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AuthorBy Jeffrey Cammack
Updated: May 28, 2021

Cryptocurrency trading is a popular addition to CFD trading due to bitcoin’s popularity and the potential to profit from the wild changes in cryptocurrency value. With a rise in interest in cryptocurrency trading, unregulated brokers have sprung up to take advantage of unprepared newcomers. Always trade with a well-regulated broker. 

To test these brokers, we registered for a live trading account, verified the broker’s regulation, and confirmed the trading platform could perform technical analysis, execute trades quickly and with a wide variety of cryptocurrency pairs. More dependable brokers will offer a margin account, providing at least 10:1 leverage on crypto pairs, with trading conditions that won’t exhaust your profits. Always use a demo account to familiarize yourself with CFD trading before risking your capital. These are the best cryptocurrency brokers in Australia for 2021, according to our testing and our research.

English

The best CFD brokers for trading Cryptocurrencies

Last updated on 28 May 2021
Updated 28 May 2021
by Editorial Director Jeffrey Cammackby Jeffrey Cammack
Jeffrey Cammack
All Brokers Regulated
All Brokers Regulated
by Trusted Authoritiesby Trusted Authorities
Trusted
1
FP Markets
Min. Deposit
AUD 100
4.234.23
Crypto Pairs
5
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.23/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.10 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & IRESS platforms supported. FP Markets is regulated by CySEC and ASIC.
2
eToro
Min. Deposit
AUD 50
3.693.69
Crypto Pairs
16
Trading Desk Type
REGULATED BY
Overall Rating
1110.503.69/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 1 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. Only eToro proprietary trading platform supported. eToro is regulated by CySEC, FCA, and ASIC.
3
AvaTrade
Min. Deposit
AUD 100
4.484.48
Crypto Pairs
18
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.48/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.90 pips. Minimum initial deposit 100 AUD. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.
4
IG Markets
Min. Deposit
AUD 250
4.694.69
Crypto Pairs
8
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.69/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, ProRealTime and L2 Dealer platforms supported. IG Markets Group is regulated by FCA, ASIC, and the FSCA.
5
Pepperstone
Min. Deposit
AUD 100
4.614.61
Crypto Pairs
5
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.61/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.09 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and the DFSA.
6
IC Markets
Min. Deposit
AUD 200
4.464.46
Crypto Pairs
10
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.46/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.10 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. IC Markets is regulated by CySEC and ASIC.
7
Admiral Markets
Min. Deposit
AUD 100
4.244.24
Crypto Pairs
32
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.24/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.50 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & MT4 Supreme Edition platforms supported. Admiral Markets is regulated by ASIC, CySEC, and the FCA.
8
CMC Markets
Min. Deposit
AUD 5
4.694.69
Crypto Pairs
12
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.69/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & CMC Proprietary platforms supported. CMC Markets is regulated by the ASIC, FCA, MAS and the FMA.
9
MarketsX
Min. Deposit
AUD 250
4.394.39
Crypto Pairs
6
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.39/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5, and Marketsx platforms supported. Markets.com is regulated by the FCA, CySEC, ASIC, and the BVI FSC.
10
BDSwiss
Min. Deposit
AUD 100
4.324.32
Crypto Pairs
5
Trading Desk Type
REGULATED BY
Overall Rating
11110.54.32/ 5
AlertAccepts Australian Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. BDSwiss is regulated by CySEC, FSC, and the FSA-Seychelles.

How to compare cryptocurrency brokers

Cryptocurrency trading is not available at all brokers, and this can be for several reasons. Regulatory conditions restrict some brokers – for instance, the FCA has barred all UK-based brokers from offering cryptocurrency CFD trading. For other brokers it is a business decision to not offer crypto trading, and for some it is due to platform limitations. When comparing cryptocurrency brokers, consider: 

Regulation: Regulation, especially with cryptocurrency trading, is very important. Numerous illicit offshore brokers specialise in cryptocurrency trading, so always verify your broker’s regulation before making a deposit.

Demo accounts: This free account type should always be a starting point for any trader starting to trade crypto. Cryptocurrency is extremely volatile, and price patterns are much harder to predict, as limited fundamental data is available and all trading is done by examining charts.

Leverage: Leverage is typically much lower, between 1:5 and 1:10, for cryptocurrency pairs. While using too much leverage in highly volatile markets can devastate a trading account, traders will still want to access some leverage. Check that the leverage amounts match your risk appetite.

Number of cryptocurrency pairs: Some cryptocurrency traders will be happy with a smaller number of pairs, which will limit them to Bitcoin, Litecoin, and other coins against the USD. Some brokers and cryptocurrency exchanges will offer a wider range of crypto CFDs which will introduce more variety to your trading. Trading the same few crypto pairs will limit your cryptocurrency trading opportunities, and you will need to find other asset classes, like Forex or commodities, to trade in parallel. 

Number of FX pairs: Most cryptocurrency traders will also want to trade currencies. Just as the number of crypto pairs is important, so too is the same with the FX pairs. The more currency pairs available, the more variety you can have in your trading.

Transaction fees: Brokers may introduce a fee for trading cryptocurrency in addition to the spread. Spreads on cryptocurrency can be a lot wider than on fiat currency pairs, which means that large changes in prices will need to happen for a trader to profit.


  • FP Markets - Best MetaTrader Execution
  • eToro - Largest Set of Cryptocurrencies to Trade
  • AvaTrade - Best Mobile Experience for Cryptocurrency Trading
  • IG Markets - Best Regulated Cryptocurrency Broker
  • Pepperstone - Best ECN for Cryptocurrency Trading
  • IC Markets - Best Cryptocurrency Broker for Beginners
  • Admiral Markets - Best MetaTrader Tools
  • CMC Markets - Lowest Deposit Cryptocurrency Account
  • MarketsX - Most Powerful Tools for Cryptocurrency Trading
  • BDSwiss - Best Market Research Provider for Cryptocurrency Traders

FP Markets – Best MetaTrader Execution

A leading CFD broker, FP Markets offers trading on multiple assets, including Forex, commodities, shares, metals, indices, and cryptocurrencies on both the MT4 and MT5 platforms.  With its low latency, lightning-fast trade execution, FP Markets provides the ideal conditions for scalping and those using Expert Advisors (EAs). 

FP Markets offers cryptocurrency trading, including Bitcoin, Litecoin, Ripple, and Ethereum on two live accounts – the Standard Account and the Raw Account.  Both accounts offer similar trading conditions, a leverage of up to 2:1, and no commissions.  The benefit of trading cryptocurrency CFDs through FP Markets is that one never owns the underlying asset, removing the need for a Crypto wallet. 

Pros
  • Well regulated
  • Tight spreads
  • Good range of accounts
  • Great customer support
Cons
  • Expensive withdrawals
AlertAccepts Australian Clients. Average spread EUR/USD 0.10 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & IRESS platforms supported. FP Markets is regulated by CySEC and ASIC.

eToro – Largest Set of Cryptocurrencies to Trade

Founded in 2007, eToro is a well-regulated market maker offering trading on numerous assets, including Forex, stocks, commodities, and over 96 cryptocurrency pairs, one of the largest sets in the industry.  With one live commission-free account, fees are included in the cryptocurrency spreads, but traders should note that cryptocurrencies are unleveraged products.  The minimum deposit to open an account is 200 USD, and eToro has a minimum withdrawal amount that varies, depending on the cryptocurrency.  Furthermore, as per the industry standard, cryptocurrency transactions, including transferring funds, also incur a fee.

eToro offers clients a unique trading experience on its popular bespoke crowd trading platform.  Its innovative copy trading tool allows clients to automatically copy the trades of more experienced traders, while its CopyPortfolio tool bundles together all tradable assets under one chosen market strategy to minimise risk and create diversified investments. 

Pros
  • Well regulated
  • Good for beginners
  • Innovative trading tools
Cons
  • Limited education
  • Wide spreads
AlertAccepts Australian Clients. Average spread EUR/USD 1 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. Only eToro proprietary trading platform supported. eToro is regulated by CySEC, FCA, and ASIC.

Avatrade – Best Mobile Experience for Cryptocurrency Trading

A well-regulated market maker, Avatrade provides a reliable, user-friendly trading environment on a range of platforms, including its innovative mobile app – AvaTradeGO.  AvatradeGO allows traders to view their trades at a glance, create watchlists, and view live prices and charts.  It also allows traders to trade on more than 250 instruments, including 8 cryptocurrencies on its mobile app. 

Avatrade supports cryptocurrency trading 24/7, which means that traders can operate on the weekend.  Furthermore, unlike many other brokers that restrict clients by only allowing crypto to crypto trading, Avatrade clients can trade cryptos against Fiat currencies (USD, EUR, and JPY).  Lastly, Avatrade offers some of the best trading conditions on cryptocurrencies, but leverage is limited to 2:1 because of the volatility of the market. 

Pros
  • Good for beginners
  • Well regulated
  • Low minimum deposit
Cons
  • Dealing desk
  • Limited market analysis
AlertAccepts Australian Clients. Average spread EUR/USD 0.90 pips. Minimum initial deposit 100 AUD. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.

IG Markets – Best Regulated Cryptocurrency Broker

IG Markets is one of the best-regulated CFD brokers in the world.  With regulation from ten regulatory authorities, including the FCA, ASIC, and BaFin, it is also an FTSE 250 company on the London Stock Exchange.  With IG Markets, traders can speculate on 10 major cryptocurrencies and crosses, or get broad exposure with its Crypto 10 index. 

Cryptocurrency trading at IG Markets is commission-free, and fees are charged in the spread mark-up.  Retail clients are afforded leverage of up to 2:1, Pro Level 1 clients’ leverage is up to 4:1, and Pro Level 2 leverage is up to 12:1.  Furthermore, IG Markets sources its raw prices from multiple execution venues with the aim of reducing its transactional charges, resulting in comparatively tighter spreads.  Traders also have the choice between MT4 and IG Markets’ proprietary L2 Dealer platform. 

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Excellent education
  • Excellent market analysis
Cons
  • High minimum deposit
AlertAccepts Australian Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, ProRealTime and L2 Dealer platforms supported. IG Markets Group is regulated by FCA, ASIC, and the FSCA.

Pepperstone – Best ECN for Cryptocurrency Trading

Pepperstone is a leading ECN/STP broker that offers support for the MT4, MT5, and cTrader platforms.  It offers CFD trading on 180+ instruments, including Forex, indices, shares, commodities, 12 cryptocurrencies, and crypto baskets.  Pepperstone’s two ECN accounts offer lightning-fast, low latency trading and boast some of the tightest spreads in the industry.  Most trades are executed within 30 milliseconds, which is ideal for scalpers and those who run expert advisors. 

Pepperstone offers weekend trading on Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ripple, Polkadot, and more.  Traders can access leverage of up to 2:1, and no commissions are charged on the trades – all fees are included in the spread.  Its award-winning customer support is also available 24/7 to help traders with any account queries or technical questions. 

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
    AlertAccepts Australian Clients. Average spread EUR/USD 0.09 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and the DFSA.

    IC Markets – Best Cryptocurrency Broker for Beginners

    A beginner-friendly ASIC-regulated CFD broker, IC Markets offers trading on a broad range of instruments, including Forex, commodities, indices, bonds, and 12 cryptocurrency pairs.  Cryptocurrency trading is offered 24/7 at IC Markets, alongside 24/7 customer support, which is great for weekend traders and beginners who are trying to find their footing.  Leverage is up to 2:1 and all fees are included in the variable spreads.  Furthermore, IC Markets offers a broad range of trading platforms, including MT4, MT5, and cTrader, in addition to a number of copy trading platforms such as Zulutrade, and Myfxbook Autotrade, which are appealing to new traders. 

    IC Markets also offers an impressive array of course material, including video tutorials, articles, frequent webinars, and IC Markets’ WebTV.  It also provides an extensive hub of market analysis materials including fundamental analysis, technical analysis, and an up-to-date market news section. 

    Pros
    • Well regulated
    • Tight spreads
    • Wide range of assets
    • Great platform choice
    Cons
    • High minimum deposit
    • Limited market analysis
    AlertAccepts Australian Clients. Average spread EUR/USD 0.10 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. IC Markets is regulated by CySEC and ASIC.

    Admiral Markets – Best MetaTrader Tools

    Admirals, formerly known as Admiral Markets, is an Australian broker offering trading on a wide range of assets, including 40+ Forex pairs, 32 cryptocurrency CFDs, metals, energies, commodities, indices, shares, ETFs, and bonds.  Trading is offered on both the MT4 and MT5 platforms, but traders can only choose between four crypto pairs on the MT4 platform and between 32 pairs on MT5, including 22 cryptocurrency pairs crossed with Fiat currencies, and 10 cryptocurrency cross pairs. The minimum deposit on the trading accounts is 100 EUR/GPB/AUD, leverage is up to 2:1, and trading is open 24/7 on pairs with EUR and digital crosses.  No commissions are charged. 

    Admirals offers its own customised plugin for MetaTrader, known as the MetaTrader Supreme Edition.  This custom plugin was built by MetaQuotes for Admirals and adds powerful features to both the MT4 and MT5 platforms.  Included in the MetaTrader Supreme Edition is the Global Opinion toolset, which scans and contextualises millions of financial news stories and social media posts, providing traders with a dynamic view of market sentiment. 

    Pros
    • Well regulated
    • Excellent education
    • Wide range of assets
    Cons
    • Expensive withdrawals
    AlertAccepts Australian Clients. Average spread EUR/USD 0.50 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & MT4 Supreme Edition platforms supported. Admiral Markets is regulated by ASIC, CySEC, and the FCA.

    CMC Markets – Lowest Deposit Cryptocurrency Account

    A well-regulated British market maker, CMC Markets offers trading on a wide range of assets, including Forex, indices, shares, commodities, treasuries, share baskets, and cryptocurrencies on one live account option.   Full support is offered for MT4 and CMC Markets’ Next Generation trading platform.

    CMC Markets’ single trading account has a minimum deposit requirement of only 5 AUD and offers commission-free trading on 12 cryptocurrency pairs and features leverage of 2:1.  CMC Markets also presents a unique offering with its cryptocurrency baskets, including its All Crypto Index, Major Crypto Index, and Emerging Crypto Index.  These crypto indices offer a unique, cost-effective way to trade on the wider cryptocurrency market without having to trade multiple, individual coins. 

    MT4 users can further customise their platform with a range of tools such as Autochartist, a free VPS service, and the FX Blue plugin. 

    Pros
    • Well regulated
    • Tight spreads
    • Good for beginners
    • Excellent education
    • Excellent market analysis
    Cons
    • No swap-free account option
    AlertAccepts Australian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & CMC Proprietary platforms supported. CMC Markets is regulated by the ASIC, FCA, MAS and the FMA.

    Markets.com – Most Powerful Tools for Cryptocurrency Trading

    A well-regulated market maker, Markets.com offers trading and investing on over 2,200 instruments on a broad range of trading platforms, including MT4, MT5, and its award-winning platform, Marketsx.  Markets.com offers one live commission-free account on which traders can choose between 25 cryptocurrencies and access leverage of up to 2:1. 

    Marketsx is an advanced multi-asset platform packed full of features, including fundamental, technical, and sentiment analysis tools.  Traders can follow their crypto picks and turn knowledge into actionable trading opportunities with various sentiment tools.  The advanced charting package includes dozens of indicators and oscillators, including Forecasting, Long/Short position tracking, Elliott Wave, Fibonacci Retracement, and more.  Lastly, traders can stay on the pulse with custom alerts delivered to their phone, email, or on the platform.

    Pros
    • Well regulated
    • Tight spreads
    • Wide range of assets
    • Fast and free withdrawals
    Cons
    • High minimum deposit
    AlertAccepts Australian Clients. Average spread EUR/USD 0.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5, and Marketsx platforms supported. Markets.com is regulated by the FCA, CySEC, ASIC, and the BVI FSC.

    BDSwiss – Best Market Research Provider for Cryptocurrency Traders

    A well-regulated market maker, BDSwiss offers trading on a broad range of tradable assets on three live accounts.  BDSwiss offers full support for the MT4, MT5, and its bespoke BDSwiss Webtrader application, featuring an extensive set of analysis tools and advanced charting. 

    With 20 cryptocurrency pairs available for trading, including Bitcoin, Litecoin, Ripple, and Ethereum, no commissions are charged, and BDSwiss offers leverage of up to 5:1. 

    The BDSwiss Trading academy and market analysis materials are some of the best in the industry.  Curated by a team of renowned market analysts and professional traders that provide 24/5 market news coverage, it is well-recognised by the global industry and its Research Team is often featured in world-leading publications.

    Pros
    • Tight spreads
    • Good for beginners
    • Wide range of assets
    Cons
    • Expensive withdrawals
    AlertAccepts Australian Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. BDSwiss is regulated by CySEC, FSC, and the FSA-Seychelles.

    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.

    All Brokers with Cryptocurrency Trading

    These are all the brokers we have reviewed that provide cryptocurrency trading, ordered by the number of cryptocurrency pairs offered. 

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    Overall Rating
    Official Site
    Min. Deposit
    Crypto Pairs
    No. of FX Pairs
    Unlimited Demo Account
    Copy Trading
    Regulators
    Compare
    Official Site
    4.54 /5
    Read Review
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    Your capital is at risk
    AUD 20
    128
    166
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    Your capital is at risk
    4.24 /5
    Read Review
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    Your capital is at risk
    AUD 100
    32
    40+
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    Your capital is at risk
    4.12 /5
    Read Review
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    Your capital is at risk
    USD 50
    19
    56
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    Your capital is at risk
    3.58 /5
    Read Review
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    Your capital is at risk
    USD 250
    19
    48
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    Your capital is at risk
    4.48 /5
    Read Review
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    Your capital is at risk
    AUD 100
    18
    50+
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    Your capital is at risk
    3.69 /5
    Read Review
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    AUD 50
    16
    52
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    Your capital is at risk
    4.14 /5
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    Your capital is at risk
    USD 5
    16
    49
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    Your capital is at risk
    2.62 /5
    Read Review
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    USD 25
    15
    37
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    Your capital is at risk
    4.69 /5
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    AUD 5
    12
    330
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    Your capital is at risk
    3.28 /5
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    USD 10
    12
    57
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    Your capital is at risk
    4.14 /5
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    USD 1
    11
    80
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    Your capital is at risk
    3.32 /5
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    Your capital is at risk
    USD 1
    11
    110
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    Your capital is at risk
    3.53 /5
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    Your capital is at risk
    USD 10
    11
    33
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    Your capital is at risk
    4.46 /5
    Read Review
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    AUD 200
    10
    60
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    Your capital is at risk
    4.09 /5
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    AUD 200
    9
    70+
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    Your capital is at risk
    4.69 /5
    Read Review
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    AUD 250
    8
    93
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    Your capital is at risk
    2.85 /5
    Read Review
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    Your capital is at risk
    USD 5
    8
    38
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    Your capital is at risk
    3.49 /5
    Read Review
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    Your capital is at risk
    USD 100
    7
    43
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    Your capital is at risk
    3.83 /5
    Read Review
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    Your capital is at risk
    USD 1
    7
    65
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    Your capital is at risk
    4.34 /5
    Read Review
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    AUD 5
    6
    80+
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    Your capital is at risk
    4.39 /5
    Read Review
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    AUD 250
    6
    50+
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    Your capital is at risk
    2.99 /5
    Read Review
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    USD 100
    5
    46
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    Your capital is at risk
    4.23 /5
    Read Review
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    Your capital is at risk
    USD 50
    5
    65
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    Your capital is at risk
    4.32 /5
    Read Review
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    AUD 100
    5
    50+
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    Your capital is at risk
    4.18 /5
    Read Review
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    Your capital is at risk
    AUD 50
    5
    84+
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    Your capital is at risk
    3.52 /5
    Read Review
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    USD 500
    5
    40
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    Your capital is at risk
    3.83 /5
    Read Review
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    Your capital is at risk
    USD 50
    5
    50
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    Your capital is at risk
    4.23 /5
    Read Review
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    Your capital is at risk
    AUD 100
    5
    60+
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    Your capital is at risk
    4.13 /5
    Read Review
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    Your capital is at risk
    AUD 50
    5
    40
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    Your capital is at risk
    4.24 /5
    Read Review
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    Your capital is at risk
    AUD 100
    5
    70+
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    Your capital is at risk
    3.93 /5
    Read Review
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    AUD 200
    5
    46
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    Your capital is at risk
    4.10 /5
    Read Review
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    Your capital is at risk
    AUD 200
    5
    50+
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    Your capital is at risk
    4.18 /5
    Read Review
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    Your capital is at risk
    USD 100
    5
    38
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    Your capital is at risk
    4.19 /5
    Read Review
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    Your capital is at risk
    USD 50
    5
    85
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    Your capital is at risk
    4.61 /5
    Read Review
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    AUD 100
    5
    80+
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    Your capital is at risk
    4.00 /5
    Read Review
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    USD 1000
    5
    78
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    Your capital is at risk
    4.18 /5
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    Your capital is at risk
    USD 5
    5
    36
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    Your capital is at risk
    4.07 /5
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    USD 100
    4
    40
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    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

    References

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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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