Many traders are unaware that they can trade in the currency markets using the Cryptocurrency exchanges like Bitrex, Gemini and Trade Waves. These are among the most popular and heavily used trading platforms on the Internet today. However, there is a growing movement within the trading community to remove brokers from the equation completely. Why is this trend needed? Why are the traders and investors making this request?
There are many reasons that this movement is needed. First of all, we have to look at the high number of losses and poor performances by the major bitcoin brokers in the past few years. Many traders have given up on the platform because they either couldn't make trades or the trades weren't reliable. This caused a significant drop in the trading volume, which in turn resulted in some pretty heavy losses for some traders. It is these kinds of losses that make people want to remove brokers from the equation all together.
So, what makes the best bitcoin brokers in the market today? To answer that question we need to take a look at the platform itself. There are a number of features that are available on the best platforms that allow the users the ability to trade with confidence. Features like stop losses and leverage are essential for any decent trader. Without them, the entire process becomes too risky for the average investor.
Before you decide on a particular trading platform, though you should use the comparison table provided by each one. This is where you will see the differences between each of the top ten best bitcoin brokers. By looking at the table you can get a good idea of how each one can best serve your needs.
Most of the top platforms all offer a trading platform with a minimum deposit of $100. Some of them offer two different levels of minimum deposit, but all provide trading floors that are both reliable and easy to access. Most allow the use of leverage, which is necessary for day trading. This is because you need more than one buyer and a single seller to make it successful. These trading platforms also all have secure trading floors and do not allow margin accounts. This is because the trading floor is where all of your money is kept.
The next feature to check is the variety of currency pairs that a broker trading platform can trade. While some brokers are exclusive to one or two major currencies, there are others that will serve all of the major ones. You will also want to consider the types of transactions that are available as well. Many of the current transactions are done through wire transfers which take a matter of days rather than weeks.
After looking at the features of each platform you can then start to do your comparison table to see which one works the best for you. For example, if you trade bitcoin you will need to ensure that the broker is a regulated one. You can find this out by going to regulation sites on the website and you will also find details on who in the industry they are connected with. If it's a reputable group then they will probably be a member of the association and will be regulated by one of the bodies.
When comparing these options, you will also want to compare the experience that they offer. This is vital because you need someone who can give you advice on when to trade. You will also learn technical analysis through their trading platform. This is essential if you want to effectively invest your money and minimize any risk of loss. The key things to consider are the price movements of each of these assets. If you have an efficient broker then you will have a greater chance of making good decisions when it comes to when to buy and sell and how much to pay.