BitCoin Forex Brokers allow their clients to deposit and withdraw of funds using digital the digital currency, BitCoin. They also provide the opportunity to trade the infamous cryptocurrency CFDs.

 What is BitCoin?

BitCoin is a digital currency that was introduced in 2009, and uses block-chain technology to facilitate faster transactions. It is considered to be the first decentralized currency. Only 21 million coins exist, and they are predicted to last until 2140. Cryptocurrencies are highly speculative assets. Therefore, their price is constantly fluctuating with huge spreads. To be able to trade BitCoin, technical analysis is required to specify when to buy and sell.

There are currently several online currency exchanges available where one can exchange all main currencies like dollars and Euros for BitCoin. However, it is a better option to trade assets like BitCoin through a reliable Forex broker that offers BitCoin and other cryptocurrencies trading. By trading instead of buying cryptocurrencies, the risk is minimized and your funds are more secured as most Forex brokers are compliant with the strict regulations around crypto trading.

 

BitCoin Forex Brokers List

 

Broker
Description
Trade Now
Octafx
OctaFX
Regulation: CySec
Min. Deposit: $/€/£ 5
Leverage: 1:500
Spreads: Low as 0.4 pips

Review


FP Markets
FP Markets

Regulation: ASIC, CySEC
Min. Deposit: $/€/£ 100
Leverage: 1:500
Spreads: Ultra Tight from 0.0 pips

Review


NSBroker
NSBroker
Regulation: MSFA, BaFin, FCA,
Min. Deposit: $250
Leverage: 1:100
Spreads: Low as 1.2 pips

Review
XM
XM
Regulation: CySEC,FCA,ASIC
Min. Deposit: $/€/£ 5
Leverage: 1:500
Spreads: Low as 0.1 pips

Review
Avatrade
Avatrade
Regulation: ASIC,JFSA,FSCA
Min. Deposit: $/€/£ 250
Leverage: 1:400
Spreads: Floating from 1 pip

Review


IC Markets
IC Markets
Regulation: ASIC
Min. Deposit: $/€/£ 200
Leverage: 1:500
Spreads: Low as 0.0 pips

Review


Etoro
Etoro
Regulation: CySEC,FCA,ASIC
Min. Deposit: $/€/£ 200
Leverage: 1:30
Spreads: Variable

Review

XTB
XTB
Regulation: FCA
Min. Deposit: $/€/£ 250
Leverage: 1:30
Spreads: Low as 0.1 pips

Review


IQOption
IQOption


Regulation: CySec
Min. Deposit: $/€/£ 10
Leverage: 1:1000
Spreads: Floating from 1 pip

Review


OlympTrade
OlympTrade
Regulation: IFC
Min. Deposit: $/€/£ 10
Leverage: 1:500
Spreads: Low as 0.0 pips

Review
Globex360
GlobeX360
Regulation: FSCA
Min. Deposit: No min Deposit
Leverage: 1:500
Spreads: Low as 1.6 pips

Review

 

How to Make Money Trading BitCoin

There are several ways to make money by trading BitCoin, and other cryptocurrencies. The most known way is by trading this virtual currency against the US dollar (BTC/USD). The first thing to do is to find a BitCoin Forex broker and invest in the digital currency in the same way you would a physical currency. Since BitCoin is an extremely volatile and highly speculative asset, you should be able to identify the dips with a bit of BitCoin research.

BitCoin research can be done through both the fundamental and technical analysis of the financial markets. On a technical level, BitCoin technical trends tend to stretch about a year at a time so it shouldn’t be that hard to identify and execute a trade accordingly. On a fundamental level, traders must look at the number of BitCoin traders, the number of wallets currently used and the volume of BitCoin trades, to determine the outcome of a trade.

No matter what strategy you decide to use to trade BitCoin, it is important to make sure that you have chosen the best BitCoin Forex broker to invest your money with. Don’t forget to compare the spreads of different BitCoin Forex brokers to make sure you won’t pay high fees. It is also important to check the execution time to make sure you can guarantee the price you want at the right time. You may also want to consider the leverage available for BitCoin trading so that you can increase your risk/reward ratio and your chances for profit. Finally, most of all we recommend that you choose a regulated BitCoin broker so that your money will be secured at all times.

 Pros of Trading With BitCoin FX Brokers

There are various advantages that benefit BitCoin and the traders who invest in it. The first benefit is that there is a spacious freedom to pay; digital currencies make it possible to send and receive funds from anywhere across the world. There are no restrictions for transferring money, not borders or even public holidays. Another form of freedom is that BitCoin has no central authority, so that is why the trader is in charge of their own money.

The second advantage for BitCoin is that there is a transparency when it comes to the exchange of information. With its block-chain technology and all of their transactions accessible for the public to keep track of, transparency is essential. This gives traders a sense of security while they use BitCoin, since no one can manipulate the digital currency system. The third benefit is adjacent to the second advantage, which is control and security over funds. With BitCoin, the trader is responsible for all of their funds and the security that lies with their money in their active account. By being in charge of their funds, traders investing in BitCoin are able to control their own funds and transactions.

The fourth advantage is the most beneficial of BitCoin Forex brokers, which encourages more traders to invest in BitCoin; that would be that there are low fees and costs with investing in BitCoin. The fees depend on the transaction being exchanged, but mostly there are low fees or no fees at all. For business traders, they have the ability to trade BitCoin, selling and buying, at any place and at any time. This means that they have low risk of reaching a dead end with digital currencies, and they won’t face any limitations.

Along with the cheap costs that revolve around BitCoin, it is an ideal method to transfer funds, by buying and selling digital currencies.

Cons of BitCoin FX Brokers

There are two major disadvantages since BitCoin is also considered a trading instrument, which has its risks. The first disadvantage lies within the volatility and unpredictability of BitCoin, which discourages traders from investing in cryptocurrencies. The volatility is caused from the fact that there is a restricted amount of supply when it comes to BitCoin, yet there is a more increasing demand for the cryptocurrency. However, there are more and more businesses that have accepted BitCoin as a form of currency; this will affect the unpredictability of the cryptocurrency market.

As commercial businesses begin accepting BitCoin, it is expected that the price will decline and digital currencies will be more common.

The second disadvantage is the underdevelopment of the BitCoin, which also makes traders reconsider investing with BitCoin. Cryptocurrency, including BitCoin, is currently at its infancy stage and it would be helpful for traders that digital currencies are more stable and secure. At the moment, there is a wide range of development of new tools, options, and services that are currently taking place. The only problem is that most of the new tools and options for BitCoin are only theoretical, and not an actual step that occurs in the industry. It will take a long time for BitCoin to actually reach its fully functional developed stage.