Cryptocurrency CFD (Contract for difference) trading platforms allow you to trade a variety of digital coins, the likes of Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC), & many more. Often CFD platforms will also allow users to trade in forex, indices, shares, and commodities, offering a more comprehensive trading experience.
For anyone wondering what cryptocurrency CFDs are, they’re complex financial instrument that allows users to speculate on the price of an asset without owning it. They are becoming increasingly popular as a trading asset in the crypto space. CFDs are offered leverage, meaning you only need to add a portion of the investment value.
When trading CFDs, users can set the parameters for the transactions, including whether to take a long or short position, the leverage involved, the investment amount, and other details depending on the depth of options offered by the provider. Once the position is set, it will remain open until the trader decides to close, a stop loss or take profit point has been reached, or the contract expires.
The profit potential is extremely high, but this potential comes with an equal level of risk. As such, the more experienced traders should only take crypto CFD positions.
For those traders well-versed in the crypto markets, we put together a list of the best CFD crypto trading platforms in 2022.
This cryptocurrency exchange is suitable for experienced users looking to make the most of advanced trading features, including a premium CFD trading product. Users can enjoy the chance to achieve increased profitability compared to other platforms, benefitting from the chance to trade cryptos, foreign currencies, major stock indices, and commodities with the meagre PrimeXBT fees.
PrimeXBT provides a first-rate easy-to-use platform supported by an innovative mobile trading app. Loyal users who bring friends to the platform will be rewarded through an excellent referral system, gifting them free crypto. A unique feature at PrimeXBT is the novel co-investing feature, where users can copy trade and profit by copying the transactions of veteran traders.
For more experienced traders, users can take advantage of some fantastic technical analysis tools and charting, helping to break down market movements. One issue we had with PrimeXBT is that it offers a limited number of trading pairs, and on the cryptocurrencies held by customers, they won’t be able to profit from staking.
Eightcap, founded in 2009, offers crypto CFDs for Bitcoin, Ethereum and Ripple, though the platform isn’t crypto-focused. The Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC) regulate the company, ensuring client funds are secure and the platform’s operations are legitimate.
Eightcap offers high-risk crypto CFDs, with meagre trading fees. Customers will find that opening an account is quick and seamless, and depositing funds into their newly created accounts is entirely free. We don’t often see this excellent offering at other top-notch CFD platforms.
Despite offering a CFD product, Eightcap provides limited research and educational tools. Given that these products are extremely risky to customers, we’d expect a more responsible, conscientious approach to investor protection.
One of the biggest names in retail trading, found in 2007, eToro added cryptos CFDs in 2013, drawing in a vast customer base from the digital asset space. eToro is reliable and secure, which has become increasingly valuable in recent years as the industry has been hit with continued scams and hacks. eToro users will be able to invest in not just crypto CFDs, but also stocks, ETFs, and digital asset trading.
The eToro platform is full-featured, offering a range of excellent investment products, such as copy trading and a demo account to give users the chance to get to grips with new and complicated features. eToro offers a user-friendly app which makes trading more social and accessible for customers, trading on the go.
Another thing we loved about eToro was that customers could deposit funds for free using debit and credit cards, which often incur fees at other significant providers. The supported cryptocurrencies could be improved at eToro, as they offer a limited selection, even across the most popular currencies.
It’s clear why these are three of the top CFD crypto trading platforms around, all of which offer top-tier trading experiences with a wealth of cryptocurrencies and tokens to enjoy. PrimeXBT brands itself first as a crypto platform, while eToro and Eightcap market themselves as trading platforms offering a range of assets. On top of that, PrimeXBT provides additional features beyond the others, offering better accessibility and profitability on CFDs, making it the best choice for traders.