As a trading technology leader, TradeStation supports casual traders through its web-based platform and active traders through its award-winning desktop platform, all with $0 stock and ETF trades. TradeStation Crypto allows you to buy, sell, and trade bitcoin, litecoin, ethereum, bitcoin cash and XRP. TradeStation Crypto caters to both institutional and recreational clients. Read full review
Headquartered in Plantation, Florida, TradeStation is a wholly owned subsidiary of Monex Group, Inc., one of Japan’s largest online financial services providers (1). TradeStation's roots date back to the 1982, when the company was formed under the name Omega Research. The company's flagship TradeStation platform was launched in 1991, and TradeStation Group was a NASDAQ listed company from 1997 - 2011, until it was acquired by Monex Group (2).
Pricing: TradeStation Crypto features a simple pricing structure. Account balances below $100,000 pay a 0.50% maker fee and a 0.50% taker fee. Account balances over $100,000 don’t pay a maker fee, paying either a 0.25% or 0.125% fee based on account size. At this commission rate, it would cost $5.00 to buy $1,000 worth of Bitcoin (BTC).
Founded in June of 2012, Coinbase is the largest U.S.-based cryptocurrency exchange, housing over 20 million users. Coinbase is best known for its easy-to-use website and crypto trading platform, Coinbase Pro. Coinbase supports 14 different cryptocurrencies for trading, including bitcoin, ethereum and litecoin, among others.
Pricing: If buying Bitcoin from a linked ACH account, the average commission is ~1.49%. If buying Bitcoin by selling another cryptocurrency you already hold in your Coinbase Wallet (or vice versa), then the average commission is ~.50%. For example, buying $1,000 worth of Bitcoin would cost ~$15 from a linked bank account.
eToro is great for traders seeking zero-commission stock and ETF trades, an efficient platform, and access to copy trading. That said, there are hidden fees, education is sub-par, and eToro doesn't offer the same range of investments as traditional brokers. eToro's crypto offering includes 16 different coins. Although crypto fees are cheap, you can only withdraw your crypto assets with a dedicated eToro wallet.
Pricing: As an early pioneer in social copy trading, eToro was founded in Israel in 2006 as a financial trading technology developer. After launching its first product, it has since grown to service over 9 million users with an innovative platform that continually evolves to be one of the largest social networks globally, with clients in over 170 countries.
eToro charges no fees for sending or receiving transactions. Blockchain fees are applicable for sending and receiving. However, eToro does charge a conversion fee of 0.1%, set to market rates. Minimum withdrawal amounts and fees are also imposed for each type of cryptocurrency. The minimum bitcoin withdrawal amount is 0.0086 BTC and the withdrawal fee is 0.0005 units.
Kraken was founded in 2011 and offers trading on 18 different cryptocurrencies, including monero (XMR), ripple (XRP) and dash (DSH). Kraken currently offers a web platform but does not have a mobile app.
Pricing: Kraken uses a maker-taker fee schedule with price incentives based on your trading volume over the last 30 days. For example, the average customer who trades less than $50,000 a month will pay $2.60 in fees for every $1,000 in trading volume. Fees for market makers range between 0% and 0.16%, while fees for takers range from 0.10% to 0.26%. This fee schedule, is more competitive than competitors like Coinbase and Gemini.
Bittrex was founded in Seattle, Washington in 2014. Although Bittrex doesn’t provide a mobile or desktop platform, it still offers over 100 tradeable coins, including bitcoin, ethereum and litecoin.
Pricing: Bittrex has a simple pricing model, and charges a flat 0.25% on all trades. At this commission rate, it would cost $2.50 to buy $1,000 worth of Bitcoin (BTC). Higher-volume traders, those trading more than $25,000 a month, should look at Kraken for discounted pricing.
Founded in 2015 by the Winklevoss twins, Gemini is a licensed digital asset exchange and custodian built for both individuals and institutions. Gemini lets users buy, store, and sell bitcoin, ethereum, litecoin, bitcoin cash and zcash, as well as the self-named Gemini dollar.
Pricing: Gemini is much more expensive than other exchanges, charging between $0.99 - $2.99 on transactions under $200, and 1.49% on orders over $200. This means it would cost $14.90 to purchase $1,000 worth of Bitcoin (BTC). Overall, Gemini is the most expensive crypto exchange included in this guide, charging more than five times what other exchanges would charge for the same transaction.
Robinhood Crypto allows users to trade bitcoin, ethereum, bitcoin cash, litecoin, dogecoin, ethereum classic and bitcoin SV. Ten additional coins can be added to a watch list. Robinhood Crypto is best-fitted for users who trade multiple classes of assets. Read full review
Pricing: Robinhood Crypto does not charge a commission for placing crypto trades; however, it generates tiny profits from each order as it is routed. This routing practice, known as payment for order flow (PFOF), is also how Robinhood makes money from stock trades. In their user agreement, Robinhood Crypto states that they may receive activity-based rebates from Crypto exchanges, brokers, and market-makers, among other crypto intermediaries. Bottom line, since Robinhood is not transparent with its pricing structure, there is a possibility the all-in costs per trade are actually much higher than some competitors. Unfortunately, there is no way to know for certain.
Pricing Details per Exchange
Trading cryptocurrencies is becoming more widespread as investors around the globe become more comfortable with blockchain technology and the exchanges that offer online crypto trading. Security enhancements for digital wallets continue to improve as well, providing traders more confidence that buying bitcoin is safe.
When assessing security, ease of use, trading tools, and total cryptocurrencies offered, TradeStation comes out on top for 2022. That said, hopefully this review helps shed light on some of the other US crypto exchanges that also provide a good, clean, competitive offering.
StockBrokers.com 2022 Overall Ranking
Here are the Overall rankings for the 15 online brokers who participated in our 2022 Review, sorted by Overall ranking.
Explore our other online trading guides:
For the StockBrokers.com 12th Annual Review published in January 2022, a total of 3,075 data points were collected over three months and used to score 15 top brokers. This makes StockBrokers.com home to the largest independent database on the web covering the online broker industry.
In order to assess the overall trading experience, we test across a wide range of devices and operating systems.
Testing was done on devices for both Apple and Android operating systems. For Apple: iPhone XS with the most current iOS. For Android: Samsung Galaxy S9+, 6.2" 4K Super AMOLED (2960x1440) 64-bit Octa-Core Snapdragon 835 Processor 2.7GHz, 6GB RAM 6.2" with the most current operating system.
For this guide to the best online brokers for bitcoin trading, our research team closely analyzed several key factors: security (including two-factor authentication and integrated safe wallets), ease of use of the broker’s app and other platforms, and access to a variety of cryptocurrencies.
As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy. Brokers also were offered the opportunity to provide executive time for an annual update meeting.
Our rigorous data validation process yields an error rate of less than .001% each year, providing site visitors quality data they can trust. Learn more about how we test.
About the Author
1 Fidelity Sell orders are subject to an activity assessment fee from $0.01 to $0.03 per $1,000 of principal. Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Options. Supporting documentation for any claims, if applicable, will be furnished upon request.
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