As the price of Bitcoin has skyrocketed past 50,000 USD, UK traders are flocking to this cryptocurrency. With wild daily price fluctuations, Bitcoin and similar altcoins like Ethereum, Litecoin, and Ripple are prime targets for day trading.
The UK recently instituted new rules that ban cryptocurrency derivatives (including CFDs) in the UK. As a result, many top day trading platforms no longer allow you to trade Bitcoin. Instead, you’ll need a Bitcoin exchange that’s built specifically for short-term trading.
In this guide, we’ll help you find the best Bitcoin trading platform in the UK in 2021. We review the 6 top Bitcoin trading platforms UK and cover everything you need to know about how to choose the right one for you.
In This Guide
We sorted through dozens of crypto exchanges to find the best Bitcoin trading platform UK. Here are our 6 top picks:
6 Providers that match your filters
75% of retail investor accounts lose money when trading CFDs with this provider.
72% of retail investor accounts lose money when trading CFDs with this provider.
Your money is at risk. The exchange holds an e-money license from the FCA.
Crypto assets are highly volatile, unregulated investment products. No EU investor protection
67.7% of retail investor accounts lose money when trading CFDs with this provider.
Let’s dive into more detail about the best Bitcoin brokers UK so you can decide which one is right for your trading style.
eToro is our pick for the overall best trading platform for Bitcoin in the UK. This crypto exchange carries 15 of the most popular coins for trading and charges no commission when you buy or sell cryptocurrency. eToro is one of the few UK brokers that is able to offer Bitcoin trading after the FCA banned CFD trading platforms from offering crypto CFDs.
Instead, eToro makes money by charging a fixed spread. This costs 0.75% for Bitcoin, which might sound high at first. But that’s because it’s a roundtrip spread – you only pay once, when you buy Bitcoin, and there’s no spread when you sell. Having a fixed, roundtrip spread like this makes it very easy to know how much a trade will cost you.
eToro’s trading platform is available online and as a mobile app for iOS and Android. It includes over 100 technical indicators and drawing tools, plus a market news feed. This Bitcoin broker also gives you access to market research from professional analysts, which can help you decide what Bitcoin is really worth.
One of the most unique things about eToro is that it includes a social trading platform. You can follow other Bitcoin traders and share trade ideas. In addition, you can easily see a market sentiment score for Bitcoin and other altcoins, and react quickly when sentiment changes. eToro even supports copy trading, so you can mimic the moves of professional cryptocurrency traders.
eToro is regulated by the UK’s Financial Conduct Authority (FCA) and offers 24/5 customer support by phone and email. This broker also offers stock, forex, ETF, commodity, and bond trading, so it’s a one-stop platform for traders who want to access a wide range of fiat markets in addition to the Bitcoin market. You can purchase your coins here for collateral to use in crypto loans.
Your capital is at risk.
For experienced traders looking to jump into Bitcoin trading, Binance is one of the best Bitcoin brokers UK. This trading platform offers a highly advanced interface for web and mobile, plus very competitive pricing for anyone who can take advantage of changes in liquidity throughout the day.
The Binance trading platform is highly customisable and enables spot trading on Bitcoin without leaving your charting window. The default charts only offer a small number of technical indicators, but Binance also offers integration with TradingView. This software enables you to create your own indicators using a custom scripting language, so the possibilities for analysis are virtually endless.
Another key aspect of Binance’s trading platform is that it gives you access to the Bitcoin order book. So, you can monitor liquidity and react instantly to changes in incoming buy and sell orders.
Binance’s pricing system can be complex, but it’s very inexpensive once you understand how to take advantage of it. Bitcoin spreads start at just 0.075% and there’s no commission for most trades. Plus, you can get a discount if you convert fiat in your account to BNB, Binance’s custom cryptocurrency, or if you create liquidity in the Bitcoin order book.
Binance is not regulated, but is widely considered to be trustworthy. The platform provides 24/7 chat support, too, so you can get help right away when you need it. Binance offers both professional and retail investor accounts.
Coinbase is one of the best Bitcoin brokers in the UK for traders who want to dive deeper into the cryptocurrency market. This platform offers trading on Bitcoin as well as 50 different altcoins, which is an enormous selection compared to other trading platforms.
Another benefit to Coinbase is that it makes it easy to start trading since the platform has an integrated cold storage wallet. You can connect a third-party Bitcoin wallet, but Coinbase’s wallet is one of the most popular and secure already.
The Coinbase trading platform is designed for beginner and experienced traders alike. It offers a customisable interface that enables you to save sets of indicators as defaults and to place trades right from your charting window. It also comes with a market news feed and access to the Bitcoin order book.
The only downside to Coinbase is its pricing structure. This trading platform charges a moderately high spread of 0.50% for Bitcoin transactions under 7,000 GBP. If you fund your transaction with a credit card, you could be on the hook for a 2% surcharge.
Coinbase is regulated by the UK FCA and is considered one of the most trustworthy cryptocurrency exchanges in the world. It’s also currently preparing to make its financial data public as part of an IPO in the US. Coinbase offers limited support by email only.
Gemini is a mobile-friendly Bitcoin trading platform that’s ideal for traders on the go. There are three different apps for iOS and Android, depending on how you want to trade.
The first app, which most traders will need, is Gemini’s custom Bitcoin wallet. This enables you to easily store cryptocurrencies during trades and is highly secure. The second app is a simple trading desk, where you can trade fiat currency for Bitcoin or other digital currency at the current market price.
The third mobile app is ActiveTrader, Gemini’s advanced day trading platform for cryptocurrency. This features customisable charts and dozens of built-in technical indicators. More significantly, there are order types specifically designed around crypto trading. For example, you can enter a ‘maker or cancel’ order to ensure you’re getting the lowest spreads available for your trade.
Gemini also hosts a daily auction for popular cryptocurrencies. This enables you to buy Bitcoin in higher quantities with discounted trading fees. Daily auctions at Gemini take place even on weekends and holidays and can be accessed on your smartphone.
Fees vary depending on which app you trade with and whether you buy Bitcoin during an auction. With ActiveTrader, expect to pay a 0.25% commission when you create liquidity and a 0.35% commission when you remove liquidity from the order book.
This brokerage offers over 45 cryptocurrencies to trade in addition to Bitcoin. Gemini is regulated in the US by the New York State Department of Financial Services, so it complies with a number of rules designed to protect customers. The company’s customer service team is limited and only accepts requests by email.
Coinmama is one of the simplest Bitcoin trading platforms in the UK. This broker only offers spot trading on Bitcoin, with few options to add more complexity. In fact, Coinmama doesn’t even have a charting interface for technical analysis.
The main advantage of Coinmama is that it makes it incredibly simple to go from GBP to Bitcoin and back. You can fund your trades with a variety of everyday payment methods, including credit and debit cards, SEPA, and Apple Pay. You can set up a new account in just a few minutes and transactions clear nearly instantaneously.
One thing to keep in mind is that Coinmama doesn’t offer its own crypto wallet. So, you’ll need to get a Bitcoin wallet - perhaps from Coinbase or Gemini - and then save your wallet address to your Coinmama trading account.
Coinmama is highly convenient, but beware that it can also be quite expensive. This trading platform charges a 3.9% commission when buying Bitcoin and a 1.9% commission when selling Bitcoin. In addition, if you use a credit card, you could be hit with a 5% surcharge. Thankfully, there’s no extra fee when you fund your purchase with a bank account.
Coinmama is not regulated, but takes security very seriously. The company also offers support 5 days a week by live chat.
Luno is one of the best trading platforms for Bitcoin, especially if you’re new to the world of cryptocurrency. This platform breaks down the sign-up and purchasing process into simple steps and allows you to easily move from fiat to crypto and back.
Luno has its own cold storage Bitcoin wallet, which is highly secure. In addition, the platform offers a handful of tools for long-term investing. You can set up recurring purchases of Bitcoin, for example, or lend out your Bitcoin and earn interest over time.
This Bitcoin broker also has a more advanced technical analysis platform for day trading. You can access dozens of technical indicators and monitor the Bitcoin order book for liquidity changes. Luno’s trading platform also offers risk management through stop loss orders and alerts. The trading platform is available on the web and as a mobile app.
Luno’s pricing structure is complex, but extremely favourable. In fact, if you create liquidity when trading Bitcoin with this platform, there’s no fee whatsoever. Transaction fees start at 0.10% when you remove liquidity from the order book and decrease if you trade more than 250,000 GBP per month with Luno.
Luno is not regulated, but is widely trusted and secure. The platform only offers support by email.
Fees can add up quickly when trading Bitcoin. So, let’s see how the top Bitcoin trading platforms UK stack up when it comes to how much they charge.
Just when it comes to searching for a forex trading platform for a stock trading platform, picking the right Bitcoin trading platform will have a major impact on how profitable you are while trading Bitcoin. Let’s take a closer look at the factors you need to consider when choosing a Bitcoin brokerage.
Regulation is incredibly important when trading. Regulations exist to keep you safe and to ensure that your brokerage is acting according to your wishes, not their own best interest. For example, regulations require that your broker give you the best exchange rate when converting fiat currency to digital currency.
Ideally, you should look for brokers that fall under the watch of a trusted financial regulator like the Financial Conduct Authority or a US-based watchdog like the New York State Department of Financial Services.
That said, it’s okay to choose a crypto exchange that isn’t regulated. Just make sure that they have strict security measures in place. It’s also a good idea to check whether they have a reputation for being trustworthy and whether they have ever been penalized for cheating customers in the past.
It’s worth noting that all of the exchanges we covered are centralized exchanges (CEX). These typically offer a better customer experience and follow typical regulations, which decentralized exchanges do not always do.
If you’re only interested in trading Bitcoin (BTC), you’re in luck. Virtually every cryptocurrency trading platform in the UK carries Bitcoin, even if they don’t allow you to trade any other tokens.
However, most UK traders want the option to buy and sell popular altcoins like Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), and others. In that case, it’s important to look at the range of cryptos a prospective exchange offers. Some only carry the most popular cryptocurrencies, while others offer trading on dozens of lesser-known coins.
Fees can add up quickly and eat into your profits from trading Bitcoin. So, it’s important to understand what fees your trading platform charges and how that will affect your trading performance.
Most Bitcoin exchanges charge a percentage-based commission or spread for buying and selling Bitcoin. This fee can be fixed, or it might vary based on how quickly the price of Bitcoin is changing. In addition, you might see different fees depending on whether you add liquidity to the broker’s order book or remove it, or based on your monthly trading volume.
Think carefully about your trading strategy and how it will interact with these different fee structures. If you always add liquidity to the order book, for example, you may pay fewer fees with a broker that discounts that type of trading.
The trading tools that your crypto exchange offers will play a significant role in your trading. So, what tools should you be looking for?
The best place to start is with the charting platform. Look at the number of technical indicators available as well as how customisable they are. Most platforms enable you to place orders directly from the charting interface, and some even allow you to simply click on your chart to set price levels. You can also look for Bitcoin robots to trade.
Another useful feature is access to the exchange’s Bitcoin order book. This enables you to see all the current buy and sell orders on the Bitcoin blockchain, so you know how liquid the cryptocurrency is. This also allows you to quickly spot shifts in market sentiment.
Additional tools like price alerts, a market news feed, and professional research can all be extremely useful in trading Bitcoin. Some of the top Bitcoin trading platforms UK, like eToro, even have a social trading network where you can follow other traders and copy professional Bitcoin traders.
Trading Bitcoin requires quick reflexes - and a seamless trading experience from your platform. Look for the ability to enter orders quickly and to move between the charting interface and other tools as quickly as possible. It should also be simple to add funds to your account and to convert between Bitcoin and other cryptocurrencies.
Another key part of the user experience is a trading platform’s mobile app. The app should give you access to the same technical analysis tools that you can use online, while still making it easy to buy and sell cryptocurrency in just a few taps.
Many Bitcoin exchanges offer a demo account. This is a great way to try out a platform’s trading tools and user interface before committing real money to it.
A demo account is also a valuable trading tool in and of itself. You can use it to try out new trading strategies without risk.
Buying Bitcoin used to be a headache, but most crypto exchanges in the UK now make it easy to convert GBP to Bitcoin. Look for top Bitcoin trading platforms UK that enable you to use a variety of payment options, including bank transfer, SEPA, Faster Payments, debit card, and credit card. Some brokers, like eToro, even allow you to fund your account with an e-wallet like PayPal, Neteller, and Skrill. You may also be able to fund your account with a wire transfer for an extra fee.
Every minute of downtime when trading Bitcoin can cost you profits. So, it’s critical that you have access to customer support when you need it.
Look for Bitcoin brokers that offer 24/5 or 24/7 customer support. Ideally, support should be available by live chat or phone since you can get in touch right away. Email is okay, but it can take a few hours to get a response.
Ready to start trading Bitcoin? We’ll show you how to get started with eToro, which is our pick for the overall best Bitcoin trading platform in the UK.
Head to eToro’s website or download the eToro app to create a new account. Click ‘Join Now’ to and enter your email, a username, and a password. You can also register using your Google or Facebook login.
eToro is regulated by the UK’s Financial Conduct Authority, which enforces Know Your Customer (KYC) rules. So, you must go through an authentication step before you can start trading cryptocurrencies. Upload a copy of your driver’s license or passport along with a copy of a recent utility bill or financial statement to complete this step.
Next you can fund your new trading account. eToro requires a minimum deposit of $50, which you can pay by bank transfer, credit or debit card, or e-wallet – including PayPal, Neteller, and Skrill.
You’ll need a Bitcoin wallet to start trading cryptocurrencies with eToro. You can download the eToro Wallet app from Google Play or the Apple App Store. When you log into the app, this wallet will automatically be connected to your eToro account.
Now you’re ready to buy Bitcoin using eToro. From your account dashboard, search ‘Bitcoin’ and click on ‘Trade’ when it appears in the menu.
Choose how much money you want to invest in Bitcoin and enter a take-profit or stop-loss level if desired. When you’re ready, click ‘Open Trade’ to buy Bitcoin.
In order to trade Bitcoin profitably, you need the best Bitcoin trading platform in the UK. There are many options to choose from, but the 6 platforms we reviewed are among the best Bitcoin brokers UK.
Overall, eToro stands out as the best trading platform for Bitcoin. Click the link below to create an account today and start trading cryptocurrencies!
The UK recently banned crypto derivatives trading, including using CFDs to trade Bitcoin. So, you must use a cryptocurrency exchange in order to buy and sell Bitcoin in the UK.
The minimum amount of money you need to trade Bitcoin is just your exchange’s minimum required deposit. However, you should plan to set aside at least 500 GBP to trade Bitcoin and earn a reasonable amount from your trades.
Although Bitcoin can be bought and sold anonymously, most trustworthy Bitcoin brokers follow Know Your Customer (KYC) rules. So, you will need to verify your identity to trade Bitcoin.
You are considered a ‘maker’ when you add liquidity to an exchange’s order book. You are considered a ‘taker’ when you remove liquidity from the exchange.
Yes, you need a crypto wallet to buy and sell Bitcoin. Many of the best Bitcoin brokers in the UK have their own built-in wallets. Alternatively, you can download a third-party wallet for free.
Alan is the Chief Editor of TradingPlatforms.com. He is an experienced finance and investment writer who is an expert on the stock market.
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