TOP 4 RELIABLE BITCOIN FOREX BROKERS IN 2020
This article will walk you through the best Bitcoin brokers worldwide. Bitcoin trading volume in China is very high. Most traders trade in a traditional way: buying Bitcoin, keeping them in computers or Bitcoin wallets, and not selling until its price climbing up to thousands and hundreds of thousands dollars – which is suitable for long-term investors. However, this method is not suitable for scalp traders. The reason is because long transaction time requires multiple steps, and Bitcoin prices fluctuates very quickly. A solution for this is trading forex brokers offering Bitcoin trading. This is Bitcoin CFD trading, not delivery/owning Bitcoin. It has more advantages than traditional Bitcoin trading:
- Trading speed is super-fast – execution in a few milliseconds.
- You can use leverage to lower your investment. While you need to pay a full price with traditional Bitcoin owning, you can pay only one-twentieth of Bitcoin price. Because this is CFD trading, you can make use a leverage of 1:20. Therefore, despite of trading CFD with the same amount of fund, you can earn 20 times more compared to traditional one.
- Make payment easily through various online payment gateway. In case you have traded forex before, you would find that it applies the same for Bitcoin trading. Just choose the currency pair: BTCUSD. You can pay via either visa card, E-wallet or any other electronic currency. For beginners, check out the best forex brokers for beginners.
- Safety. There are more and more new Bitcoin brokers, so there are more risks. 2017 saw the closure of 2 Bitcoin brokers. Hence, it’s safer to trade with 10-to-30-year-old forex brokers – as Bitcoin trading is just one of their services. Their primary services are usually forex and commodity trading. They will certainly pay you enough no matter what happens to Bitcoin because they would not let the small revenue from Bitcoin influence their decades of prestige.
- High liquidity. If you have already traded Bitcoin through forex brokers, you might notice their highest liquidity. Execution is super-fast in milliseconds. If Bitcoin price drops, you can sell immediately to cut loss. If the price increases, you can buy Bitcoin to take profit in a blink.
- Trade Bitcoin even when the price drops. This is an advantage of trading Bitcoin through forex brokers. Traditional trading only allows you take profit when the price goes up. CFD trading allows you to make profit even when the Bitcoin price goes down. These are the reasons why I love trading Bitcoin with forex brokers rather than owning traditional Bitcoin.
So which Bitcoin brokers are the best brokers?
Bitcoin Exness broker (CFD)
If you read my article best brokers for copy trading, you will know why choose Exness at the first option. Exness use launch Bitcoin trading on 24 September 2017, and it became the best Bitcoin trading platform in the world. I have traded for some month, and I am very impressed with the execution speed and liquidity. Especially, their Bitcoin spread is the lowest one in the market.
Exness Bitcoin spread is quite stable. They offer only $4.5 per lot (1 lot = 1 Bitcoin). Simply put, I will compare this service fee with the traditional trading fee. It is only one-tenth of the traditional trading, one-third of Hotforex, and a half of XM fee.
View more details here.
Bitcoin Hotforex broker (CFD)
Hotforex broker has also been open for Bitcoin trading since the last September. Spread from 15 pips. Spread at HotForex is the most stable. In addition, you don’t need to pay any extra fee when trading. You can top up your account easily via banking or directly at their office with zero fees.
View more details here.
Bitcoin XM broker (CFD)
The well-known XM has just offered Bitcoin trading since the last September. Some of their attractive conditions are low spread only from 12 pips, small order from 0.1 Bitcoin.
Open a new Bitcoin trading account at XM here.
Bitcoin FXTM broker (CFD)
FXTM is a reliable broker with high execution speed, low spread, and good support. Bitcoin spread at FXTM is only 15 - 20 pips per Bitcoin. FXTM spread fluctuates fast which is in a range of 15 - 20 pips.
Learn more about Bitcoin trading at FXTM here.