4 Best Forex Brokers with Crypto Deposit for 2024

List of Top Forex Brokers with Crypto Deposit

How Did FX Empire Choose the Best Brokers with Crypto Deposits and Withdrawals?

• We checked regulations and the level of brokers’ safety to ensure maximum client protection when trading with high-risk assets like cryptos.
• We found and compared the available number of crypto deposit and withdrawal methods afforded by each broker.
• We evaluated the cost of crypto deposits and withdrawals.
• We tested the speed of order execution and fee competitiveness of each broker as crypto CFDs tend to be quite volatile.
• We evaluated the usability of the platforms incorporated by each broker including the number of in-built tools and whether the platform has a user-friendly layout.
• We evaluated each broker’s selection of tradable instruments from different asset classes including available cryptocurrency CFDs.
• We explored the scope and intricacy of brokers’ educational and research materials, as well as the practicality of any third-party tools they incorporate.
• We tested the reliability of each broker’s customer support and how useful it is in answering questions with varying complexity.

Our team of experts has identified brokers’ strengths and weaknesses using FX Empire’s comprehensive methodology. Here’s how we test.

Now let’s dive into the selected brokers.

How to Choose a Broker that Accepts Crypto Payments?

Now that we have covered our picks for the best brokers in each category, let’s discuss some key factors that traders should consider when selecting a broker.

How to choose a safe crypto deposit forex broker?

Cryptocurrencies are naturally prone to large price swings, and when used in leveraged derivatives, this instability often increases. Because of this, not all regions allow trading in cryptocurrency-based contracts for difference (CFDs). Therefore, traders should confirm if such trading is legal in their area.

And if they are, then traders need to look for two main safety mechanisms in a broker’s service:

• Regulation: A broker’s regulatory status is paramount. It’s always recommended to opt for a broker regulated by a reputable financial authority such as the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), or the U.S. Commodity Futures Trading Commission (CFTC). These organizations enforce strict standards to protect traders.
• Leverage: You need to determine the maximum leverage allowed by the broker’s entity you are working with. The combination of volatility and high leverage directly impacts a trader’s market exposure. Hence, retail traders’ maximum leverage on cryptos should not exceed 1:2.
• Transparency and Reputation: Reliable brokers provide information about their fees, pricing, and any applicable charges, as well as brokers often have positive reviews and ratings from users.
• Ease of Deposits and Withdrawals: A good broker should make the deposit and withdrawal process straightforward and fast. Check their deposit and withdrawal policy to ensure there are no hidden restrictions or fees.
• No Minimum Stop Loss Distance: Traders need to be allowed to exert as much control over their positions as possible, especially regarding risk management. That is why allowing is essential. It means traders can virtually place their stop-loss orders at a position’s entry price, thereby decreasing their potential loss to zero.
• Slippage: From my trading experience, most losses stem from traders taking large risks with significant gaps between opening prices and stop losses. Remember, it’s wiser to accept a small loss and continue trading, rather than risk everything in one position, hoping for a miracle.
• Insurance: Some brokers might offer insurance on digital assets. While not a standard offering, it can be a significant advantage in case of unexpected scenarios like a broker’s insolvency or cyber-attacks.

Read more about Best regulated forex brokers.

How to check if a broker’s fees are competitive?

A broker may have several account types, each with different pricing mechanisms. The question is, how to know which one is best fitted for your particular style of trading? I will try to answer this question by providing an example with two distinct accounts, one STP and the other ECN:

The biggest difference between STP and ECN accounts, apart from the execution model, is the pricing mechanism. Usually, STP accounts afford commission-free trading and floating spreads, whereas ECN accounts have fixed commissions and raw spreads (typically starting from 0.1 pips). At first glance, the former sounds more favorable because you only have to pay one cost – the spread – rather than two.

Read more about Best STP forex brokers and Best ECN forex brokers.

Many brokers recognize the psychological significance of this sort of thinking and seek to exploit it by raising the spreads on their STP accounts to the point where they are no longer the more competitive option. I will now demonstrate how to do a quick test for yourself to evaluate the competitiveness of a broker’s ECN and STP accounts.

Pick an instrument, say, the EURUSD. Suppose also that the spread on the pair is 0.9 pips on a broker’s STP account and 0.1 pips on its ECN account. There is also a $6 commission for trading a 1 lot (100,000 units) contract. If the EURUSD pip value is $10, you can do a simple calculation to determine the value of a hypothetical position on the EURUSD executed on both account types. The formula is the value of a trade = spread x pip value + commission. When we pop in the above values, this is what we discover about our hypothetical broker:

This is just a hypothetical example, but hopefully, it illustrates how more can be less in trading. So it’s worthwhile evaluating the costs of a broker you consider opening an account with for yourself before doing so. And if you are still uncertain, you can always check out our database of reviews to sort out the most competitive brokers.

Read more about Best lowest spread forex brokers.

Why does liquidity matter?

During the most action-packed moments of the day when trading activity reaches a peak, volatility on most crypto assets is also bolstered. And when price fluctuations are at their highest, order-filling becomes more difficult.

Suppose you place a long market order on BTC/USD to enter at the current spot price of 16800.00, but your order gets filled at 16805.00 instead. This discrepancy is called slippage, and it comes at your expense. In essence, slippage is the result of low liquidity.

Slippage is never pleasant regardless of the traded instrument, but heightened volatility can be especially detrimental when trading crypto CFDs. That is why I can recommend choosing a broker with access to a deep pool of liquidity providers. When brokers derive their liquidity from at least several top-tier banks and other financial institutions, they are more likely to fill trading orders swiftly and precisely, even under strenuous market conditions.

How to choose a trading platform?

Successfully trading cryptocurrencies requires a keen awareness of current market trends and developments. Here is a list of the types of tools you need to look for in a broker:

• Versatility. The platform is the window through which you study price action behavior. It has to accommodate quick and easy scaling up and down price of action so traders can easily differentiate between minor short-term fluctuations and broader long-term trends. An excellent example of such a platform is TradingView, which I consider to be one of the most sophisticated and feature-rich platforms in the industry. Knowing what other traders think is quite important, especially in the crypto market, which is remarkably susceptible to moving on rumors and traders’ expectations.
• Automated trading. Another defining feature of the digital currencies market is that it is, well, digital. Automated systems are pretty popular for trading crypto CFDs, meaning that it is algorithms that create and recognize most trading setups. This distinctly influences the market, so it’s worthwhile to consider using a similar strategy. One great tool for automating your trading, even if you lack the coding skills necessary, is capitalise.ai.
• Sophisticated research tools. Last but not least, you need to be aware of what’s going on in the market, what drives prices, and why. Most brokers provide some type of market breakdowns and analyses, but a couple of third-party tools stand out as reliable sources of information. Trading Central is a provider of well-thought-out trading ideas and a gauge of market sentiment, while Cryptocrusher caters specifically to the needs of crypto traders.

Check out our dedicated guide on Best forex trading platforms.

What to avoid when choosing a broker with crypto deposit?

Here are the five must-do things when selecting a broker:

• To check the broker’s regulations, protections, and level of transparency. 
• To consider broker’s fees, including spreads, commissions, and swap rates.
• To choose the account type that suits your needs and trading experience.
• To explore a list of offered instruments before starting trading. 
• To interact with the support team when opening an account with the broker.

How to avoid crypto trading scams?

To avoid forex and crypto scams, traders should first check the broker’s regulations. If the broker is regulated by top-tier regulators, you are mostly protected. An unregulated broker is the most suspicious one by definition. In addition to regulations, check the following red flags:

• The broker offers a big cash bonus for opening the account.
• The broker heavily promotes automatic trades and/or trading signals from unknown sources.
• The broker promises profits and cites unrealistic success rates.
• There is no information about the company and its employees.
• The broker stated address is not suitable for a serious company (too small, strange location).
• The support team does not respond or responds rarely.
• Clients report issues with funds withdrawals.

Our Methodology

Here at FX Empire, we have pioneered a unique and comprehensive methodology for evaluating the services of Over-the-counter (OTC) derivatives brokers worldwide. We aim to help retail traders make informed decisions when looking for a trustworthy partner.

Our team of dedicated professionals is working continuously to improve our system and keep it up-to-date with current market trends. We test each broker systematically by employing over 250 variables across nine categories:

• Trust
• Fees
• Account types
• Tradable instruments
• Platforms and tools
• Deposits and withdrawals
• Customer support
• Research
• Education

After completing hundreds of reviews in over a decade, we have refined a system that underscores all the pros and cons of a broker honestly and as objectively as possible. We review the licenses of all the subsidiaries of a broker and check the fine print in its Client Agreements. We strive to evaluate its transparency and the overall protections entitled to a client of the company.

For this guide, we scrutinized each broker’s regulatory adherence and safety measures for maximum client protection. We compared brokers’ offered crypto deposit and withdrawal methods, assessed the associated fees, and the estimated speed of order execution given the volatility of crypto CFDs. We also checked the usability of their platforms, including the number of built-in tools and user-friendly layout.

Moreover, we investigated each broker’s range of tradable instruments across different asset classes, including available cryptocurrency CFDs. We analyzed the scope and quality of their educational and research materials, along with the practicality of any third-party tools provided. Lastly, we assessed the reliability and usefulness of each broker’s customer support in answering questions of varying complexity.

We abide by our strict guidelines for editorial integrity based on the objective standards we have set for our reviews. You can read more about our review process here.

Meet Our Writers

The team of forex and CFD analysts and editors at FXEmpire is composed of trading industry professionals and seasoned financial journalists. Our experts have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.

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