Forex Brokers with Crypto Deposit and Withdrawal

The world of forex is expanding every single day so it stands to reason for new ways of doing financial transactions to be introduced and accepted by the brokers as well as traders of the markets. One of the new ways of making deposits and withdrawals is using cryptocurrencies, such as Bitcoin and Tether (USDT).

These digital currencies (Cryptos) are transferred on decentralized networks i.e., blockchains using cryptography for extra security and protection. Cryptography is a very sophisticated system of writing and deciphering secret codes which makes crypto transactions almost unbreakable. Moreover, no authority, country, group, or individual can control cryptocurrencies since they run on decentralized networks.

As with any other asset or currency on the market, cryptos can be used to buy and sell goods and services via online transactions. The process of buying and selling cryptocurrencies can be done directly or vicariously through crypto exchanges.

How to Deposit and Withdraw using Crypto at Brokers

To deposit your crypto funds, simply transfer the money to the wallet address provided by your forex broker. However, before transferring the deposit amount, the following items must be verified so you won’t lose your money for a simple mistake: 1) Check to see if you have enough money in your wallet to cover both the amount and the transaction fee. The fee can be varied depending on the condition of the network and its priority. 2) Verify the wallet address and network.

After you go ahead and do the transaction, several confirmations will follow. Confirmation simply means that each transaction should be validated for authenticity, the number of which depends entirely on the cryptocurrency in question. Following the transaction confirmation, your deposited funds will be received by your broker and the said transaction will be recorded on the public ledger (blockchain).

The withdrawal process is done in the exact reverse order of the deposit process, meaning first you need to specify your withdrawal amount, give your wallet address, and wait for transaction confirmations so you can receive your money in the provided wallet address.

Forex brokers that accept Bitcoin, Tether USDT deposit

FBS

👌 Tether (USDT TRC20 and USDT ERC20)

Deposit: Crypto network commission may apply, average 15-20 minutes, no deposit limit
Withdrawal: no commission, average 15-20 minutes (max 72 hours)

👌 Bitcoin (BTC)

Deposit: no commission, average 15-20 minutes, min 0.01 USD
Withdrawal: no commission, average 15-20 minutes (max 48 hours)

👌 Litecoin (LTC)

Deposit: Crypto network commission may apply, average 15-20 minutes, min 0.10 LTC
Withdrawal: no commission, average 15-20 minutes (max 72 hours)

👌 Bitcoin Cash (BCH)

Deposit: Crypto network commission may apply, average 15-20 minutes, min 0.01 BCH and max 99,999,999 BCH
Withdrawal: no commission, average 15-20 minutes (max 72 hours)

👌 Ethereum (ETH)

Deposit: Crypto network commission may apply, average 15-20 minutes, min 0.01 ETH and max 99,999 ETH
Withdrawal: no commission, average 15-20 minutes (max 72 hours)

Regulations: CySEC, ASIC, IFSC
Country: Cyprus
Founded: 2009

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HFM

👌 The min and max amounts for making deposits vis cryptocurrencies are 30 USD and 10,000 USD, respectively. The transaction is processed instantly with no fees. To withdraw your funds using cryptocurrencies, the minimum amount is 10 USD with zero commission, and the processing time is up to 24 hours.

At HFM, you have several payment gateways to choose from for your deposits and withdrawals using cryptocurrencies. The accepted cryptocurrencies are Bitcoin (BTC), Litecoin (LTC), Tether (USDT ERC20 and USDT TRC20), USD Coin (USDC), Ethereum (ETH), Bitcoin Cash, DASH, ZCash, and Cardano. HFM also accepts payments in USD and EUR via cryptocurrencies.

Regulations: CySEC, ASIC, IFSC
Country: Cyprus
Founded: 2009

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Exness

👌 Bitcoin (BTC)

deposit: minimum 10 USD, processing time 24 hours
withdrawal: minimum 10 USD, processing time 24 hours

👌 Tether (USDT ERC20 and USDT TRC20)

deposit: minimum 10 USD, processing time 24 hours
withdrawal: minimum 10 USD, processing time 24 hours

Regulated by CySEC, FCA, FSA
Country: Cyprus
Founded: 2008

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Tickmill

👌 TickMill accepts transactions in Bitcoin and Tether (USDT) with a minimum deposit of 100 USD and a minimum withdrawal of 25 USD. There is no commission, but there may be a conversion fee depending on your country and cryptocurrency. The processing time for deposit is instant (24/7), and one working day (12-48 hours) for withdrawal.

Regulations: CySEC, FCA, FSCA, FSA
Country: Cyprus
Founded: 2014

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JustMarkets

👌 Bitcoin (BTC)

Deposit: min 30 USD, no deposit limit, zero commission, processing time 1-3 hours
Withdrawal: min 0.001 BTC, no withdrawal limit, zero commission + blockchain fee, 1-4 hours

👌 Bitcoin Cash (BCH)

Deposit: min 30 USD, no deposit limit, zero commission, processing time 1-3 hours
Withdrawal: min 0.102 BCH, no withdrawal limit, zero commission + blockchain fee, 1-4 hours

👌 Ethereum (ETH)

Deposit: min 30 USD, no deposit limit, zero commission, processing time 1-3 hours
Withdrawal: min 0.015 ETH, no withdrawal limit, zero commission + blockchain fee, 1-4 hours

👌 Binance Coin (BNB)

Deposit: min 30 USD, no deposit limit, zero commission, processing time 1-3 hours
Withdrawal: min 0.125 BNB, no withdrawal limit, zero commission + blockchain fee, 1-4 hours

👌 Dogecoin (DOGE)

Deposit: min 30 USD, no deposit limit, zero commission, processing time 1-3 hours
Withdrawal: min 443 DOGE, no withdrawal limit, zero commission + blockchain fee, 1-4 hours
👌 Litecoin (LTC)
Deposit: min 30 USD, no deposit limit, zero commission, processing time 1-3 hours
Withdrawal: min 0.3 LTC, no withdrawal limit, zero commission + blockchain fee, 1-4 hours

👌 Ripple (XRP)

Deposit: min 30 USD, no deposit limit, zero commission, processing time 1-3 hours
Withdrawal: min 62 XRP, no withdrawal limit, zero commission + blockchain fee, 1-4 hours

👌 USD Coin (USDC), Tether (USDT), Binance USD (BUSD)

Deposit: min 10 USD, no deposit limit, zero commission, processing time 1-3 hours
Withdrawal: min 10 USDC/10 USDT/10 BUSD, no withdrawal limit, zero commission + blockchain fee, 1-4 hours

Regulations: CySEC, FSA, VFSC
Country: Cyprus
Founded: 2012

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Advantages of Using Cryptocurrency deposit with Forex Brokers

👍 1. Secure

As far as security is concerned, cryptocurrencies are just about the most secure payment method one could use for online transactions. This is thanks to cryptographic techniques that shield the users against fraud, counterfeiting problems, and hacking.

👍 2. Fast

Due to its decentralized nature, this payment method requires no third party such as a bank to act as an intermediary, its transactions are done directly and much quicker (within 15-20 minutes) than those of the traditional methods.

👍 3. Lower Fees

When the middleman is cut from the equation, so is the required fee for such presence. Additionally, since there is no conversion fee, this method becomes even more cost-effective and more palatable for your online transactions. The only fee will be your transaction fee which is quite low.

👍 4. Worldwide

Anybody with access to the internet can use cryptocurrencies from anywhere at any time. This is not even limited to business hours like other financial institutions. In other words, it doesn’t matter where you are or in what time zone you operate, your transactions will be processed just the same.

👍 5. More Privacy

Depending on the type of cryptocurrency you use, you’ll benefit from different levels of anonymity. The name or other personal info of the senders and receivers will not be kept, recorded, or shared with anybody. To do your transactions, you will only ever need your wallet address.

Disadvantages of Using Cryptocurrency deposit with Forex Brokers

👉 1. Volatile

Not all cryptocurrencies are created the same way, some carry more risk than others, meaning they oscillate more erratically within seconds, in terms of their values. Cryptos such as stablecoins are more stable since they are backed by fiat currencies. So, volatility is a crucial factor you need to be aware of when you make your transactions.

👉 2. Limited Acceptance

Although more and more brokers are getting on board with cryptocurrencies, it doesn’t mean that they all accept cryptos as a valid payment method. Therefore, finding a regulated forex broker that accepts your preferred cryptocurrency can be a bit of a challenge.

👉 3. Irreversible

Cryptos are not like your usual transaction methods, once you transfer the funds, you cannot reverse the process. So, as soon as you send the money to the wrong address, you can kiss your money goodbye.

👉 4. Technical Complexity

Cryptocurrencies require a little bit of technical knowledge, such as setting up the wallet, learning how to use the wallet for sending and receiving currencies, and how to keep your credentials safe. For newbies, it can be a little intimidating how to manage a crypto wallet, since mistakes are quite literally irreversible.

👉 5. Regulatory Uncertainty

Cryptocurrencies are not regulated by every nation in the world. Therefore, you cannot depend on any authority to come to your rescue if you fall prey to a scammer. However, as long as you watch your steps and go with reputable and regulated forex brokers, you should be fine.