Forex Brokers Accepting Bitcoin Deposits

Select brokers accept Bitcoin for deposits. In some countries, it is common for residents to keep money outside national bank accounts and their associated fiat currencies. Residents choose to save their money in different currencies as the local currency is subject to sudden drops in value.

These sudden drops in value are often associated with political volatility and economic collapse stemming from poor government policy, trade relations and failing institutions.

Policies vary from broker to broker surrounding Bitcoin deposits, but these are the most reputable brokers who can transfer funds from a Bitcoin wallet to a trading account.

Best Forex Broker Accepting Bitcoin Deposits

Bitcoin Anonymity

Know your customer (KYC) documentation is needed to for all accounts, regardless of the account funding method. Although Bitcoin is an anonymous currency, all account holders will need to identify themselves and provide the standard documentation to support their application.

Deposits & Withdrawals with Bitcoin

Deposits with Bitcoin can either be made with direct transfer between a wallet and the broker or by using an intermediary like Bitcoin transfer by Skrill.

Withdrawals of funds will only be returned to the same Bitcoin address, and additional profits will be sent to a bank account or e-wallet. The name on the withdrawal bank account or e-wallet needs to match that on the trading account.

Best bitcoin wallets

Bitcoin wallets that are recommended for transfers to Forex brokers are:

  • BitPay
  • Bitcoin Schildbach
  • Breadwallet
  • BLOCKCHAIN wallet
  • Copay
  • Mycelium

Deposits from Bitcoin wallets fund your account instantly. If a client is transferring more substantial amounts of Bitcoin currency, it is commonplace for the broker to ask for a screenshot of the summary of the account. This request is an attempt at preventing the broker from being used as a part of a fraud scheme.

Brokers for trading Bitcoin and Cryptocurrency CFDs

Traders do not need to deposit in bitcoin to trade Bitcoin currency pairs. Regular USD, ZAR or GBP deposits can be used to trade these pairs. Most Forex brokers offer cryptocurrency CFD trading.

The best cryptocurrency brokers will have a broader range of cryptocurrency pairs to offer traders. Brokers like Plus500, eToro and EasyMarkets are some of the best and most trusted brokers in this area.

Note that there is no open cryptocurrency interbank market, and each of the brokers where clients can trade cryptocurrency is making the market, and counterparty to all trades.

How to choose the best broker

When choosing a Forex broker, the same conditions should apply regardless of the deposit method. When we evaluate brokers, we consider their regulation and oversight, the trading conditions extended to clients, and trading platform choice offered.

Read more our review process or read our broker comparison data for a more detailed view. The best Forex brokers in South Africa are here.

Jeffrey Cammack Administrator
Editorial Director at TradeForexSA
Jeff Cammack is the Editorial Director, a Forex trader since 2008, and educator. Always in search of new trading opportunities, Jeff can always be found doing research in the charts or combing through the financial news. When not trading, he is always researching his next article.
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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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