Website Reviews
Mobile Apps
Trading Robots
Top Rated CFD Sites
#1 - Pocket Option: Best Overall
Editors Summary
Pocket Option offers many excellent features to new and existing traders. When you check-out the various account types, you will see that they work with traders of any level – newbie, beginner, experienced, master etc. This site is so easy to use, and while CySEC does not license them, they have good feedback online and tick all of the boxes of a trusted broker. We love the ease of use and no-frills approach which is replicated with a great user experience.
#2 - IQcent: Best Free Demo
Editors Summary
It is clear to see that IQcent mean business and that their all-around offering to traders is making them a serious competitor in the digital options market place. From their easy to use trading platform to the fact that they offer such good withdrawal terms, you can't help but feel that this broker is going to capture the market, quickly. With a base in London, reputable licensing, an acceptance of US customers they tick all the boxes when it comes what traders want.
#3 - Raceoption: Best Mobile App
Editors Summary
Raceoption, while a relatively new broker, tick all of the boxes when it comes to trading. They are competitive and offer all of the things that you would expect. Benefits include an excellent mobile trading platform, welcome and deposit bonuses and a good support system. There are phone numbers available in many languages, alternatively, you can send a message with your details, and someone will get back to you.
Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.
Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.
What Makes a Great Broker
Like many other brokers, some factors make a good broker. From the bonuses that they offer to their licensing and regulation, competition is fierce, and you have the choice between numerous brokers. Let's take a look at some of the criteria that make a good broker:
Licensing And Regulation
Obviously, like any online transacting, if you are going to put your money somewhere, you need to know that it is in safe hands. Any platform where you are financially transacting needs to be licensed and regulated for you to be confident that your money is safe. Each country has its regulator and rules surrounding regulation, and you should always look for the licensing accreditation when you are selecting a broker.
Ease of Trading
With the evolution of technology, almost everyone transacts on the move from a mobile device. As long as you have a mobile phone and an internet connection, then you should be able to trade. You need to ensure that the broker offers a good mobile experience and that their platform is easy to navigate and use. If they don't have an app, then they should at least have a mobile-friendly website. Just visiting the site from your mobile device and having a look around will demonstrate if mobile day trading is feasible.
Bonuses And Incentives
From $25 welcome bonuses to 100% match deposit bonuses you will find a whole host of incentives to encourage you to open an account with a specific broker. Make sure they offer all the other criteria that we discuss before you get drawn in though. Remember, you cant withdraw your bonus until it has been traded a certain number of times.
Customer Service
If something goes wrong, or if you have a question about an element of day trading you need to know that there is someone there to help and advise you. Customer service can mean a 24-hour virtual assistant or someone on the phone during trading hours. A good broker will offer a high level of customer service.
How Crypto Trading Works
Similar to Forex day trading in which you trade actual currency pairs like USD/GBP, cryptocurrency day trading involves the trading of currency pairs where one or both can be a form of digital cash. An example of a cryptocurrency pair could be Bitcoin against the USD or USD/BTC. We use Bitcoin as an example because it is the most widely recognisable, but there are many types of cryptocurrency.
These currencies are what are known as World Financial Transactions and are among the most recognisable. There are many other niches within the cryptocurrency market including Application Platforms, Private Financial Transactions and Specialty Currencies. Each of these niches contains different currencies. If day trading currency markets aren't your thing, you can try "Contract For Difference" trading, this type of day trading spans many markets including stocks, shares and commodities.
While some people are yet to get to grips with cryptocurrencies, you may wonder if it is real money. The answer is yes! While you may not have physical coins and notes like with "real" money, digital cash is an entry on a database. It isn't unlike your real-world bank balance. Often you make a transaction, but you never see the actual money. When you are day trading online, there is no difference between physical currency and digital currency except our perception of it.
Cryptocurrency Bonus Deals
There are many types of bonus deals available across the many brokers. Of course, there is the favourite and widely offered "welcome bonus" which is open to all new traders. This type of bonus doesn't always require a deposit and can be used to test the platform before risking your cash. You can use your bonus to trade a range of cryptocurrencies including:
- Bitcoin - The most widely recognised and pioneer of cryptocurrency
- Litecoin - Another early entry into the market following Bitcoin
- Tether - Matches the market value as $1USD = $1 Tether
- Ripple - Launched in 2012 and a major player in the cryptocurrency market
- Ethereum - Used by application developers to pay for services on the Ethereum network
More and more brokers are now also offering no deposit bonuses to remain competitive. Other bonuses include a deposit bonus which varies from broker to broker. For some, it may be a percentage while for others they will match your deposit 100%.
There are specific criteria that come with these bonuses though. While you may get a bonus for signing up to the site you cannot withdraw the bonus until you meet a specific list of requirements. These include making a financial deposit and fulfilling a minimum trading volume.
One example of a broker requiring a minimum trading volume stipulates that before withdrawal $1,000,000 in volume must be traded! Other factors require you to deposit cash within a particular time frame and also proving your identity. You will be required to do this before making any withdrawal.
One of the benefits of crypto day trading is the potential profits available.
How we Rate Crypto Platforms
As with all of our reviews and recommendations we don't just base our ratings on internet research alone. Our team of experienced traders use every platform to test the experience for themselves. They use their extensive years of successful day trading experience to ensure that they check each site on every aspect of day trading. Only when we are satisfied that they offer an excellent all-round service will we put our name to recommending them.
While there are many cryptocurrency platforms out there, our experience means that we know what we are looking for and ultimately, what you are looking for in a broker. We deposit funds just like any other trader, use the live platforms, test the customer service and make several transactions to get a good feel for the broker and the claims that we make.
We test all aspects of the website from its ease of use and trading on the move to the app that they may offer. We substantiate their claims through our own experience so that we can bring you enough information to make the right selection. Then all you need to do is read the reviews and select the best one for you, saving you hours trawling through the internet conducting your research.
Our Review Rating System (More Info)
Frequently Asked Questions
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Is crypto day trading regulated and safe?
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Yes, crypto day trading is perfectly legal in most countries. The majority of brokers will be licensed/regulated in their country of origin.
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Can I trade without downloading software?
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Not many brokers require you to download software to trade in cryptocurrencies. If you are unsure as to whether your broker needs downloads, you can check this out before you sign up to an account.
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Do I need to start trading with real money?
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No, many brokers offer a free demo platform or a no deposit sign up bonus meaning you won't have to spend anything to start day trading.
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How can I make deposits and withdrawals?
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Deposits and withdrawals can be made using the traditional digital methods; credit/debit card, wire transfer or electronic payment systems such as Paypal and Skrill. Of course, Some brokers accept cryptocurrency.
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What is a crypto broker welcome bonus?
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You will receive your welcome bonus payment once you have completed the sign-up process. A no deposit bonus means that you can start day trading without using real money.
Top Rated CFD Site
#1 - Pocket Option: Best Overall
Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.
Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.
Charles has worked at brokers since he finished his studies at university. Starting as a Junior Trading assistant and progressing into a Business Development we’re delighted that he’s been part of the team since 2015.
