Bitcoin Forex Brokers : Best Cryptocurrency Forex Brokers for 2023

These days, forex traders can use bitcoins in two ways – trade BTC or open a deposit in BTC. Some of the leading forex brokers give their clients the option of opening a trading account in bitcoins. When you open such an account, you can either make a profit or loss in bitcoins whilst still trading currency pairs. Bitcoin trading is the next option a forex broker has. This option is a straightforward one. As is with other currency pairs, trading bitcoin is regarded as a part of the bitcoin/dollar currency pair.

When choosing a bitcoin forex broker, you need to check the record of the broker and the regulators that have provided them with a license. You’ll also need to find whether the shortlisted broker can provide you right kind of tools, features, and analytics to make your bitcoin trading easier and effective. Our team has done the research and has developed a list of bitcoin forex brokers that we believe can do the job for you.

Bitcoin or Cryptocurrency Forex Brokers 2023

1. XM

XM is an online forex broker that came into existence in 2009. Regulated by three financial authorities – IFSC in Belize, ASIC in Australia, and CySEC in Cyprus, this broker provides clients different trading account types to choose from. Also, to make it easier for traders to carry out their trading activities, XM has developed a variety of educational resources and features that can be made use of to improve trading chances and make profits. A minimum of $5 is required to open an account with XM.

Pros:

Easy and fast account opening

Low minimum deposit

A variety of trading instruments, including bitcoin

A variety of educational resources and features

User-friendly service

Price alerts

Cons:

The search function can be better

Inactivity fee

2. HotForex

HotForex is one of the best and reliable forex brokers out there on the market that provides clients the entire MetaTrader suite, including MT5 and MT4 trading platforms. Besides these powerful trading platforms, HotForex also has on offer Premium Trader Tools, an optional suite of trader tools that have been developed by FX Blue Labs. With this advanced and reliable trading suite, clients can connect for news; see order history, pivot points, Renko bars, set alarms for alerts, etc.

Pros:

Educational service is excellent

Low trading costs

Low minimum deposit

More than 100 trading assets available at low spreads

Free deposits and withdrawals

Good proprietary copy trading platform

Cons:

No social trading features

Account closure after 30 days of inactivity

3. Exness

Exness is a Cyprus-based forex broker that is fully regulated and having clients from different parts of the world. The broker has the distinction of winning several industry awards on account of providing reliable and stable brokerage services in a comfortable and safe trading environment. The services of Exness are designed to help both novice and experienced traders alike. Their intuitive trading platforms offer a lot of possibilities for users to trade with a wide range of CFDs and Futures in different markets.

Pros:

Availability of different types of trading accounts

A variety of deposit and withdrawal options

No charges for deposits and withdrawals

24/7 customer support

MT4, MT5, and WebTerminal trading platforms

Choice of trading in different instruments, including bitcoin and other cryptocurrencies

Cons:

Clients from the US and Canada are not accepted

ECN is not offered as a trading desk

4. OctaFX

The recipient of numerous awards for its top-of-the-line trading platforms and services, OctaFX has been providing a variety of forex trading options with low deposits. OctaFX came into existence in 2011 and is based in Cyprus where it is regulated by CySEC. Currently, it accepts clients from 185 countries. What sets apart OctaFX from other brokers are its excellent spreads and accessibility. Also, with the easy availability of trusted trading platforms – MT4, MT5, and cTrader, users are sure to get access to multiple trading features to improve their chances of making it big in the trading world.

Pros:

Availability of demo account

Competitive spreads

Low minimum deposit

Top trading platforms like MT4, MT5, and cTrader

Fast market execution

Award-winning copy trading platform

Cons:

A limited number of assets

Base currencies are limited to USD and EUR only

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