Crypto Trading with Low Minimum Deposit

Written by Zornitsa Stefanova

Zornitsa Stefanova

Zornitsa Stefanova is experienced forex and crypto analyst. She also covers various financial topics such as stocks trading and retirement investments.

, | Updated: October 23, 2024

The cryptocurrency market has grown to an exponential extent in the years since Bitcoin’s launch in 2009, with a number of cryptocurrency exchanges now enjoying daily trading volumes in the billions. Cryptocurrencies have also become an important addition to the market selection of a plethora of online brokers, making them all the more accessible to the average trader and ensuring that there are plenty of options if you are looking for platforms that do not have steep deposit or purchase limits.

While this widespread availability comes with plenty of upsides, it may also result in traders having quite a difficult time picking between the numerous platforms that have not only made a name for themselves in today’s crypto trading landscape but ensured that purchasing crypto or making deposits can be done with a low amount of funds. If you happen to be facing this exact challenge, our expert team offers insight into some of the best crypto trading platforms that boast low deposit limits.

1Fusion Markets

Rating: 4.9 ⭐

74-89% of retail CFD accounts lose money

Top Rated

2FP Markets

Rating: 4.8 ⭐

73.85% of retail investor accounts lose money

3BlackBull Markets

Rating: 4.6 ⭐

4eToro

Rating: 4.2 ⭐

51% of retail investor accounts lose money

5FBS

Rating: 3.6 ⭐

72.12% of retail investor accounts lose money

Top Brokers with Low Deposit Limits

1. TRADE NOW READ REVIEW
   1. Fusion Markets

   Regulated by the Australian Securities & Investments Commission (ASIC), Fusion Markets is a reputable broker for blockchain enthusiasts looking to trade Bitcoin, Dogecoin, Cardano, or any of the other dozen or so cryptocurrencies available. Moreover, Fusion Markets does not impose a minimum deposit requirement, making it relatively accessible.

   Users have several options to pick from in terms of trading platforms, including MT4, MT5, TradingView, and cTrader. The broker facilitates crypto trading through contracts of difference (CFDs), and the spreads are relatively narrow. Trading with leverage is also an option, and for crypto CFDs, the leverage can be 1:10 at most. Of course, those looking to branch out may also engage in other markets, including but not limited to metals, forex, and soft commodities.

   Gleneagle Asset Management Limited (ABN 29 103 162 278) trading as Fusion Markets, is the issuer of the Fusion Markets Products described in this communication. Trading in Fusion Markets Products involves the potential for profit as well as the risk of loss which may vastly exceed the amount of your initial deposit and is not suitable for all investors. You should read all of these Financial Product Service Terms, the Product Disclosure Statement (PDS) and the Financial Services Guide (available on our website) carefully, consider your own financial situation, needs and objectives for investing in these Fusion Markets Products and obtain independent financial advice.
2. TRADE NOW READ REVIEW
   2. eToro

   If you are new to crypto trading, eToro is an excellent broker to start your journey. eToro is relatively easy to navigate, and it offers the broadest selection of crypto CFDs in this list of brokers. Whether you are looking to trade Bitcoin or altcoins like Ethereum, Solana, and XRP, to name a few, you will find a wealth of cryptocurrencies to pick from.

   The broker also supports a wide array of guides in its education hub, and one may also choose to rely on the experience of veteran traders and take advantage of eToro’s Copy Trader platform. How much money you will need to deposit to become a full-fledged eToro user that can start trading is dependent on where you reside. For clients in Australia and Greece, for instance, the minimum is $50, but in some countries, it might reach $100, $200, or more.

   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
3. TRADE NOW READ REVIEW
   3. BlackBull Markets

   With its modest but sufficient selection of cryptocurrencies and excellent choice of platforms, Blackbull will serve as a suitable broker for anyone who is looking to explore crypto trading. Bitcoin, Litecoin, and Cardano are examples of what one will find in the crypto section of Blackbull’s website.

   Those who decide to use a standard ECN account do not need to adhere to a minimum deposit requirement and spreads start out at 0.8 pips. As for what methods can be utilized for deposits, bank cards, digital wallets, and bank transfers are available, as are cryptocurrencies.

   Blackbull Markets’ customer support team is ready to assist users around the clock, seven days a week. Clients may pick between email or live chat when it comes to online means of communication. Alternatively, one may choose to give the support staff a call via phone.

4. TRADE NOW READ REVIEW
   4. FP Markets

   Established in 2005, FP Markets is a broker that boasts licenses from the financial regulators of Australia and Cyprus. Client funds are segregated away from company funds, and third-party auditors are tasked with examining FP Markets’ financial accounts in terms of regulatory compliance.

   Creating an FP Markets account is streamlined, as is verification, and clients need to make a deposit of at least $50 to meet the minimum opening balance requirement for one to be able to make trades. Once that is settled, FP Markets users can pay a visit to the crypto CFD page of FP Markets and choose between Bitcoin, Litecoin, Ripple, and other cryptocurrencies they might wish to trade. Moreover, trading can be achieved by both desktop and mobile users, seeing as FP Markets has an Apple application, and an app can also be downloaded from Google Play.

   10 per quarter for non-AU traders; 20 per quarter and notional volume of AU$1,000,000 per 4 quarters in the last 1 year 73.85% of retail CFD accounts lose money
5. TRADE NOW READ REVIEW
   5. FBS

   Those looking for a broker that is licensed by supervisory entities like the Australian Securities & Investments Commission (ASIC) and Cyprus Securities and Exchange Commission (CySEC) should consider making FBS their trading platform of choice. This broker offers a variety of markets to its users, including forex, crypto,metals, stocks, and energies. The size of the minimum deposit requirement varies between payment methods, but one of them allows traders to start out with as little as $5.

   This broker might not be suitable for those looking to trade a wide range of cryptocurrencies, however, seeing as there are presently only five cryptocurrencies that are supported. Nonetheless, the fact that it supports crypto trading via contracts of difference (CFDs) in the first place makes it a sufficient option for traders who are simply looking to give cryptocurrencies a try.

   The FBS Academy is one aspect of this broker that clients should definitely take advantage of if they are relatively new to trading or would simply like to learn more. It encompasses a wealth of tutorials, and there are various webinars that users can join. This is also where one can find information on the seminars FBS holds across the globe.

   Risk warning: ᏟᖴᎠs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.12% of retail investor accounts lose money when trading ᏟᖴᎠs with this provider. You should consider whether you understand how ᏟᖴᎠs work and whether you can afford to take the high risk of losing your money.

Comprehensive Comparison of the Top 5 Crypto Brokers with Low Deposit Limits

Top Exchanges with Low Deposit Limits

1. Kraken

   Kraken is a cryptocurrency exchange that has been around for over a decade, and its trading volume currently exceeds 1.4 billion. Dozens of cryptocurrencies can be traded on Kraken, with notable examples being Bitcoin, USDT, Dogecoin, and Litecoin.

   The minimum deposit requirements vary depending on the cryptocurrency you go with, but they tend to be fairly low. When it comes to Litecoin, for instance, the minimum is 0.01 LTC ($0.65). As for what payment methods one can pick from when wishing to purchase crypto, Kraken’s cashier supports bank cards, digital wallets, and online banking.

   Last but not least, potential clients should take a look at how trading is actually facilitated at Kraken. Namely, users can pick between spot trading, futures, and trading with margin. Staking is also an option.

2. Coinbase

   Blockchain enthusiasts who decide to make Coinbase their exchange of choice can pick between two main platforms, with the first one being available to every user, while the latter requires opting in and is dubbed Coinbase Advanced.

   In general, the exchange is very user-friendly, boasts numerous excellent guides that cover the basics of crypto and other information that has to do with blockchain technology, and has a purchase minimum of A$2. This makes Coinbase a great option for those who are not experienced with cryptocurrencies and wish to assess if crypto trading is for them .

   Coinbase is a US-friendly crypto exchange that used to be based in San Francisco, but it has for several years operated on a remote-first basis and has no corporate headquarters. It is, nonetheless, the largest US exchange and the second most prominent exchange in general in terms of trading volume.

3. Binance

   Holding the second spot in the world when ranked against other exchanges by daily trading volume, Binance is one of the largest and most trusted exchanges in today’s crypto sphere. With over 350 cryptocurrencies available and the ability to partake in spot trading, futures, peer-to-peer trading, and trade with margin, Binance users-to-be have much to look forward to. The Binance platform itself is loaded with a range of tools and options, making for a feature-rich experience even if the learning curve has been described as steep by users.

   While Binance technically does have deposit minimums that vary from blockchain to blockchain, they are typically negligible and, in practice, will not affect end-users. Moreover, Binance does not charge users any fees for deposits, and it is generally known for being budget-friendly in terms of costs.

4. Kucoin

   Launched in 2017, Kucoin is an exchange that should be on your radar if you are considering trading cryptocurrencies. Kucoin has the largest selection of tradable coins on our list, and Bitcoin, Ethereum, Tron, and Monero can give you an idea of what you can find among the 900+ supported cryptocurrencies.

   The deposit minimum that one needs to adhere to is $10, and the fees, in general, are among the lowest in the crypto market, and discounts are also offered to users on a regular basis. While the broker has a fairly limited selection of fiat payment methods on offer, it does include popular methods like Visa, Mastercard, Revolut, and prepaid cards. One may also choose to purchase crypto with their account balance.

5. OKX

   Operating across more than 180 regions the world over and more than 350 tradable cryptocurrencies, OKX is an exchange that caters to a substantial audience. This is also reflected in the deposit page as well, seeing as clients can pick between Mastercard, Visa, bank transfers, mobile wallets, Pix, and more, with the exact selection depending on where one is located.

   OKX is generally considered suitable for beginners. There is a demo account option that traders can use to practice, and copy-trading is also available.

   Those who are more experienced and would like to trade with leverage can do so, but how much leverage they can go with is dependent on what type of trading they prefer. For spot traders, the maximum leverage limit stands at 10x. Those who prefer futures, on the other hand, can enjoy leverage of 100x.

Deposit Methods 101

All in all, cryptocurrency platforms aim to make purchasing crypto and the facilitation of crypto trading as streamlined as possible. They have, thus, made efforts to ensure a sufficient variety of deposit methods so that users can easily make the transition from fiat to crypto easier.

In other words, if you do not own any crypto prior to registering at an exchange or broker, that will not be an issue. Most platforms allow you to purchase crypto directly once you have an account, give you the option to deposit fiat into the account and use those funds to buy crypto, or provide both as options.

As for the methods available, it is generally guaranteed that you will find bank cards in any of the platforms we have included in our list. Whether you prefer credit or debit, you will be able to deposit to your account via Mastercard or Visa cards.

Other traditional payment methods that can often be found in the cashiers of crypto platforms have to do with banks, namely bank transfers and wire transfers. The latter is faster but also comes with a cost, so which one is more suitable for a given user is reliant on their preferences.

Some exchanges and plenty of brokers also allow for digital wallet deposits. Options here include Skrill, PayPal, or mobile wallets such as Google Pay or Apple Pay. Digital wallets are praised for their convenience and security, hence many platforms provide them to their clients.

It should be noted that if you are already a crypto user, the process is even more streamlined. You can transfer coins directly from your own blockchain wallet to the balance of your account.

Regardless of which option you have gone with, once you have your preferred cryptocurrency in your account balance, you can begin trading.

How to Deposit into Your Crypto Platform Account

Those who are new to trading can rest assured that the process of depositing at an exchange or broker is relatively simple. Moreover, it does not differ between platforms, with the only core difference between the two being the fact that exchanges allow users to purchase crypto directly.

The first step involves going to your broker or exchange of choice and logging into your account. Once done, you should see a deposit button on the homepage, and clicking it will take you to the deposit page. If you wish to deposit fiat, you will typically be able to use a bank card to complete the deposit or another of the payment methods available on your platform. You may also choose to deposit via crypto.

As established, clients of crypto exchanges are always provided with the option to purchase crypto from the deposit page via their preferred payment method.

Crypto Brokers vs Crypto Exchanges

One of the first and most fundamental contrasting factors to consider when comparing exchanges to brokers is the selection of tradable cryptocurrencies a given platform has. In general, cryptocurrencies can be rather scarce at traditional brokers, while exchanges allow for the trading of hundreds of cryptocurrencies. On the other hand, brokers also offer other types of markets, including forex, stocks, and more. If you go with an exchange, you usually have only crypto trading as an option.

Another core difference between the two has to do with the ways you can partake in crypto trading. Namely, if you go with a broker, your only real option would usually be to trade by utilizing contracts of difference (CFDs). Trading crypto is an already risky endeavor due to the high volatility of the crypto market, but CFDs serve to make trading err even further away from caution, and they are not considered beginner-friendly.

In addition, plenty of crypto exchanges also provide clients with the platform to partake in peer-to-peer (P2P) trading.

Regulation and security are also factors that will play a role in differentiating exchanges from brokers. There are certainly exchanges that have gone through the rigorous process of obtaining licensing, but there are also ones that do not operate under reputable regulators, if any. Moreover, you need to pay attention to whether a regulated broker is registered with your own jurisdiction’s regulator when choosing a platform.

As for security, both exchanges and brokers employ robust encryption and other technology that serves to protect clients and assets, but exchanges are seen as an even more lucrative target to targets and are thus attacked somewhat often.

Deposit Fees and Other Transaction Costs

Blockchain mavens will seldom come across a crypto trading platform that charges its clients for deposits. Even when a platform does attach a cost to deposit transactions, it is typically low and simply accounts for the costs the platform itself would need to pay to accept client deposits. This may apply to cash deposits made on crypto exchanges.

There are fees one must keep track of regardless of platform, however. When depositing via bank cards, for instance, your banking institution will charge you for the transaction. Crypto deposits, in particular, will also involve network fees, which are referred to as gas fees for those on the Ethereum blockchain.

In contrast to deposits, withdrawals are usually accompanied by a fee imposed by your exchange or broker, and their size varies from platform to platform. These are reliant on the broker or exchange, and they tend to vary between payment methods as well.

Depositing on Mobile Crypto Platforms

Nowadays, it has become easier than ever for crypto devotees to trade on the go, as the vast majority of brokers and exchanges provide mobile applications to their clients. These apps have most of the functionality of software that is dedicated to desktop systems, making them the perfect option for those who value portability.

One of the functions that is virtually unchanged on mobile platforms is depositing, and the same applies to purchasing crypto via your platform. In other words, you will be able to use bank cards, bank transfers, digital wallets, and other payment solutions. It is worth noting that in terms of digital wallets, plenty of platforms opt for supporting Google Pay and Apple Pay, which makes them even more convenient for smartphone users.

What to Keep in Mind When Picking a Platform

If you are considering giving cryptocurrency trading a try, there is a lot that you will need to consider before settling on a particular platform. The first aspect we will focus on is regulation. Whether you decide to go with a broker or an exchange, it is imperative that you make sure that the platform can operate legally in the jurisdiction you reside in. It is sometimes possible to register and use a certain platform regardless of its licensing or whether it is registered with your jurisdiction’s regulator, but it is generally safer to go with one that has been given the official approval to accept clients from your region. Especially reputable regulators are ASIC (Australia) and the FCA (UK). Another aspect tied to safety is a platform’s security, which makes going with platforms that offer two-factor authentication, phishing protection, and other security features a good idea.

The second most important factor to consider is the selection of cryptocurrencies that can be traded on a given platform, as well as what other assets are available. As established, exchanges tend to have quite a lot of options when it comes to crypto both in terms of ways to trade and the cryptocurrencies themselves, but they typically lack non-crypto trading instruments. Brokers, on the other hand, are the polar opposite–they usually support CFD trading of a handful of cryptocurrencies, but they also facilitate the trading of fiat currencies, stocks, and more. This is one case where your personal preferences and goals as a trader will dictate what type of platform you go with.

The next factor we will take a look at is liquidity. The higher the liquidity, the less a cryptocurrency’s price will be affected when it is purchased and sold on the platform, so platforms with deep liquidity are often recommended.

You should also make sure to examine the fee structure of a given platform. Trading costs can come in the form of taker/maker fees, the spread, and more. There are also transaction costs to consider, overnight fees, and maintenance fees that warrant examining.

Last but not least, consider a platform’s customer support before you decide to stick with it. You will typically want to go for a broker or exchange that offers 24/7 support via live chat or other means of communication you find convenient. In addition, make sure to pay a visit to online crypto communities or review platforms like Trustpilot to check feedback regarding how quickly issues are resolved and how helpful the customer service team is when assisting clients.

Pros and Cons of Trading Crypto with Low Minimum Deposit Platforms

As is the case with all types of trading, you will find that crypto trading at low-deposit platforms comes with its advantages, and it also has some drawbacks. The first upside to crypto trading is the fact that clients have access to both cryptocurrency brokers and exchanges, many of which are reputable in the space. Their availability on brokers is of particular note, seeing as those who are experienced in other areas of trading and are looking to attempt trading in the crypto market can do so without the need to use different platforms.

Access to leverage is another aspect that seasoned traders who are looking to diversify their portfolios will be pleased to see. Both exchanges and brokers give their clients the opportunity to trade crypto while taking advantage of leverage, which can lead to a notable increase in profits when trading. Those who are less experienced should be careful when using leverage, however, as it is a tool that introduces more risk to one’s trading experience.

Cryptocurrencies are prone to major volatility, which can be both an advantage and a disadvantage. On the one hand, this creates many opportunities for making notable profits while trading crypto. The downside, however, is that major fluctuations can be difficult to predict, and it is possible for one to incur substantial losses as well. This can have an even bigger negative effect when one is trading with leverage.

In general, crypto assets do not enjoy the same level of regulation as other assets, and you might not be eligible for certain types of compensation. There are also platforms that are not licensed in general, which is another potential issue, depending on where you reside.

Another potential downside is brokers’ tendency to support a limited selection of crypto. Cryptocurrencies are not as widespread on low-deposit brokers as they are on exchanges that have low or no minimum deposit requirements. Therefore, it is quite possible that you might not find a specific cryptocurrency you wish to trade on a given platform. You might, therefore, find yourself forced to go with an exchange over a broker, even if you would have preferred the latter.

Additionally, cryptocurrencies that are available in the market categories of brokers are often a part of the broker’s selection of CFD products. CFDs (contracts of difference) are speculative derivatives that carry substantial risk, so those who would like to avoid them would once again be locked to a particular type of platform.

Written by Z. Stefanova