Best Cryptocurrency Cross Forex Brokers of 2024

Written by BrokerNotes.co

March 14, 2024

Cryptocurrency Pairs

A cryptocurrency or crypto consists of digital or virtual money, generally in the form of coins or tokens. Cryptocurrency was initiated by Bitcoin, the first and most valuable cryptocurrency. However, due to Bitcoin's relatively higher price, there can be a larger volume of trading on an average day in less valuable cryptocurrencies such as Ethereum.

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.

At present, cryptocurrencies cannot normally be exchanged directly for physical goods. However, times are changing as companies such as Square Inc. announcing that its popular Cash App will allow Bitcoin to be bought and sold from a user's balance. Additionally, some online merchants like NewEgg will also accept Bitcoin as a payment method.

On a side note, a popular benefit of cryptocurrencies is that they are free from manipulation by governments and central banks. Arguably, due to the increased popularity and lack of regulatory oversight of these currencies, some countries, such as Russia, China, Bolivia, Ecuador, Columbia and Vietnam have placed restrictions on their use or trading by locals.

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 Forex Brokers for Trading Cryptocurrency Pairs

• Interactive Brokers - 9.9/10 Overall
• eToro - 8.8/10 Overall
• Swissquote - 8.8/10 Overall
• OANDA - 8.5/10 Overall
• MultiBank - 7.5/10 Overall