10 Best Crypto Brokers Australia – Cryptocurrency Trading with Professionals
The more straightforward way to buy and sell crypto is by using a cryptocurrency broker. In this field, the cryptocurrency brokers available in the market are several, making it hard to select the best broker. The activity of cryptocurrency investment is increasingly becoming risky due to intense market volatility. We carefully check on the best crypto brokers in Australia on this page.
Pepperstone – A Crypto Broker for Aussies with Vast Selection of Cryptocurrency
Founded in 2010, Pepperstone offers a variety of tradeable crypto markets, support for several trading platforms, and high-quality research. MetaTrader and cTrader are offered at Pepperstone, where it impresses many investors as it is suitable and conveniently suits available platforms. The minimum deposit is $200, with the site considered as one of low-risk though it is not publicly traded nor does it operate a bank. Inclusive of Forex and trade CFDs, the markets available for trading at Pepperstone are more than 1000. A minimum of 100 lots is required for any professional client in over three months to qualify for the lowest tier. The platform is equipped with several third-party options for mobile trading. The platforms have proven reliable and very easy for investors to use.
🟢 Good Customer Service
🟢 Easy & Fast Account Opening
🟢 Smooth & Free Deposit and Withdrawals
🔴 Mostly CFDs Are Offered
Swyftx – Australian Cryptocurrency Broker with Minimal Spreads
The site impresses on various choices of coins, minimal spreads, and low fees charged. In Australia, Swyftx was launched in 2018 and registered as a NZ financial service provider. The signup process is more straightforward than ever, with few legal procedures to be followed; first, you create your account using your name and personal details. Your ID verification follows your email address, mobile number, and photo ID. Once done, you make your first deposit, and by that, you are ready to start trading activities.
The platform has a wide range of coins selection, tax reports, charting, demo accounts, and a compatible mobile app. The payment options available are bank transfer with POLI and credit cards expected to be added later. They offer a low-fee over-the-counter service acting as a broker between the buyers and sellers. There are more than 280 different coins, including Bitcoin.
🟢 Bank Transfers, Debit Cards & Credit Cards to Fund Accounts
🟢 Great Customer Care Services
🟢 High-Quality Features & Recurring Trade Orders Options
🟢 Easy Declaration of Taxable Income
🟢 Variety of Cryptocurrencies
🟢 Low Fees Charged
🔴 No Margin Trading
🔴 No Derivatives Trading
Binance – The Largest Cryptocurrency Exchange for Aussies – Beginner Traders & Professionals
The company was founded in 2017 by software developer Changpeng Zhao. It is the largest cryptocurrency trading site in the world. It offers a wide range of trading features through mobile and desktop platforms. There is also a learning platform, an NFT platform, and more. In Binance, more than 365 cryptocurrencies are available while supporting a variety of fiat currencies. Real-time charting tools with moving averages and exponential moving averages are among the various trading tools offered.
The trader can use its platform to view the trade history, order books, and price charts. The chargeable fee is among the lowest in the industry. You can get fee discounts for using BNB coins in trades, referral bonuses, and reaching the vital person status. Payments options include crypto wallets, debit cards, ACH transfer, wire transfer, crypto conversion, trades, and buy/sell Crypto. Binance has reliable features to keep user accounts secure with excellent customer care services options. Order types offered include a limit order, market order, stop-limit order, stop-market order, trailing stop order, post-only order, and one cancel the other order.
🟢 Low Fees
🟢 Wide Selection of Order Types & Trading Options
🟢 Over 600 Tradable Cryptocurrencies
🔴 May Be Confusing as It Is Complex
🔴 Has Run into Regulatory Troubles
eToro – Well-Known & Reputable Crypto Broker for Australian Investors
eToro is a multi-asset cryptocurrency trading platform with over 3000 tradable symbols, including Forex, trading crypto CFDs, and regulated exchange-traded securities. It was founded in 2007 and is considered low-risk. eToro makes the trading cryptocurrency activity easy and smooth for the traders with its social copy trading platform capabilities. It has a VIP club called eToro club with five tiers of membership that range from silver to diamond.
The tiers are for traders who retain a balance ranging between $5,000-$250,000 and feature varying benefits depending on membership level. Traders pay a fixed fee of 1% for each buy and sell position on each trade side, while converting from crypto to crypto at eToro costs 0.1%. It has an excellent mobile experience that is easy to use while delivering all required features. The two eToro mobile apps, the eToro App, and eToro Money, are available on Google Play and the App Store. The charting experience is excellent, just like the other mobile apps, even though there are five indicators on the web 67.
🟢 Safe & Low-Risk Broker
🟢 Excellent for Trading & Social Trading
🟢 User-Friendly & Easy to Navigate
🟢 Variety of Trading Tools Are Available
🔴 Slightly Pricier than Most of Its Competitors
🔴 Automated Trading Strategies Not Supported
Coinmama – Great Crypto Exchange for Aussies to Buy and Sell Cryptocurrency
Coinmama offers advanced traders convenient buying and selling options. The platform does not offer many complicated trading features, making it simpler to use in exchange. During new member registration, there are user verifications to avoid fraudulent activities and protect the user account, thus making it a safe place for investment. It gives the user several purchase options, including credit cards, debit cards, bank transfers, Apple Pay, and Google Pay. It offers a limited selection of cryptocurrencies with just nine assets: Bitcoin, Bitcoin Cash, Cardano, Dogecoin, Ethereum, Ethereum Classic, Litecoin, Ripple, and Tezos.
Trading fees are charged depending on the percentage of each transaction. Since Coinmama exclusively deals with the crypto exchange, it does not hold user funds on its server, thus removing some of the risks the traders are exposed to. The user verification is compulsory during the signup process for additional security. Opening an account with Coinmama requires a few legal procedures before you are done. The customer service is excellent, with several users having positive things to say about Coinmama.
🟢 User-Friendly Platform
🟢 Strong Focus on Security
🟢 Longevity in the Cryptocurrency Space
🔴 High Trading Fees
Crypto.com – An Excellent Cryptocurrency Exchange for DeFi Tokens Purchases
This is the place for massive digital assets selection and relatively low chargeable fees. Crypto.com has a large variety of about 180 cryptocurrencies on its exchange with no transaction fee or competitive trading fees if you make a purchase using the money transferred from your bank account via ACH, or automated clearing house. The fee is relatively high for purchases made by credit or debit card though it can be avoided. This might be the best crypto trading platform for many traders.
The only essential feature that it lacks available to its competitors is crypto-to-crypto trading. Regardless of all this, Crypto.com is the best for tokens, decentralized finance, mobile-first users, and transactions with fiat currency. The cost of using the platform depends on how you fund your account. However, it is possible to avoid all these fees by transferring your money using ACH. Users are allowed to connect multiple digital wallets to its service, offering options for holding cryptocurrency. Chat-based customer support is offered for issues clarifications, with mailing services an option.
🟢 Large Crypto Assets Selection
🟢 Relatively Low Fees when Using Cash Transfer
🔴 No Crypto-to-Crypto Trading
Digital Surge – Modern Cryptocurrency Platform with Plenty Educational Materials
Because people in IT founded Digital Surge, their technology is top-notch. Getting started has never been easy on this site; in just about two minutes, you are done. The speed in this platform is on another level as you can do procedures very fast. The platform developer ensured that anybody could access the services without struggling and having to be floundered in your dashboard. For reliability and convenience, it has a mobile app where you can do all your operations without having to look for desktops or tablets.
No worries, the customer services at Digital Surge are excellent when having any bothering issues, with live chat and mailing a recommendable feature. Crypto experts are always ready to help you solve your issues. For diversification, it has added an option of paying bills through BPAY, which has never been before with different deposit methods. For suiting the beginners, there are articles with great tips and information about the platform. There are trading tools available at Digital Surge which can help you maximize your earnings while minimizing the effort you put along.
🟢 Quite Low Fees & Spreads
🟢 Live Customer Support
🟢 Over 300+ Coins Are Available
🔴 Staking Is Not Available
Changelly – Crypto Trading Platform with No Verification Trading Possible
Established in 2016, it has become a success by attracting over million users so far. It is ranked among the best cryptocurrency trading platforms with experienced traders. The user can easily convert several cryptocurrencies to the others on their website, whereas you can easily buy several cryptocurrencies with fiat money. It has a vast range of withdrawals and deposit methods, which is limited to depositing and withdrawing fiat money with more than 90 coins to buy and sell. The cryptocurrency buying rate at Changelly is not fixed, which means the rates may fluctuate though slightly.
When buying or exchanging cryptocurrency for another cryptocurrency, there is no set limit which is different from when one is a cryptocurrency with fiat currency where there is a set limit. For people who may like to trade without being identified, this is the place for you as there are no verifications required for one to use the exchange account.
🟢 High Limits & Liquidity
🟢 Simple & Intuitive Interface
🟢 Safe & Well-Secured Cryptocurrency Local Exchange Account
🔴 High Fees on Payments in Australian Dollars
🔴 Inability to Sell Cryptocurrency for Fiat Money
CoinSpot – Australian Crypto Broker with 300+ Cryptocurrencies for Trading
To accomplish their mission, which is to provide hassle-free services composed of everything, traders need to buy and sell cryptocurrencies. The founders of CoinSpot provided users with more than 300 cryptocurrencies to choose from. The platform is developed in a way that it can accommodate any level of trader, thus making it easy for any person. The security issue at CoinSpot is not something to bother you as everything is in place for your security and the security of your details.
It has a wide range of tools and trading options that you can access only after being verified. Cryptocurrencies can be bought or sold from various fiat options at the CoinSpot. In terms of fees charged, CoinSpot is one of the cheapest exchanges with a fee as low as 0.1% with no hidden additional fee.
🟢 Instant Buy & Sell Trades
🟢 Schedule Automatic Purchases
🟢 Is Regulated & Certified
🔴 No Margin Trading
Coinbase – A Famous Cryptocurrency Exchange That Is Ideal for Beginners
It is an investing and trading site that offers traders options to buy, sell and exchange from over 100 tradeable cryptocurrencies. For anyone with basic computer skills, trading at Coinbase is easy as it is available for access from a smartphone or an iOS mobile device where you can log in and trade.
Purchases can be made through a connected bank account or card by using the money available in your bank account directly. The customer assets and deposits are safe and secure with Coinbase. Opening an account with Coinbase is straightforward, with few legal procedures where some of your details are required for the user to be fully verified. Customer care services are officially supported, which means the user’s personal information in your trading account is fully secured from hackers and frauds.
🟢 Easy to Use for Cryptocurrency Beginners
🟢 Opportunity to Earn Cryptocurrency from the Trading Account
🔴 Frequent Issues with Personalized Customer Support
What is a Crypto Broker?
This is a firm or an individual acting as an intermediary between the cryptocurrency trading markets to enhance buying and selling of the cryptocurrencies. They offer a conducive environment for new traders in the market by providing various services like holding the Cryptocurrency of their clients.
Crypto Brokers Australia – How We Rank
Although all the crypto brokers carry out the same primary role, not all of them should be trusted or ranked as the best. Some are there for conning the traders. Thus, one should consider some factors before deciding which site to use to do your trading. On this page, we are looking at factors that one has to consider when ranking the crypto brokers.
#1 – License
When ranking best Australian crypto exchange brokers, one of the factors that you have to consider is the licensing state of a given site. Check and confirm the respectful financial authority which has licensed the platform before choosing to work with it. Different financial authorities have different regulations and conditions in their licensing process. Some of the existing crypto brokers are just set up for frauds; thus, they are not licensed under any authority, which makes it risky for one to do trading or investments with any crypto broker you come across. The more widespread and trusted a particular financial authority is, the more trusted the crypto broker is. So, to avoid many risks coming from your crypto trading activities, always consider the licensing authorities of the broker.
#2 – Reputation
A vital factor to consider when choosing the best Australian crypto exchange broker is the broker’s reputation. The crypto broker is known for the public picture of the broker and how it carries out its activities. This is very crucial to go through the user’s reviews about the company even though sometimes the reviews might be written by competitors. However, you can use Trustpilot or Reddit to read the reviews from the actual users of the platform.
You can also consider the information about the platform and the trends and updates from the company and check the history of a particular broker and the expert’s reviews. A company with users’ recommendations and higher ratings with fewer fraud issues should be considered the best. It is more probable to meet the trader’s demands and satisfy their wants as they expect.
#3 – Trading Commissions and Payments Fees
The average chargeable crypto trading fees charged to the user in every procedure or step taken on the platform should be considered before ranking the best. The best crypto brokers will usually have a low chargeable fee at a lower rate. Still, you have to be careful since some platforms say that they don’t charge anything or a low fee, but eventually, they freeze your account when you realize otherwise. The commission offered to the trader by the crypto broker after you buy, sell or exchange cryptocurrency is also necessary. You can earn more with a broker with higher commission rates and referrals fees. The higher the commission rates and the lower the payment fee are, the better the broker.
#4 – Limitations on Deposits and Withdrawals
Different crypto brokers have set different limits on the minimum amount one must deposit, and the minimum set amount one can withdraw. A new user might be willing to deposit less than the minimum set, or one might be willing to withdraw a much higher amount than the entire set. So, one should go with the broker who has a broader range of minimum and maximum set amounts for convenience. After all, a platform cannot be concluded as bad or good just by considering the range of limitations. Nevertheless, one can choose a platform that is compatible with his ability.
#5 – Payment Methods
As a crucial factor, one should always consider the payment method available on a given platform. The crypto broker with a broader range of options should be considered the best, and this goes without saying. For a better trading experience, always go with a broker who has various payment options to avoid inconvenience in particular trading activities.
#6 – Trading Volume
The trading volume of different alternatives should be checked before coming up with the best. This acts as an indicator of how popular and active a particular broker is. The broker with the highest trading volume should be ranked the best since the statistics prove that it offers the best service terms in the market. That is why many traders prefer it to its competitors.
#7 – Customer Support
This factor is as important as other factors, and this is because we regularly have issues with these platforms, and you might need an expert’s advice for you to keep going again. That is why customer support services are delicate. You need someone to turn to when you have an issue with the crypto broker. After raising your issues, you expect your service provider to respond to you effectively in a manner that you will feel aided. Also, consider how fast they respond to your issue – the faster, the better. If this is the factor, the crypto broker with the best practical customer support should be considered the best.
#8 – Leverage
For a better trading experience, a company has to offer leverage. This determines the increase in your buying power by borrowing money from the cryptocurrency exchange, thus allowing you to make spot sales or purchases of cryptocurrencies using funds exceeding your account balance. Different crypto brokers offer different leverage; thus, one must check the minimum leverage applied before choosing the best.
Cryptocurrencies – Advantages and Disadvantages
Most people might never have had a chance to experience cryptocurrency trading. Therefore, let’s check on the advantages and disadvantages one might get by doing cryptocurrency trading.
Advantages of Cryptocurrencies
|Personal information privacy and high security||During the signup process in many crypto brokers, one has to do some account verification process about your personal information. This information which shows your complete identifications, might be sensitive when acquired by the wrong party. This is why you have to trade with cryptocurrencies since your information is fully secured from access by third-party and, by so doing, secure your privacy. Some companies do not require verifications; thus, one can trade being anonymous.|
|Payment fees are relatively low||As for many of us, one factor that we will consider before joining something is the chargeable fee. There are different types of fees chargeable to the user: trading, deposit, withdrawal, and margin fees. In a crypto trade, all fees chargeable to users are pocket-friendly irrespective of whether you are a beginner or a VIP.|
|Volatility – a great chance to earn||Many people join cryptos because of the high level of volatility among the assets, which gives one a great chance to cash in higher profits in a few minutes. So, there is a high probability of significant upward and downward movements in the crypto trade over a brief period. The volatility rate in different companies varies. If you are lucky enough to do the trading during the upward movement, you can earn very high profits.|
|No government influence||Unless in fiat transactions, the government cannot interfere with any cryptocurrency trade, thus giving it exceptional trading freedom to the traders and the service providers. This means that you can do your willing deposits and withdrawals, and nobody will know about it, meaning that there is no taxation of your money. This makes crypto trading even more reliable for traders.|
|No geo limitations||Cryptocurrencies do not have any geographical restrictions. Therefore, they can be sent or be received from or to anybody across the globe with equal speed and transaction fees. This impresses many crypto traders, making them prefer working with cryptocurrency.|
Disadvantages of Cryptocurrencies
These are the drawbacks one might experience through their journey as a crypto trader. Everything has its dark side.
Volatility – a great chance to lose
Because crypto rates might go significantly low in a brief period, one might go at a tremendous loss, which might be a disadvantage of making the cryptocurrency exchange trade as it involves significant risks. However, this should not make you not see the brighter side of the crypto trade. Before doing any crypto trade transactions, you better first do some analysis to gather some basic information to avoid significant losses in the crypto trade.
Fees Charged by Crypto Brokers
To be able to select the best crypto broker to trade with, you have to know the expected chargeable fees by each crypto broker and consider them appropriately. The fee charged varies among different brokers. Choose the one with the lowest. Let us check on the types of fees one can be subjected to.
This is the amount charged based on the value of the exchange done or the trade activity being carried on. Mostly, the trading fee is charged at a special rate depending on the earnings. Some crypto brokers’ charges are as low as 0.1% per trade done.
Similarly, some cryptos might impose higher rates; therefore, one should consider the company with the lowest rates. The charges might be lowered depending on the volume of trade done or the coin used since most crypto brokers favor local coins.
Some crypto brokers might charge the money deposit fee to the users wanting to trade crypto. However, the best brokers do not charge a penny during the money deposit transaction and with different payment methods.
The same as trading fees, deposit fees are charged at rates mainly when the trader uses the debit card for the deposit or the credit card, which might be even higher in some crypto brokers, which will eventually be an advantage to the crypto broker. The user should use a crypto broker that does not charge deposit fees for you to use your preferred payment method.
These are the fees charged to the users who trade crypto after making an inevitable withdrawal. The fees charged are usually fixed and are available for view on the broker’s website.
Some crypto brokers charge a low fee while others charge extremely high withdrawal fees but the best crypto brokers charge nominal fees for all the transactions done. This means that the higher the amount you will withdraw, the higher the withdrawal rate you will be charged.
These are the fees charged depending on the total value of the amount, which is extended as margin to affect the margin trade.
The marginal fee is not generally charged by every crypto broker, selective few charge it. Therefore, it can be avoided by the client wanting to trade crypto by using crypto brokers who do not charge the margin fee.
Are Crypto Brokers Legal in Australia?
Cryptocurrencies and crypto exchanges are exclusively legal in Australia, with their governmental laws and regulations also being progressive. This means that the cryptocurrency trade in Australia is subjected to Anti-Money Laundering and counter-terrorism Financing Act 2006; therefore, the currencies are treated as property subjected to capital gains tax actions in Australia by the government. Australia’s goods and services tax had previously subjected cryptocurrencies to controversial double taxation, which later on came to change for more good acts, thus showing a different approach to the cryptocurrencies trade by the government of Australia.
The government body in charge of these regulations in Australia requires the entities acting as exchanges or providing registrable exchange type services to verify and identify their customers and maintain those records, thus complying with the government reporting obligations. The Australian Securities and Investments Commission issued some regulatory requirements for cryptocurrency trading and initial coin offerings in 2019. With the emergence of the de-banking trend, which came from compliance fear, AUSTRAC clarified that banks are not supposed to terminate their business relationships with a cryptocurrency exchange.
With the chief executive considering such technology advancement significant for the growth of the Australian business sector, a clarification was welcomed by the Australian Digital Currency Commerce Association. The regulatory approach to cryptocurrency in Australia has been proactive. The Authority has pointed out that the risk remains by issuing a warning that about 400 currency exchanges operating in Australia were not endorsed as safe for the investors by the regulators.
Top Cryptocurrency Exchange Apps and Features Available for Android & iOS
Nowadays, most people are carrying out cryptocurrency trading to cash in passive income. Crypto traders are increasing each day, making the industry grow more rapidly. Several traders, especially beginners and also some experienced traders, use their phones to carry out transactions on the compatible mobile apps set by the sites with advanced trading tools. The more advanced or more experienced traders may use the desktop apps that are also available.
The crypto exchanges in Australia trading can be carried out by an individual, group of traders, financial companies, and other institutions. The best crypto apps should be set so that they can satisfy all the user requirements by being reliable at a lower cost, allowing users to carry out all their activities like buying, selling, and exchanging currencies through the phone. Different apps have different features depending on what the platform offers to the user. These features include allowing deposits, peer-peer trading, fees and commissions, verifications procedures, and different payment options. One has to choose an app that has convenient features for you to carry out efficient crypto trade by offering options like place marking orders for the fee reduction.
The best cryptocurrency mobile apps for conducive trading have low chargeable fees and allow diverse options to the user.
|Crypto.com||✓ Fund Transfer Between Two Apps|
✓ Spots Market Charts
✓ Management of Trading Orders
✓ Market, Limit, Stop Limit Orders
✓ Management of Spot Wallet
✓ Verification of Your Account
✓ Referral Program
✓ Over 250 Cryptos Supported
✓ DeFi and NFT Tokens
|Android & iOS|
|Coinmama||✓ Multiple Payment Options|
✓ High Spending Limits
✓ Fast-Tracking Verification
✓ Variety of Cryptocurrencies
✓ High Daily Limits Using Credit Cards
✓ Instant Crypto Purchases
|Android & iOS|
|Binance||✓ 600+ Coins & Tokens Supported|
✓ Credit Card & Wire Transfers
✓ Relatively Low Fees Charged
✓ Peer-to-Peer Crypto-to-Crypto Trades
|Android & iOS|
|Coinbase||✓ 100+ Coins & Tokens Supported|
✓ No Limits for Crypto & Wire USD Deposits
|Android & iOS|
|eToro||✓ Convenient Chatting Feature|
✓ Technical Indicators Variety
✓ Great Customer Support
|Android & iOS|
Crypto Brokers in Other Countries
- Crypto Brokers USA
- Crypto Brokers Nigeria
- Crypto Brokers Singapore
- Crypto Brokers Kuwait
- Crypto Brokers UAE
Cryptocurrencies trade in Australia has become a norm as many traders have been trading using the variety of crypto markets brokers in Australia. Cryptocurrency trading platforms like Bitcoin exchanges are one of the most profitable financial activities across the globe. One can quickly join at a low affordable fee and start buying, selling, and exchanging cryptos.
Crypto Brokers in Australia in 2022 – FAQs
🤑❓🇦🇺 Is crypto regulated in Australia?
Yes. Australia’s existing financial services regulatory regime regulates the sale of all digital assets and cryptocurrencies.
🤑❓🇦🇺 How to start crypto trading with brokers in Australia?
The first step is to open an account with the crypto broker you trust by going through the legal procedures. Secondly, you have to deposit. Then, buy cryptocurrency and start trading.
🤑❓🇦🇺 Do Australian crypto exchanges charge fees?
Yes. Australian crypto exchanges charge fees depending on the customer’s trading volume. Fees for deposits and withdrawals are changed based on the amount and payment method.
🤑❓What is the best crypto broker in Australia?
There are several good crypto brokers in Australia competing to be the best. The best crypto broker in Australia gives its clients access to the most innovative digital currency market, with a robust customer support system and professional assistance from experienced traders. It also offers an easy way to buy and sell cryptocurrencies at competitive rates.