3 Best Forex Brokers to Buy Bitcoin in Ireland (2020)

In a growing trend that has been seen over the last few years, more and more online forex brokers are including cryptoassets in their listing and providing features to allow for cryptocurrency trading.

This is unsurprising as the demand for cryptocurrency and the hype surrounding them has been unprecedented, and today more and more Irish traders are considering the profits that can be generated by trading bitcoin and other cryptocurrencies.

Will take a look at the 3 best forex trading platforms that are providing Bitcoin trading in 2020.

What are Forex Brokers and Bitcoin Trading?

Forex brokers are online financial service providers that allow traders to engage with global forex markets, and facilitate access to tools such as margin trading in order for traders to be able to develop more advanced strategies and to generate higher profits.

Bitcoin is a fully-digital investment asset that was created just over a decade ago, and that is one of the most exciting areas of financial trading online today.

Bitcoin trading is the process of buying and selling bitcoin through brokers or exchanges, with the goal of creating trades that generate a profit individually, or developing strategies that deliver a net profit over a number of trades.

While there are a number of forex-only brokerages online today, a growing trend we’ve seen over the past few years is that a number of forex platforms have begun to provide Bitcoin trading functionality for their users.

Choosing the Best Bitcoin Forex Brokers for Irish Traders

Trading fees play a big role in the overall profitability that a trader experiences, and there was a surprisingly large deviation between the most expensive and the cheapest trading platforms online.

Transparency is important to allow for traders to understand the platform the training with, and to have faith in the reputation of a platform.

Orderbook Volume is important because the higher the liquidity available at a platform, the more optimal entry and exit points will be available for traders.

Security Is a critical component of the calculation of which trading platforms to use because there is no point in generating profit if you don’t know the platform that you’re using will be able to protect your funds from hackers.

Accessibility is important because the ability to access markets and to be able to enjoy the same opportunities that large traders and investors are able to is one of the main concerns and considerations for many retail trailers.

PrimeXBT

PrimeXBT lists a wide range of traditional assets that include forex pairs such as GBP/CHF, EUR/JPY and AUD/USD, stock indices such as UK100, NASDAQ and GER30, commodities such as gold and oil, and cryptoassets such as BTC, ETH, XRP, LTC, and EOS.

PrimeXBT has become the leading multi-asset margin trading platform in the world today, providing advanced margin trading functionalities for global traders, and managing up to $2 billion every day in global trade.

The platform provides enhanced accessibility by being the only major trading platform online to be fully KYC-free, and requiring nothing more than an email address in order to set up an account and begin trading.

PrimeXBT’s security is also advanced and employs bank-grade mechanisms that have ensured that hackers have never breached the platform and user’s funds have been safe.

PrimeXBT also offers the lowest fee schedule of any major trading platform online today with a flat rate of 0.05% applied to all trades.

IG.com

IG was set up in 1974 and is one of the largest forex trading platforms that are operating online today.

The platform provides a wide number of different asset classes to choose from including stocks, indices, forex, CFD’s, ETFs, and options.

IG.com’s platform is secure and uses strong security to ensure that it has never been hacked, and while IG is a good platform to trade for a number of traders, there are also a few concerns for many others.

For a start, it takes between 1-3 days before an IG account to be accepted, and while for larger institutional investors this may not be such an issue, many retail traders are looking for easy and fluid options for accessing global markets.

As well as this, IG’s fees are much higher than many other platforms, and again for large institutional investors this may not be such a concern, however for many small retail traders the difference between an expensive or cheaper trading platform can make or break the profitability of the strategies.

While these 2 concerns are significant and should be taken on board, this is not to say that all traders will find IG not to be a suitable solution for trading cryptocurrency from a forex broker, however for anybody seeking this kind of platform it is worth understanding IG prior to setting up an account.

Final Thoughts: Best Forex Brokers to Buy Bitcoin in Ireland

There are a number of options for Irish traders if they are looking for the best for the forex brokers to buy Bitcoin in Ireland, and the two platforms we have listed represent the best options available.

Forex traders are often looking for an easy way to use a forex brokerage in order to be able to access Bitcoin without having to use risky small-volume platforms.

For more information on the platforms listed above, check out PrimeXBT and IG.com.