With an extensive amount of media hype surrounding Bitcoin, it makes sense that there should be a definitive resource available to help people decide which brokers offer the best conditions and spreads. To accommodate this need, we’ve thoroughly researched and succinctly reviewed the top brokers who specialize in Bitcoin Contracts for Difference (CFDs). During our investigation we were surprised to discover that some brokers are increasing their spreads by as much as threefold as bitcoin amounts near the $10k range.
A Breakdown of Spreads for Bitcoin Brokers that Offer CFDs
Of course, if we were to review every bitcoin broker in existence, this page would wind up being a random and useless list that doesn’t provide any real guidance. To help you make a more refined and informed decision, we’ve compiled a list of the top bitcoin brokers that were currently offering CFDs at the time of our research. Most of the brokers have a variable spread, which means it changes depending on the amount of the CFD, but their lowest possible spread is a good indicator to start with. With that said, here’s a list of the top bitcoin brokers that offer CFDs along with data regarding their minimum spreads:
- XM.com – starts at 14 (variable)
- easyMarkets – Fixed spread set at 35 (their MT4 spread is 25)
- Pepperstone – starts at 22 (variable) – bitcoin trading page is down sometimes
- FXChoice – starts at 10 (variable) – doesn’t allow trading on MT4
- Markets.com – Fixed spread set at 40 – no bitcoin trading
- Ava Trade – starts at 77 (variable)
- Plus500 – starts at 60 (variable)
- IG – stats at 40 (variable) – can’t buy bitcoin on this platform
- FXPrimus – starts at 40 (variable)
- ICMarkets – starts at 40 (variable)
- eToro – highest of them all with a starting spread of 118 (variable)
Based on the data above, easyMarkets seems to have the competitive edge with a fixed spread that will never exceed 35. On the other end of the spectrum, eToro seems as though they’re not even trying to compete. In fact, it seems their goal is to maintain the highest possible spread, which essentially triples as CFDs get closer to $10,000 in value.
Comparing the Brokers with the Lowest Spreads
After carefully reviewing all of the above brokers, we determined that easyMarkets, Pepperstone, and XM.com consistently offered the lowest spreads on bitcoin CFDs. However, digging deeper we were able to find that both XM and Pepperstone have previously adjusted their conditions and spreads based on the potential for market volatility. On the other hand, easyMarkets has an impressive track record of never changing their spreads and terms regardless of the current market conditions, having kept them the same through numerous election periods and times of economic uncertainty.
The Importance of Keeping Spreads Minimum
If your goal is to earn a profit using bitcoin CFDs, your primary concern should be how much the broker is going to charge in each transaction. Thus, opting for a broker that offers low fixed spreads is usually the best bet.
