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Showing content with the highest reputation on 12/25/2017 in all areas

  1. Sure @Dennis#MD. I have been looking in to the matter for couple of weeks before making a decision. For me the most important criteria were: 1. Time you are able to trade. This is probably crucial, since the crypto market is open 24/7, and most brokers will operate on the 24/5 basis. As you are probably aware, cryptos are extremely volatile, so if you are looking at taking a position and holding it longer term like me (weeks instead of days) you want to be able to get out (or get in) at any time and any day. Fe. imagine having a position at +10%, and then your broker closes for the weekend. But because the crypto market never stops, bad things can happen, and next thing you know the market is down 40% just in two days. So that's a gap lower on monday open and it doesn't matter that you had your stop at +5% or break even. So decide what sort of trades will you be taking? Long term vs. short term? 2. Spread This is pretty much straight forward. You want to be able to move in to profit as soon as possible. Some brokers like iqoption are bonkers. 1000usd spread to trade bitcoin. And the worst thing is, that probably a lot people trade with them. So do check that one! 3. Swap This applies to longer term positions. If you carry your position past midnight you will pay (not 100% sure, but i don't think there's a positive swap on cryptos) a swap rate on it. So check the rates for long and short positions. I was not able to find any swap free brokers (as you can in FX). 4. Leverage You won't get crazy numbers like 500:1 like in FX (and you don't want that). But 10:1 or 20:1 could be nice. Although 20:1 is rare in crypto world. 5. Platform For me mt4 or ctrader is ideal, because i know these platforms quite well and can integrate them together in the future. Thing is I was not able to find acceptable option. But that's fine since you can always chart on tradingview or so, and just place pending orders. You would have to use it any way because of the price discrepancies. Fe. if looking at BTC/USD, you should watch coinbase and bitstamp price feeds. So don't take my word for it. Do some research yourself. Brokers I have looked in to are as follows. fxpro.co.uk I have been using them in the past. It's a great broker. Account has to be opened under FCA (not CySec) to be able to trade crypto. Spreads are reasonable, do offer mt4 and ctrader. Have most popular cryptos. Did not choose only because 24/5 avatrade.com Spreads are a bit higher, offer mt4, popular cryptos, 24/5 fbs.com Plenty of account types, offer mt4, popular cryptos. Can't say if this one is 24/5, but my main issue was the execution time. Even on demo it would take a few seconds to go through. And I know they have been around for quite a while, but a broker from Russia does not make me sleep better at night. Also they claim to offer 3000:1 leverage (FX only), that does raise questions. iqoption.com Plenty of choice, but as explained earlier, killer spreads. And their platform is a bit like a toy for little children. xm.com Would have been ok, but again 24/5 The one that i chose is plus500.com Their platform is not great. But as I've said before you can/need to chart elsewhere. They have a mobile platform available too. You have main cryptos to trade. Spreads are low, swap is not bad. It's open 24/7! Leverage on BTC 10:1. Had to deal with support and have to say it's more than decent. EDIT: Positions expire after 24h. Hope this helps. If you got any questions feel free to fire away ;)
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