Bitcoin brokers: the best forex brokers trading Bitcoin (BTC)

The times when cryptocurrency could be purchased on only a few exchanges are behind us. Now there are many ways available - sellers accept bank cards, transfers in different currencies, money from wallets of electronic payment systems. Below is a small FAQ on popular areas, during which we will figure out how to buy Bitcoin on the exchange with a minimum commission and without risk.

Classic crypto exchanges with margin trading

First, let's look at an alternative to Bitcoin brokers. Many cryptocurrency exchanges are in no way inferior to them, allowing effective trading with leverage. Examples of such exchanges:

• Binance. The world's leading crypto exchange provides many opportunities for trading Bitcoin and other cryptocurrencies. Supports 910 trading pairs, allows you to trade with leverage up to 10x and futures with leverage up to 125x. The interest rate for margin trading is calculated in hours, but not less than one hour.
• Currency.com. An exchange that fully complies with the legislation of the Republic of Belarus and the requirements of regulators. Supports 225 trading pairs, leverage up to 100x is available for cryptocurrencies. You can reduce risks when trading using take profit and table loss tools.
• Bybit. Exchange of perpetual cryptocurrency derivatives. There are two Bitcoin contracts (BTCUSD and BTCUSDT). The level of possible leverage is up to 100x. The platform is among the leaders in futures trading, although it was launched only in 2022; Every day, more than $1.5 billion of positions are opened on it.
• Bitmex. One of the oldest and most popular futures exchanges. Although it supports various contracts, it makes payments only in Bitcoin; deposits and withdrawals are also possible only in BTC. Leverage – up to 100x.
• Stormgain. Futures and spot trading platform supporting 10 trading pairs and 30 contracts. The opportunity to trade with a fairly high leverage is available – up to 150x. There is also a demo account for risk-free trading as practice.
• PrimeXBT. Multifunctional trading platform with margin leverage up to 1000x, the ability to open long and short positions. Allows you to trade the BTC/USD perpetual contract. An important advantage of the exchange is the absence of account verification requirements.
• Bitforex. A popular platform with high liquidity and support for 182 trading pairs. It is possible to trade perpetual contracts on BTC with leverage up to 100x. BitForex is characterized by a very high speed of operation due to the use of innovative technologies in the development of the site.

From a dollar card

In this case there are 2 options:

1. Indirect purchase. With the support of fiat crypto exchanges, you first top up your account on it, and then buy Bitcoin inside the exchange. Some crypto exchanges that do not officially support the dollar, euro and other fiat currencies have implemented the purchase of tokens through partner exchangers - Simplex, Koinal, Paxful. In this case, the fiat is transferred to the exchanger, and he then transfers the cryptocurrency to the user’s exchange wallet. The same operation is possible with a ruble card; rubles are automatically converted into dollars at the interbank rate.
2. Direct purchase. Some crypto exchanges, such as Binance, offer their users the option of direct purchase from credit/debit cards (Instant Buy). The widest list of cryptocurrencies is available when purchased with US dollars.

Below are the best trading platforms with the ability to buy Bitcoin with a dollar card:

The entire process of buying Bitcoin for dollars from a card is carried out in a couple of mouse clicks. The process is the same as when purchasing with a ruble card. Let's look at an alternative option (purchase for dollars on Binance):

1. In your personal account in the “Deposit” section on the right side of the screen we find the inscription “Buy BTC & ETH with credit card now”.

2. The How to Buy Bitcoin page will open. Click the Buy Bitcoin here button.

3. We indicate the desired amount (minimum $10) and the desired cryptocurrency. Click Next.

4. Select a card or add a new one. Click the Buy button.

5. For the first deposit, you will need to go through the KYC (“Know Your Customer”) procedure - that is, provide residence data and upload copies of documents.

After this, the entire operation takes place within a few minutes.

Relevance of Forex brokers with Bitcoin

With so many cryptocurrency exchanges, there is also a steady demand for Bitcoin-enabled Forex brokers. Accordingly, more and more brokers are introducing such a service. Bitcoin today is often perceived as the main instrument of the future financial system. The range of its use is growing rapidly, and news regularly appears that the government of a particular country is taking measures to regulate cryptocurrencies.

Although, if we compare the liquidity of cryptocurrency pairs with regular fiat pairs, it is significantly lower. However, there are a number of reasons why opening an account with a forex broker is a good idea:

• BTC trading takes place around the clock, even on weekends. While trading in stocks, indices or fiat currencies is usually only on weekdays from 10 am to 7 pm.
• If you are accustomed to the functionality of Forex brokers, then it will not be difficult for you to master bitcoin trading through them, rather than going into the study of crypto exchanges.
• BTC is an interesting trading instrument in terms of fundamental and technical factors, working with it can open up new facets of asset management that you have not previously considered.

The growth of the Bitcoin rate has attracted new investors to the cryptosphere, who view it as a new tool for generating profitability - although risky, but very promising. However, there are also risks associated with high volatility - in a short period of time, BTC trading can make you rich or bankrupt if you are not careful enough in your approach to trading. Much also depends on the right broker.

Purchase for rubles

Since Bitcoin is not prohibited in Russia, investing in this cryptocurrency is popular. You can convert rubles into dollars and buy military-technical cooperation with them, but you will lose several percent of the commission on this operation. There are sites that accept rubles directly - this reduces commission costs to a minimum.

Directly on the exchange

Not all crypto exchanges support fiat currencies. Even industry leaders often choose not to engage with them. But if fiat is supported on the site, then most often, in addition to dollars, euros and rubles are added, optionally the British pound, Japanese yen and other currencies.

Below is a list of exchanges where you can buy Bitcoin directly for rubles (via Visa and MasterCard):

An example of purchasing Bitcoin for rubles through Binance:

1. After registering on the exchange https://www.binance.com/en/register, go to the “Buy cryptocurrencies” section.
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2. In the dialog box, select “Buy”, the payment currency and the amount of funds that will be used to purchase cryptocurrency. In the same window, indicate the desired cryptocurrency.

3. A list of options for purchasing cryptocurrency appears. Choose the one you need. To directly purchase cryptocurrency from a ruble card, select Your credit and debit cards. If the cards were not previously linked to the exchange - Add a new card.

4. In the window that opens, enter your bank information and click Add a new card. A small fee may be charged when binding and will be refunded.

The application is completed almost instantly.

The procedure is approximately the same on other crypto exchanges. An exception is LocalBitcoins, on this site, after selecting a Bitcoin seller and payment method, the buyer transfers money to his details, and he, after checking the receipt of money, sends tokens to your wallet.

In this case, the exchange acts as a guarantor that the buyer and seller of Bitcoin will receive cryptocurrency and fiat currency, respectively.

Through an exchanger

This method works in cases where your exchange does not support the ruble or fiat currency in general. It will not be possible to do without a commission from the exchange office, but for popular cryptocurrencies the commission fee is small.

To select the optimal rate, use aggregator sites, for example, BestChange. On it we select the direction of exchange, sort the results according to the most favorable rate and then proceed with the exchange.

Rates are constantly changing in accordance with the exchange value of Bitcoin. Let's compare the TOP-5 at the time of preparation of the material with the exchange (exchange direction Qiwi Rub - Bitcoin). On Yobit at that moment they gave 645,131 rubles for 1 BTC.

It is impossible to calculate the exchanger's commission separately, since it is already included in the exchange rate. Considering what the payment system will charge when transferring money, in total 3-5% will be debited for purchasing coins this way.

Example:

1. On the exchange office website we set the direction of exchange.
2. Specify payment parameters.

3. At the next stage, enter personal information. In addition to the full name and number of the wallet from which the fiat currency will be transferred to the exchanger, the number of the crypto wallet is also indicated. It doesn’t matter if you have a blockchain wallet or use another type - just copy its number and paste it on the exchanger’s website.
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4. Click “Confirm”.

5. On the Qiwi.com website you confirm the transaction. After receiving the money, the exchange operator will send BTC to the specified address.

From your wallet, you can transfer crypto with a minimum commission to Binance or another trading platform. If you have not yet created a separate crypto wallet, you can immediately indicate the wallet address on the exchange during the exchange. In this case, the crypt will go to him.

The cryptocurrency exchange rate changes frequently; check the aggregator sites for the most profitable exchange offices. Bitcoin is not credited to the wallet instantly; depending on the exchanger, you need from 2 to 6 network confirmations, and this takes time. Most transactions take 20-30 minutes.

How to trade Bitcoin on a broker's platform

To trade Bitcoin through a Forex broker, you will need to create a special account. A broker is an organization that allows its users to open accounts, and then helps manage them and mediates transactions.

Not all brokers currently provide the opportunity to trade cryptocurrencies in a truly high-quality manner, since this is still not their main area of ​​activity. Therefore, you should choose an intermediary very carefully, and also not ignore classic crypto exchanges, which are 100% dedicated to crypto.

Profit is generated from changes in BTC rates. At the same time, unlike traditional assets, Bitcoin is traded around the clock, not excluding weekends. Although a number of traders still prefer not to trade on weekends.

Webmoney

Users of this payment system have 2 options for purchasing cryptocurrency:

1. Directly inside the EPS. WebMoney has created separate wallets for crypto: WMX title tokens are used, you can exchange fiat currency from your wallets to WMX tokens. When making calculations, keep in mind that 1 BTC is equal to 1,000 WMX, so the exchange machine reserve is not suitable for large purchases. The rate is higher than the exchange rate; at the time of preparation of the material, the exchange rate for 1 BTC was $10,520, and at the exchange rate we get $11,360, the difference is 7.98%.

2. Top up your wallet in fiat currency through WebMoney, and then purchase crypto on the exchange itself. Webmoney supports a relatively small number of crypto exchanges.

Some exchanges claim to support WebMoney, but from time to time this EPS does not work for either input or output. Crypto purchase scheme using LocalBitcoins as an example:

1. On the localbitcoins.com website we indicate the transaction amount, currency, country and preferred payment method. Click on “Search”, the results are ranked by the profitability of the offer.

2. We choose the best offer. In the next window, the transaction volume is set.

3. All that remains is to make the payment to the seller’s WMZ wallet and wait for the coins to be received. The required amount in cryptocurrency is reserved from the seller’s wallet, the risk of fraud is minimized.

The rate depends on the direction of exchange. In the case of purchasing Bitcoin for WMZ, you will have to pay $11,225 for 1 BTC at the exchange rate of $10,757 for 1 BTC. The overpayment is 4.35% - comparable to other methods of purchasing tokens for fiat.

How to choose a Bitcoin broker

When choosing a good Bitcoin forex broker, you should pay attention to the following criteria:

• Safety. Duration of operation, availability of licenses, reputation among users, deposit insurance measures, legal regulation.
• Deposit and withdrawal. At the initial stages, it is not recommended to work with large amounts, and not all sites support small deposits. The methods by which funds can be deposited or withdrawn also matter.
• Trading conditions. Spread sizes, fixed or floating rates, commissions.
• Order execution times. Delays of more than one second are not advisable to avoid slippage.
• Leverage. Significantly expands the opportunity to generate income, but also increases the risk of loss. Recommended for professionals only.
• Additional features, bonuses and promotions. It is especially important for beginners at first, as an auxiliary measure in the process of development and training.
• Technical support. In what language does she answer, how quickly and competently.

Based on these factors, the most suitable broker is selected.

Where to buy Bitcoin?

Buying BTC for USD on the EXMO exchange is very easy, you just need to follow a few steps:

1. Login to EXMO or create an account if you don't have one;
2. Go to the “Wallet” section of your personal account;
3. Select USD currency and top up your balance;
4. Go to the “Trades” page, select BTC/USD in the list of currency pairs;
5. Scroll down to “Buy BTC” and “Sell BTC”;
6. Select order type: Limit, Market or Stop:
   Use Order if you want to instantly buy or sell BTC at the current market price (currently 1 BTC is 44896.09 USD). This order does not require any additional settings.
7. A limit order is an order to buy (or sell) BTC at a certain, more favorable price. A buy limit order is executed only at or below the specified maximum price, and a sell limit order is executed only at or above the specified maximum price.
8. A stop order is a pending order for automatic purchase or sale operations, which is executed according to previously established restrictions in order to make a profit and (or) minimize possible losses.
9. Fill in the “Amount” and “Price” fields (pay attention to the transaction fee).
10. Click the “Buy” or “Sell” button.

Easy, right? Now you know that buying Bitcoin and exchanging US Dollars for Bitcoin is available to all users. You just need to figure it out a little.

Advantages and disadvantages of trading Bitcoin through a broker

Pros:

• You shift most of the asset management responsibilities to the broker.
• The platforms provide a wide range of possible assets; you can trade Bitcoin, stocks or commodities at the same time.
• Brokers that have been proven over the years provide a very high level of security; their activities are licensed and regulated at the official level.
• Almost all sites offer high leverage.
• Many brokers provide the opportunity to open a demo account in order to practice the functionality without the risk of losing funds.
• Trading is available at night and on weekends.
• A large number of deposit/withdrawal methods.

Minuses

• There is often a significant difference in quotes between brokers and exchanges.
• You will have to pay a commission, which is higher than on a crypto exchange.
• The choice of cryptocurrencies at brokers is minimal.

QIWI

In Russia, this is one of the most popular payment systems. Crypto exchanges that work with fiat often include it in the list of supported EPS. The purchase scheme remains the same - you top up your account on the crypto exchange and then purchase Bitcoin or another cryptocurrency for fiat.

The most profitable option for replenishing your account through Qiwi is using Yobit (this method was discussed in detail in the section Purchasing for rubles). On other trading platforms, the procedure remains the same, only the commission and the minimum payment amount differ.

Payeer

A popular international payment system, especially often used to withdraw money from the network (cryptocurrency exchanges, Forex brokers). Crypto platforms that support fiat usually include Payeer wallets in the list of methods available for depositing/withdrawing.

Here the leaders are the same exchanges as in the case of Advcash – Stex and Yobit. The procedure for replenishing an account through Payeer is almost no different from working with Advcash:

1. In the “Balances” section, select the option of replenishing via rubles.
2. Click on “+” and select Payeer among the replenishment methods.

3. An invoice is automatically generated, select Payeer as the payment method.

4. We confirm the payment and exchange rubles for Bitcoin or another coin on the exchange itself.

On other trading platforms, the procedure is the same, but there is an entry fee.