There are a few vital aspects that traders need to consider when trading cryptos from a Forex broker platform. When it comes to short-term trading, crypto CFDs are often a better choice than actual cryptos as the latter generally take more time to sell. CFDs on the other hand can be traded lightning-fast and can even be shorted, making them perfect for speculation activities. Another thing that makes crypto CFDs a decent choice is the fact that you do not need to own the actual tokens, thus eliminating the need for crypto wallets and all the hassles that come with using them.
While leverage trading crypto CFDs, the leverage is generally quite low, but it is still important that the broker offers negative balance protection, as crypto can be highly volatile
Below are the best crypto CFD brokers that can be trusted.
A quick comparison table of top brokers offering cryptos
HYCM
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Visit broker 8 7.97 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 73-76 % 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. For more information please refer to HYCM’s Risk Disclosure. Additionally, the content of this website is for information purposes only and it is not intended as a recommendation or advice. Any indication of past performance or simulated past performance included in advertisements published by HYCM is not a reliable indicator of future results. The customer carries the sole responsibility for all the businesses or investments that are carried out at HYCM.
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FP Markets
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Visit broker 6.88 4.98 Trade Responsibly: Derivative products are highly leveraged, carry a high level of risk and are not suitable for all investors. Features of our products including fees and charges are outlined in the relevant legal documents available on our website. The legal documents should be considered before entering into transactions with us.
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XM
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Visit broker 8.4 8.34 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.03% of retail investor accounts lose money when trading CFDs with this provider. 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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AvaTrade
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Visit broker 8.8 7.63 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. 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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Pepperstone
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Visit broker 8.2 7.75 Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
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| Regulations | Seychelles, South Africa | Cayman Islands, Cyprus, UAE, UK | Australia, Cyprus, St. Vincent and the Grenadines | Australia, Belize, Cyprus, UAE, UK | Australia, BVI, Ireland, Israel, Japan, South Africa, UAE | Australia, Bahamas, Cyprus, Germany, Kenya, UAE, UK |
| Available crypto CFDs | Yes | Yes | Yes | Yes | Yes | Yes |
| Offers digital coins | No | No | No | No | No | No |
| Negative Balance Protection | Yes | Yes | Yes | Yes | Yes | Yes |
| Allows hedging | Yes | Yes | Yes | Yes | Yes | Yes |
| Allows EAs | Yes | Yes | Yes | Yes | Yes | Yes |
| Minimum deposit | 100 USD | 100 USD | 100 AUD | 5 USD | 100 USD | 0 USD |
| Leverage for cryptos | 1:5 | 1:20 | 1:50 | 1:250 | 1:20 | 1:10 |
| Minimum lot size | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Account currency | EUR, USD | USD, EUR, GBP, RUB, AED, CAD | AUD, USD, EUR, GBP, SGD, CAD, CHF, HKD, JPY, PLN | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | USD, GBP, EUR, ZAR | USD, GBP, EUR, ZAR |
| Accepts crypto deposits | Yes* | No | Yes** | No | No | No |
| Trading hours | 24/7 | 24/5 | 24/5 | 24/7 | 24/7 | 24/7 |
* depends on the country of trader, generally accepts Binance crypto transactions for both deposit and withdrawals
** Depending on the country of residence
XM offers the highest leverage of 1:250 for crypto trading. Since the crypto market is extremely volatile, the low leverage requirements are understandable. FP Markets and CM Trading both accept crypto deposits depending on the country of residence.
Mini-reviews
CM Trading
The broker was founded in 2012 and has since won several awards. CM Trading is regulated by the FSCA of South Africa and is also regulated in Seychelles. The broker offers multiple asset classes and crypto CFDs for trading. CM Trading mainly focuses on the African continent but is open to international traders as well. The broker offers traders 24/7 crypto trading and accepts cryptos as an option for account funding. The leverage for cryptos is rather moderate and capped at 1:5. This is because cryptos are very volatile and their prices tend to move extremely fast. There are no fees on deposits, and the minimum deposit is $100. We will discuss their spreads in more detail later in this review.
HYCM
This is probably one of the oldest Forex brokers in the world. HYCM was founded back in 1977 in the United Kingdom. They offer more than 400 instruments with a minimum deposit of $100. The leverage for crypto trading goes up to 1:20. The broker is regulated by five different regulatory bodies and offers negative balance protection, which is vital for crypto beginners. Spreads on cryptos are very competitive, and the broker offers 29 cryptos for trading. Crypto CFD trading is open on the HYCM platforms 24/7 and the broker allows Expert Advisors (EAs) for those looking to automate their trades. Hedging is also allowed.
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8
7.97
FP Markets
This 2005-established Forex broker offers more than 10,000 CFDs for trading. Despite this, the cryptos offered are moderate at just 11 tokens. FP Markets offers 24/5 crypto trading with a leverage of 1:50. The minimum deposit required by the broker is 100 AUD or the equivalent in any offered base currency including USD, EUR, GBP, SGD, CAD, CHF, HKD, JPY, and PLN. The broker is heavily regulated by several authorities including:
- Australia’s ASIC
- Cyprus’s SEC
- St. Vincent and the Grenadines’ SFC
As with all brokers on this list, FP Markets also offers crypto trading via CFDs. FP Markets allows crypto deposits, depending on the country, and is very flexible with no deposit fees and but comes with a $5 withdrawal fee.
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6.88
4.98
XM
XM is one of the most robust and reliable multi-asset brokers in the world right now. The broker is heavily regulated in Australia, Belize, Cyprus, the UAE, and the UK. XM was founded in 2009 and has more than 5 million clients from over 190 countries worldwide. The global presence of the broker can not be understated, as they are presented in almost all countries and offer competitive and reliable services.
Several of our review team members have been retail clients of XM for many years and there has been no single instant of dishonest behavior to be observed when dealing with this broker. With a minimum deposit of $5 and maximum leverage on cryptos of 1:250, XM offers the best leverage to amplify trading account buying power when trading crypto assets. Additionally, XM offers very competitive spreads for crypto pairs and has the highest number of cryptos from the discussed brokers.
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8.4
8.34
AvaTrade
AvaTrade offers more than 1,250 trading instruments to its clients and has been active since 2006. The broker is regulated in Australia, the British Virgin Islands, Ireland, Israel, Japan, South Africa, and the UAE.
The broker offers 19 cryptos. Spreads are a bit higher than with other brokers, starting from 20 pips for BTC/USD. The broker is trustworthy and offers multiple asset classes including Forex, crypto CFDs, stock CFDs, commodity CFDs, and indices CFDs.
The leverage when trading cryptos is 1:20 and the broker offers 24/7 crypto trading without interruption. AvaTrade offers the MT4 and MT5 platforms, allowing EAs and hedging.
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8.8
7.63
Pepperstone
Trusted by more than 300,000 traders worldwide, Pepperstone is quickly becoming one of the most popular brokers on the market. It was established in 2010 and managed to grow relatively quickly.
Licensed by 7 regulatory agencies, the broker offers 1,200 trading instruments, together with 23 cryptos. When comparing its spreads to other brokers on this list, Pepperstone is a bit expensive, with BTC/USD starting from 15 pips and ETH/USD from 40 pips.
Pepperstone offers 24/7 crypto trading with 1:10 leverage. There are no minimum deposit requirements.
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8.2
7.75
Lowest spread crypto Forex brokers
| CM Trading | HYCM | FP Markets | XM | AvaTrade | Pepperstone | |
|---|---|---|---|---|---|---|
| Spread on BTC/USD | From 3.5 pips | From 11 pips | From 9.9 pips | From 11.5 pips | From 20 pips | From 15 pips |
| Spreads on ETH/USD | From 30 pips | From 6.3 pips | From 4.55 pips | From 2.55 pips | From 40 pips | From 40 pips |
| Spreads on LTC/USD | From 300 pips | From 2.7 pips | From 3.1 pips | From 7.5 pips | From 48 pips | From 25 pips |
* To calculate the spreads in pips we assume that 1 lot equals $100,000 of crypto. In this case, Litecoin’s spread for CM Trading was $3 per Litecoin. Litecoin’s price is around $100. For 0.01 lots we would buy $1,000 Litecoin, and we would pay a spread of $30 which means 300 pips in Forex terms. All other crypto spreads are calculated with this approach. We hope this will make it easy for Forex traders to calculate how much spread they will have to pay if they trade cryptos.
As we can see from the spreads, the best broker to trade Bitcoin on is CM Trading as it offers the lowest spread on BTC/USD. For Ethereum trading, XM is very attractive with its 2.55 pips on ETH/USD. For Litecoin, HYCM offers the lowest spreads with 2.7 pips on LTC/USD. FP Markets also offers super low spreads on Litecoin starting from 3.1 pips. Depending on the traders' preferences, different brokers offer different spreads for the major three cryptos. FP Markets has the second-lowest spread on BTC/USD at 9.9 pips.
Best crypto and Multi-asset Forex brokers
| CM Trading | HYCM | FP Markets | XM | AvaTrade | Pepperstone | |
|---|---|---|---|---|---|---|
| Forex pairs | 50 | 71 | 63 | 57 | 64 | 62 |
| Shares CFDs | 95 | 153 | 10 000+ | 1261 | 629 | 1000+ |
| Cryptos | 23 | 29 | 11 | 31 | 19 | 23 |
| Commodities | 15 | 20 | 11 | 8 | 17 | 32 |
| Indices | 17 | 28 | 16 | 14 | 30 | 23 |
The highest number of cryptos are offered by XM with 31 instruments, and HYCM coming in a close second with 29 cryptos. HYCM’s spreads are very competitive, and it has the lowest spread on LTC/USD pairs, making them very attractive for traders.
All Crypto Forex broker reviews
There are more brokers that offer cryptos that are not presented in this review. All other reviews are available on our website and offer in-depth, transparent overviews. Our reviews all have a strong focus on the most vital aspects of trading and we do extensive research on the quality of trading services offered by each broker.
