Best Crypto Trading Platforms in Australia Investing com AU

A good crypto trading platform should integrate adequate tools and resources into their crypto trading platform. Advanced trading, analysis, market research, and risk management tools come in handy for pro traders. How to guides, educational materials, demo accounts, and copy trader tools – on the other hand – help novice investors start their crypto trading/investing journey on the right foot. Other factors that make OKX one of the most popular crypto exchanges in Australia include the fact that it is a multi-platform exchange. It is also on our list because it presents all its platform users with multiple passive income opportunities – including savings, dual investments, staking, and flash deals.

This is highly navigable, has all the key features clearly displayed, and maintains some of the fastest transaction execution speeds. It is also one of the most reputable crypto exchanges famed for its reliability and customer service. These notwithstanding, Coinbase ranks this high in our list of the best crypto exchanges Australia because of its beginner friendliness. That’s how you begin your crypto trading andinvesting journey through Australia’s top crypto exchange – eToro. After vetting hundreds of popular crypto exchanges, we settled on the following as the 15 best places to buy cryptocurrencies in Australia. If you buy or sell shares denominated in a currency other than pounds sterling, nearly all of the platforms charge a foreign exchange fee.

Tax on Crypto Assets in Australia

There is a 1% fee when using the instant buy and sell feature which is considerably more expensive compared to other exchanges like Swyftx (0.6%) and Binance (0.1%). There is the option to pay 0.1% per trade using the CoinSpot exchange, although it is not suitable for beginners and is difficult to use. The exchange has one of the largest offerings of cryptos with more than 350 coins. In addition to its massive list of crypto, Binance has futures trading and also margin trading to use up to 100x leverage.

• The result is that you are indirectly paying a 2% fee, which is effectively a spread in all but name.
• Cryptocurrency investing has become increasingly popular in recent years, coinciding with cryptocurrency prices.
• It will take a few minutes for the registration process to complete and then you will be able to access your account on the official website of Quantum AI.
• Not only do they have one of the biggest variety of cryptocurrencies on offer, but they also have a very advanced trading interface that allows for multiple order types.
• It offers investors a straightforward way to deposit fiat currency and invest in digital assets, effectively serving as an on-ramp and off-ramp between fiat currency and digital assets.

In this article, we’ll look at the top exchanges, evaluating them based on a wide range of factors, including their security, fees, ease of use, and the range of available cryptocurrencies. Whether you’re a seasoned crypto trader or just starting out, this article will help you find the best exchange for your needs. They have the highest trading volume, supported cryptocurrencies, and advanced trading tools for day traders. Other platforms, on the other hand, support up to 200 crypto assets, stablecoins, and DeFi tokens (e.g. ERC-20 tokens).

Binance: Best crypto exchange for day trading

However, there is always a chance that a breakout could be false and the trend will turn. Breakouts in the stock market refer to the price of an asset moving above a resistance level or dropping below a support level. Breaking through these levels often signifies strong movement in the related direction. That is to say, you’ll pay a fixed fee when you buy your chosen asset, and again when you cash out. Best of all, you can trade forex on Plus500 without paying any commission. In terms of spreads, the provider uses a dynamic system, albeit, this is usually very competitive on major pairs during standard market hours.

• This is because the minimum deposit is just $20 and no fees are charged for deposits or account management.
• Others have features like crypto staking or lending that allow you to earn interest on your crypto holdings.
• The country’s authorities have implemented regulations to prevent misuse, such as money laundering and terrorist financing, through digital currencies.
• In addition, Binance rewards new users with a bonus of up to $100 for free using a referral code for Binance.

These range from stalking, crypto lending and bowing, liquidity pools, and even bot trading. We compared different features across the leading trading platforms, with the greatest weight given to the level of fees and the range of investments offered. The largest DIY trading platforms, including Hargreaves Lansdown, interactive investor and AJ Bell, continue to dominate the market.

Ease of Use and Trading Tools

This fee is fixed, unlike some stockbrokers that increase their fees when you buy more. Trading CFDs does not involve the actual purchase of the underlying asset and only involves speculating on whether the price will rise or fall. In terms of fees, the pricing structure at Interactive Brokers can be a bit confusing at first glance. Not only will your commission depend on the asset you wish to trade, but also the account type you are on. With that said, Interactive Brokers does allow you to buy US-listed stocks and ETFs on a commission-free basis.

The deep liquidity for Bitcoin and the most popular digital currencies informed our decision to feature Binance in our list of the best crypto exchanges Australia in 2023. Many of the platforms charge no, or a lower trading fee, for this option. If this is not the case, the share trading fee can become disproportionately expensive for smaller monthly contributions. This is a flat fee charged by the platform each time you buy or sell shares.

Are Australian Exchanges the Best Choice for Local Traders?

For Self Managed Super Funds (SMSFs) in Australia, SwyftX stands out as the platform of choice. It offers extensive features and tax reporting specifically designed for SMSFs, coupled with strong security measures. Users praise SwyftX for its reliability and the wide range of investment options it provides. These factors contribute to SwyftX’s reputation as the top cryptocurrency exchange for SMSFs in Australia.

• Only a small number of the platforms on our list offer fractional share ownership.
• With its visually appealing design and layout, beginner investors should have no trouble making their way around.
• EToro has a social media platform that enables their users to interact with other traders and investors, and even copy-trade successful traders automatically.
• With the right assistance and perfect opportunities, anyone can double or quadruple their investment easily.
• However, accounts are held in US dollars – UK clients are charged a 0.5% currency conversion fee when funds are deposited.
• ASIC-regulated eToro is a great option if you are looking to combine online trading with a fully-fledged investment app.

Therefore, a $1,000 investment would allow you to diversify across five seasoned professionals. Copy Trading by eToro is the way to go if you like the sound of automated crypto trading. By doing this, you’ll be able to choose a successful crypto trader who uses eToro – based on their past performance and average monthly return. You can then copy the trade like-for-like in a transparent and regulated environment. Ultimately, you need to break even if you pay a high fee to deposit funds.

eToro – Best Trading Platform Australia with 0% Commission

A cryptocurrency wallet is an important tool for managing and storing your digital assets. It is not a requirement to have a cryptocurrency wallet when using crypto trading platforms, but it is highly recommended. A crypto wallet is a digital wallet that enables you to store, send, and receive cryptocurrencies. This can give you greater united states control over your cryptocurrencies and increase your security. Kraken is by far one of the most secure crypto trading platforms available in Australia today. It also proved to be one of the best places to buy cryptocurrencies when it became the first crypto exchange to publicly share its proof of reserves audit with the public.

• It also supports borrowing and lending services that allow you to borrow money to increase your trading volume.
• Although the fees are slightly higher, it provides a variety of investors the flexibility to pay for cryptos with bank cards.
• Through the Crypto.com earn program, you get to stake different cryptos and earn up to 12.5% APY in interests.
• It also has features like Binance Earn, Binance NFT marketplace, Binance Pay, and Launchpad.

Kraken is a Bitcoin and cryptocurrency exchange that was founded in 2011. The platform has expanded to Australia with a local office based in Sydney for customers to fund an account with Australian Dollars. Kraken is a top 10 platform based on traffic, liquidity and spot volume with more than 70 crypto trading pairs with new assets added frequently. In terms of the number of cryptos, Independent Reserve has 30 assets that can be bought, sold, and stored which are quite limited to other crypto trading platforms. Although, the offering does include the major coins by market capitalization such as Bitcoin, Ethereum, Binance Coin, XRP, and Cardano.

How to buy Cryptocurrency in Australia?

Another reason we picked Coinspot is the approach to simplifying investing in crypto with its ‘bundles’ option. This allows investors to buy assets in one transaction such as the Top 3, Top 10, Privacy coins, etc. One of the most compelling features of CoinSpot is the support for several payment methods that will cater to a broad range of Australians. They will be able to deposit AUD using POLI, PayID, BPAY, or even a cash deposit.

Although interactive investor doesn’t offer a live chat facility, our call was answered promptly and a good level of detail was provided. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive payment from the companies that advertise on the Forbes Advisor site. You should also find out whether the exchange site has been hacked before and whether the affected traders were reimbursed. Depending on your level of experience, you can choose the simple or advanced buying panel.

Swyftx: Best Australian crypto exchange

You can buy and sell cryptos on Huobi via the desktop and mobile apps (both iOS and Android). They all are feature-rich, with the apps replicating virtually all the features of the Huobi – Website. First is the heavily discounted crypto trading fees for crypto traders on this platform. This starts from 0.1% and drops to 0.015% – based on monthly transaction volumes.

• This exchange has over 660,000 customers and a 4.7/5 rating on Trustpilot.
• BTC20 is a cryptocurrency token that transports you back to the early days of Bitcoin.
• This keeps spreads and slippage to a minimum, which complements the extremely competitive fees that start from 0.06% (maker) and 0.01% (taker).
• You can choose from thousands of verified active traders and active investors based on their historical performance and preferred strategy.

It’s a multi-asset trading & brokerage company that allows traders to invest in FCDs, Stocks, and Cryptocurrency. This platform has a highly intuitive and visual platform that is perfect for beginners but also incorporates advanced trading options that expert traders would appreciate. You can either exchange AUD cash for crypto using the Instant Buy/Sell function which carries a hefty fee of 1%, or by buying them through the Exchange which is much cheaper (0.1% trading fees). The combination of a well-designed mobile app and an innovative debit card makes for one of the better crypto debit cards available to Australians.

Latest Market News

BTC20 is a cryptocurrency token that transports you back to the early days of Bitcoin. This novel crypto has been meticulously designed to reflect the excitement and enthusiasm that surrounded Bitcoin’s technology at – its inception. YPRED is a Polygon Matic token available for purchase using various cryptocurrencies. To participate in the presale, connect your DeFi wallet to the yPredict website and exchange tokens for YPRED.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.3% of retail investor accounts lose money when trading CFDs with this provider. Here’s an overview of the best trading platform Australia as well as some other top platforms that are worth considering. Whether you’re looking to trade forex, stocks, commodities, or Bitcoin – you’ll need to ensure that your chosen trading platform is right for you. Regardless of where you are in your investment journey, you may be interested in having access to trading guidance tools while making investment decisions.