A CFD broker will provide speculators with a crypto trading platform in which to buy & sell crypto, live pricing & charts, a trading desk to call, customer support etc. As of May , there are over 40 crypto CFD brokers here in Australia, all providing access to a range of cryptocurrencies. GAIN Capital Australia Pty Ltd, Suite , Level 7, 25 Bligh Street, Sydney NSW (ACN , AFSL ) is the CFD issuer and our products are traded off exchange. † 1 point spreads available on the UK , Germany 30, France 40 and Australia . Let’s say you enter into a Bitcoin CFD contract at a current market price of US$8,, believing the market price will rise by a certain time. If the price of Bitcoin has risen at the expiry of the contract, you’ll make a profit based on the difference between the buy and sell price.
Bitcoin cfd brokers australiaBitcoin Brokers Australia - How To Trade/Buy/Invest in Bitcoin
However, the company has an entity in Australia to service Aussie customers. ASIC regulates this entity. The most remarkable feature about eToro is its platform. The broker prides itself on being a social trading network. You can access their software similarly on a desktop or a mobile device. The biggest appeal of eToro is the social component. Users can copy trades of successful investors and follow others on the platform. Read our eToro review. The broker offers a free demo version of the software.
New users can practice trading Bitcoins without actually spending money. Plus offers a well-regarded CFD trading service to users from around the world. The Israel-based broker has an office in Australia. The broker is regulated under local laws by ASIC. The broker has a CFD trading platform where you can also trade a number of cryptocurrencies including Bitcoin but also stocks like Tesla.
Plus offers some of the best leverages on its platform for crypto traders. The trading software is intuitive to use and offers access to a vast number of markets. The software is mobile-supported on both Android and iOS. Plus is a great broker to choose for quality as well as to gain access to various markets.
Their platform is great for transitioning to Bitcoin trading. Read the Plus review. Choose your Bitcoin broker wisely. Consider all the options available before jumping in.
Armed with the inofrmation provided by the above guide, you will be a step closer to mastering Bitcoin trade. Bitcoin is the best-known cryptocurrency in the world. A cryptocurrency is a form of digital currency. In that, Bitcoins are not governed by a central bank like non-digital currency. Products can be purchased online with Bitcoins, but this is largely limited for now. You can also buy and sell Bitcoins as a form of investment.
This is the essence of Bitcoin trading. Investors buy Bitcoins and hold it as an asset, much like stock. If the price for the currency goes up in the future, you can sell again and turn a profit.
Bitcoin mining requires technical know-how and serious computing power. The easiest way to start trading Bitcoins is to buy it. Bitcoins can be bought directly online. You can also speculate on its price, much like a CFD. Both methods require a broker. Just like a broker is required to buy Forex funds or gold, you will need to go through one to buy Bitcoins.
Before opening a live trading account you should ensure that the cryptocurrency broker has the markets you wish to trade. Not all brokers offer cryptos and even if they do offer some, they might not be the ones you are after so please check before opening an account.
The major disadvantage of option 2 compared to option 1 is that you will need to stump up the full amount of cash in order to buy the crypto. But not everyone knows what it is. When you trade cryptos using CFDs, you are speculating on the price movement of a crypto.
This means you can profit from both a rising market and also a falling market. So if you think the price of Bitcoin will decline, you can open a SELL trade — you will profit if the price of Bitcoin declines in value. You do not actually buy the physical asset. Profits Cryptocurrencies are extremely volatile assets — their price movements can be quick and large. If you speculate correctly, you can profit very quickly. On the flip side, if you speculate incorrectly, your entire trading balance can be wiped out in a second so please be careful.
If you are thinking about trading cryptocurrencies you need to be aware of the risks involved. Large Losses CFDs are a leveraged trading product. So you only need to deposit a small amount of cash onto your trading account in order to access significantly large trade sizes. Please beware of the risks involved before opening a trading account.
Keep reading. Put in simple terms, people who trade CFDs do not actually own the underlying asset; instead, they are speculating betting on the price movement of an asset. Likewise, if they speculate incorrectly, they will have made a loss. CFDs are a very popular trading vehicle for most types of asset classes, including cryptos. To sum up; when trading CFDs, you are betting on whether the price of an asset will increase or decrease.
As you and your broker do not own any actual Bitcoin, contracts for difference offers traders a hassle-free and simple way to generate profits on changing crypto prices. A crypto CFD broker acts as an intermediary between buyers and sellers of cryptocurrency. As of May , there are over 40 crypto CFD brokers here in Australia, all providing access to a range of cryptocurrencies. To find an honest and fair crypto broker, please review the table comparison above.
Trading with a regulated cryptocurrency broker is critical. All CFD brokers are required to state who they are regulated with, along with their registration number. If you cannot find this information easily, then be suspicious. The responsibility is on you to conduct your research and to find whether a cryptocurrency broker is regulated or not.
If the price of Ripple does indeed decline, you will make a profit. On the flip-side, a price increase in Ripple would result in a loss to a trader. Why Trade with Them? Crypto Leverage 2. Four important features to consider when choosing a crypto broker: Choosing the best crypto broker is a decision that you should spend some time deliberating over.
Trading costs Brokers make their money a number of ways; spreads, commissions, overnight financing costs, your trade losses etc. The tighter the spread the better chance you have of making a profit. Are spreads fixed or variable? Please ask your broker if they will charge you if you do not trade with them every month.