The best automated crypto trading platforms allow you to trade using algorithms such as bots or expert advisors. Trading can be done with a CFD broker or via an exchange. Popular platforms include MetaTrader 4 and captailise.ai
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These brokers have platforms to trade crypto using algos
| Broker | Our Rating | Regulation | Standard EUR/USD Spread |
Standard GBP/USD Spread |
Standard AUD/USD Spread |
Raw EUR/USD Spread |
Raw GBP/USD Spread |
Raw AUD/USD Spread |
Commissions (USD Base) |
MetaTrader 4 | MetaTrader 5 | cTrader | Execution Speed | Minimum Deposit | Currency Pairs | Crypto CFDs | Retail Leverage | Prof. Leverage | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
8.50 |
FCA,ASIC, CySEC,SCB |
1.0 | 1.0 | 1.2 | 0.06 | 0.73 | 0.27 | $3.50 |
|
|
|
143ms | $100 | 40+ | 250+ | 30:1 | 500:1 |
|
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8.17 | ASIC, VFSA, FSA-S | 0.93 | 1.08 | 0.92 | 0.13 | 0.21 | 0.12 | $2.25 |
|
|
|
79ms | $0 | 90+ | 10+ | 500:1 | 500:1 |
|
|
8.33 |
FMA, VFSC ASIC |
1.0 | 1.32 | 1.11 | 0.10 | 0.42 | 0.21 | $3.50 |
|
|
|
94ms | $100 | 60+ | 12+ | 30:1 | 200:1 |
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The brokerages we reviewed below were chosen specifically for the depth of their cryptocurrency offerings, variety of automation and trading platforms and accessibility across provinces to Canadian traders.
Eigthcap has nearly 100 cryptos to trade
Eightcap separates itself from most other brokers on the list due to the large range of crypto pairs they offer. In addition to crypto, they have a good range of other CFD products and trading platforms.
Eightcap Trading Platforms
The breadth and depth of its platform offerings set Eightcap apart from the competition. In addition to popular standbys Broker For MT4 and MetaTrader5, Eightcap also allows crypto traders with a Standard account to open and close positions using TradingView however note that TradingView does not allow automation. Capitalise.ai is another trading platform option in its own right and is especially suited to automated trading since you can create hundreds of algos with no coding knowledge. Alternatively, crypto enthusiasts have the option to trade via the BK Crypto Crusher platform, which offers crypto traders a unique dashboard complete with advanced trading tools and ideas for crypto trading strategies.
For those seeking to Automated Trading App their trading, Eightcap has the necessary integrations to develop, test and launch social trading, copy trading or algorithmic trading strategy. Capitalise.ai ensures that any trader can design custom automation through its proprietary code editor, while those exploring algorithmic trading have access to The Amazing Trader and its powerful, pre-made trading tools. MetaTrader4 users have the option to track the market with MetaTrader Signals for a social or copy trading approach.
Eightcap Account Types
Eightcap offers Canadian crypto traders the option of two different account types: Standard and Raw. These two types of accounts are more designed for forex traders since traders can choose between a commission and no commission accounts with forex, crypto trading products are spread only products. That said if you wish to use TradingView, you will need to use a Standard Account.
Regardless of which account you use; when it comes to forex both operate on a no-dealing desk model and execute trades at ECN-like speeds. The Standard account variable spread starts at 1.0 pips, while the Raw account offers a tight 0.0 pips when forex trading. Eightcap Standard account users pay no fees or commissions – just the spread. Raw account holders, however, will owe a commission of CAD$7.00 per round-turn trade for every 100K lot.
When it comes to Crypto trading, spreads for Bitcoin start at 12 however due to the highly volatile nature of crypto, average spreads are much higher.
Eightcap Crypto Products
Canadian crypto traders have access to over 86 cryptocurrencies through Eightcap, including Bitcoin (BTC), Cardano, Dogecoin (DOGE) and Solana. Spreads for direct trading start at 12 for Bitcoin – one of the lowest of any broker we reviewed – to 0.45 for Ethereum (ETH). Crypto CFDs are also available.
TMGM Offers the Highest Leverage with MetaTrader 4 to Automate Trades
TMGM uses the MT4 platform to provide traders access to the markets through their excellent ECN services. The MT4 platform is one of the best options if you want an automated crypto trading platform for its ability to use Expert Advisors to execute your trades or protect your open positions. You also get access to high-leverage and 15+ crypto markets, making TMGM an attractive choice if you want a higher-leverage broker to trade cryptos.
Key Strengths
TMGM Offers an Automated Crypto Trading Platform with High Leverage
In Canada, leverage is capped to 1:50 by the CIRO, meaning you need more funds in your account to meet the higher margin requirements. Unless you want to trade cryptocurrencies with high leverage, then you should choose TMGM as your broker, which is regulated by the VFSC entity that allows Canadian traders to trade with leverage up to 1:20 on crypto markets (they allow up to 1:500 on the forex markets). With a choice of 20 of the most popular cryptocurrencies worldwide and high leverage, TMGM is our top choice for high-leverage crypto trading.
To take advantage of the leverage, you can use the MetaTrader 4 platform to automate your crypto trades. The MT4 platform uses Expert Advisors (EAs), which are programmable robots that can execute your trading strategies by the rules you set them. So if you are an algo trader, then you can easily transition your strategies with the MT4 platform to trade Crypto.
Automating your crypto trading can be helpful because you can take advantage of the fact that crypto markets never close, so your EA can run 24/7 executing your strategies in all timezones, helping you trade in more liquid time zones like the European trading sessions.
What we like about TMGM is that they offer a free VPS service if you deposit at least $3,000 when you open an account. This is helpful for algo traders because the VPS allows you to install your Expert Advisors so you can run them 24/7 without having to have your own computer turned on. You just log into the VPS remotely to monitor your EAs and your trading, and this is the best way to take advantage of the crypto markets 24/7 trading times.
Crypto Products & Spreads
TMGM has 20 cryptocurrency markets available to trade which includes the most popular cryptos like Bitcoin, Ethereum, and XRP. You can trade these markets 24/7, so if you like to trade in your spare time (outside of working hours), then you can take advantage of the crypto markets with TMGM, unlike the forex and stock markets which close for the weekend.
Naturally, Cryptocurrencies are seen as a high-risk asset, so most brokers (including TMGM) have the leverage capped at 1:20.
The broker offers two trading accounts which allow trading crypto, and these are the classic and Edge accounts. These accounts normally offer different pricing structures for the forex markets, yet when it comes to focusing on the crypto markets, both accounts offer the same pricing (spread-only model). So no matter which account you choose, you receive the same benefits, and you’ll only be paying the spread charged (this includes the Edge account, which is normally charged a commission to trade).
TMGM offers competitive spreads from 2.1 pips with no commissions on the crypto markets. You’ll find that popular cryptos such as Bitcoin have a typical spread of 3.1 pips and Ethereum at 4.0 pips.
Our Verdict on TMGM
You can access a solid range of cryptocurrencies on TMGM with competitive spreads and high leverage, making crypto trading more accessible for retail traders. Through the MT4 platform and TMGM’s VPS service, the broker offers you a top solution to automate your trades 24/7 if you are an algo trader. With these benefits, TMGM is our best broker for high leverage on MetaTrader 4.
Fusion Markets Has MT4 and MT5 for crypto trading
Fusion is primarily a forex broker known for its low commission fees when trading forex. The broker however does offer a good range of cryptos that you can automate your trading using expert advisors through the MetaTrader 4 and 5 platforms.
Fusion Markets Trading Platforms
One way Fusion Markets passes saving on to traders? Foregoing a proprietary trading platform in favour of MetaTrader4 and MetaTrader5. If it’s not broken, as the saying goes, then why fix it?
Crypto traders seeking to automate their trading strategies can use the internal code editor, MetaEditor, included in the MetaTrader4 trading terminal to develop and test their own Expert Advisors using custom technical indicators and scripts. Minimal coding know-how? No problem. Both trading platforms include detailed tutorials to help novices gain familiarity with the MQL5 and MQL4 languages. And because developer Meta Quotes has released the source code, third-party integrations apps and robots to facilitate automated trading abound. Even better, MetaTrader 4 supports integrations designed to automatically hedge positions, allowing traders to outsource risk management.
For those with advanced coding skills, MetaTrader4’s Python package allows for integration with MetaTrader5 for even more powerful technical indicators and trading analytics.
VPS hosting ensures that any expert advisors or bots have high-speed, low-latency access to the market, no matter what time of day.
Fusion Markets Account Types
Canadian crypto traders who opt for Fusion Markets can choose between a Classic and a Zero account. In truth, it won’t matter which trading account you choose unless you wish to trade forex where commission costs may apply. Both account types operate on a no-dealing desk model and execute trades at ECN-like speeds using straight-through processing. The Classic account variable spread starts at 0.8 pips, while the Zero account goes as low as 0.0 pips.
Fusion Markets Classic account holders pay only the spread – no fees or commissions. Zero account holders, however, pay a commission of CAD$6.00 per round-turn trade for every 100K lot.
Fusion Markets does not accept clients from Ontario.
Fusion Markets Crypto Products
Canadian crypto traders will find the broker’s range of crypto offerings compelling, particularly in light of the generous leverage: 5:1 for major cryptocurrencies, including Litecoin, Bitcoin (BTC) and Ethereum (ETH). Fusion Markets also allows the trading of crypto CFDs.
While the range is not as extensive as with Eightcap, they still offer all the most popular cryptos for trading vs USD.
Binance
Availability: All provinces, except Ontario
Though perhaps best known for its Canadian roots – CEO Chengpeng Zhao emigrated to Vancouver as a child and graduated from McGill – Binance has expanded to become the largest crypto trading platform by volume in the world. In addition to cryptocurrency and crypto CFDs, the exchange led the way in making crypto accessible to the public, and Binance is now a one-stop-shop for retail investors hoping to trade cryptocurrency, purchase NFTs, and bridge the gap between the blockchain and conventional banking and much more.
Binance also pioneered trading in crypto derivatives, and now offers a range of products that includes everything from futures to options to vanilla options to leveraged tokens to CFDs. Crypto traders looking to hedge their positions have access to a full range of asset classes to mitigate risk.
Like other trading platforms and exchanges we reviewed, Binance uses a maker-taker model to assess fees, with percentages increasing for takers as trade volume rises. Makers and takers at the VIP 1 level, for example, will pay a commission of 0.1% for a 30-day trade volume below 1 million BUSD. At the VIP 5 level, however, where traders are moving up to 200,000,000 BUSD, makers pay .06% in fees, while takers pay .08%.
Deribit
Availability: All provinces, except Ontario
Fees: Deribit operates on a maker-taker fee structure, meaning that commissions vary depending on whether an order adds or subtracts liquidity from the exchange’s overall order book. The quickest means of determining whether a trade qualifies as a maker or a taker? Order type. Market orders will always be executed as ‘takers’, while limit orders are makers or takers. Depending on the type of product, makers can expect to pay approximately 0.03% of the value of their trade, while fees for takers begin at .05%.
One of the oldest crypto CFD trading platforms, Deribit stands out for the breadth of its product offering, which includes options, futures, CFDs and several other crypto derivatives not commonly seen elsewhere. Designed primarily for experienced and professional traders, the platform features several advanced order types: limit orders, stop limits, stop markets and post only. And while Deribit itself does not feature off-the-shelf trading automation, algorithmic traders have to option to build their own or integrate third-party trading bots. Perhaps as a result of its focus on derivative products, Deribit connects to only two cryptocurrency exchanges: Bitcoin and Ethereum.
One unusual feature: Deribit does not allow users to fund trading accounts via fiat currency or credit card. Instead, the platform accepts Bitcoin (BTC) or Ethereum (ETH). And while Deribit offers both desktop and mobile app formats for its trading interface, the complexity of the trading tools seems to drive most users to the desktop.
FTX
Availability: All provinces, except Ontario
Fees: Like competitor Deribit, FTX charges users a percentage commission on trades that varies depending on whether the trade adds or subtracts liquidity from the deal book. Unlike Deribit, however, FTX also takes trade volume into account when calculating trading fees, with larger trades incurring a slight discount. In general, fees for makers will range from 0.0% to 0.020%, while takers can expect to pay between 0.070% and 0.040%. Professional traders and those who stake FTT tokens enjoy rebates on maker transactions.
Singapore-based FTX has a more limited collection of cryptocurrency exchanges on offer than other trading platforms we reviewed – just 24 – but compensates with a wide range of financial products. Not into spot trading crypto? No problem for FTX, which includes options, futures and CFDs among its available derivatives.
The real draw, however, is the impressive array of automation available to crypto traders using the FTX platform. In addition to the platform’s own, free automated trading bots, FTX has partnered with some of the best-known algorithmic, social trading and copy trading tools. Bots like 3commas provide all-around support for automated trading, while BitUniverse enables crypto grid trading and TokenBot allows mirror trading over the FTX exchange via Telegram.
FTX also provides several portfolio management options, including Good Crypto, which also functions as a trading terminal, Compendium.ai and 1Token for enterprise portfolio management.
Kucoin
Availability: All provinces
Fees: Like other cryptocurrency exchanges, Kucoin uses a tiered maker-taker system to assess trading fees based on the effect of trade on overall liquidity. Rates also vary depending on the type of asset. Trading directly on the spot crypto market, for example, carries lower fees than the crypto futures market.
The self-titled ‘People’s Exchange’, Kucoin strives to make trading on cryptocurrency exchanges accessible to as many users as possible. Given that the trading platform now operates in over 200 countries and boasts 10 million users, it’s arguably doing a bang-up job. That said, its less-than-straightforward interface and sophisticated trading tools might make it better suited to advanced traders. In particular, the ability to trade cryptocurrency on margin, a feature that can lead to significant gains with solid trading skills – or painful and expensive losses for new traders.
Kucoin also double-duty, offering crypto traders both a trading platform and a selection of home-grown, off-the-shelf automated trading bots catering to both beginners and advanced traders. Kucoin’s Spot Grid bot, for example, mitigates risks for those new to crypto trading by reducing the impact of market volatility. The futures grid, on the other hand, applies grid trading to cryptocurrency futures, allowing traders to go short or long automatically. Finally, Kucoin’s Infinity Grid bot works to control bullish volatility in spot crypto trading.
Other bots available on Kucoin focus on maximizing long-term investment return. The platform’s Smart Rebalance bot aims to help traders maximize gains over time and redistribute short-term risk by automatically trimming winning positions and purchasing other assets to maintain a balanced portfolio. Meanwhile, Kuncoin’s DCA bot enables crypto traders to maximize their investment by buying assets at preset intervals to distribute the purchase price.
Bitsgap
Fees: Bitsgap does not charge a commission to use its trading terminal. Instead, crypto traders pay a monthly subscription fee ranging from US$24 to US$123 per month depending on the number and type of automated trading bots in use.
Founded in 2017, Estonian crypto trading platform Bitsgap aims to make trading cryptocurrency as accessible as possible. With access to over 25 crypto exchanges, including Binance, Bittrex, Liquid, Bitfinex and Kraken, as well as proprietary trading bots tailored to each, Bitsgap makes getting started in crypto trading straightforward for beginners.
For more advanced traders, Bitsgap offers an impressive array of automation designed to optimize performance on specific exchanges or level up a particular trading strategy. Users at any subscription level have access to Bitsgap’s arbitrage bot, as well as GRID bots and dollar-cost-averaging (DCA) bots. As subscription fees increase, so does the sophistication of the bots; pro-level subscribers can take advantage of unlimited smart orders, as well as advanced GRID lots with stop-loss, trailing loss, trailing stop and take-profit functions.
Mobile traders take note: Bitsgap touts itself as a cloud-based trading solution optimized for the web and offers neither desktop nor mobile app formats.
Pionex
While technically an exchange, we’ve chosen to focus on Pionex as a developer of some of the best crypto trading bots available. A free Pionex account gives access to all eighteen of the platform’s trading robots at a very attractive fee of 0.5% per trade, irrespective of size. Even better, each of the trading bots comes with a detailed tutorial designed to make trading with automation accessible to beginners.
Pionex’s collection of crypto trading bots includes automations dedicated to:
Trality
Whether you’re a Python expert or a casual trader or somewhere in the middle, Trality’s code editor enables you to build the automated trading bot you need for your specific strategy. Experts can freely code to their specifications inside Trality’s powerful code editor using and backtest their creations before live trading. Novices, on the other hand, can take advantage of Trality’s Rule Builder tool. Using pre-defined strategies and existing technical indicators, non-coders have the advantage of detailed coding guides and tutorials to arrange their strategies.
One of Trality’s most interesting and unique features: is a bot marketplace open to all Trality users. Members can choose to invest in promising bot ideas in exchange for access to the finished product.
Trality-designed automation enjoy wide acceptance across major cryptocurrency exchanges, including Binance, Bitpanda, Kraken, Coinbase, FTX and Coinbase US.
3commas
Similar to Pionex and Cryptohopper, also reviewed in this article, 3commas offers crypto traders a range of services, including portfolio management and trade execution, but stands out for the sophistication and depth of its automated trading bots. In addition to a smart trading terminal capable of managing multiple cryptocurrency exchange accounts, 3commas also ensures that traders enjoy a range of order types, such as take-profit and stop-loss orders, as well as conditional limit orders.
3commas crypto trading bot selection also covers all the bases and includes:
3commas also supports social trading and copy trading via its Crypto Signals integration, which allows traders to integrate social signals into crypto trading bots with no coding knowledge.
Finally, of all the platforms and automation developers we reviewed, 3commas offers crypto traders access to the broadest range of crypto exchanges: Binance, OKX, KuCoin, Coinbase Pro, Binance US, BitMEX, Bitfinex, Bitstamp, Bittrex, Bybit, Crypto.com, Deribit, FTX US, Gate.io, Gemini, Huobi, Kraken and Poloniex.
TradeSanta
Arguably the most automated of the trading platform providers, TradeSanta offers a completely self-propelled bot creation process with absolutely no coding required. In other words, TradeSanta automates the automation process. Detailed tutorials and a comprehensive FAQ section complete with video explainers round out the trading platform’s reputation as an excellent entry point into automated trading for beginners still learning the ins and outs of different trading strategies.
To that end, TradeSanta focuses on schooling crypto traders on the main automated trading strategies, the necessary technical indicators and setting up bots across exchanges using API keys. Its collection of bots – a GRID bot, DCA bot and futures bots – may lack complexity, but not performance. Traders accustomed to using TradingView for market signals will be pleased to know that TradeSanta bots can be configured to incorporate customized trading signals.
TradeSanta account holders can develop as many bots as a particular pricing plan allows, starting from 49 bots for a Basic Plan and continuing to unlimited bots for a Maximum Plan.
Cryptohopper
From a trading platform to an automated trading bot to a portfolio manager, Cryptohopper tries to be all things to all traders – and almost succeeds. We say ‘almost’ because it’s by far best known as creating some of the best crypto trading bots, with any additional services coming a distant second or third.
Cryptohopper operates a monthly subscription service model, and traders choose between one of four plans: Pioneer, Explorer, Adventurer, or Hero. At the Pioneer level, traders receive basic functionality, including manual trading, charts and technical indicators, access to the portfolio management dashboard, and trading stats. The facility to auto trade with a bot is only possible with the paid tiers, which also offer the ability to copy trade, backtest, add stop-losses and price target, and enter short trades.
Cryptohopper’s collection of bots includes automation that supports grid trading and DCA trading strategies. The trading platform also offers a unique AI-based solution for evaluating and backtesting trading strategies that it claims “hedge funds don’t want you to know about”.
Cryptohopper’s bots work on all major crypto exchanges including: Binance, FTX, OKX, KuCoin, Coinbase Pro, Bitarvo BitMEX, Bitfinex, Bitstamp, Bittrex, Bybit, Huobi, Kraken and Poloniex
What is Automated Crypto Trading?
For those with the technical know-how, cryptocurrency trading bots can take a manual trading strategy to the next level: increasing trade volumes and amplifying profits. The best automation can spot market opportunities that even the most advanced charting experts might miss and are always awake to monitor the markets. And, unlike humans, automated trading bots don’t make decisions based on emotion which, as anyone familiar with day trading knows, can mean the difference between a smart trade and a losing one.
While forex traders and other retail investors have long used automation to support advanced trading strategies for diverse asset classes, including stocks, exchange-traded funds (ETFs), commodities and indices, they’re increasingly popular amongst those trading cryptocurrencies.
Whether you build your own automated trading bot or take advantage of pre-existing automation largely depends on the kind of crypto investing you prefer and your overall day trading strategy.
How Do Automated Trading Bots Work?
The word ‘robot’ notwithstanding, automated trading bots are actually a form of artificial intelligence based on machine learning. A human being writes a piece of code designed to collect and analyse market conditions in real-time. The algorithms within that code then apply that analysis to a predefined trading strategy to produce trading signals. The more accurate the trading signals, the more profitable the bot.
The best crypto trading bots will source market intelligence from a variety of sources for the most comprehensive, up-to-date view of the market. The quality of the artificial intelligence scanning and synthesizing market data matters because most bots help you win in the market make by correctly predicting fluctuations in the future price of cryptocurrencies across multiple exchanges.
But what good is all the information if you can’t use it? That’s where the ‘automation’ comes in. Not only do bots synthesize vast quantities of data in seconds, they open and close positions on your behalf based on the trading signals generated by their analysis.
Experienced programmers may write their own bots directly using a coding language like Python, while those with less advanced knowledge can use a platform like Trality to create custom automations. For investors implementing a specific trading strategy, such as social trading or copy trading, it may make sense to work with pre-designed bots that integrate into crypto trading platforms and allow investors to copy the strategies.
Once you’ve designed or chosen the best crypto trading bot for your particular trading strategy, you’ll use it to connect a cryptocurrency exchange account and a trading platform via an application programming interface (API). To ensure that only you and your trading tools have access to your accounts, you’ll use a secure API key generated by the exchange account to link up with both the automated trading bot and the trading platform.
After connecting your cryptocurrency exchange account and trading platform via the automated trading bot, you’ll need to tell the bot what to do by adding a trading strategy. Remember all that research on market conditions your bot has been busily collecting? Now that you’ve applied a strategy, it’s going to run all the data through your unique parameters to decide what positions it should open or close on your behalf.
Because an automated trading bot – as the name implies – operates entirely independently once it’s up and running, it’s important to backtest your trading strategy using historical data.
What Kind of Automated Trading Bot Do I Need?
Understanding the best crypto trading bot for your skill level, risk appetite and account needs depends on a number of factors:
If you’re interested in trading crypto directly, you’ll want to focus on arbitrage bots designed to monitor multiple cryptocurrency exchanges simultaneously to identify price changes and execute trades accordingly. Alternatively, you may want to trade via a trading platform dedicated specifically to cryptocurrency exchanges that allow automation.
If, on the other hand, you’re following the crypto market along with several others, or think cryptocurrency carries too much risk for a direct investment, you may be better served opening an account with a reputable online broker that supports cryptocurrency CFDs and trading automations designed for multiple asset classes.
Cryptocurrency Exchanges vs Trading Platforms
Crypto traders focusing solely on digital currencies have two options when it comes to trading: investing directly with an exchange or using a platform.
Cryptocurrency Exchanges
A cryptocurrency exchange is exactly what it sounds like: a financial market dedicated to buying and selling digital currency, such as Bitcoin, Ethereum and Binance coins. It functions just like any other exchange, and all transactions take place on a secure blockchain verified by individual users. Some of the best-known crypto exchanges are Coinbase, CoinBerry and BitBuy.
To trade directly on an exchange, you’ll need to follow just a few steps. Once open an account with the exchange itself, make any required minimum deposit fund with either fiat currency or crypto. Next, set up a hard or soft wallet to securely store your investments and then get to work opening and closing positions.
Cryptocurrency Trading Platforms
A cryptocurrency trading platform functions much like a conventional trading platform, such as MetaTrader4 or TradingView, but connects only to cryptocurrency exchanges. Using a specialized trading platform carries a number of advantages, including access to advanced technical analysis and specialized trading tools, including the best crypto trading bots.
Trading platforms designed for crypto traders range from straightforward and intuitive to highly complex, but all purport to add value by enhancing the overall trading experience with features not available in most exchange accounts. Trading via a platform also enables live trading across multiple exchanges and currencies. Simultaneously trade in Bitcoin, Litecoin and Solana in one exchange while hedging a position with altcoins and stablecoins backed by fiat currency on another.
For beginners not ready to commit to a particular exchange, most trading platforms offer paper trading accounts as a ‘try before you buy’ option. Similar to the demo accounts offered by forex and other CFD trading platforms, paper trading accounts allow novices to explore the market, test out trading strategies and experiment with automated trading bots without risking any actual capital.
Even manual traders have reason to appreciate crypto trading platforms. Many offer more sophisticated technical indicators and advanced charting options tailored specifically to crypto trading, or a more user-friendly interface than the crypto exchanges themselves.
For most crypto traders, however, automation are the biggest draw when it comes to trading on a platform. From bots to optimize your existing strategy to algorithms dedicated to the best in social trading, to custom automation you write yourself in a code editor, there’s a trading tool for every experience level or strategy.
Disclaimer
Canada’s Investment Industry Regulatory Organization of Canada (IIROC) has approved trading in cryptocurrency and CFDs, as well as automated trading using expert advisors and bots, rules vary from location to location. Before opening a trading account – even a demo account! – with an online brokerage, we recommend verifying whether the broker operates in your province and supports the specific asset class you’re interested in trading.
Resist the temptation to open a trading account with an unlicensed or regulated broker if you can’t find the combination of trading products and features you most want. Crypto trading carries a degree of inherent risk due to high volatility in the markets, but investing via a licensed and regulated broker ensures that you receive certain guaranteed protections.
Be aware that trading directly on cryptocurrency exchanges or trading platforms carries a high degree of risk, both in terms of how you trade and the protections available to safeguard your investment. Trading cryptocurrency via an exchange or an automated platform means that your investment is only as secure as your hard or soft wallet and the blockchain verifying your transactions. In case of loss, you may have no recourse. Regulated brokers, on the other hand, store client funds separately from the broker’s own liquidity, and are required to carry insurance. All forex broker comparisons therefore should short-list regulated brokers only either onshore or offshore.
