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Best Forex Brokers Ethereum Classic

Marcus Taylor

Written by Marcus Taylor

September 08, 2022

Ethereum Classic is a blockchain computing platform founded by Vitalik Buterin. This platform has the aim of being an innovative Internet structure, much like the Internet of Things. Just as Ethereum now does, Ethereum Classic provides a decentralised platform for smart contracts and executing applications. ETC is the digital token or coin associated with this platform.

As the original Ethereum cryptocurrency, ETC started off as a user community rejection of a hard fork of the Ethereum code in July of 2016, after a vulnerability was discovered that allowed a $60 million hack that needed to be undone to restore coin investments to their rightful holders.

This resulted in Ethereum’s value token Ether or ETH becoming the new forked cryptocurrency with the larger market capitalisation, while Ethereum Classic’s ETC remained the original cryptocurrency that retained its previous un-forked blockchain.

ETC is made up of two components referred to as the world computer and the world database. The world computer is a virtual machine that is part of a global network of computing machines, or nodes, that execute scripts to host and manage the cryptocurrency’s associated globally distributed database.

Together ETC’s world computer and database have these six key characteristics:

  1. Censor-proof:Stopping code execution or denying information access is virtually impossible.
  2. Secure:The entire system is secured with cryptography.
  3. Pseudonymous:All ETC users operate under pseudonyms providing them with a degree of anonymity in making transactions.
  4. Open Source:The necessary software is open source and constantly ready for inspection.
  5. Reliable:The platform is exceptionally difficult to shut down, so it is generally always ready for transactions.
  6. “Trust-less”:No individual person or entity needs to be relied upon or trusted.

Making transactions in ETC is generally far more secure when operating through a regulated online broker. Investors who want to hold ETC can also purchase the cryptocurrency online using payment services like Paypal to purchase bitcoins and then bitcoins to purchase ETC, through one the many available e-currency exchanger services. Note that when selecting a e-currency exchange it is wise to choose a reputable one with a good market standing.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best Forex Brokers for Trading Ethereum Classic

Here are the best forex brokers for trading Ethereum Classic.

  • Interactive Brokers - 9.2/10 Overall
  • eToro - 8.6/10 Overall
  • Swissquote - 8.5/10 Overall
  • OANDA - 8/10 Overall
  • Dukascopy - /10 Overall
Overall Rating
9.2 / 10
Minimum Initial Deposit
$0
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard0.6 (Aug 2022)
All-in Cost EUR/USD - Active0.6 (Aug 2022)
PayPal (Deposit/Withdraw)No
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)No
Regulationexpand_moreexpand_less
Year Founded1977
Publicly Traded (Listed)Yes
BankNo
Tier-1 Licenses8
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)8500
Forex Pairs (Total)90
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingNo
Charting - Indicators / Studies (Total)128
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
8.6 / 10
Minimum Initial Deposit
$10-$10,000
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1 (August 2021)
All-in Cost EUR/USD - ActiveN/A
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded2007
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses2
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)3458
Forex Pairs (Total)49
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)No
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)66
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)No
Economic CalendarYes


Overall Rating
8.5 / 10
Minimum Initial Deposit
$1000
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - StandardN/A
All-in Cost EUR/USD - ActiveN/A
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1996
Publicly Traded (Listed)Yes
BankYes
Tier-1 Licenses4
Tier-2 Licenses1
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)466
Forex Pairs (Total)78
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)49
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
8 / 10
Minimum Initial Deposit
$0
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Highly Trusted
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - Standard1.26 (5/22-5/27/22)
All-in Cost EUR/USD - Active1.26 (5/22-5/27/22)
PayPal (Deposit/Withdraw)Yes
Skrill (Deposit/Withdraw)Yes
Visa/Mastercard (Credit/Debit)Yes
Regulationexpand_moreexpand_less
Year Founded1996
Publicly Traded (Listed)No
BankNo
Tier-1 Licenses6
Tier-2 Licenses0
Investment Optionsexpand_moreexpand_less
Forex TradingNo
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)124
Forex Pairs (Total)71
BitcoinYes
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)Yes
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)81
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsYes
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


Overall Rating
/ 10
Minimum Initial Deposit
100
Trust Score
Trust Score is a numerical rating (from 1 - 99) that represents a broker's overall trust.close
Cost & Fundingexpand_moreexpand_less
Average Spread EUR/USD - StandardN/A
All-in Cost EUR/USD - ActiveN/A
PayPal (Deposit/Withdraw)No
Skrill (Deposit/Withdraw)No
Visa/Mastercard (Credit/Debit)No
Regulationexpand_moreexpand_less
Year Founded2004
Publicly Traded (Listed)No
BankYes
Tier-1 Licenses2
Tier-2 Licenses0
Investment Optionsexpand_moreexpand_less
Forex Trading
Mobile Trading - Forex or CFDsYes
Tradeable Symbols (Total)593
Forex Pairs (Total)60
BitcoinNo
Trading Platformsexpand_moreexpand_less
Virtual Trading (Demo)Yes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Proprietary PlatformYes
Social Trading / Copy TradingYes
Charting - Indicators / Studies (Total)291
Apps & Toolsexpand_moreexpand_less
Android AppYes
Apple iOS AppYes
Has Education - Forex or CFDsNo
Daily Market CommentaryYes
Forex News (Top-Tier Sources)Yes
Economic CalendarYes


How to not get Scammed When Trading ETC

Trading ETC generally takes place over the Internet, so anyone interested in making transactions in this popular digital token should first make themselves aware of the various scams to look out for.

Make sure to steer clear of companies that charge an initial fee to exchange ETC for fiat currency like U.S. dollars. Also remain sceptical of investment management offers suggesting investors can multiply the value of their invested assets within an unrealistic time frame.

Remember, if something seems too good to be true, then it most likely is.

Another prevalent email and social media scam to look out for involves phishing. This is where someone impersonates a well-known brand to obtain access to a person’s cryptocurrency wallet. Avoid getting involved in financial arrangements using emails or direct messages, and steer clear of fake cryptocurrency exchanges, cloud ETC mining scams and fraudulent investment programs.

An unfortunate example of what can go wrong when trading in ETC occurred to traders who held bitcoins at Mt Gox. Mt Gox. was hacked in 2014 resulting in a loss of 850 thousand bitcoins. To make matters worse, since the crypto exchange’s clients were unprotected, they have largely not yet been compensated for this loss.

As a rule of thumb, it generally seems best to select a well-regulated, capitalised and established broker to trade ETC through. Dublin, Ireland based AvaTrade was founded in 2006 and offers an excellent example of a forex, cryptocurrency, CFD and spread betting broker that is regulated in several jurisdictions, including the European Union (EU), Australia and Japan. It is also owned by a well-capitalised parent company, which can make a big difference in case of insolvency.

Another example of a well-regulated online broker is eToro, which also operates subject to European regulations under the Markets in Financial Instruments Directive (MiFID). This broker specialises in providing social and copy trading services that include cryptocurrencies like ETC.

In short, regulated brokers generally provide traders with greater security and a more reliable transaction service for ETC and other popular cryptocurrencies.

Trading ETC Through AvaTrade

Of the various brokers that allow cryptocurrency trading, AvaTrade offers a very popular and easy to use trading platform called MetaTrader 4, or MT4. This free platform was developed by MetaQuotes and can be used by traders of all levels of experience. Different versions can be downloaded for Windows or Mac desktops, as well as for Android or iOS tablets and smartphones.

The MT4 platform has a variety of advanced technical analysis features, in addition to a news feed and a customisable interface. It also facilitates automated trading and boasts a very broad and enthusiastic user base that has developed many expert advisors (EAs) and custom indicators.

AvaTrade offers an execution service in thousands of tradeable assets. It is a simple procedure to sign up with the online broker as a trader and fund a live account. Demo accounts are also available.

As with any currency transaction, significant risks are associated with trading ETC, which is often far more volatile than fiat currencies manged by central banks. ETC’s value can also go up or down depending on several key factors as described in the section below.

Key Influences on ETC

Ethereum classic trades actively and has numerous factors that influence its value in fiat currency terms. Cryptocurrencies such as Ethereum tend to behave in a somewhat democratic manner since if a large trader buys a lot of the cryptocurrency, then its relative value will generally rise since the available supply has fallen.

Several key factors can have a notable impact on the value of Ethereum, including:

  1. When governments step in to regulate or prohibit the trading and/or use of digital currencies it can cause the value of these currencies to decline.
  2. If people need to store their wealth in socio-economic environments where they seem to have lost faith in their governments, such during the banking crisis in Cyprus 2013.
  3. More big payment companies starting to accept ETC in exchange for goods and services.
  4. Technological changes that alter the function and/or security level of ETC’s blockchain.
  5. Overall movements in the cryptocurrency market as its popularity rises and falls.

ETC Quick facts:

Source: CoinMarketCap

  • Date Ethereum Classic started: July 30, 2015.
  • Daily volume of ETC exchanged (July 2, 2019): $898,389,337
  • High closing price in U.S. dollars: $45.51 on January 13, 2018.
  • High closing price in bitcoins: 0.00886437 BTC on June 18, 2017.
  • Market Capitalisation (July 2, 2019): $840,916,585.
  • Estimated Circulating Supply: 111,645,640 coins.
  • Maximum Supply: 210,000,000 coins.
  • Top social trading broker to include ETC as a trading instrument: eToro.

Chart of ETC in U.S. dollars and bitcoins (BTC) during ETC’s entire trading period from July 2015 up until July 2, 2019 including daily volume and market capitalisation numbers. Source: CoinMarketCap

BrokerNotes.co 2022 Overall Rankings

To recap, here are our top forex brokers allowing you to trade cryptocurrency, sorted by Overall ranking.

Company Overall Rating Minimum Initial Deposit Average Spread EUR/USD - Standard Trust Score Trust Score Tradeable Symbols (Total) Visit Site
IG logoIG 9.7 £250.00 0.86 (September 2022) 99 Highly Trusted 19537 Visit Site
Saxo Bank logoSaxo Bank 9.5 €2,000 0.9 (September 2022) 99 Highly Trusted 60000
CMC Markets logoCMC Markets 9.4 $0 0.51 (August 2022) 99 Highly Trusted 12377
Interactive Brokers logoInteractive Brokers 9.2 $0 0.6 (Aug 2022) 99 Highly Trusted 8500
TD Ameritrade logoTD Ameritrade 8.9 $0 1.25 pips (September 2022) 99 Highly Trusted 0
FOREX.com logoFOREX.com 8.7 $100 1.0 (July 2022) 99 Highly Trusted 5500 Visit Site
XTB logoXTB 8.7 $0 1.07 (Q3 2022) 95 Highly Trusted 12000
City Index logoCity Index 8.7 £100.00 1.0 (July 2022) 99 Highly Trusted 13500
eToro logoeToro 8.6 $10-$10,000 1 (August 2021) 93 Highly Trusted 3458
Swissquote logoSwissquote 8.5 $1000 N/A 99 Highly Trusted 466
AvaTrade logoAvaTrade 8.2 $100 0.91 (Aug 2020) 93 Highly Trusted 1260
Plus500 logoPlus500 8.2 €100 0.6 (as of Aug 2018) 98 Highly Trusted 2800
FXCM logoFXCM 8.3 Starts from $50 1.38 (Q2 2022) 96 Highly Trusted 441
Admiral Markets logoAdmiral Markets 8.1 $100 0.8 (July 2021) 87 Trusted 8425
FP Markets logoFP Markets 8.3 $100 AUD 1.2 (August 2022) 86 Trusted 9956
IC Markets logoIC Markets 8 $200 0.62 (August 2021) 86 Trusted 3583
OANDA logoOANDA 8 $0 1.26 (5/22-5/27/22) 92 Highly Trusted 124
Capital.com logoCapital.com 8.1 $20 0.6 (July 2021) 77 Average Risk 6000
Markets.com logoMarkets.com 8.1 $100 1.9 (as of Oct 2019) 98 98 2179
XM Group logoXM Group 8 $5 1.6 (Aug 2020) 90 Trusted 1372
Pepperstone logoPepperstone 8 $200 0.77 (September 2022) 93 Highly Trusted 1200
FxPro logoFxPro 8 $100 1.51 (August 2020) 90 Highly Trusted 2249
Tickmill logoTickmill 7.8 $100 0.51 (August 2022) 82 Trusted 295
HYCM (Henyep) logoHYCM (Henyep) 7.7 $100 0.6 (Sept 2021) 86 Trusted 245
DooPrime logoDooPrime 7.7 $100 -1 84 Average Risk 10000
Fineco Bank logoFineco Bank 7.7 $0 N/A 92 Highly Trusted 126
HFM logoHFM 7.6 $5 1.2 (August 2021) 85 Trusted 3500
BDSwiss logoBDSwiss 7.6 $100-$5000 (depending on account type) 1.6 (08/10/22) 83 Trusted 1081
Vantage logoVantage 7.4 $50 1.22 (August 2021) 83 Trusted 257
Trading 212 logoTrading 212 7.4 EUR 10 N/A 77 Average Risk 1785
Moneta Markets logoMoneta Markets 7.3 $50 1.27 (September 2022) 71 Trusted 965
Trade Nation logoTrade Nation 7.1 $0 0.6 83 Trusted 601
ACY Securities logoACY Securities 7.2 $50 1.2 (Sept 2021) 75 Average Risk 1600
Eightcap logoEightcap 7.2 $100 N/A 87 Trusted 326
ThinkMarkets logoThinkMarkets 7.3 $250.00 N/A 86 Trusted 1674
BlackBull Markets logoBlackBull Markets 7 $0 0.827 (August 2022) 74 Average Risk 26000
VT Markets logoVT Markets 7.2 $200 1.2 (September 2021) 71 Trusted 168
easyMarkets logoeasyMarkets 7.3 $100 0.9 (as of Mar 2020) 84 Trusted 199
TMGM logoTMGM 7 $100 0.96 (July 2021) 79 Average Risk 12000
Exness logoExness 7.2 $1 0.9 (as of May 19) 74 Average Risk 112
Spreadex logoSpreadex 7.2 $0 -1 70 Average Risk 2000
IronFX logoIronFX 7.1 $50 1.2 84 Trusted 340
RoboForex (RoboMarkets) logoRoboForex (RoboMarkets) 7.1 $100 1.4 (Jan 2022) 69 High Risk 12000
Trade360 logoTrade360 7 $250 N/A 75 Average Risk 1062
AxiTrader logoAxiTrader 7 0 N/A 83 Trusted 175 Visit Site
GKFX logoGKFX 7 $0 N/A 66 High Risk 354
Vestle logoVestle 7 -1 -1 79 Average Risk 750
TeleTrade logoTeleTrade 7 $100 -1 67 High Risk 500
FXOpen logoFXOpen 7 $100 N/A 80 Trusted 87
OctaFX logoOctaFX 6.8 $25 0.6 (August 2021) 67 High Risk 80
Forex4you logoForex4you 6.9 $0 -1 62 High Risk 150
LegacyFX logoLegacyFX 6.8 $500 0 75 Average Risk 425
FXPrimus logoFXPrimus 6.8 $100 N/A 69 High Risk 140 Visit Site
Alpari logoAlpari 6.8 $20 N/A 67 High Risk 105
GBE brokers logoGBE brokers 6.7 $500 -1 69 High Risk 500
TopFX logoTopFX 6.5 Depends on payment method N/A 67 High Risk 655
ATFX logoATFX 6.6 $500 -1 70 Average Risk 150
UFX logoUFX 6.5 $100 3 (Jan 2021) 67 High Risk 619
Libertex (Forex Club) logoLibertex (Forex Club) 6.5 $10 -1 72 High Risk 300
Xtrade logoXtrade 6.5 $250 -1 80 Trusted 142
Tradeo logoTradeo 6.4 $200 -1 67 High Risk 256
View More

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Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.

About the Author

Marcus Taylor
Marcus Taylor

BrokerNotes was founded in 2014 by Marcus Taylor, founder and CEO of Venture Harbor, a venture studio in Oxford that develops innovative online tools & technology across a range of sectors.


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