Whichever way you choose for crypto trading, looking for the cheapest broker is a matter of course.

Crypto trading can be done in two ways; by actually exchanging one cryptocurrency for another, or through derivatives such as contract-for-difference (CFD). We can generate profit from both, but there are differences in technicalities such as intermediaries, trading mechanisms, and fees.

The former typically involves crypto exchanges that apply transaction fees in a similar fashion to currency exchangers. The latter is more speculative than the former, involving CFD brokers that demand commission fees although there are no actual crypto exchanges.

Whichever way you choose for crypto trading, looking for the cheapest broker is a matter of course. Here we have summarized the list of cheapest brokers for crypto trading, both via exchanges and CFD.

The Cheapest Broker for Crypto

Cheapest Crypto Exchanges

There are more than 300 crypto exchanges all over the world, so looking for the cheapest is certainly not an easy task. Fortunately, we have managed to gather enough information related to transaction fees in 7 of the most popular crypto exchanges as of April 2022.

  1. Coinbase: Coinbase charges a flat 1% transaction fee on all cryptocurrency transactions. Also, there are up to 0.50% spread per trade, 3.99% for credit card purchases, and 1.49% for Coinbase wallet or bank account purchases.
  2. Crypto.com: 0.04% to 0.4% maker fees, 0.1% to 0.4% taker fees, plus 2.99% for credit card purchases.
  3. Gemini: Gemini charges a 0.50% convenience fee; as well as a $0.99 to $2.99 transaction fee based on the amount or a 1.49% transaction fee for trades over $200. Otherwise, we can get cheaper fees by using the Gemini ActiveTrader plan.
  4. BitMart: BitMart charges 0.25% per trade for most users. However, they apply a tiered fee structure in which traders with higher trading volume (based on trading volume over a 30-day period in BTC) pay lower fees.
  5. Kraken: Kraken charges 0% to 0.26% of the total order value per trade, 3.75% + €0.25 for credit card purchases, and 1.7% + $0.10 for online banking processing.
  6. Binance: Binance charges a flat 0.1% fee for trading on the platform and a 0.5% fee for Instant Buy/Sell.
  7. Bisq: There are different rates for trading fees in BTC and Bisq's native coin, BSQ. The total BTC trading fee rate is 1% (0.12% by maker and 0.88% by taker), but fees in BSQ can be lower.

Without taking any other factors into account, we can say that Binance is the cheapest crypto exchange. However, it needs to be noted that each crypto exchange implements different fee structures depending on its processing mechanism and available facilities. It is recommended to not only consider the percentage of the fees but also to check whether the exchange can fulfill your needs.

 

CFD Brokers with Cheapest Fees for Crypto Trading

CFD Brokers generally implement at least two types of fees for crypto trading: spread and commission fees. Brokers that charge a commission usually apply lower spreads, while commission-free brokers apply higher spreads to make up for the difference. Consequently, it is also quite complicated to determine the cheapest broker for crypto CFD trading.

We have gathered seven CFD brokers as necessary references for you, although we can not say outright that they are the cheapest broker out there.

  1. AvaTrade: There is no information about commission fees, but AvaTrade applies floating spread, overnight financing costs (swap fees), and inactivity fees. Inactivity fees are $50 after three months of account inactivity, or $100 after one year of inactivity. However, spread and swaps are volatile. Learn more at AvaTrade website.
  2. eToro: eToro website explains that they charge a 1% fee for buying or selling crypto assets. This fee is included in the price when we open or close a trading position because it is added to the market price (Bid-Ask spread). Learn more at eToro website.
  3. Exness: Exness also applies different fee structures for every type of account. Zero Spread account may implement more expensive commission fees, while the Pro account has no commission fees but a larger spread. Learn more at Exness website.
  4. FXCM: Trading costs are included in the spread, and there are no extra commission fees charged when opening or closing trade positions. Learn more at FXCM website.
  5. IC Markets: IC Markets applies different fee structures for Raw Spread and Standard accounts. As such, you have to check their platform to learn the whole charges. Learn more at IC Markets website.
  6. LiteFinance: LiteFinance calculates commissions on cryptocurrency pairs as much as 0.12% of the price of every single asset. There may also be floating spreads starting from 0 pip. Learn more at LiteFinance website.
  7. Tickmill: Tickmill implements spread, commission fees, and overnight swap fees. Each varies between account types. Learn more at Tickmill website.