We found 11 online brokers that are appropriate for Trading Bitcoin Forex Brokers.
How to trade Bitcoin Forex is a hot topic right now with Forex traders. Bitcoin is an unconventional virtual currency and is new in the financial world. In this article on Trading Bitcoin and Forex we will try to understand what Bitcoin is, what a cryptocurrency is and how one really trades Bitcoin Forex.
Bitcoin is the first digital currency in the world of cryptocurrencies and was launched about a decade ago. It is not circulated by any government or bank. It is not even a legal tender even though the currency has gained immense popularity over the years among investors.
Cryptocurrency is a virtual currency and Bitcoin is the first that was launched with such a concept. It is secured by cryptography and hence counterfeiting is not possible. Currently, there are many cryptocurrencies and some of the well-known ones are Litecoin, Ripple, Ethereum, Tether and Libra.
Forex is one of the largest financial markets in the world and it is open 24/7. It is most liquid, and Bitcoin has made it dynamic. In recent years many brokers have started accepting the cryptocurrency for trading real currencies.
Before thinking of trading Bitcoin Forex it is important to understand how Forex works. It is an exchange of currency pairs similar to tourists exchanging home currency with the local currency for spending money in another country. Traders who understand the market make money from the fluctuations of the value of a currency pair against each other.
If an American trader speculates on the British pound, it is USD/GBP currency trading. Suppose he deposits $100 with a broker when the value of $1 was equal to 0.5 pounds. So, the $100 was valued at £50. If the GBP/USD value changes to 0.45 and the trader closes the position to 50/0.45 = $111.11, he makes a profit of 11.11% over the $100 deposit.
Most of the Forex trading is decentralized and traded over the counter, but this does not mean the same as Bitcoin or other cryptocurrencies which are decentralized digital currencies. The two are different.
The Forex market is decentralized, but not the currencies being traded. The currencies are backed by central banks of the respective countries. The banks monitor and stabilize the value to keep the currencies stable.
With cryptocurrencies or Bitcoin no bank or government backs it. Hence, it is not monitored or stabilized by any bank.
Let us understand how to trade Bitcoin Forex. The first thing required is to open a Forex account with such a Forex broker who can accept Bitcoins. If the current value of one Bitcoin is $7,500 and you deposit two units, the initial deposit stands at $15,000. Next, if you are willing to open a position in GBP that has an exchange rate of 0.5 pounds against USD and if the rate of GBP/USD drops to 0.45, you can close the position and get $1,666.65, which is 11.11% profit. You can take the profit in your own currency, probably in USD and this means you have paid in Bitcoin and have reaped the profit in USD.
Now, what happens if the Bitcoin rate changes during the trading period. If one Bitcoin value jumps to $8,500, you can withdraw 1,961 Bitcoins ($16,666.65/$8,500).
Even though you made a profit from the fluctuation of GBP, as the Bitcoin rate changed, you sustained a loss of 0.039 Bitcoin, which is about -2%.
If the Bitcoin rate changed to $7,000, you would have made a profit from the fluctuation of both, the GBP and Bitcoin as well. The calculation is like $16,666.65/$7,000 = 2.381 Bitcoins. Hence, a profit of 19.1%.
We just discussed how to trade Bitcoin Forex. There are benefits but the risks are equally high. Make sure you make full use of all educational resources and understand all the risks before trading Forex with Bitcoin. All investments hold risk but you must as a trader learn how to limit your loss. If you are a new trader sign up for a demo account first.
We've collected thousands of datapoints and written a guide to help you find the best Trade Bitcoin Forex for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best Bitcoin Forex Brokers below. You can go straight to the broker list here.
There are a number of important factors to consider when picking an online Bitcoin Forex Brokers trading brokerage.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
We compare these features to make it easier for you to make a more informed choice.
Here are the top Bitcoin Forex Brokers.
Compare Bitcoin Forex Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are Bitcoin Forex Brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Bitcoin Forex Brokers that accept Bitcoin Forex Brokers clients
Broker |
eToro
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XTB
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AvaTrade
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Plus500
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EasyMarkets
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SpreadEx
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City Index
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Markets.com
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IG
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Admiral
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FXPro
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Rating | |||||||||||
Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) | Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), British Virgin Islands Financial Services Commission (BVI) | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Monetary Authority of Singapore (MAS) | Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of the Bahamas (SCB) |
Min Deposit | 200 | No minimum deposit | 250 | 100 | 100 | 1 | 25 | 250 | No minimum deposit | 200 | 100 |
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Used By | 17,000,000+ | 250,000+ | 200,000+ | 15,500+ | 142,500+ | 10,000+ | 14,000+ | 10,000+ | 239,000+ | 10,000+ | 10,000+ |
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Platforms | Web Trader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, Mac, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | Web Trader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, MT5, Web Trader, Tablet & Mobile apps | MT4, Mac, Web Trader, L2 Dealer, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, cTrader, Tablet & Mobile apps |
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Learn More |
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Up with cityindex |
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Up with marketscom |
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Up with ig |
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Up with admiralmarkets |
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Up with fxpro |
Risk Warning | 67% of retail investor accounts lose money when trading CFDs with this provider. | 79% 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. | 72% of retail investor accounts lose money when trading CFDs with this provider | 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. | Your capital is at risk | Losses can exceed deposits | 75% of retail investor accounts lose money when trading CFDs with this provider | 84% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. | Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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. | Losses can exceed deposits | Your capital is at risk |
Demo |
eToro Demo |
XTB Demo |
AvaTrade Demo |
Plus500 Demo |
easyMarkets Demo |
SpreadEx Demo |
City Index Demo |
Markets.com Demo |
IG Demo |
Admiral Markets Demo |
FxPro Demo |
Excluded Countries | IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN, | US, IN, PK, BD, NG , ID, BE | BE, BR, KP, NZ, TR, US, CA, SG | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE | US | US, TR | US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW | RU, BR, CH, ZA, SG, JP, US, CA, BE, IL, TR, NZ, MY, SY, TH, ID, IR, IQ, HK, PH, PR | US, BE, FR, IN, IL, PL, ZW | US, CA, JP, SG, MY, JM, IR, TR | US, IR, CA |
You can compare Bitcoin Forex Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Bitcoin Forex Brokers for 2021 article further below. You can see it now by clicking here
We have listed top Bitcoin Forex Brokers below.