Best Online Brokers Trading Platforms In 2020
Cryptocurrency, especially Bitcoins has surely surprised many of us traders. The way it held itself during the international lockdown period, it made the traders believe that it was the only hope for them to survive. When every asset fails to perform in the quarantine period, it was only Bitcoin and other Cryptocurrencies that held itself together.
Cryptocurrency is a decentralized digital currency that is highly volatile in nature. The volatility is so high that even a big name like Warren Buffet consider Cryptocurrency as a waste of time.
For instance, the price evaluation of the Bitcoin at the starting of 2017 was nearly $1000. But by the end of 2017, the price evaluation of the Bitcoin reached the $20,000 mark. Then in the next year, the price dropped back to $3000. Then again in the early months of 2019, the price evaluation was close to $3000, but at the end of 2019, the price reached to $10,000.
After seeing such fluctuation in the price value of the Bitcoin and other cryptocurrencies, traders thought of different ways to utilize the volatility of the cryptocurrencies in favor of their trading deals.
Best Online Broker for Crypto Trade
With how the popular Cryptocurrency trade has become, people started the Crypto trade. But for the new traders, the trade market was a harsh place to live in. This created a market for online brokers.
Today, you will find thousands of online platforms that provide broker facilities. However, you must be very careful while selecting one to facilitate broker facility. Some of the online platforms are just fake or spam.
To make sure that you outsource the right broker, we have come up with a list of top online brokers that are trusted among the fellow traders.
Kraken is one of the cheapest platforms that you can ever get (2.5% broker charge). It provides all the necessary tools to the traders and also helps them to make the right trading decision. Kraken is well suited for making moderate capital deals. If you are one of those rich guys who have upper 4 digit capital to invest, then we suggest that Kraken is not the right place to do so. Instead, you can go for a coinbase. With the help of the coinbase, you might also be able to reduce brokers’ charges.
Coinbase is one of the largest brokers you could get online. It boasts about having more than 20 million user database. The sheer number of the user shows how trusted this platform is. However, this platform is slightly costlier than that of Kraken. In addition, the rate of Broker charges also depends on what kind of asset you are placing your deal.
Trade station is a new online broker platform that was launched last year in January 2019. This platform is well known for its experienced brokers. The brokers of the Trade Station have a good reputation among the users to provide best services under affordable commissions. The way Trade station is gaming in popularity, some of the traders are predicting that it might rival Coinbase and Kraken in the near future.
Bitcoin fortress software is also one of the new additions to the online broker list. It was recently launched with the scope of providing a simple, safe, and secure platform to the new traders to make their Crypto trading deals. The popularity of the Bitcoin Fortress increases dues to its effortless Crypto exchanges.
The Bottom Line
In this article, we have highlighted few of the trusted online broker platforms that you can use to avail broker services. With that being said, you must take you needs into consideration as well before choosing a right broker for yourself.