Ripple brokers and exchanges allow you to trade XRP by either buying the token directly or speculating on its price through derivatives. Dig into DayTrading.com’s pick of the best brokers and exchanges for trading Ripple, revealing high-trust, low-cost platforms with excellent tools.
Top 6 Ripple Brokers & Exchanges 2026
After testing 143 platforms, we’ve identified the 6 best options for secure XRP trading in Jamaica:
-
- Coins: BTC, ETH, LTC, XRP, BCH
- Crypto Spread: Variable
- Platforms: MT4, MT5, TradingCentral
76.15% of accounts lose money when trading CFDs with this provider. -
- Coins: BCH, BTC, BTG, ETH, LTC, XRP, EOS, DASH
- Crypto Spread: BTC <1%, ETH 2%
- Min. deposit: $100
-
- Crypto Spread: 30 (BTC)
- Min. deposit: $0
73-89% of retail investor accounts lose money when trading CFDs with this provider. -
- Crypto Spread: BTC 42.036
- Min. deposit: $200
- Regulator: ASIC, CySEC, FSA, SCB, CMA-Kenya
-
- Coins: BTC, ETH, XRP, SOL, DOGE, ADA
- Crypto Spread: Variable
- Platforms: R StocksTrader, MT4, MT5, TradingView
-
- Crypto Spread: $12 (BTC)
- Platforms: MT4, MT5, TradingView, TradeLocker
- Min. deposit: $100
71.28% of retail traders lose money when trading CFDs
Learn how we test brokers and why you can trust our ratings.
Why Are These Brokers the Best for Trading XRP?
Here’s a quick summary of why we believe these platforms lead the way for Ripple (XRP) trading:
- XM is the best XRP broker in Jamaica in 2026 4.8/5 XM offers a handful of cryptocurrencies against the USD via the South African entity only. These are tradable via CFDs with very high leverage up to 1:500, amplifying potential returns but also losses. You can day trade major tokens like Bitcoin, Ethereum and Ripple, though the suite of tokens trails the 100+ crypto derivatives at some category leaders.
- AvaTrade 4.9/5 Regulated in five continents, AvaTrade offers a secure way to access crypto markets. There's a growing range of digital currencies including Bitcoin, Ethereum and Ripple, plus more unusually, a crypto index for diversified exposure. You can also access competitive crypto spreads in the broker's three platforms as well as 1:2 leverage.
- Pepperstone 4.8/5 Pepperstone continues to prove itself as one of the most trusted crypto CFD 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. It has also launched a dedicated crypto exchange in Australia - Pepperstone Crypto.
- IC 4.8/5 IC 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 leverage in the MetaTrader platforms.
- RoboForex 4.3/5 RoboForex has launched 24/7 CFD crypto trading for popular tokens, including Bitcoin, Ethereum, and Cardano. Transparent fees, margin trading opportunities, and the reliable RoboForex execution make it suited to active crypto traders. Crypto trading is on select accounts like Pro, ProCent, and ECN accounts, alongside leverage up to 1:500 for BTC/ETH.
- Eightcap 4.6/5 Eightcap’s crypto offering is best-in-class with 120+ crypto derivatives, surpassing that of almost every alternative. Testing also reveals Bitcoin spreads of 12 pips, coming in lower than most competitors. Add in convenient deposits and withdrawals in digital currencies, and Eightcap offers the complete package for serious crypto traders.
Compare the Top XRP Brokers and Exchanges Across Key Features
Find the best XRP trading platform for your needs by comparing critical features valued by active Ripple traders:
| Broker | XRP Margin Trading | Payment Methods | Regulators |
|---|---|---|---|
| XM | ✔Yes | Airtel, Apple Pay, Credit Card, Debit Card, Google Pay, M-Pesa, Neteller, Perfect Money, Skrill, TransferWise, Visa, Wire Transfer | CySEC, DFSA, FSCA, SCA, FSA, FSC-Belize, FSC-Mauritius, CMA-Kenya, CMA-UAE |
| AvaTrade | ✔Yes | Boleto, Credit Card, Debit Card, FasaPay, JCB Card, Mastercard, MoneyGram, Neteller, Perfect Money, Skrill, Swift, WebMoney, Wire Transfer | ASIC, CySEC, FSCA, ISA, CBI, JFSA, BVI, FSRA/ADGM, AFM, CMA-Kenya, CIRO (via Friedberg Direct) |
| Pepperstone | ✔Yes | Apple Pay, BPAY, Credit Card, Debit Card, Google Pay, M-Pesa, Mastercard, Neteller, PayPal, PIX Payment, Skrill, UnionPay, Visa, Wire Transfer | FCA, ASIC, CySEC, BaFin, DFSA, SCA, SCB, CMA-Kenya |
| IC | ✔Yes | BPAY, Credit Card, Klarna, Mastercard, Neteller, PayPal, POLi, Rapid Transfer, SafeCharge, Skrill, Swift, UnionPay, Visa, Wire Transfer | ASIC, CySEC, FSA, SCB, CMA-Kenya |
| RoboForex | ✔Yes | Alipay, AstroPay, Cashu, ecoPayz, Giropay, iDeal, MoneyGram, Neteller, Perfect Money, POLi, Rapid Transfer, SafeCharge, Skrill, Sofort, Trustly, Vietcombank Transfer, Visa, Volet, WeChat Pay, Wire Transfer | FSC |
| Eightcap | ✔Yes | Bitcoin Payments, BPAY, Credit Card, Debit Card, Dragonpay, FasaPay, Neteller, PayPal, PIX Payment, Skrill, UnionPay, Visa, Wire Transfer | FCA, ASIC, CySEC, FSC, SCB, FSA |
How Safe Are These XRP Trading Platforms?
Security matters - especially in crypto. See how the top XRP brokers protect user funds:
| Broker | Trust Rating | Guaranteed Stop Loss | Negative Balance Protection | Segregated Accounts |
|---|---|---|---|---|
| XM | ✘No | ✔Yes | ✔Yes | |
| AvaTrade | ✘No | ✔Yes | ✔Yes | |
| Pepperstone | ✘No | ✔Yes | ✔Yes | |
| IC | ✘No | ✔Yes | ✔Yes | |
| RoboForex | ✘No | ✔Yes | ✔Yes | |
| Eightcap | ✘No | ✔Yes | ✔Yes |
Compare XRP Mobile Trading Platforms
We tested mobile apps for speed, reliability, and features - here’s how the best XRP brokers performed on mobile:
| Broker | Mobile Apps | iOS Rating | Android Rating | Smart Watch App |
|---|---|---|---|---|
| XM | iOS, Android & Windows | ✘No | ||
| AvaTrade | iOS & Android | ✘No | ||
| Pepperstone | iOS & Android | ✘No | ||
| IC | iOS & Android | ✘No | ||
| RoboForex | iOS & Android, R StocksTrader, Telegram Mini App | ✘No | ||
| Eightcap | iOS & Android | ✘No |
Are These Top XRP Brokers Beginner-Friendly?
If you’re new to Ripple trading, here's how these brokers offer intuitive tools and educational resources to help you get started:
| Broker | Demo Account | Minimum Deposit | Minimum Trade | Education Rating | Support Rating |
|---|---|---|---|---|---|
| XM | ✔Yes | $5 | 0.01 Lots | ||
| AvaTrade | ✔Yes | $100 | 0.01 Lots | ||
| Pepperstone | ✔Yes | $0 | 0.01 Lots | ||
| IC | ✔Yes | $200 | 0.01 Lots | ||
| RoboForex | ✔Yes | $10 | 0.01 Lots | ||
| Eightcap | ✔Yes | $100 | 0.01 Lots |
Are These XRP Brokers Suitable for Experienced Traders?
Advanced XRP traders demand more - see which platforms offer the tools, analytics, and speed needed for a serious edge:
| Broker | Automated Trading | VPS | AI | Pro Account | Leverage | Low Latency | Extended Hours |
|---|---|---|---|---|---|---|---|
| XM | Expert Advisors (EAs) on MetaTrader | ✔Yes | ✔Yes | ✘No | 1:1000 | ✔Yes | ✘No |
| AvaTrade | Expert Advisors (EAs) on MetaTrader | ✘No | ✔Yes | ✔Yes | 1:30 (Retail) 1:400 (Pro) | ✔Yes | ✘No |
| Pepperstone | Expert Advisors (EAs) on MetaTrader, cBots on cTrader | ✘No | ✘No | ✔Yes | 1:30 (Retail - UK, EU, Australia), 1:500 (Pro), 1:200 (Offshore), 1:400 (Kenya) | ✔Yes | ✘No |
| IC | Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade | ✔Yes | ✘No | ✘No | 1:5000 | ✔Yes | ✘No |
| RoboForex | Expert Advisors (EAs) on MetaTrader, Strategy Builder in R StocksTrader | ✔Yes | ✘No | ✘No | 1:2000 | ✘No | ✘No |
| Eightcap | Expert Advisors (EAs) on MetaTrader | ✔Yes | ✘No | ✔Yes | 1:500 | ✔Yes | ✘No |
Compare Ratings of the Top XRP Brokers and Exchanges
See how each XRP trading platform scored in essential categories based on our expert-led evaluation:
| Broker | Trust | Platforms | Assets | Mobile | Fees | Accounts | Research | Education | Support |
|---|---|---|---|---|---|---|---|---|---|
| XM | |||||||||
| AvaTrade | |||||||||
| Pepperstone | |||||||||
| IC | |||||||||
| RoboForex | |||||||||
| Eightcap |
Community Sentiment
See how users rate these brokers based on the average customer ratings submitted on DayTrading.com, plus ratings from Trustpilot, the Apple App Store and Google Play.
| Broker | Our Users' Rating | Trustpilot Score | Trustpilot Reviews | iOS App Rating | Android App Rating |
|---|---|---|---|---|---|
| XM | 3095 | ||||
| AvaTrade | 13743 | ||||
| Pepperstone | 3735 | ||||
| IC | 4 | ||||
| RoboForex | 776 | ||||
| Eightcap | 3910 |
How Popular Are These XRP Brokers?
Find out which XRP brokers and exchanges have built the biggest followings:
Why Trade Ripple (XRP) with XM?
With a low $5 minimum deposit, advanced charting platforms in MT4 and MT5, expanding range of markets, and a Zero account offering spreads from 0.0, XM provides all the essentials for active traders.
Christian Harris, Reviewer
XM quick facts
- 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, TradingCentral
- Minimum Deposit
- $5
- Regulator
- CySEC, DFSA, FSCA, SCA, FSA, FSC-Belize, FSC-Mauritius, CMA-Kenya, CMA-UAE
- Account Currencies
- USD, EUR, GBP, JPY, ZAR
Pros
- XM has rolled out platform upgrades with integrated TradingView charts and an XM AI assistant, delivering faster execution, smarter analysis, and a sleeker, more intuitive trading experience.
- XM’s customer support has delivered over years of testing, with 24/7 assistance in 30 languages, response times of under 2 minutes and a growing Telegram channel.
- XM’s Zero account is ideal for day trading with spreads from 0.0 pips, 99.35% of orders executed in <1 second, and no requotes or rejections.
Cons
- Although trusted and generally well-regulated in some regions, XM also has global entities registered with the weak regulators like FSC (Belize) and FSA (Seychelles), whilst UK clients are no longer accepted, reducing its market reach.
- While the XM app stands out for its usability and exclusive copy trading products, the selection of technical analysis tools needs to be improved to meet the needs of advanced traders.
- XM relies solely on the MetaTrader platforms for desktop trading, so there’s no in-house downloadable solution for a more beginner-friendly user experience with unique features.
Why Trade Ripple (XRP) with AvaTrade?
Celebrating 20 Years in the industry, AvaTrade offers active traders everything they need: an intuitive WebTrader, powerful AvaProtect risk management, a smooth 5-minute sign-up process, and dependable support you can rely on in fast-moving markets.
Jemma Grist, Reviewer
AvaTrade quick facts
- 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, AvaFutures, MT4, MT5, AlgoTrader, TradingView, TradingCentral, DupliTrade
- Minimum Deposit
- $100
- Regulator
- ASIC, CySEC, FSCA, ISA, CBI, JFSA, BVI, FSRA/ADGM, AFM, CMA-Kenya, CIRO (via Friedberg Direct)
- Account Currencies
- USD, EUR, GBP, CAD, AUD, ZAR
Pros
- AvaTrade launched AvaFutures to offer low-margin access to global markets, then expanded in 2025 as one of the first brokers to add CME’s Micro Grain Futures.
- The WebTrader excelled in our hands-on tests, sporting a user-friendly interface for beginners, complete with robust charting tools like 6 chart layouts and 60+ technical indicators.
- Years on, AvaTrade remains one of the few brokers offering a bespoke risk management tool, AvaProtect, that insures losses up to $1M for a fee and is easy to activate on the platform.
Cons
- The AvaSocial app is good but not great – the look and feel, plus the navigation between finding strategy providers and account management needs upgrading to rival category leaders like eToro.
- While signing up is a breeze, AvaTrade lacks an ECN account like Pepperstone or IC Markets, which provides the raw spreads and ultra-fast execution many day traders are looking for.
- AvaTrade’s WebTrader has improved, but work is still needed in terms of customizability – frustratingly widgets like market watch and watchlists can’t be hidden, moved, or resized.
Why Trade Ripple (XRP) with Pepperstone?
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 24/5 support (18h a day on weekends).
Christian Harris, Reviewer
Pepperstone quick facts
- 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
- 30 (BTC)
- Crypto Lending
- ✘No
- Crypto Staking
- ✘No
- Platforms
- Pepperstone Trading Platform, MT4, MT5, cTrader, TradingView
- Minimum Deposit
- $0
- Regulator
- FCA, ASIC, CySEC, BaFin, DFSA, SCA, SCB, CMA-Kenya
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
Pros
- Pepperstone provides trading in pre-IPO perpetual futures, including adding Anthropic in October 2026, giving traders 24/7 opportunities to speculate on anticipated share prices using cash-settled CFDs.
- Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates up to 30% (index and commodities) and $3/lot (forex) through the Active Trader program.
- Pepperstone has greatly improved the deposit and withdrawal experience in recent years, adding Apple Pay and Google Pay in 2025, as well as PIX and SPEI for clients in Brazil and Mexico in 2024.
Cons
- Despite improvements to its range of markets, crypto CFD offerings are still fairly limited compared to other brokers who focus on this area, such as Eightcap, and there's no option to invest in real coins.
- Pepperstone has removed support for several tools that elevated the trading experience for active retail traders, notably Autochartist, Capitalise.ai and a free VPS for qualifying traders (now only pro traders in some countries).
- Execution may not feel as reliable in fast markets as headline speeds suggest. In our own testing, execution was fast at desired prices, but some community complaints focus on slippage, stop-loss fills and spread-sensitive order triggers during volatile conditions.
Why Trade Ripple (XRP) with IC?
IC (formerly 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.
Christian Harris, Reviewer
IC quick facts
- 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, Quantower
- Minimum Deposit
- $200
- Regulator
- ASIC, CySEC, FSA, SCB, CMA-Kenya
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
Pros
- IC offers fast and dependable 24/7 support based on firsthand experience, particularly when it comes to accounts and funding issues.
- As a tightly regulated and widely respected broker, IC 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
- While IC offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
- The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
- Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
Why Trade Ripple (XRP) with RoboForex?
RoboForex is great if you want a vast range of 12,000+ day trading markets with ECN accounts, powerful charting and loyalty promotions. It also stands out for stock traders with its user-friendly R StocksTrader platform, featuring 3,000+ shares, fees from $0.01 and sophisticated watchlists.
Christian Harris, Reviewer
RoboForex quick facts
- Coins
- BTC, ETH, XRP, SOL, DOGE, ADA
- Crypto Mining
- ✘No
- Auto Market Maker
- ✘No
- Crypto Spread
- Variable
- Crypto Lending
- ✘No
- Crypto Staking
- ✘No
- Platforms
- R StocksTrader, MT4, MT5, TradingView
- Minimum Deposit
- $10
- Regulator
- FSC
- Account Currencies
- USD, EUR
Pros
- The R Stocks Trader platform rivals leading solutions like MT4, with netting and hedging capabilities, comprehensive backtesting, Level II pricing, and a flexible workspace.
- RoboForex offers over 12,000 instruments, providing more short-term trading opportunities than the vast majority of online brokers, with forex, stocks, indices, ETFs, commodities, and futures.
- In 2026, RoboForex introduced swap-free trading across eligible accounts and regions, removing overnight interest charges, and potentially appealing to swing forex traders, though spreads and commissions may still apply.
Cons
- Despite offering a range of platforms, RoboForex still doesn't support the increasingly popular cTrader. This might deter traders who prefer this specific platform for their day trading activities and is available at firms like Fusion Markets.
- RoboForex provides a variety of account types, which, while offering flexibility, can be overwhelming for newer traders trying to choose the most suitable option for their trading style. Alternatives, notably eToro, provide a smoother entry into online trading with one retail account.
- Despite 15+ years in the industry and registering with the Financial Commission, RoboForex is authorized by one ‘Red-Tier’ regulator – the FSC in Belize, lowering the level of regulatory protections for traders.
Why Trade Ripple (XRP) with Eightcap?
Eightcap delivers in every area for day traders with a growing selection of charting platforms, education via Labs, and AI-powered tools. Now sporting 120+ crypto CFDs, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row.
Christian Harris, Reviewer
Eightcap quick facts
- 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, TradeLocker
- Minimum Deposit
- $100
- Regulator
- FCA, ASIC, CySEC, FSC, SCB, FSA
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, SGD
Pros
- Eightcap has brought in GOLD247 for 24/7 trading opportunities on a gold/USD CFD with leverage up to 1:20, minimum trade size of 0.01 lots, and no commission, appealing to weekend traders interested in the precious metal.
- Eightcap added TradeLocker in 2026 for certain regions, marking it out as the best regulated TradeLocker broker, while still delivering Eightcap's ultra-fast execution and low fees for active traders on the charting software.
- 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 in Labs, Eightcap still trails IG’s comprehensive toolkit for aspiring traders with its dedicated IG Academy app and 18 course categories.
- In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders.
- Eightcap needs to continue bolstering its suite of 800+ instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.
How DayTrading.com Chose The Top XRP Brokers And Exchanges
We ranked Ripple (XRP) brokers and exchanges using overall ratings informed by over 200 metrics across eight core categories.
Hands-on platform tests were also conducted by our team, including traders who actively hold XRP in their own portfolios, ensuring practical, real-world relevance.
Broker Or Exchange?
The largest volume of crypto transactions, including for XRP, takes place on dedicated crypto exchanges like Kraken and BitMEX.
However, as the regulatory environment for cryptocurrencies developed, crypto brokers have also become commonplace.
From our standpoint, the most important difference between a Ripple exchange and a broker is that reputable regulators do not tend to licence exchanges as they do brokers.
This means that exchanges are not always obliged to meet the stringent criteria needed to obtain a licence from a regulator on our ‘green-tier’ list, such as the UK’s Financial Conduct Authority (FCA), and will not be obliged to regularly report activities to maintain a licence.
Traders on an exchange will also miss out on protections that must be provided to clients of brokers, such as the £85,000 indemnity cover available in the UK from FCA-regulated brokers.
Of course, there are some benefits to trading with an exchange – the range of crypto assets is usually higher, with more tokens paired with Ripple; the spreads might be slightly narrower; and you will not be constrained by regulatory rules like leverage caps.
But generally we opt for the more secure XRP brokers and suggest all but the most experienced crypto day traders to do the same.
How To Choose A Ripple Provider
These are the critical areas to consider when choosing an XRP trading provider:
Trust
Always take the time to ensure the broker or exchange you deal with is reputable and above board – this is the most important step you can take to protect your hard-earned cash.
Ripple’s own CTO, David Schwartz, has warned of the potential for crypto scams built on the XRPL network, illustrating the added risk of day trading crypto tokens like XRP.
This is why we always use the following steps to assess the reliability of a broker or exchange as a priority in our reviews:
- We thoroughly assess cover by regulators and other third-party organizations. For a broker, this involves identifying which regulators have granted licences and checking that all of these are up to date. For an exchange, we might check for third-party auditing and specific registrations (such as a Money Services Business registration in the US).
- We prioritize brokers and exchanges that have been in the business serving large client bases for a long time.
- We form our opinion about the broker by personally testing its products.
There are also some red flags we look out for when assessing whether a Ripple exchange or broker is reliable:
- We check the track record of Ripple brokers and exchanges to find and rule out any that have been involved in fraudulent or unscrupulous activity.
- We read through the firm’s website and promos to look for poorly spelt and ungrammatical material – in our experience, sure signs of an unprofessional if not openly fraudulent company.
- We carefully check the URL of a site to ensure it is not a clone of a legitimate firm.
- We instantly rule out any broker or exchange that approaches us via social media, or that advertises unrealistic or guaranteed returns on investment.
- Year after year, Pepperstone remains one of our most trusted Ripple brokers as it has consistently maintained the high standards required for its licences from numerous top regulators, including the FCA and the Australian Securities and Investments Commission (ASIC).
Trading Vehicles
Whether you buy and sell XRP directly or speculate on price movements through a crypto derivative, the trading vehicle makes a huge different to your trading style so choose wisely.
We’ve found that XRP day trading often relies on derivatives such as crypto CFDs as these can be used to make long or short plays with leverage.
- FXCC‘s XRP/USD CFDs continue to be an enticing way to speculate on Ripple, allowing both long and short plays with leverage of 1:5 – more than enough to take advantage of this volatile instrument’s price swings.
Charting Platforms
You should choose a provider with a platform that allows you to easily research markets and read Ripple charts.
Many experienced traders prefer the tried and tested MetaTrader 4 and MetaTrader 5 platforms, as these are available from the largest range of brokers and come with a good range of indicators and support for algorithmic trading.
Newer platforms like TradingView have gained traction among our team and other XRP traders, as they improve the user experience with the increased number of integrated tools and social-trading features.
Finally, proprietary platforms are commonly offered by exchanges and some brokers, and are sometimes custom-built to suit the available assets.
- FOREX.com still tops our Ripple broker charts for its platform options, which include MT4, MT5 and TradingView as well as a proprietary Web Trader. These are supplemented by news and data feeds as well as tools such as Trading Central, making for a comprehensive suite with the power to take your XRP trades up a level.
Pricing
We’ve found that pricing is paramount for day traders choosing a Ripple broker or exchange, as short-term trading quickly racks up fees.
In our experience, brokers and exchanges generally build their fees into the price of trading through a spread – the difference in price between buying and selling an XRP token.
We’ve also found that exchanges use pricing models based on ‘maker’ and ‘taker’ fees – that is, fees levied on the spread of market makers who add liquidity through limit orders, and takers whose market orders are executed immediately.
Maker fees are usually cheaper than taker fees, and many exchanges offer discounted rates for high-volume traders.
When it comes to pricing, I’ve found that exchanges usually beat out crypto brokers since they usually operate as peer-to-peer networks, whereas brokers are intermediaries. However, you have to weigh that against the additional services and added reliability provided by brokers, and I’m usually happy to trade XRP with the latter.
Jemma GristAuthor- IC Markets consistently beats out other Ripple brokers when it comes to pricing, with no commission charged on its crypto CFD trades and transparent pricing on its website, which quotes its minimum and average spreads, both of which are in our experience among the lowest on the market.
Execution Quality
You should choose an XRP provider with high execution quality because you’ll need fast execution with minimal slippage to make the most of your Ripple day trades.
In our experience, execution speeds below 100ms can be considered fast, though some Ripple brokers achieve average speeds that are significantly faster.
Some brokers also provide guarantees against requotes, ensuring that your order will go through at the quoted price.
- Our experts rate FxPro as one of the best Ripple brokers for execution quality due to its consistently fast execution – often under 13 milliseconds – with minimal slippage and a no requotes policy.
Account Options
Fast and low-cost deposits and withdrawals are an under-appreciated feature of a good broker, but we place a high value on this.
It’s incredibly frustrating to miss out on a golden trading opportunity because trading funds don’t reach your account on time, or to see your profits melt away in withdrawal charges or other non-trading fees, so you should pay attention, too.
Other important account options to look out for include crypto deposits – a big plus for Ripple traders – and the provision of swap-free accounts for Islamic traders.
- AvaTrade offers trading on XRP with reliable, fast and low-cost account funding and withdrawals. Payment methods include Skrill, Wire Transfer, WebMoney, Debit Card, and Boleto.
Bottom Line
Ripple brokers enable traders to speculate on the price of XRP, a unique altcoin that acts as a bridge, complementing other currencies.
Reviewing the features and account types offered by each broker will ensure you get the best deal on XRP.
To get started, see our pick of the top XRP trading platforms.
Article Sources
The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com