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Best Bitcoin Forex Brokers

BrokerNotes.co

Written by BrokerNotes.co

August 29, 2023

How to Find the Best Brokers for Trading Bitcoin For You

Bitcoin has gone from theory to accepted financial instrument very quickly, with many retailers, businesses, and payment processors now accepting bitcoin. However, while bitcoin and other cryptocurrencies can be very attractive to some, they also come with their own unique levels of risk and controversy. In this article, we will be providing an overview of what bitcoin is, how it works from generation to valuation, and why it has become a popular financial instrument for traders.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best Bitcoin Forex Brokers

Here are the best forex brokers for trading bitcoin.

  • eToro - 8.8/10 Overall
  • Swissquote - 8.7/10 Overall
  • Capital.com - 8.4/10 Overall
  • Interactive Brokers - 9.7/10 Overall
  • Eightcap - 7.6/10 Overall
  • Saxo Bank - 9.7/10 Overall
  • XTB - 9/10 Overall
  • TD Ameritrade - 9.5/10 Overall
  • ACY Securities - 7.4/10 Overall
eToro
8.8/10 Overall
Minimum Deposit$10-$10,000
Tier-1 Licenses3
Tradeable Symbols (Total)3479

Best known for its copy trading platform suite, eToro is a highly trusted broker offering a large selection of cryptocurrency products, CFDs, shares, forex pairs, and a wide range of powerful trading tools. It’s worth noting that eToro is not a discount broker (though it offers zero-dollar commissions for U.S. stocks).

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)No
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
Swissquote
8.7/10 Overall
Minimum Deposit$1000
Tier-1 Licenses5
Tradeable Symbols (Total)472

Swissquote delivers a balanced offering of easy-to-use proprietary trading platforms and popular third-party platforms like MetaTrader and TradingView. Swissquote also offers a staggering 3 million financial products. It’s worth noting that Swissquote's pricing is more expensive than what you'd find with low-cost forex brokers.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Capital.com
8.4/10 Overall
Minimum Deposit$20 info
Tier-1 Licenses3
Tradeable Symbols (Total)3119

Capital.com delivers an innovative trading platform, powerful market research, and an impressive range of educational content. Capital.com also offers a growing number of tradeable markets, and the broker's competitive pricing puts it in the same category as the best low-cost forex brokers.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Interactive Brokers
9.7/10 Overall
Minimum Deposit$0
Tier-1 Licenses9
Tradeable Symbols (Total)8500

Interactive Brokers is a highly trusted broker regulated across the globe that delivers access to over 100 markets, including forex and CFDs. Its Trader Workstation (TWS) platform offers a variety of advanced trading tools for experienced traders, and IBKR's web-based platform is great for beginner forex traders.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
Eightcap
7.6/10 Overall
Minimum Deposit$100
Tier-1 Licenses3
Tradeable Symbols (Total)736

Eightcap offers an impressive range of cryptocurrency CFDs (though these are not available to traders in the U.K.). Eightcap doesn't offer any proprietary trading platforms, but does provide the full MetaTrader platform suite as well as several plugins and third-party tools like TradingView and Capitalise.ai.

Apple iOS AppYes
Android AppNo
Proprietary PlatformNo
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Saxo Bank
9.7/10 Overall
Minimum Deposit€2,000
Tier-1 Licenses7
Tradeable Symbols (Total)70000

Saxo Bank is a highly trusted broker that operates multiple banks and is regulated across the globe. Saxo Bank delivers an incredible cross-platform experience alongside powerful research and a vast selection of more than 60,000 symbols across multiple asset classes. It’s worth noting that minimum deposits at Saxo are steep.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
XTB
9/10 Overall
Minimum Deposit$0
Tier-1 Licenses2
Tradeable Symbols (Total)6010

XTB is a highly trusted brand with a proprietary platform (xStation 5) that delivers a rich selection of trading tools. XTB also offers CFDs for a wide range of asset classes, including multiple cryptocurrencies. Beginners will appreciate XTB's excellent educational content and the hundreds of lessons that are available via its Trading Academy.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
TD Ameritrade
9.5/10 Overall
Minimum Deposit$0
Tier-1 Licenses5
Tradeable Symbols (Total)0

TD Ameritrade, part of financial conglomerate Charles Schwab, is a leader in platform technology and trusted by millions of investors globally with trillions in assets under its brands. Available exclusively to U.S. residents, TD Ameritrade's forex offering consists of just over 70 currency pairs, along with powerful research and trading tools.

Apple iOS AppYes
Android AppNo
Proprietary PlatformYes
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
ACY Securities
7.4/10 Overall
Minimum Deposit$50
Tier-1 Licenses1
Tradeable Symbols (Total)1600

ACY Securities offers the full MetaTrader suite (including MetaTrader 5) as well as a decent range of CFD markets and a balanced account offering. That said, ACY's market research and educational content have room for improvement, and the spreads available within the broker's standard account are a bit higher than average. Read full review

Apple iOS AppYes
Android AppNo
Proprietary PlatformNo
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes

Trading Bitcoin with a Regulated Broker

While bitcoin itself is not yet regulated by the FCA (although there are reports it may be soon), it is possible to use a regulated broker when trading bitcoin. In the past, there have been a number of examples of the compromise and collapse of high-profile bitcoin websites, which has led to the loss of considerable amounts of bitcoins. This can mean that the trust and reliability of the broker are arguably more valuable when trading bitcoin than any other currency.

Popular Bitcoin Broker: AvaTrade

AvaTrade is a regulated broker that allows you to trade bitcoin with the popular MetaTrader 4 platform alongside healthy leverages of up to 1:400. Another benefit of trading with AvaTrade is that a minimum deposit of only $100 dollars is required to open an active trading account.

Advantages of trading with AvaTrade:

  • Automated trading
  • Free demo account
  • Guaranteed stop-loss orders
  • Real-time charts
  • News and market analyses
  • AvaTrade currently allows all members to deposit funds via Bitcoin and PayPal as well as standard options such as wire transfers and credit cards

BrokerNotes.co 2023 Overall Rankings

To recap, here are our top forex brokers for 2023, sorted by Overall ranking.

Company Overall Rating Minimum Deposit Average Spread EUR/USD - Standard Trust Score Tradeable Symbols (Total) Read Review Visit Site
eToro logoeToro 8.8 $10-$10,000 1 90 3479 eToro Review
Swissquote logoSwissquote 8.7 $1000 N/A 99 472 Swissquote Review
Capital.com logoCapital.com 8.4 $20 0.65 87 3119 Capital.com Review
Interactive Brokers logoInteractive Brokers 9.7 $0 0.6 99 8500 Interactive Brokers Review
Eightcap logoEightcap 7.6 $100 1.0 85 736 Eightcap Review
Saxo Bank logoSaxo Bank 9.7 €2,000 0.9 99 70000 Saxo Bank Review
XTB logoXTB 9 $0 1.07 96 6010 XTB Group Review
View More

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Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.

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