Bitcoin brokers

Broker

Status

Vote Rating

Year

Reviews

Reliability Rating

XCritical

41%

59%

2015

Eth Profits

FxPro

Brokers by Type

Latest Reviews

Evgeniy Shestakov

I started trading with them with a minimum amount. They assigned me a manager who helped me with trading. My stock has already doubled in one day. The mentor began to say that I could earn even more, but I needed to increase the amount on deposit. I wanted to try to get the part out first, and told my mentor about it. After that I was unable to log into my account.

Arthur

I tried to trade here. Nothing worked out; for some reason, promising deals went into the red as soon as we tried to close them. The terminal could ignore orders for several minutes until the price of the asset changed for the worse.

Arthur

I really didn’t like that they called me several times a day after I registered my account. I didn’t even have time to top up the deposit when calls started coming in asking me to deposit as much money as possible and invest it all in an incredibly profitable deal. Such recommendations contradict any rules of money management. And that's why I refused to work with them. And then for another two weeks I blocked the left numbers from which they called.

Max

I met on VK girl from somewhere in the EU and corresponded with her for a couple of weeks and evenby videocommunicated. And then she started asking about my work and said that she herself is engaged in trading and lives well on the income from it and offered to introduce me to a person who has a good broker. Like a fool, I agreed and gave my contacts, and within a day they called me and started telling me tales about huge incomes and pointing out some graphs and reports. A day later I transferred money to the account to scrape $300 according to mystockpiles and tried it at the merchant. My trading almost immediately went negative. I realized that it was not mine and wanted to withdraw the money, but I was thrown out of my personal account and was not allowed back.

Egor

Rakuten Trade clearly does not look like a normal broker. Too many jambs. It is very difficult to open an account with him; it is impossible to trade normally. Any transaction becomes unprofitable due to direct and hidden commissions.

Matvey

I fell for the promises of the bitprojectinvests manager like a horse. And now I can’t even withdraw my money.

All reviews

Bitcoin Brokers: Why They Are Needed and How to Choose the Best One

Bitcoin (BTC) is the most liquid, expensive, and sought-after cryptocurrency. Many consider it the currency of the future, as it has repeatedly broken price records.

BTC serves as both an investment asset and a speculative tool, making it suitable for long-term capital investments and profiting from frequent and strong price fluctuations. Bitcoin has garnered the interest of speculators accustomed to earning from cryptocurrency.

This growing interest has led to the emergence of Bitcoin brokers. Let’s delve into why they are necessary, the different types available, and whether they can be trusted.

Types of Bitcoin Trading Brokers

In 2022, Bitcoin brokers can be broadly categorized into two groups. The first group offers investment options based on Bitcoin, such as ETFs (Exchange-Traded Funds) and futures contracts. These are known as exchange brokers.

The second group consists of off-exchange intermediaries and dealers often referred to as “kitchens.” They simulate cryptocurrency trading.

It’s important to note that purchasing actual Bitcoin through a broker is not possible; however, various derivatives can be acquired.

Leading exchange brokers that offer Bitcoin futures and ETFs include Interactive Brokers, a prominent player in retail forex trading, a prime broker, liquidity provider, and a major player in its field. For example, Interactive Brokers provides futures contracts from the CME Group, the largest derivatives marketplace. These contracts are equivalent to 5 BTC, making them five times more expensive than actual Bitcoin.

In 2021, BCS promised a Bitcoin-based ETF listed on NYSE, which represents a full-fledged exchange asset with real value.

The second group of Bitcoin brokers is extensive and includes a mix of fraudsters unrelated to trading, as well as legitimate “kitchens.” These kitchens operate legally and contribute to the ranking of Bitcoin brokers.

“Kitchens” do not execute traders’ transactions but rather offer proprietary derivatives. While it is possible to make a profit with them, this is only feasible if the Bitcoin broker is licensed and trustworthy.

Reliable BTC Broker: Where Can You Trade Bitcoins Now?

Choosing a Reliable Bitcoin Broker The criteria for selecting a cryptocurrency intermediary are similar to those for traditional forex brokers:

Possession of a license Transparent service Reasonable service fees Good reputation The majority of brokers who offer cryptocurrency pairs fall short in the first criterion. They either lack a license entirely or possess an offshore license.

Our top Bitcoin broker recommendations help you choose a reliable intermediary. We meticulously assess each broker, collecting information and feedback from various independent sources to provide an accurate evaluation.

Do You Need a Bitcoin Broker? To make the right choice, it’s important to answer the question: “Why?” If your goal is to trade fiat-crypto pairs, finding a broker might be sensible. If you wish to trade cryptocurrency on the market, a crypto broker may be unnecessary.

Bitcoin Broker vs. Cryptocurrency Exchange: Pros and Cons

What are the advantages attributed to cryptocurrency brokers online?

Convenience: Traders need not navigate blockchain settings themselves. They can open an account and start trading. Fewer technical issues: Support is readily available for quick assistance. Advanced platforms: Available for PCs, smartphones, and tablets. Leverage: Offers the chance to amplify profits with less capital. The primary downside of cryptocurrency brokers is their costs. They charge commissions and increase spreads.

With “kitchens,” the costs are coupled with a conflict of interest. They might manipulate client transactions to avoid paying profits out of their own pockets.

Turning to cryptocurrency exchanges, the registration process is simple, and the customer support is responsive. Additionally, purchased instruments can not only be sold but also withdrawn to external wallets or other exchanges, enabling arbitrage opportunities.

Leverage is also manageable. Leading cryptocurrency exchanges offer derivatives, such as crypto futures, which allow for opening and closing substantial positions, even without the required capital.

The key advantage of cryptocurrency exchanges is that their costs can be minimal or nonexistent. Market makers, those who sell cryptocurrency below market value and buy it at a higher price, receive this privilege as they provide liquidity through their orders. Exchanges incentivize this behavior.

Fees on cryptocurrency exchanges are significantly lower than those of brokers, often by tens or hundreds of times. If your goal is Bitcoin trading and not derivatives, exchanges are the way to go.