Forex Brokers That Accept Bitcoin Deposit

Forex Brokers That Accept Bitcoin Deposit

The foreign exchange market is the biggest financial market in the world. It equally enjoys the most liquidity and is available for traders round the clock. 

The development of the blockchain and cryptocurrencies has further given the forex market another new attractive dimension. Here you will find a list of Forex brokers that accept bitcoin deposits.

  • Forex Broker List Accepting Bitcoin Deposits in 2021
  • What is Bitcoin?
  • Why Use Bitcoin? 
  • Pros and Cons of Using Bitcoin with Forex Brokers
  • The Benefits of Using Bitcoin to Fund Your Forex Trading Account
  • Cons of Trading Forex with Bitcoin

The rising recognition of bitcoin as an alternative investment asset has spurred many forex brokers to integrate bitcoin into their propositions. 

Much recently, a lot of forex brokers have started accepting bitcoins for forex trading. Some are even accepting additional numbers of digital coins.

Some forex brokers integrate bitcoin as one of their forex trading deposit and withdrawal options. 

With these brokers you can trade on a bitcoin-based account. Nonetheless, the features of these brokers may not be available to traders in countries with illegal restrictions.

Why should you trade forex with bitcoin deposits and what are the benefits and potential risks? We will explain all these questions and more in this article.

Forex Broker List Accepting Bitcoin Deposits 2021

ic markets
IC Markets
Broker TypeECN
Min Deposit$200.00
Account Base CurrencyUSD, AUD, EUR, GBP, CAD, JPY, NZD,CHF, SGD, HKD
Max Leverage 500:1
Trading PlatformsMetatrader 4/5, cTrader, Webtrader, API Trading, MAM / PAMM
Broker TypeECN
Min Deposit$100.00
Account Base CurrenyUSD, EUR, GBP, AUD, CAD, Bitcoin, Gold, Bitcoin Cash, Litecoin, Ethereum and XRP
Max Leverage 200:1
Trading PlatformsMetatrader 4/5
Think Market
Broker TypeMarket Maker Non-Dealing Desk
RegulationsASIC, FCA, FSCA
Min Deposit$0
Account Base CurrencyUSD AUD GBP EUR  CHF JYP
Max Leverage 500:1, EU Clients 1:30
Trading PlatformsMetatrader 4, ThinkTrader, Trade Interceptor
fxtm reviews
Broker TypeMarket Maker / ECN
RegulationsIFSC, FCA, FSB
Min Deposit$5.00
Account Base CurrencyUSD EUR GBP NGN
Max Leverage1:1000
Trading PlatformsMetatrader 4 and 5
Broker TypeMarket Maker
RegulationsCySec, FSC
Min Deposit$5.00
Account Base CurrencyUSD, EUR
Max Leverage1-1000, EU Clients 1:30
Trading PlatformsMetatrader 4, webtrader, HOTFOREX FIX/API

What is Bitcoin?

Bitcoin is a cryptocurrency and virtual money generated on the blockchain. 

It is online money and can be used to purchase services and goods though not all shops allow it at the moment and you can’t use it in certain countries. 

You must have seen a bitcoin in a photo before, but if it has no private code encoded in it, it is just a picture or object.

Just like in foreign exchange (Forex), Bitcoin (BTC) is commonly pegged to the U.S. dollar. 

However, unlike gold it’s not pegged to any particular asset. Currently, it is the most valued cryptocurrency and tops the trading table. 

It was launched in 2009 and since then, the price has been rising and attracting Forex traders to put it to good use.

You can now trade bitcoin through numerous forex brokerage platforms and online exchanges. 

Be cautious though to choose trusted platforms with a good reputation of ensuring security of traders’ funds.

Why use bitcoin? 

Since 2009 when it was developed, Bitcoin now has a track record of value and future potential that you can use to develop trading strategies that will help you to properly manage your risks.

Bitcoin operates through a peer-to-peer structure in a decentralized system like the forex market. However, unlike forex, it is not under the control of any central authority like the central bank or government. 

Therefore, you don’t face any taxes or related issues faced with fiat-money. 

The way bitcoin transactions are being processed online and recorded through the public ledger system is equally beneficial to the trader. 

As an investor, you may benefit also as the value keeps fluctuating and will make you a fortune if you sell at the right time at a profit.


How does Bitcoin work?

A Bitcoin is simply a computer file and you store them in a computer or Smartphone app called a ‘digital wallet’. 

You transfer your bitcoin(s) to people’s wallets and they do the same to yours and the platform records these trades in a public list known as the blockchain. 

Hence, it is easy to trace the history of Bitcoins and this prevents people from altering their transactions illegally or using someone else’s coins.

How Can People Get Bitcoins? 

You can obtain Bitcoins through three major ways and these are:

  • You can purchase with fiat currencies
  • By selling things and receiving Bitcoins payment from people.
  • By creating one with a computer through a process known as Bitcoin mining.

How are new Bitcoins created?

To aid the functioning of the Bitcoin system, people can utilize their computers to begin processing transactions to people in the network. 

These computers solve extremely complicated arithmetic problems and the owners are frequently compensated with a Bitcoin.

For this reason a lot of people referred to as bitcoin miners employ powerful computers in the process referred to as mining for a chance to get rewarded with Bitcoins if they solve the completed arithmetic problem in the process. 

To reduce the generation of more Bitcoins at a quick rate, the arithmetic gets tougher and it could take you years to obtain a bitcoin if you begin mining now. 

At times, you might end up paying a higher electric bill for your computer than the value of the bitcoin reward you get from mining.

Why do people want Bitcoins?

Since banks and governments have no control over Bitcoins, numerous people like this decentralized aspect of the coin. 

Also, you engage in transactions anonymously and no one can know what your “account” is unless you inform them. 


You can’t copy, make, fake or steal Bitcoins easily since the record for transactions are made on the public ledger system. However, you can mistakenly delete your Bitcoin wallet and lose your coins forever. 

As the value of Bitcoin keeps rising, some people think it’s unsafe to convert your real money because of unpredictable high volatility. 

Many Bitcoin holders have lost their coins due to activities of hackers on the platforms where they stored their digital money.

Pros and Cons of Using Bitcoin with Forex Brokers

Forex trading is commonly done over-the-counter in a decentralized system similar to Bitcoin and other cryptocurrencies. In spite of these similarities, they are not the same. 

While forex pairs traded in the forex market are backed by central banks across the world, the situation is different with Bitcoin or other digital currencies with only peer-to-peer governance structure.

The Benefits of using Bitcoin to Fund Your Forex Trading Account

They have decentralized Evaluations

The main benefit of funding your forex trading account with bitcoin is the absence of a central bank to alter Bitcoin values. 

This decentralized feature makes the bitcoin rates free from the influence of central geopolitics and macroeconomic problems common with fiats like interest rates or country-specific inflation.

High Leverage ratio

Many Forex trading brokers that support Bitcoin deposits offer high leverage ratios to their traders. 

Some of them can offer very high leverage ratios up to 1:1000. Online traders with experience could use this to their advantage. 

Nonetheless, you should exercise caution because leverage is a double-edged sword that can magnify your gain and loss. 

Low Deposit Amount

You can begin trading with as low as 25 USD at some Bitcoin-Forex trading companies. You must ensure the brokers are legit so that you don’t get scammed.

Low cost of a transaction  

There are no bank charges or agency fees in these trades whether international or local. 

Most online brokers equally let their work slide by as they charge you nothing for withdrawals or deposits.

Lack of geographical Boundaries

There are no boundaries when doing trades with Bitcoins as you can be in Australia and trade with someone in Africa. 

Do not forget that there are countries that forbid bitcoin transactions. So, only go with what is permissible legally in your jurisdiction.

Cons of Trading Forex with Bitcoin

Exchange Rates Differential

There are several exchanges where you can trade forex with Bitcoins and their rates are different so you should get a full knowledge of this so that you do not make errors. 

Try to find out from the Forex broker, the exchange rates they use on their platform before opening an account with them. 

U.S. Dollar Rate Risk

A prevalent norm among many brokers is to convert the bitcoin deposited by traders into USD. 

This doesn’t always favour the traders as dollars equally fluctuate. Hence, you should be cautious when making such decisions so that you are on the good side when the rates are falling or climbing.

Danger of Volatility

In the past, there has been a high display of volatility when it comes to bitcoin. Since there are no regulations, some brokers could use this to their advantage so that the trader is put at a disadvantage. 

Bitcoin Intrinsic Security Risks 

Hacking is dangerous for Bitcoins and could make you lose your Bitcoin if your broker does not have insurance protection. So, before trading, look for a broker who is regulated to guarantee the security of your funds. 

Asset Class Mixing

The system used for evaluating a cryptocurrency asset is different from the way forex assets are evaluated. 

When you use Bitcoin deposits to trade Forex, you’re introducing a new currency that could bring about profit or loss and this is a risk too just as normal Forex trades.


When you talk about Forex trading, you are referring to the exchanging of global currencies and this is the biggest market worldwide. 

With the introduction of Bitcoins and other cryptocurrencies, the Forex world has taken a new turn as top traders on that path have begun to cue into the cryptocurrency dealing. 

They now handle trades between Forex and Cryptocurrencies and this is a train you may want to hop onto too.

It is difficult to predict the rates when dealing with cryptocurrencies since there is no material platform that causes it to rise or fall like other currencies worldwide. Many keep amassing Bitcoins hoping it keeps rising and see it as a secure investment.

About This Article

Author: Mark Prosz

Sources of information and credits for this post include:

Various brokers websites that are listed in this article,