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Thadeus Geodfrey is an experienced and celebrated writer and self-taught trader specialising in cryptocurrencies and forex. Market analysis, identifying fraudulent brokers, and security are his cup of tea. At BrokerRaters Thadeus develops educational materials and user-guides, offer market insights, ensures our content conforms to the best standards. Join Thadeus to succeed in your trading endeavours.
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Bitcoin has made many people filthy rich, especially early adopters. But if you missed out, don’t worry; you still have the opportunity to profit from this cryptocurrency. That is all thanks to Bitcoin trading, a venture taking the UK by storm. As a Bitcoin trader, you can earn juicy returns from buying and selling BTC, the King of Crypto.
With that in mind, this guide will help you choose the best Bitcoin trading platform in the UK. Our experts have spent considerable time preparing it since we’d like to see you thrive and avoid fraudulent service providers. The platforms we’ve recommended have made it onto our guide based on merit, especially where factors like licensing, security, and reliability are concerned.
List of the Best Bitcoin Trading Platforms
- Kraken – Overall Best Bitcoin Trading Platform in the UK
- eToro – Best Bitcoin Trading Platform UK for Newbies
- Interactive Brokers – Best Bitcoin Trading Platform for Traditional Investors in the UK
- Coinbase – Most User-Friendly Bitcoin Trading Platform in the UK
- Crypto.com– Best UK Bitcoin Trading Platform for Staking Enthusiasts
In This Guide
UK Bitcoin Trading Platforms: Comparison Table
In an era when innumerable Bitcoin trading platforms are scrambling for the attention of approximately 5.6 million crypto enthusiasts in the UK, finding a reliable platform can be grueling. To add insult to injury, some brands targeting Britons are run by fraudulent entities. Such service providers are more dedicated to ripping you off than helping you hit your trading goals.
That brings us to one crucial question: are the platforms we’ve recommended here trustworthy and credible? The answer is a resounding YES! What makes us so sure of that? These platforms were picked by experts who’ve been in the Bitcoin trading industry for many years. And, while selecting the service providers to recommend here, our gurus vetted and evaluated countless brands based on a predetermined lineup of factors, from reputation and supported coins to platform type and customer support quality.
We encourage you to consider the same factors that guided our gurus when choosing the best Bitcoin trading platform UK, especially the ones we’ve highlighted below. This table should give you a quick overview of what to expect from the UK’s most outstanding Bitcoin trading platforms.
| Best Bitcoin Trading Platform UK | Broker Type | Support Service | Price | Supported Coins | Digital Wallet |
|---|---|---|---|---|---|
| Kraken | Centralized | 24/7 | Free | 200+ | Yes |
| eToro | Centralized | 24/5 | Free | 100+ | Yes |
| IBKR | Centralized | 24/5 | Free | 10+ | No |
| Coinbase | Centralized | 24/7 | Free | 200+ | Yes |
| Crypto.com | Centralized | 24/7 | Free | 350+ | Yes |
Platforms Short Overview
Service providers with ungodly fees make your rise to success a tad harder. Remember, costs are inversely proportional to profit margins. In other words, high costs facilitate reduced potential profits and vice versa. To summarize, you must trade with an affordable platform to reap the perks of healthy potential returns.
Affordability aside, you should also pay close attention to assets while choosing the best Bitcoin trading platform in the UK. Since you’re searching for a Bitcoin trading platform, we can safely assume that BTC is one of your favorites. So, check if any platform you plan to trade with supports this crypto before signing up. And if you have any other instruments you’d like to diversify with, look for a service provider that supports them.
Our gurus have included 2 comparison tables outlining our chosen BTC trading platforms’ fees and assets below.
Fees
| Best Bitcoin Trading Platform UK | Fees and Commissions | Minimum Deposit Requirement |
|---|---|---|
| Kraken | From 0.0% /0.1% maker/taker fees | £1 |
| eToro | 1% fee for buying or selling crypto | £100 |
| Interactive Brokers | From 0.18% commission | £100 |
| Coinbase | From 0.05%/ 0.00% maker/taker fees | None |
| Crypto.com | From 0.0%/ 0.1% maker/taker fees | None |
Assets
| Best Bitcoin Trading Platform UK | Bitcoin | Ethereum | Litecoin | Ripple | Tether | Solana |
|---|---|---|---|---|---|---|
| Kraken | Yes | Yes | Yes | Yes | Yes | Yes |
| eToro | Yes | Yes | Yes | Yes | Yes | Yes |
| IBKR | Yes | Yes | Yes | Yes | No | Yes |
| Coinbase | Yes | Yes | Yes | Yes | Yes | Yes |
| Crypto.com | Yes | Yes | Yes | Yes | Yes | Yes |
Our Expert Opinion about Bitcoin Trading Platforms UK
Let’s explore what the best Bitcoin trading platforms UK have to offer. Before jumping in, allow us to say something important. At BrokerRaters, we are dedicated to providing truthful and unbiased recommendations and reviews. Our gurus do all they can to ensure our guides provide all the information you need to become a successful trader.
That said, we often focus on providing general recommendations. We can’t tailor all of our guides and reviews to fit each of our reader’s specific needs and preferences. As such, we encourage you to investigate each service provider extensively and gauge the ability of each platform to help you meet your trading goals seamlessly before opening an account.
1. Kraken – Overall Best Bitcoin Trading Platform in the UK
We highly recommend Kraken to Bitcoin trading enthusiasts based in the UK. Over 10 million people use Kraken, our best overall Bitcoin trading platform for Brits. Why is this exchange so popular? For starters, it allows crypto enthusiasts to trade Bitcoin and over 200 altcoins, from Ethereum and Cardano to ICON and Sushi.
Regarding security, we can rightfully rank Kraken as one of the most secure BTC trading platforms in the UK. The company behind this crypto exchange is registered and regulated by multiple top-tier authorities, including the FCA in the UK. Therefore, it operates within strict regulatory frameworks tailored to enhance your safety and security as a trader. Furthermore, the platform allows users to optimize account protection with industry-leading protocols and practices like 2FA, cold storage, and biometrics.
Kraken’s users can take advantage of an applaudable range of advanced trading functionalities. The platform supports spot and margin trading. Advanced traders also have access to the tools they need to trade seamlessly, including a powerful, customizable interface and live market data feed.
Affordable is one of the adjectives we can use to describe Kraken. This service provider’s users have the opportunity to enjoy low costs stemming from fees starting from 0%. Moreover, Kraken clients can buy BTC and other crypto assets worth as low as £10.
Kraken
✔245+ available crypto
✔Simple user interface
Pros & Cons
Fees
Trading Assets
Pros
- Registered and regulated by multiple authorities, including the FCA
- Offers Bitcoin alongside hundreds of altcoins
- Protects client funds with industry-leading security measures and practices
- Low trading fees starting from 0%
- Simple, user-friendly platform interface
Cons
- Low-volume traders are subject to higher fees
- Higher conversion fees for smaller balances
Fees are a bone of contention with Kraken because while some praise the platform’s affordability, lenient fees are mostly available to pro users and high-volume traders. For instance, individuals with a 30-day trading volume can enjoysuper-low maker fees starting from 0.00%. On the other hand, the maker/taker fees for low-volume traders can go as high 0.25%/0.4%. We’ve outlined some of the fees that our gurus unearthed while evaluating Kraken in the table below.
| Fees and Charges | Details |
|---|---|
| Maker/taker fees | From 0.00%/0.10% |
| Margin trading fees | Between 0.01% and 0.02% |
| Rollover fee | Up to 0.02% (per 4 hours) |
| Instant buy fees | Yes |
| Account inactivity fees | No |
| Minimum deposit requirement | 0.00001 BTC |
2. eToro – Best UK Bitcoin Trading Platform for Newbies
Trusted by millions of global users, eToro is the best Bitcoin trading platform for newbies in the UK. This incredible service provider was recently recognized as the best for crypto trading by Investopedia’s Best Broker Awards 2024. That should solidify your trust in the platform’s credibility and reliability. But why have our experts recommended it to greenhorns?
eToro has an exceptional educational platform that offers hundreds of learning materials and resources. The platform, known as eToro Academy, provides diverse courses, guides, and tutorials to eToro users. Many materials available here cover indispensable Bitcoin-related topics, from lessons on the intricacies of Bitcoin halving to the basics of the BTC Lightning Network.
If you are a newbie, eToro gives you ample opportunity to trade and invest in Bitcoin even before you master the basics. While learning and honing your BTC trading skills, you can engage in social trading and copy trading on this platform. And don’t worry about spending valuable time learning how the platform works. eToro’s interface is simple and intuitive, making it friendly to beginners.
eToro
✔ User-friendly trading platform
✔ Over 6000 trading instruments
Pros & Cons
Fees
Trading Assets
Pros
- Simple, beginner-friendly platform interface
- Extensive learning resources, including free guides and courses
- Low, transparent crypto trading fees
- Newbies can copy and socialize with experienced BTC traders
- BTC traders can also trade CFDs on stocks, currencies, and other financial instruments
Cons
- High minimum deposit requirements for bank transfers
- £5 fee for every withdrawal request
eToro has a transparent fee structure that is easy to understand and helps you plan accordingly. From our analysis, we discovered the following trading and non-trading eToro fees.
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Management Fee | $0 |
| From $50, depending on your jurisdiction | 0.6 |
| Commission | From 0% on stocks and ETF trading |
| Spreads | From 1 pip on major currency pairs |
| Deposits and Withdrawals | $5 withdrawal |
| Inactivity | $10 monthly |
| Currency Conversion | 1.5% or 3.0%, depending on the currency or payment method |
| Overnight Funding | Varies based on global market conditions |
| Copy Trading | Free |
3. Interactive Brokers – Best Bitcoin Trading Platform for Traditional Investors in the UK
Interactive Brokers allows millions of people to trade Bitcoin and other crypto assets. The platform’s users enjoy low commissions starting from 0.12% and get the opportunity to hold different cryptocurrencies. All you have to enjoy such privileges is register with this service provider, log into the Client Portal, and request permission to trade crypto by clicking the Trading Permissions button.
Having said all that, our pros strongly recommend IBKR to Bitcoin traders who also dabble in traditional investing. This service provider allows BTC enthusiasts to include other assets in their broader investment portfolios, from stocks to ETFs and mutual funds.
While trading Bitcoin with Interactive Brokers, you can invest in over 18,000 European and US stocks, including popular assets like GOOG, AMZN, and TSLA. These come with sharp commissions as low as £0.00. You can diversify your portfolio with 43,000+ mutual funds, including popular products like Invesco, Vanguard, and PIMCO. Additionally, IBKR gives investors access to innumerable ETFs, bonds, and hedge funds.
IBKR welcomes both seasoned pros and novices with open hands. Advanced traders get to take their experience to the next level with industry-leading tools and functionalities, including the broker’s sophisticated TWS trading platform. On the other hand, rookies can learn and grow their knowledge base with the extensive materials offered at the IBKR learning center.
Interactive Brokers
✔$0 minimum deposit requirement
✔No account inactivity fees
Pros & Cons
Fees
Trading Assets
Pros
- Friendly commissions for crypto traders
- Supports investing in stocks, bonds, funds, and other assets
- Advanced trading and investing tools for pros
- Extensive educational materials for greenhorns
- Regulated by the FCA and other recognized regulators
Cons
- The platform has a steep learning curve
- Limited crypto-related services
After conducting thorough research and extensive assesments, we can confidently categorize Interactive Brokers as one of the most affordable service providers out here. As we’ve already mentioned, this company has no minimum deposit requirement. Plus, it allows traders to fund their accounts with payment methods like ACH and wire transfer at no additional cost. We also highly recommend IBKR because, unlike other brokers, it doesn’t require traders to pay inactivity fees for dormant accounts.
Here’s an overview of the Interactive Brokers fees and charges our team unearthed during our evaluation and exploration:
| Type | Fee |
|---|---|
| Account opening and maintenance | $0 |
| Deposit | $0 |
| Withdrawal | Yes |
| Inactivity | $0 |
| Overnight charges | Yes |
| Currency conversion | 0,5% |
4. Coinbase – Most User-Friendly Bitcoin Trading Platform in the UK
We found several user-friendly providers while evaluating the best Bitcoin trading platforms in the UK. But none can compete with Coinbase. This service provider has a well-designed interface with a clean layout and zero unnecessary complexities. It’s easy to familiarize yourself with and navigate, making it ideal even for inexperienced BTC traders.
Moreover, Coinbase has straightforward registration and onboarding processes. We opened our account and started trading Bitcoin and other assets within a few minutes. This platform’s guided setup process with clear, easy-to-understand instructions enhanced our experience. Moreover, the company’s help center enabled us to navigate most of our challenges.
User-friendliness aside, Coinbase users can sell, purchase, and trade Bitcoin on the Coinbase platform. Other assets are available here, from Ethereum and Solana to Optimism, Dogecoin, and many more. The platform also charges friendly fees, starting from 0bps/5bps maker/taker fees. But note that the lowest charges go to high-volume traders, and vice versa.
If you need to increase your knowledge base before trading Bitcoin and other digital assets, Coinbase has got you covered. The platform offers a plethora of materials, from beginner guides and practical tips to guides and educational articles.
Coinbase
✔Available in over 100 countries
✔Authorized, licensed and regulated
Pros & Cons
Fees
Trading Assets
Pros
- Simple, user-friendly platform interface
- Extensive guides and practical tips for beginners and first-time platform users
- Competitive maker/taker fees ranging from 0bps/5bps to 40bps/60bps
- Users can watch educational videos and earn crypto rewards
- Easy account registration and setup
Cons
- Limited customer support channels
- Some payment methods have steep deposit and withdrawal fees
Coinbase doesn’t have a fixed minimum deposit requirement, which should be terrific news to people working with a limited budget. Moreover, the exchange covers transaction charges on behalf of its clients, so you don’t have to worry about additional costs while topping up your Coinbase account. To make everything better, the company allows its users to send crypto to other Coinbase users free of charge.
That said, our experts discovered numerous fees and charges while researching and evaluating Coinbase. For starters, the company charges a 0.1%C Lighting Network fee as well as variable exchange fees that depend on numerous factors, including market conditions, order size, and the involved payment method. Coinbase users who require asset recovery services are also subject to network and recovery fees.
Let’s review some of the fees and charges that you might encounter while trading with Coinbase:
| Fees and Charges | Details |
|---|---|
| Minimum deposit | None |
| Fiat deposit fees | $10 (wire), €0.15 (SEPA) |
| Fiat withdrawal fees | $25 (wire), £1 (SEPA) |
| Crypto transfer fee | None |
| Exchange fees | From 5bps/0bps taker/maker fees |
| Lightning Network fee | 0.1% |
| Staking commission | From 25% |
5. Crypto.com – Best UK Bitcoin Trading Platform for Staking Enthusiasts
Crypto.com is one of the most highly regarded Bitcoin trading platforms among staking enthusiasts and for good reasons. Last we checked, the platform’s users can stake a diverse range of crypto assets, from Ethereum and Cronos to Polkadot, Avalanche, and Solana. Most of these cryptocurrencies come with juicy rewards. For instance, you can stake injective and earn up to 17.15% APR.
The best part is that the Crypto.com platform is easy to understand, navigate, and use. Its user-centric layout and features ensure that new users can stake supported crypto assets with minimal effort and zero hassles.
Crypto.com is also on our list of recommended Bitcoin trading platforms due to its unique offerings. The first is the company’s crypto-backed debit card. You can use the card to spend cryptocurrency and earn rewards. If you don’t want the company’s proprietary visa card, you can make payments with Crypto.com Pay, a service that allows you to pay with crypto in 300,000+ shops.
Besides, while trading with Crypto.com, you can buy and hold BTC and other top crypto assets. The icing on the cake is this company has secure crypto wallets you can use to keep your cryptocurrency safe from malicious entities like cybercriminals.
Crypto.com DeFi Wallet
✔Decentralized wallet
✔Over 25 tokens
Pros & Cons
Fees
Trading Assets
Pros
- Supports a wide variety of stackable crypto assets, from ETH to SOL
- Competitive crypto staking rewards
- Newbies can start trading and investing with £1
- Competitive crypto trading fees
- Bitcoin traders can diversify their portfolios with hundreds of altcoins
- Unique products like Crypto.com Pay, a crypto-backed visa card, and a DeFi wallet
Cons
- No phone support
- Higher fees compared to its peers
The Crypto.com wallet is free, so you don’t have to worry about spending your hard-earned money on subscription fees and similar charges. That said, while using this wallet, you may be subject to transaction fees, swap fees, and other costs. They often vary from time to time, so we highly encourage you to review the company’s terms and conditions and stay on top of all arising developments.
Bitcoin Trading in the UK
By 2023, over a million Brits were BTC owners. Today, many of the people who own Bitcoin in the UK are also active BTC traders. Bitcoin trading has gained traction and continues to gather popularity in this region for numerous reasons. For starters, the tech-savvy population is growing at an unprecedented rate, and more people are embracing digital assets every day. Most importantly, Bitcoin trading is legal, so no one is stopping Britons from diving in and reaping the associated perks.
Before you pick a platform to trade Bitcoin, note that crypto trading is largely unregulated in this region. Consequently, you shouldn’t expect the FSCS to cover most of the crypto-related losses you may incur while trading BTC with any of our recommended service providers. That said, for the best experiences and unmatched security, prioritize trading BTC and other cryptocurrencies with platforms authorized and regulated by multiple authorities, with the FCA at the top of the list.
We also advise you to read UK laws before trading BTC or other altcoins. That is because, according to GOV.UK, you may need to pay capital gains tax when selling crypto assets like Bitcoin. Lastly, note that numerous risks are associated with Bitcoin trading. We’ve outlined a few noteworthy risks below; learn all you can about them before diving off the deep end.
What is a Bitcoin Trading Platform?
A Bitcoin platform is software or an online service that allows individuals and institutions to trade Bitcoin and, in most cases, a variety of altcoins. Most reputable platforms allow traders to trade FIAT and other crypto assets for Bitcoin and vice versa. The best service providers have everything BTC traders need to thrive, from industry-leading security to different order types, real-time price charts, and robust data analysis tools.
Check out our other article on Bitcoin wallets available in the UK.
How to Choose the Best Bitcoin Trading Platform UK
UK residents like yourself can access hundreds of platforms supporting Bitcoin trading. But that’s the upside of being a Brit. The downside is that more than a few shoddy and unscrupulous service providers have hidden in the shadows and are ripping off unwary traders and investors. We urge you to use the tips below to weed out lousy platforms and identify the best brands.
Regulation and Security
Asset Range
Fees and Costs
Payment Methods
Reviews and Ratings
Ensure the platform you trade Bitcoin with is authorized and regulated by the highest regulator in the UK, the FCA. Additionally, since multi-regulation goes hand in hand with enhanced credibility and security, we encourage finding a service provider licensed and regulated by other relevant authorities, like ASIC, SEC, and CySEC.
Since you are a BTC trader, finding a platform that supports Bitcoin trading should be at the very top of your bucket list. But don’t focus on Bitcoin alone; portfolio diversification is the key to dodging crippling losses. As such, find a service provider with a considerable range of altcoins and other financial assets.
While evaluating different Bitcoin trading platforms, compare their fees and costs. Choose a service provider with reasonable charges that match the provided services. Also, beware of hidden costs that may creep up in the future and take you by surprise.
Before signing up, vet your chosen Bitcoin trading platform’s available payment methods. Go through all available options and check if the one accessible to you is supported. Furthermore, you must examine the waiting periods and associated charges.
Trading Bitcoin with a reputable platform is paramount. As such, use online ratings and reviews on Google Play, the App Store, and Trustpilot to gauge every service provider’s reputation. Don’t trust brands with a history of negative reviews and unresolved customer complaints.
Risks to Trade Bitcoin for UK Traders
Trading BTC in the UK carries numerous risks, including:
- Regulatory uncertainty: Crypto trading platforms are regulated by the FCA in the UK. However, where digital assets like Bitcoin are involved, the regulatory environment is still evolving, and stringent standards have yet to be introduced.
- Market volatility: Bitcoin is extremely volatile and subject to drastic price changes. This asset’s price can swing wildly without any warning. That can cause both significant losses or gains depending on your position.
- Lack of consumer protection: Most Bitcoin trading platforms offer little to no consumer protection. If something horrible happens while trading with these service providers, like fraud, you won’t have recourse for losses.
- Security risks: While trading BTC with one of the platforms available in the UK, cybercriminals can hack your account and steal your data, funds, or assets.
Pros & Cons of Bitcoin Trading
We’ve summarized the pros and cons of Bitcoin trading below. Review them before making the final decision and risking capital.
Pros:
- Bitcoin’s volatility can increase potential profits
- Most providers support 24/7 Bitcoin trading
- You can start trading BTC with anything from £1
- Bitcoin traders can invest in a wide variety of digital assets
Cons:
- Drastic BTC price fluctuations often cause immense losses
- Bitcoin trading requires refined skills and vast knowledge
Conclusion
BrokerRaters has introduced you to the best Bitcoin trading platforms in the UK. After conducting extensive independent research, pick one service provider and start trading and investing. But be careful; Bitcoin trading platforms and accounts are a prime target for cybercriminals. Enhance your security with every tool at your disposal, including 2FA.
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