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AuthorBy Jeffrey Cammack
Updated: May 29, 2021

Cryptocurrency trading is a popular addition to CFD trading due to bitcoin’s popularity and the potential to profit from the wild changes in cryptocurrency value. With a rise in interest in cryptocurrency trading, unregulated brokers have sprung up to take advantage of unprepared newcomers. Always trade with a well-regulated broker. 

To test these brokers, we registered for a live trading account, verified the broker’s regulation, and confirmed the trading platform could perform technical analysis, execute trades quickly and with a wide variety of cryptocurrency pairs. More dependable brokers will offer a margin account, providing at least 10:1 leverage on crypto pairs, with trading conditions that won’t exhaust your profits. Always use a demo account to familiarize yourself with CFD trading before risking your capital. These are the best cryptocurrency brokers in Malaysia for 2021, according to our testing and our research.

English

Best Cryptocurrency Brokers 2021

Last updated on 29 May 2021
Updated 29 May 2021
by Editorial Director Jeffrey Cammackby Jeffrey Cammack
Jeffrey Cammack
All Brokers Regulated
All Brokers Regulated
by Trusted Authoritiesby Trusted Authorities
Trusted
1
FXTM
Min. Deposit
USD 10
4.334.33
Crypto Pairs
3
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.33/ 5
AlertAccepts Malaysian Clients. Minimum spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Islamic account available. MT4 & MT5 platforms supported. Leverage offered can vary depending on country of residence, and your trading knowledge and experience. FXTM is regulated by CySEC, FCA, FSCA, and the FSC.
2
OctaFX
Min. Deposit
USD 50
4.024.02
Crypto Pairs
4
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.02/ 5
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.10 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. OctaFX is regulated by CySEC & SVG FSA.
3
Tickmill
Min. Deposit
USD 100
4.484.48
Crypto Pairs
3
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.48/ 5
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.00 pips with 4 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 platform support. Tickmill is regulated by CySEC, FCA, FSCA, and the FSA-Seychelles.
4
Capital.com
Min. Deposit
USD 20
4.644.64
Crypto Pairs
128
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.64/ 5
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.6 pips on trading account with lowest minimum deposit. Max leverage 30:1. Capital.com custom platform supported. Capital.com Group regulated by the FCA & CySEC. 71.2% of traders lose money with this provider.
5
AvaTrade
Min. Deposit
USD 100
4.484.48
Crypto Pairs
18
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.48/ 5
AlertAccepts Malaysian Clients. Spreads start at 0.90 pips on theEUR/USD on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.
6
BDSwiss
Min. Deposit
USD 100
4.324.32
Crypto Pairs
26
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.32/ 5
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. BDSwiss is regulated by CySEC, FSC, and the FSA-Seychelles.
7
IG Markets
Min. Deposit
USD 250
4.694.69
Crypto Pairs
8
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.69/ 5
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4, ProRealTime and L2 Dealer platforms supported. IG Markets Group is regulated by FCA, ASIC, and the FSCA.
8
IQ Option
Min. Deposit
USD 10
3.133.13
Crypto Pairs
12
Trading Desk Type
REGULATED BY
Overall Rating
1110.503.13/ 5
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. IQ Option platform supported. IQ Option is regulated by CySEC.
9
markets.com
Min. Deposit
USD 100
4.494.49
Crypto Pairs
6
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.49/ 5
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 300:1. Islamic account available. MT4 & MT5 platforms supported. MarketsX is regulated by the FCA, CySEC, ASIC, and the BVI FSC.

How to compare cryptocurrency brokers

Cryptocurrency trading is not available at all brokers, and this can be for several reasons. Regulatory conditions restrict some brokers – for instance, the FCA has barred all UK-based brokers from offering cryptocurrency CFD trading. For other brokers it is a business decision to not offer crypto trading, and for some it is due to platform limitations. When comparing cryptocurrency brokers, consider: 

Regulation: Regulation, especially with cryptocurrency trading, is very important. Numerous illicit offshore brokers specialise in cryptocurrency trading, so always verify your broker’s regulation before making a deposit.

Demo accounts: This free account type should always be a starting point for any trader starting to trade crypto. Cryptocurrency is extremely volatile, and price patterns are much harder to predict, as limited fundamental data is available and all trading is done by examining charts.

Leverage: Leverage is typically much lower, between 1:5 and 1:10, for cryptocurrency pairs. While using too much leverage in highly volatile markets can devastate a trading account, traders will still want to access some leverage. Check that the leverage amounts match your risk appetite.

Number of cryptocurrency pairs: Some cryptocurrency traders will be happy with a smaller number of pairs, which will limit them to Bitcoin, Litecoin, and other coins against the USD. Some brokers and cryptocurrency exchanges will offer a wider range of crypto CFDs which will introduce more variety to your trading. Trading the same few crypto pairs will limit your cryptocurrency trading opportunities, and you will need to find other asset classes, like Forex or commodities, to trade in parallel. 

Number of FX pairs: Most cryptocurrency traders will also want to trade currencies. Just as the number of crypto pairs is important, so too is the same with the FX pairs. The more currency pairs available, the more variety you can have in your trading.

Transaction fees: Brokers may introduce a fee for trading cryptocurrency in addition to the spread. Spreads on cryptocurrency can be a lot wider than on fiat currency pairs, which means that large changes in prices will need to happen for a trader to profit.


  • OctaFX - Cryptocurrency CFD Broker with the Best Bonuses
  • Capital.com - Largest Range of Cryptocurrency Pairs
  • AvaTrade - Best Mobile Experience for Cryptocurrency Trading
  • BDSwiss - Best Market Research Provider for Cryptocurrency Traders
  • IG Markets - Best Regulated Cryptocurrency Broker
  • IQ Option - Best Proprietary Platform for Cryptocurrency Trading
  • markets.com - Most Powerful Tools for Cryptocurrency Trading

OctaFX – Cryptocurrency CFD Broker with the Best Bonuses

OctaFX is a regulated ECN broker offering trading on multiple assets, including Forex, commodities, stocks, indices, and 5 of the most popular cryptocurrencies.  Full support is offered for the MT4, MT5, and cTrader platforms, and all accounts employ market execution. However, clients who choose to trade on cryptocurrencies may only do so through the MT4 and MT5 platforms.  Traders are afforded leverage of up to 10:1, the minimum deposit requirement on crypto trading is 100 USD, and trading is commission-free.

OctaFX also offers a wide range of bonuses and promotions for Malaysian clients.  A 50% deposit bonus is available, in addition to various demo contests, and prizes for traders with live accounts. 

Pros
  • Great platform choice
  • Fast and free withdrawals
  • Copy trading accounts
Cons
  • Limited education
  • Restrictive account types
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.10 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. OctaFX is regulated by CySEC & SVG FSA.

Capital.com – Largest Range of Cryptocurrency Pairs

Capital.com is a well-regulated market maker broker with excellent support for beginner traders.  Offering trading on over 2000 assets, including Forex, indices, commodities, and shares.  It also offers an impressive array of 201 cryptocurrency crosses, including, but not limited to, Bitcoin, Litecoin, Ripple, Bitcoin Cash, Ethereum, and DASH.  Traders have a choice of between three accounts on which to trade cryptocurrencies, with a minimum deposit requirement of 100 USD.  Cryptocurrency trading is commission-free, and traders are afforded leverage of up to 2:1. 

Capital.com provides an extensive and well-organised selection of educational and market analysis materials that cater to traders of all experience levels.  Warranting special mention is its proprietary Capital.comTV, which stages numerous high-quality videos covering a range of trading-related content and trading ideas related to current events.  It also offers numerous in-depth guides, and webinars are held weekly and run by professional technical analyst, David Jones who leads the in-house research team. 

Pros
  • Tight spreads
  • Low minimum deposit
  • Excellent education
Cons
  • Limited account options
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.6 pips on trading account with lowest minimum deposit. Max leverage 30:1. Capital.com custom platform supported. Capital.com Group regulated by the FCA & CySEC. 71.2% of traders lose money with this provider.

Avatrade – Best Mobile Experience for Cryptocurrency Trading

A well-regulated market maker, Avatrade provides a reliable, user-friendly trading environment on a range of platforms, including its innovative mobile app – AvaTradeGO.  AvatradeGO allows traders to view their trades at a glance, create watchlists, and view live prices and charts.  It also allows traders to trade on more than 250 instruments, including 8 cryptocurrencies on its mobile app. 

Avatrade supports cryptocurrency trading 24/7, which means that traders can operate on the weekend.  Furthermore, unlike many other brokers that restrict clients by only allowing crypto to crypto trading, Avatrade clients can trade cryptos against Fiat currencies (USD, EUR, and JPY).  Lastly, Avatrade offers some of the best trading conditions on cryptocurrencies, but leverage is limited to 20:1 because of the volatility of the market.

Pros
  • Good for beginners
  • Well regulated
  • Low minimum deposit
Cons
  • Dealing desk
  • Limited market analysis
AlertAccepts Malaysian Clients. Spreads start at 0.90 pips on theEUR/USD on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.

BDSwiss – Best Market Research Provider for Cryptocurrency Traders

A well-regulated market maker, BDSwiss offers trading on a broad range of tradable assets on three live accounts.  BDSwiss offers full support for the MT4, MT5, and its bespoke BDSwiss Webtrader application, featuring an extensive set of analysis tools and advanced charting. 

With 20 cryptocurrency pairs available for trading, including Bitcoin, Litecoin, Ripple, and Ethereum, no commissions are charged, and BDSwiss offers leverage of up to 5:1. 

The BDSwiss Trading academy and market analysis materials are some of the best in the industry.  Curated by a team of renowned market analysts and professional traders that provide 24/5 market news coverage, it is well-recognised by the global industry and its Research Team is often featured in world-leading publications.

Pros
  • Tight spreads
  • Good for beginners
  • Wide range of assets
Cons
  • Expensive withdrawals
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. BDSwiss is regulated by CySEC, FSC, and the FSA-Seychelles.

IG Markets – Best Regulated Cryptocurrency Broker

IG Markets is one of the best-regulated CFD brokers in the world.  With regulation from ten regulatory authorities, including the FCA, ASIC, and BaFin, it is also an FTSE 250 company on the London Stock Exchange.  With IG Markets, traders can speculate on 10 major cryptocurrencies and crosses, or get broad exposure with its Crypto 10 index. 

Cryptocurrency trading at IG Markets is commission-free, and fees are charged in the spread mark-up.  Retail clients are afforded leverage of up to 10:1 on most crypto pairs.  Furthermore, IG Markets sources its raw prices from multiple execution venues with the aim of reducing its transactional charges, resulting in comparatively tighter spreads.  Traders also have the choice between MT4 and IG Markets’ proprietary L2 Dealer platform. 

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Excellent education
  • Excellent market analysis
Cons
  • High minimum deposit
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4, ProRealTime and L2 Dealer platforms supported. IG Markets Group is regulated by FCA, ASIC, and the FSCA.

IQ Option – Best Proprietary Platform for Cryptocurrency Trading

IQ Option is a popular market maker offering trading on Forex, stocks, ETFs, commodities, indices, options, and cryptocurrencies.  IQ Option provides its clients with a unique, interactive and innovative trading experience on its proprietary platform.  The platform is user-friendly and features a wide selection of trading tools that are not typically found on other platforms, including Moving Averages, Bollinger Bands, MACD, and RSI.  IQ option also offers a fun social trading experience, including various contests, with leaderboards visible to all who use the platform.

With over 35 cryptocurrencies available for trading, traders can access leverage of up to 5:1 on certain instruments.  A minimum deposit requirement of 10 USD is required to open an account, and all cryptocurrency trading is commission-free. 

Pros
  • Low minimum deposit
  • Wide range of assets
Cons
  • Unpublished spreads
  • Expensive withdrawals
  • Limited education
  • Limited market analysis
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. IQ Option platform supported. IQ Option is regulated by CySEC.

Markets.com – Most Powerful Tools for Cryptocurrency Trading

A well-regulated market maker, Markets.com offers trading and investing on over 2,200 instruments on a broad range of trading platforms, including MT4, MT5, and its award-winning platform, Marketsx.  Markets.com offers one live commission-free account on which traders can choose between 25 cryptocurrencies and access leverage of up to 10:1. 

Marketsx is an advanced multi-asset platform packed full of features, including fundamental, technical, and sentiment analysis tools.  Traders can follow their crypto picks and turn knowledge into actionable trading opportunities with various sentiment tools.  The advanced charting package includes dozens of indicators and oscillators, including Forecasting, Long/Short position tracking, Elliott Wave, Fibonacci Retracement, and more.  Lastly, traders can stay on the pulse with custom alerts delivered to their phone, email, or on the platform.

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • High minimum deposit
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 300:1. Islamic account available. MT4 & MT5 platforms supported. MarketsX is regulated by the FCA, CySEC, ASIC, and the BVI FSC.

How Does Cryptocurrency Trading Work?

Cryptocurrency trading works in much the same way as classic Forex trading with three significant differences. Due to the extreme volatility of the cryptocurrency market:

  • Leverage is much lower (the maximum is often 1:10 or similar) and
  • Spreads are much wider (often in the range of 25-35 pips).

This is to protect brokers and traders from the wild swings often prevalent in the crypto market.

Finally:

  • The cryptocurrency market operates 24/7, as it does not rely on large financial institutions for liquidity.

Traders and brokers both know there is money to be made on cryptocurrencies, so brokers have adapted their trading platforms and customer support hours to provide a genuine crypto CFD trading experience.

What is a cryptocurrency?

A cryptocurrency is a digital currency with no asset or national backing. They can be used to make payments or make investments and are more commonly accepted all the time.

Cryptocurrencies are ‘mined’ using computers, once mined the new unit of currency is added to a blockchain – a public ledger of transactions. This is very different from traditional currencies, which are minted by a federal bank.

Cryptocurrencies have a theoretical limit on the number of coins that can be created. As long as there is a demand, this supply limit allows them to hold their value, and they can be viewed as an investment vehicle.

There are dozens of cryptocurrencies, but the most liquid and widespread are Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ripple, and EOS.

What is Blockchain?

Blockchain is a time-stamped digital record used to keep track of data. Much like a traditional notary, blockchain eliminates any possibility of backdating or altering digital data. With the introduction of digital tender, blockchain is used as a distributed ledger containing a register of transactions. Every block in a blockchain includes data, a unique hash (much like a fingerprint) and the hash of the previous block in the blockchain.

The data in a Bitcoin block stores details about transactions such as amount, sender and receiver. The hash identifies a block and its contents and is always unique.

Altering the information in a block will also alter the hash of the block, thus automatically making all the following blocks invalid as they no longer store a valid hash of the previous block.

Additionally, blockchain has a mechanism that slows down the creation of new blocks called “proof-of-work” to prevent tampering with data inside the blocks.

The ledger (transactions) are re-calculated every ten minutes by the machine with the greatest processing power. All the other computers on the network check and verify that the transactions entered are valid once the primary machine has completed the calculation.

If more than 50% of the computers agree on the outcome of the calculation, the new block of transactions gets included in the blockchain.

What is mining?

Mining is the process of adding new tender to the blockchain, in effect generating new tender. Mining uses high-powered computers, often powerful GPUs (graphic processing units), to find and verify the resulting coin, which is placed in a wallet associated with the computer.

What are Wallets?

A digital wallet allows a user to store coins and enables the movement of funds by the owner. An account is often referred to as an address or key, where the key is used to track the ownership of a cryptocurrency.

A wallet can also be a program or a physical device, some wallets are geared for a single digital currency or a few select digital currencies.

Trading Crypto CFDs

If your goal is to purchase these assets for an investment, you can buy them on digital currency exchanges, such as Coinbase. However, cryptocurrency pairs can be traded like any other Forex pair.

Like standard Forex CFDs, the value of a cryptocurrency CFD mirrors the currencies it follows. Each transaction is speculation on the value of the currency increasing or decreasing.

There are several benefits to trading these currencies:

  • You can use leverage
  • You can trade them at most Forex brokers
  • You don’t ever own the asset and only speculate on currency value changes

As mentioned previously, cryptocurrencies can experience extreme volatility. Bitcoin has seen a 250% increase in value against the USD over the last five months but has also experienced frequent crashes of over 20% in the same period. This is in stark contrast to the traditional fiat currencies where historical volatility is below 3%.

crypto-graph

These currencies have similar traits to traditional ones. If you plan on trading these assets over the short-term, you should look for rapid changes in sentiment, as this will help predict future price movement. If you plan on trading over the long-term, watch for new information to affect value significantly.

Like traditional Forex trading, you can use your trading platform to execute trades, perform analysis and follow the news. Most brokers that offer cryptocurrency CFDs offer CFDs on other assets, which provides for a seamless transition if you are already accustomed to trading this asset class.

What Cryptocurrencies Should You Trade?

  • Bitcoin – The oldest and most liquid of them all is Bitcoin (BTC). It was established in 2009 by an unknown person using the name Satoshi NakamotoNakamoto to be used as a payment mechanism. In trading, BTC is commonly paired with fiat currencies such as the USD and EUR.
  • Ethereum – This is an open-source platform that uses blockchain technology. The critical function is smart contract programming. Ethereum is very liquid and experiences the same volatility expected from this market. The system went live on July 30, 2015, with 72-million coins.
  • Litecoin – This coin was built using the same open-source software that was used to create Bitcoin but uses a different license to make it more flexible. Litecoin was initially referred to as an alternative coin or altcoin and was created in October 2011.
  • Ripple – Founded as a payment system and currency exchange network by Ripple Labs Inc. The system was established in 2012, and Ripple can be traded versus several fiat currencies as well as other coins.
  • EOS– EOS operates as a smart contract platform and decentralised operating system. The system is fast and can execute millions of transactions in seconds. You can trade EOS against other coins and fiat currencies.

All Brokers with Cryptocurrency Trading

These are all the brokers we have reviewed that provide cryptocurrency trading, ordered by the number of cryptocurrency pairs offered. 

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Overall Rating
Official Site
Min. Deposit
Crypto Pairs
No. of FX Pairs
Unlimited Demo Account
Copy Trading
Regulators
Compare
Official Site
4.64 /5
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USD 20
128
166
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Your capital is at risk
4.24 /5
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USD 25
32
50+
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Your capital is at risk
4.32 /5
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USD 100
26
50+
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Your capital is at risk
4.12 /5
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USD 10
19
56
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Your capital is at risk
3.58 /5
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USD 250
19
48
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4.48 /5
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USD 100
18
50+
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3.69 /5
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USD 200
16
52
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Your capital is at risk
4.18 /5
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USD 5
16
40
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Your capital is at risk
4.14 /5
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USD 5
16
49
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2.62 /5
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USD 25
15
37
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Your capital is at risk
4.69 /5
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USD 5
12
330
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Your capital is at risk
3.13 /5
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USD 10
12
57
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4.14 /5
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USD 1
11
80
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Your capital is at risk
3.32 /5
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USD 150
11
110
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Your capital is at risk
3.53 /5
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USD 10
11
33
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4.46 /5
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USD 200
10
64
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4.00 /5
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USD 5
9
60+
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Your capital is at risk
4.09 /5
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USD 100
9
70+
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4.69 /5
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USD 250
8
93
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Your capital is at risk
2.85 /5
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USD 5
8
38
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Your capital is at risk
3.49 /5
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USD 100
7
43
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Your capital is at risk
3.83 /5
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USD 1
7
65
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Your capital is at risk
4.34 /5
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USD 5
6
80+
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Your capital is at risk
4.49 /5
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USD 100
6
67
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Your capital is at risk
4.23 /5
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USD 50
5
65
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Your capital is at risk
3.52 /5
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USD 500
5
40
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Your capital is at risk
3.83 /5
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USD 50
5
50
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Your capital is at risk
4.07 /5
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GBP 100
5
50+
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Your capital is at risk
4.28 /5
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USD 100
5
60+
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Your capital is at risk
4.13 /5
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USD 50
5
40
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Your capital is at risk
4.24 /5
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USD 100
5
70+
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Your capital is at risk
4.13 /5
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USD 50
5
47
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Your capital is at risk
3.93 /5
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AUD 200
5
46
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Your capital is at risk
4.10 /5
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USD 200
5
50+
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Your capital is at risk
4.18 /5
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USD 100
5
38
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Your capital is at risk
3.74 /5
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USD 50
5
85
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Your capital is at risk
4.61 /5
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USD 5
5
80+
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Your capital is at risk
3.92 /5
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EUR 100
5
70
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Your capital is at risk
4.00 /5
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USD 1000
5
78
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Your capital is at risk
3.42 /5
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USD 5
4
61
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Your capital is at risk
3.24 /5
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USD 250
4
47
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Your capital is at risk
4.07 /5
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USD 100
4
40
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Your capital is at risk
4.18 /5
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USD 100
4
70
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Your capital is at risk
4.49 /5
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USD 5
4
51
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Your capital is at risk
3.49 /5
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USD 500
4
41
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Your capital is at risk
4.02 /5
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USD 50
4
28
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Your capital is at risk
3.42 /5
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USD 100
4
55
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Your capital is at risk
3.64 /5
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USD 500
4
63
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Your capital is at risk
3.04 /5
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USD 100
3
60
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Your capital is at risk
3.98 /5
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USD 25
3
103
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Your capital is at risk
4.33 /5
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USD 10
3
59
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Your capital is at risk
3.93 /5
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USD 50
3
45
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Your capital is at risk
4.48 /5
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USD 100
3
60+
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How are cryptocurrencies different from regular currencies?

Over the last decade the supply of money has grown exponentially; this has been the most significant growth in the supply of money in history. Central banks control our money system, and all currencies are government fiat currencies.

The issue with fiat currencies is that the more of money that is in a system, the more prices will rise. This increase in inflation will also cause the value of the currency to fall.

Both BTC and gold are similar in that there is a finite supply; this is in contrast to fiat currencies, where central banks can print more tender whenever they please. As such, there is a predictable rate at which Bitcoin is mined, like the predictable rate at which gold is added to the market.

How many Cryptocurrencies are there?

On July 3rd 2017, there were 34 – by June 5th 2019, there were 2216. The table below shows the top 10 cryptocurrencies by market capitalisation (as of September 6, 2019).

Top-10-Crytpocurrencies-pichi

Source: coinmarketcap.com


Why Trade Bitcoin & Digital Coins?

These assets are known for their high volatility, thus creating more trading opportunities. Forex volatility has fallen to near record lows in the past ten years, often to less than 1%, while Bitcoin has had extreme volatility readings of 30% with an average volatility reading of 10%.

More volatility means more trading opportunities and larger profits, but at the same time, it also increases the sizes of the losses. Because of this volatility, you will find that brokers offer much lower maximum leverage for these pairs.

Analysing these pairs is easier because you don’t have fundamental data like GDP, CPI Inflation, unemployment rate or the business cycle to consider. Digital currencies are not influenced by fundamental macro data which will make the price action much easier to be read.

What To Look for in a Broker?

Find a well-regulated broker that provides a robust trading platform, where you can perform technical analysis with ease, execute trades quickly, with a wide choice of currency pairs.

You want to be able to buy and sell both fiat currencies, such as the dollar, yen, pound, and euro as well as versus other coins and commodities. In addition to a downloadable or web-based platform, you should also look for a broker with a mobile app.

Your broker should offer a margin account, allowing at least 10:1 leverage on most pairs, an education section to help you trade this fast-moving market, with trading conditions that won’t eat up too much of your profits.

Finally, find a brokerage with a demo account which will let you test drive the platform, and work out any kinks before you risk your capital.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. 

Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)

Our Methodology

Our State of the Market Report and Broker Directory are the result of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal. 

In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.

All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers.

References

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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