Best Cryptocurrency Brokers in the UK
If you would like to know where to buy cryptocurrency in the UK, this comprehensive guide will explore the best cryptocurrency brokers in the United Kingdom. We’ve selected the top options based on several factors, such as ease of use, fee structure, coin variety, and security. Also, you’ll learn about different types of brokers and what to look for when selecting the best cryptocurrency app in the UK for yourself.
There are also specific brokers. An example to mention is a Bitcoin broker. But, what does a Bitcoin broker do? A Bitcoin broker enables you to buy or sell Bitcoin. Without a Bitcoin broker, you cannot safely trade specific cryptocurrencies like bitcoin. To avoid scams, using a trusted Bitcoin broker is crucial when you are trading bitcoin.
In this article, you will find some of the best Bitcoin brokers list for investors in the UK, reviewing their offerings and pros and cons. But, remember you should only use regulated Bitcoin brokers.
Best Cryptocurrency Brokers at a Glance
Overall best Cryptocurrency broker: eToro
Best Cryptocurrency broker to buy Cryptocurrency: Coinbase
Best Cryptocurrency CFD broker: Capital.com
Best Cryptocurrency broker for crypto trading: Kraken
Best Cryptocurrency brokers for leverage and margin trading: KuCoin
Best Cryptocurrency broker to trade Cryptocurrency futures and options: Binance
Best MT5 Cryptocurrency broker: Eightcap
Best Cryptocurrency OTC broker: Binance
Best Cryptocurrency broker with an app: Crypto.com
Cheapest Cryptocurrency broker with lowest fees: Libertex
Top 10 Cryptocurrency Brokers Reviewed
In this table you can analyze the top 10 cryptocurrency brokers that were selected based on fees, security, available cryptos, trading software, staking options, and more.
eToro - Best for Beginners
eToro is a fantastic broker tailor-made for beginners with its simple crypto trading interfaces and tutorials. The platform features over 70 cryptocurrencies with trading pairs across multiple markets like metals and stocks.
This broker stands out with its educational content located within the eToro academy. Here complete beginners can learn the fundamentals of crypto trading, cryptocurrency basics, and if you should invest. Also, more experienced traders can enroll in advanced courses to expand their knowledge.
Overall, eToro is a great specific Bitcoin broker and a general crypto broker for traders due to its many features like copy trading, staking, news & analytics, demo accounts, and more.
Plus500 - Best for Trading in Multiple Markets
Plus500 is a global brand that offers opportunities to invest in cryptocurrencies through CFDs (contract for differences). The broker mainly provides large market-cap cryptocurrencies such as Bitcoin, Ethereum, and Ripple. However, you can find other CFD products like the Crypto 10 Index, which combines the top 10 coins into one asset. Most Bitcoin brokers including Plus500 now offer cryptocurrencies in CFD form, and some also may offer other derivative products like futures.
Moreover, the platform has many useful tools, like the economic calendar, which details financial events worldwide. Also, you can set up alerts if you want to track an asset’s price and enable risk management tools.
Plus500 is perfect if you want to diversify your portfolio while acquiring cryptocurrencies since you can access the following markets: indices, forex, commodities, shares, options, and ETFs. In addition, the Trading Academy has plenty of useful eBooks and videos that can help familiarize you with the platform.
Coinbase - Best for Buying Cryptocurrencies
Coinbase is an established platform that makes it easy to buy, sell, and stake cryptocurrency. Beginners will likely favor this broker over most due to its simple sign-up process and the convenience of acquiring cryptocurrencies. You can instantly buy cryptocurrency with a debit card or alternatively deposit first and use the crypto trading software.
Moreover, you have access to multiple staking pools, and Coinbase will showcase the APY, so you know the expected rewards before committing your coins. Also, those with small portfolios can take advantage of Coinbase’s cryptocurrency courses that reward users with coins after completion.
All-in-all, Coinbase is a brilliant platform with many useful features as a crypto investor, like derivatives, staking, learning rewards, and a wallet.
Capital.com - Best for CFD Trading
Capital.com is a global brand founded in 2016 that specializes in CFD trading. The platform has an impressive range of cryptocurrencies, resulting in over 450 crypto CFD products. The spreads for each coin are tight, and Capital.com takes 0% commission.
Investors will find the blog section incredibly helpful as it provides news, analysis, insights, and explainers. The content is updated regularly, so you are always up-to-date with new developments. However, those with no experience with trading Bitcoin and other cryptos can use the Learn to Trade section, which has CFD and cryptocurrency trading guides.
Libertex - Best for Commission-Free Trading
Libertex is an online CFD broker with decades of experience. In 2021, the broker was awarded the Most Trusted Broker and Best Trading Platform. In total, Libertex has received over 40 international awards. Its reputation attracts new investors to the platform, and they stay due to the service provided in return.
Once you sign-up, you have access to three crypto trading platforms - MetaTrader 4, MetaTrader 5, and Libertex Trading Platform. MetaTrader 4 is currently the most popular professional trading software. However, you can use MT5, an updated version with more features. Alternatively, you can use the award-winning Libertex Trading Platform.
Trading crypto CFDs has many benefits on Libertex, such as 0% commission, 0% swap for overnight positions, and tight spreads. Also, you have access to a wide range of cryptocurrencies from small market cap to high.
Crypto.com - Best for Trading on an App
Crypto.com is a premium crypto exchange that supports spot trading, NFTs, leverage trading, staking, and more. The platform allows users to carry on trading on its app and it was founded in 2016 and has grown significantly to over 50 million customers in recent years. This was due to multiple reasons, mainly from sponsorships with celebrities and global sports brands.
The spot trading software is straightforward to understand and comes with several tools. Also, have access to different investment activities such as perpetual, futures, warrants, and OTC (over-the-counter). However, if you don’t trust your crypto trading skills, you can implement a crypto trading bot, a new feature recently added to the platform.
The broker has its own cryptocurrency called CRO, which can be used to pay for fees or stake. When using CRO to pay for platform costs, you’ll receive a 20% discount, increasing your profits. Crypto.com also provides a Visa card with multiple perks like CRO rewards and subscriptions to various streaming services.
Eightcap - Best for Trading Software
Eightcap is a beginner-friendly Australian broker founded in 2009 by Joel Murphy. There are over 250 crypto derivative products, which you can analyze by going to the main crypto page and selecting to see the full list. Here you’ll see the spreads and maximum leverage for specific coins.
The broker provides MetaTrader 4 and MetaTrader 5, which are advanced trading software with useful tools. They are downloadable, so you can trade directly from your desktop rather than a browser. Eightcap’s diverse educational section covers various topics like trading fundamentals and strategies. Also, if you’ve never used MetaTrader software, there are many helpful tutorials.
Binance - Best for Futures and Cryptocurrency Variety
Binance is a popular crypto exchange that offers services for beginners and experts. The simple convert section lets users exchange coins without using the trading software. Also, you can buy crypto instantly using a credit or debit card. More advanced users will enjoy the spot trading software because of its ease of use, multiple order types, and trading tools.
The platform offers other ways to invest, such as futures, options, and leveraged tokens. You can even borrow up to 50x your investment, letting you place significantly larger positions than you originally would.
Once you buy cryptocurrency, you can use the staking section to allocate your coins and receive rewards. Binance will showcase the type of investment product along with the expected APY.
Kraken - Best for Security
Kraken is a newcomer-friendly crypto platform known for its security. A few of its protective features include 95% of all crypto and NFT deposits being kept offline, regular penetration testing, real-time monitoring, SSL encryption, and 2FA.
The spot trading interface is impressive and doesn’t over-complicate the process of buying coins. All necessary information is displayed conveniently, and crypto trading tools are at your disposal if you need them. Furthermore, experienced traders can enable leverage trading and borrow up to 5x their holdings.
Staking on Kraken is effortless, and you’ll know the APY with payout dates beforehand. Currently, the broker offers several cryptocurrencies and two fiat currencies to stake. To summarize, Kraken is an amazing choice for UK investors because of its ease of use. You can access many features such as 2FA, spot trading, leverage, crypto guides, NFTs, and much more.
KuCoin - Best for Leverage and Margin Trading
KuCoin is an excellent choice for those who want a diverse range of crypto assets. The broker offers 736 cryptocurrencies and over 1200 trading pairs, making it easy to diversify your portfolio. After acquiring your coins, you can stake them to secure the network and receive rewards.
The crypto trading software is easy to use, although it can initially look complex to understand. It comes with a variety of useful trading tools like pitchfork, trend line, brush, text, measure, and more. Also, you can set different trade types - stop-loss, limit, and market.
Unfortunately, KuCoin does not allow fiat currency deposits and only accepts cryptocurrency. However, buying cryptocurrency instantly with a bank card is available. Also, you do not need to complete KYC to trade on KuCoin, but your account will have restrictions.
Best Crypto Brokers for Top Cryptocurrencies
This table discloses some Bitcoin broker options including the best crypto brokers for buying large market cap cryptocurrencies. However, if the broker doesn’t fit your needs, we have attached our reviews, which go into detail on which platforms are the best for buying a specific coin.
What Is a Cryptocurrency Broker?
Cryptocurrency brokers act as intermediaries between the cryptocurrency market and investors to facilitate trades. Often brokers provide cryptocurrency assets in the form of CFDs (contracts for differences), derivative products that track an asset’s value. Therefore, investing through this method means you won’t own the cryptocurrency you’ve bought and cannot spend or utilize it.
What Is the Difference Between a Cryptocurrency Broker and a Cryptocurrency Exchange?
The main difference between both platforms is that brokers issue CFDs, while a crypto exchange let you buy real cryptocurrency. Also, a crypto exchange offer different services like crypto loans, crypto deposits, and staking.
What to Look for in a UK Bitcoin Broker?
First of all, what are Bitcoin brokers? Perhaps the most simple comparison to make is that Bitcoin brokers are relatively similar to traditional share dealing sites. This is because Bitcoin brokers sit between you and the investment markets.
To avoid scams, using a trusted broker is crucial when you are trading bitcoin. There are numerous factors and features to consider when choosing which broker to use to buy Bitcoin in the UK. Not only are there core features you want to find in any Bitcoin broker, but also there is a select range of features specific to the UK as a region. It's important to remember that different countries and regions will have slightly different regulatory environments and this should factor into your decision. Make sure you always use a trusted and highly-regulated Bitcoin broker to buy Bitcoin.
Do you need a broker to trade cryptocurrencies?
No, CEXs, DEXs, and P2P platforms allow users to also trade Bitcoin and other cryptocurrencies. However, using a broker has some advantages and negatives.
Types of Crypto Brokers for Cryptocurrency Trading
The following section highlights the top brokers for trading cryptocurrencies.
Cryptocurrency CFD Brokers
CFDs (contract for differences) are derivative products, so you won’t own the underlying asset while being invested. They are the most popular type of asset offered by most crypto brokers and Bitcoin brokers. Here are the top choices:
Cryptocurrency ETF Brokers
ETFs (exchange-traded fund) are securities that work similarly to a mutual fund. The trading platforms below were selected for their ETF and ETP variety, ease of use, and fee structure.
Cryptocurrency OTC Brokers
Over-the-counter (OTC) are a way for individuals or businesses to buy and sell cryptocurrencies outside of the traditional market. This feature allows high-value clients to create private deals directly with the crypto exchange and potentially get better deals. These are the overall top choices:
Ways to Trade Cryptocurrency With a Cryptocurrency Broker
Cryptocurrency brokers can offer different crypto trading activities like futures, spot, options, and more. We’ll highlight the top trading platforms for different crypto trading strategies to save you time researching.
Cryptocurrency Futures Trading
Cryptocurrency futures are legal agreements to buy or sell coins in the future at a predetermined value. This lets you get a better price on coins if you accurately predict if it rises or falls.
Cryptocurrency Options Trading
Cryptocurrency options give you the right to buy or sell coins at a specific price. Unlike with futures, you are not obligated to buy or sell, making options much less risky.
Cryptocurrency Day Trading
This method for trading Bitcoin and other crypto assets involves buying and selling cryptocurrencies every few minutes, hours, or even days. For this reason, you’ll want to use a platform with low fees to increase profits. Binance and KuCoin have developed their own crypto assets, which give discounts when paying fees.
Cryptocurrency Leverage and Margin Trading
With leverage and margin trading, you can increase your position’s value by borrowing money. For example, if a broker has 100x leverage and you have GBP 1,000, you can place trades up to GBP 100k in value. However, note that this is an extremely risky investment strategy as crypto prices are volatile, and you can get liquidated quickly.
Cryptocurrency Spread Betting
Some crypto exchanges and crypto brokers provide spread betting features. This lets users place bets on cryptocurrencies, whether or not they will gain or lose value. KuCoin has one of the best spread betting apps and lets you team up with friends or strangers.
Cryptocurrency Binary Options Trading
Crypto binary options let investors place “yes” or “no” bets on the future value of an asset. They are attractive to traders due to their simplicity. However, this type of trading is extremely risky as coin prices are volatile, and it's impossible to predict dips or rises in small time frames.
What to Consider When Choosing a Cryptocurrency Broker?
When selecting a cryptocurrency broker, there are a few considerations to make beforehand. This part of the guide covers the top brokers in specific categories like staying anonymous, deposit methods available, and crypto trading tools.
Cryptocurrency Trading Knowledge
The crypto exchanges and crypto brokers below are ideal for beginners due to their ease of use, deposit methods, and user-friendly interfaces. Also, with eToro and Kraken, you can enable the demo account feature to test the platform before committing your money.
Price Analysis Tools, Charting and Indicators
More advanced traders will want to use trading tools and indicators to help trade Bitcoin and other crypto assets. Therefore, we’ve researched and selected the top three brokers that provide advanced trading interfaces along with useful tools.
Cryptocurrency Broker Anonymity and Verification
Cryptocurrency brokers require uploading ID to comply with KYC laws. Therefore, you cannot be anonymous when trading with a broker. If anonymity is a concern, you can trade Bitcoin and other crypto assets using a DEX, which doesn’t require creating an account or ID.
Available Payment Methods for Cryptocurrency Trading
This table displays the top crypto exchanges and crypto brokers for popular payment methods.
Broker Trading Software
Brokers often use their own proprietary trading software or the MetaTrader 4. Here you can see what the most popular brokers are using:
Cryptocurrency Spreads, Margins and Leverage
When brokers sell Bitcoin and other cryptocurrencies they usually apply a spread on the price. This means the value of the asset will be a little above the market rate. For example, if Ethereum is $1,000, the broker will list ETH at $1,010. This is how brokers can maintain a 0% commission as they make their profits from spreads.
Margin and leverage trading gives you more buying power by borrowing funds from the platform. If the broker allows 20x leverage, you can borrow up to 20 times your holdings. However, this doesn’t come without risk, as you’ll have a liquidation value. If the coin goes below or above the liquidation value (depending on whether you shorted or longed), you can potentially lose your whole investment.
Compare the Fees for Cryptocurrency Brokers and CFD Brokers
Here you can see the costs of using the following brokers:
Broker Ease of Use and Accessibility
When choosing a specific Bitcoin broker or a general crypto broker ease of use and accessibility should be huge factors to consider. The crypto exchanges and crypto brokers we’ve selected have great user interfaces that are easy to navigate. Also, they make finding essential features effortless, making the whole investment process smooth. Design, speed, loading times, and crypto trading software interfaces should be one of the main things to look at before signing up.
Cryptocurrency Broker Mobile App
Established brokers will have smartphone apps with the same features as a desktop. Therefore, you can easily trade Bitcoin and other cryptocurrencies, stake, and manage your money from anywhere as long as you have an internet connection. Below you’ll find the best brokers that are compatible with mobile.
Geographical Availability for Cryptocurrency Trading
Cryptocurrency brokers can vary in their accessibility globally due to regulations and laws. These are the best brokers to use in other countries
Best cryptocurrency broker in Australia: eToro
Best cryptocurrency broker in South Africa: eToro
Best cryptocurrency broker in the UK: Coinbase
Best cryptocurrency broker in the USA: Coinbase
Best cryptocurrency broker in Canada: Coinbase
Best cryptocurrency broker in the Netherlands: eToro
Best cryptocurrency broker in Romania:eToro
Best cryptocurrency broker in Switzerland: Binance
Best cryptocurrency broker in Austria: Kraken
Best cryptocurrency broker in Turkey: Crypto.com
Best cryptocurrency broker in Europe: eToro
Best cryptocurrency broker in Kenya: Eightcap
Cryptocurrency Broker Liquidity
Liquidity in basic terms is the ease of converting your coins into fiat currency or cryptocurrency. If the platform doesn’t provide enough liquidity, you can buy a coin and be unable to sell it. With a Bitcoin broker or other crypto brokers, liquidity isn’t an issue as they offer derivative products. Whereas, with a crypto exchange, it matters since they use an order book system, which relies on providing users with liquidity.
Regulation on Trading Cryptocurrency in the UK
Cryptocurrency brokers operating within the United Kingdom must legally register with the Financial Conduct Authority (FCA). They are responsible for consumer protection, market integrity, and fair competition.
Broker Security, Safety, and Reputation
Your main concern when looking at Bitcoin broker or general cryptocurrency brokers are their security and safety features. This information is usually displayed in the FAQ section, which highlights what technologies they use. The main security features a broker should provide are 2-step authentication, cold storage, SSL encryption, and real-time monitoring.
Moreover, a broker's reputation matters greatly since it can indicate if the platform is trustworthy. For example, Robinhood restricted transactions for GME after its huge rise. Many believe this was unfair, and the broker’s reputation took a significant nose dive, resulting in 1 star briefly on the Google Play store.
How do I know a cryptocurrency broker is secure and is not a scam?
A clear way to know if a Bitcoin broker is untrustworthy are:
Anonymous founders of the broker
Low stars and bad reviews left by victims
Customer service is important as you never know when you’ll need help. All brokers have email support where you can send a message and receive a reply within 1 to 5 business days. However, the best type of customer support is through 24/7 live chat, as you can get answers to your inquiry within minutes. Also, if you want personal assistance, some trading platforms offer a helpline you can call.
Automation Tools and Crypto Trading Bots
Cryptocurrency bots are software that will trade Bitcoin and other crypto assets on your behalf. They have a few advantages over humans, like placing multiple orders simultaneously, instant reactions to market movement, and the ability to trade 24/7. Binance and KuCoin are a few of the top trading platforms that offer bots as part of their services. You can see the parameters and the ROI from its starting date, making it easier to decide if you want to use it.
Is cryptocurrency trading risky?
Cryptocurrencies are one of the riskiest assets to trade because their prices are extremely volatile. It’s recommended to have a strategy before investing and stick to it, as many beginners see the volatility and panic sell at huge losses. HODLing is ideal for beginner traders since it only requires buying coins and holding until the value increases.
How to Buy Cryptocurrency Without a Broker?
Using a cryptocurrency exchange or crypto robot service, you can purchase cryptocurrencies without a broker.
Cryptocurrency exchanges act as an intermediary between traders and facilitate orders. Unlike brokers that issue CFDs, crypto exchanges will sell Bitcoin and other cryptocurrencies you can withdraw, stake, and spend. In most cases, crypto exchanges are favored over brokers since you can have ownership over your cryptocurrencies. Some crypto exchange examples are Binance, Coinbase, and Kraken.
Cryptocurrency robots are programmed to make trades on behalf of the investor. This gives them a few advantages, like trading non-stop and setting up multiple positions simultaneously. When using a robot for the first time, you’ll have to set up the perimeters (the robot’s settings) or use one of the given presets.