Quick take
- Crypto trades 24/7 across hundreds of venues; stocks trade on a few exchanges during set hours; forex runs 24 hours on weekdays.
- In stocks, your broker usually holds shares for you in a regulated structure; on a crypto exchange you rely on the exchange's own wallets.
- Leverage limits and investor protections are much stricter in regulated forex and stock markets.
One asset, many prices
If you have traded crypto, you are used to Bitcoin having a slightly different price on every exchange. That is because crypto trading is fragmented across hundreds of independent venues. Stock markets work differently: a share of a US company trades mainly on a handful of regulated exchanges linked by rules that push orders to the best available price. Forex is somewhere in between, a network of banks and dealers quoting prices to each other with no single central exchange.
Opening hours
Crypto never closes. Stock exchanges open for a set session on weekdays and shut at weekends and on public holidays. The forex market runs around the clock from Sunday evening to Friday evening New York time, passing from Asian to European to American trading centres. Our live market board shows which are open right now.
Why it matters: news that breaks on a Saturday hits crypto instantly, but stocks and forex only react when they reopen, which can cause a sudden jump, known as a gap.
Who holds your assets
| Crypto exchange | Stock broker | Forex / CFD provider | |
|---|---|---|---|
| What you own | A claim on the exchange, or coins in your own wallet | Shares held for you in a nominee account | A contract with the provider |
| If the firm fails | Often no compensation scheme | Client assets are ring-fenced; some countries add compensation | Client money segregation; limited compensation in some countries |
| Self-custody possible? | Yes | Not usually | No |
Leverage
Crypto platforms outside strict jurisdictions have offered leverage of 100 times or more. In the UK and EU, retail clients are limited to 2:1 on crypto CFDs, 30:1 on major currency pairs and 5:1 on individual shares. Those caps exist because high leverage turns small moves into account-ending losses. See the margin calculator.
Regulation and settlement
Stock and forex brokers in major markets must be licensed, keep client money separate and report to regulators. Crypto rules are catching up, with licensing regimes such as the EU's MiCA, but protections still vary widely by country. Settlement also differs: a crypto transfer settles on the blockchain in minutes, while a US share trade settles one business day after the trade.
Where to go next
- How forex trading works, explained for crypto traders
- How the stock market works
- Crypto for beginners
Common questions
Why does Bitcoin have different prices on different exchanges?
Each exchange has its own order book and its own buyers and sellers. Traders who buy on one venue and sell on another keep prices close, but small differences remain, especially in fast markets.
Are stock markets safer than crypto markets?
They are more heavily regulated, with stronger rules on custody, disclosure and trading. That reduces some risks, such as a platform losing customer assets, but share prices can still fall sharply.