To help you find the best online broker for crypto trading, we went ahead and did the research for you. First, we selected more than 84 quality online brokers, then checked and compared their crypto selection, fees, trading platform, deposit and withdrawal options and much much more. We dug deep, so you won't have to.
5 made it to the top list. We highly recommend all 5 to you. And now, without further ado...
Our top 5 picks for the best online brokers for crypto trading for 2021:
- eToro is the winner. Free stock and ETF trading . Seamless account opening. Social trading experience.
- XTB takes second place. Low forex fees. Free and fast deposit and withdrawal. Easy and fast account opening.
- Swissquote rounds out the top three. Access to many markets and products. No inactivity fee. Rock-solid background.
- Capital.com, numero quattro. Low forex and stock CFD fees. Great account opening experience. Excellent customer support.
- HYCM. just made it to the list in fifth place. Low forex and CFD fees. Great educational content. User-friendly account opening.
| Broker | Accepts clients from | Fee score | Best in | |
|---|---|---|---|---|
| #1 | eToro | Globally | 4.4 stars | Best broker for cryptos |
| #2 | XTB | Globally | 3.9 stars | Best CFD broker |
| #3 | Swissquote | Globally | 2.2 stars | |
| #4 | Capital.com | Globally | 4.1 stars | |
| #5 | HYCM | Globally | 4.1 stars |
What makes a good online broker for crypto trading? First, they need to have a wide crypto selection. Second, the overall service of the broker, including trading platform and account opening, has to meet high standards. Finally, extra features like crypto wallet, also weighed in our selection. These criteria are easy to list, but hard to figure out. We test brokers based on more than 300 criteria with real accounts and real money. We know what's up.
Not sure which broker to choose? For a tailored recommendation, check out our broker finder tool. If you enter the name of your country it will only display brokers that are available to you. Want more details? Compare brokers with our in-depth comparison table.
Potentially boring, but important stuff: Some brokerage portfolios contain CFDs. These are complex and very risky instruments, thus not suitable for everyone. You can easily lose your invested money when you trade these products. If you feel you need more info on what a CFD is, check out these CFD trading tips.
For more in-depth details about the different aspects of crypto trading read our bitcoin article.
And now, let's see the best online brokers for crypto trading one by one, starting with the winner, eToro.
#1 Best online broker for crypto trading
eToro
eToro is a well-known Israeli fintech company, a social trading broker, established in 2007.
eToro serves UK clients through a unit regulated by the Financial Conduct Authority (FCA) and Australians through an Australian Securities and Investment Commission (ASIC) regulated entity. All other customers are served by a Cypriot unit that is regulated by the Cyprus Securities and Exchange Commission (CySEC).
eToro is not listed on any stock exchange, does not disclose its annual report on its site and does not have a bank parent.
eToro is considered safe because its UK and Australian arms are regulated by top-tier financial authorities and it is a well-known fintech company.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| Pros | Cons |
|---|---|
| • Free stock and ETF trading | • High non-trading fees |
| • Seamless account opening | • Only one account base currency |
| • Social trading experience | • Customer support can be improved |
#1 eToro
Fees
eToro offers free stock and ETF trading. The forex and CFD fees are low as well. On the negative side, non-trading fees are high: there is a $5 withdrawal fee and an inactivity fee is also charged.
| Pros | Cons |
|---|---|
| • Low trading fees | • High non-trading fees |
| • Free stock and ETF trading | |
| • Low forex and CFD fees |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Inactivity fee | Yes | Yes | No | No | Yes |
| Withdrawal fee | $5 | $0 | $10 | $0 | $0 |
| Deposit fee | $0 | $0 | $0 | $0 | $0 |
#1 eToro
Markets and products
At eToro you can trade with CFDs and forex, as well as real stocks, ETFs and many cryptocurrencies. In addition, the broker offers innovative services like social trading and CopyPortfolio.
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Cryptos (#) | 16 | 25 | 12 | 84 | 64 |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | No | No |
| ETF | Yes | Yes | Yes | No | No |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | No | No | Yes | No | No |
| Bond | No | No | Yes | No | No |
| Options | No | No | Yes | No | No |
| Futures | No | No | Yes | No | No |
| CFD | Yes | Yes | Yes | Yes | Yes |
#1 eToro
Account opening
Account opening at eToro is seamless and very fast.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Minimum deposit | $200 | $0 | $0 | $20 | $100 |
| Time to open account | 1 day | 1 day | 1 day | 1 day | 1 day |
#1 eToro
Deposit and withdrawal
Depositing money is free and easy, with a lot of available options, including credit cards. However, there is a withdrawal fee and only USD accounts are available.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Only one account base currency |
| • No deposit fee | • $5 withdrawal fee |
| • User-friendly | • Conversion fee for non-USD deposits |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | Yes | No | No | Yes | Yes |
| Electronic wallets | Yes | No | No | Yes | Yes |
| Withdrawal fee | $5 | $0 | $10 | $0 | $0 |
#1 eToro
Web trading platform
eToro offers a user-friendly and well-designed web trading platform. Social trading is available, too. On the other hand, the customizability is limited.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | |
| • Two-step (safer) login |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Web platform score | 4.4 stars | 4.4 stars | 4.3 stars | 3.9 stars | 2.8 stars |
| Mobile platform score | 4.9 stars | 4.4 stars | 4.7 stars | 4.9 stars | 3.8 stars |
| Desktop platform score | - | 4.4 stars | 3.4 stars | 3.4 stars | 3.4 stars |
| Can you set leverage manually? | Yes | No | Yes | Yes | No |
#1 eToro
Verdict
How eToro works? eToro has zero-commission stock trading. The account opening is swift and seamless. It has a lot of innovative features, like social trading and copying other (successful) traders.
It has some drawbacks, though. Non-trading fees are high and eToro only allows USD accounts, which means that conversion costs on deposits and withdrawals can be high in some cases. Live chat is hard to reach and their educational materials could be better.
So is eToro good? Overall, we would recommend eToro for its social trading feature and zero-commission stock trading.
Risk disclaimer
eToro is a multi-asset platform that offers both investing in stocks and crypto assets as well as trading CFD assets.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Cryptoassets are volatile instruments that can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading crypto assets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
#2 Best online broker for crypto trading
XTB
XTB is a global CFD and forex broker with headquarters in London and Warsaw, founded in 2002. The company is regulated by several financial authorities worldwide, including the top-tier UK Financial Conduct Authority (FCA). In addition, XTB is listed on the Warsaw Stock Exchange, and as such is required to disclose its financials.
XTB is considered safe because it has a long track record, is listed on a stock exchange, and publishes its financial statements transparently.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| Pros | Cons |
|---|---|
| • Low forex fees | • High fees for stock CFDs |
| • Free and fast deposit and withdrawal | • Product portfolio limited mostly to CFDs and FX |
| • Easy and fast account opening | • Limited fundamental data |
#2 XTB
Fees
XTB has low forex fees and there is no withdrawal fee for most transfers. On the other hand, stock CFD fees are high, and XTB also charges an inactivity fee.
| Pros | Cons |
|---|---|
| • Low forex fees | • High stock CFD fees |
| • Free withdrawal for transfers above $100 |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Inactivity fee | Yes | Yes | No | No | Yes |
| Withdrawal fee | $5 | $0 | $10 | $0 | $0 |
| Deposit fee | $0 | $0 | $0 | $0 | $0 |
#2 XTB
Markets and products
XTB's default product selection includes only CFDs, forex and crypto. Some European clients can also trade real stocks and ETFs. Popular asset classes like bonds, mutual funds, options and futures are not available.
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Cryptos (#) | 16 | 25 | 12 | 84 | 64 |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | No | No |
| ETF | Yes | Yes | Yes | No | No |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | No | No | Yes | No | No |
| Bond | No | No | Yes | No | No |
| Options | No | No | Yes | No | No |
| Futures | No | No | Yes | No | No |
| CFD | Yes | Yes | Yes | Yes | Yes |
#2 XTB
Account opening
XTB's account opening process is hassle-free, straightforward and fully digital. Your account will be ready for trading on the same day.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • No minimum deposit |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Minimum deposit | $200 | $0 | $0 | $20 | $100 |
| Time to open account | 1 day | 1 day | 1 day | 1 day | 1 day |
#2 XTB
Deposit and withdrawal
XTB deposits and withdrawals are fast, mostly free, and can be done via several channels.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Few minor account currencies accepted |
| • Free withdrawal | |
| • No deposit fee |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | Yes | No | No | Yes | Yes |
| Electronic wallets | Yes | No | No | Yes | Yes |
| Withdrawal fee | $5 | $0 | $10 | $0 | $0 |
#2 XTB
Web trading platform
XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, two-step login is not available.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Clear fee report | |
| • Good search function |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Web platform score | 4.4 stars | 4.4 stars | 4.3 stars | 3.9 stars | 2.8 stars |
| Mobile platform score | 4.9 stars | 4.4 stars | 4.7 stars | 4.9 stars | 3.8 stars |
| Desktop platform score | - | 4.4 stars | 3.4 stars | 3.4 stars | 3.4 stars |
| Can you set leverage manually? | Yes | No | Yes | Yes | No |
#2 XTB
Verdict
XTB is a great CFD and forex broker. It is regulated by several financial authorities globally, including the UK's FCA. The company is listed on the Warsaw Stock Exchange.
On the plus side, its forex fees are low, and the deposit and withdrawal process is fast and mostly free. We also liked the seamless and hassle-free account opening process.
XTB has some drawbacks, though. Stock CFD fees are high. The product range is mainly limited to FX and CFDs, although real stock and ETF trading are available in some European countries. Fundamental data offered by XTB covers only a few basics such as P/E.
We recommend XTB for clients who prefer forex or CFD trading, and also want to enjoy great deposit and withdrawal options along with fast account opening. Feel free to test it using a demo account.
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#3 Best online broker for crypto trading
Swissquote
Swissquote is a Swiss investment bank established in 1996. It has two main trading arms: a Swiss unit for trading stocks, funds, options and futures, and a company in the UK for CFDs and forex.
Formally, Swissquote Bank Ltd is based in Switzerland and is regulated by the Swiss Financial Market Supervisory Authority (FINMA), the country's financial regulator.
The other entity, Swissquote Ltd, is Luxembourg and offers CFDs and forex trading. It is regulated by the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg's regulator. The purpose of this entity is to grant access to the European markets after Brexit. The UK entity remained only for UK clients
Swissquote is considered safe because Swissquote Bank Ltd has a banking license, it is listed on the Swiss stock exchange, discloses detailed financials regularly and has a long track record.
Here, we focus mainly on the Swiss entity, sometimes referred to as "Swissquote (CH)". Throughout our content, we will refer to the Luxembourg-based entity as "Swissquote Europe (LUX)".
| Pros | Cons |
|---|---|
| • Access to many markets and products | • High trading fees |
| • No inactivity fee | • Confusing trading platform selection |
| • Rock-solid background | • Some research tools are not free |
#3 Swissquote
Fees
Swissquote charges no inactivity fee and you can trade an impressive selection of funds for favorable fees. On the other hand, trading fees are generally high, including stocks and ETFs fees, and there is a fee for withdrawing your money.
| Pros | Cons |
|---|---|
| • Low fund fees | • High stock and ETF fees |
| • No inactivity fee | • High bond fees |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Inactivity fee | Yes | Yes | No | No | Yes |
| Withdrawal fee | $5 | $0 | $10 | $0 | $0 |
| Deposit fee | $0 | $0 | $0 | $0 | $0 |
#3 Swissquote
Markets and products
At Swissquote (CH) you can access many markets and trade with a lot of different product types. At Swissquote Bank (LUX) you can trade forex and CFDs too.
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Cryptos (#) | 16 | 25 | 12 | 84 | 64 |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | No | No |
| ETF | Yes | Yes | Yes | No | No |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | No | No | Yes | No | No |
| Bond | No | No | Yes | No | No |
| Options | No | No | Yes | No | No |
| Futures | No | No | Yes | No | No |
| CFD | Yes | Yes | Yes | Yes | Yes |
#3 Swissquote
Account opening
Swissquote offers a fully digital account opening process, although we encountered wait times. There is no minimum deposit for trading accounts, but a high minimum for forex and robo-advisory accounts.
| Pros | Cons |
|---|---|
| • Fully digital | • Long wait times |
| • No minimum deposit for trading account | • Forex and robo-advisor accounts have high minimum |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Minimum deposit | $200 | $0 | $0 | $20 | $100 |
| Time to open account | 1 day | 1 day | 1 day | 1 day | 1 day |
#3 Swissquote
Deposit and withdrawal
Depositing at Swissquote is quick with credit/debit card and can be done in several base currencies. On the negative side, you can only withdraw money via bank transfer, and the Swiss entity charges fees.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Swiss entity charges withdrawal and deposit fees |
| • Several account base currencies |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | Yes | No | No | Yes | Yes |
| Electronic wallets | Yes | No | No | Yes | Yes |
| Withdrawal fee | $5 | $0 | $10 | $0 | $0 |
#3 Swissquote
Web trading platform
The Swissquote (CH) eTrading platform has a lot of functions, so many that sometimes it can get complicated. Customizability is good and there is a clear overview of trading fees, but it's easy to get lost on the platform.
| Pros | Cons |
|---|---|
| • Clear fee report | • Easy to get lost among functions |
| • Two-step (safer) login | |
| • Good search function |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Web platform score | 4.4 stars | 4.4 stars | 4.3 stars | 3.9 stars | 2.8 stars |
| Mobile platform score | 4.9 stars | 4.4 stars | 4.7 stars | 4.9 stars | 3.8 stars |
| Desktop platform score | - | 4.4 stars | 3.4 stars | 3.4 stars | 3.4 stars |
| Can you set leverage manually? | Yes | No | Yes | Yes | No |
#3 Swissquote
Verdict
Swissquote is an investment bank with a rock-solid background:
- It is Swiss,
- it is listed on an exchange
- and it is a bank.
It has two main entities, one in the UK and one in Switzerland. If you open an account at the London-based entity you can trade forex and CFDs, while the Swiss entity gives you access to assets ranging from stocks to options.
Swissquote offers a broad range of products across many markets. There are many stocks, mutual funds, and a lot of different other types of products, from bonds to cryptos.
However, nothing is free: Swissquote's trading fees are relatively high.
All in all, Swissquote is a great stockbroker. As you can trade many products and no inactivity fee is charged, feel free to give it a try.
#4 Best online broker for crypto trading
Capital.com
Capital.com is a global CFD and forex broker that was founded in 2016, with offices in London, Cyprus and Belarus. It is regulated by the UK's Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the National Bank of the Republic of Belarus (NBRB).
Capital.com is considered safe because it is regulated by the top-tier FCA.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.2% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| Pros | Cons |
|---|---|
| • Low forex and stock CFD fees | • Limited product portfolio |
| • Great account opening experience | • No price alerts on web platform |
| • Excellent customer support | • Smaller account currencies not available |
#4 Capital.com
Fees
Capital.com has low forex and CFD fees. The non-trading fees are low as well, there are no inactivity or withdrawal fees charged. On the other hand, the stock index CFD fees are not the most competitive.
| Pros | Cons |
|---|---|
| • Low forex and stock CFD fees | • Average stock index CFD fees |
| • No withdrawal fee | |
| • No inactivity fee |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Inactivity fee | Yes | Yes | No | No | Yes |
| Withdrawal fee | $5 | $0 | $10 | $0 | $0 |
| Deposit fee | $0 | $0 | $0 | $0 | $0 |
#4 Capital.com
Markets and products
Capital.com has an impressive selection of CFD, forex and crypto products compared to other CFD brokers. However, it lacks popular asset types like real stocks, ETFs and funds.
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Cryptos (#) | 16 | 25 | 12 | 84 | 64 |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | No | No |
| ETF | Yes | Yes | Yes | No | No |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | No | No | Yes | No | No |
| Bond | No | No | Yes | No | No |
| Options | No | No | Yes | No | No |
| Futures | No | No | Yes | No | No |
| CFD | Yes | Yes | Yes | Yes | Yes |
#4 Capital.com
Account opening
Capital.com has one of the best account opening processes we've seen: it is simple, quick, well-designed and intuitive. We were impressed.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Minimum deposit | $200 | $0 | $0 | $20 | $100 |
| Time to open account | 1 day | 1 day | 1 day | 1 day | 1 day |
#4 Capital.com
Deposit and withdrawal
Deposits and withdrawals are free at Capital.com and many options are provided, including Apple Pay. However, only three major currencies (USD, GBP, EUR) and one smaller (PLN) are available.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Smaller currencies not available |
| • Free withdrawal | |
| • No deposit fee |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | Yes | No | No | Yes | Yes |
| Electronic wallets | Yes | No | No | Yes | Yes |
| Withdrawal fee | $5 | $0 | $10 | $0 | $0 |
#4 Capital.com
Web trading platform
Capital.com has an easy-to-use and well-designed web trading platform, with clear fee reports and a two-step login. However, it has limited customizability and lacks price alerts.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | • No price alerts |
| • Two-step (safer) login |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Web platform score | 4.4 stars | 4.4 stars | 4.3 stars | 3.9 stars | 2.8 stars |
| Mobile platform score | 4.9 stars | 4.4 stars | 4.7 stars | 4.9 stars | 3.8 stars |
| Desktop platform score | - | 4.4 stars | 3.4 stars | 3.4 stars | 3.4 stars |
| Can you set leverage manually? | Yes | No | Yes | Yes | No |
#4 Capital.com
Verdict
Capital.com is a great CFD and forex broker, regulated by the FCA, a top-tier authority.
On the plus side, the stock CFD and forex fees are low, the account opening is very user-friendly, and customer support is exceptional.
On the other hand, Capital.com offers only CFD, forex, and crypto asset classes. Minor account base currencies and price alerts are missing from the web platform.
As there is no inactivity fee and account opening is quick, feel free to try Capital.com.
#5 Best online broker for crypto trading
HYCM
HYCM or Henyep Markets is a global CFD and forex broker. HYCM's parent company, Henyep was established in 1977. The broker is regulated by several financial authorities globally, including the UK Financial Services Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).
HYCM's UK operation is considered safe because it has a long track record and it is regulated by the top-tier FCA.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| Pros | Cons |
|---|---|
| • Low forex and CFD fees | • Only forex and CFD products |
| • Great educational content | • Trading platforms have outdated design |
| • User-friendly account opening | • Inactivity fee |
#5 HYCM
Fees
HYCM has low forex and CFD trading fees. It's also great that the broker charges no deposit and withdrawal fees in most cases. On the negative side, there is a quite high inactivity fee.
| Pros | Cons |
|---|---|
| • Low forex fees | • Inactivity fee |
| • Low CFD fees |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Inactivity fee | Yes | Yes | No | No | Yes |
| Withdrawal fee | $5 | $0 | $10 | $0 | $0 |
| Deposit fee | $0 | $0 | $0 | $0 | $0 |
#5 HYCM
Markets and products
At HYCM you can only trade with forex and other CFDs (commodities, stock indices, futures, and share CFDs). Popular asset classes, such as real stocks, bonds, mutual funds and options are missing.
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Cryptos (#) | 16 | 25 | 12 | 84 | 64 |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | No | No |
| ETF | Yes | Yes | Yes | No | No |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | No | No | Yes | No | No |
| Bond | No | No | Yes | No | No |
| Options | No | No | Yes | No | No |
| Futures | No | No | Yes | No | No |
| CFD | Yes | Yes | Yes | Yes | Yes |
#5 HYCM
Account opening
The account opening at HYCM is seamless and fully digital. Our account was verified within one business day. The minimum deposit is also low: $100 for Classic and Fixed accounts and $200 for Raw accounts.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Minimum deposit | $200 | $0 | $0 | $20 | $100 |
| Time to open account | 1 day | 1 day | 1 day | 1 day | 1 day |
#5 HYCM
Deposit and withdrawal
HYCM offers free and fast deposit and withdrawal options, including traditional methods such as bank transfer and credit card funding as well as various e-wallets. On the other hand, the number of available account currencies lags behind some of HYCM's competitors.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Average account currency selection |
| • Free withdrawal | |
| • No deposit fee |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | Yes | No | No | Yes | Yes |
| Electronic wallets | Yes | No | No | Yes | Yes |
| Withdrawal fee | $5 | $0 | $10 | $0 | $0 |
#5 HYCM
Web trading platform
HYCM's web trading platform is provided by MetaTrader. It is highly customizable, available in many languages and has a clear fee report. On the other hand, the platform lacks a two-step login or price alerts and its design is outdated.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | • No price alerts |
| • Order confirmation | • Poor design |
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Web platform score | 4.4 stars | 4.4 stars | 4.3 stars | 3.9 stars | 2.8 stars |
| Mobile platform score | 4.9 stars | 4.4 stars | 4.7 stars | 4.9 stars | 3.8 stars |
| Desktop platform score | - | 4.4 stars | 3.4 stars | 3.4 stars | 3.4 stars |
| Can you set leverage manually? | Yes | No | Yes | Yes | No |
#5 HYCM
Verdict
HYCM is a forex and CFD broker regulated by several authorities globally, including the top-tier FCA.
On the plus side, HYCM has low forex and CFD fees. The education section, especially the webinars are more informative and enjoyable than what some other brokers offer. The account opening is seamless and there are a lot of free deposit & withdrawal options.
On the flip side, the product portfolio at HYCM is limited as the broker only offers forex and CFDs. In our view, the MetaTrader platforms that the broker uses have an outdated design. HYCM charges an inactivity fee: $10 per month after only 90 days of inactivity.
We recommend HYCM for those who are interested in CFD and forex trading and prefer MetaTrader trading platforms. Feel free to test it via the demo account.
Best online brokers for crypto trading
Bottom line
Now that you have seen the details, let's zoom out. Here are the best online brokers for trading cryptos in 2021:
| eToro | XTB | Swissquote | Capital.com | HYCM | |
|---|---|---|---|---|---|
| Overall score | 4.7 | 4.7 | 4.7 | 4.7 | 4.3 |
| Award | Best broker for cryptos | Best CFD broker | |||
| Fees score | 4.4 stars | 3.9 stars | 2.2 stars | 4.1 stars | 4.1 stars |
| Account opening score | 5.0 stars | 5.0 stars | 4.0 stars | 5.0 stars | 5.0 stars |
| Deposit and withdrawal score | 3.5 stars | 4.5 stars | 4.6 stars | 4.5 stars | 4.5 stars |
| Markets and products score | 3.8 stars | 2.8 stars | 5.0 stars | 2.2 stars | 2.0 stars |
| Web platform score | 4.4 stars | 4.4 stars | 4.3 stars | 3.9 stars | 2.8 stars |
|
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79% of retail CFD accounts lose money |
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71.2% of retail CFD accounts lose money |
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71% of retail CFD accounts lose money |
eToro is our winner, the best broker for cryptos in 2021. Free stock and ETF trading . Seamless account opening. Social trading experience
We consider each broker featured on our list a good choice. Pick the winner, or any runner-up and take the next step in your crypto trading journey. Let us know what you think in the comments section.
Still unsure? Take a look at our broker finder tool to find the best crypto broker for you or learn more about investing your money.
