Trading Bitcoin with a Broker
One of the easiest ways to get familiar with cryptocurrencies is opening a trading account with a major FX broker. Lately, upon cryptocurrency boom, more and more brokers have been offering digital currency trading to their clients. Trading conditions do not vary much from one broker to another.
More often than not, brokers provide access to cryptocurrency trading through MT4 and MT5 platforms. Let’s take BTC/USD for example. On average, the minimum position amount is BTC 0.1, with the spread of 0.30% or 0.40%, thus making it reasonable to trade on H1 and larger time frames. Leverage varies from 1:1 to 5:1, so you will need to deposit $200 to $1,000 in order to start trading. The broker usually takes a fee of 0.20% to 0.30% of the transaction amount.
It should be noted that bitcoin trading with a broker means trading contracts for difference (CFD’s) that enable taking profit in both rising and falling markets without physically owning the asset. For maximum security of your funds, we recommend you open accounts only with trusted brokers that are regulated by such prominent financial authorities as ASIC, CySEC, FCA, etc.
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