Best Crypto Currency Brokers

Best Crypto Currency, Bitcoin Trading Brokers in 2021

Top 3 crypto currency trading firms. Best brokerage companies for bitcoin (BTC), etherium investing account in 2021.

Cryptocurrency Trading at Webull

If you’re looking for a low-cost way to tap into the cryptocurrency market, Webull could be the answer you’re looking for. The brokerage firm currently offers trading in four digital assets:

Bitcoin Cash

Buying and selling these coins couldn’t be any less expensive as Webull charges zero commissions on crypto trades. The broker does use a 1% spread from the midpoint for both the ask and the bid. This will result in a 2% cost in a round-trip trade.

Actual trading of coins at Webull takes place on a mobile app, desktop platform, and a browser system. All three programs are user-friendly on one hand but powerful on the other.

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Orders for crypto assets at Webull can be submitted as either market or limit orders. There are two time-in-force choices: immediate or cancel (for market) and day (for limit). Only buy orders can be used on the opening side.

The quantity field on Webull’s order ticket can be toggled among three choices: dollar amount, coin amount, or percent of crypto buying power. In all three cases, a fraction of a whole number can be used.

Crypto assets can be charted at Webull with the same software that stocks and other securities use. This means a graph can be displayed the full width of the monitor with 8 display styles. Webull has recently added to its list of technical indicators; we found approximately 30 of them. There are several drawing tools in Webull’s tool palette, including several Fibonacci widgets.

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Crypto settlement at Webull is trade date plus one business day (T+1). The end of a business day is approximately 9:25 pm, EST. Although Webull does offer Individual Retirement Accounts, cryptocurrencies can only be traded in individual cash and margin accounts.

Webull customers cannot transfer digital currencies into a Webull account or out of one, which obviously will be a drawback for some traders. More in Webull crypto trading »

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Cryptocurrency Trading at eToro

Traders who want to move cryptocurrencies out of an account should check out eToro. The broker has a digital wallet that permits moving cryptocurrencies from the eToro website (there is no desktop platform this time) into a linked eToro digital wallet (but not in the other direction).

The process is very simple. Just click on a holding and then click on Transfer to Wallet in the pop-up window. There is a fee associated with transferring a coin. The exact fee varies by coin.

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Speaking of fees, eToro doesn’t charge commissions on crypto trades, although it does make money off of the bid-ask spread, just as Webull does. Spreads vary from 0.75% (on Bitcoin) to 2.9% (for Cardano and Dash).

As with Webull, eToro charges no account fees. However, eToro does require a $50 deposit to access research information on cryptocurrencies. eToro also has a $25 minimum trade amount (for US-based customers). Webull only has a $1 minimum.

But eToro offers many crypto services that are completely unavailable at Webull. For example, eToro offers copy trading. With this scheme, it’s possible to literally copy the portfolios of other traders on the eToro platform. The account minimum for this is a little higher (it’s $1,000), but eToro doesn’t charge anything for it.

If you’re undecided on copy trading, you can add traders to a watchlist and monitor their portfolios before making a decision. Or you can invest in a crypto portfolio created by eToro itself.

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And if you want to analyze specific coins before making any type of investment at all, you can conduct a great deal of research on the eToro platform. Just click on the Research tab on a coin’s profile (this is the tab that requires a $50 deposit).

Here, eToro presents trade signals from technical indicators like MACD, exponential moving average, and RSI. The same tab presents news articles on cryptos (which Webull also has). The Chart tab has several useful graphing tools.

One feature Webull doesn’t have that eToro does is a digital bulletin board for each crypto. Just click on the Feed tab on a coin’s profile to access comments on that asset by eToro users.

As for the specific coins available for trading at eToro, there are currently fourteen of them. All of the majors are there except for Ripple.

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eToro USA LLC; Virtual currencies are highly volatile. Your capital is at risk.

Cryptocurrency Trading at Robinhood

Robinhood only offers seven cryptocurrencies for trading, but the list includes Dogecoin and Bitcoin SV, neither of which is available at Webull or eToro. Although Robinhood doesn’t advertise its spread, we found the spread on Bitcoin to be less than a tenth of a percent (take a look at the screenshot, which shows the mid-price on the left and the ask price (as Estimated Price) on the right). Robinhood’s spread is clearly much smaller than Webull’s or eToro’s spread.

Despite Robinhood’s very low spread, it still manages to deliver some decent trading tools. It doesn’t have a desktop platform, but cryptos can be traded on the broker’s user-friendly website or mobile app.

Robinhood crypto trading

On either platform, a coin’s profile has a chart and news articles. CoinDesk and Cointelegraph are a few examples of sources.

Charts unfortunately don’t provide a great deal of information. Website charts do have 4 technical indicators, but there are no other tools. Up to 5 years of price data can be shown. Live price action is one highlight.

On the mobile app, a chart cannot be rotated horizontally, and there are no technical studies.

Robinhood’s order ticket has the same features on both the mobile app and website platform (you have to tap on a Buy button on the mobile app first to get the order ticket). Market and limit orders are the only two choices. The trade amount can be specified either in fractional dollars or fractional coins.

How to buy bitcoin on robinhood

Robinhood doesn’t have nearly the same level of research tools we found at eToro. But it does have a default cryptocurrency watchlist, with some minor crypto watchlists, like Altcoins and Ethereum Family.

Robinhood does not provide any wallet services, and coins cannot be transferred into or out of a Robinhood account.

Robinhood has a position limit of $350,000 (measured by cost basis) per coin. More in Robinhood crypto trading »

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