Best Bitcoin Brokers for 2024

• How user-friendly is the platform?
• Can Bitcoin be bought directly or via CFDs?
• Are the fees & spreads as low as they can be?
• What are the leverage limits & margin requirements?
• How do deposits & withdrawals work?
• Where is the broker regulated?

Now that you had a look at our top 2 Bitcoin brokers, let us look at some of the factors you should pay attention to when choosing a crypto broker:

• User-friendliness of the platform

When evaluating a broker, look for a platform that makes sense to you at first use.

Are the search functions clear? Can I place trades easily? Do I have the charting & analysis tools I need? Can I easily monitor my portfolio, my P&L, and the fees I’m paying?

Asking these questions will help you decide whether a broker’s platform is right for you.

• Trading directly or via CFDs

There are several ways to trade Bitcoin, but they can be placed in 2 categories: direct and indirect. Direct trading means that you have a Bitcoin wallet, actually own Bitcoin and buy or sell your own.

Trading CFDs, on the other hand, does not involve actual Bitcoin changing hands, it is simply a directional bet on the price of Bitcoin. CFDs are more flexible because they do not go through the blockchain. You can thus easily buy & sell Bitcoin in any quantity, leverage your trades, and even short-sell. Before you start, make sure you understand the trading options your broker offers.

Learn more about investing in Bitcoin, shorting Bitcoin, and CFD trading with our dedicated guides!

• Commissions, fees & spreads

Once you like the Bitcoin broker’s platform and the instruments it offers, you need to look at the fee structure. Most CFD brokers do not charge commissions on each trade, but some may offer commission-based accounts.

The main way CFD brokers make money is through the spread: the difference between the price at which you can buy or sell. You want to compare the Bitcoin spread between brokers to determine who offers the lowest prices.

Last, you should consider the other fees you could be charged. The standard ones are withdrawal fees, overnight rollover fees for multi-day CFD trades, and currency conversion fees. Make sure you fully understand how much a trade cost you before opening a trading position!

• Leverage limits & margin requirements

To expand the value of your trade position (albeit at greater risk!), you may want to use leverage buy or short Bitcoin. When comparing Bitcoin brokers, you may want to look at the maximum leverage offered on Bitcoin trades.

Similarly, it’s important to know the margin requirements on leveraged trades. How much minimum equity do you need to have in your portfolio? Below which margin level will the broker automatically close your trade?

If you fancy leverage trading, make sure to review these points for each broker.

• Deposits & withdrawals

When trading Bitcoin directly, you want to be able to transfer Bitcoin seamlessly from your wallet to the Broker. Similarly, when trading CFDs, you would like to have as many deposit options as possible for maximum convenience.

You should consider the minimum withdrawal amount, the withdrawal fees, and the time required for the money to be transferred to your bank account.

• Regulation

You should always review whether and where the broker is licensed to operate. Regulated brokers face tougher constraints on marketing, leverage & instrument types, but they are also safer.

Unregulated Bitcoin brokers are not necessarily unsafe, but you should always cross-check their references to make sure they are sound before deciding to trade with them.