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Ethereum brokers have offered significant investment opportunities since the crypto launched in 2015. Ether (ETH) is the second-largest digital currency by market cap and is popular with active retail traders. In this review, we list the best Ethereum brokers in 2024 and provide a guide to choosing between top exchanges.
Ethereum Brokers in the United Kingdom
- AvaTrade
- XTB
- CMC Markets
- Eightcap
- FXCC
#1 - AvaTrade
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Why We Chose AvaTrade
Regulated in five continents, AvaTrade offers a secure way to access crypto markets. There's a great range of digital currencies including Bitcoin, Ethereum and Ripple, plus a crypto index. You can access competitive crypto spreads in the broker's wide choice of platforms as well as 1:2 leverage.
"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."
- DayTrading Review Team
- Coins: BCH, BTC, BTG, ETH, LTC, XRP, EOS, DASH
- Crypto Mining: No
- Auto Market Maker: No
- Crypto Spread: BTC <1%, ETH 2%
- Crypto Lending: No
- Crypto Staking: No
- Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
- Minimum Deposit: $100
- Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FRSA, BVI, ADGM
About AvaTrade
AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.
Pros
- The broker offers reliable 24/5 multilingual customer support with fast response times during testing
- There's a great range of fee-free deposit methods, including bank wire, credit cards and popular e-wallets like Skrill
- AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more
Cons
- It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here
- A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
- There is no ECN account with raw spreads
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#2 - XTB
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Why We Chose XTB
XTB offers an excellent selection of cryptos with more than 50 digital currencies. Spreads are tight starting from 0.22% on BTC and leverage reaches 1:5. The xStation platform also provides intra-crypto pairs like ETH/BTC and DSH/BTC. With the capability to trade cryptos 24/7, XTB ensures a secure environment with transparent accounts for cryptocurrency day trading.
"XTB stands out as a top choice for new day traders with the terrific xStation platform, commission-free pricing, no minimum deposit, and excellent educational tools, many of which are seamlessly integrated into the platform. "
- DayTrading Review Team
- Coins: ADA, BTC, BCH, DSH, EOS, ETH, IOTA, LTC, NEO, XRP, XLM, TRX, XEM, XLM, XMR, DOGE, BNB, LINK, UNI, DOT, XTZ
- Crypto Mining: No
- Auto Market Maker: No
- Crypto Spread: 0.22%
- Crypto Lending: No
- Crypto Staking: No
- Platforms: xStation
- Minimum Deposit: $0
- Regulator: FCA, CySEC, KNF, CNMV, DFSA, FSC
About XTB
Founded in 2002 in Poland, XTB now serves more than 935,000 clients. The forex and CFD broker combines a heavily regulated trading environment with an extensive selection of 5,600+ assets and a commitment to trader satisfaction, featuring an intuitive in-house platform with superb tools to support aspiring day traders.
Pros
- With an excellent range of educational materials, including training videos and articles integrated into the platform, XTB supports traders at all levels.
- First-class 24/5 customer support is available, including a friendly live chat with response times of under two minutes during testing.
- XTB offers fast withdrawals with same-day payments if requested before 1 pm, ensuring day traders have quick access to their funds.
Cons
- Not being able to adjust the default leverage level of XTB products is frustrating, as manual adjustment can significantly mitigate trade risk, especially in forex and CFD trading.
- The demo account expires after just four weeks, a serious limitation for traders who wish to thoroughly test the xStation platform and practice short-term strategies before committing real funds.
- XTB does not offer a raw spread account, which is becoming increasingly common among competitors like Pepperstone, and may disappoint day traders looking for the tightest spreads.
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#3 - CMC Markets
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Why We Chose CMC Markets
CMC Markets offers trading on popular digital tokens like Bitcoin but really stands out for its crypto indices that provide broader exposure to the cryptocurrency market. There is also minimal slippage and an excellent 99.9% fill rate, making CMC a great option for active crypto day traders.
"With advanced charting tools and an extensive range of tradable CFDs, including an almost unrivalled selection of currencies and custom indices, CMC Markets provides a fantastic online platform for traders of all levels. "
- DayTrading Review Team
- Coins: BTC, BCH, ETH, LTC, EOS, TRON, NEO, ADA, XLM
- Crypto Mining: No
- Auto Market Maker: No
- Crypto Spread: From 1.3
- Crypto Lending: No
- Crypto Staking: No
- Platforms: Web, MT4
- Minimum Deposit: $0
- Regulator: FCA, ASIC, MAS, CIRO, BaFin, FMA, DFSA
About CMC Markets
Established in 1989, CMC Markets is a respected broker listed on the London Stock Exchange and authorized by several tier-one regulators, including the FCA, ASIC and CIRO. More than 1 million traders from around the world have signed up with the multi-award winning brokerage.
Pros
- The brokerage continues to stand out with its wide range of value-add resources, including pattern recognition scanners, webinars, tutorials, news feeds, and research from respected sources like Morningstar.
- The web platform delivers a fantastic user experience with advanced charting tools for day trading and customizable features, catering to both beginners and experienced traders. MT4 (but not MT5) is also supported.
- CMC offers excellent pricing, including tight spreads and low trading fees for all but stock CFDs. The Alpha scheme also offers perks for high-volume traders with up to 28.6% discounts on spreads.
Cons
- The CMC Markets app offers the complete trading package but the design and user experience trails category leaders like eToro.
- While CMC offers an above-average suite of assets, there is no support for trading real stocks and UK clients can’t trade cryptocurrencies.
- An inactivity fee of $10 per month is applied after 12 months of inactivity, which may deter casual investors.
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#4 - Eightcap
Why We Chose Eightcap
Eightcap offers almost 100 crypto CFDs - more than top rivals like IC Markets. Bitcoin spreads are also lower than most brokers coming in at 12. Additionally, the powerful Crypto Crusher market scanning tool is ideal for clients looking for real-time trade ideas.
"Eightcap is great for day traders familiar with MT4 and MT5 and looking to trade forex and CFDs in a secure environment. The brand is also a great pick for crypto traders with 100+ derivatives, a sophisticated market scanner, plus Bitcoin and Tether deposits."
- DayTrading Review Team
- Coins: BTC, ETH, XRP, ADA, DOGE, BNB, LTC, TRX, BCH, XRP, EOS, DOT, LINK, MATIC, SHIB, BSV, VET, AXS, NEO, SOL, XLM, UNI, DASH, AAVE, KSM, THETA, CAKE, SUSHI, ATOM
- Crypto Mining: No
- Auto Market Maker: No
- Crypto Spread: From $0
- Crypto Lending: No
- Crypto Staking: No
- Platforms: MT4, MT5, TradingView
- Minimum Deposit: $100
- Regulator: FCA, ASIC, CySEC, SCB
About Eightcap
Eightcap have a global presence and are FCA regulated. They boast low day trading fees and are the highest rated brand by TradingView users - and users can trade directly from TradingView. New traders can also sign up for a live account in just a few minutes with £100.
Pros
- AI-powered economic calendar with top-level insights, in partnership with Acuity
- 100+ crypto derivatives are available for global clients, which is more than most brokers, including crypto crosses and indices
- Raw spreads from 0.0 pips and a low $3.5 commission will appeal to active traders
Cons
- There are several frustrating jurisdictional restrictions - for example, the Crypto Crusher tool is not available for UK or Australian clients
- The demo account can only be extended upon request
- There are only four commodities available, which may disappoint experienced day traders looking to diversify their portfolios
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#5 - FXCC
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Why We Chose FXCC
FXCC offers 8 of the most popular cryptocurrencies, including Bitcoin, Ethereum and Litecoin. High leverage up to 1:10 is available on BTC and 1:5 on other cryptos. There are no restrictions on crypto day trading strategies with Expert Advisors (EAs) also permitted.
"FXCC continues to prove itself an excellent option for forex day traders with an extensive range of 70+ currency pairs, ultra-tight spreads from 0.0 pips during testing, and high leverage up to 1:500 in the ECN XL account. "
- DayTrading Review Team
- Coins: BTC, BCH, ETH, LTC, XMR, ZEC, DAS, XRP
- Crypto Mining: No
- Auto Market Maker: No
- Crypto Spread: Variable
- Crypto Lending: No
- Crypto Staking: No
- Platforms: MT4
- Minimum Deposit: $0
- Regulator: CySEC
About FXCC
FXCC is an established broker that’s been offering low-cost online trading since 2010. Registered in Nevis and regulated by the CySEC, it stands out for its ECN trading conditions, no minimum deposit and smooth account opening that takes less than 5 minutes.
Pros
- Competitive and transparent ECN spreads from 0.0 pips with zero commissions, making FXCC one of the cheapest forex brokers
- As an MT4 broker, FXCC offers advanced charting tools and excellent support for algo traders, especially when combined with the free VPS
- The free education section, including the 'Traders Corner' blog, offers a large selection of materials that will serve all experience levels
Cons
- High withdrawal fees may catch out unsuspecting traders, including a significant $45 charge for bank wire payments
- Although MetaTrader 4 continues to shine for technical analysis, the subpar design dampens the trading experience, especially compared to modern alternatives like TradingView
- FXCC’s single platform offering is a major drawback compared to many alternatives, notably AvaTrade which provides 5 platforms to suit different trader preferences
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What Is Ethereum?
Ether is a cryptocurrency launched by blockchain enthusiasts. It was designed to be used within the Ethereum network, however, it’s now accepted as a transaction method at an increasing number of online and physical merchants. Digital money can be transferred across the globe with transactions stored on a decentralized record, known as a blockchain.
A blockchain is a distributed electronic ledger that keeps track of all transactions. So ledgers are essentially the foundations of cryptocurrency transfers.
Value exchange is the main use of the Ethereum blockchain, via the network’s token, Ether (ETH). The long-term vision is to provide users with more control over their capital, replacing intermediaries with smart contracts that automatically execute transactions.
How To Compare Ethereum Brokers
The number of Ethereum brokers continues to rise following significant global interest in the digital currency phenomenon. Online exchanges provide financial services for users who want to start buying, selling or trading Ethereum.
There are several important factors to consider when choosing between Ethereum brokers:
Spot
A spot trade happens when buyers and sellers come together to exchange a token with instant settlement. Ethereum brokers act as intermediaries for buyers and sellers to bid or offer a quick way to buy the token at a fixed price.
Spot transactions via Ethereum brokerages are an easy method for beginners starting their investment journey and tend to be more user-friendly than an exchange. However, brokerage services can yield slightly higher fees.
Leverage
Leverage allows users to amplify the results of a position. eToro offers 1:2 leverage on Ether, however, rates may vary depending on local regulations and current market volatility.
Using leverage can amplify your gains, but it can also amplify your losses. Traders should always utilize risk management approaches, such as stop loss and take profit orders.
Some providers even offer the possibility of buying pre-leveraged tokens like ETH3L (long) or ETH3S (short) which amplify the price movement by three times.
Futures
Interactive Brokers is one of the top Ethereum brokers offering futures products. Futures contracts are a good option for those looking to speculate on the longer-term price of the crypto without owning the token itself. To trade ETH futures, you will need to set up an account with a registered futures broker, instruct how many contracts you would like to buy or sell, and select an expiry.
Futures also come with the possibility for leverage, and depending on regulation, this can be as high as 1:500. For example, KuCoin offers rates up to 1:100.
Fees
Fees can fluctuate significantly between providers. Brokers tend to work on a percentage charge model, for example, 0.2% of the trade value. We recommend Ethereum brokers that charge a flat rate so that you’re not penalized for smaller purchases.
Also consider other fees such as account maintenance, inactivity charges, plus deposits and withdrawals.
Regulation
The legal status of Ethereum varies around the world. Digital currency trades are viewed differently from traditional investments at most regulatory agencies. Other than anti-money laundering rules, many authorities do not have specific laws that regulate digital assets, posing risks to consumers.
The FCA, which governs the UK’s financial services, states that crypto traders are unlikely to be covered by the Financial Services Compensation Scheme or the Financial Ombudsman Service. This is different for cryptocurrency derivatives, where the rules are often more clear-cut. The FCA has banned derivatives on Ether and other digital currencies for UK traders.
We always recommend opening an account with Ethereum brokers that are regulated in your local jurisdiction. The CySEC, FCA and ASIC are some of the top agencies that regulate online exchanges and investing platforms.
Platforms
Selecting Ethereum brokers with powerful but user-friendly platforms is important. Whether that be the industry-established MetaTrader 4 (MT4) or bespoke proprietary terminals, traders of all experience levels should be able to find a system that meets their needs.
Integrated price analysis tools and interactive charts and graphs will support your transaction decisions, so look for a platform that offers intuitive services. You can also utilize demo accounts to get a feel for features before opening a live account and depositing capital.
Mobile App
Mobile apps are becoming the norm at many Ethereum brokers. With crypto available 24/7, 365 days a year, easy-to-use apps create the access point needed from a mobile or tablet device.
Keep track of those vital and sometimes sudden price movements with alert notifications and manage transactions while on the move.
Tools
The best Ethereum brokers provide additional features, such as access to information on strategies or other educational resources. These can be particularly useful if you’re new to crypto investing.
An increasing number of Ethereum brokers also offer bots (known as Expert Advisors). These automated programmes can save you time and energy by completing calculations and executing orders on your behalf. Of course, exercise caution when allowing anything to trade on your behalf. While some Ether bots can be effective, others are low-quality and could lead to losses.
Accounts
The type of investing account you select is important. Ethereum brokers tend to offer various options, but the cheapest account may not always provide the best profit potential. Look for competitive spreads and commissions, low fees for deposits and withdrawals, plus customizable tools to suit your strategy and volume.
Bonuses
Brokers that offer Ethereum sometimes run financial incentives and rewards. This can include no deposit bonuses or loyalty schemes based on investment volumes. We recommend finding a good broker before considering their incentives – never pick one purely because of the welcome bonus. And always check the terms and conditions to understand the potential limits of the offer and whether this applies to Ethereum.
Customer Support
The top Ethereum brokers offer good quality customer support. As the digital currency market is open 24/7, we would recommend a platform with contact times that stretch into the evenings or weekends, especially if you plan to open and close positions then.
Customer support channels at the best Ethereum brokers include multilingual chatbots, email, social media, or telephone assistance.
Deposits & Withdrawals
Look out for Ethereum brokers that accept quick and easy online deposits and withdrawals. Exchanges may take additional fees on top of third-party charges to deposit, so check these before funding your account.
Some brokerages also facilitate Ethereum deposits directly. Brokers that accept Ethereum payments make it easier to finance, trade and manage Ether investment portfolios.
Fiat currencies, such as USD and EUR, are also widely supported on investing platforms. However, note that currency conversion fees may be incurred for transferring ETH to and from other fiat and cryptocurrencies.
Minimum Deposits
Minimum deposit requirements vary between Ethereum brokers. FP Markets, for example, requires a $100 initial deposit. For inexperienced or new traders, in particular, opting for a platform with zero or no deposit requirement could be a sensible option.
Gas Fees
Gas charges refer to the costs required to execute a transaction on the ETH blockchain. Complicated transactions involving smart contracts, for example, require a higher gas limit vs a simple transaction. Gas prices are usually quoted in GWEI, a denomination of Ether. These are usually integrated into an Ethereum broker’s fees, however, you may have less flexibility to select a gas fee based on your desired processing time.
Gas fees are also affected by the price of Ethereum. Because one GWEI is equivalent to 0.000000001 ETH, when the cryptocurrency is on a bull run the gas fees also increase. For example, Ethereum’s average daily gas charge was around $40 between January 2021 and May 2022. However, in August 2022, the average fell to $1.60.
Note, these charges don’t go to the broker, but to the miners and those responsible for securing the network as a reward for their efforts.
Final Word On Comparing Ethereum Brokers
Ethereum brokers provide user-friendly investment opportunities for aspiring crypto traders. Review the key features noted above to help find a platform that meets your needs. Alternatively, see our list of the best Ethereum brokers to get started today.
Finally, be mindful of local regulations and check the status of Ether investing in your jurisdiction.
FAQs
What Are Ethereum Brokers?
Ethereum brokers are online platforms that facilitate the purchase, sale and exchange of Ether (ETH). This could be in the form of spot and leveraged investing, futures, CFDs or other derivatives.
Why Use Ether Brokers?
ETH brokers often provide an easy-to-use investing platform. Clients benefit from customer support, a range of deposit methods, established analysis tools, as well as various educational resources.
How Do I Know Which Ethereum Brokers Are Best?
When looking for the top Ether brokers, consider fees, spreads, tools, and product types, such as spot and derivatives. We also recommend signing up for an account with a regulated provider, as this will provide additional retail trader protections.
Can I Trade Ethereum Futures?
Yes, several brokers offer Ether futures, including Interactive Brokers and Binance. Ether futures are popular with active investors looking to speculate on the price of the token at a fixed point in the future.
What Is The Difference Between An Ethereum Broker And An Exchange?
An exchange provides an online platform for users to buy and sell Ethereum with each other. Ethereum brokers, on the other hand, set the price and typically offer additional tools and services to facilitate active investing.
