Crypto Trading 2022: Crypto Brokers you should know about before Investing
Rebecca Smith
Rebecca is TopBrokers Trade’s utmost dedicated, and skilled individual. 12 years in the marketing field. Focusing as a content and digital marketing administrator, in the Finance sector.
Introduction
The world of crypto trading is changing quite rapidly as more and more people are now investing in the industry. 16% of Americans claim they have tried their luck in the world of cryptocurrency. Most experts suggest that it is here to stay considering the overall crypto market has a value of over $1.03 trillion (for Bitcoin alone).
However, crypto trading is not as simple as one might imagine. One of the key things towards running a successful crypto trading business is the kind of broker you have. Most people undermine the role and importance of these brokers. However, they play an essential role. It is a major reason why more and more people are now stepping into the industry.
Crypto Brokers: What do they do?
People who deal with crypto derivatives do not own the cryptocurrency per se. It is because that requires speculating market trends and determining the value changes in the future. Crypto traders do not purchase the currency themselves. Instead they earn profits or losses on the performance of other cryptocurrencies.
Similarly, crypto traders can choose to quit dealing with a particular currency anytime they want without any legal issues. Simply put, the crypto brokers provide traders with the perfect situation and suggestions to invest or cash out of the market for maximum profits.
There are several crypto brokers out in the market and each of them have their specific pros and cons. While you can choose any of these providers to help you with your crypto trading ventures, your broker has a huge impact on your long-term investments and profits. Therefore, you should choose your crypto broker cautiously.
We understand that it’s difficult to choose from such a wide array of crypto brokers in the industry. Therefore, we have picked out some of the best ones for your guidance. Ensure reading all about these crypto traders, to get a clearer view of their services.
Best Crypto Brokers for Your Next Investment
The market is full of crypto brokers who claim to be the “best”. However, factors like their minimum deposit fee, customer service, and commissions can help people make a well-informed decision. Following are some of the best crypto brokers that you can choose from, for your next cryptocurrency venture.
Open an account and begin your Crypto Trading Journey with IQ Options Today!
Cysec regulates the IQ Options crypto brokerage service. They have a license in Europe and are a popular crypto broker option for investors, new and old. They originally handle their operations and regulations from Cyprus and are one of the fastest expanding services in the country.
They have over 26 million investors from 178 countries. This broker offers several Forex trading services to high end clients in several countries but also deal with smaller clients. IQ Options provides its world-class services for as low as $10. You can also get a demo account for free with a $0 withdrawal fee account. IQ Options also received the Best Mobile Trading Platform award recently.
PROS
- Safety measures and privacy
- Low deposit fee and easy account opening method
- Diverse currency
- Protection for investors, and much more.
CONS
- Unavailable in Canada, US, Japan, Australia
Our Final Rating For IQ Options
4.9
DaxRobot
Unlock the world of crypto trading with DaxRobot.
DaxRobot uses a team of robots to run your crypto trading tasks, which makes the process simpler and easier to handle for most owners. This helps traders meet their goals without emotional elements of fear and worry of losing money. You need to pay $250 as a deposit fee before dealing on the platform
PROS
- Automated operations
- Lesser Mistakes
- Easier access option
CONS
- High deposit fee
Earn more Profit with IQ Mining’s account and professional services.
IQ Mining deals with major cryptocurrencies like Bitcoin, Dash, and Monero, which fluctuate a lot. Taking the right mining approach can be a bit difficult and technical. IQ Mining provides a more practical approach towards this. Users need to guess a 64 digit number, which is the “hash”.
This number is either equal or less than the target hash and allows forex traders to earn profits. All you need to do is: (1) sign up, (2) trade, and (3) withdraw earnings.
PROS
- Easy access
- Versatility
- Lower currency costs
CONS
- Difficult dealing method.
Let eToro take your Crypto trading profits to the next level!
eToro is another popular service that started back in 2007 and now offers plenty of flexible options like copy trading. While copy trading isn’t the best way to conduct crypto trading, it is still an attraction for those who prefer it. It also operates from Cyprus with CySec and FCA regulations.
eToro is less popular than IQ options because of its higher minimum deposit fee of $200. The broker’s services are available in over 130 countries, including Australia and UK. However, only 41 states have access to this platform legally in the US. Their Copy Trader and Copy Portfolio services are quite notable and popular. However, the large deposit fee makes most traders skip this option regardless of these major benefits.
PROS
- Copytrader and Copy Portfolio features
- Trading in the USA, Australia, and The UK
- Multiple regulators such as CySec, FCA, and ASIC
CONS
- Higher minimum deposit fee with a withdrawal fee of $25.
Our Final Rating For eToro
4.8
Connect with Avatrade and unlock the true potential of the world of crypto trading.
Avatrade started in Ireland and began operating in 2006 and now has over 2, 00,000 forex traders. Platforms like MetaTrader 4 and MetaTrader 5 have helped Avatrade get serious exposure. The company grew from a small setup to one of the leading crypto broker services in the world.
Avatrade has a minimum deposit fee of $250, with no withdrawal fee, which is a huge plus for new traders. It also protects against negative balance. It has three regulatory bodies, namely, ASIC, FCSA, and FSA, and follows strict governance from The Bank of Ireland and Client Asset Regulations
PROS
- MetaTrader 4 and MetaTrader 5 platforms
- No withdrawal fees
- Provide demo accounts
CONS
- Inactivity fee like eToro.
Our Final Rating For AvaTrade
4.8
Videforex
Reach out to Videforex’s experts to grow your crypto trading profits today!
Videforex operates from Seychelles and initially started operating as late as 2016. They have forex as a tradable asset but are non-regulated. Their mobile forex trading is one of the best features.
This app allows traders to open in bigger positions and improve the chances of making higher profits i. Videforex has three tiers of user accounts, namely, bronze, silver, and gold, depending on the customer experience. This makes them an ideal option for beginners and expert traders alike. However, there’s a deposit amount of $250.
PROS
- 27/7 customer service
- Chat via live vide
- Offers leveraged trading
- variety of accounts
- withdraw cryptoCan withdraw with crypto
CONS
- High minimum fee
Our Final Rating For VideForex
4.7
Conclusion
There are several crypto brokers you can reach out to for your next investment move, but it is best to check the services of the brokers suggested in this piece. All these brokers have their potential pros and cons, and choosing the right one makes earning through crypto trading simpler, and more effective.
