Do you want to start trading cryptocurrencies but do not know how to find the best cryptocurrency brokers in the US? Well, this guide lists the top 5 cryptocurrency brokers in the US approved by our expert researchers. We also included short overviews of the brokers’ features to help you make the right choice that aligns with your needs.
In this guide
Best Cryptocurrency Brokers in the US
Compare Best Cryptocurrency Brokers in the US of 2022
- 1. Robinhood – Overall Best Broker for Crypto Trading in the US
- 2. TradeStation – Best Cryptocurrency Broker for Beginners in the US
- 3. eToro – Broker with Widest Choice of Cryptocurrency Assets in the US
- 4. Interactive Brokers – Best Crypto Broker for Bitcoin Trading in the US
- 5. TD Ameritrade – Cryptocurrency Broker with the Lowest Trading Fees in the US
- How to Choose the Best Crypto Broker in the US
How we test?
OnlineTrading aims to provide quality, simple, and proven information to its readers. Our team of financial experts carefully checks every detail to provide a unique and comprehensive guide to safe trading around the world.
Feedback from regular users is very important to us, so we try to consider the opinions of reviews and feedbacks from several trusted platforms. We spend about 100 – 250 hours analysing and collecting information on each trading platform to ensure our recommendations are reliable.
Naturally, we always remain impartial, honest and recommend only licensed and reliable brokers.
Compare Best Cryptocurrency Brokers in the US of 2022
The recommendations below of the best cryptocurrency brokers in the US came about as a result of thorough research and multiple tests. Our experts reviewed and compared features, including regulations and licenses, trading charges, platform offerings and performances, demo accounts, and more.
We couldn’t conclude our research without the opinion of other cryptocurrency traders. Therefore, we compared over 160k comments and ratings from Google Play, the App Store and Trustpilot. Because of our unique approach, we are confident in our recommendations and assure you the best experience ever.
Here is a sample table showing how we rated the best cryptocurrency brokers in the US based on our research.
1. Robinhood – Overall Best Broker for Crypto Trading in the US
Robinhood is a US-based cryptocurrency broker that also offers stock trading on a mobile platform. There is no desktop trading with this broker. Interestingly, Robinhood does not charge commissions or spread for cryptocurrency trading. There is also no minimum deposit requirement, allowing all traders to try their luck, regardless of their budget sizes.
Robinhood is user-friendly with a straightforward account opening procedure. All transactions are free of charge, and you shouldn’t expect inactivity charges as well. The only sources of revenue for this cryptocurrency broker are interests from margin lending and interested on customer funds. In other words, Robinhood is free to trade cryptos with.
If you are a beginner, Robinhood offers adequate learning resources to grow your skills. Unfortunately, there is no demo account. However, this feature shouldn’t be a determining factor considering that the broker offers free cryptocurrency trading services.
- Free cryptocurrency trading services
- No minimum deposit requirement
- User-friendly platform secured with a two-step login procedure
- Only mobile trading is allowed – there is no desktop version
- No demo account
2. TradeStation – Best Cryptocurrency Broker for Beginners in the US
TradeStation is another US-based electronic broker with user-friendly web and mobile platforms. Not only are these platforms secured by a two-step login procedure, but they also host quality learning resources. Beginners in the US cryptocurrency market will quickly build their skills if they utilise them accordingly.
TradeStation hosts adequate cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and USD Coin. As a beginner with zero experience, you can practise trading these cryptocurrencies on the broker’s demo account to identify the best one for you.
TradeStation’s price plans are heavenly, starting with no account minimum deposit requirement. Trading charges are also low, allowing you to put in a small amount of money as you start your venture. You can, later on, increase your trade size when you feel confident in your cryptocurrency trading skills.
- User-friendly platforms
- Excellent learning materials, including guides, articles, recorded videos, and more
- Low trading charges on all cryptocurrencies
- No minimum deposit required to access the cryptocurrencies
- The customer service can be contacted during weekdays only
- Deposits and withdrawals attract charges
3. eToro – Broker with Widest Choice of Cryptocurrency Assets in the US
US traders looking for a broker with a wide selection of cryptocurrencies should consider eToro. You can diversify your trading portfolio across up to 37 cryptocurrencies, including Bitcoin, Litecoin, Ethereum, Dash, Bitcoin Cash, and more.
Besides being a cryptocurrency broker with vast offerings, eToro also connects traders globally through its social trading platform to interact and share trading ideas. It also features copy trading, whereby you can mirror trades of other successful traders with higher potential for profits. In addition, learning resources are plenty to grow your skills.
Unfortunately, cryptocurrency trading at eToro attracts high charges. Its minimum first deposit requirement is only $50, and on top of it, you will not pay a deposit fee. You can test it using its demo account before signing up for the live one. Should you encounter any challenges, eToro has a dedicated support service with a fast response when contacted. However, they operate during weekdays only.
- Wide selection of cryptocurrencies
- Low minimum deposit
- World-class copy and social trading platforms
- Charges withdrawal fees
- Trading cryptocurrencies attract high fees
4. Interactive Brokers – Best Crypto Broker for Bitcoin Trading in the US
Interactive Brokers has a long track record and is known not only in the US but globally to host some of the quality trading tools. Among the US-based cryptocurrency brokers, Interactive Brokers has the biggest trading platform. What’s more, trading cryptocurrencies with it attract low commissions starting from $0.12% to 0.18% of your trade’s value. There are no spreads, markups, or custody fees at Interactive Brokers.
The cryptocurrencies offered at Interactive Brokers are Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Another element that makes this broker stand out is its powerful, groundbreaking platforms available on the web, desktop, and mobile devices.
There is no minimum deposit requirement at Interactive Brokers, meaning you can start trading cryptocurrency with any amount you can afford. It’s a no-brainer that this broker is a perfect choice for budget-conscious cryptocurrency traders in the US.
That being said, get the best experience with Interactive Brokers. Utilise its top-tier learning and research resources and minimise the challenges standing in your way to become a successful cryptocurrency trader in the US.
- Low commissions for cryptocurrency trading
- Biggest cryptocurrency trading platform in the US according to its daily transactions
- Top-tier research and educational materials
- Support service operates only five days a week
- Challenging platform to navigate which can inconvenience newbies
5. TD Ameritrade – Cryptocurrency Broker with the Lowest Trading Fees in the US
TD Ameritrade has an intuitive design Thinkorswim platform that allows access to cryptocurrency spot and futures contracts. We like the fact that this broker is fair when it comes to trading charges.
For instance, there is no minimum amount of deposit required after signing up for a cryptocurrency trading account. Additionally, cryptocurrency trading is commission-free. Although this broker charges spreads, rest assured that they are among the lowest in the US market.
Whether you are a beginner or professional cryptocurrency trader in the US, the Interactive Brokers platform is customisable to suit your needs. The platform also hosts excellent research materials and learning content to help you succeed.
Lastly, there are no inactivity fees at Interactive Brokers. It is also very transparent with the charges to expect, which is one of the elements that raises its bar high. So, take your time to review this cryptocurrency broker and ensure it matches your trading needs before committing.
- No minimum deposit requirement
- no hidden charges
- Intuitive design Thinkorswim platform
- Funding fees are relatively high
- No negative balance protection for US inventors
How to Choose the Best Crypto Broker in the US
Finding a cryptocurrency broker in the US requires thorough research that involves testing and comparing the brokers’ features. The process could take hours and days to finally have a suitable choice. Because of this, our research team decided to conduct their due diligence and recommend the best cryptocurrency brokers in the US to choose from.
If you decide to not rely on our recommendations and conduct the research yourself, keep in mind that there are factors to consider when choosing a cryptocurrency broker. These include:
Security is paramount when choosing a cryptocurrency broker in the US. You will never know which broker is legitimate and which one is not if you do not confirm their credibility. For this reason, make sure a broker for cryptocurrency trading in the US is regulated by the National Futures Association (NFA) or the Commodities Futures Trading Commission (CFTC).
A licensed and regulated cryptocurrency broker in the US will also provide the best trading environment since they adhere to the stringent regulations of these authorities. Moreover, you will avoid the risks of falling victim to scammers who have dominated the US financial market.
Naturally, if you are a cryptocurrency trader, you should find a broker with a wide array of cryptocurrencies to choose from. Most of the brokers, if not all, offer additional assets for profile diversification. You should take advantage of these to maximise your chances of earning more profits.
A broker may host plenty of cryptocurrencies, but without enough support, your potential for profits is still low. Therefore, ensure a cryptocurrency broker in the US hosts adequate trading tools that complement your skill level. This includes research materials and educational content to bring out the best in you.
Additionally, speed is an essential element when trading cryptocurrencies in the US. So, make sure you also consider this when choosing a cryptocurrency broker. The broker should also have a demo account, especially if its fees are high, to avoid spending your money before being assured of its suitability.
It is important that you budget for your cryptocurrency trading activities and choose a broker that fits into your budget. The good news about trading cryptocurrencies with online brokerage firms is that most of them do not charge commissions. However, you will pay spreads, which vary with a broker. Therefore, make sure the charges are affordable for cryptocurrency trading.
Also, there are additional charges and requirements to confirm, including minimum deposit requirement, financing costs, inactivity fees, and transaction charges. Simply put, ensure there are no hidden costs that may inconvenience your activities in the long run.
As mentioned earlier, choosing a cryptocurrency broker in the US is a challenge, and you must be entirely sure that they are the best for you. Therefore, even though a broker may check all the boxes of what you are looking for, consider other traders’ opinions about it. You can get honest reviews from Google Play, App Store, and Trustpilot, then analyse them to make the best decision.
Trading cryptocurrencies in the US requires a licensed and regulated broker by the National Futures Association (NFA) or the Commodities Futures Trading Commission (CFTC). Such brokers are safe for your funds and provide access to various cryptocurrencies that you can use to diversify your portfolio. Examples of the best cryptocurrency brokers in the US are listed in our mini-reviews above.
Various cryptocurrency brokers are fully regulated in the US by the National Futures Association (NFA) and the Commodities Futures Trading Commission (CFTC). However, the best ones are referenced in our mini-reviews above, and you simply have to choose based on your trading requirements.
Absolutely. Buying cryptocurrency through a broker in the US gives you more opportunities to make profits. However, you must ensure that the broker you intend to use offers the asset and is regulated in the region.
The role of a cryptocurrency broker is to connect you to various exchanges where you get to choose cryptocurrencies to trade. The broker acts as an intermediary between you and the security’s exchange and can even execute trades on your behalf. They also provide traders with advice and support them with the necessary tools to maximise their profit potential.
Most brokers for cryptocurrency trading in the US do not charge commissions but spreads. You will also find others with no minimum deposit requirement, allowing you to trade at low costs. Simply put, there are no cryptocurrency brokers that offer free trading since, just like you, they are also after profits.
To start cryptocurrency trading, you must first understand the crypto market. Therefore, choose a suitable cryptocurrency broker in the US from our list above and access their learning resources. You can also create a demo account (for brokers offering it) and practise cryptocurrency trading until you are ready to sign up for a live trading account and invest real money.
You can start trading cryptocurrency with as little as $10 since brokers’ minimum deposit requirements vary. For instance, if you choose a broker with no minimum deposit requirement, you are free to deposit any amount you can afford and trade.
Cryptocurrency has become a controversial topic among US investors these days, although there are debates about it being a risky investment. While this is true, you shouldn’t be discouraged since there are ways to mitigate those challenges. Settling for the best cryptocurrency broker in the US is the first step towards your success as a cryptocurrency trader. Therefore, choose a crypto broker from our list above and kickstart your cryptocurrency trading venture on a good note.