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Forex

Litecoin brokers

The raise of cryptocurrencies has led hundreds (if not thousands) of different digital assets to popularity. One of the most popular ones is Litecoin, often called the “silver of crypto”, presuming Bitcoin is the “gold”. 

 

There are two main ways of trading Litecoin, either by going through a cryptocurrency exchange or by trading with a forex broker. There are several key distinction between the two options:
 
First and foremost, when trading Litecoin with a forex broker, you trade a Litecoin CFD. This “Contract For Difference” is a derivative, which mimics the price movements of the coin (the underlying asset), without you actually owning it. You can make (or lose) money trading Litecoin CFDs but will not be not be able to make payments with the CFDs you buy.
 
While this may initially appear as a strictly worse option than actually owning the coins, there are several benefits of trading this way. Forex brokers (at least the well-regulated ones) are much safer than crypocurrency exchanges and wallets. Additionally, they accept traditional payment methods, like credit cards, Paypal, Skrill, etc. where as this is not the case at most crypto-exchanges.
 
Forex brokers also allow margin trading, which isn’t always the case with exchanges. That being said, given the volatile nature of digital assets, it may be safe to approach them with caution. The leverage offered by forex brokers comes for free, compared to rates, which are sometimes charged multiple times a day at exchanges.
 
Finally the costs of trading at the two options are very hard to compare. While a broker providing Litecoin CFDs will most likely include all of its commission in the spread, exchanges collect volume-based fees of about 0.2% per side. 
 
Below is a list of forex brokers offering Litecoin CFDs. It’s worth mentioning, some (if not all of them) will also be offering Bitcoin trading, via the same principle:
 


Forex

Litecoin brokers

Broker Regulation Country Platforms Min.deposit Review
N/A Vietnam Web $100 Review
Forex

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