Best Crypto OTC Trading Platform Review 2023 – Digital Crypto Era

Are you looking to buy large volumes of bitcoin, you might consider engaging an OTC bitcoin broker to avoid moving the market by placing your orders in exchanges. In this guide, we will explain what OTC bitcoin brokers are and list reputable bitcoin brokers you can use.

Who Are OTC Bitcoin Brokers?

OTC (over-the-counter) bitcoin brokers facilitate large bitcoin transactions between trading counterparties in a direct and private manner. Purchasing large amounts of bitcoin needs a different approach than regular trading on crypto exchanges. The traditional ways of buying bitcoin through exchanges aren’t suitable for high-volume purchases due to the relatively low liquidity on Bitcoin exchanges and the potential for price slippage. OTC bitcoin brokers provide more discrete and secure channels for high-net-worth individuals, professional traders, and institutional investors to buy and sell large quantities of bitcoin (BTC) at the best possible price. These brokers protect their customers from negatively impacting their execution price due to price slippage, which would likely be the case if they traded on a crypto exchange.

Top 5 Most OTC Trading Platform

Now that you know what over-the-counter bitcoin brokers are, let’s go over some of the more popular bitcoin brokers in the space. 

Bitcoin Reserve

Bitcoin Reserve is an Estonian-based over-the-counter (OTC) trading service that allows you to purchase bitcoin (BTC) or bitcoin-related assets worth over 10,000 USD OR EUR. The bitcoin trading service was founded in 2018 by a team of global brokerage experts to offer a personalized OTC trading experience to bitcoin enthusiasts.

To start trading with Bitcoin Reserve, you have to register for an account. Signing up for an individual account takes up to 5 minutes. Signing up for a corporate account can take up to 48 hours. During the registration, you will have to provide an ID document like a passport, a driver’s license, or a permanent residence card.

sFOX

sFOX is a San Francisco-based crypto prime dealer for institutional investors that provides the liquidity and the infrastructure needed to execute large trades. Founded in 2014, sFOX was created to integrate the crypto ecosystem through a single point of access, thereby making it more efficient and aggregating liquidity from various sources. The platform was developed internally as a scalable solution for institutional crypto trading. 

You have to create an account to start trading with sFox. Similar to other crypto OTC brokers, you can choose between an individual or business account. Provide the necessary details, and once the account is verified, you can access the OTC desk.

Cumberland

Cumberland is a Chicago-based crypto company that offers OTC bitcoin trading to investors and institutions to capitalize on new ventures. Launched in 2014 as a  subsidiary of DRW, a decades-old diversified trading firm, Cumberland offers a unique trading experience with 24/7 access to customer agents. Moreover, Cumberland lets counterparties access its electronic suite, which provides real-time, streaming, and two-way pricing, as well as its API. 

To start trading with Cumberland, you have to undergo an onboarding process. Both individual and institutional onboarding processes will require you to provide personal information, KYC documents, payment information, and more. Once the process is complete, Cumberland will review the details and, if satisfied, set up your trading account.

Jump Trading

Jump Trading is a Chicago-based proprietary trading firm that acts as an institutional brokerage. Founded in 1999, the company remains on the cutting edge of algorithmic trading to drive its research and quantitative trading approach. In 2018 the company developed an electronic crypto trading platform known as Jump Liquidity. Jump Liquidity allows Jump Trading to offer improved access to liquidity on a customizable basis to its counterparties. 

Jump Trading offers top-grade computational capabilities that guide data analysis of OTC crypto trades. Jump acts as a principal trading partner working with several counterparties through its electronic trading platform or its super streaming API. Crypto Jump, a division at Jump Trading, in providing liquidity and technical expertise to nascent crypto projects and platforms.

FalconX

FalconX is a Malta-based OTC trading service that relies on data science to offer the best trade execution for clients. Founded in 2018, the company acts as a crypto broker and digital asset trading platform. The platform is designed for institutional investors such as hedge funds, payment providers, crypto miners, proprietary traders, and more. FalconX has a diverse team with finance and tech backgrounds and has offices in the US and Asia.

FalconX offers efficient trade execution for OTC transactions through its platform. Clients can enjoy almost 100% uptime and the most extensive aggregated liquidity. FalconX electronic system can be configured to trade multiple crypto pairs. The crypto broker also offers credit and treasury management, market making, and other services.

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