Best MT4 Crypto Brokers (Compared)

Admiral Markets is a popular option among forex traders and is gaining steam as a top MT4 cryptocurrency broker. The company is a top pick among traders who look for a heavily regulated option because it answers to several regulatory authorities around the world. 

Admiral Markets’ primary product portfolio consists of CFDs, of which more than 20 are cryptocurrency-related. Crypto CFDs are derivative financial products that give you exposure to crypto without having to actually own these digital currencies. The choice of dozens of crypto assets makes the broker a strong choice for experts looking for more variety. Some other benefits of using Admiral Markets include:

• Low Fees: Trading fees average around 0.15%. 
• Fast Money Transfers: Whether you’re depositing money to trade or pulling money out of your brokerage account to spend, you want it to happen quickly. Admiral Markets process these types of transactions faster than most other brokers, and there are no fees for deposits or withdrawals. 
• Ease of Use: It’s fast and easy to open an account with Admiral Markets, and the brokerage is just as easy to use. 
• Regulation: The broker is regulated by several regulatory authorities including top-tier authorities like the FCA and ASIC. 

As with any other option, Admiral Markets has  its share of drawbacks. Most significantly:

• Limited Product Portfolio: The broker’s product portfolio is largely limited to CFDs. 
• No 24/7 Customer Service: 24/7 customer service is typically an expectation when it comes to forex and cryptocurrency brokers. Unfortunately, Admiral Markets doesn’t offer this service.
• Inactivity Fee: If you don’t make any transactions over a 24-month period, Admiral Markets charges you a EUR10.00 inactivity fee.

CMC Markets is a strong option whether you’re just starting out as a cryptocurrency trader or you’ve been trading for years. The platform offers a wide range of research and educational features to help beginners become pros and pros expand their horizons. It also has a large product selection that will appeal to most traders. 

The broker focuses primarily on CFDs, fees are minimal, and the platform is relatively easy to use. Some other advantages of using CMC Markets include:

• Mobile Trading: CMC Markets’ mobile app is just as intuitive as its desktop platform, so it’s a great option for those who like to trade on the go. 
• Detailed Education Features: Most brokers focus on how they make money, not how you make money. It’s a breath of fresh air to see a broker take a vested interest in your success. That’s exactly what CMC Markets does with its in-depth education features. 
• Quality Research Tools: You have access to some of the best research tools on the market when you work with CMC markets. The platform has features that help you analyze assets from a technical and  fundamental perspective. 
• Competitive Fees: Fees start at just 0.10% which is significantly lower than the industry average. 

The biggest disadvantages of working with the broker include:

• High Stock CFD Fees: If you’re interested in trading stocks as you trade crypto, you’ll likely be disappointed with the high fees the company charges for stock CFD trades. 
• Only CFDs: CMC Markets only offers CFD trading. If you’re interested in another type of trading, you’ll need to work with another broker.
• Limited Customer Support: Although the customer support staff is responsive and intelligent, it’s only available five days per week. So, if you have questions or concerns on the weekend, you’ll have to wait until the beginning of the week to get them answered.

Avatrade made its name in the forex trading industry but has quickly emerged as a real competitor in the cryptocurrency trading space. The company offers a long list of CFDs and currency pairs, 13 of which are crypto-related. 

Some of the biggest benefits of working with Avatrade include:

• Deposits & Withdrawals: Avatrade offers a wide range of options to deposit or withdraw money. The best part is they’re all free. You’ll never pay a dime to move a dollar with the broker. 
• Education: Avatrade is another on the list of very rare brokers that take a vested interest in your success by investing in educational tools to help you learn the ropes. The educational features are in-depth and offer something for everyone, whether you’re a beginner or an expert. 
• Research Tools: The best trading decisions tend to be the most well-researched ones. Avatrade offers all of the research tools you need to make educated decisions in the market. 

Some of the biggest disadvantages to consider include:

• Trading Fees: Trading fees are based on spreads, which are about average for the industry, but they’re not what most would consider low.
• Inactivity Fee: You’ll pay a $50 fee if your account is inactive for three months and another $100 fee if that inactivity extends to one year.

Pepperstone is one of the most heavily-regulated crypto brokers because it answers to seven national regulators. The company made its name in the forex industry but quickly moved into the CFD and cryptocurrency spaces. Some of the most exciting reasons to work with Pepperstone include:

• Fully Digital Account Creation: You can create your account and start trading quickly with the company’s fully digital account creation process. 
• Deposits & Withdrawals: Deposits and withdrawals happen quickly, and Pepperstone doesn’t charge a fee for either. 
• Customer Care: Pepperstone offers top-notch customer service that’s available around the clock. 
• Top-Tier Regulation: Pepperstone is regulated by seven financial industry regulators including top-tier regulators like ASIC, BaFin, and FCA. 
• No Inactivity Fee: May MT4 crypto brokers require that members remain active on their platforms. If you don’t, they charge inactivity fees that could amount to over $100 per year. Pepperstone isn’t one of those brokers. The company has no inactivity fee at all. 

Some of the disadvantages of working with Pepperstone include:

• Basic MT4 Platform: Pepperstone’s MT4 platform is very basic with no additional tools available to traders.
• Fees: You’ll pay $3.50 in commissions per trade lot on the MT4 platform, plus spread-related fees.

FP Markets is a leading CFD and forex broker in Australia. The platform is known for fast and free deposits and withdrawals as well as access to a wider range of assets than most brokers offer. Other perks to using FP Markets include:

• Educational Features: FP Markets offers a wide range of in-depth educational features to help you become a more successful trader. Their tools cover everything from basic topics surrounding what trading is and how to do it to complex topics like advanced trading strategies and technical analysis. The company even offers eBooks to help you expand your trading horizons. 
• Demo Account: Test your strategy before you risk your money with access to a free demo account. 
• Low Fees: Spreads average around 0.5 basis points. 

Some of the biggest drawbacks to working with FP Markets include:

• Outdated Web Platform: FP Markets would likely benefit greatly from a web platform upgrade.
• Research Tools: The company does offer research tools that include news, charting, and fundamental data, but it’s easy to question the data they produce. This may prove to be a major issue if you use fundamental data as you trade. You may need to use a third-party service for your research needs.