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UK Crypto Brokers

Cryptocurrencies have been with us for more than a decade, and their popularity has grown enormously over that period. To invest in this phenomenon, however, a trader needs to have either a broker or a crypto exchange as a business partner.

Trading cryptocurrencies is an exciting phenomenon that has overtaken the investment community in recent years. Crypto assets tend to be very volatile, implying a high degree of risk, but there are ways to profit from this market. Choosing a broker is the first step and making a comparison of features for your final decision is highly advised. We have a tool for performing this comparison. Choosing a qualified and reputable crypto broker in the UK can at first appear to be an overwhelming task, but we are here to assist you in that effort. We have reviewed the crypto landscape and produced a list of the best crypto brokers in the UK for your consideration. 

Depending upon your individual needs as an investor or trader, one of these top-ranked entities can surely provide the level of performance that you expect in this new market experience. So, whether you need help with opening an account in the UK or you want to learn more about key information such as crypto broker fees, our guide is here to help you. Use it wisely and enjoy your crypto journey.

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Crypto Brokers Uk

Tickmill Review
3.3
Pros
  • Low-cost and super-fast trading
  • Lots of third-party trading signal services
  • Strong regulatory framework
  • Gets the most out of the MetaTrader platforms
Cons
  • A relatively limited number of markets
  • It doesn’t accept clients from the USA
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Low-cost and super-fast trading
  • Lots of third-party trading signal services
  • Strong regulatory framework
  • Gets the most out of the MetaTrader platforms
Cons
  • A relatively limited number of markets
  • It doesn’t accept clients from the USA
Read Full Review

Risk Warning: Trading financial products on margin carries a high degree of risk and is not suitable for all investors. Losses can exceed the initial investment. Please ensure you fully understand the risks and take appropriate care to manage your risk.

4.2
Pros
  • An experienced broker with offices in 11 countries and complies with seven regulatory agencies
  • Over 1,000+ tradable instruments in portfolio
  • MT4 and proprietary trading platforms
  • Excellent award-winning training materials and a YouTube channel for beginners

 

Cons
  • Professional spreads are competitive, but retail spreads could be better
  • Inactivity fees apply
  • Research could be improved

 

 

Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • An experienced broker with offices in 11 countries and complies with seven regulatory agencies
  • Over 1,000+ tradable instruments in portfolio
  • MT4 and proprietary trading platforms
  • Excellent award-winning training materials and a YouTube channel for beginners

 

Cons
  • Professional spreads are competitive, but retail spreads could be better
  • Inactivity fees apply
  • Research could be improved

 

 

Take Me Broker Read Full Review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

4.6
Pros
  • High levels of regulatory compliance and customer protection
  • Excellent customer support
  • Huge range of high-quality learning and research resources
Cons
  • Relatively few advanced trading courses offered
  • Limited social and copy-trading features
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • High levels of regulatory compliance and customer protection
  • Excellent customer support
  • Huge range of high-quality learning and research resources
Cons
  • Relatively few advanced trading courses offered
  • Limited social and copy-trading features
Take Me Broker Read Full Review

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

4.6
Pros
  • Market leading trading commissions
  • Excellent market flow and trading speeds
  • Very strong in forex markets
  • Various methods of automated trading are possible
Cons
  • Limited range of non-forex products
  • Mobile trading app could be improved
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Market leading trading commissions
  • Excellent market flow and trading speeds
  • Very strong in forex markets
  • Various methods of automated trading are possible
Cons
  • Limited range of non-forex products
  • Mobile trading app could be improved
Take Me Broker Read Full Review

Etoro Broker Review
4.2
Pros
  • Easy to use web interface
  • Innovative social trading feature
  • Competitive fee structure
  • Ease of onboarding
  • Investment as well as trading functionality

 

Cons
  • No phone-based customer support
  • A limited number of high-end charting tools

 

Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Easy to use web interface
  • Innovative social trading feature
  • Competitive fee structure
  • Ease of onboarding
  • Investment as well as trading functionality

 

Cons
  • No phone-based customer support
  • A limited number of high-end charting tools

 

Read Full Review

4.6
Pros
  • Knowledgeable and responsive customer support
  • Tight spreads
  • Low deposit requirements
  • Good sign up bonus and other promotions
Cons
  • Limited deposit and withdrawal options
  • Customer support not 24/7
  • Regulatory framework not the strongest
  • Limited range of instruments and markets
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Knowledgeable and responsive customer support
  • Tight spreads
  • Low deposit requirements
  • Good sign up bonus and other promotions
Cons
  • Limited deposit and withdrawal options
  • Customer support not 24/7
  • Regulatory framework not the strongest
  • Limited range of instruments and markets
Take Me Broker Read Full Review

4.6
Pros
  • Transparent and competitive pricing
  • 25 Crypto markets to choose from
  • Platform functionality and ease of trade execution
  • Great customer support
  • User friendly feel
Cons
  • Limited range of markets and instruments
  • Basic range of research materials

 

 

Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Transparent and competitive pricing
  • 25 Crypto markets to choose from
  • Platform functionality and ease of trade execution
  • Great customer support
  • User friendly feel
Cons
  • Limited range of markets and instruments
  • Basic range of research materials

 

 

Take Me Broker Read Full Review

3.9
Pros
  • Major focus on social and copy trading with community of one million clients
  • More than 1,000 tradable asset choices
  • Professional trading tools and multiple funding methods
  • BaFin/CySEC regulatory oversight of German-based firm on Frankfurt Stock Exchange

 

Cons
  • Spreads and fees could be more competitive at basic retail levels
  • Withdrawal fee of $5 with complicated process
  • Does not offer service to residents of UK (terminated December 2021), US or Canada

 

 

Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Major focus on social and copy trading with community of one million clients
  • More than 1,000 tradable asset choices
  • Professional trading tools and multiple funding methods
  • BaFin/CySEC regulatory oversight of German-based firm on Frankfurt Stock Exchange

 

Cons
  • Spreads and fees could be more competitive at basic retail levels
  • Withdrawal fee of $5 with complicated process
  • Does not offer service to residents of UK (terminated December 2021), US or Canada

 

 

Take Me Broker Read Full Review

RISK WARNING: Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading derivatives with this provider. You should consider whether you understand how derivatives work and whether you can afford to take the high risk of losing your money.

4.1
Pros
  • Heavily regulated, safe and secure broker (FCA, CySEC, FSCA)
  • Competitive spreads in currency pairs – 0.6 pips EUR/USD
  • MT4 and user-friendly proprietary OvalX platform
  • Experienced staff, over two decades in the forex space

 

Cons
  • Limited copy trading offering – MT4 only via EAs
  • Research could be better
  • No US or Canada customers accepted at this time

 

Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Heavily regulated, safe and secure broker (FCA, CySEC, FSCA)
  • Competitive spreads in currency pairs – 0.6 pips EUR/USD
  • MT4 and user-friendly proprietary OvalX platform
  • Experienced staff, over two decades in the forex space

 

Cons
  • Limited copy trading offering – MT4 only via EAs
  • Research could be better
  • No US or Canada customers accepted at this time

 

Take Me Broker Read Full Review

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.2% of retail investor accounts lose money when spread betting or trading CFDs with OvalX. You should consider whether you understand how spread bets or CFDs work and whether you can afford to take the high risk of losing your money.

spreadex broker logo
4
Pros
  • Low fee/cost provider
  • Responsive customer service
  • A proprietary web-based platform is easy to use
  • Top-Tier regulation from the FCA
Cons
  • No MetaTrader platform products
  • No traditional trading in stocks, only CFDs
  • Only Professional clients can trade cryptocurrencies
  • Minimum support for beginners
Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Low fee/cost provider
  • Responsive customer service
  • A proprietary web-based platform is easy to use
  • Top-Tier regulation from the FCA
Cons
  • No MetaTrader platform products
  • No traditional trading in stocks, only CFDs
  • Only Professional clients can trade cryptocurrencies
  • Minimum support for beginners
Read Full Review

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can result in losses larger than your initial stake or deposit.

4.4
Pros
  • Direct access to raw spreads – low fee pricing overall
  • MetaTrader plus cTrader trading platforms
  • ASIC regulation plus CySEC and FSA in Seychelles and SCB in the Bahamas
  • Fast account opening process
Cons
  • No Negative Balance protection
  • Slow Live Chat service
  • No US citizens accepted

 

Fees
Rating
Platforms
Rating
Markets & Products
Rating
Read Full Review
Pros
  • Direct access to raw spreads – low fee pricing overall
  • MetaTrader plus cTrader trading platforms
  • ASIC regulation plus CySEC and FSA in Seychelles and SCB in the Bahamas
  • Fast account opening process
Cons
  • No Negative Balance protection
  • Slow Live Chat service
  • No US citizens accepted

 

Take Me Broker Read Full Review

Trading Derivatives carries a high level of risk to your capital, and you should only trade with money you can afford to lose. 75% of retail investor accounts lose money when trading CFDs with this provider. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.

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How do you buy bitcoin?

The safest way to buy bitcoin today is through an exchange or broker that will store your coins in what is called ‘cold storage’. This service is like an electronic wallet, which you can buy separately, but you do not need to worry about storing your address credentials, known as ‘private keys’. If you lose your ‘keys’, however, you will lose access to your crypto assets – ‘No keys, no coins’ is a common lament.

The steps to buy bitcoin are straightforward with most brokers:

  1. Sign up or register an account with the broker.
  2. Provide proof of identify in order for your account to be verified.
  3. Deposit funds – the minimum amount will vary from broker to broker. 
  4. Set up a crypto wallet. Some exchanges will require you to store your coins in a wallet, whereas others do not impose this. eToro, for example, features its own cryptocurrency wallet called eToro Money, which is available to download as an app. 
  5. When you are ready to trade, sign into your account and enter the amount of bitcoin you wish to purchase in UK pounds. 

Many global brokers today have chosen to offer an alternative method for trading crypto that involves the use of a derivative. With these brokers, investors and traders have chosen to trade in contracts for difference (CFDs) to avoid these ownership issues. A crypto CFD does not require ownership of the underlying crypto asset. CFDs are a wager between you and your broker over the direction that a specific asset or security might take in the future.

Can you trade crypto in UK?

Unfortunately, the Financial Conduct Authority (FCA) in the UK has banned the trading of crypto derivatives such as CFDs as of January 2021. In mid-2021, the FCA also banned Binance, the world’s largest crypto exchange, from operating in the UK in a crackdown on the crypto community due to high casualty rates and non-compliance with anti-money laundering (AML) statutes. 

Traditional buying and selling are not banned, but UK investors have been surveying offshore brokers as an alternative. Using an offshore broker can be a very risky proposition, unless you choose a reputable broker that is regulated by a major regulatory agency. Several brokers in the above list conduct operations across the globe, and in some cases may permit UK citizens to trade CFDs from an offshore account.

How to open a crypto account in the UK

Opening a crypto account in the UK is a straightforward process. Your chosen broker will list the AML and Know Your Customer (KYC) documentation, which must be submitted to verify your identity and address. Approval can occur quickly or in one to three days if there is a problem. At this stage, you might be wondering, what should I ask my crypto broker? 

Here are a few areas where you may want additional details:

  • You will want to practice trading before funding your account to become familiar with how the platform works and how to execute an order. 
  • Your broker will have several payment methods available but check with your bank for any additional fees before choosing. 
  • Check what fees are charged and how to buy and close a position. 

 

How to choose a crypto broker

Choosing a crypto broker can take as much time as you are willing to invest in the task. The long approach involves gathering information on the industry, selecting candidates, evaluating your alternatives, opening and funding an account, and then trading. A number of key items factor into this process, such as regulation, fees, crypto portfolio offerings, customer service, safeguarding approach, a good trading platform, mobile app, and tools and features. 

Gathering information on the crypto community of brokers and exchanges can be a time-intensive exercise, but we have shortened this process for you by providing a list of highly rated prospects in the table above. We also have comparison tools to assist in your assessment of your final candidates. 

Crypto trading fees in the UK 

Crypto fees primarily come in three varieties: trading spreads, deposit or withdrawal fees, and interest charges on margin accounts. Trading spreads in the UK can range from as low as 0.06% to as high as 1.49%, when canvassing the top dozen brokers and exchanges. The average is roughly 0.50%. Deposits are typically free, but withdrawals may vary to cover banking costs. Margin interest rates are typically disclosed on the broker’s website.

FAQs

 

How to become a crypto broker in the UK

A prospective crypto broker, assuming that the correct experience, credentials and funding are in place, will need a licence from the FCA to operate, a safe and secure trading platform and website, and relationships with other brokers, exchanges and liquidity providers. Banking relationships are a necessity, as well as being overly tested before going live.

What is a crypto broker?

A crypto broker is a market maker in the crypto coin you wish to trade, which can be handled in two ways. The traditional method is to buy and own the asset. The second way is to buy a CFD from your broker, which does not require actual ownership of the underlying asset. Selling short is much easier with a CFD. CFDs also minimise security issues tied to crypto ownership.

Can you trade crypto on forex?

You do not need a specialised trading platform to trade cryptocurrencies. They are very similar to trading forex, in that they come as a pair, typically versus the USD or EUR, but often versus other crypto tokens. Trading platforms, technical analysis, charts and indicators behave similarly, except for the fact that crypto tends to be more volatile.

How does a crypto broker work?

A crypto broker can sell you an asset directly or sell you a derivative, which does not require transferring title to the underlying crypto. In this case, the trader is speculating on the direction that prices might take in the market over time. These crypto derivatives can include CFDs, options and futures. The FCA currently bans CFD trading in the UK.

Sources:

  1. https://www.forexbrokers.com/guides/best-cryptocurrency-brokers
  2. https://www.forbes.com/advisor/investing/how-to-buy-bitcoin/
  3. https://www.forbes.com/uk/advisor/investing/best-crypto-exchanges/
  4. https://www.thetimes.co.uk/money-mentor/article/cryptocurrency-trading-for-beginners/
  5. https://bitcoin.co.uk/how-to-buy-your-first-bitcoin/
  6. https://www.fxstreet.com/cryptocurrencies/resources/brokers-cryptocurrency-broker
  7. https://www.coinmarketcap.com
  8. https://www.ft.com/content/6e79e3e0-c7c9-4577-998c-5c79d24cf1d2
  9. https://www.business2community.com/uk/cryptocurrency/best-crypto-exchange-uk

Not a Fee, But ‘Long-Term Payment’ — How Crypto Exchanges List Tokens (cointelegraph.com)