Knowing what sticks
Getting a bitcoin wallet, finding the first broker you lay your eyes upon and diving right into the middle of things is not difficult to achieve. It is actually a no-brainer. But doing it intelligently is the key here. And, with regards to bitcoin brokers, it matters a lot to know by which criteria to choose them.
And here are the most important ones to keep in mind:
– Regulations and certifications – There should be no such thing as not caring for regulations. An unregulated broker cannot offer you a legalized framework, which means you’ll have no way of knowing your capital is secure. Or your private data for that matter. Fortunately, unregulated brokers are a dying breed.
– User-friendly profile – Some brokers are meant for professionals only, while others are too beginner-friendly. You probably want something in between. But, regardless of what you want, the platform should be easy to use, with all the necessary information one-click away. Two clicks at most.
– Low rates and fees – It goes without saying that the best broker is the cheapest broker. Just make sure cheapness doesn’t come with hidden minuses on top of that. Any type of minuses, like few withdrawals options, high margin trading fees and so on.
– Optimized platform – You are interested in high responsiveness, low delay time, smooth interface and anything in between.
– High security – What matters is for the broker to ensure the safety of your capital, as well as the safety and the privacy of your personal data. Pay great attention to these aspects and always look for 2-3 steps authentication procedures, if nothing else.
Obviously, there are other aspects that count, probably not as much, but they do anyway. Like the broker’s popularity, the overall reviews and so on. They will, however, stack up to make for a more complete profile analysis. So, you might want to take into account as many aspects as you can.
With that being said, let’s have a look at some of the most popular and well-received Bitcoin brokers currently on the market.
Some of the best around
Now, I have to clarify what I mean by “the best”. This term refers to those that come with most of the qualities I have mentioned previously in the article. So, your definition of the best might vary from mine, if you tend to take other things into consideration as more important.
Having that out of the way, here are some of the best bitcoin brokers you can find.
Trade.com is a worldwide known broker, with a pretty solid user-base. It is regulated by CySEC and MiFID and it operates under the legal jurisdiction of Swiss Franc on top of that. So, you don’t have to worry about the trust level here.
The maximum leverage you will be getting in cryptocurrency CFD trading is 1:300 and the minimum amount you need to open the basic account is $100. Which is pretty affordable. And since we’re talking about accounts, Trade.com offers 3 options in this regard: classic, standard and premium. Each with their own requirements and benefits. So, flexibility and diversity are no issues either.
Trade.com’s policies are transparent and the fees fall into the range of the acceptable. All in all, a pretty worthy option in the end.
– Highly optimized platforms
– Affordable and moderate fees
– Multiple withdrawal options
– Multiple account choices
– Guaranteed Stop Loss and Limit Orders available
– Guaranteed Execution available
– No E-mail alerts
– No Islamic accounts
2. Admiral Markets
If you haven’t heard about Admiral Markets, you either didn’t spend enough time in the trading industry or you’ve been activating in the wrong business circles. Admiral Markets is one of the most reliable brokers around and for good reasons. It was born in 2001, which makes it one of the oldest on the market, and it has won several awards, including the Best MT4 Broker, as well as the Best Foreign Broker in Poland in 2015.
And these facts are no small things. Regarding the specifics, Admiral Markets comes with 3 different account types: Admiral.Markets, Admiral.Prime, Admiral.MT5. Obviously, each has its own plusses and minuses. It has a well optimized platform, a responsive Customer Support and it is more user-friendly than a lot of its competition.
– Guaranteed Limit Orders
– Several platforms available, including MetaTrader 4 and 5
– Spreads starting with 1 pips
– 3 different types of accounts
– E-mail and Direct Chat Support available
– Maximum leverage of 1:500
– It lacks E-mail alerts and Guaranteed Stop Losses
Another regulated broker, another high-quality, top-tier contender to the list of the best of the best. EasyMarkets has been founded in 2001, just like Admiral Markets and it is one of the oldest brokers on the market. It is regulated by CySEC, MiFID and ASIC and it has several offices spread in multiple locations around the globe.
With over $1 trillion in capitalization and over 100k active traders, it is no wonder that this broker has the popular vote to his side. You will get one standard account to play with, along with a VIP account, for those looking for a boost along the way. The deposits and withdrawals are fast and easy and the Customer Support is available 24/7, which is more than you can say about most of his competition.
– Guaranteed Stop Loss and Limit Orders on
– Guaranteed Execution and One-Click Execution on
– Friendly staff
– Fast deposits and withdrawals
– Regulated, reliable broker overall
– Plenty of educational material available
– The Customer Support only functions 24/7 for VIP members
– It lacks mobile trading
As you can see, these are just some samples of what you need to be looking for. You might as well as take these 3 as examples and work your way from there.
So, what’s the verdict?
The verdict is this. The bitcoin trading market is ruthless, I’ll give it that. But if you are decided to go all in, you might as well as do your homework in advance. Learn everything there is to learn about this business, keep your head up for both the dangers and the opportunities and you just might make it big someday.
And when you do, don’t forget – I got you there, punk!