The Bitcoin trading boom has seen traders invest in, deposit with and exchange huge volumes of cryptocurrency. Our guide explains what Bitcoin is and how you can trade Bitcoins. With the Bitcoin exchange rate now quoted among major currencies, market volume is huge and trading it is more accessible than you may first think. Learn all about Bitcoin trading here and compare the best Bitcoin brokers in the UK 2021.

Bitcoin Brokers List

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Found 121 Brokers

eToro logo

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Min. Deposit

$200 ($50 in US) IC Markets logo

Trade Forex on 0.0 pip spreads with the world’s leading True ECN forex broker – IC Markets.

Trade Forex on 0.0 pip spreads with the world’s leading True ECN forex broker – IC Markets.

Regulated By

ASIC, CySec, FSA Forex.com logo

Forex.com boast a global reputation. Regulated in the UK, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.

Forex.com boast a global reputation. Regulated in the UK, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.

Regulated By

NFA, CFTC, FCA, FSA, IIROC and CIMA PrimeXBT logo

PrimeXBT is a Bitcoin-based platform offering highly leveraged trading in FX, indices, commodities, & cryptocurrencies.

PrimeXBT is a Bitcoin-based platform offering highly leveraged trading in FX, indices, commodities, & cryptocurrencies.

FXPro logo

Multi-Award winning broker. Specialising in Forex but also offering stocks and tight spreads on CFDs and Spread betting across a huge range of markets.

Multi-Award winning broker. Specialising in Forex but also offering stocks and tight spreads on CFDs and Spread betting across a huge range of markets.

Regulated By

CySec, FCA, SCB Coinbase logo

Coinbase is the easiest place to buy, sell, and manage your cryptocurrency portfolio.

Coinbase is the easiest place to buy, sell, and manage your cryptocurrency portfolio.

XTB logo

XTB is one of the largest stock exchange-listed FX & CFD brokers in the world, offering access to over 2000 instruments from two platforms: its own award-winning xStation 5 and the traditional MT4.

XTB is one of the largest stock exchange-listed FX & CFD brokers in the world, offering access to over 2000 instruments from two platforms: its own award-winning xStation 5 and the traditional MT4.

Regulated By

FCA, CySEC, IFSC, KNF BDSwiss logo

BDSwiss offer 250+ Shares, Indices, Forex, Commodities and Cryptocurrencies markets via CFDs. With spreads from 1 pip and an award winning app, they offer a great package.

BDSwiss offer 250+ Shares, Indices, Forex, Commodities and Cryptocurrencies markets via CFDs. With spreads from 1 pip and an award winning app, they offer a great package.

Regulated By

CySec, FSC, FSA Trading212 logo

Trading 212 Offer a truly mobile trading experience. With tight spreads and a huge range of markets, they offer a dynamic and detailed trading environment. Recent customer care issues have severely damaged the reputation of the brand.

Trading 212 Offer a truly mobile trading experience. With tight spreads and a huge range of markets, they offer a dynamic and detailed trading environment. Recent customer care issues have severely damaged the reputation of the brand.

ForexTB logo

Trade CFDs on a powerful and intuitive trading platform. Over 300 markets to trade, with tight spreads and multi-device support. CySec Regulated.

Trade CFDs on a powerful and intuitive trading platform. Over 300 markets to trade, with tight spreads and multi-device support. CySec Regulated.

DeltaStock logo

DeltaStock is a multi-asset online broker offering desktop & mobile trading tools.

DeltaStock is a multi-asset online broker offering desktop & mobile trading tools.

Regulated By

FSC (Bulgaria) AGEA logo

AGEA is a regulated forex & CFD broker offering multiple trading platforms and account types.

AGEA is a regulated forex & CFD broker offering multiple trading platforms and account types.

Regulated By

Commission for Capital Markets Saxo Bank logo

A regulated bank, Saxobank offer CFD, Stocks and Forex trading on 40,000+ markets via the SaxoTrader Pro and SaxoTrader Go platforms

A regulated bank, Saxobank offer CFD, Stocks and Forex trading on 40,000+ markets via the SaxoTrader Pro and SaxoTrader Go platforms

Regulated By

Danish FSA, FCA and Others Fusion Markets logo

Fusion Markets are delivering low cost forex and CFD trading via low spreads and trading costs. Their message is – Stop paying too much to trade

Fusion Markets are delivering low cost forex and CFD trading via low spreads and trading costs. Their message is – Stop paying too much to trade

easyMarkets logo

easyMarkets.com – Simply Honest. Trade CFDs on Forex, Commodities, Indices, Shares & Cryptos With a Top Rated Forex Broker

easyMarkets.com – Simply Honest. Trade CFDs on Forex, Commodities, Indices, Shares & Cryptos With a Top Rated Forex Broker

Min. Trade

Varies by asset LegacyFX logo

LegacyFX is a multi-asset broker offering an MT5 download & free signals.

LegacyFX is a multi-asset broker offering an MT5 download & free signals.

Regulated By

CySEC, FCA, VFSC, NBRB Quotex logo

Quotex offers a proprietary web platform that offers digital options and copy trading.

Quotex offers a proprietary web platform that offers digital options and copy trading.

Binary.com logo

Binary.com are the established pioneers of binary options. The choice of the advanced trader, Binary.com offer the greatest flexibility of any binary broker. They also offer Forex and CFD via the MT5 platform.

Binary.com are the established pioneers of binary options. The choice of the advanced trader, Binary.com offer the greatest flexibility of any binary broker. They also offer Forex and CFD via the MT5 platform.

Binarycent logo

Deposit and trade with a Bitcoin funded account! Binarycent accept deposits in, and trade, 15+ Cryptocurrency types.

Deposit and trade with a Bitcoin funded account! Binarycent accept deposits in, and trade, 15+ Cryptocurrency types.

NordFX logo

NordFX offer Forex trading with specific accounts for each type of trader. Zero accounts offer spread from 0 pips, while the Crypto offers optimal cryptocurrency trading. Open account from just $10.

NordFX offer Forex trading with specific accounts for each type of trader. Zero accounts offer spread from 0 pips, while the Crypto offers optimal cryptocurrency trading. Open account from just $10.

Libertex logo

Libertex – Trade Online. Libertex offer CFD and Forex trading, with fixed commissions and no hidden costs.

Libertex – Trade Online. Libertex offer CFD and Forex trading, with fixed commissions and no hidden costs.

Lightspeed Trading logo

Lightspeed is a broker for high-volume traders offering advanced platforms & tools.

Lightspeed is a broker for high-volume traders offering advanced platforms & tools.

Admiral Markets logo

Admiral Markets is leading Forex and CFD broker offering the MT4 & MT5 platforms

Admiral Markets is leading Forex and CFD broker offering the MT4 & MT5 platforms

Regulated By

FCA, CySEC, ASIC Bithoven logo

Bithoven is a MT5-powered online broker offering leveraged cryptocurrency trading.

Bithoven is a MT5-powered online broker offering leveraged cryptocurrency trading.

IronFX logo

IronFX offers online trading in forex, stocks, futures, commodities and cryptocurrencies

IronFX offers online trading in forex, stocks, futures, commodities and cryptocurrencies

Regulated By

FCA, CySEC, ASIC, FSB Spectre.ai logo

Spectre.ai is a blockchain-based binary options broker

Spectre.ai is a blockchain-based binary options broker

Regulated By

St. Vincent and the Grenadines Tier1FX logo

Tier1FX is a regulated CFD and forex trading broker.

Tier1FX is a regulated CFD and forex trading broker.

Eightcap logo

Eightcap is a multi-regulated FX & CFD broker offering the MT4 & MT5 platforms.

Eightcap is a multi-regulated FX & CFD broker offering the MT4 & MT5 platforms.

Squared Financial logo

Squared Financial is a CySEC-regulated forex & CFD broker

Squared Financial is a CySEC-regulated forex & CFD broker

iFOREX logo

iFOREX is a multi-regulated forex & CFD broker with millions of clients worldwide

iFOREX is a multi-regulated forex & CFD broker with millions of clients worldwide

Regulated By

CySEC, FCA, BVI Fortrade logo

Fortrade is a multi-asset broker offering a simple live account with advanced tools.

Fortrade is a multi-asset broker offering a simple live account with advanced tools.

Regulated By

FCA, ASIC, CySEC, NBRB, IIROC AAAFx logo

AAAFx offers automated and copy platforms for forex and CFD trading.

AAAFx offers automated and copy platforms for forex and CFD trading.

Regulated By

HCMC (Greece), FSA (St Vincent & Grenadines) 12Trader logo

12Trader is a regulated online broker offering trading in forex & CFDs.

12Trader is a regulated online broker offering trading in forex & CFDs.

FortFS logo

FortFS is a multi-asset trading broker offering a range of tools & resources.

FortFS is a multi-asset trading broker offering a range of tools & resources.

FP Markets logo

FP Markets is a multi-asset broker offering a choice of trading platforms.

FP Markets is a multi-asset broker offering a choice of trading platforms.

LiteForex Investments logo

LiteForex Investments Limited is a regulated Forex & CFD broker offering the MT4 & MT5 trading platforms.

LiteForex Investments Limited is a regulated Forex & CFD broker offering the MT4 & MT5 trading platforms.

Regulated By

Marshall Islands GKFX logo

GKFX is an MT4 trading broker offering a suite of financial instruments & tools.

GKFX is an MT4 trading broker offering a suite of financial instruments & tools.

Finexo logo

Finexo is a multi-asset online broker regulated by the CySEC.

Finexo is a multi-asset online broker regulated by the CySEC.

Alvexo logo

Alvexo is a CySEC-regulated MT4 forex & CFD broker.

Alvexo is a CySEC-regulated MT4 forex & CFD broker.

ThinkMarkets logo

ThinkMarkets is a multi-regulated forex and CFD broker

ThinkMarkets is a multi-regulated forex and CFD broker

Regulated By

FCA, ASIC, FSCA ETX Capital logo

ETX Capital are a London based, FCA regulated broker offering tight spreads across a wide range of markets. They offer professional client services to Pro clients. ETX are offering a FREE trading course to new clients, and free guaranteed stops on the TraderPro platform.

ETX Capital are a London based, FCA regulated broker offering tight spreads across a wide range of markets. They offer professional client services to Pro clients. ETX are offering a FREE trading course to new clients, and free guaranteed stops on the TraderPro platform.

Skilling.com logo

Skilling are an exciting new brand, regulated in Europe and beyond, with a bespoke browser based platform, allowing seamless low cost trading across devices.

Skilling are an exciting new brand, regulated in Europe and beyond, with a bespoke browser based platform, allowing seamless low cost trading across devices.

Min. Deposit

100 £/€/$ or 1000 NOK, SEK

Min. Trade

0.01 Lots or 1 Share Alpari logo

Alpari offer forex and CFD trading across a big range of markets with low spreads and a range of account types that deliver for every level of trader from beginner to professional.

Alpari offer forex and CFD trading across a big range of markets with low spreads and a range of account types that deliver for every level of trader from beginner to professional.

Regulated By

FSC of Maritius

Min. Deposit

From $/£/€ 5 AxiTrader logo

Axi is a global online FX and CFD trading company, trusted by 60,000+ ambitious customers in 100+ countries around the world.

Axi is a global online FX and CFD trading company, trusted by 60,000+ ambitious customers in 100+ countries around the world.

Regulated By

FCA, ASIC, FMA Capital.com logo

Capital.com offer CFDs and Forex on a huge range of assets, with competitive spreads and unique platforms, including the fully functional mobile app.

Capital.com offer CFDs and Forex on a huge range of assets, with competitive spreads and unique platforms, including the fully functional mobile app.

Min. Trade

Varies by asset GO Markets logo

GO Markets is an ASIC-regulated FX & CFD broker.

GO Markets is an ASIC-regulated FX & CFD broker.

Spreadex logo

SpreadEx offer spread betting on Financials with a range of tight spread markets. Popular award winning, UK regulated broker.

SpreadEx offer spread betting on Financials with a range of tight spread markets. Popular award winning, UK regulated broker.

CityIndex logo

Established spread betting, forex and CFD broker with over 30 years in the business. Regulated around the globe.

Established spread betting, forex and CFD broker with over 30 years in the business. Regulated around the globe.

InstaForex logo

Instaforex provide Forex, CFDs, Stock and Cryptocurrency trading. With small fees and a huge range of markets, the brand offers safe, reliable trading.

Instaforex provide Forex, CFDs, Stock and Cryptocurrency trading. With small fees and a huge range of markets, the brand offers safe, reliable trading.

Min. Deposit

€1 to €1000 (Account choice dependent) Ayondo logo

Ayondo offer trading across a huge range of markets and assets. They also offer negative balance protection and social trading.

Ayondo offer trading across a huge range of markets and assets. They also offer negative balance protection and social trading.

Dukascopy logo

Dukascopy is a Swiss-based forex, CFD, and binary options broker

Dukascopy is a Swiss-based forex, CFD, and binary options broker

Regulated By

FINMA, FCMC, JFSA TradeTime logo

TradeTime is an FX broker also offering trading in stocks, commodities, & Bitcoin.

TradeTime is an FX broker also offering trading in stocks, commodities, & Bitcoin.

TrioMarkets logo

TrioMarkets is a CySEC-regulated online ECN trading broker.

TrioMarkets is a CySEC-regulated online ECN trading broker.

Regulated By

CySEC, FSC (Mauritius) FXFlat logo

FXFlat offers several asset classes on the MetaTrader 4 & MetaTrader 5 platforms.

FXFlat offers several asset classes on the MetaTrader 4 & MetaTrader 5 platforms.

101investing logo

101investing.com is a CFD broker providing access to a range of financial markets.

101investing.com is a CFD broker providing access to a range of financial markets.

ROInvesting logo

ROInvesting is an online CFD broker regulated by the CySEC.

ROInvesting is an online CFD broker regulated by the CySEC.

Zero Markets logo

Zero Markets is a multi-asset online trading broker offering ultra low spreads.

Zero Markets is a multi-asset online trading broker offering ultra low spreads.

FXOpen logo

FXOpen is a highly regulated FX & CFD broker offering multiple trading platforms.

FXOpen is a highly regulated FX & CFD broker offering multiple trading platforms.

Axes logo

Axes offers multi-asset trading through the MT5 platform and mobile app.

Axes offers multi-asset trading through the MT5 platform and mobile app.

JP Markets logo

JP Markets is an award-winning South African Forex and CFD broker.

JP Markets is an award-winning South African Forex and CFD broker.

Gemini logo

Gemini is a leading crypto trading exchange with low fees and a long list of altcoins.

Gemini is a leading crypto trading exchange with low fees and a long list of altcoins.

CMSTrader logo

CMSTrader offers multi-asset trading with fast payment speeds & useful features.

CMSTrader offers multi-asset trading with fast payment speeds & useful features.

Capex logo

Capex offers a portfolio of trading products and leading investing tools.

Capex offers a portfolio of trading products and leading investing tools.

Regulated By

CySEC, FSCA, ADGM Weltrade logo

Weltrade is an established online broker providing tight spreads & powerful tools.

Weltrade is an established online broker providing tight spreads & powerful tools.

Arum Capital logo

Arum Capital is a CySEC-regulated forex broker offering the MT5 platform.

Arum Capital is a CySEC-regulated forex broker offering the MT5 platform.

AskoBID logo

AskoBID offers multi-asset trading with a €250 minimum deposit & 1:500 leverage.

AskoBID offers multi-asset trading with a €250 minimum deposit & 1:500 leverage.

4xCube logo

4xCube is a MetaTrader forex broker registered and licensed in the Cook Islands.

4xCube is a MetaTrader forex broker registered and licensed in the Cook Islands.

Regulated By

FSC Cook Islands EverFX logo

EverFX is an online broker offering trading in forex, stocks, cryptos and commodities.

EverFX is an online broker offering trading in forex, stocks, cryptos and commodities.

Regulated By

CySEC, FSA, CIMA BitMex logo

Bit Mex Offer the largest market liquidity of any Crypto exchange. Ultra low trading costs and minimum deposit requirements. Join in 30 seconds.

Bit Mex Offer the largest market liquidity of any Crypto exchange. Ultra low trading costs and minimum deposit requirements. Join in 30 seconds.

Videforex logo

Forex broker Videforex accepts deposits in a range of cryptocurrencies. Payouts reach 95% per trade.

Forex broker Videforex accepts deposits in a range of cryptocurrencies. Payouts reach 95% per trade.

ZuluTrade logo

Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets

Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets

Min. Deposit

$1 to $300 (Broker choice dependent) PaxForex logo

PaxForex is an offshore broker offering $10 minimum deposits & MT4 trading.

PaxForex is an offshore broker offering $10 minimum deposits & MT4 trading.

ADS Securities logo

ADSS is a regulated forex broker offering $100 minimum deposits & 1:500 leverage.

ADSS is a regulated forex broker offering $100 minimum deposits & 1:500 leverage.

Regulated By

Central Bank of the UAE, FCA, SFC Just2Trade logo

Just2Trade offer hitech trading on stocks and options with some of the lowest prices in the industry

Just2Trade offer hitech trading on stocks and options with some of the lowest prices in the industry

Regulated By

FINRA, SIPC, NFA Trade.com logo

Trade.com offers thousands of tradable assets on desktop and mobile platforms.

Trade.com offers thousands of tradable assets on desktop and mobile platforms.

Regulated By

FCA, CySEC, FSCA IFC Markets logo

IFC Markets is a top broker offering the bespoke NetTradeX plus MT4 & MT5.

IFC Markets is a top broker offering the bespoke NetTradeX plus MT4 & MT5.

Regulated By

BVI FSC, Labuan Financial Services Authority

Min. Deposit

1 USD / 1 EUR / 100 JPY BP Prime logo

BP Prime offers MT4 trading with fast executions and a mobile app solution.

BP Prime offers MT4 trading with fast executions and a mobile app solution.

Global Prime logo

Global Prime is a multi-regulated trading broker offering 100+ markets.

Global Prime is a multi-regulated trading broker offering 100+ markets.

Regulated By

ASIC, VFSC, FSA Global FX logo

Global FX is an unregulated broker offering a suite of trading tools and products.

Global FX is an unregulated broker offering a suite of trading tools and products.

Tradeview logo

Tradeview is based in the Cayman Islands and offers four leading trading platforms and 100+ financial instruments.

Tradeview is based in the Cayman Islands and offers four leading trading platforms and 100+ financial instruments.

TMS Brokers logo

TMS Brokers is a leading European trading broker providing powerful tools and a suite of financial instruments.

TMS Brokers is a leading European trading broker providing powerful tools and a suite of financial instruments.

Regulated By

Polish Financial Supervision Authority (KNF) JFD Bank logo

JFD Bank offers comprehensive trading services, complete with MT4 and MT5 platforms and a range of products.

JFD Bank offers comprehensive trading services, complete with MT4 and MT5 platforms and a range of products.

Regulated By

CySEC, VFSC, BaFin  LH Crypto logo

LH Crypto combines a digital alt coin exchange with a user-friendly online brokerage offering an array of tools, instruments and payment options.

LH Crypto combines a digital alt coin exchange with a user-friendly online brokerage offering an array of tools, instruments and payment options.

MultiBank FX logo

MultiBank FX is a regulated forex and CFD broker offering sign-up deposit bonuses, tight spreads and MT4 trading.

MultiBank FX is a regulated forex and CFD broker offering sign-up deposit bonuses, tight spreads and MT4 trading.

Regulated By

ASIC, BaFin, FMA, CNMV, DFSA, FSC, CIMA NPBFX logo

NPBFX offers trading in leading financial instruments as well as copy trading.

NPBFX offers trading in leading financial instruments as well as copy trading.

Regulated By

Financial Commission ProfitiX logo

ProfitiX offers an interactive desktop and mobile trading experience via MT5.

ProfitiX offers an interactive desktop and mobile trading experience via MT5.

CoinMama logo

Coinmama aim to make entering the crypto market as easy as possible, offering BTC,ETH,LTC,ADA,BCH and XTZ

Coinmama aim to make entering the crypto market as easy as possible, offering BTC,ETH,LTC,ADA,BCH and XTZ

Kraken logo

Kraken is a top crypto trading exchange offering the largest altcoins by market cap.

Kraken is a top crypto trading exchange offering the largest altcoins by market cap.

Regulated By

FCA, FinCEN, FINTRAC, AUSTRAC, FSA Paxful logo

Paxful is a crypto trading exchange and digital wallet offering low fees and easy sign-up.

Paxful is a crypto trading exchange and digital wallet offering low fees and easy sign-up.

Min. Deposit

From 0.005 BTC Atiora logo

Atiora offers forex & CFD trading with easy-access $1 minimum deposit accounts.

Atiora offers forex & CFD trading with easy-access $1 minimum deposit accounts.

Blackwell Global logo

Blackwell Global offers seamless online trading in forex, stocks & cryptos.

Blackwell Global offers seamless online trading in forex, stocks & cryptos.

Binance logo

Binance is one of the leading online crypto exchanges offering Bitcoin.

Binance is one of the leading online crypto exchanges offering Bitcoin.

FIBO Group logo

FIBO Group is a dual-licensed forex broker offering multiple trading platforms.

FIBO Group is a dual-licensed forex broker offering multiple trading platforms.

Regulated By

CySEC, FSC BVI Grand Capital logo

Grand Capital is an MT4 retail trading broker offering multiple bonuses.

Grand Capital is an MT4 retail trading broker offering multiple bonuses.

EZ Invest logo

EZ Invest is a CySEC-licensed broker offering trading on the financial markets.

EZ Invest is a CySEC-licensed broker offering trading on the financial markets.

ForexMart logo

ForexMart is an EU-regulated broker offering MT4 trading on stocks, FX and cryptos.

ForexMart is an EU-regulated broker offering MT4 trading on stocks, FX and cryptos.

CFD Global FX logo

CFD Global FX is an offshore broker offering trading on multiple financial markets.

CFD Global FX is an offshore broker offering trading on multiple financial markets.

Dsdaq logo

Dsdaq specialises in crypto trading through its accessible mobile app & low deposit.

Dsdaq specialises in crypto trading through its accessible mobile app & low deposit.

Min. Deposit

0.001 BTC/BCH/LTC FXChoice logo

FXChoice is an offshore retail broker offering MT4 and MT5 platform downloads.

FXChoice is an offshore retail broker offering MT4 and MT5 platform downloads.

DMM FX logo

Trade a range of products on the MetaTrader platforms at DMM FX.

Trade a range of products on the MetaTrader platforms at DMM FX.

OctaFX logo

OctaFX offers multi-asset trading on a range of platforms and mobile solutions.

OctaFX offers multi-asset trading on a range of platforms and mobile solutions.

FXGM logo

FXGM offers live trading accounts on its proprietary PROfit platform.

FXGM offers live trading accounts on its proprietary PROfit platform.

FXPrimus logo

Trade the markets with MT4 trading tools alongside CySEC regulation.

Trade the markets with MT4 trading tools alongside CySEC regulation.

Regulated By

CYSEC, VFSC, FSCA FXTrading logo

FXTrading offers online forex, stocks, commodities and crypto financial markets.

FXTrading offers online forex, stocks, commodities and crypto financial markets.

AMarkets logo

AMarkets offers a suite of tools and trading products on the MT4 & MT5 platforms.

AMarkets offers a suite of tools and trading products on the MT4 & MT5 platforms.

Financial Spreads logo

Financial Spreads is a UK-regulated broker offering spread betting and CFDs.

Financial Spreads is a UK-regulated broker offering spread betting and CFDs.

Key To Markets logo

Key To Markets is an FCA-regulated online trading broker offering a variety of account types, including social PAMMs.

Key To Markets is an FCA-regulated online trading broker offering a variety of account types, including social PAMMs.

Darwinex logo

With multiple trading products and an advanced suite of analysis tools, Darwinex is an excellent online broker.

With multiple trading products and an advanced suite of analysis tools, Darwinex is an excellent online broker.

CrescoFX logo

Trade stocks, forex and commodities on the CrescoFX platform & MT4 app.

Trade stocks, forex and commodities on the CrescoFX platform & MT4 app.

TeleTrade logo

TeleTrade offers ECN accounts with tight spreads & powerful trading platforms.

TeleTrade offers ECN accounts with tight spreads & powerful trading platforms.

SimpleFX logo

SimpleFX is a CFD broker offering its own SFX WebTrader platform & low fees.

SimpleFX is a CFD broker offering its own SFX WebTrader platform & low fees.

eXcentral logo

Trade FX, stocks, cryptos and commodities with powerful trading tools at eXcentral.

Trade FX, stocks, cryptos and commodities with powerful trading tools at eXcentral.

EagleFX logo

EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.

EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.

TIO Markets logo

TIO Markets offers 120 instruments, MetaTrader platforms & PAMM accounts.

TIO Markets offers 120 instruments, MetaTrader platforms & PAMM accounts.

Moneta Markets logo

Moneta Markets is a regulated FX & CFD broker offering a proprietary web platform.

Moneta Markets is a regulated FX & CFD broker offering a proprietary web platform.

Q8 Trade logo

Trade Q8 is an online broker in the MENA region offering forex & multi-asset trading.

Trade Q8 is an online broker in the MENA region offering forex & multi-asset trading.

Regulated By

FSA (Seychelles) RoboForex logo

RoboForex is a multi-asset online broker offering powerful trading aides.

RoboForex is a multi-asset online broker offering powerful trading aides.

Uptos logo

Uptos offers multiple trading assets, payment options and the MT5 platform.

Uptos offers multiple trading assets, payment options and the MT5 platform.

StormGain logo

StormGain provides an online crypto trading platform & cloud mining tool.

StormGain provides an online crypto trading platform & cloud mining tool.

FxGlory logo

FxGlory offers leveraged trading in forex and commodities through the MT4 desktop and mobile platform.

FxGlory offers leveraged trading in forex and commodities through the MT4 desktop and mobile platform.

ITradeFX logo

ITradeFX offers online trading with competitive fees, but is the broker safe?

ITradeFX offers online trading with competitive fees, but is the broker safe?

What is Bitcoin?

Cryptocurrencies, of which Bitcoin is the best known, are arguably the most significant technology development since the dawn of the internet. Bitcoin was first launched in 2009 and is now, along with a couple of the other of the more widely adopted cryptocurrencies like Ethereum, on the verge of a mainstream breakthrough. If, as currently seems inevitable, adoption does hit tipping point, cryptocurrencies are set to revolutionise financial transactions, the banking system and even the wider economy.

In a clear sign that cryptocurrencies are now taken seriously by the financial establishment, Bitcoin and others can now be traded online in the same way as fiat currencies like the U.S. dollar, British pound and euro. Several big, well known online trading platforms have introduced Bitcoin as a tradable instrument over the past couple of years and more are following.

News

News image

November 1, 2017

Bitcoin soared to record highs today on news that the Chicago Mercantile Exchange (CME) will create a Bitcoin Futures contract by the end of the year, regulation pending. Price popped above $6400US today, and there’s really nothing to stop it from going higher still. This is bubble behaviour at it peak, but like all bubbles […]

October 12, 2017

Bitcoin tumbles on BTCChina closure.

September 15, 2017

bitcoin market

January 19, 2016

November 3, 2015

Cryptocurrencies Explained

A natural starting point is a brief explanation of what cryptocurrencies are. The currencies we are familiar with and have used on a day-to-day basis throughout most of our lives are called fiat currencies. Fiat currencies are ‘centralised’ in the sense that they are controlled by an issuing central bank, like the Federal Reserve in the case of the U.S. dollar, which issues the currency.

Central banks can, in theory, issue as much ‘new’ fiat currency as they wish. Newly created fiat currency is then injected into the economy through the purchase of government bonds or loans. When transferred electronically between owners, fiat money requires a third party to process that transaction to ensure that the electronic currency is not ‘copied’.

The ability of a central bank to create as much fiat currency as it wishes, which reduces the value of all the currency already in circulation by increasing supply, is viewed by many as an inherent problem. Likewise, the requirement for a third party to process currency transfers between two entities.

Decentralised Banking

Cryptocurrencies are seen as the answer to those inherent ‘flaws’ in how fiat currency works. Created by software using cryptography, cryptocurrencies are ‘decentralised’. When a cryptocurrency is created there is a fixed volume of it that can never be added to. In bitcoin’s case, this is 21 million bitcoin units. The limited supply means that, in theory, individual currency units have inherent value than can never be entirely lost.

Cryptocurrency units are brought into circulation through an intensive computerised process of solving complex puzzles called ‘mining’. When computer processing power solves the crypto-graphed code of a unit of currency it is rewarded to the ‘miner’ and enters the supply in circulation. The pace of mined cryptocurrency units is adjusted through time by increasing the difficulty and amount of processing power required to solve the puzzles which limits supply and maintains relative value.

Blockchain Explained

Another aspect of cryptocurrencies’ decentralised character also eliminates the need for any third parties to process transactions to avoid the risk of ‘copying’ currency. Cryptocurrency ownership and transaction records are built on an electronic ledger system called ‘blockchain’ technology. Blockchain works by every holder of a cryptocurrency unit also holding a copy of the currency’s blockchain ledger.

When any transaction is made and a unit of the cryptocurrency changes ownership that transaction is updated on every copy of the ledger once verified. This means that units of the currency cannot be ‘copied’ like an mp3 file and also means that there is not any one point of weakness allowing security breaches to compromise the integrity of the system. An illegitimate alteration of one ledger will be spotted and reversed.

Why Bitcoin?

While all cryptocurrencies operate in much the same way on a technical level, they do have some differentiations that distinguish one from the others. The most significant differential of bitcoin, compared to other cryptocurrencies is that it is the most widely adopted, which history has shown to be key when it comes to any emerging technology format.

More exchanges, merchants, software and hardware support it. It’s adoption head start mean bitcoin is far more liquid than any other cryptocurrency. Many businesses have also now been built around it and many more are in the pipeline. Bitcoin has also proven the security of its system over 8 years, an advantage that means a lot.

While bitcoin is not guaranteed to end up as the core cryptocurrency, or one of a core few, it is certainly currently in the strongest position to achieve this status.

Trading Bitcoin

Bitcoin trading works in exactly the same way as trading any fiat currency. When trading bitcoin on a CFD or spread betting platform, the trader does not actually own units of the actual currency. Trading bitcoin doesn’t need to involve any deep technical understanding of how the cryptocurrency works. Traders simply take a position on how they predict its price will move in relation to the few major currencies brokers pair it with as a tradable instrument. The most common bitcoin currency pair is, predictably, BTC (bitcoin)/USD(U.S. dollar).

Brokers who offer bitcoin trading base their prices on the underlying market made available to them by the major exchanges and market-makers with which they trade. Some brokers are even now allowing traders to use bitcoin as their account’s base currency as an alternative to their local fiat currency.

Advantages

There are several reasons why bitcoin is an attractive instrument to trade. The first is that its decentralised quality means that unlike fiat currency trading there are no ‘market hours’ and bitcoin can also be traded 24/7. This is particularly attractive for non-professional traders who have day jobs and limited time to follow markets and take trading positions during the working week.

High volatility is another reason why bitcoin is popular with traders. As the market matures, bitcoin’s volatility would be expected to drop to something more akin to that of established fiat currencies. However, at least for now daily movement ranges of up to 3% are commonplace.

Double digit moves during particularly volatile periods are also not uncommon, meaning traders can potentially make much larger profits on bitcoin than with other tradable currencies. The flipside of this is of course that big losses can also be potentially sustained if a trader is wrong.

Non-correlation with other financial markets is another plus for bitcoin as a tradable instrument. Because it is not connected to any one local economy its value is not impacted by the same geo-political and localised economic events. This makes it a good hedge against other positions traded.

Disadvantages

We’ve already mentioned bitcoin’s volatility as a major advantage to trading it and that this must also be inherently counted as a disadvantage as the potential for bigger profits also means the same potential for bigger losses.

The other disadvantage to trading bitcoin is that its price movements result from different factors than those which impact fiat currency fluctuations. Bitcoin’s value is mainly impacted by events and news related to its rate of adoption and security so traders have to learn anew where to look for relevant information and how it influences price trends.

Bitcoin Chart

How To Invest in Bitcoin

There is now a significant degree of choice when it comes to where to trade bitcoin. As recently as six months to a year ago options were limited and mainly smaller brokers offered bitcoin/fiat pairs as a tradable CFD as a niche product. Now most of the big established brokers have also introduced bitcoin pairs, opening up the market. For those who already have a CFDs or spread betting trading account, there is a good chance your broker now offers bitcoin trading and if not will likely do so in the near future.

Investors have a choice of trading options;

  • Invest in Bitcoin Directly.
    Some brokers give direct access to cryptocurrencies including bitcoin. This allows traders to buy and bitcoin as an underlying asset, exactly as they can a commodity such as oil or gold.
  • Trade Bitcoin Exchange Rates.
    Bitcoin is now being quoted alongside major forex pairs. So BTCUSD for example, is the rate of exchange for Bitcoin and the US dollar. Other pairs can be traded in the same way. A lack of correlation creates interesting diversification opportunities too.
  • Trade with Bitcoin
    There are now broker who will accept bitcoin as a deposit method. Traders can fund their account, trade with, and be paid in cryptocurrencies. This is another step along the path to the currencies getting a genuine foothold.

Deposit With Bitcoin

As mentioned, brokers are now racing to be at the head of the queue for cryptocurrency traders. There are now brands that will accept deposits in Bitcoin. So a trader can fund their account, trade in a full range of assets in the usual way, and be paid in Bitcoin too.

One established, regulated brand offering this service is eToro. They led the way in allowing retail investors to access crypto, and are doing so again in allowing traders to fund accounts this way too:

Another options is BinaryCent. This is a new brand, offering binary options only. At present, they are unregulated, but do accept bitcoin as a deposit method.

accept bitcoin at binarycent