Capital.com – Best Crypto Trading Platform for CFD Trading
Coinbase – Widest Selection of Cryptocurrencies to Trade
Binance – Best Bitcoin Exchange for Advanced Traders
AvaTrade – Trade Top Cryptos with Ultra-low Spreads
IG – Trade Crypto CFDs with 2:1 Leverage
Kraken – Trustworthy & Secure Crypto Exchange
Best Cryptocurrency Trading Platforms Reviewed
Cryptocurrency traders in Australia have a wide range of brokers to choose from. But not all brokers offer the same coins, the same trading fees, or the same trading tools.
To help you find the best cryptocurrency trading platform in Australia, we’ve put together reviews of the country’s 7 best crypto brokers:
1. eToro – Overall Best Crypto Broker in Australia
eToro is our pick for the overall best cryptocurrency trading platform in Australia. With this broker, you can trade 15 of the most popular digital currencies – including Bitcoin, Ethereum, Ripple, Litecoin, and more.
Better yet, eToro is both a CFD trading platform and one of the best cryptocurrency exchanges. That means you can trade top cryptos as CFDs and apply up to 2:1 leverage to your trade. Alternatively, you can buy the underlying coin and hold it in a digital wallet. eToro offers its own crypto wallet for Australian traders.
Either way you trade, eToro is 100% commission-free. The only fee you’ll pay when trading cryptocurrencies is a spread, which starts at 0.75% for BTC trading. Note that eToro’s spread includes both the buy and sell sides of your trade, so it compares very favourably to other Australian crypto trading platforms.
eToro offers excellent trading tools, including a custom charting platform that’s available for the web and as a mobile app. You get access to over 100 technical studies and drawing tools, plus a news feed and economic calendar.
eToro is also one of the best social trading platforms in Australia – you can connect with tens of thousands of traders from around the world. Plus, the platform supports copy trading so you can mimic the moves of experienced cryptocurrency traders.
eToro is regulated by the Australian Securities and Investment Commission (ASIC) and offers 24/5 customer support. You can get started with a $200 AUD deposit, and eToro accepts credit cards, debit cards, and e-wallets including PayPal.
Trade CFDs or buy cryptocurrencies outright
100% commission-free trading with low fees
Custom analysis platform for web and mobile
Includes a crypto wallet for holding digital assets
67% of retail investor accounts lose money when trading CFDs with this provider.
2. Capital.com - Best Crypto Trading Platform for CFD Trading
Capital.com is one of the best crypto brokers in Australia if you’re interested in trading crypto CFDs. The advantage of this type of trading is that you don’t own the underlying coins, so you don’t have to worry about managing a digital wallet and private keys. In addition, you can take advantage of margin trading with up to 2:1 leverage to increase the size of your positions.
Capital.com offers trading on 84 different cryptocurrencies, and the platform offers trading pairs beyond the standard USD pairs. For example, you can trade BTC against EUR or AUD, or trade altcoins like Dash directly against the price of Bitcoin. All cryptocurrency trading with Capital.com is 100% commission-free, and the broker’s spreads start at just 110 points for Bitcoin.
Capital.com has its own trading platform, which Australian crypto traders are sure to like. The platform gives you access to dozens of technical indicators and drawing tools to help you chart price movements. In addition, Capital.com enables you to create watchlists and offers customisable price alerts on the platform mobile apps.
The platform’s integrated trading tools are also extremely helpful. Capital.com uses Trading Central to provide actionable trading ideas, updated throughout the day. On top of that, the platform has a market news feed and a highly flexible economic calendar so you can stay on top of the events that move crypto prices.
Capital.com is regulated by the Cyprus Securities and Exchange Commission (CySEC). You can open an account with just $20 AUD, which is payable with a debit card or credit card. The brokerage also offers exceptional 24/7 support in case you ever have a question about your account.
100% commission-free crypto CFD trading
Uncommon trading pairs with EUR, AUD, and more
Advanced trading platform with mobile price alerts
71.2% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.
3. Coinbase - Widest Selection of Cryptocurrencies to Trade
Coinbase is one of the largest cryptocurrency exchanges in the world. It’s a great option for Australian traders who want the ability to buy digital currencies outright, and particularly for those who want to invest in altcoins. In fact, Coinbase has a selection of 4,659 coins and counting to choose from for trading.
This crypto exchange offers everything you need to start trading, including a secure crypto wallet. You can even spend cryptocurrency saved in your Coinbase wallet with a debit card issued by the exchange.
Coinbase doesn’t require a minimum deposit to open an account, but the transaction fees at this exchange can add up if you’re not careful. The broker charges a commission of 1.49% per trade (more if you trade less than $200 worth of crypto) or 2.99% if you use a debit card to fund your transaction. On the bright side, Coinbase doesn’t have spreads and there are no inactivity fees to worry about.
With this exchange, you can easily purchase cryptocurrency simply by selecting the coin you want to buy and entering the amount you want to invest. But you can also take advantage of the Coinbase Pro trading platform, which offers a number of advanced features for traders. You can see the entire order history and current order book for any digital currency, plus set up limit and stop orders to protect yourself from risk.
Coinbase is regulated in the US and the UK, and the exchange is preparing for an IPO in the US. So, it’s considered highly trustworthy. At this time, Coinbase only offers customer service by email.
4. Binance - Best Bitcoin Exchange for Advanced Traders
Binance is a unique crypto broker that goes above and beyond the offerings of other exchanges in Australia. To start, this exchange offers trading on hundreds of digital currencies, including many of the hottest altcoins. The brokerage offers trading against fiat currencies like US dollars as well as against its own stablecoin, BNB, to which you can convert funds for faster trading.
What really sets Binance apart is its crypto derivatives. The exchange allows you to buy and sell leveraged tokens, which are versions of popular coins that move several points up or down for every one-point move in the underlying coin. Binance also offers vanilla options trading on popular cryptocurrencies, so you can speculate on the timing of price movements and develop complex hedging strategies.
To help traders manage these complex derivatives and standard crypto trades, Binance offers a very comprehensive trading platform. You have access to dozens of built-in technical studies, as well as the order book and trade history for any coin. You also get advanced order types, including one-cancels-the-other orders.
Binance’s fee structure can be difficult to understand since the exchange has so many different options. For example, there’s one price for spot trades, another for trades made using Binance’s advanced trading platform, and another if you buy coins through peer-to-peer trading. In general, Binance’s pricing is competitive, but it’s important to read all the fine print to know how much a trade will cost you.
Binance is not regulated, although the exchange complies with most US financial laws. The company has a history of avoiding regulations and Binance isn’t considered as trustworthy as other crypto brokers. However, you can keep funds off the platform in a third-party crypto wallet, so you’re not totally dependent on Binance for protecting your money.
Trade hundreds of cryptocurrencies
Derivatives like options and leveraged tokens
Comprehensive trading platform with advanced orders
5. AvaTrade - Trade Top Cryptos with Ultra-low Spreads
AvaTrade is a popular cryptocurrency CFD broker in Australia that stands out for its ultra low-cost trading. The broker charges zero commissions and spreads for BTC trading are typically around 0.25% of market price. For ETH trading, spreads are just 0.35% per side.
AvaTrade’s selection of cryptocurrencies is somewhat limited. The broker only offers 8 of the most popular cryptocurrencies as CFDs, and doesn’t give traders access to stablecoins like USDT. However, for Australian traders interested mostly looking for a Bitcoin trading platform, this isn’t a problem.
AvaTrade offers its own trading platform for web and mobile as well as the MetaTrader 4 and 5 platforms. AvaTrade’s platform is a good option for beginner and intermediate traders who want easily customisable technical indicators, a market news feed, and watchlists. The MetaTrader platforms are more suitable for advanced traders who can take advantage of automated trading and strategy backtesting tools.
AvaTrade also offers a social trading platform, called AvaSocial. You can connect with thousands of traders from around the world and take advantage of copy trading to automate your cryptocurrency positions.
AvaTrade is regulated by ASIC as well as a number of other financial authorities. The platform provides 24/5 customer support by phone, email, and live chat.
IG is one of the most well-established CFD brokers in Australia. The company has been operating since 1974, and was early to add cryptocurrency trading to its platform. Today, IG offers trading on Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Stellar, EOS, and NEO. All of crypto CFDs can be traded with leverage up to 2:1.
In addition, IG has a custom cryptocurrency ETF that tracks the performance of the 10 most popular cryptocurrencies. This makes it easy for Australian traders to speculate on the crypto market as a whole instead of betting on a single currency.
Crypto CFD trading with IG is commission-free. Spreads for BTC trading start at 36 pips, which would make it one of the cheapest crypto brokers in Australia. However, we found that spreads of 125 pips are more common under standard trading conditions. This is in line with the average cost for BTC trading in among the best crypto brokers in Australia.
IG offers traders the ProRealTime trading platform, which includes a number of highly advanced features. You can build algorithms to automate your trading strategy, as well as access decades’ worth of price data to test out your strategy before putting it into action. ProRealTime also offers advanced order types like trailing stop losses to help you manage your risk while trading cryptocurrencies.
IG is regulated by ASIC. The company is considered highly trustworthy given its long history in Australia. You can get in touch with support by phone, email, or live chat 24/5.
Trade 7 popular cryptos with 2:1 leverage
Crypto 10 index offers broad exposure
ProRealTime platform supports automated trading
Includes advanced orders like trailing stop losses
Kraken is a cryptocurrency exchange that prides itself on security and ease of use. The platform keeps 95% of customer funds in cold storage wallets that are fully disconnected from the global internet. It also uses authentication when you sign into your account to prevent intruders from accessing your funds. Kraken doesn’t offer its own crypto wallet for traders because the broker wants you to be able to manage your own private keys. While this can be a slight hassle, it does lead to a more secure experience.
Kraken currently offers trading on a selection of 56 digital currencies, all of which are traded in pairs against USD and EUR. You can trade on margin (the amount varies by coin) as well as take advantage of crypto futures trading. This enables you to speculate on the timing of price movements and can add a significant amount of leverage to your positions.
The Kraken trading platform is built for advanced crypto traders. It offers an in-depth look at a coin’s order book and trade history, as well as dozens of customisable indicators. You can group coins into watchlists, set price alerts, and manage risk with limit and stop loss orders. We also appreciate that the Kraken platform is highly flexible, so you can find a layout that works for you.
Unfortunately, Kraken’s fee structure can be expensive. The exchange charges 0.9% for stablecoin purchases and 1.5% for all other crypto transactions. In addition, there’s a 3.75% credit card fee and a 1.7% debit card fee. If you trade with Kraken Pro, spreads start at 0.16% per transaction.
Kraken is regulated in the US and has a banking exchange license. Given the platform’s intensive security measures, it is one of the more reliable exchanges available in Australia.
Highly protective security measures
Trade 56 cryptocurrencies with USD and EUR
Supports crypto futures trading
Flexible trading platform with risk management tools
How to Choose the Best Cryptocurrency Trading Platform for You
Wondering which of the 7 platforms we reviewed is the best crypto broker in Australia for your needs? Let’s take a closer look at some of the factors you need to consider when choosing a cryptocurrency trading platform.
Regulation is the best place to start when choosing a crypto broker. Unfortunately, the crypto world is rife with scams and suspicious exchanges that don’t put your best interests first. So, it’s critical that you choose a broker that is overseen by a trustworthy financial regulator.
Top regulators include ASIC in Australia, the Financial Conduct Authority (FCA) in the UK, CySEC in the EU, and the Securities and Exchange Commission (SEC) in the US. All of the crypto brokers we reviewed, except for Binance, are fully regulated by one or more of these authorities.
The selection of crypto assets you can trade is the next most important thing to consider when choosing a broker. If you only want to trade Bitcoin, you’ll have your pick of exchanges. But if you want to trade a little-known altcoin, you’ll need to find a crypto broker that specifically offers that coin.
Another thing to consider is whether you can buy Bitcoin and other cryptocurrencies outright or whether you can trade digital currencies through CFDs. Buying cryptocurrencies outright requires that you set up a digital wallet to safely store your coins. When you trade CFDs, you don’t own the underlying coin so there’s no need to worry about a wallet.
Some brokers, like eToro, allow you to buy cryptocurrencies outright or trade CFDs. But most of the best crypto trading platforms in Australia only offer one or the other.
The cost of trading cryptocurrencies can vary widely from one broker to another. So, it’s important to understand what you’ll pay to trade and how those costs can add up over time.
To start, fees are typically broken down into commissions and spreads. Commissions are percentage-based fees paid for every transaction. Many exchanges charge higher commissions for spot trades than for cryptocurrency trades made using the exchange’s trading platform.
Spread are variable fees that represent the difference between what you can buy a cryptocurrency for and what you can sell it for. Although these are often smaller than commissions, keep in mind that you will typically pay a spread both when you buy a coin and when you sell it.
Also watch out for additional charges such as deposit fees, withdrawal fees, and inactivity fees. You may be able to avoid these charges, but it’s important to know whether or not a broker has them before signing up.
Trading Tools & Features
Your crypto broker will be your main source of trading tools to help you make decisions about what coins to trade and when. So, it’s essential that you choose a broker with a powerful trading platform that offers features to help you maximise your profits.
There are several aspects of the trading platform to consider. First, look at the technical charting and drawing tools to see if they are flexible enough for your needs. Some advanced platforms allow you to create your own studies, although this might be more complex than most intermediate traders need.
You should also look at whether a broker’s trading platform offers insight into the market for a coin. Many exchanges offer access to a cryptocurrency’s trade history and order book. Others offer a market sentiment gauge that shows how many traders are buying or selling a specific cryptocurrency.
Finally, consider whether you need extra trading features like automated trade ideas or a social trading network. eToro, for example, offers a social trading platform that connects you with tens of thousands of other crypto traders from around the world. This can be very helpful for developing new trading strategies or identifying hot new trends.
Liquidity plays an enormous role in the cryptocurrency market. Coins like Bitcoin and Ethereum that have high trading volume typically also have high liquidity. Altcoins that see very little trading volume may have low liquidity.
If you’re concerned about liquidity, make sure your broker offers information about trading volume. Having access to an exchange’s order book can be very useful for seeing how the price of a coin might move in response to a large trade.
Although your cryptocurrency trading platform needs to offer highly advanced tools, it also needs to be user-friendly - even for beginner traders. The more seamless your user experience, the better your trading decisions will be. A good user interface also ensures that you can make decisions quickly and execute trades before the market moves.
There’s no single set of features that makes for a good user experience. Instead, look for trading platforms that offer flexible layouts and lots of options for customisation. Whenever possible, try out a broker’s demo account to test drive the trading platform before signing up.
The cryptocurrency market moves 24/7, which means that even the most dedicated desktop traders need the ability to trade on the go from time to time. That’s why all of the top cryptocurrency trading platforms we reviewed offer mobile apps for iOS and Android devices.
Ideally, the mobile app should offer the same trading tools and analysis features as the web-based platform. Look for features like full-screen charts, mobile price alerts, scrollable news feeds, and customisable watchlists. It’s also a good idea to try out the mobile app using a demo account to ensure that it offers a seamless user experience.
All of the cryptocurrency brokers we reviewed accept a wide variety of payment methods, including bank account transfers, credit cards, and debit cards. Many of the exchanges, including eToro, Coinbase, Binance, and Kraken, also allow you to make a deposit using BTC or another cryptocurrency that you already own.
Keep in mind that some brokers charge extra fees for debit or credit card payments. In addition, only a handful of brokers, such as eToro, accept payments using an e-wallet like PayPal.
If you ever run into an issue with your account, it’s nice to know that help is available right away. That’s why we recommend choosing crypto trading platforms that offer 24/5 or 24/7 customer support. Several of the brokers we reviewed offer this level of service.
In addition, it’s a good idea to ensure there are multiple ways to get in touch. Phone and live chat support are nice because you can get connected with a customer service agent instantly. Email responses might be quick, but you’ll still be left waiting for a few hours.
How to Start Cryptocurrency Trading
Ready to start trading cryptocurrency with one of the best crypto trading platforms in Australia? We’ll show you how to trade crypto using eToro, which offers an advanced set of analysis tools, a social trading network, and zero commissions.
Step 1: Open an eToro Account
To get started with eToro, head to the broker’s website and click Join Now to open a new account. You’ll need to enter your name, email, and phone number for your account. Alternatively, you can sign up using your Google or Facebook login.
In order to comply with ASIC regulations, eToro requires you to verify your identity. Upload a copy of your driver’s license or passport along with a copy of a utility bill or financial statement that shows your address.
Step 2: Deposit Funds
Next, deposit funds into your new account. eToro requires a minimum deposit of $200 AUD, which you can pay with a bank transfer, debit card, credit card, or e-wallet like Neteller, Skrill, or PayPal.
Step 3: Set Up a Crypto Wallet (Optional)
If you want to buy cryptocurrencies outright with eToro, you’ll need to set up a crypto wallet first. You can do this by downloading the eToro wallet app from the Apple App Store or Google Play on your mobile device. Open the app and log in with your eToro account information to link it to your trading account.
You can skip this step if you plan to trade cryptocurrency CFDs with eToro.
Step 4: Buy Cryptocurrency
Now you’re ready to trade cryptocurrencies with eToro. From the eToro dashboard, search for the cryptocurrency you want to trade and click Trade when it appears in the drop-down menu.
In the order form, enter the amount you want to invest in the coin. Choose whether to apply 2:1 leverage (if you’re trading CFDs) and enter a stop loss or take profit level for your trade.
Once you’re ready, click Open Position to buy your first cryptocurrency with eToro.
Cryptocurrency trading has exploded in popularity as the price of Bitcoin has shot upwards. The best crypto trading platforms in Australia enable you to trade not only BTC, but also other popular coins like ETH, XRP, and LTC. Thanks to our reviews of the 7 best crypto brokers, you can easily get started trading digital currencies in Australia today.
Ready to start trading? Click the link below to sign up for eToro today and pay no commissions for crypto trading!
67% of retail investor accounts lose money when trading CFDs with this provider.
How much money do I need to start trading cryptocurrencies?
The minimum amount you need to start trading crypto is simply the minimum deposit for your broker to open an account. This can be as low as $20 AUD. However, we recommend committing at least $500 AUD if you are planning to start trading cryptocurrency.
Can I buy cryptocurrencies with a credit card?
Yes, many of the best crypto trading platforms in Australia allow you to fund your account with a credit card. Keep in mind that there may be additional fees for using a credit card.
Do I need a crypto wallet to trade cryptocurrencies in Australia?
If you want to buy cryptocurrencies outright, you will need a crypto wallet to store your coins safely. Many crypto exchanges offer built-in wallets to make this process easy. If you are trading crypto CFDs, you do not need a digital wallet.
Can I trade cryptocurrencies with more than 2:1 leverage?
Most crypto brokers limit leverage for crypto trading to 2:1 because of regulations by financial authorities. Some unregulated brokers may allow higher leverage. However, be very careful when trading with unregulated cryptocurrency brokers as there are few investor protections.
What are crypto derivatives?
Crypto derivatives include crypto CFDs, options contracts, futures contracts, and leveraged tokens. They allow you to speculate on the price of a cryptocurrency without owning the coin itself.
About Michael Graw
About Michael Graw
Michael Graw is a freelance journalist based in Bellingham, Washington. He covers finance, trading, and technology. His work has been published on numerous high-profile websites that cover the intersection of markets, global news, and emerging tech. Michael has also written for TechRadar, Tom’s Guide, StockApps, Buyshares and LearnBonds.