Comparing Cryptocurrency Brokers Australia
It is important to compare Australian crypto brokers in order to find the best online broker. Although many services that are offered by different brokers may seem similar in nature and scale, there are certain factors that set the top 5 cryptocurrency brokers apart from the rest.
Our latest crypto broker comparison uses objective testing and analysis in order to fairly compare and contrast these platforms. Our uniform approach will provide you with a measuring stick in which to choose the best Australian crypto brokers. We have found that our coverage is useful to all types of crypto traders.
If you are a newcomer to the scene, then this comparison tool and crypto guide is certainly worth your while. You’ll gain the insight needed to make an informed decision as to which broker will provide the best possible crypto trading services. We also bring you the best online brokers for beginners if this is something you feel might help you.
If you are a trader who has traded with conventional asset classes and investment instruments, the online crypto trading world might still be slightly foreign to you. As such, our coverage of the best cryptocurrency broker Australia will enlighten you as to how you should go about trading crypto online. Our team has also crafted a cryptocurrency trading Australia guide for this exact purpose.
Looking to trade crypto? Our top pick platforms:
Ensuring A Transparent Online Cryptocurrency Trading Experience
When we assess the viability of any online broker, be it for social trading Australia or crypto trading, there are certain factors that each broker must possess. Without these characteristics, it becomes unclear as to whether the online trader in question will provide a safe and transparent online trading experience.
It is the first step to finding out who are the best crypto brokers Australia. If you find yourself assessing online traders on your own, use these steps to ensure that you exclude any brokers that do not meet the criteria set out below.
Commitment to transparent trading practices
If you are looking to make use of an online broker, you must ensure that the relevant broker adheres to all financial trading regulations and by-laws. One way to ensure this is to find out if the online broker is authorised and licensed to provide financial services as well as any advice that pertains to trading. There are certain platforms that are not regulated and do not need to adhere to the same operating standards.
In our cryptocurrency brokers Australia comparison, we outline exactly which brokers are regulated. If the online broker is regulated by the Australian Securities and Investments Commission (ASIC), then you can be certain that all practices and subsequent services are above board. The best online stock broker is certainly commissioned to provide financial services to the general public.
Customer support and satisfaction
Without key fundamental areas of expertise in place, an online platform will not function efficiently. One of these key areas of concern has to do with customer support. Any online business should have a support system in place which is capable of dealing with customer issues and queries.
You will not always have the option of dealing with a representative face to face. As such, there needs to be a sufficient number of customer options available so that you can resolve any problems you might encounter. This is even more prudent when you are trading your own money on an online platform. Find out more about this in our broker review at Wetten.com
Our favourite Forex trade platforms:
Highly-secure online trading platform
In any platform that deals with millions of dollars on a daily basis must have the necessary security protocols in place. A platform that is not secure can be hacked at a moment’s notice. This puts your financial funds at risk. Thus, our online brokers comparison will test the security measures of each platform and highlight which brokers provide you with a trading platform that is secure and committed to ensuring your safety.
Selection of reputable payment solutions
You will need to fund a trading account if you wish to make trades. Funding your account will need to be done by using an external account which is in your name. However, the best crypto broker in 2021 will provide you with multiple funding options.
You should not be too limited in your choice. Certain individuals prefer making deposits and withdrawals via bank transfer while others might prefer to use an accredited e-wallet. Either way, the facilitation of payments across platforms must be secure and efficient. You’ll find that the best cryptocurrency brokers Australia provide you with instant deposit methods and fast withdrawals – all of which is done in a safe and reliable manner.
Versatile and functional trading platform
Ultimately, you’ll want access to a platform that runs seamlessly. When you are making trades within a fast-paced environment, optimal platform functionality is imperative. Thus, if you are looking into day trading Australia or using a crypto broker Australia, it’s all the same.
The actual trading platform must have the necessary tools and capabilities to run market data streams and perform trades on a continuous basis. Without these capabilities, you’ll be left ruing missed opportunities – or worse yet, you might execute trades too soon or late, or based on incorrect information. At Wetten.com, we strive to bring you trading platforms such as the best cryptocurrency broker Australia where these issues do not crop up.
Is Cryptocurrency Trading Legal?
Many individuals feel that trading crypto via a cryptocurrency broker Australia is not fully legal. However, this is not true. Many traditional financial institutions have adopted cryptocurrencies and more importantly, are starting to use the operational system that crypto runs on – blockchain.
It is a highly-adaptable and useful technology which has a lot of upside to it. In terms of trading crypto, you’ll find that the top crypto brokers Australia are licensed to offer crypto trading options.
As long as you use a transparent online broker that explicitly advertises crypto trading, you are doing so within the financial framework set out by Australian authorities. What’s more, you are able to remain far more anonymous when trading crypto – especially if you buy and sell crypto using an independent crypto wallet.
Looking to trade stocks? Check out our top choice platforms here:
When it comes down to actually trading cryptocurrency, the top cryptocurrency brokers Australia will offer one of two options for the most part. Our crypto broker review delves into these two options of trading crypto via an online platform. At Wetten.com, we also bring you useful guides on the best options broker Australia and how to go about social trading Australia.
Many online trading platforms will allow you to trade crypto CFDs instead of actually buying and selling the underlying asset. Thus, you are speculating on the price movement of the relevant crypto coin. If you were looking to actually buy and sell crypto, the process is slightly more complex.
Although, once you have the necessary tools in place, you’ll find that it is rather easy to do. Certain online traders, more so exchanges, will provide you with a platform whereby you can directly trade crypto.
You’ll need to sign up and get an external crypto wallet where you can store your coins. This is the safest way to protect your cryptocurrency holdings. Once you have done this, you’ll be able to trade crypto coins such as Bitcoin, Ethereum, Litecoin, and Ripple. The best crypto broker Australia will include a range of different digital coins, from popular ones outlined above to more obscure coins.
The Top Cryptocurrency Brokers
When you’re looking for the top 5 cryptocurrency brokers in Australia, or simply the best broker, our team of crypto experts have assessed each broker in full. This has allowed us to sum up which online trading platforms are best for crypto trading.
Our latest coverage of eToro will highlight just how good this online broker is for crypto trading. You’ll find a range of different coins on offer with decent spreads on CFD crypto trading options. eToro is an easy online platform to use and is very accessible. If you are looking for a wide selection of crypto coins, then eToro is the best bet.
Plus500 has an intuitive trading platform and provides you with the option of trading a handful of cryptocurrencies. Plus500 has a range of no commission trading options and tight spreads. You can also leverage up to 1:3000 all the while using a quick execution platform. You can trade 24/7 and all crypto trades are contracts for difference (CFDs).
You’ll find really competitive spreads on Bitcoin with Pepperstone. Plus, you can enjoy weekend trading in Bitcoin, Bitcoin Cash, and Ethereum. You’ll also have access to a number of crypto index derivative products – such as the Crypto 10, Crypto 20, and Crypto 30.
With IG markets, you can take a position on 8 different major cryptocurrencies. You’ll also have the option of getting broad exposure by way of the Crypto 10 Index – allowing you to reduce your risk and increase your crypto portfolio’s diversity. You won’t require a wallet and you’ll have access to a deep liquidity pool.
CMC Markets focuses on providing an outstanding crypto trading experience in the form of CFD options. This online broker has great attention to detail and continues to receive praise from all customers. You’ll have access to a number of popular coins and a platform that is highly functional.
Our top picks for trading options:
Tips For Successful Crypto Trading
Below, we’ve provided you with a number of tips that will improve your crypto trading experience:
Choose a crypto wallet
For starters, you’ll need to choose a crypto wallet. This wallet is an external digital wallet that is used to store your crypto coins. Choosing a secure wallet is paramount to safekeeping your holdings and ensuring a safe passage of funds. Certain crypto brokers have their own digital wallet which is convenient.
However, there are those traditional brokers that require you to set up an external wallet. You can make use of a “hot wallet” or a “cold wallet”. The former is connected to the internet and is more prone to being hacked. However, if you only wish to store a small amount, then this is best. Otherwise, “cold wallets” store your funds offline making it more secure and less accessible.
Research the crypto market
Research is key to any online trading endeavour. We urge you to take your time when looking into the crypto markets and make sure you understand what the current climate looks like. As there are a range of coins, not all will experience the same fortunes at any given period. Also, traditional practices used to research conventional markets do not always apply when you are assessing a market for crypto. What you can do though is use technical analysis by reading charts and analysing movements so as to identify trends that can be applied to your strategy.
Always start small
This goes for all investments. Start by buying a small amount of the crypto coin you are interested in. You needn’t invest thousands of dollars straight away. This will allow you to find your feet. Crypto markets are volatile and, although you can make short-term gains, it’s advisable that you spend some time keeping your crypto holding and better understanding the market.
Finding The Best Crypto Broker Australia For You
Our crypto broker review outlines a number of top brokers that you can make use of. All of these online brokers are established in the online trading industry and will provide reliable services. However, you’ll want to sign up with an online trading platform that is best for you.
What suits one person might not suit the next. Thus, we urge you to take into account the most important factors that you deem as being mandatory for any online trading platform. Once you have outlined these pointers, you can find the best cryptocurrency broker Australia that meets your personal criteria. There are a number of different factors that can be taken into account. However, below we’ve outlined certain points that we’d consider. These types of tips can be used when you are looking into a forex broker in Australia or a CFD broker Australia.
Our favourite brokers for CFD trading:
This is extremely important as you can trade cryptocurrencies over the weekend. The markets for online crypto trading do not sleep. As such, you’ll want to find a crypto broker that is on standby for all, or most, of the week. This means there should be support around the clock if possible.
Many traditional online brokerage firms will have customer support during business hours, up until Saturday. For crypto trading platforms, it’s important that the window of customer support is extended.
Diverse selection of crypto coins
Our crypto broker review found that certain online platforms are quick to advertise online crypto trading, and although they are not falsely advertising, it is apparent that many online provide Bitcoin trading options. This might extend to other established crypto coins but the fact remains that many online brokers have limited crypto options. If you want to dabble in trading a range of digital coins, then you need to ensure that you sign up with an online broker that has the necessary selection on hand.
Ability to find your account using your crypto wallet
If you plan on trading cryptocurrencies, you’ll most likely want to fund your account using your coins. This might change but having the option to do so is important. Thus, find an online broker that facilities payments from a number of different crypto coins such as Bitcoin, Litecoin, and so on. You should be able to link your account to your digital wallet and transfer coins to and from your trading account and your wallet.
Conclusion – On the search for the best crypto broker in Australia
We hope that you found our guide to the best cryptocurrency broker Australia to be helpful. In our crypto broker review, we set out to enlighten you on how best to go about engaging with a crypto broker Australia as well as what to look out for when trading cryptocurrency.
Now that you are more informed as to what is needed to embark on online crypto trading activities, we wish you much success. Keep in mind that cryptocurrencies can be volatile and you should start small. This will give you a better insight into how different coins are performing and how they react to market changes.
If you wish to find out more about ETF trading Australia and futures trading Australia, our guides have you covered. Our team at Wetten.com have also compiled an overview of online brokers Australia, giving you the inside scoop of the current online trading environment in Australia.
Our favourite crypto platforms:
Cryptocurrency Broker Australia FAQ
👀Are there crypto brokers in Australia?
Crypto trading has become immensely popular over the last decade. With improvements in the underlying systems that facilitate cryptocurrencies, demand for crypto continues to rise. As such, many online brokers have moved to include cryptocurrency trading options on their platforms.
At Wetten.com, we strive to bring you coverage of all the best cryptocurrency brokers in Australia. We hope that you find our resources helpful when analysing the best online crypto brokers.
👌Are cryptocurrency brokers Australia legal?
Cryptocurrency has been met with a lot of enthusiasm. However, traditional institutions were sceptical about alternatives to fiat currency – where some still retain this sentiment today. But, trading crypto is legal within the correct framework. It is important to make use of a reliable crypto broker that is licensed to provide crypto trading services.
This will enable you to embark in crypto trading in the best possible online environment. To find out which brokers are authorised to offer online crypto trading, head over to our broker comparison at Wetten.com.
📊What are the requirements when joining a cryptocurrency broker Australia?
In order to start trading crypto online, you’ll need to sign up with an online stocks broker. Nowadays, this is simple to do. The registration process will be quick and you can create a valid trading account in no time at all. If you wish to actually purchase crypto, you might need a digital wallet.
However, many online brokers provide CFD trading in crypto and this can be done without any external accounts. To find out more, head over to our coverage of crypto brokers in Australia right here at Wetten.com.
🔔Who are the top 5 cryptocurrency brokers?
As you’ll come to find out in our coverage of the cryptocurrency brokers Australia, there are a number of exciting options to be had. More and more online brokers are expanding their trading options to include cryptocurrencies. However, you’ll be eager to sign up with one of the top 5 cryptocurrency brokers in Australia so as to ensure a great online trading experience.
To find out who tops the list, head over to Wetten.com and make use of our crypto comparison and list of the top 5 brokers.
🔐Are crypto brokers Australia secure?
The best cryptocurrency brokers in Australia provide you with a safe and reliable platform from which you can enjoy cryptocurrency trading. However, it is vital to make use of those online brokers that have a good reputation. In our extensive coverage of online crypto brokers, we’ll take you through the ins-and-outs of online trading platforms and provide you with valuable insight into each broker. This will allow you to make use of a secure trading platform that protects your funds and any relevant crypto holdings.