Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

Compare Brokers For MIOTA

For our trading iota comparison, we found 7 brokers that are suitable and accept traders from United States of America.

We found 7 broker accounts (out of 147) that are suitable for Trading IOTA.

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ThinkMarkets

Spreads From

Bitcoin N/A points See all spreads

What can you trade?

  • Forex
  • Cryptocurrencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About ThinkMarkets

  • Regulated by: Financial Conduct Authority and ASIC.
  • Established in 2010 HQ in Australia.

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

Open a demo account

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Losses can exceed deposits

Read our in-depth ThinkMarkets review

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

The Ultimate Guide to

Trading MIOTA (IOTA)

IOTA is an innovative data transfer layer and fee-free transactional settlement system designed for the Internet of Things (IoT). It uses a new distribution ledger called the Tangle that claims to offer greater operational efficiency compared with other blockchain designs. It also provides a new consensus reaching method for decentralised peer-to-peer systems.

The Tangle ledger uses a data structure known as a Directed Acyclic Graph (DAG) that differs in some key ways to those employed in a traditional blockchains like Ethereum’s and Bitcoin’s. Each transaction that takes place on IOTA’s network requires the approval of two previous transactions by doing a modest amount of Proof of Work (PoW). This allows the IOTA network to scale faster than traditional blockchains that use mining, such as Bitcoin’s.

Basically, the ability to transact using IOTA’s network without fees comes in return for helping secure its network. Having no transaction fees makes it practical for IOTA to handle very small transactions known as ‘nanopayments’. This also allows internet-connected devices operating via the IoT to make tiny transactions among themselves.

IOTA is also the name for the digital tokens used on the IOTA system, and one million of these low value tokens is called a MIOTA. The entire supply of IOTA tokens was sold for bitcoins in December 2015 in a crowd sale for roughly $584,000. The IOTA user community then donated five percent of these tokens to create the IOTA Foundation. This organisation performs the research and public education required to develop and promote IOTA.

How to not get scammed when trading MIOTA (IOTA)

When undertaking transactions in IOTA it is always advisable to use a regulated online broker, especially as fraudulent activity online is not uncommon. For more information on this have a read of “Scams to look out for”. 

As a quick summary of key suspicious behaviours that one should be cautious of includes: (a)  firms that require a start-up fee to exchange IOTA for cash instantly; (b) any investment schemes that claim it will double invested funds overnight ; and (c) fake cryptocurrency exchanges or cloud mining scams.

Social media messages and emails are also prone to phishing scams where people impersonate legitimate businesses to obtain private data or access to accounts and currency wallets. In order to reduce the risk of being a victim of phishing, one should avoid making financial arrangements through direct messages.

A significant risk of theft due to hacking also becomes a reality when dealing with cryptocurrency exchanges. Mt. Gox was a classic example of a major exchange that lost 850,000 bitcoins owned by clients due to a hack in 2014.

In short, it is always advisable to choose a regulated online broker for IOTA or any cryptocurrency trading when possible. There are many to choose from, including the Ireland based AvaTrade, a subsidiary of a firm worth over $17 billion, or eToro that also allows social trading.

Both of these brokers are registered in Europe, operating under the strict Markets and Financial Instruments Directive regulations and subsequent revisions.

Trading MIOTA (IOTA) through AvaTrade

Among the regulated online brokers, AvaTrade offers a user friendly and popular trading platform known as MetaTrader 4 (MT4). This platform will suit traders of all experience levels and can be downloaded to work on desktops, tablets or smartphones, in addition to being accessible via a Web based version.

MT4 offers advanced charting capabilities that allow trades to perform technical analysis. It also allows users to personalise their display colours and styles to their taste.

Signing up to trade IOTA via AvaTrade involves a simple sign up and approval process. Once an account is opened, traders can access markets in thousands of other instruments as well.

Key influences on MIOTA (IOTA)

All currency trading involves taking risks. Trading in a dynamic cryptocurrency like IOTA is no exception. The value of IOTA can rise or fall depending on several factors.

Although there is a very large amount of IOTA in circulation, changes in supply and demand of the token can impact its value. For example, a large buyer will tend to raise the price and support the market, while a larger sale will tend to depress it.

Furthermore, the value of cryptocurrencies can drop when governments take steps to regulate them, especially if they ban or restrict their use. Moreover, events like the Cyprus banking crisis in 2013 was linked to causing a spike in bitcoin, with people using cryptocurrency as a means to store wealth outside of its jurisdiction can have also impact digital token values.

On the other hand, exchange hacks like that of Mt. Gox can also hurt cryptocurrency prices, as investors lose faith in the system of exchanges. In addition, a boost for particular digital tokens can occur when large companies begin accepting them in exchange for service and goods.

Chart of IOTA from its ICO to 1st August 2019. Source: CoinMarketCap.

MIOTA (IOTA) Quick facts:

Source: CoinMarketCap.

  • When IOTA started trading: June 2017
  • Highest price to date: $5.69 USD on 19th December 2017
  • Market capitalisation (30th July 2019): $801,995,295
  • Volume of IOTA exchanged (daily): $12,169,789
  • Maximum Supply: 2,779,530,283 MIOTA
  • Circulating Supply: 2,779,530,283 MIOTA

Want to trade other cryptocurrencies? 

If trading other cryptocurrencies seems interesting, here are some additional comparisons of regulated online brokers that offer access to these digital tokens:

Why Choose ThinkMarkets
For Trading IOTA?

ThinkMarkets scored best in our review of the top brokers for trading iota, which takes into account 120+ factors across eight categories. Here are some areas where ThinkMarkets scored highly in:

  • 8+ years in business
  • Offers 50+ instruments
  • A range of platform inc. MT4, Mac, Web Trader, Tablet & Mobile apps
  • 24/7 customer service
  • Tight spreads from 0.10pips
  • Used by 0+ traders.
  • Offers demo account
  • 2 languages

ThinkMarkets offers two ways to tradeForex, CFDs. If you wanted to trade BITCOIN

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

ThinkMarkets have a B trust score. This is largely down to them being regulated by Financial Conduct Authority and ASIC, segregating client funds, being segregating client funds, being established for over 8

Trust Score comparison

ThinkMarkets
Trust Score B
Established in 2010
Regulated by Financial Conduct Authority and ASIC
Uses tier 1 banks
Company Type Private
Segregates client funds

A Comparison of ThinkMarkets


Want to see how ThinkMarkets? We’ve compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
ThinkMarkets
Fixed Spreads
Variable Spreads
EUR/USD Spread 0.10
GBP/USD Spread 1.2
DAX Spread
FTSE 100 Spread N/A
S&P500 Spread
Ripple spreads from N/A
Dash spreads from N/A
Litecoin spreads from N/A
Bitcoin spreads from N/A
Ethereum spreads from N/A

Comparison of account & trading features

ThinkMarkets
Platform MT4, Mac, Web Trader, Tablet & Mobile apps
Services Forex, CFDs
Base currency options USD, GBP, EUR, CHF, JPY, SGD, AUD, CAD, NZD, CNH
Funding options Payoneer, Credit cards, Bank transfer, Neteller, BPAY, UnionPay, FasaPay, DebitCard,
Micro account
ECN account