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- 1. Compare the best Tron platforms, exchanges & apps in 2023
- 2. Best Tron brokers overall for 2023
- 3. What are the best Tron trading platforms?
- 4. Top 7 Tron brokers, reviewed
- 5. What is a Tron broker?
- 6. The best Tron trading platforms for beginners, traders, and long-term buyers
- 7. What should I look for in an online trading platform?
- 8. Quick answers to key questions
- 9. Should I use brokers to buy and sell Tron?
- 10. FAQs
Compare the best Tron platforms, exchanges & apps in 2023
Best Tron brokers overall for 2023Copy link to section
What are the best Tron trading platforms?Copy link to section
If you just want to pick a broker and get started with Tron, then the options below are the best of the best. Our team has been through all the leading Tron trading platforms and pulled the best ones into this easy-to-understand comparison table. If you want to learn more first about how to choose between them, scroll down to keep reading.
77% of retail CFD accounts lose money.
Top 7 Tron brokers, reviewedCopy link to section
1. eToro. Best for beginners, copy-trading & demo-account
Pros & Cons
We love eToro because it makes it simple to trade crypto at home or on the go. If you’ve never bought cryptocurrency before, then eToro makes it simple to buy 75+ of the leading coins, including the likes of Bitcoin, Ethereum, and Dogecoin. Every crypto trade comes with a flat 1% fee, which makes it one of the cheapest crypto brokers on the market to boot.
As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the crypto market every day, browse the latest technical analysis about every one of those tokens, and copy other people’s trade suggestions from your desktop or the eToro app.
The fees: You will be charged a 1% fee every time you buy or sell crypto. The charge is included in the market price that’s displayed on eToro. CFD trades may be charged an overnight or weekend fee if you leave the position open.
77% of retail CFD accounts lose money.
2. OKX. Best for futures and margin trading
Pros & Cons
We love OKX because it’s an adaptable and flexible exchange, with an app that’s available in three different versions depending on how you trade. Choose from the beginner-friendly Lite version, Web3 option for NFT traders, or the Pro version for a plethora of trading tools.
From an app or desktop you can trade 350+ crypto coins on one of the world’s top crypto exchanges. You can fund your account easily, through a variety of simple payment methods, and a sliding scale of fees that means you can access discounts by holding the OKB token or trading high volumes.
The fees: Regular users pay a 0.1% fee on spot crypto trades. OKB crypto holders are entitled to a discount, up to 0.02% off for holding more than 2,000 coins. High volume traders are also entitled to a discount, with the cheapest fees available for traders with a 30 day trading volume above $10,000,000,000.
3. Nexo. Best for earning interest & rewards
Pros & Cons
We love Nexo because you earn rewards every time you make a purchase. You can trade 60+ cryptocurrencies and earn rewards of up to 0.5% on every transaction, then store your coins on Nexo to build your wealth through passive interest payments.
You can trade on the go from a mobile app and Nexo is designed for simplicity. Every trade is locked in at the rate you see on your screen, so you won’t suffer from price slippage, and it has the added bonus that any crypto held in your account automatically starts to earn interest.
The fees: Nexo charges a 2% spread on buy and sell transactions. There are no fees for storing coins in your Nexo account. Depending on your loyalty tier, you receive a fixed number of free withdrawals, and any additional withdrawals will be charged a network fee.
4. KuCoin. Best social trading altcoin exchange
Pros & Cons
We love KuCoin because it;s a great place for beginners to trade more than 700 altcoins. KuCoin is a social trading platform with 20+ million investors worldwide in 200+ countries.
KuCoin’s beginner zone offers up rewards up to $500 for new users. The rest of the platform has plenty of features for the crypto enthusiast: a staking service to earn money on your stored crypto, an NFT marketplace, and margin trading features to buy leveraged tokens.
The fees: Trading fees are charged on a sliding scale. Fees are 0.1% on trading volumes below 50 BTC in a 30 day period. Discounts are available if you pay fees in KCS or store more than 1000 KCS in your account.
What is a Tron broker?Copy link to section
A website that acts as a middleman so that you can deposit money and use that to get Tron coins. Generally, they come in two different varieties. Some brokers simply offer Tron at a fixed price, whereas others offer more complex interfaces, with constantly updating prices, that allow you to trade Tron in real-time.
How do brokerages work?Copy link to section
On a basic level, by matching up buyers and sellers. If someone wants Tron at a certain price, the broker will find another user who is willing to sell at that rate and facilitate the transaction. Sometimes it’s the broker itself, and other times it’s another individual using the platform.
The former category of brokers can be thought of as a sort of crypto bureau de change. They advertise fixed rates and let you make trades quickly and easily at that set price. These services typically allow for large transactions (e.g. over £50,000) so are popular for people making significant investments.
Other brokers that function more as open market trading platforms work differently. They allow users to use financial instruments called CFDs (contracts for difference) to trade Tron without having to own the coins or store them in a wallet. Trading with CFDs is popular as it allows for faster transactions and access to techniques such as leveraged trading.
What’s the difference between a broker and an exchange?Copy link to section
The primary difference is that exchanges work on a peer-to-peer basis. This means that exchanges are simply a marketplace with a constantly refreshing order book as people trade Tron between themselves. The activity on exchanges is what drives fluctuations in the price of Tron by facilitating the flow of supply and demand.
With a broker, on the other hand, you’re trading using the platform as a middleman and paying a slight premium for the extra convenience this offers. Cryptocurrency exchanges tend to be more complicated to use than brokers for this reason.
How do I use a Tron broker?Copy link to section
All you have to do is choose your preferred broker and check their Tron price. If you feel it’s reasonable, create an account, link your preferred method of payment, and simple execute the trade at the advertised rate.
If the platform you select also offers CFD trading, you’ll be able to fund your account and navigate to the trading interface on the website. From here you’ll be able to open and close positions quickly as the price fluctuates.
The best Tron trading platforms for beginners, traders, and long-term buyersCopy link to section
Exactly which platform will be best for you depends on your level of experience and your investment goals. Here is a quick list of the top brokers for each type of investor.
The top broker for beginnersCopy link to section
If you’re new to cryptocurrency, it’s best to select a broker that prioritises ease of use. This can mean you pay slightly more for your coins, but it also means it’s much harder to make any costly mistakes.
The top platform for day-tradersCopy link to section
For experienced traders looking to trade Tron CFDs, it’s essential to choose a broker that has a user-friendly trading interface and a track record of reliability for cryptocurrency trading.
77% of retail CFD accounts lose money.
The top app for long-term buyersCopy link to section
Some investors prefer to look to the long term. If you believe that Tron’s value is going to rise over time then it’s best to hold your coins in a reliable platform.
What should I look for in an online trading platform?Copy link to section
There are a variety of different factors to consider when choosing between the best sites. Some brokers may make the process seamless but charge high fees, whereas others may be more reasonably priced but provide access only to a small range of cryptocurrencies.
Design and ease of useCopy link to section
When trading TRX, you want the process to be as easy as possible. The best platforms serve as a help rather than a hindrance, so don’t settle for less.
PriceCopy link to section
It almost goes without saying (but is still worth reiterating) that if you want to find a platform that will give you a good price. Compare your options to find the best deal.
Payment chargesCopy link to section
Different platforms will support different methods of payment and charge different fees. Check that you can use your preferred payment method (e.g. PayPal or debit card) and that the broker doesn’t charge any high fees for doing so.
ReputationCopy link to section
You want to choose a reliable option that has a strong reputation for customer service. Check out our in-depth reviews and look for other user reviews online before registering.
Variety of coinsCopy link to section
Brokers will typically offer a range of different cryptocurrencies, but exactly which coins you can trade will depend on the platform you choose. Whether you’re looking for large-cap coins such as Bitcoin and Ethereum, or thinking about investing in DeFi coins such as Yearn Finance, check what cryptos are available before signing up.
Trading optionsCopy link to section
If you’re looking for a comprehensive trading platform, then you’ll want to ensure it offers the features you’re looking for. This could include leveraged CFD trading or the ability to short sell cryptocurrencies. These techniques are risky, however, and we only recommend experienced traders undertake them.
Quick answers to key questionsCopy link to section
Do brokers charge commissions or fees for buying Tron?Copy link to section
Yes, each broker chargers some kind of fees or commissions. However, with most bureau de change-type brokers, these fees are already included in the price displayed on the trading platform.
If you’re using CFDs, there will likely be small commissions charged for each trade. It is important to check the level of these as even small fees can add up when trading frequently.
Do I have to verify my identity with a Tron investment site?Copy link to section
Yes, in order to register you will need to provide some level of identification. Exactly what you need to provide will depend on the platform, but it’s common to have to provide an image of a photo ID card before you can do anything.
Can I buy multiple cryptocurrencies through a broker?Copy link to section
Yes, cryptocurrency brokers allow for the trading of multiple coins. Some of the more basic platforms will allow you to trade around 4 or 5 coins, with more comprehensive brokers supporting 100s or even 1000s of different coins.
Do I need a wallet to use a Tron trading platform?Copy link to section
No, not usually. Your coins are usually stored in your account. If you’re planning to hold Tron for the long term then you might want to consider getting a personal wallet to keep your coins secure. Two of the most popular wallets around today are Freewallet and the Ledger Nano S.
Should I use brokers to buy and sell Tron?Copy link to section
It depends on your investment goals. Brokers represent a beginner-friendly way to get started, but this convenience comes with a mark up in price. CFD trading platforms are useful for day traders, but some people prefer the physical ownership of coins you get on an exchange.
Still undecided?Copy link to section
If you’re still not sure which way to go, then take some time to consider the following pros and cons. These, combined with the information below will help you figure out whether a broker is right for you.
ProsCopy link to section
- Brokers are a simple way to get started
- CFD trading allows you to make lots of moves quickly
- Brokers are more user-friendly than cryptocurrency exchanges
- Some allow for leveraged trading
- Generally have good levels of customer service
Should I buy Tron now?Copy link to section
The answer to this question depends on both your trading strategy and opinion on what Tron’s outlook is for the long term. If you believe in the project and think the price of TRX will rise over time, then it’s a good idea to sign up to a broker so that you can hold for the long term.
If your interest is more in becoming a day trader and making frequent trades with Tron as the market fluctuates, then the long term strength of the project is less important than your ability to read charts and spot patterns. To become an effective CFD trader it pays to learn the tricks of technical analysis.
Whichever strategy you choose, it’s always a good idea to keep on top of all the latest news and analysis. Read our most recent features here to figure out if now is the right time to invest in Tron.
Where can I learn more about Tron?Copy link to section
You can learn more about Tron right here on Invezz. Taking our Tron 101 course will familiarise you with the basics of the cryptocurrency and leave you in a better position to assess its value.
FAQsCopy link to section
Yes, you do. This is because cryptocurrencies are classed as an asset in the UK and are therefore subject to capital gains tax. This will be somewhere between 10% and 20% of any amount over £11,700 across the course of a year (depending on your income). In other countries this varies, so be sure to check the law where you are.
No, in order to sign up you have to provide some form of identification. This will vary depending on the broker, but usually, the verification process involves at least one piece of photo ID.
Peer-to-peer means exactly what it sounds like: two people trading directly between each other. Tron exchanges function as platforms that allow users to swap coins directly from each other
Sometimes yes, but it depends on your broker. If your chosen platform accepts PayPal as a withdrawal method, then you’ll be able to transfer funds directly to PayPal. Bear in mind PayPal only supports fiat currency, so you’ll have to sell your coins first.
Yes, cryptocurrency markets are active 24/7 and so you can place trades with at any time.
Sometimes, but this is a feature more commonly true of exchanges. Brokers by and large accepts fiat currency payments for cryptocurrencies such as Tron.
Yes, there is no reason you can’t have active accounts with more than one broker. Usually, for simplicity’s sake it’s more straightforward only to use one broker though. Find the broker that works best for you and stick with it.
Yes, in the UK. While this is also true for most other countries, it isn’t true for all so always check the law where you are before starting to trade.
Not all of them, no. However, all the top platforms are regulated to ensure their users are protected. Brokers that operate in the UK are regulated by the Financial Conduct Authority (FCA).
Yes, usually brokers can hold your Tron and other cryptocurrencies for you within your brokerage account.
Yes, by navigating to the relevant part of your dashboard you can access your full trading history.
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >