Cryptocurrency trading may be done in two different ways: to trade one virtual currency for another that you wish to hold for a long term until they see a rise in the price, or to make a profit. The latter is mostly speculative, and most traders will depend on tried-and-true trading platforms, tools, and tactics to make money.

Most cryptocurrency exchanges currently employ blockchain technology, which enables decentralised order books and holding and is safer due to cryptography encryption techniques. Every trader whether a newbie or an expert wishes to select a crypto broker or a crypto exchange that offers the lowest fee structure along with other features and functionalities. Owing to this, we’ve made a list of the best crypto brokers in the UK that charge comparatively less fees than other crypto exchanges.  

Top Crypto Brokers In The UK

With so many crypto exchanges operating in the UK trading environment, some indicators might assist you to select only which is of value. 

In addition to regulation and security, this should contain authorized cryptocurrencies, fees, commissions, multiple payment methods, and other features. Let’s demystify the top 5 crypto brokers with the best features and services. 

1. eToro 

When it comes to selecting the best crypto broker from all aspects, a name comes to our mind, eToro. eToro is one of the most affordable crypto brokers in the world. Contrary to the other cryptocurrency exchanges, this extremely popular platform is approved and overseen by the FCA.

It also has licences from regulators in Australia and Cyprus, so protection should not be an issue. eToro offers you to buy and trade over 120 cryptocurrencies, including several of the greatest new crypto coins, in addition to equities, ETFs, and dozens of CFD markets. This ranges from Bitcoin and Ethereum to Ripple and EOS.

eToro has crossed a 17 million subscriber base. One of the most tempting aspects of eToro is that it charges no commission. This means you may trade your preferred crypto tokens without paying any fees. When you make a deposit, you will, however, be charged a 0.5% FX fee. However, this is offset by the commission-free deal.

Furthermore, eToro does not impose any recurring platform fees. Importantly, if you are thinking of joining a UK crypto exchange for the first time, eToro is an excellent choice. Not only is the site easy to use, but creating an account just takes a few minutes. The FCA-regulated company also accepts a variety of common payment options, such as debit cards and bank transfers.

2. Huobi 

Huobi is another excellent cryptocurrency exchange in the UK to consider. Huobi is a cryptocurrency exchange situated in the Seychelles that has grown to over 10 million registered customers since its inception in 2013. One of the most enticing aspects of this site is that users may trade over 350 different cryptos, including several penny cryptos that are not available on other exchanges.

When utilising the exchange, Huobi costs only 0.2% for each deal, which you may lower by half if you pay in Huobi Token which is the platform’s native cryptocurrency. Customers can exchange futures, swaps, and USDT-margined contracts in addition to live market transactions, considerably extending available investment possibilities. Transfers on the Huobi platform are free for crypto and FIAT, with Faster Payments allowing for immediate GBP deposits.

Huobi provides an outstanding trading experience as evidenced by over 29,000 testimonials on Google Play, with an average score of 4.5/5. Huobi keeps its users’ assets in cold wallets and has never been breached, demonstrating the exchange’s high degree of security. Now, Huobi provides a free cryptocurrency wallet software that allows users to manage their encryption information including secret keys and access several decentralised apps (dApps).

3. Bybit

Bybit provides a wide range of trading marketplaces, including the spot market and numerous derivatives markets. Users can, for example, trade ‘inverse perpetual futures,’ which give access to the future value of certain trading pairs with the ability to utilise leverage.

At the moment, Bybit supports over 80 cryptocurrencies, ranging from prominent alternatives like BTC and ETH to lesser-known coins like Tezos and Aave.

In terms of financing your account, Bybit lets people deposit a wide range of cryptos as well as swap FIAT cash into crypto via the Fiat Gateway. The latter option will need certain KYC checks with third-party companies, as well as a service fee which will depend entirely on the supplier.

Bybit uses a maker/taker fee system, in which users are paid a%age fee when they acquire and sell an item. With Bybit, these fees are extremely low — for example, taker costs are only 0.1%, while maker fees are 0.0% when trading the spot market. Finally, Bybit provides a web-based application as well as a mobile app for iOS and Android, the latter of which includes thorough price notifications!

4. CoinCorner

If speed and efficiency are your top priorities, CoinCorner may be worth exploring. As the company exclusively supports Bitcoin purchases, the site is more of a cryptocurrency broker than an exchange.

If you merely want to buy Bitcoin and save it for a few months or years, CoinCorner is an excellent choice. This is due to the fact that the entire account activation procedure may be done in minutes.

To begin, you must create an account by completing your identity information. Then you just make a deposit using your preferred payment option. This covers debit/credit cards from the United Kingdom, bank transfers, and Neteller. Once you’ve financed your CoinCorner account, you may start buying with just a few pounds.

5. Coinjar

Coinjar is a crypto broker and marketplace that caters to beginner traders. Because the website is free of unnecessarily sophisticated Blockchain jargon, the platform simplifies the process of purchasing and trading digital currency.

Instead, just register an account, add your ID, and buy your preferred virtual currency using a UK Faster Payments bank transfer.

Although you may transfer cash from your bank account without paying a fee, Coinjar does impose a 1% commission when you purchase or sell crypto tokens. For example, if you wish to purchase £500 worth of Bitcoin, you would incur a £5 transaction charge. Coinjar provides a basic crypto exchange in addition to its primary broker service.

With the press of a button, you may exchange almost fifty cryptocurrency pairings. This contains a comprehensive range of digital currency pairings valued against the pound sterling. You may even trade the exchange rate between two rival cryptocurrencies, however, these pairs are best left to experienced traders.

The Coinjar exchange’s costs are lower than those of its brokerage service. Instead of spending 1% to acquire Bitcoin, you may exchange digital currency pairings for as little as 0.20%. By trading in bigger volumes, you may get this cost even lower.

Conclusion 

In conclusion, while it is wonderful that UK people now have access to hundreds of bitcoin exchanges, it is critical to note that the majority of these companies operate without a licence. As a result, you should look at not just if the exchange is authorized by the FCA, but also measures such as supported markets, fees, and payment methods.

We discovered that eToro is the top crypto platform in the UK after researching dozens of well-known services.

This is due to many features as discussed above. And, of course, the FCA regulates this top-rated exchange, so you can avoid using a dodgy unregulated platform!