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The range of crypto brokers is now enormous, so the choice is not always easy for inexperienced traders. However, a broker comparison can be helpful in finding an optimal trading platform that meets one's own requirements in terms of quality, price, performance and service. In practice, some criteria have proven to be helpful in the selection of a broker. These include, among others:

• Trading offer
• Costs
• Services
• User-friendliness
• Licence/security
• Payment options 

Experience shows that the trading offer is extensive with many brokers, but by no means with all of them. If you want to trade Bitcoin derivatives as flexibly as possible with the highest possible diversification, you should look for a broker that offers Bitcoin shares, certificates and other derivatives in addition to CFDs in mt5 download. The greater the selection of financial instruments, the more flexibility traders have in implementing their investment goals, because the desired financial instrument is available for the short, medium and long-term investment horizon.

Compare trading costs

Trading costs vary among brokers, although the level is often similar. Since brokers are in competition with each other, experience has shown that they orientate themselves towards each other with regard to trading conditions. However, there may be differences in the spreads or the ancillary trading costs. Not all brokers, for example, offer free real-time quotes or free trading tools and indicators for price analysis. Incidental costs also include news reports, which are often offered free of charge as a basis, but when it comes to market depth or specific reports, they are often subject to a charge.

Pay attention to services

Service should always be a top priority for a good broker. This includes not only that, for example, the customer support is available to traders at almost any time, but also that it is available in different national languages. Experience shows that there are some differences precisely in the service quality of the support. For example, many brokers offer a 24/5 service, while only a few offer 24/7 support. They also differ significantly in the ways of communication. Fortunately, there is communication mostly via:

• Live chat
• Telephone
• E-mail 

Despite the various communication channels, the differences often lie in the choice of language of the staff, because telephone contact in particular is often only possible with English-speaking staff and, what is more, not always free of charge. All traders who would like to have support in their national language should specifically pay attention to this when comparing brokers.

Demo account as an extra

A demo account should be available at every good broker and at best free of charge for an unlimited period of time and equipped with a high virtual credit. The demo account offers especially less experienced traders and the possibility to start trading without risk and to familiarise themselves with their chances on Bitcoin derivatives. However, the demo account is also frequently used by ambitious investors, for example to test strategies.

Further training opportunities

Further education is one of the most important requirements that distinguishes successful from less successful traders. Therefore, it is important that traders not only bring along the willingness to continuously train, but also, at best, receive free support from the brokers in the form of videos and the like.