Compare the best Tron brokers
What are the best Tron investment platforms?
If you’re wondering where to invest in Tron, the brokers below are all great options. Our team has reviewed all of the best sites to buy Tron and compiled them into this easy-to-understand comparison table. If you’re ready to start trading Tron, click one of the links below; if not, scroll down and keep reading.
What is a Tron broker?
A Tron broker is a site that serves as a middleman for buying and selling Tron. They are also known as Tron trading platforms and Tron investment sites, and they come in two different varieties. Some brokers simply allow you to buy and sell Tron at a fixed price, whereas others offer more complex trading interfaces that allow you to trade Tron in real time.
How do brokerages work?
On a basic level, Tron brokerages work by matching up buyers and sellers. If someone is looking to buy TRX at a certain price, the broker will find another user who is willing to sell at that rate and facilitate the transaction. Sometimes the buyer/seller is the broker itself, and other times its 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 at which they will buy and sell Tron, enabling you to make trades quickly and easily at a 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 Tron broker and an exchange?
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 Tron 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 TRX brokers for this reason.
How do I use a Tron broker?
Using a Tron investment platform is simple. All you have to do is choose your preferred broker and check the price at which they’re currently buying and selling Tron. If you feel it’s reasonable, create an account, link your preferred method of payment, and buy TRX at the advertised rate.
If the Tron trading 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 of TRX fluctuates.
The best Tron trading platforms for beginners, traders, and long-term buyers
Exactly which Tron investing platform will be best for you depends on your level of cryptocurrency experience and your investment goals. Here is a quick list of the top Tron brokers for each type of investor.
The top broker for beginners
If you’re new to investing in Tron, or to cryptocurrency in general, it’s best to select a brokerage 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-traders
For experienced crypto 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.
The top app for long-term buyers
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 buy and hold your coins with a reliable Tron investment platform.
What should I look for in a trading platform?
There are a variety of different factors to consider when choosing between the best Tron investment sites. Some brokers may make the buying 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 use
When trading TRX with a broker, you want the process to be as easy as possible. The best Tron brokers serve as a help rather than a hindrance when buying and selling cryptocurrency, so don’t settle for less.
It almost goes without saying (but is still worth reiterating) that if you’re looking to buy Tron then you want to find an investment platform that will give you a good price. Compare your options to find the best deal.
Different Tron trading platforms will support different methods of payment and charge different fees when buying and selling Tron. 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.
You want the investment platform you’re using to be reliable and have a strong reputation for customer service. Check out our in-depth reviews and look for other user reviews online before registering for an online Tron broker.
Variety of coins
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.
If rather than simply buying and holding Tron for the long term, you’re looking for a comprehensive Tron 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 questions
Do brokers charge commissions or fees for buying Tron?
Yes, there are fees and commissions applied by brokers when buying or selling Tron. However, with most bureau de change-type brokers, these fees are already included in the price displayed on the trading platform.
If you’re trading Tron 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?
Yes, in order to register with a Tron broker 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 start trading Tron.
Can I buy multiple cryptocurrencies through a broker?
Yes, cryptocurrency brokers allow for the trading of multiple coins. Some of the more basic trading 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?
No, not usually. When trading Tron with a broker your coins are usually stored in your account. If you’re buying and holding 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?
Whether a broker is the best Tron investment site for you to use depends on your investment goals. Brokers represent a beginner-friendly way to buy Tron, but this convenience comes with a markup in price. Additionally Tron CFD trading platforms are useful for day traders, but some people prefer the physical ownership of coins you get on an exchange.
If you’re still not sure whether you want to use a broker to invest in Tron, then take some time to consider the following pros and cons. These, combined with the information below will help you figure out whether a Tron trading platform is right for you.
- Brokers are a beginner-friendly way to buy Tron
- CFD trading allows you to buy and sell Tron quickly
- More user-friendly than cryptocurrency exchanges
- Some Tron trading platforms allow for leveraged trading
- Generally have good levels of customer service
- Not all brokers are regulated
- Trading with leverage comes at increased risk
- Some brokers charge high fees
Should I buy Tron now?
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 and buy some Tron to 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.
Monero, Waves, Tron price analysis roundup
TRON (TRX) remains in a bear market despite ongoing election uncertainty
TRON (TRX) price struggling at $0.030 resistance
Where can I learn more about Tron?
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 when trading using a Tron investment platform.
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 to a Tron investing site 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 buy and sell Tron (and other cryptocurrencies) directly from each other
Sometimes yes, but it depends on your broker. If your chosen Tron trading 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 a Tron broker 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 Tron trading platforms are legal. 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 Tron trading 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 online Tron broker’s dashboard you can access your full trading history.
- 1. Compare the best Tron brokers
- 2. What are the best Tron investment platforms?
- 3. What is a Tron broker?
- 4. The best Tron trading platforms for beginners, traders, and long-term buyers
- 5. What should I look for in a trading platform?
- 6. Quick answers to key questions
- 7. Should I use brokers to buy and sell Tron?
- 8. FAQs