Best Crypto Trading Platforms 2020

Top 3 Crypto Trading Platforms 2020

Broker

Rating

Regulated

Min. Deposit

Founded

Max. Leverage

1.

ASIC, CySEC, IFSC

Min $5 Deposit

2009

1:880

Review Open Account Open Account

Terms & conditions apply

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.57% 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.

2.

ASIC, FCA, DFSA

Min $200 Deposit

2010

1:500

Review Open Account Open Account

Terms & conditions apply

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.6% 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.

3.

ASIC, BVI, CBI, FFAJ, FSA, FSCA

Min $100 Deposit

2006

1:400

Review Open Account Open Account

Terms & conditions apply

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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.

1. XM Group

XM Group is inlcuded in our best crypto platforms of 2020. They are one of the largest crypto trading brokers in the world with millions of clients in 196 countries. They offer traders around the globe access to trade some of the most popular cryptocurrencies (BTCUSD, BCHUSD, ETHUSD, LTCUSD, XRPUSD) with tight spreads and a no re-quote policy for superior execution speeds.

Online cryptocurrency trading with XM Group is available 24 hour a day, five days a week. They have a choice of user-friendly crypto trading platforms that are packed with tools to assist with market analysis. There are no hidden costs trading with them with transparency being the main driving factor of the services they provide.

Best Crypto Trading Platforms: XM Group Review

As well as offering the best cryptocurrencies platforms for trading online, they have over 1,000+ other trading instruments if you wish to trade other markets all from one trading account. XM Group are authorised and regulated by the Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). This strict regulation can give traders peace of mind that they are using a reputable crypto broker who have their best interests in mind.

You can read our full XM Group Review to find out more about why we consider them one of our best crypto trading platforms.

XM Group is a multi-award winning globally established and regulated trading broker with over 2.5m clients from 196 countries offering no-requotes, low spreads, fast execution and negative balance protection.

Terms & conditions apply

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.57% 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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2. Pepperstone

Pepperstone easily makes it into our list of the best crypto platforms for 2020. Pepperstone are a very large and popular online crypto broker that provides online trading services to traders across the globe. The crypto assets that they offer for trading include Bitcoin, Bitcoin Cash, Ethereum, Dash and Litecoin.

Pepperstone offer cryptocurrency derivative products across all of their crypto trading platforms, including the popular MetaTrader 4 (MT4) platform and the powerful cTrader platform. This allows users to access the crypto markets from anywhere in the world and whilst on the go. From the same crypto trading account, you can trade other markets including forex, CFDs, stocks, indices, commodities, etc.

Best Crypto Trading Platforms: Pepperstone Review

Based out of Australia, Pepperstone is authorised and regulated by the Financial Conduct Authority (FCA) and the Australian Securities and Investment Commission (ASIC). Regulation can give clients extra protection that they would not have using an unregulated brokerage.

Although Pepperstone are well known for their forex trading products, crypto traders can also take advantage of their ultra-low latency execution and deep liquidity pools. This gives a favourable crypto trading environment with access to institutional grade spreads and fast trade execution speeds. There are currently no commission fees charged for trading cryptos online with Pepperstone.

We are proud to include the established Pepperstone broker in our best crypto trading platform list. If you would like to find out more about this brokerage, you can read our detailed Pepperstone Review.

Pepperstone is one of the largest trading brokers providing traders worldwide access to trade across all markets with cutting edge technology, low cost spreads, low-latency high speed execution and award-winning customer service.

Terms & conditions apply

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.6% 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.

Open AccountOpen Account

3. AvaTrade

AvaTrade makes it into our best crypto platforms of 2020. They offer traders a good selection of cryptocurrencies to trade through some of the best crypto trading platforms, including the popular MetaTrader 4 (MT4) platform. These crypto platforms are flexible across multiple desktop, web and mobile devices so that you can trade cryptos on the go.

AvaTrade is based in the United Kingdom and an award-winning cryptocurrency trading broker. They offer the most popular cryptocurrencies including Bitcoin (BTC), Bitcoin Cash, Bitcoin Gold, Ethereum (ETH), Litecoin (LTC), Ripple (XRP) and EOS.

Best Crypto Trading Platforms: AvaTrade Review

The fees charged by AvaTrade are very completive with up to 1:2 leverage offered on cryptocurrencies. You can start trading cryptos online from a deposit of just $100 and have around the clock customer service in 14 languages. They are also regulated across 5 continents by 6 regulatory authorities.

AvaTrade rightly deserve to make it into our best crypto platforms list. You can read our full AvaTrade Review to find out more of the reasons why we consider them one of the top crypto trading platforms.

AvaTrade is an award-winning trading broker with regulation in 6 jurisdictions offering 250+ trading instruments across multiple markets and trading platforms.

Terms & conditions apply

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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.

Open AccountOpen Account

How did Trading Brokers choose our best crypto trading platforms?

Following on from our best crypto trading platforms of 2020, we will now look at what crypto trading platforms are used for and some of the most important factors to consider when looking for a reliable crypto trading platform.

What is an online crypto trading platform?

An online crypto trading platform allows traders to access different global markets for speculating on the price movements of various trading instruments. This can include Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, ETFs and CFDs.

Best Crypto Trading Platforms: Desktop, Web & Mobile Platforms

In the past, investors and traders would have had to go through an offline broker which meant that the markets were less accessible than they are today. As technology has improved over the years, there are now many online crypto brokerages to choose from. Anyone aspiring to be a successful trader can open a crypto trading account with an online broker and gain access to the brokers crypto trading platforms for online trading from anywhere in the world with an internet connection. Most brokers provide these platforms free of charge and for use on desktop and mobile devices.

Best Crypto Trading Platforms: MetaTrader

Through a crypto trading platform you can view real time bid/ask prices of various assets and load charts that show the historical and current prices of chosen assets over multiple timeframes ranging from tick to yearly charts. You can add technical indicators to these charts to help identify potential trending and ranging market conditions. These indicators can provide trading signals and are often used as part of an overall trading strategy that involves technical, fundamental, sentiment and price action analysis. When you find a suitable trading opportunity, you can execute, manage and close your buy or sell position directly through the crypto platform.

What makes a good online crypto trading platform?

Crypto trading platform regulation

When you choose an online crypto trading platform it is very important to ensure that the brokerage providing the platform is regulated by a respected government authority. The most respected regulatory authorities to look for include the Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) in the United Kingdom.

Investors have more protection when using a regulated crypto broker as they have to conduct business according to strict rules and regulations put in place to protect investors. If a broker claims to be regulated, you can verify this by checking the broker’s license number with the relevant authorities to ensure the regulation is legitimate and up to date.

Crypto trading platform instruments

Each crypto broker will offer a range of different markets and trading instruments to trade via their online trading platforms. If you wish to trade a particular asset class such as forex, stocks, cryptos, etc, you should check whether the broker offers that market through its crypto platforms. It may also be wise to consider if you plan to diversify your investment portfolio in the future. If so, the more trading products and markets offered by the broker, the easier it could be to expand your portfolio when the time is right.

If you would like to trade particular cryptocurrencies then you should check that the broker has these amongst its selection of crypto trading instruments. Some brokers will only popular cryptocurrencies such as Bitcoin (BTC) whereas others will offer more including Ethereum (ETH), XRP (XRP), Bitcoin Cash (BCH), Tether (USDT), Litecoin (LTC) and EOS (EOS).

Crypto trading platform tools

All crypto trading platforms come with a range of free built in trading tools to assist with your online crypto trading, helping to improve overall efficiency and performance. These can include technical indicators for analysing charts such as a moving average, MACD, Bollinger Bands, RSI, CCI and many more. Some platforms offer fundamental analysis tools such as built in economic calendars to efficiently keep track of the latest market news releases. They may also have trading calculators to help with planning your trades. The more advanced platforms will have depth of market (DOM) with level 2 pricing and sentiment tools that show how many traders are buying/selling a particular instrument.

If you require a specific set of trading tools or would like access to as many as possible, you should check what crypto trading platforms the broker offers along with the trading tools included. Some trading tools are stand alone and thus will not be incorporated into the crypto platforms but can still be very useful.

Crypto trading platform fees

Most crypto brokers will provide traders with free online crypto trading platforms although there are some who charge monthly and volume-based fees, usually for specialised trading platforms that have specific features a professional investor may need. That being said, the free crypto platforms will most likely be sufficient enough for the average retail trader.

Crypto trading platform commissions

In addition to potential fees for gaining access to the brokers crypto trading platforms, you should consider other online trading costs. Most online brokerages will charge a commission for placing trades in addition to the spread and overnight swap fee. These costs can vary significantly from broker to broker so it is important to consider the overall costs you will incur and the affect that will have on your money management.

Crypto trading platform spreads

The spread is the difference between the buy and sell (bid/ask) price which can vary depending on the volume of liquidity and quality of liquidity providers that an online crypto broker has. Some crypto brokers offer fixed and variable spread accounts, some will offer commission free accounts but instead mark up the spread to make up for this. In general, the more liquidity that the broker has, the tighter the spreads can be. It is important to account for the spread when planning your trading strategy, especially if you are planning on using scalping strategy.

Crypto trading platform swaps

If you hold a position with your crypto broker overnight then you will probably need to pay a swap fee. This is an interest fee for the procedure of moving open positions from one day to another, also known as the rollover. This is another cost to factor in to your money management planning. Some brokers offer swap free Islamic trading accounts that conform with Sharia law which allows Muslims to engage in online trading through their crypto platforms.

Other crypto trading platform fees

Along with crypto trading platform, spread, commission and swap fees, most online brokers will charge additional fees that should be checked and clearly understood. Other fees that are worth considering include withdrawal and inactivity fees.

Crypto trading platform usability

If you are already familiar with a specific crypto trading platform then it could be a good idea to choose an online crypto broker that offers that platform. However, if you have yet to use a trading platform then it may be a good idea to start with a broker that offers a user-friendly crypto trading platform which has plenty of tutorials available to help you learn how to trade online. MetaTrader 4 (MT4) platform is often considered as one of the most intuitive and easy to use trading platforms which makes it a popular choice amongst new traders.

Crypto trading platform leverage

Nearly all crypto brokers offer leveraged trading via their crypto platforms. Leverage basically means that you can open a position larger than you could without it. If for example you had leverage of 1:50 and a trading account balance of $1,000, you could effectively open a position size of $50,000 (1,000 x 50 = 50,000). Although leverage can increase profit potential, it also increases trading risk and thus, can lead to large losses. It is imperative that you have a thorough understanding of leverage and the significant risks involved before you start trading online. Check the broker offers a leverage that you require via your preferred crypto platform.

Crypto trading platform education

Some brokers also provide traders with educational resources such as videos and trading guides to help them improve their trading knowledge and skills. They may include detailed tutorials on how to use trading platforms which could be helpful for those who are new to online trading and need help to familiarise themselves with the different crypto platforms available to them.

Crypto trading platform minimum requirements

You will need to make sure that the crypto trading platform will run on your computer, VPS or mobile device by checking the specification requirements. Each crypto broker trading platform will have a minimum deposit requirement which is worth considering.

Trading platform funding

Each crypto broker will offer different options for making deposits and withdrawals to and from the trading platform. Most brokers accept bank wire transfers and credit/debit cards but some traders prefer online payment processors such as Skrill, PayPal, Neteller, etc. Ensure that the crypto platform supports your preferred crypto account funding method.

Crypto trading platform customer service

If you have an issue with your crypto trading platform that you need help with, it is important that the broker has a prompt and efficient customer service team. Online chat is often the quickest way to speak with someone whilst other options include telephone and email. The more hours the crypto brokerage support team is available, the better. Some run 24/5 whilst others are available 24/7. You should also consider the brokers office locations as they may be in a different time zone to you which could affect the response time. Check that the broker has a method of contacting support that is most convenient for you and available in your language.

How to start trading cryptos online?

Now that you have had a brief overview of what crypto trading platforms are and what to look for, you may be considering opening a trading account with an online crypto broker to gain access to their crypto platforms. This can be a quick and easy process that requires completing an online registration form. Simply choose a crypto broker, follow the account opening process and you will be able to start trading cryptos online through one of their crypto trading platforms. You may refer to our guides on how to choose a crypto broker and how to open a crypto trading account if you would like to learn more.

Need help choosing from the best crypto trading platforms in 2020?