Bitcoin Forum

I need a list of Forex Brokers that accept crypto as a means of buying foreign currency. Please list them here. Thanks.

What country are you in? Therell be a divide between the US and everywhere else.

Etoro are one in Europe for example, they allow conversion and then usage I'm not sure if they allow direct usage and they're one of those companies that'll keep trying to call you until you block their number (or answer them) ...

Everything is a google search away bud.

https://www.allfxbrokers.com/brokers/deposit-options/bitcoin

Check this out, you're obviously going to have the issue with US -- non US -- but I'd just run through this list and see what that looks like for you. Goodluck with forex trading.

There's too many that accept crypto. But really, what features are you after? Anonymity? Leverage?

Each one of them has varying levels of KYC and features. I think one of the most crypto friendly ones that also has leverage is simplefx.com. They also have a thread here:
https://bitcointalk.org/index.php?topic=1059253.0

Be careful though. Many of those platforms with questionable licenses usually also have some dodgy practices due to lack of control. Offshore paradises aren't good at caring individual user reports for fraud. They'd rather have the money from the broker.

Yeah this is something that I forgot to put a note in about. You're going to have to do your own due diligence relating to these brokers, as they're obviously not going to be licensed like regular forex brokers (with the proper licenses, bank accounts, oversight, etc) these companies are most likely not going to follow any sort of regulations and are going to be a bit shady.

I'd recommend looking DEEPLY into whatever one you choose to use. Look them up on forex trading websites to see if people have had any issues with deposits (being posted) and withdrawals. You can never be too safe. Not your keys, not your coins :)

Yet again, goodluck!

Right, so how does the Forex work exactly. Do you all have any experience with that?

Do you actually mean that? That you want to exchange crypto for foreign currency, as in folding notes?


The Forex?
"Foreign Exchange", on a personal level, was what the name says.
E.g. if you were a German (in pre euro days) visiting France you would exchange your domestic currency (marks) for foreign currency (francs) either formally thru your bank or informally P2P, in order to buy stuff in shops etc.
"Forex" nowadays generally refers to speculative derivative trading, which is offered by many brokers and platforms where you bet on the movement of currency pairs, such as USD/EURO. As most trading is done with Technical Analysis, you could be trading in anything, porkbellies, indexes, oil etc. etc.
As in all derivative trading, it's estimated that around 75% of individual speculators lose all their original gambling pot, and you can't take physical delivery of the underyling asset by going long of its derivative.

Right, so if you wanted to buy some foreign currency other than using a bank, could they use a Forex to do so?

What do you mean?

You'd create an account, read the terms, log in and deposit and then start trading?

It'll depend on what platform you use as to whether those funds will be immediately converted into usd or whether they'll be held in btc until you open a trade and then have to convert it first.

Etoro is the only that I've noticed advertising BTC and forex. but if you wanna ask the right people go to babypips, they are more exposed to these type of brokers.


He'd be trading currencies like the USD, GBP and EUR, this is like trading in crypto. He isn't literally buying banknotes of other countries. The concept of leverage are normally from FOREX market but gradually its been adopted in crypto right now but its almost the same thing.

Ok so you go on a Forex and you can withdraw Fiat and actually receive the currency?

You are still not being clear.
Answer these questions
1) Do you want to exchange your crypto for actual cash (banknotes) which is not your own country's currency?
2) Do you want to do this without using a fiat bank account?

If the answers are yes and yes, then a P2P transaction or a reverse ATM are the only ways, but then you will have to be in the country which uses the foreign currency you want.
For example, if you are French and you want Japanese Yen in cash in exchange for your Bitcoin, you really need to be visiting Japan to do one of those two things. Otherwise you need to use a bank account.
I don't know of any Foreign Exchange shops in my country that will accept crypto and give me cash in another country's currency in exchange.

Right to both.

You can get buy a plane ticket with crypto and then fly to the desired foreign country with an Bitcoin ATM and exchange your coins to cash there.  8)

Haha not that rich yet

The only other option I can think of is for you to make local contact in your home country with immigrants who come from the country whose currency you want, and then find out if, in that immigrant community, there is any group or individual who is interested in crypto, and make personal contact.

Most major high streets in most major countries will have them.

Coinbase probably allow euros to be used everywhere (probably)?

Etoro will let you withdraw to PayPal imo...

@quakie, the best way to get anywhere is going to be by sitting down for a few hours and looking through different sites relevant to your country. Or at least tell us the currency you want to convert to so we can check if a site will accept that.

This got me laughing hard here.
Isn't suppose to be marketing strategy ?
Or don't we subscribe to that as being serious minded?  ;D :o

Anyway, I can understand and can relate to that.
I have a broker like that too, trying to win you.

It looks like you are confused with the difference between Bitcoin exchanges and Forex trading. I have a lot of people coming to me and asking me to provide them with a Forex platform where they can trade Bitcoin and I then explain to them that you get Forex platforms where you can exchange different Fiat currencies for bitcoins and you get specific Bitcoin exchange platforms where you only trade between the local Fiat currency and Bitcoin and a limited amount of Alt coins.

People seem to think that you have to buy and sell bitcoins at a Forex exchange, but there are actually a lot of other platforms where you can specifically trade Crypto currencies.

Why are you specifically looking for a Forex platform? Do you deal in many different currencies every day? 

Yeah they wanted you to hold at least $5000 in assets with them so they can make something from the interest and in return will give you a personal advisor.

It's a good idea if you have no idea what you're doing, but if you do it just gets annoying and you have to block them pretty quickly.

There are lots of forex brokers that are accepting bitcoin as their payment method and I only know about few of them. You can still do your research if you would like to know about them. There are brokers like FXTM and they are quite popular and are accepting bitcoin as a payment method.

I have seen some reviews about them by some users and some people did complain about their services and them having static spreads. I saw a lot of complaints and its just a regular you would see about most of these forex brokers. Others are Hotforex and OctaFX. Never forget to do proper research before choosing any broker. Read mostly the reviews where they are rated poorly to know why they got such rating and whether its something you’d benefit from.

UFX
10 market
Whaleclub
XBTFX
XtreamForex
VolumeFx
Trade360
ZARFX
TTCMtraders
TiFia
Superforex
SunbirdFX
SimpleFX
ProfiForex
JustForex
InstaForexGroup
IMMFX
FX glory
FX Primus

There are a lot more , just sort them by your locality, which one is available and which one isn't
Best of luck.

Where did you get that list of shit from?
Have you used any of them?
Looked at real reviews of their scamminess?
I suggest you think seriously about deleting that post.

As far as I know, HotForex is also available in crypto trading, although not many are listed, only major coins are traded, such as bitcoin, ethereum, litecoin etc. from the list you provided I have used Instaforex and JustForex brokers, both are old brokers that I feel are undoubtedly their credibility

SimpleFX should be a good fit your your needs.
Please visit  SimpleFX WebTrader (https://app.simplefx.com/)  - no need to register to check out our offer.
We accept Bitcoin, Bitcoin Cash, Dash, Ethereum, Ethereum Classic, Litecoin, Monero and Tether as payment methods.

You can check out the list;
https://www.allfxbrokers.com/brokers/deposit-options/bitcoin
This do only talks about BTC/USD ones.

Basing on experience i do make use of Simplefx and Tradersway brokers.

Looks and sounds to iffy for me.. I need something a lot simpler without all the other "stuff" that goes along with it.

The Forex world is littered with scams, just like crypto.
None of these suggestions fit your need for no bank account involvment.
*unwatch*

I don't know it sounds a little too problematic at this stage.