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 Japan:
-
- 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: BTC 42.036
- Min. deposit: $200
- Regulator: ASIC, CySEC, FSA, SCB, CMA-Kenya
-
- Crypto Spread: Floating
- Min. deposit: $200
- Regulator: FSC
-
- Crypto Spread: 12 average (Bitcoin)
- Min. deposit: $0
- Regulator: FMA, FSA
-
- Crypto Spread: Variable
- Platforms: MT4, MT5
- Min. deposit: $0
84.6% of retail CFD accounts lose money.
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 Japan 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.
- 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.
- IC Trading 4.2/5 You can trade over 20 of the most popular cryptos with leverage up to 1:200 seven days a week, although direct trading of the underlying asset like purchasing Bitcoin or Ethereum is not facilitated. The selection of tokens also trails Eightcap, which picked up our 'Best Crypto Broker' award, offering 100+ crypto derivatives.
- BlackBull 4.5/5 BlackBull excels for active traders interested in trading crypto. It has grown its selection of cryptocurrencies, now providing 27+ digital tokens, including Bitcoin, Ethereum, and Trump, with all cryptos paired with USD. But pricing is where it excels, with testing revealing average spreads of around 12 on BTC/USD - less than half that of competitors like Eightcap, plus there’s no commission, making it considerably cheaper than most crypto CFD brokers. BlackBull also offers separate well-presented crypto guides for beginner, intermediate and advanced traders. Up to 1:100 leverage is available on cryptos.
- FXCC 4.6/5 FXCC has ramped up its range of cryptocurrencies for trading, going from under 10 to more than 30. There are no restrictions on crypto day trading strategies with Expert Advisors (EAs) permitted. Digital currencies can be traded 24/7 with no commission and leverage up to 1:20.
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) |
| 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 |
| IC Trading | ✔Yes | Credit Card, Debit Card, Mastercard, Neteller, PayPal, Visa, Wire Transfer | FSC |
| BlackBull | ✔Yes | Airtm, Bitcoin Payments, Boleto, Credit Card, Debit Card, Ethereum Payments, FasaPay, Mastercard, Neteller, Skrill, UnionPay, Visa, Wire Transfer | FMA, FSA |
| FXCC | ✔Yes | Bitcoin Payments, Credit Card, Debit Card, Ethereum Payments, Klarna, Mastercard, Neteller, Skrill, Sofort, Visa, Wire Transfer | CySEC, MISA |
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 | |
| IC | ✘No | ✔Yes | ✔Yes | |
| IC Trading | ✘No | ✘No | ✔Yes | |
| BlackBull | ✘No | ✔Yes | ✔Yes | |
| FXCC | ✘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 | ||
| IC | iOS & Android | ✘No | ||
| IC Trading | iOS & Android | ✘No | ||
| BlackBull | iOS & Android | ✘No | ||
| FXCC | 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 | ||
| IC | ✔Yes | $200 | 0.01 Lots | ||
| IC Trading | ✔Yes | $200 | 0.01 Lots | ||
| BlackBull | ✔Yes | $0 | 0.01 Lots | ||
| FXCC | ✔Yes | $0 | 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 |
| IC | Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade | ✔Yes | ✘No | ✘No | 1:5000 | ✔Yes | ✘No |
| IC Trading | Expert Advisors (EAs) on MetaTrader, cBots on cTrader | ✔Yes | ✘No | ✘No | 1:500 | ✔Yes | ✘No |
| BlackBull | Expert Advisors (EAs) on MetaTrader, cBots on cTrader | ✔Yes | ✔Yes | ✘No | 1:500 | ✔Yes | ✘No |
| FXCC | Expert Advisors (EAs) on MetaTrader | ✔Yes | ✘No | ✘No | 1:1000 | ✔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 | |||||||||
| IC | |||||||||
| IC Trading | |||||||||
| BlackBull | |||||||||
| FXCC |
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 | ||||
| IC | 4 | ||||
| IC Trading | 610 | ||||
| BlackBull | 3524 | ||||
| FXCC | 231 |
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’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 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 secured a category 5 license from the Securities and Commodities Authority (SCA) of the United Arab Emirates in late 2025, strengthening its regulatory credentials and making it a strong option for traders in the Middle East.
Cons
- XM is falling behind the curve by not offering cTrader, which is favored over MetaTrader by some serious traders for its smoother user experience and superior charting package.
- 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
- 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.
- 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.
- Support at AvaTrade performed excellently during testing, with response times of 3 minutes and localized support in major trading jurisdictions, including the UK, Europe and the Middle East.
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 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
- As a tightly regulated and widely respected broker, IC prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
- IC secured DayTrading.com's 'Best MT4/MT5 Broker' in 2025 for its seamless, industry-leading MetaTrader integration, refined over years to maximize the platform experience.
- 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
- Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
- 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.
Why Trade Ripple (XRP) with IC Trading?
With superior execution speeds averaging 40 milliseconds, deep liquidity, and powerful charting software, IC Trading delivers an optimal trading environment tailored for scalpers, day traders, and algorithmic traders.
Christian Harris, Reviewer
IC Trading quick facts
- Coins
- BTC, ETH, DSH, LTC, BCH, XRP, EOS, EMC, NMC, PPC, DOT, XLM, LINK, DOGE, XTZ, UNI, ADA, BNB, AVAX, LUNA, MATIC, GLMR, KSM
- Crypto Mining
- ✘No
- Auto Market Maker
- ✘No
- Crypto Spread
- Floating
- Crypto Lending
- ✘No
- Crypto Staking
- ✘No
- Platforms
- MT4, MT5, cTrader, AutoChartist, TradingCentral
- Minimum Deposit
- $200
- Regulator
- FSC
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
Pros
- IC Trading provides industry-leading spreads, including 0.0-pip spreads on major currency pairs such as EUR/USD, making it ideal for day traders.
- IC Trading offers unusual flexibility in its accounts, enabling traders to open up to 10 live and 20 demo accounts, meaning you can run separate profiles for different activities, such as manual trading and algo trading.
- Trading Central and Autochartist are valuable tools for in-depth technical summaries and actionable trading ideas and are accessible from within the account area or the cTrader platform.
Cons
- The educational resources are greatly in need of improvement, unless you navigate to the IC.com website, posing a limitation for beginners in search of a comprehensive learning journey, especially compared to category leaders like eToro.
- Customer support performed poorly during testing with multiple attempts to connect via live chat and no one available to assist, plus unanswered emails, raising concerns about its ability to address urgent trading concerns.
- Despite being part of the trusted IC group, IC Trading is authorized by a weak regulator - the FSC of Mauritius, with limited financial transparency and regulatory safeguards.
Why Trade Ripple (XRP) with BlackBull?
After improving its trading infrastructure with Equinix servers in London, reducing latency for traders, BlackBull is an obvious choice if you want to day trade stock CFDs with ECN pricing. With competitive spreads and no commission on a growing roster of digital tokens paired with USD, BlackBull also works for active crypto traders.
Christian Harris, Reviewer
BlackBull quick facts
- Coins
- BTC, ETH, SOL, XLM, XRP, BCH, ADA, SUI, TRUMP, LNK, DOT, DOGE, AAVE, AXS, HED, LTC, TRX, UNI, PYTH, ARB, BNB, AVAX, NEAR, ILV, ATM, INJ, POLY
- Crypto Mining
- ✘No
- Auto Market Maker
- ✘No
- Crypto Spread
- 12 average (Bitcoin)
- Crypto Lending
- ✘No
- Crypto Staking
- ✘No
- Platforms
- BlackBull Invest, BlackBull CopyTrader, MT4, MT5, cTrader, TradingView, AutoChartist
- Minimum Deposit
- $0
- Regulator
- FMA, FSA
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, SGD
Pros
- BlackBull is a much greater fit for aspiring traders following the overhaul of its ECN Prime account, now featuring improved spreads averaging 0.16 on EUR/USD and a more accessible minimum deposit of $0 compared to the old $2,000.
- BlackBulls’s research is superb, especially the daily ‘Trading Opportunities’ articles that break down complex market movements into easy-to-understand insights, making it simpler to capitalize on emerging trends.
- After partnering with ZuluTrade and Myfxbook, alongside improvements to its own CopyTrader, and finally enabling cTrader Copy, BlackBull offers one of the most comprehensive copy trading experiences we've seen.
Cons
- Despite a growing selection of 2,180+ assets, including additions to its Asia Pacific indices, they are mainly stocks with an average selection of currency pairs and indices.
- Unlike most top brokers, BlackBull charges an irritating $5 withdrawal fee, which can detract from the overall cost-effectiveness, especially for active traders who frequently move funds.
- Although the Education Hub now features improvements like webinars and tutorials, the courses we’ve explored need more focus on explaining the wider economic factors influencing prices.
Why Trade Ripple (XRP) with FXCC?
FXCC continues to prove itself an excellent option for day traders with a particularly strong selection of 70+ currency pairs, ultra-tight spreads from 0.0 pips during testing, and a free VPS for qualifying traders.
Jemma Grist, Reviewer
FXCC quick facts
- Coins
- BTC, BCH, ETH, LTC, XMR, DASH, XRP, ALG, ATO, AVE, AVX, AXS, BNB, BSV, CKE, DOT, ENJ, FTM, LNK, MEL, MNA, MTC, SHB, SND, SNX, SOL, TRP, UNI, WAV, XTZ, YFI
- Crypto Mining
- ✘No
- Auto Market Maker
- ✘No
- Crypto Spread
- Variable
- Crypto Lending
- ✘No
- Crypto Staking
- ✘No
- Platforms
- MT4, MT5
- Minimum Deposit
- $0
- Regulator
- CySEC, MISA
- Account Currencies
- USD, EUR, GBP, CAD
Pros
- FXCC has stepped up its offering over the years, adding MT5 to its suite of platforms, hundreds of stocks and more cryptos to its product line-up, plus a copy trading feature and greater margin trading opportunities.
- FXCC’s ECN XL account has been built with active traders in mind, featuring spreads from 0.0 with no commission, while also passing our execution speed benchmark for day traders.
- Customer support still relies on human agents with response times of under three minutes on live chat during our tests and knowledgeable reps - a welcome break from the frustrating AI chatbots increasingly offered by brokers.
Cons
- Although FXCC has bolstered its range of markets with US, European and Asian stocks, the choice of metals and energies is light, and there are no soft commodities.
- Although the economic calendar has benefited from a facelift, FXCC still offers very little in terms of market research beyond basic daily technical analysis and aggregated market news, with no tools like Autochartist or social sentiment data.
- Although regulated by the CySEC, FXCC’s offshore entity operates with weak regulatory oversight from MISA and may not provide safeguards like investor compensation in the event of broker insolvency.
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