Bitpanda Broker app
- MiCA-authorised by FMA (Austria)
- Passported to 30 EEA countries
- Authorised 9 April 2025
eToro Broker app
- MiCA-authorised by CySEC (Cyprus)
- Passported to 30 EEA countries
- Authorised 16 January 2025
SwissBorg Broker app
- MiCA-authorised by AMF (France)
- Passported to 30 EEA countries
- Authorised 5 March 2026
Revolut Broker app
- MiCA-authorised by CySEC (Cyprus)
- Passported to 29 EEA countries
- Authorised 20 October 2025
Blockchain.com Broker app
- MiCA-authorised by MFSA (Malta)
- Passported to 30 EEA countries
- Authorised 22 October 2025
Trade Republic Broker app
- MiCA-authorised by BaFin (Germany)
- Passported to 30 EEA countries
- Authorised 28 April 2025
Coinmotion Broker app
- MiCA-authorised by FIN-FSA (Finland)
- Passported to 2 EEA countries
- Authorised 2 July 2025
Robinhood Broker app
- MiCA-authorised by LSC (Lithuania)
- Passported to 30 EEA countries
- Authorised 29 May 2025
Northcrypto Broker app
- MiCA-authorised by FIN-FSA (Finland)
- Passported to 3 EEA countries
- Authorised 25 November 2025
Crypto-assets are high-risk and you can lose all the money you invest. Exchanges are ranked by the Reliability Score, and partners get no boost. Fees and terms change, so the exchange's own terms apply. Links marked as partner links are affiliate links. Crypto risks explained
Crypto brokers vs exchanges: the core difference
| Exchange | Broker app | |
|---|---|---|
| Who you trade with | Other users, through an order book | The broker, or a venue it routes to |
| Price | Market price | A quoted price, often with a spread |
| Fee | Visible maker or taker fee | A fee, a spread or both |
| Ease of use | More screens and order types | A simple buy button |
| Crypto withdrawals | Usually available | Varies by app |
In MiCA's terms, an exchange typically operates a trading platform, while a broker exchanges crypto for funds, executes orders or passes them on.
What crypto brokers publish about costs
| Broker | Published crypto cost |
|---|---|
| eToro | 1% per position on crypto trades for standard tiers |
| Coinmotion | Starting trading fee of 2% |
| Northcrypto | 2–3% for Quickbuy and Autopilot; 1.0% advanced trading at the first volume tier |
From the providers' own fee pages, checked 24 October 2026; other costs such as conversion fees may apply.
The spread calculator compares a broker's cost with an exchange's fee in euros.
Can you withdraw coins from crypto brokers?
This is the most important question about any broker app, because without crypto withdrawals you can only sell inside the app.
| Exchange | Type | Crypto withdrawals | Recurring buy | Staking |
|---|---|---|---|---|
| Bitpanda | Broker app | – | – | – |
| eToro | Broker app | Yes | – | – |
| SwissBorg | Broker app | Yes | Yes | – |
| Revolut | Broker app | Yes | – | – |
| Blockchain.com | Broker app | – | – | – |
| Trade Republic | Broker app | Yes | – | Yes |
| Coinmotion | Broker app | Yes | Yes | Yes |
| Robinhood | Broker app | Yes | – | Yes |
| Northcrypto | Broker app | Yes | Yes | Yes |
Features verified on each provider's own website. A dash means not yet verified.
Some brokers charge for moving coins out; eToro's fee page, for example, lists a fee for transfers from its platform to an external wallet.
When crypto brokers make sense
- Small, occasional purchases where convenience matters more than a small cost difference.
- People who want crypto next to their other investments in one app.
- Simple recurring purchases, if the fee per purchase is acceptable.
When an exchange is usually better than crypto brokers
- Larger or frequent purchases, where spreads add up.
- When you want to move coins to your own wallet.
- When you want to use limit orders and lower maker fees.
Crypto brokers vs exchanges: a cost example
Example: €2,400 invested over a year in monthly purchases, then sold.
| Route (example) | Buying cost | Selling cost | Total |
|---|---|---|---|
| Broker app, 1.5% spread each way | €36 | About €36 | About €72 |
| Broker app, 1% fee each way | €24 | About €24 | About €48 |
| Exchange, 0.4% fee each way | €9.60 | About €9.60 | About €19 |
Illustrative; selling costs assume an unchanged price.
Crypto brokers vs exchanges: who you are dealing with
Under MiCA, a broker app may exchange crypto for funds itself, or execute or pass on your orders to another venue.
The services listed in the ESMA register show which of these the provider is authorised for, and the licence checker displays them.
Some banking and investing apps provide crypto through a partner, so check which entity holds your crypto and which is named in the terms.
Crypto brokers vs exchanges: custody and withdrawals
With some broker apps, you own a claim on crypto held by the provider but cannot move it out; with others, you can withdraw to your own wallet.
More flexibility
You can move to self-custody or another provider without selling.
Locked to the app
To leave, you must sell, which may have tax and cost consequences.
Withdrawal is verified for several listed providers in the table above; where it is shown as a dash, it has not yet been confirmed.
Crypto brokers vs exchanges: which suits which buyer
| Buyer | Often suits |
|---|---|
| Wants one app for all money matters | Broker app |
| Buys small amounts occasionally | Either; broker if convenience matters most |
| Buys every month for years | Exchange, for lower costs |
| Wants own wallet | Exchange, or a broker that allows withdrawals |
Crypto brokers vs exchanges: switching later
If you start with a broker app and later want an exchange, moving coins directly is cheapest where withdrawals are allowed.
If they are not, selling in the app and buying again on an exchange costs fees on both sides and may create a taxable event.
Crypto brokers vs exchanges: questions to ask before choosing
- Can I withdraw coins to my own wallet, or only sell them back?
- Is the cost a visible fee, a spread, or both?
- Which legal entity holds my coins, and is it MiCA-authorised for custody?
- Can I transfer coins in from elsewhere?
- How are crypto holdings shown in tax reports?
The answers decide whether a broker's convenience is worth its limits for you.
Crypto brokers vs exchanges: a mixed approach
Some people use a broker app they already know for small, occasional purchases and an exchange for larger amounts or withdrawals to their own wallet.
Each extra account adds another login to protect and another set of records to keep, so keep the number of accounts small.
Crypto brokers vs exchanges: questions readers ask
Is a broker safer because it is a well-known brand? Safety depends on authorisation, custody arrangements and your own account security, not on brand recognition.
Why does my broker's price differ from an exchange's price? Broker prices often include a spread, which the crypto spread calculator helps estimate.
Can I move from a broker to an exchange later? If the broker allows crypto withdrawals, you can transfer coins; otherwise you must sell and buy again, which can create costs and taxes.
Checking these points before your first purchase saves you from moving accounts later, which can involve selling, fees and possibly taxes.
Read the broker's terms first.
The terms decide what you can do with your coins.
Frequently asked questions
What is the difference between crypto brokers and exchanges?
On an exchange you trade with other users at market prices and pay a visible fee. A broker quotes you a price, and its cost can be in a fee, a spread or both.
Are crypto brokers more expensive than exchanges?
Often, for regular buyers, because spreads and simple-buy fees are higher than exchange maker or taker fees. Compare with the spread calculator.
Can I withdraw crypto from a broker app?
It depends on the app. Check before buying, because without withdrawals you can only sell inside the app.
Are crypto brokers regulated under MiCA?
Brokers that provide crypto-asset services in the EU need a MiCA authorisation, unless they are certain financial entities providing services under MiCA's notification route.
Is buying crypto in my banking app safe?
Check that the crypto service is provided by an authorised entity, read the costs and whether you can withdraw coins, and remember that crypto prices are high-risk.
Sources
- eToro fees
- Northcrypto fees
- Coinmotion pricing (Finnish)
- Regulation (EU) 2023/1114 (MiCA), Articles 3(1)(16) and 60
Every figure on this page is checked against the ESMA register, the exchange's own terms and fee pages or another primary source, and the sources are listed above. Editorial policy · How we rate