Best Crypto CFD Trading Platforms: All the facts you should know

Best Crypto Investment apps for beginners

A crypto CFD trading platform allows you to trade thousands of financial instruments – without the need to own any underlying assets. To do this, you’ll be looking to forecast stock, commodity, or forex price movements.

This article reviews the most popular CFD trading platforms available on the market in 2022. We consider key metrics such as market availability, commissions, platforms, payments, and regulation.

 

Scroll down to read about each leading CFD provider on this page!

EightCap: Best CFD Platform In 2022

Eightcap stands out for cryptocurrency trading among all other CFD brokers. In addition to over 250 cryptocurrency options, they also have impressive spreads, unparalleled among online brokers. 

More than 120 cryptocurrencies are available with the Eightcap US dollar pairs. Our currency selection includes rare coins such as Flow, Compound, Serum, Halo, Dodo, Shibu, Polkadot, Bitcoin, Ripple, Dash, Ethereum, and Litecoin.

Besides this, there are 20 cryptocurrencies to trade with Fiat currency. Examples include the Australian dollar (AUD), British pound (GBP), Euro (EUR), Canadian dollar (CAD), and Mexican peso (MXN). You can also cross-pair Bitcoin (BTC) with selected cryptocurrencies. 

Top Recommended Platforms

MIN. DEPOSIT

$50

EXCL. OFFER

USER RATING

9.8

4.9/5

78% of retail investor accounts lose money 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.

MIN. DEPOSIT

$100

EXCL. OFFER

USER RATING

9.7

4.8/5

Trading forex or CFDs on margin involves a high degree of risk and may not be suitable for all investors. There is a possibility that you may suffer a loss equal to or greater than your entire investment.

MIN. DEPOSIT

$250

EXCL. OFFER

USER RATING

9.6

4.5/5

CFDs are complex instruments and involve a high risk of losing money quickly because of the leverage effect. 68% of retail investor accounts lose money 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.

Lastly, you can also spread your risk by investing in cryptocurrency indices.

In cryptocurrency trading, leverage varies according to your location. Clients outside Australia may trade with leverage of up to 1:20. Retail traders at Eightcaps can take advantage of 1:2 leverage, and pro traders can take advantage of 1:5.

MetaTrader 5 is a recommended platform for trading cryptocurrencies since it can trade all currencies. Trading with MT4 is still possible, but you will only trade USD and BTC cross pairs.

With MT4 or MT5, Capitalise.ai automates your trading without the need to write code.

Pepperstone – Overall Top Cryptocurrency Trading Platform

We recommend Pepperstone as the best crypto trading platform. Using the broker, you can trade the five largest cryptocurrencies globally. Three cryptocurrency indices, leverage up to 5:1, narrow spreads starting at $10 on Bitcoin, and minimum trade sizes of 0.10 increments without paying commissions.

Regulators include FCA, ASIC, CySEC, BaFin, DFSA, CMA, and SCB. Trading platforms include MT4 and MT5, cTrader thought to be the best for cryptocurrencies trading.

Trading cryptocurrency with Pepperstone

Using three powerful platforms (MT4, MT5, and cTrader), Pepperstone clients can trade CFD products on Bitcoin, Bitcoin Cash, Dash, Ethereum, Litecoin, and Ethereum Cash.

Using the specialized trading software allows trading cryptocurrencies wherever you are. Crypto traders can trade the forex market and CFDs on commodities, shares, indices, metals, and energy through the Standard and Razor accounts.

Speculative crypto assets from Pepperstone do not require you to exchange cryptocurrency before using the market or a wallet to store digital money.

Cryptocurrency CFDs Pepperstone

During Pepperstone’s trading hours, clients can speculate on five cryptocurrency CFDs and three cryptocurrency indices. Crypto trading with fiat currencies is available on Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Dash, Litecoin (LTC), and three crypto indices:

  1. Crypto10 index – the most widely used cryptocurrency index because it tracks the top ten blockchain projects
  2. Crypto20 index – measures the performance of the 20 most popular crypto assets
  3. Crypto30 index – analyzes the performance of the 30 most popular crypto assets

Trading Cryptocurrencies: Fees and Costs

Its ECN execution model earned Pepperstone a spot on our best crypto CFD trading platforms list. Pepperstone is a no-dealing-desk broker that offers fast order processing and interbank spreads. Trading Bitcoin (BTC) requires a spread of $10.0, while trading Ethereum (ETH) requires a spread of $2.00.

The cost of trading with Pepperstone is $2.0 minimum spreads and $3.5 commissions (for Razor accounts only). In our review of CFD brokers, these are the lowest crypto fees by industry standards. In addition, Pepperstone offers competitive prices around the clock.

Additionally to the narrow spreads, Pepperstone’s ECN execution model offers super-fast order speeds of 30ms, making it ideal for trading cryptocurrencies.

Pepperstone CFD platform features

  • Pepperstone offers first-class CFD trading with cryptocurrencies. 
  • With Pepperstone, you will have access to top-rated software.
  • Ultra-low fees. 
  • Cutting-edge crypto products are available.
  • 30ms speeds.
  • Access to a free demo account to hone your trading skills. 
  • A key factor behind Pepperstone’s dominance is its trading volume, which amounts to over $9.2 billion per day. 

Markets.com 

We chose Markets.com for the quality of its crypto trading tools. Markets.com’s proprietary trading platform MarketsX offers crypto traders access to the following:

  • Six cryptocurrency CFDs
  • BTC futures Contract
  • Our proprietary CryptoBlend index
  • Provides up to 1:2 leverage
  • It comes with effective trading tools such as technical, fundamental, and sentiment.

The London Stock Exchange lists Markets.com as a company that complies with FCA regulations.

See also  Alibaba Suspends Sale of Cryptocurrency Mining Hardware on Its Platform – Bitcoin News

The CySEC supervises Markets.com in Europe (Safecap Investments Limited), and ASIC regulates the company in Australia. 

CFDs for Cryptocurrencies on Markets.com

The broker offers clients six crypto assets to trade on its MetaTrader 4 or MarketsX trading platforms without opening a crypto wallet. With Contracts for Difference (CFDs), clients can trade cryptos via derivative instruments, allowing them to speculate on price movements of a specific digital currency without actually owning it.

Traders at Markets.com can leverage up to 1:2 on these cryptocurrencies:

  • BTC Futures.
  • Dash.
  • Ethereum.
  • Ripple.
  • Bitcoin Cash. 
  • Litecoin.
  • Bitcoin Spot.

Markets.com also offers the CryptoBlend instrument for trading crypto assets with leverage of 1:2 and a spread of $5.20.

Trading Platform Tools on Markets.com

Markets.com, a trusted broker, gives you access to 14 powerful tools for trading cryptocurrencies, such as Bitcoin. Through the broker’s proprietary trading platform MarketsX, we found Markets.com offers the most effective tools for Crypto trading, CFDs, and forex trading.

Retail clients can access 14 fundamental, technical, and sentiment trading tools on MarketsX, which provides a deeper insight into the market.

Fundamental Tools

Its fundamental tool takes into account macroeconomic and microeconomic factors influencing the value of an asset, including:

  • ForexLive.com provides financial analysis of global developments and industry factors that can impact the Forex industry.
  • Users can receive alerts by email, text, or phone.
  • MarketsX provides Dow Jones News, a daily news feed covering the 20 most relevant global news events.
  • Thomson Reuters Stock Report is useful for clients who wish to trade stocks.

Technical Tools

Clients can use technical tools to determine a specific tradable asset’s past performance.

  • Clients can find out what assets are related to each other through related instruments. 
  • There are 88 technical indicators and nine chart types in the advanced chart tools. 

Sentiment Tools

These tools are short-term and represent the market’s sentiment towards a particular trading instrument. For example;

  • Clients can access 50,000 bloggers’ opinions with Blogger Opinions.
  • The hedge funds investment confidence – relies on SEC data, measuring how popular each asset has been over time.
  • It provides In-house Trading.
  • Provide suggestions from Trading Analysts
  • Trading Trends – This tool analyzes real-time market trends by analyzing trades made on the platform.
  • With Acuity News Alerts, you can see how news impacts an asset’s price.
  • Clients can observe an asset’s positive, negative, or neutral news coverage with the Acuity News Trading Sentiment tool.
  • Real-Time Signals – Gain insight into a given asset through a combination of several sources.

In summary, Markets.com offers many cryptocurrency trading tools to help you stay on top of the market. Crypto investors can also contact Markets.com’s dedicated customer support team via live chat or by phone with any questions they may have (including information about tools and trading platforms).

XTB – Bitcoin, Ethereum, and Fiat Crosses

The XTB xStation 5 is our top choice for trading Bitcoin and Ethereum. A global, regulated company with 15 years of experience and over 200,000 clients worldwide, XTB offers traders access to more than 1,500 markets, as well as 25 crypto pairs. It provides a maximum leverage of 2:1 and a Bitcoin spread of $68 on average.

Trading Bitcoin and Ethereum Crosses with XTB

Just as the forex market offers cross currency pairs, the cryptocurrency market has crypto crosses. Investors can use XTB to trade crypto cross pairs on:

  • A total of nine Bitcoin crosses
  • Three Ethereum crosses

XTB Standard accounts do not charge commissions on trades executed, but XTB Pro accounts charge $3.5 per lot. It offers crypto trading 24 hours a day, including on weekends, and does not expose you to capital loss through hacking. xStation 5 is an award-winning CFD platform for novices and professionals.

XTB’s retail investor accounts have a $250 minimum deposit requirement in addition to fast and smooth deposit and withdrawal methods. Anyone can access cryptocurrencies and trade cryptocurrencies since the entry barrier is low.

eToro – Leading cryptocurrency social trading platform

Our team hand-picked eToro as the best crypto copy trading platform. With over 10 million customers globally, eToro is a multi-regulated online CFD, Forex, and cryptocurrency broker. In addition to its unique copy trading features, eToro has one of the world’s largest social trading communities.

There are numerous regulatory bodies that eToro follows, including ASIC, allowing it to conduct business in Australia. Further, the broker holds CySEC and FCA licenses.

eToro has proven to be a reliable platform for retail traders of all levels. With eToro, you get a dedicated trading platform, cryptocurrency exchange, and blockchain wallet all in one.

eToro –  for trading crypto copies

Using the broker’s platform, you can instantly access the cryptocurrency market. Unless leveraged and traded as CFDs, long positions (buying cryptocurrency) will not incur overnight funding fees. Overnight funding fees apply for short positions and leveraged products.

Investors interested in trading cryptocurrency on eToro can leverage up to 1:2 if they wish to trade high-risk CFDs. Currently, only US Dollars are accepted as the basis account currency, with a $200 minimum deposit requirement. For deposits in other currencies, there will be a conversion fee.

With an eToro demo account, clients have the opportunity to test the platform’s features before signing up for a live account.

Crypto traders will have free access to eToro’s web-based platform. They can access the latest research and news concerning the cryptocurrency market and use the usual risk management tools to safeguard their active positions.

 

Cryptocurrencies available at eToro

The eToro platform offers 16 crypto assets combined into 94 crypto pairs. Bitcoin (BTC), Ethereum Classic (ETC), Ripple (XRP), Litecoin (LTC), and NEO are among the cryptocurrencies available for trading.

See also  Bank of Russia Recommends Banks to Block Cards, Wallets Used to Transact With Crypto Exchangers – Regulation Bitcoin News

The cryptocurrencies offered by eToro are divided into four groups:

  • 16 different crypto coins
  • One commodity cross
  • 14 crosses of crypto coins
  • 61 crosses of currencies

eToro’s award-winning copy trading feature is a convenient way to monitor the performances of top cryptocurrency traders. 

Also, with its copy trading feature, crypto traders can take advantage of their expertise if clients are uncertain which crypto assets to choose.

eToroX – The Advanced Crypto Exchange

The eToroX exchange allows professional traders and institutional investors to access the most advanced crypto trading experience.

eToroX uses eToro’s platform to offer competitive spreads and deep liquidity, with no transaction fees on cryptocurrency deposits. In addition, trading fees start at 0.03%.

The Gibraltar Financial Services Commission regulates eToroX and ensures its security. Access to 106 digital pairs is available, including cryptocurrency, several altcoins, Forex pairs, and stable coins tokenized.

In addition, eToro’s API Trading Program, AlgoX, provides crypto algo traders with low-latency, high-quality colocation services.

Bitcoin and Crypto Wallets on eToro

Also, eToro offers clients simple methods for receiving, transferring, and storing cryptocurrency anywhere on the blockchain through a secure digital wallet. Clients can convert over 500 crypto assets to other crypto pairs using this service, which supports over 120 cryptocurrencies.

You can download eToro’s Wallet for free and access it using your eToro credentials. Clients are protected from unauthorized access with the Wallet’s advanced security features. There are standardized protocols, DDoS protection, and multi-signature facilities among these security features.

Investors can also recover access to the Crypto Wallet using their eToro Wallet private key.

In conclusion, eToro’s one-stop crypto solution means cryptocurrency investors will have complete access to 94 crypto assets, enabling them to copy trade, manage, store, and speculate on their price movements all in one place.

IG – A suitable platform for crypto education for beginners

With one of the most comprehensive educational resources for crypto trading CFDs on the market, IG offers beginner-friendly tools for managing risk and learning the basics of CFDs. IG is a credible and regulated online Forex and CFD broker based in the United States. It is licensed in over ten areas, including the FCA, ASIC, NFA, and CFTC in the United Kingdom.

IG Cryptocurrency CFD Trading

With the IG CFD trading platform, a trader can speculate on only price movements without owning the digital currency. 

Also, it can leverage its position, pay a fraction of the total upfront cost, and gain exposure to several crypto exchanges with only one trading account.

IG offers Cryptocurrency Trading.

In addition to 10 individual cryptocurrencies (Bitcoin, Ethereum, Ripple, Litecoin, and EOS), crypto investors have access to IG’s Crypto 10 Index, which provides broader exposure to the market. Retail clients have a margin requirement of 10% on all cryptocurrency CFDs, while the minimum spreads offered is $36 for BTC/USD.

Based on IG’s tier system, margin requirements may be higher for larger positions.

Tools for managing risk in CFD trading

Traders with little experience or beginners should use strict money management and all the risk tools available to protect their positions in online trading through retail CFD accounts due to the potential for rapid losses due to leverage. The extremely volatile cryptocurrency market illustrates this point especially well.

The following are some of the risk management tools offered by IG:

  • Stop-loss orders – this free tool closes clients’ positions automatically if the market moves differently than expected. Nevertheless, it is not immune to slippage, so the position may end at a lower price level if a gap occurs.
  • A limit order is an order that automatically takes profit when a predetermined price level is reached.
  • A free price alert and push notification service – IG’s Web Trader and mobile apps offer price alerts by text or email. In contrast, the platform’s desktop PC trading platform and mobile apps use push notifications.
  • Guaranteed Stops – This tool is guaranteed to close clients’ positions at the specified price level. Also, there is a charge for additional spread.
  • With Trailing Stop, traders can lock in profits while placing a Stop Loss order that automatically updates when market conditions improve. There is no guarantee that the Stop Loss will protect against slippage when the market moves against the trader.

IG Academy

IG Academy provides all the information beginners need about global financial markets and trading. The website section provides IG clients with free online trading courses, trading webinars, and in-person seminars.

Also, beginners can learn about financial markets and trading terms by browsing IG’s extensive glossary.

With its first-class learning center and top risk management tools, IG is among the best brokers for crypto newcomers. IG’s crypto CFD trading also includes no maximum deposit limits for customers and no fees for deposits or withdrawals.

Plus500

The plus500 platform, a leading provider of CFDs, offers the best cryptocurrency exchanges with various digital coins. London-listed Plus500, founded in 2008 in Israel, excels in CFDs and Forex.

Plus500’s Cryptocurrency Trading Conditions

Based on our analysis, Plus500’s crypto trading platform offers one of the most competitive crypto trading environments. Plus500 offers 13 cryptocurrency CFDs and the Crypto Index, with leverage of 1:30 and a minimum deposit of USD 200.

Similar to CFD and Forex brokers such as Markets.com, Plus500’s hostile balance protection policy prohibits retail accounts from losing more than the initial deposit when trading CFDs.

With Plus500, you can trade cryptocurrencies for an average spread of:

  • $36 Bitcoin (BTC).
  • $0.0038 Ripple (XRP).
  •  $4.7 Bitcoin Cash ABC (BCH).
  • $0.0006 Tron (TRX).
  • $2.1  Ethereum (ETH).

Crypto 10 Index – Plus500

Plus500 provides cryptocurrency investors with an insight into the cryptocurrency market with a customized Crypto 10 Index. The Crypto 10 Index (Crypto10) tracks the performance of the world’s leading cryptocurrencies. In the same way that the S&P500 is the benchmark stock index, BITA, a third-party specialist and independent provider of the Crypto 10 index, is the benchmark cryptocurrency index.

See also  Buy Floki Inu - A Guide On How To Buy Floki Inu

Lastly, Plus500 enables crypto lovers to trade in an environment that mimics a crypto exchange and provides an extensive selection of digital coins. Plus500’s clients can choose from various CFD instruments, such as indices, stocks, ETFs, and more. 

IC Markets Is A Great Place To Trade Cryptocurrencies With MT5.

Trading CFDs on MetaTrader 5 is best done with IC Markets. An Australian online broker founded IC Markets in 2007 to provide CFDs on Cryptocurrencies and other assets in addition to Forex trading. IC Markets offers a variety of financial trading platforms to its clients, including MetaTrader 4, MetaTrader 5, and cTrader, and executes trades by an ECN.

One of the most recognizable regulatory bodies globally is the Australian Securities and Investments Commission. 

They offer trading services in key markets like Europe and Australia.

Trading Cryptocurrencies With An ECN CFD Broker

Due to its 25 top-tier liquidity provider’s pool, IC Markets offers honest ECN pricing, no dealing desk order execution, and no requotes on its MetaTrader 5 trading platform. The MT5 software from IC Markets allows clients to secure their holdings using limit orders and trade sizes that are completely flexible.

Using the broker’s MetaTrader 5 platform, crypto traders can trade ten digital currencies 24/7 with a leverage of 1:5. Spreads on Bitcoin are as low as $5.00, and on all IC Markets accounts are as high as $10.00.

With the MetaTrader 5 platform, IC Markets provides the best cryptocurrency trading conditions. Those looking for crypto investment opportunities will find that IC Markets offers more than enough options to meet their needs.

FP Markets – Top MT4 Broker for Cryptocurrency 

Since 2005, FP Markets has provided CFD and forex trading to Australian investors. Regulators of the organization include ASIC, St. Vincent and the Grenadines Financial Services Authority, and Cyprus Securities and Exchange Commission. FP Markets is considered safe based on its excellent track record and its-tier affiliation with ASIC.

FP Markets: Their Benefits and Drawbacks

  • Forex commissions at FP Markets are minimal.
  • It is easy to open an account and deposit money.
  • Demo accounts and e-books are available.
  • Fees for stocks CFDs are substantial, and the company offers only FX, CFDs (equities, indices, metals), and cryptocurrency products. 
  • Traders no longer have access to MetaTrader 4 on the web or desktop computers.
  •  Those looking for fixed spreads should consider AvaTrade.
  • AvaTrade, all with fixed spreads, offer 11 crypto CFDs.

Trading Cryptocurrencies With Avatrade

AvaTrade offers Australian clients CFDs on 11 digital currencies. Trade without commissions or bank fees 24 hours a day, seven days a week. The spread of bitcoin CFDs is another benefit, with a leverage of up to 1:25.

  • You can trade Bitcoin CFDs against three different fiat currencies (USD, EUR, and JPY):
  • The spread between Bitcoin and the US Dollar (BTC/USD) is 0.35 percent, with a leverage ratio of 1:25.
  •  0.5 percent spread on Bitcoin/Euro (BTC/EUR) with leverage of 1:20
  • 0.5 percent spread, 1:20 leverage for Bitcoin / Japanese Yen (BTC / JPY)

With AvaTrade, you can trade 13 crypto pairs and one crypto index at low prices over the weekend. In addition, bitcoin traders also have access to various speculative opportunities against fiat currencies.

Managing Cryptocurrency Risk with Admiral Markets

Admiral Markets provides excellent risk management tools for crypto CFD trading. As a globally regulated company, Admiral Markets has almost 20 years of experience providing trading services to retail clients (FCA, ASIC, and CySEC licenses). Thirty-two cryptocurrencies are available through this online trading platform, along with up to 10:1 leverage, a $10 Bitcoin spread on average, and risk management tools.

Risk management tools offered by Admiral Markets include:

The stop-loss order

The mini terminal is only available to Admiral Supreme Account holders.

Negative balance protection policy (NBP)

 Volatility Protection

Trading Bitcoin: Tools for managing risk

Admiral Markets offers clients the option of trading bitcoin CFDs with various risk management tools to protect their investment. Volatility protection is the most powerful tool for trading crypto risks, as it protects you from slippages, requotes, spreads widening, and market gaps. Cryptocurrency volatility is a distinctive feature of the market.

  • Admiral Markets’ Volatility Protection system offers several advantages.
  • Price discrepancies cause pending orders to be canceled.
  • Automatic conversion of limit orders to market orders
  • Partial order execution
  • The tool assures that your stop loss does not get triggered when spreads expand.

A final benefit available to Admiral Market’s clients is the ability to choose from the full range of MetaTrader platforms (MT4 and MT5) as well as comprehensive risk management packages (MetaTrader Supreme Edition). Despite Admiral Markets’ risk management features, it is not advisable to trade crypto because of the low leverage ratios and higher trading fees.

 Conclusion – Cryptocurrency Trading Platforms

In our comparison of the top crypto CFD brokerage trading platforms, Pepperstone takes the top spot. We considered other names for our list, but we did not include City Index and CMC Markets.

Pepperstone’s features are the lowest spreads on Bitcoin, fair pricing, access to five crypto pairs, three crypto indexes, outstanding customer support, and a streamlined online trading experience.

Using our star rating system, you can identify only regulated brokers that cater to many trading needs and offer various trading services. The information in our reviews is for general informational purposes only and does not imply investment advice.

More to explore

Related Articles

67% of retail investor accounts lose money when
trading CFDs with this provider.

eToro: Best Trading Platform - 0% Commission to Trade Stocks & ETFs

eToro: Best Trading Platform - 0% Commission to Trade Stocks & ETFs

67% of retail investor accounts lose money when
trading CFDs with this provider.