By Jeffrey Cammack Author Information Updated: June 30, 2020

Though there are many Forex and CFD brokers, not all of them offer cryptocurrency trading. To save you the effort, we have put together a list of our favourite cryptocurrency brokers. There is no definitive list of the best cryptocurrency brokers. Some brokers offer great trading conditions but poor analysis and education. Others may offer huge amounts of information for beginners but have wider spreads. 

That said, all the cryptocurrency brokers listed below will be secure and well-regulated and you can always read our full review for more information.

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  • Broker
    FP Markets

    FP Markets  - Best Cryptocurrency CFD Broker

    REGULATED BY
    ASIC ASIC
    CySEC CySEC
    Trading Desk Type
    Minimum Deposit
    AUD 100
    Trading Conditions
    11110.5
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    • Paypal
    • Skrill
    • Neteller
    • Fasapay
    • BPay
    • paytrust88
    • POLi
    Account Spread From Commission Execution Min. Deposit
    Standard IRESS N/A pips $10 AUD min, then 0.1% STP AUD 1,000 Account Details
    Platinum IRESS N/A pips $9 AUD min, then 0.09% STP AUD 25,000 Account Details
    Premier IRESS N/A pips No min, then 0.08% STP AUD 50,000 Account Details
    RAW 0.0 pips $3.50 STP AUD 100 Account Details
    Standard 1.0 pips None STP AUD 100 Account Details
  • Broker
    eToro

    eToro  - Most Trusted Broker

    REGULATED BY
    CySEC CySEC
    FCA FCA
    ASIC ASIC
    Trading Desk Type
    Minimum Deposit
    AUD 50
    Trading Conditions
    11000
    Trading Platforms
    • etoro
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    Deposit Methods
    • Bank Transfer
    • Skrill
    • Paypal
    Account Spread From Commission Execution Min. Deposit
    Professional 1.0 pips None Market EUR 200 Account Details
    Standard 1.0 pips None Market USD 200 Account Details
  • Broker
    IC Markets

    IC Markets  - Best Overall Broker

    REGULATED BY
    CySEC CySEC
    ASIC ASIC
    Trading Desk Type
    Minimum Deposit
    AUD 200
    Trading Conditions
    11110.5
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • Bonds
    • Futures
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • Paypal
    • Unionpay
    Account Spread From Commission Execution Min. Deposit
    RAW - cTrader 0.0 pips $3.00 Market USD 200 Account Details
    RAW - MetaTrader 0.0 pips $3.50 Market USD 200 Account Details
    Standard - MetaTrader 1.0 pips None Market USD 200 Account Details
  • Broker
    easyMarkets

    easyMarkets  - Most Forex Pairs Available

    REGULATED BY
    CySEC CySEC
    ASIC ASIC
    Trading Desk Type
    Minimum Deposit
    AUD 100
    Trading Conditions
    11110.5
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • Metals
    • Vanilla Options
    Deposit Methods
    • Bank Transfer
    • Sofort Banking
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Astropay
    Account Spread From Commission Execution Min. Deposit
    Islamic 1.9 pips None Instant USD 100 Account Details
    Standard 1.9 pips None Instant USD 100 Account Details
    Premium 1.4 pips None Instant USD 2000 Account Details
    VIP 0.9 pips None Instant USD 10000 Account Details
    Super VIP 1.2 pips None Instant USD 50000 Account Details
  • Broker
    Admiral Markets

    Admiral Markets  - Best Range of Trading Platforms

    REGULATED BY
    ASIC ASIC
    CySEC CySEC
    FCA FCA
    Trading Desk Type
    Minimum Deposit
    AUD 100
    Trading Conditions
    11110
    Trading Platforms
    Trading Instruments
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Bonds
    • WTIs
    Deposit Methods
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • POLi
    • Bitcoin
    • Bank Transfer
    Account Spread From Commission Execution Min. Deposit
    Trade.MT4 0.5 pips None Market USD 100 Account Details
    Trade.MT5 0.5 pips None Market USD 100 Account Details
    Zero.MT4 0.0 pips $1.8-$3.0 Market USD 100 Account Details
    Zero.MT5 0.0 pips $1.8-$3.0 Market USD 100 Account Details
  • Broker
    AvaTrade

    AvaTrade  - Best Trading Conditions

    REGULATED BY
    ASIC ASIC
    FSCA FSCA
    B.V.I FSC B.V.I FSC
    FSA FSA
    Trading Desk Type
    Minimum Deposit
    AUD 100
    Trading Conditions
    11111
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • ETFs
    Deposit Methods
    • POLi
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • Paypal
    • Bank Transfer
    Account Spread From Commission Execution Min. Deposit
    Islamic 1.2 pips None Instant USD 100 Account Details
    Professional 0.9 pips None Instant USD 100 Account Details
    Retail 0.9 pips None Instant USD 100 Account Details
  • REGULATED BY
    ASIC ASIC
    FCA FCA
    MAS MAS
    FMA FMA
    Trading Desk Type
    Minimum Deposit
    AUD 5
    Trading Conditions
    11111
    Trading Platforms
    Trading Instruments
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Bonds
    • WTIs
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    • Paypal
    • BPay
    • POLi
    Account Spread From Commission Execution Min. Deposit
    CFD Account 0.7 pips None Instant USD 5 Account Details
  • Broker
    REGULATED BY
    CySEC CySEC
    ASIC ASIC
    IFSC IFSC
    Trading Desk Type
    Minimum Deposit
    AUD 5
    Trading Conditions
    11110.5
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Energies
    Deposit Methods
    • Bank Transfer
    • Sofort Banking
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Bitcoin
    • Unionpay
    Account Spread From Commission Execution Min. Deposit
    Micro 1.0 pips None Instant USD 5 Account Details
    Standard 1.0 pips None Instant USD 5 Account Details
    XM Ultra Low 0.6 pips None Instant USD 50 Account Details
    XM Zero 0.6 pips $7.00 Instant USD 100 Account Details
  • Broker
    REGULATED BY
    CySEC CySEC
    ASIC ASIC
    FSCA FSCA
    Trading Desk Type
    Minimum Deposit
    AUD 250
    Trading Conditions
    11110.5
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Metals
    • Equities
    • Energies
    • ETFs
    • Bonds
    • Blends
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Paypal
    Account Spread From Commission Execution Min. Deposit
    Live 0.9 pips None Instant USD 100 Account Details
  • REGULATED BY
    FCA FCA
    ASIC ASIC
    MAS MAS
    Trading Desk Type
    Minimum Deposit
    AUD 50
    Trading Conditions
    11111
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Bonds
    • Interest Rates
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    Account Spread From Commission Execution Min. Deposit
    Standard 0.5 pips None Instant USD 200 Account Details
    Premium 0.5 pips None Instant USD 10000 Account Details
    Professional 0.5 pips None Instant USD 500000+ Account Details
  • Broker
    REGULATED BY
    CySEC CySEC
    FCA FCA
    ASIC ASIC
    FSCA FSCA
    Trading Desk Type
    Minimum Deposit
    USD 100
    Trading Conditions
    11110.5
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • Futures
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Unionpay
    • Fasapay
    Account Spread From Commission Execution Min. Deposit
    Live Fixed Spread 2.2 pips None Instant USD 100 Account Details
    Live Floating Spread 1.1 pips None Instant USD 100 Account Details
    Live Zero Spread 0.0 pips $18 Instant USD 500 Account Details
    STP/ECN No Commission 1.7 pips None ECN/STP USD 500 Account Details
    STP/ECN Zero Spread 0.0 pips $7.50 ECN/STP USD 500 Account Details
  • Broker
    REGULATED BY
    CySEC CySEC
    Trading Desk Type
    Minimum Deposit
    USD 50
    Trading Conditions
    11110
    Trading Platforms
    Trading Instruments
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    Deposit Methods
    • Visa
    • Skrill
    • Neteller
    • Bitcoin
    • Fasapay
    • Bank Transfer
    Account Spread From Commission Execution Min. Deposit
    cTrader ECN 0.0 pips $3.00 Market USD 100 Account Details
    MT4 Micro 0.4 pips None Market USD 100 Account Details
    MT5 Pro 0.2 pips None Market USD 500 Account Details
  • REGULATED BY
    CySEC CySEC
    FSCA FSCA
    Trading Desk Type
    Minimum Deposit
    USD 100
    Trading Conditions
    1110.50
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • ETFs
    • Bonds
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    Account Spread From Commission Execution Min. Deposit
    Micro 3.0 pips None Market USD 100 Account Details
    Silver 1.9 pips None Market USD 1000 Account Details
    Gold 1.5 pips None Market USD 10000 Account Details
    Platinum 1.2 pips None Market USD 50000 Account Details
    Exclusive 1.0 pips None Market USD 100000 Account Details
  • Broker
    REGULATED BY
    CySEC CySEC
    FCA FCA
    FSA-Seychelles FSA-Seychelles
    Trading Desk Type
    Minimum Deposit
    USD 100
    Trading Conditions
    11111
    Trading Platforms
    Trading Instruments
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Bonds
    • WTIs
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • SticPay
    • Unionpay
    • Fasapay
    Account Spread From Commission Execution Min. Deposit
    Classic 1.6 pips None Market USD 100 Account Details
    Pro 0.0 pips Variable Market USD 100 Account Details
    VIP 0.0 pips Variable Market USD 50000 Account Details
  • REGULATED BY
    FCA FCA
    Trading Desk Type
    Minimum Deposit
    USD 1000
    Trading Conditions
    11110
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Equities
    • Bonds
    • Futures
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    • Unionpay
    Account Spread From Commission Execution Min. Deposit
    Professional Custom pips None Instant Volume Based Account Details
    Standard 1.7 pips None Instant USD 1000 Account Details
    Premium 1.4 pips None Instant USD 10000 Account Details
    Prime 1.1 pips None Instant USD 50000 Account Details
  • REGULATED BY
    FCA FCA
    ASIC ASIC
    FSCA FSCA
    Trading Desk Type
    Minimum Deposit
    USD 250
    Trading Conditions
    11110.5
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Equities
    • Bonds
    • Interest Rates
    • Digital 100s
    • IPOs
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    • Paypal
    Account Spread From Commission Execution Min. Deposit
    Live Account 0.6 pips None Instant USD 250 Account Details
    Spread Betting 0.6 pips None Instant USD 250 Account Details
  • Broker
    REGULATED BY
    CySEC CySEC
    FCA FCA
    DFSA DFSA
    Trading Desk Type
    Minimum Deposit
    USD 100
    Trading Conditions
    1110.50
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • Futures
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • WebMoney
    Account Spread From Commission Execution Min. Deposit
    Classic 1.2 pips None Instant USD 100 Account Details
    Fixed 1.8 pips None Instant USD 100 Account Details
    Islamic Fixed 1.8 pips None Instant USD 100 Account Details
    Raw 0.2 pips $4.00 Instant USD 200 Account Details
  • Broker
    REGULATED BY
    CySEC CySEC
    FCA FCA
    FSCA FSCA
    DFSA DFSA
    FSC FSC
    Trading Desk Type
    Minimum Deposit
    USD 5
    Trading Conditions
    11110.5
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Energies
    • Bonds
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • Bitcoin
    • VLOAD
    • Unionpay
    Account Spread From Commission Execution Min. Deposit
    Micro 1.0 pips None Market USD 5 Account Details
    Islamic 1.0 pips None Market USD 100 Account Details
    Premium 1.0 pips None Market USD 100 Account Details
    Auto 1.0 pips None Market USD 200 Account Details
    Zero 0.0 pips $3.00 Market USD 200 Account Details
    HFCopy 1.0 pips None Market USD 300 Account Details
    Premium Pro 1.0 pips None Market USD 5000 Account Details
  • REGULATED BY
    FCA FCA
    B.V.I FSC B.V.I FSC
    Trading Desk Type
    Minimum Deposit
    USD 5
    Trading Conditions
    11100
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • Spread Betting
    Deposit Methods
    • Bank Transfer
    • Sofort Banking
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    Account Spread From Commission Execution Min. Deposit
    ECN Zero Account 0.0 pips $10.00 Instant USD 5 Account Details
    Standard Fixed 1.8 pips None Instant USD 5 Account Details
    Standard Variable 1.3 pips None Instant USD 5 Account Details
    VIP Variable 0.6 pips None Instant USD 5000 Account Details
  • Broker
    REGULATED BY
    CySEC CySEC
    IFSC IFSC
    Trading Desk Type
    Minimum Deposit
    USD 1
    Trading Conditions
    11110.5
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Metals
    • Equities
    Deposit Methods
    • Visa
    • Neteller
    • Unionpay
    • Skrill
    • Mastercard
    • PerfectMoney
    • Bitcoin
    • SticPay
    Account Spread From Commission Execution Min. Deposit
    Cent 1.0 pips None STP USD 1 Account Details
    Islamic 0.0 pips None STP USD 1 Account Details
    Micro 3.0 pips None STP USD 5 Account Details
    Standard 0.5 pips None STP USD 100 Account Details
    Zero Spread 0.0 pips $20 STP USD 500 Account Details
    ECN 0.0 pips $6 ECN USD 1000 Account Details
  • REGULATED BY
    FCA FCA
    Trading Desk Type
    Minimum Deposit
    GBP 100
    Trading Conditions
    11110.5
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    • ETFs
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    Account Spread From Commission Execution Min. Deposit
    Advanced Account 1.4 pips None STP USD 100 Account Details
    Copy Trading 1.4 pips None STP USD 500 Account Details
    Pro Account 1.0 pips None STP USD 5000 Account Details
  • Broker
    REGULATED BY
    CySEC CySEC
    FSC FSC
    FSA-Seychelles FSA-Seychelles
    Trading Desk Type
    Minimum Deposit
    USD 100
    Trading Conditions
    11111
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    Deposit Methods
    • Bank Transfer
    • Sofort Banking
    • Visa
    • Mastercard
    • Skrill
    Account Spread From Commission Execution Min. Deposit
    Basic 1.5 pips None Instant USD 100 Account Details
    RAW Spread 0.0 pips None Instant USD 200 Account Details
    Black 1.1 pips None Instant USD 10000 Account Details
  • REGULATED BY
    FCA FCA
    ASIC ASIC
    DFSA DFSA
    Trading Desk Type
    Minimum Deposit
    USD 5
    Trading Conditions
    11110.5
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • WTIs
    Deposit Methods
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Bank Transfer
    Account Spread From Commission Execution Min. Deposit
    MT4 Pro Account 0.1 pips $7 Market USD 5 Account Details
    MT4 Standard Account 1.0 pips None Market USD 5 Account Details
  • Broker
    REGULATED BY
    FSC FSC
    Trading Desk Type
    Minimum Deposit
    USD 5
    Trading Conditions
    11110.5
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Metals
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • WebMoney
    • Bitcoin
    • VLOAD
    Account Spread From Commission Execution Min. Deposit
    Mirco Account 1.7 pips None Instant USD 5 Account Details
    Standard Account 1.2 pips None Instant USD 100 Account Details
    ECN Account 0.4 pips $1.50 Market USD 500 Account Details
    Pro Account 0.4 pips None Market USD 25000 Account Details
  • Broker
    REGULATED BY
    IFSC IFSC
    Trading Desk Type
    Minimum Deposit
    USD 100
    Trading Conditions
    11000
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Equities
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    Account Spread From Commission Execution Min. Deposit
    Basic 2.5 pips None Market USD 250 Account Details
    Gold 2.0 pips None Market USD 5000 Account Details
    Platinum 1.4 pips None Market USD 10000 Account Details
    VIP 1.1 pips None Market USD 50000 Account Details
  • Broker
    REGULATED BY
    FCA FCA
    ASIC ASIC
    FSCA FSCA
    Trading Desk Type
    Minimum Deposit
    USD 50
    Trading Conditions
    11110
    Trading Platforms
    Trading Instruments
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • Bonds
    • WTIs
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    Account Spread From Commission Execution Min. Deposit
    Standard 1.3 pips None STP USD 50 Account Details
    Active Trader Not Published pips Yes STP USD 25000 Account Details
  • REGULATED BY
    CySEC CySEC
    FCA FCA
    DFSA DFSA
    Trading Desk Type
    Minimum Deposit
    USD 200
    Trading Conditions
    11110.5
    Trading Platforms
    Trading Instruments
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • WTIs
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • Fasapay
    Account Spread From Commission Execution Min. Deposit
    Classic 1.4 pips None Market USD 50 Account Details
  • REGULATED BY
    ASIC ASIC
    Trading Desk Type
    Minimum Deposit
    AUD 200
    Trading Conditions
    11110
    Trading Platforms
    Trading Instruments
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    • WTIs
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    • Fasapay
    • BPay
    • POLi
    Account Spread From Commission Execution Min. Deposit
    Standard 1.0 pips None Market USD 200 Account Details
    GoPlus+ 0.0 pips $3.00 Market USD 500 Account Details
  • Broker
    REGULATED BY
    CySEC CySEC
    FCA FCA
    FSCA FSCA
    FSC FSC
    Trading Desk Type
    Minimum Deposit
    AUD 10
    Trading Conditions
    1110.50
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Equities
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    • Maestro
    • Skrill
    • Neteller
    • Bitcoin
    • Unionpay
    Account Spread From Commission Execution Min. Deposit
    Cent Account 1.5 pips None Instant USD 10 Account Details
    Standard Account 1.3 pips None Instant USD 100 Account Details
    ECN Zero Account 1.5 pips None Market USD 200 Account Details
    ECN Account 0.1 pips $2.00 Market USD 500 Account Details
    FXTM Pro Account 0.0 pips None Market USD 25000 Account Details
  • Broker
    REGULATED BY
    CySEC CySEC
    FCA FCA
    FSC FSC
    Trading Desk Type
    Minimum Deposit
    USD 1
    Trading Conditions
    11111
    Trading Platforms
    Trading Instruments
    • Cryptocurrencies
    • Forex
    • Metals
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Neteller
    Account Spread From Commission Execution Min. Deposit
    Mini MT4 0.3 pips None Market USD 1 Account Details
    Mini MT5 0.3 pips None Market USD 1 Account Details
    Standard Cent MT4 0.3 pips None Market USD 1 Account Details
    Standard MT4 0.1 pips None Market USD 1 Account Details
    Standard MT5 0.2 pips None Market USD 1 Account Details
    Pro 0.1 pips None Market USD 200 Account Details
    Raw Spread 0.0 pips $3.50 Market USD 200 Account Details
    Zero pips $3.50 Market USD 200 Account Details
    ECN MT4 0.0 pips $2.50 Market USD 300 Account Details
  • REGULATED BY
    FCA FCA
    ASIC ASIC
    DFSA DFSA
    Trading Desk Type
    Minimum Deposit
    AUD 100
    Trading Conditions
    11110.5
    Trading Platforms
    Trading Instruments
    • Commodities
    • Cryptocurrencies
    • Forex
    • Indicies
    • Metals
    • Energies
    Deposit Methods
    • Bank Transfer
    • Visa
    • Mastercard
    • Skrill
    • Paypal
    • Unionpay
    • POLi
    • BPay
    Account Spread From Commission Execution Min. Deposit
    Razor 0.0 pips AUD$ 7 ECN USD 200 Account Details
    Standard 1.0 pips None ECN USD 200 Account Details
    Swap-free 1.0 pips None ECN USD 200 Account Details

All Forex Brokers in Australia

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Open

What is Cryptocurrency CFD Trading?

Cryptocurrency CFD trading is much like other CFD trading, the difference being that the assets traded are cryptocurrencies, not Forex, commodities or equities.

The other major difference is that an established international CFD market for these other assets already exists, which means that traders can use DMA (Direct Market Access) brokers to open trading positions on the actual market.

As there is no established market for crypto CFDs, any broker offering them to trade must be the market. This means that the broker needs to be the counterparty to all trades, creating a direct conflict of interest between traders and the broker.

As STP brokers funnel all trades straight through to the market without interference, they will not offer crypto trading. You will need to find a market maker broker or one that can find a counterparty for the trade.

Why Trade Cryptocurrency?

Every market or financial instrument has its own unique behaviour, but the cryptocurrency CFD market is the most volatile and unpredictable of the CFD markets. It is this volatility that allows for big profits in single trades and attracts traders who accept the high risk in exchange for the potentially huge profit.

The high level of volatility available with digital currencies negates the need to use margin trading. Even though margin trading can be a powerful tool, margin trading of cryptocurrencies is a recipe for disaster for the inexperienced trader.

How Cryptocurrency Trading Works

The main aspect of cryptocurrency CFD trading operates in much the same way as you would trade the Forex CFDs. As with all trading, you’re doing so with the expectation that asset value will change in the way you have predicted, so you can close the trade for a profit.

Like Forex trading, cryptocurrencies are also traded in pairs using a two-way quotation system. It is still rare for brokers to offer cryptocurrency pairs where both currencies in the pairs are cryptocurrencies – an example would be BTC/LTC (Bitcoin and Litecoin). Most brokers offer pairs of one fiat currency and a cryptocurrency.

What makes this asset appealing to Forex traders is that it requires the same chart reading skills and chart pattern recognition skills that are used in the Forex market because the supply and demand forces function similarly.

Before You Begin

Before trading crypto CFDs, first, try to answer why you are interested in trading this asset class. In recent years, the value of cryptocurrencies have increased considerably, which has driven a belief that large profits are possible for considerably low risk.

Before you start trading Bitcoin (BTC) or any other cryptocurrency, you have to understand blockchain technology and how the value of cryptocurrencies change. Because these currencies are borderless with no oversight by a central bank or government, their behaviour is in no way regulated or controlled. Furthermore, as they have no value base (ie. they are not tied to the success or failure of a national economy), their price action is purely speculative.

As with all trading, the more you learn about a specific asset class, the better trading decisions you will be able to make.

Remember, not all brokers offer cryptocurrency trading. There is a growing number who do, and there are even fewer that have a wide range of cryptocurrencies to trade.

How to Start

Knowing the dos and don’ts should prevent you from making the errors that most novice traders are prone to make. Before you start trading cryptocurrencies, find a broker that offers an excellent education section and a full range of research and analysis on trading crypto pairs.

Make sure your broker that has the minimum deposit amount that suits you. Some traders will want to add more to their accounts than others, but this is a highly personal choice.

Is It Profitable?

Like all trading, if you’re on the right side of the market, you can make a profit. However, if you’re on the wrong side of the market with cryptocurrencies, you can lose a lot of money in a short period.

The cryptocurrency market is very volatile, and it’s not uncommon to see 20%, 30% and even 50% swings every single day. If you are day trading, this can translate to good profits if you can capitalise on the short-term fluctuations.

Is It Safe?

Trading cryptocurrency is a very high-risk market. In part, this is because the market doesn’t have a long history, so we can’t refer to previous market behaviour, but also because it does not have the same oversight and controls as fiat currencies. This lack of control makes the market an unpredictable asset to trade.

Cryptocurrency CFD trading is also only as safe as your broker. The same rules apply when looking for a broker to trade crypto CFDs, as they do for fiat currencies. Finding a well-regulated broker, with an acceptable account choice, trading conditions and reputation is key to your trading safety.

Cryptocurrency Trading Hours

Because there is no actual cryptocurrency exchange, and all trades use a broker as a counterparty, cryptocurrencies can be traded 24/7. Crypto CFDs are the only assets that trade around the clock, seven days a week, 365 days a year, which is very rare in the financial world.

In contrast, the stock markets operates 8 hours a day; 5 days per week while the Forex market pauses trading over the weekend.

The main advantage of a 24/7 market is that you can buy and sell cryptocurrencies any time of the day, making it accessible to all traders.

Are Profits Taxable?

Like any other regular income, cryptocurrency trading is taxable. However, the cryptocurrency market remains a relatively new market, and because of that, there is also a lot of ambiguity in the laws. In Australia, Bitcoin is not seen as money, but rather as property, thus being an asset subject to capital gains tax

If you’re transacting any cryptocurrency, you need to be aware of the tax consequences — no matter where you live, if you have significant money invested in cryptocurrencies you should always seek guidance from a financial adviser when it comes to legal issues and taxes.

Conclusion

Trading cryptocurrency CFD pairs is essentially the same as trading Forex currency pairs, and if you’re already an experienced technical Forex trader the transition into cryptocurrency will be straight forward. If you already have a trading account, you only need to find out what cryptocurrency pairs are available.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. 

Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)

Our Methodology

Our State of the Market Report and Broker Directory are the result of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal. 

In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.

All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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