Cryptocurrency

Ten Best Crypto Brokers for 2023

Swathi Kashettar

Ten best crypto brokers are gathered in this article, that connects buyers and sellers of digital assets.

Cryptocurrencies have gained popularity in recent years due to their potential to offer fast, low-cost, and transparent transactions across borders. However, investing and trading in cryptocurrencies can be challenging, especially for beginners. There are hundreds of crypto exchanges and platforms that offer different features, fees, security, and customer support. Choosing the best crypto broker for your needs can make a big difference in your crypto journey. In this article, we will review the ten best crypto brokers for 2023 based on various criteria such as fees, number of coins available, minimum deposit, account activation time, customer service, security, and user-friendliness.

  1. Kraken– Kraken is a US-based crypto broker that offers trading in over 120 cryptocurrencies. Kraken charges a flat fee of 0.9% for stablecoins and 1.5% for other cryptocurrencies when using the Kraken Instant Buy feature. Users can also trade on the Kraken Pro platform with lower fees that vary depending on the trading volume and the coin pair.

  2. KuCoin is a global crypto exchange that offers trading in over 300 cryptocurrencies. KuCoin has a tier-based maker/taker trading fee structure that depends on the user's trading volume and KuCoin Shares (KCS) holding. The base fee for both market makers and takers is 0.1% for spot trading. Users can reduce their fees by holding KCS tokens or by increasing their trading volume.

  3. TradeStation– TradeStation is a US-based online broker that offers trading in stocks, options, futures, ETFs, and cryptocurrencies. TradeStation Crypto charges a flat fee of $5.5 per $1,000 of spot crypto trade volume(brokerchooser.com). Users can also access advanced trading tools such as charts, indicators, alerts, and order types. TradeStation Crypto has no minimum deposit requirement and users can activate their account in one day.

  4. Interactive Brokers– Interactive Brokers is a US-based online broker that offers trading in stocks, options, futures, forex, bonds, ETFs. Interactive Brokers charges a low commission of 0.12% to 0.18% of trade value, with a $1.75 minimum per order, and a maximum of 1% of trade value. For example, for a $100 order, your expense would be $1. Plus, there are no added spreads, markups, or custody fees.

  5. Alpaca Trading– Alpaca Trading is a US-based online broker that offers commission-free stock and cryptocurrency trading. Alpaca Trading charges a flat fee of $2.50 per $1,000 of spot crypto trade volume(forbes.com). Users can also access advanced trading features such as limit orders, stop orders, trailing stop orders, and fractional shares.

  6. TradeStation– TradeStation is a US-based online broker that offers trading in stocks, options, futures, ETFs, and cryptocurrencies. TradeStation Crypto charges a flat fee of $5.5 per $1,000 of spot crypto trade volume. Users can also access advanced trading tools such as charts, indicators, alerts, and order types. TradeStation Crypto has no minimum deposit requirement and users can activate their account in one day.

  7. Gemini– Gemini is a US-based crypto exchange that offers trading in over 120 cryptocurrencies. Gemini charges a maker fee of 0.2% and a taker fee of 0.4% when using the Gemini ActiveTrader platform. Users can also trade on the Gemini mobile app or web interface with higher fees that vary depending on the order size. For example, for an order between $10 and $200, the fee is 1.49% of the order value.

  8. Coinbase– Coinbase is a US-based crypto exchange that offers trading in over 200 cryptocurrencies. Coinbase charges a variable fee based on the payment method and the order size when using the Coinbase mobile app or web interface. Users can also trade on the Coinbase Pro platform with lower fees that depend on the trading volume and the coin pair. For example, the maker fee for BTC/USD is 0.5% and the taker fee is 0.5% for less than $10,000 monthly volume.

  9. Webull– Webull is a US-based online broker that offers commission-free trading in stocks, options, ETFs, and cryptocurrencies. Webull does not charge any fees for cryptocurrency trading, but it adds a spread or markup to the cryptocurrency price that averages around 1%.

  10. eToro– eToro is a global online broker that offers social trading and investing in stocks, ETFs, commodities, currencies, indices, and cryptocurrencies. eToro has over 20 million users from more than 140 countries who can copy the trades of other users or trade on their own. eToro charges a spread fee that varies depending on the coin, but averages around 0.75%(forbes.com). Users can also enjoy zero commission on stock and ETF trading.

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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.

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