Cryptocurrency Forex Brokers
Cryptocurrencies are trading instruments that share a lot of similarities with the traditional currencies. Many retail foreign exchange brokers offer trading services in cryptocurrency pairs (in form of CFDs) on more favorable conditions compared to exchanges. The list below is similar to that of the Bitcoin FX brokers, except for the latter also includes companies that do not allow trading in BTC but support payments in that cryptocurrency. The brokers listed here usually offer such trading instruments as:
- BTC/USD — Bitcoin vs. US dollar;
- ETH/USD — Ethereum (or Ether) vs. US dollar;
- XRP/USD — Ripple vs. US dollar;
- LTC/USD — Litecoin vs. US dollar;
- DASH/USD — Dash vs. US dollar;
- ETH/BTC — Ethereum vs. Bitcoin;
- BTC/EUR — Bitcoin vs. euro;
- and so on.
However, not all of them permit funds deposit or withdrawal in cryptocurrencies. You will find 204 brokers listed in the table below.
The following points could sway you in favor of opening a trading account with a brokerage company offering cryptocurrency trading instruments:
- You want to try yourself at cryptocurrency trading and you already have a Forex trading account with some retail company.
- You are experienced Forex trader and you wish to apply the same tools and approaches you use with currencies to trading Bitcoin and altcoins. FX brokers would be more convenient for this than the traditional cryptocurrency exchanges.
- You would like to diversify your cash holdings without moving them away from your preferred trading platform.
- You seek a simple way to short cryptocurrency market.
- You want to trade Bitcoin but are afraid of exchange hacking and your funds being stolen.