Stellar Day Trading – Tutorial, Brokers and Buying guide

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Written By
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Written By
Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
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Edited By
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Edited By
Tobias Robinson
Tobias is a partner at DayTrading.com, director of a UK limited company and active trader. He has over 25 years of experience in the financial industry and contributed via CySec to the regulatory response to digital options and CFD trading in Europe. Toby’s expertise and dedication to financial education make him a trusted voice in the industry, including a BBC investigation into digital options.
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Fact Checked By
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William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
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Stellar is a distributed, hybrid blockchain. It works as a decentralised cryptocurrency based on Lumens, with the ticker symbol ‘XLM’. This page will break down everything you need to know about Stellar, including the cryptocurrency’s history, wallets and future price projections. Finally, some top tips on how to start day trading with Stellar coins will be given.

Stellar Brokers

Here is a summary of why we recommend these brokers in May 2025:

  1. eToro USA - eToro US offers 24 tradeable cryptoassets, with just a 1% buying/selling fee added to the spread. Additionally, there are 80 different coins available through the broker’s proprietary wallet service. You can also practice your crypto strategies easily by switching between live and demo mode. Crypto asset investing is highly volatile and unregulated. No consumer protection. Tax on profits may apply.
  2. RedMars - RedMars offers 13 crypto CFDs, including the popular BTC/USD, ETH/USD, and LTC/USD. However, there's no option to buy the underlying cryptocurrency. As a comparison, eToro allows the underlying purchase of 44 cryptocurrencies with copy trading on digital currencies also supported.
  3. Dukascopy - Dukascopy facilitates day trading on popular cryptos like Bitcoin against the US Dollar. You can go long or short with leverage up to 1:5. Unusually, clients of Dukascopy are also protected to the tune of CHF 100'000 in the event of brokerage insolvency.
  4. CEX.IO - CEX.IO offers hundreds of popular cryptocurrencies including big names like Bitcoin, Ethereum and Litecoin. The trading platform is well-designed with sophisticated charting and analysis tools, including 50+ in-built indicators. Traders can also reduce their monthly volumes through the tiered pricing structure.
  5. Uphold - You can buy and sell 250+ crypto assets with fiat currencies or in crypto pairs using the straightforward mobile app or through Uphold's browser-based account homepage. This is significantly more than many rivals. You can also earn up to 16% APY by staking one or more out of 32 valid tokens, or send tokens to an external wallet.
  6. Firstrade - Take positions on dozens of leading cryptocurrencies with low fees and 24/7 investing. Traders need just $1 to start speculating on popular tokens like Bitcoin. Clients can also buy cryptos instantly in a few straightforward steps.

eToro USA

"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."

Jemma Grist Jemma Grist, Reviewer

eToro USA Quick Facts

Bonus OfferInvest $100 and get $10
CoinsBTC, ETH, BCH, DASH, LTC, ETC, MIOTA, XLM, EOS, NEO, ZEC, XTZ, MKR, COMP, LINK, UNI, YFI, DOGE, AAVE, ALGO, MANA, ENJ, BAT, MATIC, FLR, SHIBxM
Crypto MiningNo
Auto Market MakerNo
Crypto SpreadBTC 0.75%
Crypto LendingNo
Crypto StakingNo
PlatformseToro Trading Platform & CopyTrader
Minimum Deposit$100
RegulatorSEC, FINRA
Account CurrenciesUSD

Pros

  • The online broker offers an intuitive social investment network with straightforward copy trading on cryptos
  • The broker's Academy offers comprehensive learning materials for beginners to advanced-level investors
  • The low minimum deposit and straightforward account opening process means beginners can get started quickly

Cons

  • Average fees may cut into the profit margins of day traders
  • There's no MetaTrader 4 platform integration for traders who are accustomed to using third-party charting tools
  • There's a narrower range of day trading instruments available compared to competitors, with only stocks, ETFs and cryptos

RedMars

"RedMars is the best fit for experienced day traders familiar with the MetaTrader 5 platform and based in the EU, where the broker is authorized by the CySEC. However, the threadbare education and research tools make it unsuitable for beginners."

Christian Harris Christian Harris, Reviewer

RedMars Quick Facts

CoinsBTC, ETH, LTC, XRP, XLM, DOT, ZEC, XMR, QTM, NEO, EOS, BCH, DSH
Crypto MiningNo
Auto Market MakerNo
Crypto Spread65
Crypto LendingNo
Crypto StakingNo
PlatformsMT5
Minimum Deposit€250
RegulatorCySEC, AFM
Account CurrenciesUSD, EUR

Pros

  • Clients in the EU, in particular, can trade with peace of mind knowing RedMars is authorized by the CySEC with up to €20K compensation available through the ICF in the event of bankruptcy
  • Getting started on RedMars is incredibly easy - you can be up and running in just a few minutes based on tests
  • RedMars offers one of the best platforms for day trading, MT5, hosting 21 timeframes, dozens of analytical tools, flexible templates and algo trading

Cons

  • With just 300 instruments, RedMars offers a narrow trading environment, particularly compared to category leaders like BlackBull Markets which offers 26,000 assets
  • RedMars falls short for newer traders, with little in the way of education, no beginner-friendly platform, a steep minimum deposit, and inadequate support during testing
  • The no-frills trading environment offers little beyond the basics, with no Islamic account, PAMM account or copy trading.

Dukascopy

"If you’re an experienced trader, Dukascopy provides the tools you need: JForex for algorithmic strategies, competitive spreads from 0.1 pips, leverage up to 1:200, and the peace of mind of using a Swiss-regulated bank and broker."

Christian Harris Christian Harris, Reviewer

Dukascopy Quick Facts

Bonus Offer10% Equity Bonus
CoinsADA, AVE, BAT, BCH, BTC, CMP, DSH, ENJ, EOS, ETH, LNK, LTC, MAT, MKR, TRX, UNI, XLM, YFI
Crypto MiningNo
Auto Market MakerNo
Crypto Spread0.1
Crypto LendingNo
Crypto StakingNo
PlatformsJForex, MT4, MT5
Minimum Deposit$100
RegulatorFINMA, JFSA, FCMC
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, PLN, CZK, AED, SAR, HUF, MXN

Pros

  • Dukascopy offers tight spreads starting from 0.1 pips, leverage up to 1:200 (depending on the jurisdiction), and volume-based commissions that reward high-frequency traders.
  • Dukascopy is regulated by the Swiss Financial Market Supervisory Authority (FINMA) as both a broker and a bank, ensuring top-tier financial security and adherence to strict standards.
  • The proprietary JForex platform is highly advanced, offering tools for algorithmic trading, extensive charting, and access to deep liquidity for short-term traders.

Cons

  • While JForex is feature-rich, it has a steep learning curve, making it less suitable for beginner traders who might prefer simpler platforms.
  • While Dukascopy provides some educational resources and 24/7 support, the complexity of its platforms and tools required extensive testing and may overwhelm newer traders.
  • Dukascopy's withdrawal fees are higher than most competitors we’ve tested, particularly for bank wire transfers, which may deter traders who require frequent access to their funds.

CEX.IO

"CEX.IO continues to serve a range of crypto investors looking to buy, sell, trade, hold and earn with low fees. The tiered pricing structure will appeal to active traders while rookie investors will enjoy the straightforward platform interface and excellent education."

Tobias Robinson Tobias Robinson, Reviewer

CEX.IO Quick Facts

CoinsZRX, 1INCH, AAVE, BTC, BCH, ADA, LINK, COMP, ATOM, DAI, DOGE, ETH, GUSD, ICP, LTC, LRC, MATIC, MKR, DOT, SHIB, SOL, XLM, SUSHI, SNX, USDT, XTZ, USDC, UNI, WBTC, ZIL
Crypto MiningYes
Auto Market MakerNo
Crypto Spread0.15% maker & 0.25% taker (Standard)
Crypto LendingYes
Crypto StakingYes
PlatformsTradingView
Minimum Deposit$20
RegulatorGFSC
Account CurrenciesUSD, EUR, GBP

Pros

  • CEX.IO has remained a trusted crypto exchange since its launch, with 5+ million users
  • CEX.IO continues to offer competitive pricing with 0.01% taker and 0% maker fees for high-volume traders
  • There's a wide range of global payment methods available including PayPal

Cons

  • The broker has limited regulatory oversight
  • A maintenance fee applies after 12 months of no activity
  • Deposit and withdrawal fees are relatively high, including 0.3% + $25 for SWIFT withdrawals

Uphold

"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."

William Berg William Berg, Reviewer

Uphold Quick Facts

CoinsBTC, BTCO, AAVE, ALCX, DYDX, INH, XYO, API3, GHST, LSK, AUDIO, GLMR, NMR, CAKE, GODS, REQ, CHR, TRB, DAO, ROOK, XRP, ETH, BAT, ADA, ALGO, ATOM, AVAX, AXS, BCH, BAL, BTG, CSPR, COMP, CRV, DASH, DCR, DGB, DOGE, DOT, EGLD and many more
Crypto MiningNo
Auto Market MakerNo
Crypto SpreadUp to 1.5%
Crypto LendingNo
Crypto StakingYes
PlatformsDesktop Platform, Mobile App
Minimum Deposit$0
Account CurrenciesUSD, EUR, GBP

Pros

  • The proprietary app is extremely easy to use with a slick design and navigation
  • Uphold continues to remain ahead of the industry, often being one of the first platforms to list new crypto tokens
  • Fees are competitive based on tests, with 26 underlying platforms helping to source the best prices

Cons

  • Customer service is slow based on tests, with limited contact options
  • There is a 2.49% fee if you want to use debit or credit cards
  • The charting analysis features on the platform trail specialist exchanges

Firstrade

"Firstrade is perfect for beginners looking to trade US stocks with zero commissions. There is a wealth of free education plus premium-quality research, notably through its latest FirstradeGPT tool, plus trading ideas from Morningstar, Briefing.com, Zacks and Benzinga."

William Berg William Berg, Reviewer

Firstrade Quick Facts

Bonus OfferDeposit Bonus Up To $4000
CoinsALGO, AVAX, BAT, BTC, BCH, ADA, LINK, ATOM, CRO, CRV, MANA, DOGE, ETH, ETC, FTM, LTC, LRC, MATIC, REN, SHIB, SOL, XLM, SUSHI, GRT, UNI, YFI
Crypto MiningNo
Auto Market MakerNo
Crypto SpreadVariable
Crypto LendingNo
Crypto StakingNo
PlatformsTradingCentral
Minimum Deposit$0
RegulatorSEC, FINRA
Account CurrenciesUSD

Pros

  • Highly trusted US-regulated brokerage and SIPC member
  • One of the first brokers to add AI-powered analysis through FirstradeGPT
  • Enhanced stock trading environment with overnight trading and fractional shares added

Cons

  • Firstrade focuses on stocks at the expense of forex, limiting diversification opportunities
  • Customer support still needs work following testing with no 24/7 assistance
  • No demo/paper trading account found at over 90% of alternatives evaluated

What is Stellar?

Before considering the cryptocurrency’s potential, how precisely it works needs to be explained. Essentially, Stellar is an open-source payment technology that seeks to connect financial institutions, while seriously reducing the cost and time associated with cross-border transfers. For that reason, it is somewhat like the Ripple network. In fact, they both share the same initial protocol.

The stellar protocol is actually supported by a nonprofit, the Stellar Development Foundation. The Stellar blockchain enables users to generate their own tokens and Stellar can manage as many as 1,000 transactions each second.

day trading with Stellar

The cryptocurrency itself is based on Lumens. Each Lumen is a single unit of the currency. Initial supply was to be around 100 billion. 18 million or so XLM were swiftly in circulation.

One of the clear advantages of the cryptocurrency is that buying Lumens allows users to interact with a number of fiat currencies with ease. For example, both forex traders and travellers can capitalise on swift and straightforward access to the US dollar or Euro.

Overall then, their vision is clear if not challenging – they seek to revolutionise global financial transactions. Specifically, they want to allow developing nations to take part in global finances, starting in the South Pacific.

History

The Stellar team came to life in 2014. The cryptocurrency creators were the co-founder of the Ripple, Jed McCaleb and former lawyer Joyce Kim. In fact, the company was launched when McCaleb left Ripple after a number of disagreements. But while this may have dampened the outlook of Ripple, it ensured the Stellar owner had a point to prove.

At the initial launch, Stellar was built on the Ripple protocol. However, forking took place once a number of changes to critical consensus code were made. The Stellar Development Foundation built an updated version of the protocol, boasting a new consensus algorithm, based on a totally new code. April 2015 then saw the release of the white paper. The updated coin network then went live in November 2015.

Stellar Partnerships

Future value predictions for this cryptocurrency often hinge on information about potential partners. Fortunately, the company has secured investment and deals with a number of high profile enterprises, including:

 

Stellar Live Chart

Architecture

Take the Stellar cryptocurrency vs Ripple and Bitcoin and a couple of clear differences arise. Firstly, Ripple is a closed system, whereas Stellar is open source. Servers run a software implementation of the protocol while using the internet to interact with other Stellar servers, creating a global value exchange network.

Each server makes a record of every account on the network. These details are then stored in a database, also known as a ledger. Servers will put forward changes to a ledger by suggesting transactions which move accounts from one location to another, by spending an account’s balance or altering a property of an account. All servers will then reach an agreement on which transactions to apply to the current ledger, known as ‘consensus’. This mechanism takes place regularly, every two to four-seconds in fact. As a result, each server’s copy of the ledger is synced and kept exactly the same.

The consensus protocol also means Stellar does not require coin mining pools, unlike the Bitcoin cryptocurrency.

On top of the protocol difference, Stellar’s CEO also seeks different customers. Ripple focuses on established banking institutions to enhance their cross-border transfer technology. Whereas Stellar is concerned with developing markets and has a number of uses for its technology, from money remittances to bank loan distribution to the unbanked.

Inflation

The coin’s rate is kept stable as Stellar has a built-in inflation system. Small amounts of free XLM are given to members. A tiny fraction of the Lumens taken from each operation goes towards inflation, as well as all other Lumens dispensed into circulation.

Benefits

There are a number of advantages to the Stellar cryptocurrency, including:

Drawbacks

Before you decide to purchase any of this cryptocurrency, coin reviews have highlighted a number of drawbacks, including:

So while coin reviews are mostly positive and their purpose admirable, market history shows us price can tumble at a moments notice. Not to mention, maintaining and gaining market share when competition is so fierce is challenging to say the least.

Where to Buy Stellar Coins

Fortunately, as a result of an increasing number of coin exchanges becoming available, buying Lumens is relatively straightforward. The cryptocurrency exchanges Binance, Bittrex, Poloniex, Kraken and Coinbase all have Stellar coins available for purchase. It is also possible to speculate on price movements without using an exchange, many brokers now offer single click access to crypto trading. IQ Option offer access to over 20 different coins and tokens.

Wallets

Now you know where to buy Stellar coins. However, you will also need to store your new coins in a wallet. You get a choice between mobile, desktop and web wallets. In fact, all of the following wallets support Lumens:

Faucets

There is also an option for those looking to get free stellar coins. Cryptocurrency faucets, usually found on websites or apps, are effectively reward systems. They simply give away coins in return for completing a captcha or task detailed on the website. If used correctly, faucets can help increase your total number of coins, which you can then use to day trade.

What’s Next for Stellar?

Trading reviews impress with the cryptocurrency’s price history and performance. Strong partnership deals and a focus on a stronger lightning network are likely to increase the coin’s future price predictions. Furthermore, The Stellar Decentralised Exchange (SDEX) is set to enhance scalability and security. It aims to bring cheaper rates between assets as well as low trading fees.

Despite the number of positives, coin and price graphs often fail to signpost potential pitfalls. Stellar certainly does come with risks. Strong competition and a monopoly on coin ownership could all prove dangerous for aspiring traders.

For further crypto guidance, see our cryptocurrency page.