and there are no commissions which is ideal for newer day traders.
"Deriv.com will suit day traders looking to make fast-paced trades using CFDs and multipliers with high leverage up to 1:1000. The broker is also the industry leader in synthetic indices, which simulate real market movements and are available around the clock. "
- DayTrading Review Team
- Coins: BTC, LTC, ETH, USDT, USDC
- Crypto Mining: No
- Auto Market Maker: No
- Crypto Spread: From 0.5
- Crypto Lending: No
- Crypto Staking: No
- Platforms: Deriv Trader, MT5
- Minimum Deposit: $5
- Regulator: MFSA, LFSA, VFSC, BFSC
About Deriv.com
Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs, multipliers and more recently accumulators, alongside proprietary synthetic products which can't be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.
Pros
- Beginners and experienced day traders can access a good range of 20+ technical indicators in Deriv Trader vs 30+ in MT5
- The low $5 minimum initial deposit suits those on a lower budget
- Deriv continues to offer fast and reliable 24/7 support and the WhatsApp service is particularly convenient
Cons
- There's no loyalty program or rebate scheme for high volume traders
- There are limited copy trading tools and analysis features compared to alternatives like IQ Cent
- The range of 100+ assets trails some competitors such as Quotex which offers 400+
#4 - 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
- Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.
- Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
- Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.
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.
- There’s no simplified proprietary trading platform, nor are there any social trading features, which could be a disadvantage if you are new to day trading.
#5 - XM
Why We Chose XM
XM offers a handful of cryptocurrencies against the USD via the South African entity only. These are tradable via CFDs with high leverage up to 1:500. You can explore major tokens like Bitcoin, Ethereum and Ripple with just a $30 deposit.
"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."
- DayTrading Review Team
- Coins: BTC, ETH, LTC, XRP, BCH
- Crypto Mining: No
- Auto Market Maker: No
- Crypto Spread: Variable
- Crypto Lending: No
- Crypto Staking: No
- Platforms: MT4, MT5
- Minimum Deposit: $5
- Regulator: ASIC, CySEC, DFSA, FSC, FSCA
About XM
XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.
Pros
- Accessible trading accounts with a $5 minimum deposit and fast account opening
- Powerful MT4 and MT5 platforms are available with 60+ and 80+ technical charting tools
- XM continues to deliver diverse and multilingual educational materials and offers a useful live education schedule for its webinars and insights
Cons
- There is weak regulatory oversight through the global entity
- There's $5 inactivity fee after only 3 months, though this won't affect active traders
- PayPal deposits are not supported
What Is Litecoin?
Litecoin was launched in 2011 as a peer-to-peer decentralised cryptocurrency. It’s an open-source payment network so there are no governing authorities or central banks associated with the currency. The network can accommodate up to 84 million coins, with around 75% currently in circulation. The altcoin is used by individuals and corporations to purchase goods and services and to transfer funds.
Nicknamed ‘the silver to Bitcoin’s gold’, it’s one of the top 20 cryptocurrencies by market capitalisation with a value of more than $13.1 billion in 2021. Its low fees and 2.5-minute transaction speeds vs Bitcoin’s average of 10 minutes has attracted both day traders and long-term investors.
How Litecoin Brokers & Exchanges Work
Litecoin brokers offer financial intermediary services for users who want to speculate on the price of the digital currency. Through derivatives, such as CFDs, clients are exposed to the price action of LTC without owning the tokens themselves. Litecoin exchanges, on the other hand, simply connect buyers and sellers through a straightforward online platform.
As the crypto market never sleeps, most Litecoin brokers and exchanges operate 24/7, 365 days a year, allowing traders to take long and short positions around the clock. But perhaps unsurprisingly, the tools, fees and reliability of platforms can vary significantly.
Comparing Litecoin Brokers
There are several important factors to consider when choosing between Litecoin exchanges. We’ve listed the key considerations below, however, it’s worth doing your own due diligence and reading reviews to get the best deal.
Fees
Fees can fluctuate between Litecoin brokers, though charges tend to be based on a percentage of trading volumes. Ensure full transparency and check rates are competitive vs other brokers before opening a position. It’s also worth keeping an eye out for other fees, including inactivity charges and costs for making deposits and withdrawals.
Assets
Leverage
Leveraged trading allows investors to maximise returns from price swings. This means traders can execute more complex and varied strategies.
Leverage rates on cryptos like Litecoin tend to be capped at 1:2 with EU-regulated platforms, though higher rates can be found if you open an account with an offshore brokerage. Litecoin brokers with higher leverage rates may suit those with less capital or experienced traders looking to take larger positions.
Spot
Litecoin brokers also act as intermediaries for buyers and sellers offering straightforward quotes for those looking to take ownership of individual tokens. Spot trading LTC is popular with beginners or investors taking longer-term buy and hold strategies. There are multiple reputable Litecoin exchanges offering spot products.
Pairings
The best Litecoin brokers offer popular products, such as CFDs, on a range of LTC pairings. For example, you may be able to trade Litecoin against other cryptos like Bitcoin and Ripple, in addition to trading it against fiat currencies, such as the US Dollar. In fact, the most popular pairing is LTC/USD.
Regulation
Litecoin brokers that are regulated can help you avoid potential scams. Licensed exchanges generally have to follow any number of measures that aim to protect retail traders, from negative balance protection to limits on leverage rates. Of course, finding regulated brokers can prove challenging, especially when countries are taking different approaches to crypto trading. In particular, the US and China have signalled that they intend to crack down on retail crypto investing, including on Litecoin. Fortunately, there remains a decent number of licensed platforms on the market.
Deposits & Withdrawals
Brokerages that accept multiple payment options make it easier to buy and sell Litecoin. Popular deposit solutions include credit and debit cards, bank wire transfers, and PayPal. Some investors may want to fund their account using LTC, so check whether you can make crypto payments. Also take note of any deposit and withdrawal fees that may cut into profits.
The other thing to keep in mind is the minimum deposit requirement. Beginners may want to opt for Litecoin brokers with zero minimum deposit or a low $10 starting threshold.
Promos
Litecoin brokers may offer bonuses to entice new traders. These could be in the form of one-off no deposit welcome bonuses or ongoing loyalty programmes. But whilst these can be tempting, it’s worth checking the small print before you sign-up. Often bonuses come with restrictions on how much you can withdraw and when.
Accounts
Litecoin cash brokers may offer a range of live accounts. Typically, the more you deposit the more competitive the fees are and the better access to advanced tools you get.
It’s also worth checking for account opening times. Regulated providers may have KYC checks to complete which can take several days while other accounts you can get up and running within a few minutes.
Platforms
The investing platform is your gateway to the market. Whether that’s the industry-recognised MT4 and MT5, or bespoke proprietary terminals, how intuitive and feature-rich the solution is will impact your user experience. Check for built-in technical indicators, interactive charts, and additional price analysis tools.
The top Litecoin exchanges also offer free mobile apps. Many crypto investors speculate on the markets from their mobile devices, offering 24/7 access all year round. The best apps are available on both iOS and Android devices.
Also note that Litecoin brokers offering a free demo account let you test drive a platform before you get started.
Tools
Leading LTC brokers provide additional tools such as educational resources and expert advisors. PrimeXTB, for example, offers powerful technical analysis software. Other services to look out for include social and copy trading tools, a VPS, and economic calendars. Most providers publish details of available tools on their website.
Customer Support
The best Litecoin platforms offer reliable customer support. As the digital currency market is open 24/7, we recommend finding a broker that offers customer assistance during the hours you plan to trade. The top platforms offer support via email, live chat and telephone. Interactive Brokers is a good example of a provider that offers support for Litecoin investors through a 24-hour multilingual telephone helpline.
Other Services
Some Litecoin brokers offer alternative investment opportunities in the popular crypto. For example, mining, lending and farming may provide potential opportunities to generate returns. As a result, it could be worth checking whether platforms offer the tools and training to get started earning through less traditional means.
Final Word On Litecoin Brokers
The best Litecoin brokers create a user-friendly trading environment for investors. The top exchanges also offer low fees, fast payments and competitive products. And with a growing number of scams online, it’s important to read reviews and choose a trusted platform. Head to our table of top Litecoin brokers to get started today.
FAQ
What Is Litecoin’s Ticker Symbol On A Broker's Platform?
You can find Litecoin under the ticker symbol LTC. Most brokers and exchanges include Litecoin in their list of top 20 cryptos by trading volume.
What Are Litecoin Brokers?
Litecoin brokers are online firms that offer a means of speculating on the future price of the popular cryptocurrency. This could be through spot transactions or derivative products such as CFDs.
When Can I Trade Litecoin With A Broker?
The crypto market is open 24/7, 365 days a year. This is welcome news for those with busy day jobs as it means Litecoin can be traded in the evenings and on weekends. It’s worth finding Litecoin brokers with customer support teams that are open during the hours you plan to be active.
How Do I Know Which Litecoin Brokers Are Best?
Consider transaction fees, educational resources, analysis tools, payment methods and regulatory oversight when looking for Litecoin exchanges. Platforms that have been operational for several years and with positive reviews are a good place to start.
Should I Use A Regulated Litecoin Broker?
Many countries are still working to introduce regulations to govern the trading of cryptocurrencies like Litecoin. With that said, some Litecoin brokers are regulated by reputable agencies, such as the CySEC or the FCA. Where possible, we recommend opening an account with a licensed provider as it provides additional protections for retail traders.
Can I Trade CFDs On Litecoin?
Yes, a number of brokers offer contracts for difference on Litecoin. CFDs allow traders to take a position on the future price of the crypto without owning the token itself. See our ranking of the top Litecoin brokers, including those that offer CFDs.