In order to start trading cryptocurrencies, it is necessary to open a trading account with a crypto broker. Fortunately, this is now quite uncomplicated and quick with most brokers.
To open a trading account for live trading, the following information is usually required:
- Personal details (including name and address)
- Information about your financial situation (income and assets, which is not checked)
- Previous trading experience
It is also necessary to confirm one's identity and address. For this purpose, it is usually sufficient to send the identity card to the broker (by e-mail or via the upload function on the broker's website).
It is also necessary to make a minimum deposit into the account.
Online broker comparison crypto: different minimum deposit requirements
With many crypto brokers, you often have the choice between different trading accounts in login Exness. As a rule, the accounts differ mainly in the spreads offered and in the leverage available. Sometimes there are also special accounts for beginners and advanced traders. Occasionally, some brokers also offer their customers so-called VIP accounts.
On these accounts, you often not only receive excellent trading conditions, but also additional services. Examples of this are preferential treatment in customer support, better training offers or enhancements for the trading platform. With some brokers, you can choose freely between the different trading accounts. In our experience, however, it often depends on the deposit made whether you can use a VIP account, for example.
To start with crypto trading, a few 100 € are sufficient with many brokers. For a VIP account, however, the minimum deposit can also be in the four- or five-digit range.
However, in our experience, it is usually completely sufficient to open a "standard" account with a crypto broker. In general, it is advisable to look closely at the differences between the respective accounts. This way, you can decide for yourself which conditions and services you need. On the other hand, if you only want to open a demo account to test a crypto broker, you usually only need to enter your name and email address to register.
User-friendliness and clarity of the website
The website of the provider also plays a significant role in a crypto broker evaluation. In our experience, you can often tell from the broker's website whether you are dealing with a customer-friendly and reputable company.
For us, the following points play an important role:
- How clearly is the website structured?
- Can information about the trading offer as well as the costs and fees be found quickly?
- Is it clear at first glance how to reach the broker?
- Does the website contain information on regulation and deposit protection?
- Is the website easy to use on mobile devices such as smartphones and tablets?
In general, we advise against brokers who try to "hide" important information from the users of the website.
However, here too there are better and worse providers as far as the quality of the translation is concerned. This problem does not arise with a German broker. Nevertheless, in our experience, you can open a trading account with a broker based in the European Union without hesitation.
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