I live in Thailand since 2016. I trade using the accounts of several Forex Brokers. I try to provide simple information based on my actual experience. For others, see [Profile].
FXGT

The Reason Why FXGT is the Best Broker for Bitcoin Trading

If you want to trade cryptocurrencies such as Bitcoin, FXGT is the best broker.

The reason is as follows.

The reason why FXGT is the Best for Crypto trading
  • Can trade with the least amount of money
  • Bonus programs and the margin increases
  • Lowest cost
  • Largest number of pairs
  • With negative balance protection system you never have debt

I will explain these reasons in detail.

However, cryptocurrency trading at forex brokers is not a spot trading, it is CFD.

Forex brokers do not provide you Bitcoin wallets.

Since you do not own the physical Bitcoin, you cannot send Bitcoin to anyone.

If you want to keep Bitcoin as asset for a long time, please skip this article.

If you didn’t open FXGT account yet, please refer to another article and open it.

FXGT | How to Open an AccountPerfect explanation of how to open an trading account. What is the steps? What kind of document is needed for PLE and POA? You can know all and open an account within 3 minutes!...

\Just 3 minutes!!/
Open an Account

About Cryptocurrency

Entering the second half of 2020, Bitcoin price is steadily rising.

The price has dropped considerably since the outbreak of Covid-19, but as of November 2020, when this article was written, it has already exceeded $ 15,000.

Will the day come when the price will exceed $ 20,000 again at the end of 2017?

**In January 2021, it finally exceeded $40,000 per BTC!!

It is also said to be the return of the 2017 cryptocurrency boom, boosting price increases.


Please see the separate article “Best Forex Brokers for Crypto Trading” for an easy-to-understand summary of cryptocurrencies.

It also explains why cryptocurrencies are popular with forex traders and what is the difference between forex brokers and Bitcoin exchange company.

Best Forex Brokers for Crypto TradingIt has been more than 10 years since the birth of cryptocurrencies, but the value of cryptocurrencies will not increase tens to hundreds of times as it used to. On the other hand, cryptocurrencies are very attractive for short-term trading like Forex....

 

Forex Brokers that Offers Crypto Trading

The following 7 brokers.

Each has its own characteristics, but FXGT is the best.

Forex BrokerCryptocurrenciesMax Leverage
FXGT

28 Pairs (8 Cryptos)

BTC:Bitcoin
EHT:Ethereum
XRP:Ripple
LTC:Litecoin
BCH:Bitcoin Cash

ADA:Cardano
DOT:Polkadot
XLM:Stellar Lumens
1:500
FBS

5 Pairs (5 Cryptos)

BTC:Bitcoin
EHT:Ethereum
XRP:Ripple
LTC:Litecoin
BCH:Bitcoin Cash
1:3
HotForex

12 Pairs (9 Cryptos)

BCH:Bitcoin Cash
BNB:Binance
BTC:Bitcoin
EOS:EOS
ETH:Ethereum
LTC:Litecoin
XLM:Stellar
XMR:Monero
XRP:Ripple
1:10
(XRPUSD : 1:5)
TitanFX

18 Pairs (9 Cryptos)

BCH: Bitcoin Cash
BTC: Bitcoin
ETH: Ethereum
LTC: Litecoin
LINK: Chainlink
XLM:Stellar Lumens
XRP: Ripple
DOT: Polkadot
EOS: Eos
1:20
iFOREX

17 Pairs (15 Cryptos)

BTC:Bitcoin
ETH:Ethereum
XRP:Ripple
BTC:Bitcoin Cash
LTC:Litecoin
DOGE:Dogecoin
TRX:TRON
ADA:Cardano
XLM:Stellar
IOTA:IOTA
NEO:NEO
DASH:Dash
EOS:EOS
XMR:Monero
DOT:Polkadot
Bitcoin : 1:13.3
Ripple : 1:5
Others : 1:10
Tradeview

5 Pairs (4 Cryptos)

BTC:Bitcoin
ETH:Ethereum
LTC:Litecoin
XBN:BItcoin Cash
XRP:Ripple
Bitcoin : 1:10
Others : 1:5
TMGM

5 Pairs (5 Cryptos)

BCH:Bitcoin Cash
BTC:Bitcoin
ETH:Ethereum
LTC:Litecoin
XRP:Ripple
1:5

Why FXGT is the BEST

As mentioned at the beginning, the reasons are as follows.

From the risk and cost perspectives, I think FXGT is the only choice.

Let’s look at the specific reasons in order.

Can Trade With the Least Amount of Money

The biggest feature of forex broker is high leverage.
It’s normal, like 500 times or 1000 times.

However, unlike currency pairs, cryptocurrencies have large price fluctuations (volatility), so the leverage is set lower than usual.

Cryptocurrency exchange companies offer spot trading and margin trading.

Margin trading is usually up to 4-5 times leverage.

Margin trading is not offered by all cryptocurrency exchange companies.

The Thai cryptocurrency exchange company I use can only do spot trading. This means, leverage is 1:1. No leverage.

The maximum leverage when trading Bitcoin with the forex broker I am introducing is as follows.

Forex BrokerMax Leverage
FXGT1:500
HotForex1:10
TitanFX1:20
iFOREX1:13.3
Tradeview1:10
TMGM1:5
Crypto Exchange Company A1:4
Crypto Exchange Company B1:1

FXGT is 500 times the same as a currency pair!!

Other Brokers have a maximum of 1:20.
TMGM is the most conservative, 1:5

Many cryptocurrency exchanges allow margin trading 1:4.
The leverage of a company that offers only spot trading is only 1:1.

How much does it cost to buy 1 BTC?

Now, let’s calculate how much it takes to buy 1 BTC.

As of February 2021, the price of Bitcoin is over $ 40,000 per BTC.

Let’s define it as follows so that it is easy to calculate.

  • 1BTC = $40,000
Forex BrokerLeverageMargin required to buy 1 BTC
FXGT1:500 (Up to $10,000)
1:200 (For more than $10,001)
$170
HotForex1:10$4,000
TitanFX1:20$2,000
iFOREX1:13.3$3,000
Tradeview1:10$4,000
TMGM1:5$8,000
Crypto Exchange Company A1:4$10,000
Crypto Exchange Company B1:1$40,000

In FXGT, leverage is limited in stages depending on the transaction amount.
FXGT calls this “Dynamic Leverage”.
The rules of FXGT allow for a high leverage of 500x up to $10,000 of the transaction amount, and above $10,000 and up to $50,000, the leverage is 200x.

The formula is as follows

Bitcoin 10,000 USD ÷ 1:500 = $20 margin requirement
Bitcoin 30,000 USD ÷ 1:200 = $150 margin requirement

In other words, to purchase 1 BTC = $40,000 with FXGT, you can purchase it with $170 by utilizing leverage.


With leverage, you can see easily that you can trade the same lot for less.

Bonus Programs and the Margin Increases

Each forex broker offers the following bonuses.

*As of February, 2021

Non-deposit BonusDeposit BonusOthers
FXGT50%/20%
(Max $6,500)
HotForex30%
(Max $7,000)
Cashback
TitanFX
Tradeview
iFOREXCashback
TMGM10%
(Max $10,000)
Gift Exchange

FXGT, HotForex and TMGM offer deposit bonuses.

Tradeview doesn’t have any bonus programs.

The bonus cannot be withdrawn by itself, but can be used as part of the margin.

For example, in the case of FXGT, if you deposit $130, the deposit will be $130 + deposit bonus 50% ($65) = $195 in total.

(*Please note that the bonus amount of FXGT changes every month because it changes every month.)

With $195, you can buy 1 BTC with high leverage.

This means that you can invest $40,000 in Bitcoin with a deposit of only $130.

With bonuses, you can trade with less money at risk.

The Best Forex Bonus Program RankingSome Forex brokers offer very attractive bonus programs. When you start forex trading, you can make good use of the bonus program to start trading with low risk....

Lowest Cost

Cryptocurrencies such as Bitcoin have high volatility and generally have higher transaction fees than currency pairs.

Even in that state, FXGT is by far the best and the fee is the cheapest.

Below are the commissions (spreads) for trading BTCUSD with each broker.

It is a spread actually measured from a trading tool at the same time (around noon on weekdays).

*Measured in June 2021. 1BTC = $40,000

Min spread that brokers shows in website is also listed.

BrokerReal Spread
(USD)
Min Spread
(Official website)
FXGT$20 – $25$8
HotForex$50 – $55$26.0
TitanFX$26 – $28N/A
iFOREX$120 – $130$155.61
Tradeview$65 – $75 *N/A
TMGM$42 – $43$23.0

Only Tradeview shows the spread notation with the transaction fee added separately because my account is an ECN account.

Tradeview charges a virtual currency transaction fee of 1.5 points.

In the case of BTCUSD, it is equivalent to 0.0015 BTC. So there is a fee of $40,000 x 0.0015 = $60.

If you look at this, you can see that FXGT is by far the cheapest.
Trading 1 BTC, the commission is about 20-25 USD.

TMGM and HotForex, which have relatively good conditions, TMGM charges 42-43 USD, and HotForex charges 50-55 USD, so FXGT is much cheaper.

Largest number of pairs

The number of cryptocurrency pairs handled by FXGT is 28, which is the largest.

As for cryptocurrencies, FXGT handle not only major cryptocurrencies such as Bitcoin (BTC) and ETH (Ethereum), but also ADA (Cardano) and DOD (Polkadot), which are extremely new and have been attracting attention recently.

Below is a list of cryptocurrency pairs handled by FXGT.

NoSymbolCryptocurrency Pair
1ADABTCCardano / Bitcoin
2ADAEURCardano / EUR
3ADAJPYCardano / JPY
4ADAUSDCardano / USD
5BCHEURBitcoin Cash / EUR
6BCHJPYBitcoin Cash / JPY
7BCHUSDBitcoin Cash / USD
8BTCEURBitcoin / EUR
9BTCJPYBitcoin / JPY
10BTCUSDBitcoin / USD
11DOTBTCPolkadot / Bitcoin
12DOTUSDPolkadot / USD
13ETHBTCEthereum / Bitcoin
14ETHEUREthereum / USD
15ETHJPYEthereum / JPY
16ETHUSDEthereum / USD
17LTCBTCLitecoin / Bitcoin
18LTCEURLitecoin / USD
19LTCJPYLitecoin / JPY
20LTCUSDLitecoin / USD
21XLMBTCStellar Lumens / Bitcoin
22XLMEURStellar Lumens / EUR
23XLMJPYStellar Lumens / JPY
24XLMUSDStellar Lumens / USD
25XRPBTCRipple / Bitcoin
26XRPEURRipple / EUR
27XRPJPYRipple / JPY
28XRPUSDRipple / USD

Negative Balance Protection System

This is common to all forex brokers, not only FXGT.

Even if the price moves in the opposite direction and you got a stop out, you will not be in debt more than the amount you deposited.

In the previous example, in FXGT, you can trade 2 BTC ($ 28,000) with a deposit of $100, but even if you got a stop out, you will only lose $100.

Negative Balance Protection System will definitely protect you.
You will be able to start over again.

In addition, the story that I actually met the stop out and was saved by NBP system is summarized in another article. Please see if you are interested.

XM | Negative Balance Protection System | The True Story that Saved MeThe true story that I was saved by XM negative balance protection system. This is a very attractive system, but I will explain in an easy-to-understand whether it really applies, how to apply, and conditions that do not be approved....

Cryptocurrency Can be Used for Deposit

FXGT accepts Bitcoin, Ethereum, Ripple and Tether deposits.

As far as I know, all cryptocurrency exchanges support domestic bank transfer, so if you do not have a cryptocurrency exchange account yet, create one.

Domestic bank → Cryptocurrency exchange → Bitcoin remittance to FXGT, it seems the fee is cheep.

If you are worried about Bitcoin price fluctuations during remittance, Tether is recommended.

I think it’s a good idea to choose a cryptocurrency exchange that supports Tether.

FXGT deposit by cryptocurrency

Summary

That’s why FXGT is the best broker for Bitcoin trading.

Focus on the volatility of cryptocurrencies and aim for big profits while controlling risks with a small amount of funds.

The reason why FXGT is the Best for Crypto trading
  • Can trade with the least amount of money
  • Bonus programs and the margin increases
  • Lowest cost
  • Largest number of pairs
  • With negative balance protection system you never have debt

\Just 3 minutes!!/
Open an Account

FXGT | Forex Broker ReviewIs FXGT a good broker? Are they scammer? Review from trader's point of view who really use FXGT. Ultimately you can decide FXGT is suitable for you or not!...
FXGT | How to Open an AccountPerfect explanation of how to open an trading account. What is the steps? What kind of document is needed for PLE and POA? You can know all and open an account within 3 minutes!...
ABOUT ME
KandA
KandA
I live in Thailand since 2016. I trade using the accounts of several Forex Brokers. I try to provide simple information based on my actual experience. For others, see [Profile].