I don't know the gimmicks you guys are playing here but one thing is certain in my long years of trading, there is no forex broker that can beat the service of exchanges as far as cryptocurrency is concerned. If you want to trade FX, Commodity, Energy market, CFD and many more, choose an FX broker. But if you are trading Cryptocurrency, choose an exchange.
I am not using the forex broker (SimpleFx) to trade cryptocurrencies of course rather I am only using it to trade forex pairs only, I am fully aware of using exchange to trade cryptocurrency pairs instead of forex brokers.
These are my reasons;
1. Forex brokers will kill you with high spreads. Where exchanges charge less than $1, they might charge over $15 in some cases.
I am very aware of the high spread associated with trading cryptos with a forex broker thus it's a no-go area for me, Binance charges low fees and at times zero fee for crypto trading but here I trading with the most popular forex pairs e.g EURUSD, USDJPY, USDCAD etc with low spread.
2. You will be forced to pay a swap (daily rollover charges), which could be annoyingly high at times and as the trades tarries.
I am a day trader I always ensured that I close all my trades daily thus I wouldn't rollover my trades till the next day to avoid those charges.
3. Be prepared for manual withdrawal execution as only a little fraction of FX brokers honour it (maybe 0.5% of them), and your withdrawal could be delayed more than a week at times with some of them.
In the case of my broker UDST withdrawal is instant irrespective of whether it's weekday or weekend, except during replenishment of their hot wallet, deposit is also swift without any delay.
4. Although withdrawal shouldn't be a problem for a good forex broker, a lot of complaints about many of them still fulls the internet. The withdrawal of an amount higher than $500 become a problem for them, something that is nothing to exchange. This is why a thorough search for a good broker is advised as regulation might not save you here.
I don't necessarily needed to wait till my profit reaches $500 before withdrawal, this is my own personal choice consistent withdrawal without any issue is what I am after which is well solved by my broker, while their customer care service is topnotched.