FX Choice offers bitcoin as a deposit and withdrawal option, and supports trading of a number of crypto CFDs.Read More
The Best Bitcoin and Cryptocurrency Trading Platforms
There is a growing population of day traders interested in exploiting the short-term volatility of bitcoin, ethereum and the like. Catering to this market, a number of reputable forex brokerages have introduced cryptocurrency CFDs allowing for leveraged bitcoin and ethereum trading, and they offer these CFDs collateralized in regular fiat currencies, meaning you needn't exchange your cash into crypto to begin trading.
For crypto holders looking to use existing assets as margin against larger positions, a number of top notch platforms for futures and leveraged trading have emerged, with holding collateralized in bitcoin, ethereum, litecoin or even dash or ripple. Other more specialized brokers offer mainstream asset classes like forex and the like, which traders may collateralize in their crypto holdings. This is interesting from an investment perspective, but also for those who would like to hedge holdings without having to actually convert into fiat. We review all of these different bitcoin and cryptocurrency CFD platforms below.
If you are interested in simply buying some bitcoin, ethereum, or really any of the cryptocurrencies out there, check out our our comparison of the best exchanges. This page focuses more on leveraged trading opportunities.
Best Cryptocurrency Trading Platform Rankings for 2017
The Best Cryptocurrency Platform for Bitcoin Trading:
Runner Up: BitMEX
The Best Cryptocurrency Platform for Ethereum Trading:
Runner Up: Whaleclub
The Best Cryptocurrency Platform for Litecoin Trading:
Runner Up: AVATrade
The Best Cryptocurrency Platform for Ripple Trading:
Winner: Ava Trade
Runner Up: XTB
The Best Bitcoin Trading For USA Traders:
Best Forex Trading using Bitcoin:
BitMEX - Bitcoin Trading on 100:1 Leverage
The headline does injustice to the massive leverages offered on the other principle cryptos, but man, that is some headline. And do not think that BitMEX is a market maker offering more leverage than they can handle with positions slipping all over the place. A pretty ingenious trading instrument was developed allowing these instruments to be traded between counterparties in a pure exchange format, check out our bitMEX review for more details. All it takes to sign up is an email, and deposits are limited to bitcoin - sorry US traders, they IP check to exclude US residents. Please find below the leverages and fees, which are some of the lowest in the market. Note that a negative fee represents a trade rebate.
There are a number of additional cryptos as well, often launched in the interim between the end of the ICO period and the start of retail trading. This not only allows traders to get into action they might have missed, but it helps to set a meaningful price benchmark. The support is superior and the community, active in the troll box, seems more intelligent, well-spelled, less-caplocked than most.
WhaleClub - Trade Crypto, Forex and Commodities at High Leverage
WhaleClub offers highly leveraged derivatives trading with Dash and Bitcoin. Traders can begin utilizing the platform with only an email, and there are no geographical restrictions - WhaleClub is truly a global trading community.
In addition to the above cryptos, Whalclub offers trading, all collateralized in bitcoin or dash, in forex, commodities, indices, bonds and individual stocks. For US-based traders holding bitcoin, this is an excellent option, although financing rates are higher than average. WhaleClub is now offer a 30% losing trade rebate on the amount up to first deposit.
CryptoFacilities - Bitcoin and Ripple Futures Trading
Crypto Facitilities offers the most complete futures trading platform in the market. There are multiple maturities for four different instruments - a bitcoin usd futures, a bitcoin usd turbo offering a 50:1 leverage, a ripple usd futures, and a ripple bitcoin futures. Trades are collateralized in bitcoin or ripple, the only deposit methods available. The platform is regulated by the FCA, so there is a KYC requirement - however, after you are registered you benefit from insurance on your deposits. And did we mention they offer the lowest spreads in the market, and zero funding premiums or swaps? Pure value.
Plus500 - Best Bitcoin Trading Platform
Plus500 Ltd is listed on the AIM section of the London Stock Exchange, and Plus500 UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909), two fun facts which should help establish credibility. The trading platform may be downloaded, accessed via web, or directly from your phone on the Plus500 iOS or Android app.
Plus500 offers Ethereum, Litecoin, Ripple and Bitcoin Trading. Short or long contracts are available in your your local currency at leverages up to 30:1. The spreads are extremely competitive, with quotes are pulled directly from btc-e for all currencies with a nominal percentage added as the Plus500 fee. Please remember that CFD trading of cryptocurrencies, being both highly volatile and highly leveraged, puts your capital at risk of loss.
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Simplefx - Best Litecoin Trading Platform
Most of the brokerages listed on this page are forex companies that have integrated bitcoin and crypto trading pairs as interest has swelled; SimpleFX is a straight-up crypto trading product. It allows for litecoin and bitcoin depositing, which has the added benefit of minimal KYC verification. You get the banks out of the process and things simplify. Crypto is the primary product offered, with ethereum, bitcoin and litecoin trading against a number of fiat currencies.
|Fees (USD Markets)||$6.55||$2.42||$0.29|
Market rate is determined by Poloniex when trading Ether or Litecoin, while Bitfinex sets the rate on bitcoin trading. SimpleFX has low fees, and average-y swap rates. They also require more margin than most - however, they adjust leverages accordingly, and in the end the highest leverage available is 10:1. (Check out the review for a more in depth explanation).
AVATrade- Best Ethereum Trading Platform
AVATrade has been around since 2006 and recently added a number of digital currencies for trading on both the proprietary AvaTrader platform of through MetaTrader 4. Traders are able to short or go long on Litecoin, Bitcoin, Ripple, Dash and Ethereum trading, and the Metatrader platform offers ethereum and bitcoin matched against fiat as well.
The market rate is set by btc-e for bitcoin, and Poloniex for the rest of the cryptocurrency trades. New accounts are rewarded with bonuses up to $10,000, depending on the size of the deposit.
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XTB - Cryptocurrency Trading on 2016 Best Software
XTB is a publicly traded Forex and CFD brokerage based in London. Their proprietary xStation is highly acclaimed, though they offer customers access to metatrader 4 as well.
XTB offers Bitcoin, Ethereum, Litecoin and Ripple CFDs with the following margin requirements:
FXChoice - USA Traders can Trade the Bitcoin CFD
FXChoice is a mainstream Forex brokerage that has integrated bitcoin CFD trading and allows for bitcoin depositing. Some of the advantages of the latter are diminished due to standardized KYC requirements across all deposit types.
FXChoice offers tight spreads of $6.33, and a standard leverage of 3:1on long and short positions. Even more importantly, this is the only brokerage that permits US traders access to it's crypto CFDs.
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1broker - Your Spot to Trade Mainstream CFDs using Bitcoin
A few of the other sites listed here allow bitcoin deposits; none are optimized for bitcoin from start to finish like 1broker. Registration is instant, deposit and withdrawals are instant, and traders are accepted the world over. However, 1broker no longer allows for crypto trade on their platform; instead, crypto-using crypto traders will be offered a new site called 1fox, meant to launch any second now. We will update this page when relevant.
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|Crypto Depositing Enabled?||No||No||No||Yes||Yes|
Swap Comparison table
|Bitcoin||0.25%||Long:.06%; Short:.04%||Long:.15%; Short.15%||No Swap charged||Long:.029%;Short:.022%|
|Ethereum||0.25%||Long:.06%; Short:.04%||Long:.19%; Short.17%||-||Long:.033%;Short:.026%|
|Litecoin||0.25%||Long:.06%; Short:.04%||Long:.33%; Short:.26%||-||Long:.033%;Short:.026%|
Swaps are charged on positions help overnight.
Why get into Cryptocurrency CFDs
Leveraged Trading and Short contracts
Standard bitcoin exchanges are, with a few exceptions, meant to be used strictly for the buying and selling of bitcoin. Very few offer leveraged trading opportunities, and most of those that do are based in East Asia and require Western clientele to buy bitcoin elsewhere and then transfer them onwards. And of course the same is required for cashing out the cryptocurrency. This can be cumbersome, and adds additional latency for short-term traders looking for quick liquidation into fiat.
Additionally, the brokerages listed offer short contracts, an important trade tool which is lacking in the mainstream bitcoin exchange market. Not only does this allow potential profit in a falling market, holders might find it an important hedging tool as well.
Cryptocurrencies - a Trading World Unto Itself
Cryptocurrencies as an asset generally do not trade in correlation with any other market. Certain fundamental events do impact price movement - for instance, bank bail outs/bail ins, inflation, government enforced currency controls, censorship events, etc. will generally push bitcoin in a bullish direction, but movement is usually independent from stocks, forex and the like.
Trading crypto is thus an excellent way of diversifying a portfolio, as spreading investment throughout non-correlated asset classes reduces overall risk by protecting against overexposure. Of course, getting involved in highly volatile, leveraged assets is quite risky in and of itself - we speak here entirely from the perspective of diversifying into a non-correlated asset. Most cryptocurrency traders will, however, be less interested in diversification and more interested in capitalizing on volatility to pull quick profits.
Bitcoin Price (USD): 853.48