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CFDs are leveraged products and can result in the loss of your capital. All information collected on 1/11/2017.

The Ultimate Guide to

Choosing a Broker
For Trading Litecoin

Not sure which broker is right for you?

Don’t worry - we’ve got you covered. In this guide, you’ll learn:

Ready?

Part 1

Why Choose
For Trading Litecoin?

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

  • + years in business
  • Offers + instruments
  • A range of platform inc.
  • 24/7 customer service
  • Tight spreads from pips
  • Used by 0+ traders
  • Offers demo account
  • 0 languages
  • Leverage up to

offers one way to trade: . If you wanted to trade LITECOIN through copy trading or other means, skip to part two.

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.

have a trust score, which is . This is largely down to them being regulated by , segregating client funds, being established for over years, and much more. For comparison:

Trust Score comparsion

Trust Score
Year Established
Regulated by
Uses tier 1 banks
Company Type Private Private Private
Segregates client funds

The second thing we look for is the competitiveness of the spreads, and what fees they charge. We've compared these in detail in part three of this guide.

Part 2

Who is (& Isn’t)
Suitable For

As mentioned, allows you to trade in one way: .

Suitable for:

  • Spread Betting
  • CFD Trading
  • Forex Trading
  • Social Trading

Not Suitable for:

To trade with , you'll need a minimum deposit of $. offers a range of different account types for different traders including a , .

Finally, isn't available in the following countries: . They do not offer islamic accounts either.

Part 3

A Comparison of vs. vs.


Want to see how stacks up against and ? 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.
Fixed Spreads
Variable Spreads
EUR/USD Spread
GBP/USD Spread
DAX Spread
FTSE 100 Spread
S&P500 Spread
Ripple spreads from
Dash spreads from
Litecoin spreads from
Bitcoin spreads from
Ethereum spreads from

Comparison of account & trading features

Spread type Fixed
EUR/USD Spread
EUR/GBP Spread
Crude Oil Spread
Gold Spread Private Private Private
DAX Spread

Part 4

What is Litecoin?

Litecoin is a cryptocurrency based on bitcoin. It’s an open-source payment network and it is fully decentralised so there are no governing authorities or central banks associated with the currency.

In its most basic format, it is a digital record held in ledgers on servers across the globe.

Payments are controlled by a distributed database called a blockchain. The blockchain is secure by design and acts as the ledger. Data in any block cannot be altered after the transaction without altering all subsequent blocks.

The blockchain is maintained by the Litecoin community who help timestamp transactions. Whenever a transaction is made, it is placed in a pool of transactions that are added to the blockchain by ‘miners’. The first miner to essentially solve a complex coded problem using specialised computer hardware receives a coin and adds their block to the end of the chain. This determines the unique order of the blockchain.

Buying and selling Litecoins is more secure when going through a regulated online broker.

Advantages of trading Litecoin with a regulated online broker

As with almost any internet related activity there are scams to look out for.

Beware of companies that take a start-up fee to instantly exchange Litecoins for money or double the value of assets overnight. It’s rarely true.

Phishing is also prevalent on social media, businesses impersonating the brand to gain access to currency wallets. It’s pretty obvious, but don’t partake of any financial arrangements via direct message. Fake exchanges, cloud mining scams and false investment schemes are all things to look out for.

One of the largest bitcoin exchanges, Mt Gox, provides a sobering instance. The exchange had 850,000 bitcoins stolen in 2014. They didn’t have client fund protection and most of its customers are still waiting to get their money back.

Always go with a regulated broker. AvaTrade for example, is a subsidiary of a company with around $17 billion in market capitalisation. It is registered in Ireland and subject to stringent EU regulation. eToro is also registered in Europe and operates under the Markets and Financial Instruments Directive.

Regulated brokers will give clients peace of mind, and the process of trading Litecoin through these companies is straightforward.

Trading Litecoin through AvaTrade

There are many regulated brokers online, AvaTrade provide a very user friendly interface. The MetaTrader 4 platform works for traders of all experiences. It can be downloaded to PC, tablet or phone.

The platform offers advanced charting options to allow trades and to analyse current trends on the market. Colours and styles can be personalised.

It’s a simple sign up process and thousands of other instruments can be traded.

But, like all currency trades, there are risks. The prices can go up and down depending on a number of factors.

Fundamental influences of Litecoin

Litecoin is a dynamic currency and is influenced by numerous factors in the ‘real’ world.

All cryptocurrencies are incredibly democratic. If someone sells a significant amount of Litecoins the price will invariably go down due to the principles of supply and demand.

If a government decides to regulate digital currencies, this will affect the price – even if the regulation is not directly related to cryptocurrencies. The Cyprus banking crisis in 2013 caused a peak in the value of bitcoin with people attempting to store their wealth where local governments had no jurisdiction.

If more large companies start to accept Litecoin then the price could rise, or if there is another exchange hack, it could go in the opposite direction.

Technology changes also have an effect. A new upgrade to the cryptocurrency blockchain called SegWit has boosted the price of Litecoin.

litecoin-chart

Litecoin Quick facts:

  • Year Litecoin started: 7 Oct 2011
  • Highest price to date: $48 25 Nov 2013
  • Market Capitalisation (6 June 2017): $1,583,895,987
  • Volume of Litecoin exchanged (daily): $343,678,000
  • Block generation time: 2.5 minutes
  • Hashing Algorithm: Scrypt
  • Maximum Supply: 84,000,000
  • Circulating Supply: 51,435,882

Want to trader other cryptocurrencies? You can read more cryptocurrency broker comparisons here:

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