Compare the best cryptocurrency brokers in 2023

Start your crypto trading journey with the crypto brokers our expert panel rate as the best in the business. We asked a team of trading experts, with decades of cryptocurrency experience between them, to test the top trading platforms and rate which ones came out on top.

This beginner-friendly guide breaks down the results to show you which platforms came top of the class in the UK and explains how your trading style affect which is the best broker for you.

Top cryptocurrency brokers overall for 2023

1. eToro: Best for beginners, copy-trading & demo-account
2. Public: Best for sharing beginner trading ideas
3. Bitstamp: Best for professionals & trading with APIs
4. Uphold: Best for building long term wealth
5. KuCoin: Best social trading altcoin exchange
6. Nexo: Best for earning interest & rewards
7. Oanda
8. YouHodler: Best for staking & earning crypto
9. Capitality: Best for trading like a pro

What are the best crypto brokers?

Our experts ranked these brokers as the best places to trade crypto today. Sign up by following one of the links in the table or keep reading to find out more about each platform and why we rated it so highly.

Top 11 crypto brokers, reviewed

The top crypto brokers for your needs

What is the top cryptocurrency broker for beginners in the UK?

eToro is the best beginner-friendly platform for trading cryptocurrency. When you’re just starting out, you want to prioritise ease of use and get plenty of guidance. With eToro’s CopyTrader feature you can access both, and it boasts cheap trading fees as well.

What is the top crypto trading platform for UK day-traders?

BitPanda is our expert pick as the best broker for crypto day trading. For those looking to make frequent moves, it’s essential to register for a broker that offers low trading fees and a variety of charting and analysis tools. BitPanda offers both, which makes it a great place to start your trading journey.

What is the top cryptocurrency broker for long term investors?

Coinbase offers the best combination of investing platform and secure storage. You can use the Coinbase trading platform to buy and sell crypto, then keep your digital currencies safe in the Coinbase Wallet.

What is the best platform to buy NFTs?

The best place to buy and sell NFTs is OpenSea. OpenSea is like an online art auction house, where you can bid for NFTs and trade them with other users. Very few traditional ‘brokers’ offer NFTs at the moment, although Coinbase has a nascent NFT marketplace.

What is the best place to buy Altcoins?

Coinbase has the best range of coins on offer, so it should be your first port of call to buy altcoins. Many brokers only list a limited number of digital currencies, so take advantage of the fact that Coinbase offers hundreds of them.

Read more: the best altcoin brokers

What is the best broker to buy DeFi coins?

The leading decentralised finance (DeFi) coins are all available on eToro. DeFi coins have become some of the most popular cryptocurrencies on the market, and eToro has always been quick to add the best coins to their list of digital assets for sale. You can buy them on eToro very easily, and with low fees.

Read more: the best DeFi trading platforms

What is the best broker for staking coins?

eToro is the best bet for staking your coins without having to think much about it. You simply buy and store your coins on eToro and earn interest on coins once you pass the qualifying period – usually about ten days. Just note that you may be better off financially if you use a dedicated staking platform, as opposed to a broker, as less of your money is lost in fees.

Read more: the best staking platforms

What’s the best crypto broker for spread betting?

It is hard to find cryptocurrency brokers that let you spread bet. The best option is normally to trade crypto instead, as it’s more widely accessible to retail traders. eToro is our top ranked broker for crypto trading.

Read more: the best cryptocurrency spread betting brokers

What is a cryptocurrency broker?

A crypto broker is an online trading platform that functions as a middleman for buying and selling cryptocurrencies. There are two different varieties of crypto broker: simple platforms that offer coins at set prices, and more complex interfaces that allow you to trade a wide variety of cryptocurrencies in real time.

How does a crypto broker work?

On the most basic level, Bitcoin brokers work by matching up buyers and sellers in order to execute trades. Sometimes the broker itself is on the other end of the deal, and sometimes the broker merely facilitates trades between other users in an open marketplace.

Like a bureau de change at an airport, most of the time the broker sets rates for each coin and allows you to exchange at this price instantly. The broker will apply fees for this convenience, but these platforms are often the best bet whether you want to trade crypto by buying and selling coins rapidly, or you want to own a large number of coins or tokens – say more than £50,000 worth.

What’s the difference between a crypto broker and an exchange?

The main point of distinction between crypto brokers and exchanges is that the latter work on a peer-to-peer basis. That means that while brokers position themselves as a middleman for transactions and charge trading fees for doing so, crypto exchanges are more open platforms that set prices with a constantly updating order book.

On an exchange, thousands of users trade with each other directly in real time, trading coins in currency pairs (e.g. BTC/ETH) at rates governed by the supply and demand of other users on the platform. It is this activity on crypto exchanges that helps set the price of different digital currencies.

How do I use a Bitcoin broker?

Using Bitcoin brokers is a straightforward and easy process. You simply need to sign up, make a deposit, and then you can get the coins you’re interested in at the price given by the platform. 

If your chosen broker is also a trading platform, then to start making trades as the market fluctuates you simply need to head to the trading interface of their website or app. From here you will be able to see all the relevant crypto price charts and start to trade cryptocurrencies right away.

What should I look for in a crypto broker?

There are a number of different factors to consider when choosing an online broker, from how intuitive the platform is to use, to more trading-related concerns such as how many coins you can trade and the fees involved for doing so. Here’s a quick summary of all the key considerations when using an online platform.

Design and ease of use

It’s always best to ensure you find a platform easy to navigate before using it to place trades. The point of using a broker is to make the trading process simpler, so don’t settle for a platform that makes it confusing.

Access to a demo account

Many online brokers offer the option to trade with virtual money so that you can practice. Demo accounts are hugely useful if you have never traded digital currencies before. You can trade Bitcoin and Ethereum without risking any money just by flipping a switch in the settings, and we recommend it as a starting point. This option is available to all retail investor accounts.

Price

You don’t want to pay too much above the market rate. Generally with brokers there will be trading fees and commissions included in the quoted price on the website, so compare different brokers and make sure you’re getting a good deal.

Payment charges

Different online brokers will accept different methods of payment – and charge a range of fees for doing so. It’s common to find debit card payments accepted across most crypto broker platforms, but if you’re looking to pay for your coins using other methods such as credit cards or online wallets like PayPal there can be fees applied.

Regulation

The best brokers are regulated or approved by the Financial Conduct Authority (FCA). When you choose a broker, look for platforms that are registered with the FCA, as that means you benefit from investor protection, like compensation schemes in case the broker goes bust.

The Financial Conduct Authority is the financial regulator in the UK and its attitude towards digital currency is still evolving. Most brokers are regulated in some form right now, but the rules on which platforms meet the regulations might change in the future. It’s a good idea to keep tabs on what the FCA says about digital assets so that you know where you stand and how you are protected.

Reputation

Whenever you’re trusting an online platform or app with your money, you want to be sure the service is reliable. To compare cryptocurrency brokers it’s best to have a look through various user review sites, and also to check out in-depth reviews of each brokerage.

Variety of coins

It’s no use finding a platform that you like if it doesn’t allow you to trade the specific coins you’re looking for. Every broker will let you buy Bitcoin, but not all will support less frequently traded cryptos such as Theta and Algorand.

Payment methods

When you create an account you need to deposit some money into it at the same time. Most brokers accept common payment methods, like bank transfers and debit cards. However, other payment methods may not always be accepted. If you want to use PayPal or a similar online payment provider, it’s important to check the broker accepts it before you sign up.

Trading options

If you’re looking to trade cryptocurrencies, rather than holding coins for the long term, then make sure the cryptocurrency broker you’re using has the capabilities you’re looking for. This could involve being able to trade cryptocurrency with leverage or to sell different coins short. Techniques like this come with increased risk and we only recommend experienced traders undertake them.

Quick answers to key questions

Do cryptocurrency brokers charge commissions or fees for buying cryptocurrency?

Yes, even the best cryptocurrency brokers charge some sort of trading fee or commission. However, these vary between platforms and might appear in different ways. For instance, a broker might advertise that it charges ‘zero fees,’ but if you look at the price they’re quoting for a coin you’ll realise that it’s above market rate. 

This is because the fees are incorporated into the price, so you won’t pay any extra fees but there is still a commission being applied. Other platforms charge a certain amount per trade; 1-2% of the total trade value is most common.

Do I have to verify my identity with a cryptocurrency broker?

Yes, you will have to provide evidence of your identity. The top brokers are regulated and as such need users to prove their identity to comply with KYC (Know Your Customer) guidelines. Usually at least one form of photo ID is required, which can be your British passport or a UK driving licence.

Can I buy multiple cryptocurrencies through a broker?

Yes, pretty much every broker will offer a range of coins. The amount on offer varies from 10-15 on the most basic broker, to thousands on the biggest and most advanced platforms. On almost every broker you can expect to find the likes of Bitcoin, Ethereum, Avalanche, Binance Coin, Cardano, Dogecoin, Solana, Tether, and XRP. 

If you’re looking for altcoins, then you need to find a more advanced trading platform, or a  top crypto exchange. There you can find more obscure coins, like Aave, ApeCoin, Axie Infinity, Bitcoin Cash, Chiliz, Litecoin, Monero, Stellar, Zcash, and many hundreds of others.

Do I need a wallet to use a crypto broker?

No, not usually. It can however be a good idea to get one if investing for the long term. Cryptocurrency trading platforms will typically allow you to hold your coins in your online account or app. This can be convenient for people looking to trade coins frequently, but long term investors might want to consider a secure hardware wallet, such as the Ledger Nano S.

Do the best cryptocurrency brokers have mobile apps?

Yes, almost every leading broker has its own crypto trading app that you can access on iOS and Android devices. You may want to test out the app by downloading it before you sign up to a broker, particularly if you plan on trading a lot from your phone. Apps should provide a seamless trading experience that’s just as good as using a web browser; if an app doesn’t offer that, you might want to look elsewhere.

Can I trade cryptocurrency CFDs with an online broker?

Not in the UK, no. Crypto derivatives are banned in the United Kingdom and so trading CFDs is not allowed. Luckily there are some brokers that allow you to buy and sell the underlying asset, which is permitted. eToro is a good example of a broker that offers crypto trading where you trade the underlying digital currency, rather than crypto CFDs.

Should I use brokers to buy and sell cryptocurrency?

The answer to this question depends on your investment goals. Any of our top 10 cryptocurrency brokers offer beginner-friendly, but you need to be aware that the convenience provided by brokers comes with additional fees.

The number of cryptocurrencies available on a broker can be limited compared to other investing platforms, like a crypto exchange. A broker is a great option for the most popular coins, so you can buy Bitcoin and Ethereum very easily, but it might not be the best choice if you want to trade the latest altcoin trends.

You need to balance your desire for convenience and ease-of-use with cost and the range of trading options. A broker is best for beginners and for low trading fees but for the best coin prices or the widest range of coins, you might want to look elsewhere.

Still undecided?

Before investing in cryptocurrency it’s important to weigh up the key pros and cons. Below are some of the main benefits and drawbacks of trading cryptocurrencies through a broker, along with some additional questions to consider and FAQs at the bottom of the page.

Should I buy cryptocurrency now?

If you believe that a particular cryptocurrency is going to perform well and rise in value in the long term, then it’s a good idea to sign up to a broker and hold your coins while the uptrend in price hopefully materialises.

But long term trends aren’t the most important thing for every trading strategy. If your interest is more in becoming a crypto day trader, then it’s more important for you to master the art of analysing cryptocurrency charts and other aspects of technical analysis. Rather than looking into how a coin will perform over months and years, you need to be able to predict how it will perform over days, hours, or even minutes and make trades accordingly.

Whatever the approach you take, one thing that is always essential is to keep up to date with the hottest cryptocurrency news. You can read the most recent features from our experts right here to help you time your trades and work out if now is the right time to invest.

Where can I learn more about cryptocurrency?

You can access a whole host of cryptocurrency courses right here on Invezz. Whether you want to learn the basics of Bitcoin, educate yourself on Ethereum, or teach yourself about Tron, our guides will help you get all the knowledge you need before starting to trade.  

Methodology: How we chose the best cryptocurrency brokers

We asked our team of cryptocurrency experts to test the best trading platforms and come up with a ranking of the best cryptocurrency brokers available in the UK today. 

All the experts were required to perform a series of tests and assess each broker according to a set of criteria, such as how easy it is to register an account, make a deposit, and place a crypto trade. 

Armed with all the expert rankings, we pooled them together to create a final ranking for the best overall crypto broker platforms. While no platform influenced their score, we may be paid a commission if you sign up to a broker by following a link from this page.

FAQs