Best Crypto Brokers in Ireland for 2024

Written by Naylyan Nazifova

Naylyan Nazifova

Naylyan Nazifova is a recognised expert in the online trading field. She has many publications and analysis covering forex trading, stock investing and personal finance. 

, | Updated: August 6, 2024

In recent years, Ireland has shown bigger acceptance for cryptocurrencies, which has also made the crypto trading scene a lot more open, allowing Irish traders to invest in a variety of popular crypto coins.

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

3IC Markets

Rating: 4.7 ⭐

70.64% of retail investor accounts lose money

4AvaTrade

Rating: 4.5 ⭐

76% of retail investor accounts lose money

5Global Prime

Rating: 4.4 ⭐

74-89% of retail CFD accounts lose money

6Eightcap

Rating: 4.2 ⭐

76.09% of retail investor accounts lose money

7eToro

Rating: 4.2 ⭐

51% of retail investor accounts lose money

8Plus500

Rating: 4.1 ⭐

80% of retail investor accounts lose money

9Oanda

Rating: 4.1 ⭐

72% of retail CFD accounts lose money

10IG

Rating: 3.6 ⭐

70% of retail client accounts lose money

If you are seeking the best broker platforms catering to Irish crypto traders, we suggest checking the list we have provided below. Our team of trading experts has thoroughly examined all of the brokers on our list, taking into account key features like regulation, tradable options, spreads, payments, and more.

Ireland Crypto Brokers Ranked by Trustpilot Score

Ireland Crypto Brokers Spreads

Top 10 Crypto Brokers in Ireland

1. TRADE NOW READ REVIEW
   1. IG

   Min Deposit	No minimum
   Regulations	FCA, BaFin, FINMA, CFTC, ASIC, FMA, MAS, FSA, FSCA, DFSA, BMA
   Tradable Coins	16
   Software	Proprietary platform, IG App, MT4, ProRealTime
   Crypto Leverage	2:1 (Retail); 10:1 (Pro)
   Fees	Long positions overnight funding charge of 0.0764% (27.5% per-annum); Short positions overnight funding charge of 0.0347% (12.5% per-annum)
   Exchange/Wallet	No
   Deposit Methods	Visa, Mastercard, Bank Transfer
   Withdrawal Methods	Visa, Mastercard, Bank Transfer

   IG was founded in 1974, becoming the world’s first spread betting company back then. Nowadays, it is one of the biggest trading services providers globally, covering a variety of markets, including cryptocurrencies. The broker welcomes Irish traders, allowing them to explore a couple of ways to trade 16 crypto assets as well as the Crypto 10 index which includes 10 of the most traded crypto coins.

   IG offers Irish investors the opportunity to trade crypto either through its innovative Turbo24 system or via crypto CFDs. It should be noted that only Bitcoin and Ether are the only crypto coins that can be traded on Turbo24 with the rest of the digital assets being offered only in the form of CFDs. Nevertheless, both ways to trade crypto allow investors to speculate the price of a crypto coin without actually gaining any ownership over the underlying asset.

   As for the trading cost for crypto traders, IG has made sure that it offers some of the most competitive commission rates and spreads. Turbo24 traders will enjoy no commission on any trade with a volume exceeding €300. Meanwhile, all crypto CFD traders will have zero commission attached to them. Instead, traders will pay a small fee that is built into the competitive spreads of IG. Leverage is also available to Irish traders, with a maximum of 2:1 ratio available to retail crypto traders and up to 10:1 to those who qualify as professional traders.

   Key Pros

   • Crypto traders can choose between Turbo24 and CFD trading
   • Turbo24 trades over €300 incur zero commission
   • All crypto CFD trades impose no commission
   • Crypto 10 index offers wide coverage through a single trade
   • Both Turbo24 and CFDs on crypto allow leverage use

   Key Cons

   • Turbo24 supports only Bitcoin and Ethereum trading
   • Turbo24 is supported only on the IG proprietary web and mobile platforms
   • Could expand its cryptocurrency coverage
   CFDs are complex instruments. 70% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.
2. TRADE NOW READ REVIEW
   2. AvaTrade

   Min Deposit	€100
   Regulations	ASIC, CBI, FSA, BVIFSC, FCSA, JFSA, ADGM, ISA
   Tradable Coins	20
   Software	MT5, WebTrader, AvaOptions, AvaSocial
   Crypto Leverage	2:1 (Retail); 10:1 (Pro)
   Fees	No commission, €50 inactivity fee (after 3 consecutive months of no activity), €100 administration fee (after 12 consecutive months of no activity)
   Exchange/Wallet	No
   Deposit Methods	Visa, Mastercard, Wire Transfer
   Withdrawal Methods	Visa, Mastercard, Wire Transfer

   Irish traders can rely on AvaTrade when it comes to enjoying a smooth crypto trading experience. Registered with the CBI, AvaTrade ensures it is a trustworthy broker that will offer all investor protection tools and still make sure that traders are enjoying some of the best trading conditions.

   Members of AvaTrade have the chance to trade CFDs on 20 crypto assets, with both going short and long being among the available trading options. That guarantees traders a potential profit from any price movement. Meanwhile, traders are eligible to use leverage to increase their gains.

   As AvaTrade is compliant with leverage restrictions applicable to providers operating in the EU, the maximum leverage that retail crypto traders in Ireland can use is 2:1. Since members of AvaTrade can apply for a professional trading account, there is also the opportunity to increase the maximum crypto leverage to 10:1. As for the trading cost of AvaTrade, crypto traders will be happy to learn there is no commission attached to orders. Instead, traders pay a small fee that is built into competitively tight spreads.

   Key Pros

   • Offers a range of trading platforms suitable for crypto trading
   • Entity registered with the CBI
   • Crypto CFD trading incurs no commissions
   • Offers competitive spreads on crypto
   • Crypto traders can take both short and long positions

   Key Cons

   • Limited number of supported payment options for Irish traders
   • Need to go through a chatbot before contacting a real support agent
   • Broker charges an inactivity fee
   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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. eToro

   Min Deposit	$100 (equivalent in other currencies)
   Regulations	FCA, CySEC, ASIC, MFSA, ADGM, FSA, FINRA/FinCEN
   Tradable Coins	100+
   Software	Proprietary Platform, CopyTrader
   Crypto Leverage	2:1 (Retail); 10:1 (Pro)
   Fees	Transaction fee of 1% charged for either buying or selling crypto; 1% trading fee on crypto CFD orders
   Exchange/Wallet	eToro Money Wallet, eTorox exchange (professional traders only)
   Deposit Methods	eToro Money, Visa, Mastercard, Bank Transfer, PayPal, Trustly
   Withdrawal Methods	eToro Money, Visa, Mastercard, Bank Transfer, PayPal, Trustly

   Considering the quality of its services, it is no surprise that eToro is easily one of the most popular brokers worldwide. Operating since 2007, this brand covers a wide range of trading markets, including cryptocurrencies. One thing that makes eToro stand out from its competitors is the spot crypto market available in addition to the CFD crypto options.

   With different ways to trade more than 100 crypto assets, members of eToro can choose to actually own the crypto coin they are trading or simply speculate on its price movement. If you choose to directly buy and sell crypto assets, you will be charged a 1% trading fee, applied on both buy and sell orders.

   CFD trading will allow you to take either short or long positions on a number of cryptocurrencies without actually gaining ownership of the underlying asset. The spread that is applied to your CFD orders is 1%, with no other fees attached to the trades. Since you can engage in spot trading, you can use the eToro Money wallet to store your crypto assets, allowing you instant access to your funds for future trades. While eToro has a dedicated crypto exchange named eToroX, it is not available to retail traders.

   Key Pros

   • Offers both spot and CFD crypto trading
   • No commission charged on CFD trades
   • Covers more than 100 tradable crypto coins
   • Offers dedicated digital wallet for storing crypto
   • Supports a wide range of payment methods

   Key Cons

   • Some brokers offer more competitive CFD crypto spreads
   • Lacks phone support option
   • eToro X not available to retail traders
   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.
4. TRADE NOW READ REVIEW
   4. FP Markets

   Min Deposit	€50 (€100 Bank Transfer)
   Regulations	ASIC, CySEC
   Tradable Coins	12
   Software	MT4, MT5, cTrader, WebTrader
   Crypto Leverage	2:1 (Retail); 10:1 (Pro)
   Fees	No commission; 1% fee on Skrill and Neteller withdrawals
   Exchange/Wallet	No
   Deposit Methods	Visa, Mastercard, PayPal, Neteller, Skrill, Bank Transfer
   Withdrawal Methods	Visa, Mastercard, PayPal, Neteller, Skrill, Bank Transfer

   One of the most trustworthy brokers catering to Irish crypto traders is FP Markets. Launched in 2005, this broker is currently one of the leading names in the trading sector, offering its clients a vast variety of CFD options. Among the different tradable markets covered by FP Markets, there are also cryptocurrencies, allowing traders to speculate on the prices of 12 popular crypto crosses.

   Since FP Markets offers trading crypto in the form of CFDs, traders do not need a digital wallet to store any assets as they are simply speculating on the price of an underlying crypto asset. To show its clients a range of potentially rewarding trading options, FP Markets charges no commission on CFD crypto trades. Instead, there is a slight change in the spread, which is still highly competitive, offering traders the best value for their trades.

   FP Markets allows its clients to take advantage of leverage while trading crypto pairs. Retail traders will be able to enjoy leverage of up to 2:1 while those who classify as professional traders can trade crypto CFDs with leverage of up to 10:1.

   Key Pros

   • Properly regulated broker
   • Covers a wide range of popular crypto crosses
   • Spreads on crypto are rather competitive
   • Charges no commission on crypto CFDs

   Key Cons

   • Allows trading crypto only as CFDs
   • Some payment solutions incur fees on withdrawals
   • Could expand its crypto selection
   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. IC Markets

   Min Deposit	€200
   Regulations	ASIC, CySEC, FSA (Seychelles)
   Tradable Coins	20+
   Software	MT4, MT5, cTrader
   Crypto Leverage	2:1 (Retail); 10:1 (Pro)
   Fees	Swaps on long and short positions of -15 points; Commission built into the spread
   Exchange/Wallet	No
   Deposit Methods	Visa, Mastercard, Skrill, Neteller, PayPal, Rapid Transfer, Klarna, Bank Transfer
   Withdrawal Methods	Bank Transfer, Visa, Mastercard, Skrill, Neteller, PayPal

   With IC Markets catering to traders from different parts of the world since 2007, it is currently one of the leading brokers online. Covering a wide range of markets, IC Markets also offers CFDs on cryptocurrencies, offering Irish traders to engage in top-notch trading experience. Members of the broker will be able to speculate on the price of more than 20 crypto crosses, allowing investors to go both short and long.

   One great advantage of trading crypto with IC Markets is having access to the market 24/7, giving investors the chance to make a profit from any type of price movement. To provide some of the best trading conditions, IC Markets offers tight spreads on various cryptocurrencies. What is more, there will be no commission attached to your CFD crypto orders, with a small surcharge being simply built into the spread.

   To make the trading experience even more convenient for Irish traders, IC Markets supports a range of payment solutions that incur no transaction fees. The potential for bigger gains is also achieved through the option to use leverage of up to 2:1 if you are a retail crypto trader.

   Key Pros

   • Supports a wide range of payment solutions
   • Traders can take long and short positions on crypto CFDs
   • Crypto trading market is available 24/7
   • Supports several popular trading platforms
   • Deposits and withdrawals incur no fees

   Key Cons

   • Requires higher account minimum
   • Crypto can be traded only as CFDs
   • Does not support a proprietary platform
   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.64% 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.
6. TRADE NOW READ REVIEW
   6. Fusion Markets

   Min Deposit	No minimum
   Regulations	ASIC, FSA, VFSC
   Tradable Coins	13
   Software	MT4, MT5, cTrader, DupliTrade
   Crypto Leverage	2:1 (Retail); 10:1 (Pro)
   Fees	0.06% trading fee, Overnight trading fee updated daily
   Exchange/Wallet	No
   Deposit Methods	Visa, Mastercard, Bank Transfer
   Withdrawal Methods	Visa, Mastercard, Bank Transfer

   One of the best destinations for crypto traders in Ireland is Fusion Markets, which is a trustworthy broker operating for clients since 2019. The company offers a range of tradable markets, with crypto CFDs also available to members of the broker.

   Through several popular trading platforms, Fusion Markets clients are able to speculate on the price movements of 13 different crypto crosses, including top traded crypto assets like Bitcoin, Ethereum, Dogecoin, and more.

   Spreads at Fusion Markets are some of the most competitive trading costs you can come across online. What is more, each crypto CFD trade does not incur any commission, allowing you to enjoy even better value for your orders. Fusion Markets also offers its clients to use leverage whenever trading crypto pairs, with retail traders being able to make use of leverage of up to 2:1. Those who qualify for professional traders will be able to further increase the leverage ratio up to 10:1.

   Key Pros

   • Offers various popular trading platforms
   • Spreads on crypto can be very competitive
   • No minimum deposit
   • CFDs on crypto allow traders to go both long and short
   • Charges small crypto trading fee

   Key Cons

   • Supports a limited number of payment methods for Irish traders
   • Allows trading crypto only as CFDs
   • Incurs a trading fee that may increase the overall trading cost
   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.
7. TRADE NOW READ REVIEW
   7. Oanda

   Min Deposit	No minimum
   Regulations	FSA (Poland), CFTC/NFA, FCA, KNF, MAS, IIROC, ASIC, FSA (Japan), FSC
   Tradable Coins	18
   Software	MT5, TradingView
   Crypto Leverage	2:1 (Retail); 10:1 (Pro)
   Fees	0.2 % of transaction fee (at least €5) charged on opening and closing positions
   Exchange/Wallet	No
   Deposit Methods	Visa, Mastercard, Bank Transfer
   Withdrawal Methods	Visa, Mastercard, Bank Transfer

   Whenever you are looking for a reputable crypto broker, you can always head to OANDA’s official website. This broker caters to a wide range of traders, offering its super services to Irish traders as well. The brand has extensive experience in the trading market, operating since 1997. Among the various trading markets available at OANDA, you can also discover CFDs on 18 crypto assets.

   Trading CFDs allows you to take both long and short positions, offering you the chance to gain profits from both price declines and increases. CFD trading allows you to invest in crypto without gaining any ownership over the virtual asset, eliminating the need for a digital wallet.

   Trading crypto CFDs through OANDA’s platforms will allow you to trade popular crypto assets without paying excessive trading fees. The spreads offered at OANDA are always extremely low, and each trade will incur a small trading fee of 0.2% (at least €5).

   Key Pros

   • No minimum deposit requirement
   • Crypto traders have access to innovative and user-friendly trading platforms
   • Trading fees tend to be lower than competitors’ fees
   • Spreads on crypto CFDs are tight
   • Brand regulated by a range of trustworthy authorities

   Key Cons

   • A fee of at least €5 is attached to every trade
   • Irish traders can use a limited number of payment options
   • Allows trading crypto only as CFDs
   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

   72% of retail investor accounts lose money when trading CFDs with OANDA TMS Brokers S.A.

   You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
8. TRADE NOW READ REVIEW
   8. Global Prime

   Min Deposit	No minimum
   Regulations	ASIC, VFSC
   Tradable Coins	39
   Software	MT4
   Crypto Leverage	2:1 (Retail); 10:1 (Pro)
   Fees	0.1% trading fee
   Exchange/Wallet	No
   Deposit Methods	Visa, Mastercard, PayPal, Skrill, Neteller, Crypto, Bank Transfer
   Withdrawal Methods	Visa, Mastercard, PayPal, Skrill, Neteller, Crypto, Bank Transfer

   Irish crypto investors have the opportunity to enjoy a super trading experience once they join Global Prime. This broker has been in operation since 2010 and is currently one of the leading names in the global trading scene. The brand covers several tradable markets, with crypto CFDs being one of them.

   Conveniently enough, there is no minimum deposit requirement, allowing traders to start their crypto trading with as little as they feel comfortable with. Traders are able to deposit into their trading account via several convenient options and withdraw their money in a hassle-free way. The best thing is they will pay no transaction fees, no matter the payment solution they choose to use.

   As for the trading cost paid by crypto traders, Global Prime clients enjoy some of the most competitive prices, with a trading fee of only 0.1% attached to their crypto CFDs orders.

   Key Pros

   • Crypto trading market available 24/7
   • Covers a wide range of crypto assets
   • Trading fees tend to be lower than fees charged by competitors
   • Irish traders can pick from various payment solutions
   • Deposits and withdrawals incur no fees

   Key Cons

   • Competitors tend to offer lower crypto spreads
   • Leverage may not be available to all Global Prime clients
   • Crypto assets can be traded only as CFDs
   Global Prime is a trading name of FMGP Trading Group Pty Ltd (ABN 74 146 086 017) and is regulated by ASIC and licensed to carry on a financial services business in Australia under Australian Financial Services License No. 385620. Gleneagle Securities Pty Limited trading as Global Prime FX, is a registered Vanuatu company (Company Number 40256) and is regulated by the VFSC. The website is owned and operated by FMGP Trading Group Pty Ltd, ABN 74 146 086 017.
9. TRADE NOW READ REVIEW
   9. Plus500

   Min Deposit	$100 (currency equivalent)
   Regulations	EFSA, FCA, CySEC, FMA, FSA (Seychelles), FSCA, MAS, FSA (Dubai), BAPPEBTI
   Tradable Coins	20+
   Software	Proprietary platform
   Crypto Leverage	2:1 (Retail); 10:1 (Pro)
   Fees	No commission, €10 inactivity fee (after 3 consecutive months of no activity)
   Exchange/Wallet	No
   Deposit Methods	Visa, Mastercard, Bank Transfer, PayPal, Skrill
   Withdrawal Methods	Visa, Mastercard, Bank Transfer, PayPal, Skrill

   Operating as a financial service provider since 2008, Plus500 is one of the leaders in the global trading scene. Offering a wide range of instruments, Plus500 also caters to crypto traders looking for a way to profit from investments in digital assets. The broker offers its clients to trade CFDs on more than 20 crypto assets, allowing them to take both long and short positions.

   Trading CFDs allows you to speculate on the price fluctuations of a cryptocurrency without actually owning any amount of the underlying asset. This is one of the most preferred ways to invest in crypto, with Irish traders also having the chance to trade crypto with Plus500.

   To offer the best trading price, Plus500 provides some of the tightest spreads on popular cryptocurrencies, with no commission imposed on your crypto CFD orders. Plus500 offers its dedicated platform, allowing its clients access to a wide range of analytical instruments, charts, and tools that make trading much easier.

   Key Pros

   • Trustworthy broker regulated by a number of authorities
   • Irish traders can resort to various payment options
   • Charges no commission on crypto CFD trades
   • Offers competitive crypto spreads
   • Cover a decent number of crypto assets

   Key Cons

   • Lacks phone support option
   • Charges an inactivity fee
   • No third-party platform options
   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% 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.
10. TRADE NOW READ REVIEW
    10. Eightcap

    Min Deposit	$100 (currency equivalent)
    Regulations	SCB, ASIC, FCA, CySEC
    Tradable Coins	100+
    Software	MT4, MT5, TradingView
    Crypto Leverage	2:1 (Retail); 10:1 (Pro)
    Fees	No commission
    Exchange/Wallet	No
    Deposit Methods	Visa, Mastercard, Neteller, Skrill, PayPal, Wire Transfer, Crypto
    Withdrawal Methods	Visa, Mastercard, Neteller, Skrill, PayPal, Wire Transfer

    Eightcap is a reliable crypto broker, offering its members the chance to invest in more than 100 crypto assets. Going live in 2009, Eightcap is currently one of the best brokerages catering to traders across the globe. With licenses obtained by leading regulators, this company strives to offer the best trading conditions in a secure and fair environment.

    Members of Eightcap can trade crypto as CFDs, meaning traders will simply speculate on the price movements of a cryptocurrency without owning the underlying asset. That enables easy trading without using any external digital wallet to store any crypto coins.

    With spreads often dictating traders’ choice for a crypto broker, Eightcap has made sure to offer its clients some of the tightest spreads on crypto trades. What is more, there will be no commission levied on the trades, making the overall trading cost very affordable. Leverage is available to both retail and professional trading members of Eightcap. To abide by strict regulations, the broker offers retail Irish crypto traders maximum leverage of 2:1 while professionals can increase the ratio up to 10:1.

    Key Pros

    • Offers over 100 crypto CFDs
    • Supports various payment solutions
    • Charges no fees on deposits and withdrawals
    • No commission attached to crypto CFD trades
    • Regulated by top-tier authorities

    Key Cons

    • Chat support is not available 24/7
    • Crypto can be traded only as CFDs
    • Requires deposit of at least $100 (currency equivalent) to activate account
    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.09% 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.

Crypto Exchanges in Ireland

Crypto Exchanges Trading Fees

Binance

Binance is one of the most popular exchanges offering crypto trading options to Irish traders. Launched in 2017, Binance has quickly gained popularity thanks to its competitive prices. Spot and margin trading are among the trading options available to Irish traders, with more than 500 tradable coins available to members of the exchange.

Thanks to its self-custody digital wallet, Binance allows its users to store their crypto assets in a secure way and even use the Binance wallet to trade various coins across different networks. The crypto exchange has also launched its dedicated crypto coin that can be traded and will even offer some exclusive perks to those who trade on Binance’s exchange platform.

While spreads on crypto are dynamic and will often fluctuate, Binance is known for offering some of the most competitive spreads. In addition to that, maker/taker fees are also quite reasonable, starting at 0.1000% / 0.1000% for regular Binance members and reducing all the way to 0.0120% / 0.0240% for traders who have reached the VIP 9 tier. Staking of popular crypto coins is also available at Binance, offering traders to earn profit as they invest in ETH, SOL, USDT, and other crypto assets.

Gemini

Gemini is a crypto exchange that launched its operations in 2014 and it became the first entity to obtain a VASP license from the CBI in 2022. That makes Gemini one of the most trustworthy options for crypto trading in Ireland, offering traders the chance to buy and sell over 70 cryptocurrencies.

As you purchase crypto coins, you can choose to store them in Gemini’s dedicated digital wallet, allowing you to store your digital assets either in a hot wallet or a cold wallet. This will allow you to bypass the inconvenience of resorting to different apps to gain access to your assets.

Trading fees charged when trading crypto include a maker fee of 0.20% and a taker fee of 0.40% for the first tier of the exchange’s VIP scheme. If your monthly trading volume is higher, you have the chance to advance to higher tiers and even reduce the maker and taker fees to 0.00% and 0.03%, respectively. Staking is also available, allowing traders to earn a yield on Ether, Solana, and Polygon.

Coinbase

Coinbase is yet another top performer in the crypto exchange field, starting its operations back in 2012. To expand its reach and get access to the EU market, Coinbase has recently registered as VASP with the CBI. That makes the crypto exchange one of the most reliable platforms catering to Irish crypto investors, allowing them to engage in spot, margin, and other forms of crypto trading.

Irish traders will be able to buy and sell over 260 digital assets, with the self-custody Coinbase wallet allowing traders to store their crypto funds using a single app. While leverage is allowed, the crypto exchange is compliant with regulation imposed by some of the biggest regulatory bodies in the crypto market. That means traders might have certain limitations on the leverage available to trade crypto.

Maker/taker fees at Coinbase are rather competitive, starting at 0.40%/0.60% for regular members who are the first tier of the exchange’s VIP system. Those who accumulate higher monthly trading volumes can upgrade to higher VIP status and reduce the trading fees, with the higher tier dropping the maker/taker fees to 0.0%/0.05%.

Legal Status of Cryptocurrency Trading in Ireland

While cryptocurrencies are still not recognized as legal tender by Irish laws, the country is definitely moving in a positive direction, enabling crypto trading and offering some type of regulatory framework to monitor these investment options. Unlike countries that have outright banned most forms of crypto trading, Ireland has proven to be a lot more liberal, offering Irish traders several trading options when it comes to crypto.

Rather than falling under a specific regulated group, crypto trading in Ireland is regulated by laws and guidelines that apply to other forms of investing legally offered in the country. Brokers supplying crypto trading services are classified as Virtual Asset Service Providers (VASPs). As such, they are governed by the Central Bank of Ireland (CBI), which is also the body that issues the permits for the operation of VASPs.

Under the Criminal Justice Act 2021 (art. 106E), any business conducting financial services in Ireland without authorization from the local regulator can be punished with a fine of a maximum €500,000 or imprisonment of a maximum of five years, or both.

To be able to operate in Ireland, VASPs from other EU member states must be registered with the Central Bank of Ireland. To do that, they need an office located within the country as well as at least one employee based in Ireland to mediate the communication between the offshore VASP and the regulator.

Even though the Central Bank has been constantly warning investors about the risks linked to crypto trading, currently, there is no law prohibiting activities involving crypto assets. That allows businesses registered in Ireland to offer different financial services related to crypto.

What Forms of Crypto Trading Are Legal in Ireland

To be able to conduct financial services related to cryptocurrencies, companies must be registered as VASPs with the Central Bank of Ireland. The type of entities that may apply for a VASP permit include businesses that offer:

• Exchanging virtual assets for fiat money and vice versa
• Exchanging one virtual asset for another virtual asset
• Transfers of virtual assets
• Purses (e-wallets) for crypto owners
• Financial services that involve the offer of a crypto asset issuer or the sale of a digital asset

When it comes to trading cryptocurrencies, with no specific laws banning financial services linked to cryptocurrencies, Irish investors have several available options when it comes to trading popular crypto coins.

Those who do not wish to own a virtual wallet and keep any virtual assets can resort to trading crypto with broker platforms. Several prominent broker entities have been registered as VASP with the Central Bank of Ireland and offer their customers the option to speculate on the price change of major crypto coins. That way, traders are hoping to gain profits from any sharp price fluctuations without gaining any ownership of the underlying crypto asset.

While the European Securities and Markets Authority (ESMA) has introduced a certain restriction on the offering of CFDs to retail traders, Irish investors who register with CBI-regulated brokers will have access to CFD crypto trading even if they open retail trading accounts. With CFD trading, Irish investors can speculate on whether the price of a crypto asset will rise or decline, benefiting from both going short or long. Leverage is also available in most cases, allowing traders to invest bigger amounts and hopefully boost their profits.

In addition to CFD crypto trading, some brokers also offer spot trading, which is the most straightforward way to invest in virtual assets. In this case, you will actually gain ownership of the asset, hoping to gain an advantage from buying and selling assets with a huge gap in the two price points. Spot markets are also covered by crypto exchanges, allowing Irish traders to buy and sell a wide range of crypto coins and apply a similar strategy that focuses on profiting from buying a crypto asset and selling the same asset at a higher price.

Unfortunately, at the moment of writing this article, futures contracts and other derivatives still cannot be accessed on some exchange platforms operating in Ireland. However, quite a few are hoping that the Markets in Crypto-Assets Regulation (MiCA) will soon introduce a better regulatory framework that can also make crypto derivative contracts more accessible for EU traders.

Who Regulates Crypto Trading in Ireland?

As already mentioned, it is the Central Bank of Ireland that is responsible for the regulation of the crypto service providers operating in the European country. Every business that wishes to offer virtual asset services in Ireland must be registered with the Central Bank as a VASP. Depending on the type of crypto service offered by an entity, additional requirements like holding an e-money license may apply.

To receive permission from the Irish regulator, companies must fulfill a set of requirements. Below, we will cover all of the steps required to obtain a VASP permit from the Irish regulator. Before the application process is in motion, entities must ensure they are fully compliant with anti-money laundering and combating the financing of terrorism (AML/CFT) requirements. The set of AML/CFT guidelines businesses must follow are based on the Criminal Justice Act and the Fifth Anti-Money Laundering Directive (5AMLD) of the EU.

The main AML/CFT compliance actions that need to be taken involve:

1. Based on the business that will be conducted, the VASP applicant must adopt internal AML/CFT policy and develop tools to combat threats that may arise
2. Companies must conduct AML/CFT business risk assessment
3. Applicants must prepare organizational charts presenting their strategies for implementing AML/CFT compliance
4. Entities must be transparent about owners/beneficiaries of the business as well as individuals hired on top management positions in the company
5. Applicants must prepare detailed business plan presenting company transaction workflows
6. VASPs must provide information on any outsourcing services and roles involved in the operation of the business

In addition to the AML/CFT compliance, other steps applicants must take to obtain a VASP permission from the Central Bank of Ireland include:

1. Filling out a pre-registration form and submitting the completed form via an email at VASP@centralbank.ie
2. Submitting the VASP AML/CFT registration form through the regulator’s Online Reporting System (ONR)
3. Provide application for any entity that is the beneficial owner of the company applying for a VASP license
4. Provide application for any individual who is the beneficiary of the entity that owns the company applying for a VASP license
5. All individuals appointed as key personal of the company must complete a physical fitness and integrity questionnaires on the ONR of the Central Bank

Fees related to the VASP registration process as well as other specifics of the application procedure can be viewed in the table below:

Common Costs Associated with Crypto Trading in Ireland

Irish investors planning on trading cryptocurrencies will need to keep in mind some additional costs that may apply to their trades. These are standard surcharges that will apply to your orders, no matter whether you choose to trade your preferred cryptocurrency with a broker or an exchange platform.

In order to process your orders, brokers and exchanges may apply a commission that will be charged by the service provider and will vary depending on the entity you have chosen to trade with. Luckily for Irish traders, most brokers and exchanges choose to charge no commission on crypto trades, allowing investors to enjoy the optimal price for crypto assets.

While commissions are not commonly charged, brokers and exchanges still need to gain profits for the services they provide. This is where the spread comes into play, with any trading surcharges usually built into the spread of the virtual asset you choose to trade. Simply explained, the spread is the difference between the bid and ask price of a crypto pair. You will notice that spreads are not of fixed values and different brokers/exchanges will offer ranging spreads on the same crypto pair.

Irish traders are advised to base their trading platform selection on the spreads they may be charged for their crypto trades. That said, other fees that may apply should also be considered as inactivity fees, overnight fees, and other surcharges may sometimes also apply to traders’ orders.

Deposits and withdrawals should also be considered when Irish traders are choosing a crypto broker/exchange to trade with. In most cases, brokers will allow Irish investors to fund their trading accounts via bank cards, bank transfers, and other methods that incur zero transaction fees. Withdrawals are also often fee-free, allowing traders to handle their payments without paying any additional cost.

With exchanges, it is also possible to fund your account by paying no fees, however, if you are using the exchange platform to convert fiat into a cryptocurrency or purchase crypto coins directly via a fiat payment solution, the exchange platform may incur some transaction fees. The rate of these surcharges typically depends on the volume of the purchase as well as some market conditions. Nevertheless, the platform will always notify you about any applicable fees before you confirm the purchase of crypto assets.

Are Profits from Crypto Trading Taxed in Ireland?

With no clear regulation on the crypto market in Ireland, taxation on crypto profits can be a rather vague topic. Taxes in the European country fall under the remit of the Revenue Commissioners, with the yearly taxes including the period between April 6 and April 5 of the following year. While there are no specific taxes on VASPs, entities that have been registered with the CBI as VASPs must pay regular taxes which include:

• Corporate tax – 12.15%
• Capital gains tax – 33%
• Dividend withholding tax – 25%
• Social Security Contributions – 11.05%
• Stamp Duty – 7.5%
• VAT – 23%

One of the reasons why Ireland can be a great destination for newly established VASPs is the three-year Corporate Tax exemption. If the Corporate Tax of new companies is equal to or less than €40,000 per year, these entities can reduce this tax rate to 0%. Meanwhile, if the Corporate Tax in a single year ranges between €40,000 and €60,000, there will be a marginal tax relief.

When it comes to taxes that apply to Irish crypto traders, this can also be a slightly confusing topic, as there is no specific law that has set an exact type of tax crypto investors are inclined to pay. That said, it is not the case that crypto traders in Ireland are completely exempt from paying taxes on their investments.

While CFD trading allows you to speculate on the price movement of a virtual asset without gaining any ownership over the underlying asset, with spot trading you buy and sell a certain amount of the actual crypto asset. That means you gain ownership over the asset and need a wallet to store your digital currencies.

Now, as long as you keep your crypto assets in a digital wallet, you are not subject to any taxation under the current laws implemented by the Irish governing bodies. However, whenever you decide to convert your crypto assets into a fiat currency, you need to pay a Capital Gain Tax on the amount you have gained through the conversion of crypto assets into fiat money.

As the crypto market in the EU is expected to change with the implementation of MiCA, the taxation laws that apply to crypto assets may also change. That is why suggest Irish crypto traders consult local crypto trading experts and ask for legal advice whenever they are uncertain about any taxes imposed on their crypto gains.

How to Pick Quality Crypto Brokers Operating in Ireland?

Picking the best crypto broker usually involves thorough research done by the trader intending to invest in crypto assets. Irish traders should consider several key factors whenever they are on the lookout for the best trading platform offering crypto trades. Below, we will make sure to cover all key elements that make a great broker for crypto trading in Ireland.

Crypto coverage and ways to trade crypto should be one of the leading factors that will guide you toward the right selection of an Irish crypto broker. We should mention that very few brokers that cater to Irish traders support spot markets but there are definitely some brokerages that will allow their customers to engage in a straightforward spot crypto trading.

For those who simply wish to speculate on the price fluctuations of a crypto asset without actually owning the digital asset, some brokers allow CFD crypto trading. With traders offered the chance to either go long or short, crypto investors can gain profit from both declining and increasing price points of crypto assets. Of course, the more cryptocurrencies are covered, the more trading opportunities Irish investors can get. If you are looking for a broker offering trades on more than just your average popular crypto coins, you can check our list of top crypto brokers catering to Irish traders.

Regulation is also at the top of the list of major factors to consider when picking an Irish crypto broker. As already covered in this article, only entities that have registered with the CBI as VASPs are allowed to offer crypto services to Irish investors. We suggest being thorough when checking the license information of brokers and verifying the registration number of the company by looking through the official VASPs register of the CBI.

Applicable fees should also be one of your concerns when looking for the best crypto platform catering to Irish traders. In most cases, brokers do not impose commissions on crypto trades but they do charge a small fee, which is usually built into the spread. That means the difference between the bid and ask price is slightly wider, allowing brokers to gain some profits from the service they are offering. We suggest comparing the spreads on popular crypto pairs of multiple brokers so you can choose the most cost-efficient option. You should also consider other applicable fees as some surcharges may bring the overall trading cost higher even if the spreads are tighter.

Customer support is also essential as it can be of great help whenever you are experiencing some issues with your crypto trades. Always opt for brokers that have multiple contact channels and offer round-the-clock support that can actually provide solutions for your problems.

Written by N. Nazifova