Top 5 CFD Brokers to Buy Cryptocurrencies

The crypto market is one of the most volatile markets among other asset classes. The volatility is the best friend of a speculator as it gives a chance to gain profits when prices move in both directions. In contrast to long-term investors using the buy-and-hold strategy, traders can buy or sell cryptocurrencies, making money on two-way price action. Though, how can someone sell a cryptocurrency without having it? Financial markets give such an opportunity with derivative tools such as Contracts For Difference or CFDs. This type of financial products became popular among speculators interested in gaining on price change without the physical supply of the asset. Many companies offer crypto CFDs nowadays, and we gathered the best cryptocurrency brokers in this review. Before we dive deep, we should remind potential investors and traders about the money management rules. Trading cryptocurrencies imposes the high level of risk to lose initial capital, therefore, you should not deposit an amount which you cannot afford to lose.

Tips what to look for when choosing CFD Broker:

Regulatory environment

Negative balance protection – Must Have!

Leverage –ability to borrow and multiply capital

Spread – the lower the better

Platform Features

1. CFD Broker – eToro

With the broadest range of cryptocurrencies available to trade, eToro has one of the most popular social trading platforms across the globe. eToro is not just a brokerage company with a traditional approach, but a social network, gathering people interested in trading cryptos and other financial instruments online. Unique CopyTrade Technology allows eToro’s customers to follow profitable pros automatically, while the simple-to-understand interface of the trading platform provides a quick start for beginners. The broker has offices in the U.K, USA, Australia and Europe, offering the highest level of customer support available 24/5. One of the leaders of the FinTech revolution, eToro keeps working on innovative solutions to make access to financial markets easier for more than 12 years.

eToro Review

  • Largest Social Trading Platform
  • 11 Million Users Worldwide
  • Copy Experienced Traders
Capital at Risk
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eToro has a large number of regulations and licences provided by different authorities in several regions including FCA in the UK, CySEC and MiFID in Europe and ASIC in Australia. eToro is one of the best crypto brokers for US-based clients as the company is registered with FinCEN as a Money Services Business in the USA.  

eToro Broker Features

When established in 2007, the company decided to follow a hard path of creating its own innovative trading platform and integrating different modules and tools to the range of services available for million clients all around the world. The social trading solution became very popular among retail investors and beginners every eToro’s customer has access to other traders’ performance. The trading software allows investors selecting best crypto traders to follow automatically with additional settings to implement the CopyTrade technology proportionally and thus avoid too much risk related to the difference in account balances.

Besides attractive solutions for retail and short-term traders, eToro developed CopyPortfolios (formerly CopyFunds) – a long-term investment product based on machine-learning AI technology. The software generates a list of the most reliable trading results with predetermined strategy and for a selected asset class, saving investors hundreds of hours to analyse individual trader’s performance.

Particularly for the expanding FinTech industry, eToroX (regulated in Gibraltar) developed an exclusive app – eToro Crypto Wallet – allowing crypto investors save, exchange, buy (VISA and MasterCard accepted) and sell cryptocurrencies on the go without worrying about security issues.

In contrast to other brokers in our list, eToro offers the most comprehensive list of cryptocurrencies available to trade (15 coins versus USD) including 15 crypto crosses and 62 exchange rates of cryptos versus major currencies (Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, DASH, Litecoin, Ripple, Stellar, ZCash versus EUR, GBP, AUD, NZD, CAD, JPY and CHF). For example, traders can buy Litecoins for New Zealand dollars without additional operation to convert NZD to USD.

eToro Trading Platform Features

The web-based trading platform is intuitive and straightforward, users can quickly get its structure at the first site. Mobile apps (iOS and Android) and Demo accounts are available as well. The left-side navigation bar has main sections to switch the central box with useful information for traders. eToro customers may create their watchlists, selecting favourite assets to monitor prices. As long as we’re interested in Crypto asset-class, we created a new watchlist, adding all of the cryptos available (see the screenshot below).

In the list of assets, users can click on a chart to open an eToro ProCharts tool in a separate tab, which has a wide variety of technical analysis instruments. The watchlist is informative and compact, showing daily price change, buy and sell prices and recent traders’ sentiment. To open a trading position, you should click on buy or sell button, and order card will pop-up where you can choose trading volume for this particular deal with an option to enter a number of units or amount in basic currency, choose leverage (2:1 is maximum for cryptos) and set stop-loss and take-profit orders at a specific price. Additional fees (overnight and weekend) are indicated below the Open Trade button.

Social Trading is integrated into the platform. Once you clicked on Copy People in the navigation bar, you will get to the CopyTrade section where the software will offer you several options to follow other traders automatically. There’s also an advanced search tool.

eToro Review

  • Largest Social Trading Platform
  • 11 Million Users Worldwide
  • Copy Experienced Traders
Capital at Risk
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2. CFD Broker – Trade.com

Trade.com is a European FX and CFD broker based in Cyprus with strong educational and informational support for customers. The company has three trading platforms including WebTrader, Mobile apps to install on a smartphone or a tablet operating with both Android and iOS, and MetaTrader 4 desktop platform for Windows and Mac OS X. MT4 is an old version of modern MT5 platform, but it’s reliable and configurable. CFDs for cryptocurrencies are available in WebTrader and mobile app, but we failed to find them in MT4 desktop platform. Trade.com offers six most popular coins to trade with exchange rate versus the US dollar only – Bitcoin, Bitcoin Cash, Ethreum, Ethereum Classic, Litecoin and DASH.

Trade.com

  • Wide range of trading instruments
  • Margin requirements of 2-5%
  • Leverage is up to 1:100
Capital at Risk
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The broker is regulated in Cyprus by CySEC authority only, and the company does not accept clients from several jurisdictions including Japan, Canada and the USA.

Trade.com Broker Features

Trade.com offers five CFD account types with different spreads and support levels depending on the amount of initial deposit, Direct Market Access (DMA) accounts and Elective Professional Client Program. CFD GOLD account holders with minimal deposit $10,000 get free access to support by Trading Central – world’s leader in technical analysis. Trading Central tools include several customised technical indicators to enhance the efficiency of trading signals. PLATINUM and EXCLUSIVE account types offer Premium Customer Support from trade.com and lowest spreads. DMA platform is powered by Interactive Brokers, and it gives fast-track access for trade.com investors, advanced trading tools and market analysis, as well as customisable interface. Professional traders with portfolio in excess of EUR 500,000 can benefit from higher leverages according to European Securities and Markets Authority (ESMA) requirements.

Trade.com provides several resources to make profitable trading decisions including market news, economic calendar and trading signals, while the educational centre gives free access to learning materials and trading strategies.

Trade.com Trading Platform Features

WebTrader platform has four main sections placed on one screen, representing all of the data needed for a trader. Cryptocurrencies are added to the exotic currencies section in the list of asset classes on the left side. The watchlist includes several fiat currency pairs, while the exchange rates are indicated versus the U.S. dollar only. The data displayed in the list shows price change and day range, which reflects market volatility. The 24-hours trend is indicated in a small chart, while traders trend points to current market sentiment. If you clicked on an asset in the list, the appropriate chart will be opened in the bottom box below the watchlist. The charting tool can be maximized for detailed technical analysis with the addition of a wide variety of indicators and instruments. My account section displays current equity, used and free margin and profit/loss for open positions.

A screenshot below shows the order window to select the trading volume and set stop-loss and take-profit orders. The platform informs trader about the required margin in USD and accounts basic currency (GBP in our case), as well as potential profit and loss. There is no option to choose leverage, and trading hours are restricted for cryptocurrencies.  

Trade.com

  • Wide range of trading instruments
  • Margin requirements of 2-5%
  • Leverage is up to 1:100
Capital at Risk
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3. CFD Broker – Forex.com

Forex.com is one of the best brokers for cryptocurrencies with transparent and competitive pricing. The company claims to be global FX market leader since 2001 with a wide variety of professional trading platforms and advanced tools. Four major coins (Bitcoin, Ethereum, Ripple and Litecoin) are in the list of cryptos to trade against USD, EUR, GBP and AUD with fixed spreads and 25% margin requirement. forex.com is a trading name of GAIN Global Markets Inc. with headquarters in the USA and nine offices across the globe. The company is regulated in the Cayman Islands, which is comparatively light regulation, and Contracts For Difference are not available for U.S. customers. Traders can speculate cryptos without owning them, and there’s no need for a separate wallet. The main trading platform is MetaTrader 5 with desktop, web and mobile versions. Also, 20 MetaTrader apps are offered with custom indicators and expert advisors. Professionals would find useful a Virtual Private Server hosting for automated trading.

FOREX.com

  • Superior trade execution capability
  • Competitive spreads
  • Trade 4 Major Cryptocurrencies
Capital at Risk
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Forex.com Broker Features

The company focuses on providing a low level of spreads and commissions, ultra-fast order execution and professional customer support with sophisticated software tools for in-depth market analysis and research. forex.com is a reliable broker in terms of financial strength and clients’ trust. We’ve found two largest advantages which make the broker different competitors. MetaTrader 5 account holders can get free access to many additional apps helping traders make profitable decisions in the market. Those tools include nine expert advisors which generate trading signals and price alerts to find the best entry points and hold fingers on the market pulse. Besides, 15 customised technical indicators are provided by FXBlue.com would enlarge a trader’s equipment set to identify current market conditions.

One more forex.com’s distinctive feature is free VPS hosting service, which allows traders to run automated software and trading robots without running them on their hardware. Software developers specialised in expert advisors would find the VPS hosting service useful and easy to manage with access from any OS and web browser.

Forex.com Trading Platform Features

Web-based version of the MT5 trading platform is fully customisable as many different workspaces can be created. Traders can move, add or delete sections to get as comfortable view as they are got used to. Watchlists, price charts, news feeds, eceonomic calendar, fundamental and technical analysis articles, Autochartist volatility analysis and market reviews, and the current account conditions – this is not a complete list of data partitions available on the platform.

Trading Central section of the market analysis deserves special attention. Traders can take full advantage of technical insights, analysts views and featured trading ideas provided by the global leader in the technical analysis. An example of the professional outlook for Bitcoin is shown on the screenshot below.

The order ticket window is intuitive, and traders can quickly enter the required data to execute the order, while the software also shows additional information like pip value, required margin and percentage of available funds to allocate for this particular deal, which is extremely useful for money management. Traders would not be confused with asset symbols as the software displays ‘Bitcoin (£)’ instead of BTC/GBP.

FOREX.com

  • Superior trade execution capability
  • Competitive spreads
  • Trade 4 Major Cryptocurrencies
Capital at Risk
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4. CFD Broker – Plus500

Plus500 is definitely one of the best crypto brokers as the company’s regulations and global presence speak for itself. Plus500 is authorised and regulated by the FCA in the U.K., CySEC in Cyprus, ASIC in Australia, FMA in New Zealand, FCSA in South Africa and Monetary Authority in Singapore. With the own-developed outstanding trading platform, plus500 is highly rated and trusted CFD provider for many financial markets including crypto industry. 14 cryptocurrencies, including a unique Crypto 10 index, are available to speculate 24 hours 7 days a week. The company is a UK FTSE 250 listed in London Stock Exchange.

Plus500 Review

  • One of the Largest CFD Broker
  • Guaranteed Stop
  • Fast and reliable order execution
80.6% of retail CFD accounts lose money
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Plus500 Broker Features

Traders can take advantage of the leverage up to 1:30. The broker is mainly compensated by the difference in buy/sell prices, so there are no hidden fees and commissions. Plus500 does not charge for deposits and withdrawals as well.

Professional traders may apply for a higher level of leverage with no additional cost for services and protections provided for retail clients. For example, leverage for crypto CFDs would be increased ten times up to 1:20 (in the U.K.) if a customer were able to meet the regulator’s requirements.

Clients’ funds are held in segregated accounts as Plus500 cares about secure and safe operations. Research and development department continuously works on developing modern, fast and reliable products to control the trading process instantly. Mobile apps for Android and iOS allow clients to trade on the go from any place in the world.

Plus500 offers a unique asset to trade on the overall crypto market’s sentiment – Crypto 10 Index, which combines the volume-weighted value of 10 major coins. In case if a trader does not want to make in-depth analysis for separate cryptocurrencies but follows the general trend, Crypto 10 Index would be an attractive instrument to speculate as it is similar to stock indices like S&P 500 or FTSE 100.

Plus500 Trading Platform Features

The web-based trading platform is configured well, while all of the needed sections are located at hand. The navigation menu on the left side opens full options to control account settings and get access to economic calendar and other trading tools. Besides the trade section, left bar also has a list of open positions with additional chart window for every deal, trading history and pending orders.

Cryptocurrencies are highlighted with a separate section in the list of asset classes. The trading section is informative and easy to read even if you open the platform for the first time.

The order ticket does not pop up but appears on the right side of the screen without obscuring the watchlist and charting tools. The data displayed is standard while the required margin and trading volume are converted to the basic currency of the trading account.

Plus500 Review

  • One of the Largest CFD Broker
  • Guaranteed Stop
  • Fast and reliable order execution
80.6% of retail CFD accounts lose money
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5. CFD Broker – City Index

Another trading name of GAIN Capital – City Index – is authorised and regulated by the Financial Conduct Authority in the United Kingdom, ASIC in Australia and Monetary Authority in Singapore. Besides different leveraged products such as CFDs and Forex assets, City Index offers spread betting for cryptocurrencies. This type of trading is popular in the U.K. as it’s exempt from the country’s stamp duty and Capital Gains Tax. However, investors should consider getting additional consultations for every individual case. Both types of products are also free of broker’s commissions as the company earns on the difference of bid/ask prices. Spreads for crypto CFDs are fixed and ranged from 0.5% to 1% for major coins. City Index provides customer support service for all account types, including market analysis and education, available 24/5 in 180 countries. However, U.S. and Canadian residents cannot trade CFDs with City Index due to local regulations. The company was established in 1983 and has four offices across the globe.

CityIndex Review

  • Go long or short on Cryptos from 10p a point
  • Risk management tools
  • Actionable trade ideas
  • Trade anytime, anywhere
Capital at Risk
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City Index Broker Features

The broker has own research portal focused on fundamental and technical analysis tools powered by Trading Central. The in-depth market study delivers updates on current market conditions, offering trading ideas and buy/sell opportunities. City Index customers can also sign up for free SMS trading alerts and signals when prices perform significant movements. Signals also include direct links to the trading platform, so traders can immediately react to changing market situations.

The range of trading platform covers standard WebTrader, iOS and Android mobile apps, and downloadable desktop MetaTrader 4 and AT Pro. The last one was designed for experienced users and professional traders. The AT Pro platform allows traders to create own templates on C# and .NET and provides extensive charting tools with 100+ technical indicators.

Crypto investors should also pay attention to City Index policy on cryptocurrencies forking as when a hard fork happens, the broker reserves the right to determine which resulting coin would be the asset for current open positions, while some trading positions might be voided or clients could get a cash adjustment to their accounts depending on current valuations on exchanges the company deals with.

City Index Trading Platform Features

The WebTrader platform is exactly the same as forex.com provides. The screenshot below shows how the City Index AT Pro trading platform looks like. Users can customize the view, add or remove windows and sections. The charting tool was designed for professional technical analysis, and it has a wide variety of technical indicators and trading systems to send price alerts or point to attractive entry levels and market conditions. The analysis section provides market insights and trading ideas by Trading Central and Autochartist, as well as news and updates for different sectors. AT Pro can prepare trading reports to analyse the trading efficiency of automated algorithms.

The watchlist has a button to quickly open related headlines and news about this particular asset, which helps a trader to make profitable trading decisions and stay in touch with the market updates. The list of crypto CFDs combines exchange rates of major coins such as Bitcoin, Bitcoin Cash, Ethereum, Ripple and Litecoin versus USD, EUR, GBP and AUD. City Index Daily Funded Trade contracts (DFT, a spread betting instrument) offer 4 cryptocurrencies to buy or sell. The margin factor depends on the trading volume, spreads are fixed, while additional trading details can be found in the market information box for every asset.

CityIndex Review

  • Go long or short on Cryptos from 10p a point
  • Risk management tools
  • Actionable trade ideas
  • Trade anytime, anywhere
Capital at Risk
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