Due to its unique features, Bitcoin gains a lot of popularity as a payment method and trading asset. These are some of the best Australian brokers that support Bitcoin.
Since its initial launch by the mysterious Satoshi Nakamoto, Bitcoin's popularity has skyrocketed. Now, it is one of the most popular instruments to trade apart from being an online payment method as well. The success of Bitcoin has inspired many companies to launch their own cryptocurrencies, so we have thousands of crypto products in the market today. Yet, the popularity of Bitcoin has never been overshadowed. How so?
Contents
Benefits of Using Bitcoin
As a decentralized product, Bitcoin was designed to give unique advantages for its users. For example, since it wasn't issued by a central bank or government system like fiat currencies, it won't be affected by political changes. That makes Bitcoin one of the best assets to trade during economic releases. Theoretically, this means Bitcoin has better user autonomy because its price is not linked to specific government policies. The owners are the ones in control of their own assets. Here are some other factors why you should consider trading Bitcoin.
Pseudonymous
A lot of transactions require information of some sort to identify the person conducting the transaction, but that's not the case with Bitcoin. It's not completely anonymous, but transactions can be identified only by using a blockchain address. However, an individual might have multiple addresses, just as they can have multiple usernames and passwords for a single account. While this can protect you during the process of a transaction, it also has some risks. It might be hard if you get scammed and want your crypto money back. Especially because Bitcoin has no way of returning it should it be 'stolen'.
Low Fees
Bitcoin is often considered one of the 'cheapest' payment methods. As there's no intermediary needed, transfer fees are almost non-existent. Nevertheless, brokerages might have different rules regarding Bitcoin as a form of payment, so, paying attention to terms and conditions issued by your broker is very crucial.
Safety
While there might be some risk with scams and hacking, Bitcoin is still one of the safest currencies to trade. Bitcoin is not a physical currency, so it is impossible for thieves to palm it off the holder. With a proper security system, it's possible to protect your asset from hackers. Otherwise, you can also learn to notice the red flags of crypto scams.
Where To Find Brokers That Support Bitcoin
There are plenty of brokers that support Bitcoin nowadays. Some might support Bitcoin trading, while others go all the way to accept Bitcoin deposits. Luckily for Australian traders, ASIC has regulated some of the best brokers that support Bitcoin trading as well as payments. Here are some of them.
IC Markets
Cryptocurrencies like Bitcoin are highly volatile assets, which is why you need a good brokerage like IC Markets. Here you can trade crypto CFDs where there is no central bank intervention, interbank dealers controlling order flow, or giant pension funds moving prices. You can long or short without actually holding the cryptocurrency, so there is no need to worry about security risks like hacking or scams. Keep in mind that this ASIC-regulated broker has a particular time to trade cryptocurrencies. On Saturdays between 17:00 – 00:00 server time, cryptocurrency trading will not be available. However, trading on cTrader will remain available 24/5.
There is more than just crypto trading on IC Market's cTrader. This multi-assets brokerage is also known for offering raw pricing on this platform. That means you will have a better price for every asset available, not limited to cryptocurrency only. The IC Markets cTrader server is located in the LD5 IBX Equinix Data Centre in London, so low latency and fast executions to keep up with highly volatile markets like Bitcoin are ensured. There will be no restrictions in trading, so scalping and hedging are allowed.
IC Markets is an online forex broker operating under the company of International Capital Markets Pty Ltd. Traders under the Australian jurisdiction are provided with the trading service of IC Markets AU that is headquartered in Australia and licensed by the Australian Securities and Investments Commission (ASIC).
On the other hand, non-Australian traders who open an account in this broker are registered under IC Markets SEY that is based in Seychelles, and regulated under the Seychelles Financial Services Authority (SFSA). The dual operation is a result of the relatively new rules from ASIC that prohibit their regulated broker to offer trading services outside Australia.
Classified as an ECN broker, IC Markets provide clients with MetaTrader 4, MetaTrader 5, cTrader as platform trading options. This broker also follows market trends to include Cryptocurrencies as one of its products, enriching its already wide selection of trading assets that include Currencies, Indices, Metals, Energies, Softs, Stocks, as well as Bonds.
The minimum deposit in IC Markets is in the middle range compared to other ASIC-regulated brokers, as it reaches $200 for every client. Market analysis materials are also prepared regularly for trading insights on IC Markets's official website, proving their competence to serve their traders with important contents created by market experts that work specifically for them.
For payment methods, IC Markets allows funding and withdrawal via wire transfer, credit card, PayPal, Skrill, Neteller, FasaPay, UnionPay, as well as Bitcoin via BitPay. The more interesting aspect from this broker is its multi-base currencies that include USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.
As the trading technology in IC Markets is highly equipped with co-located servers and extremely low latency (especially on cTrader), the broker is widely known for its capability in hosting traders with the special needs for high-frequency trading as well as scalping.
To sum up, IC Markets is a fitting destination for active traders looking for a well-regulated broker. IC Markets is also flexible in terms of base currency and payment methods, signaling their commitment to welcome traders beyond their home country. As of late 2019, IC Markets provided their website in 18 international languages including English, Korean, Indonesian, French, Spanish, Italian, Malay, German, and Chinese.
FXOpen
FXOpen is a true ECN/STP Broker that supports Bitcoin. Aside from being regulated by ASIC, FXOpen is also a member of The Financial Commission. Their ECN account offers low-cost trading with spreads starting from 0.0 pips and a commission of $1.50 per lot. They promised no fixed spreads or additional pips added. Your trade will be instantly executed through their wide range of liquidity providers if you choose to apply for free VPS for enhanced trading flexibility and speed.
There are around 100+ markets offered in FXOpen, including forex, indices, oil, gold, and cryptocurrency CFDs. There are plenty of funding options available in FXOpen, from good old online banking options to Bitcoin. You can also deposit using other cryptocurrencies such as Ethereum, Litecoin, Tether, Emercoin, and Bitcoin Cash. These options are not limited to deposits only but are also applicable for withdrawals as well.
FXOpen started its operation as an online trading provider for retail clients since 2005. The company was founded by a group of traders with a mission to provide services that refer to the interests of traders. FXOpen claimed to be one of the firsts to offer ECN trading via MetaTrader 4 (MT4). With FXOpen's unique proprietary price aggregating technology, their clients can benefit from the industry's most competitive spreads (from 0 pips) and low trading commissions.
In 2006, FXOpen also became the first broker to offer a micro account and a swap-free account. After that, they continue to be the pioneers of several new and high-tech services, including the first Crypto account that can provide trading facilities on 24 Cryptocurrency pairs such as Bitcoin, Litecoin, and Ethereum.
Furthermore, the company provides One Click Trading and Level 2 MT4 plug-ins, enabling traders to place trades with just one click of the mouse. Traders do not need to worry about trading security at FXOpen. They have registered in Nevis, the UK FCA, and ASIC Australia.
A variety of trading accounts are provided such as STP, Micro, ECN, and free unlimited demo accounts. The minimum deposit for each account depends on the account type; USD1 in Micro Account, USD10 in STP and Crypto Accounts, and USD100 in ECN Accounts. As for leverage, FXOpen offers up to 1:3 (for Crypto Accounts), and up to 1:500 (for Micro, STP, and ECN Accounts).
Besides, traders can enhance their trading capabilities with Myfxbook and Zulutrade automated trading systems. Both of these services allow anyone to copy the transactions of experienced traders. Thus, traders can replicate the results of professional traders' strategies.
The FXOpen PAMM Service allows copying trades from a Master account to one or more than one Follower account and automates the distribution of profits and losses. The Master operates personal capital through a PAMM account, and his trading strategy is replicated to the Follower's capital. The owner of the Follower account can view and analyze the performance of the PAMM account with the help of advanced analytics. There are 3 PAMM accounts in FXOpen, namely STP, ECN, and Crypto PAMM.
On ECN accounts, traders will get direct price quotes from leading liquidity providers, including Dresdner, SG Paris, Standard Chartered, Barclays Capital, Bank of America, CRNX, JP Morgan, Morgan Stanley, Deutsche Bank AG, RBS, CITI, and UBS. This is one of the reasons why FXOpen's ECN account has become a trader favorite.
After seeing the various advantages offered by FXOpen, traders can easily register an account, simply by filling out the form in the registration menu on the FXOpen website. Traders will be asked to verify documents in advance if the trader will make a deposit or withdrawal of funds. Based on traders' experience and information since FXOpen was founded, there have not been any major complaints about payments (depositing or withdrawing funds) from clients.
Once registered with the FXOpen broker, traders also have the opportunity to get other benefits. One example is the FXOpen cashback program for the first 90 days from registration as a new client. The minimum cashback is USD5 and the maximum is USD1,000.
Furthermore, free VPS is available for ECN, STP, and Crypto account holders. Traders can use FXOpen VPS without any fees for 1 month if they can maintain equity of USD5,000 at the end of the month or trade with a trading volume of USD10,000,000 per month. The advantages of VPS on FXOpen are excellent accessibility, flexibility, and speed.
Trading on FXOpen is made easier because traders can add insight into trading by entering contests. FXOpen Broker offers weekly and monthly trading contests on demo accounts through the ForexCup.com site. Traders can join competitions that are free of charge to hone their skills. If a trader wants a bigger challenge, there is also a trading contest on a real account.
The company also offers Forex partnership programs to traders, Forex brokers, and website owners who publish information about fiat and crypto-currency trading. There are 3 types of partnership levels, including Forex IB (Forex Agent) that attracts new clients to FXOpen using a referral (affiliate) link, Forex Rebate, and individual partnership conditions.
In Conclusion, FXOpen is a well-rounded forex brokerage for traders with a desire to try various trading instruments, a trading environment in ECN account, low minimum deposits, the best cryptocurrency trading condition, as well as interesting trading features like PAMM and demo contests.
Pepperstone
Pepperstone is an ASIC-regulated broker that supports Bitcoin. This broker claims to have fast executions and a 99.9% fill rate, as well as no-dealing desk intervention. You can get access to one of the best trading platforms anywhere you go since Pepperstone uses MT4, MT5, and cTrader that are available on Windows and Mac OS for desktop, iOS, and Android. This broker is widely known for its cryptocurrency CFDs and has made it possible for traders to trade crypto instruments without the need for a digital wallet.
Pepperstone was founded in 2010 by a team of experienced traders with a shared commitment to improve the world of online trading. Based in Melbourne, Australia, they grew to become one of the largest forex brokers in the world. If traders want to find a broker that provides low spreads, fast execution, and award-winning support, then the answer is Pepperstone.
Pepperstone has a strong legality guarantee because it has been licensed by the Australian regulator ASIC and FCA. Traders' funds can be deposited in segregated accounts at top Australian banks, one of which is the National Australia Bank (NAB). Therefore, the safety of funds is not a concern if a trader chooses to open an account in Pepperstone.
They succeeded in collaborating with 23 top banks to bring Bid to investors instantly via optical fiber. This allows all orders to be executed 100 percent automatically with low latency up to 0.05 milliseconds, without dealing desk intervention and requotes, as well as with super low trading costs.
Trusted by over 73,000 traders around the world, Pepperstone processes an average of USD12.55 billion of trading volumes every day. Because of that, they have many awards such as:
- The Best Global Forex ECN Broker 2019 and Best Forex Trading Support-Europe
- Best Australian Broker and Best Trading Platform 2018 by Compareforexbrokers.com
- Best Forex ECN Broker, Best Forex Trading Support, and Best Forex Trading Conditions by UK Forex Awards 2018
With the many rewards gained, Pepperstone hopes to attract more and more traders from all over the world. The rising performance of Pepperstone is not only due to the super-tight spreads and fast execution that it provides, but also because many traders are interested in trading with deposits in currencies other than US Dollars.
For this reason, Pepperstone is one of the most market-responsive brokers because it is willing to accept deposits in 10 currencies, which include AUD, USD, EUR, CAD, GBP, CHF, JPY, NZD, SGD, and HKD.
Trading in Pepperstone would allow traders to choose between 11 trading platforms: MT4 for desktop, MT4 Mac, MT4 iPhone, MT4 Android, MT4 iPad/Tablet, MT5, WebTrader, cTrader WebTrader, cTrader cAlgo, and cTrader Mobile. The choice of trading platforms may seem confusing to novice traders, but actually, it is very useful because it has fast execution.
When trading forex, traders can enjoy raw spreads from 0.0 pips on Razor accounts, over 61 currency pairs, and commission-free account funding on a wide range of deposit options. In addition to currency pairs, Pepperstone provides many types of trading instruments, including CFDs for indices and shares, commodities, and cryptocurrencies.
Instruments in commodity trading are pretty much diversified. Not only metal, gold, and silver, but traders can also trade with soft commodities such as cotton, sugar, coffee, cocoa, and orange juice. Pepperstone also provides trading on energy (oil and gas).
There are two types of accounts provided by Pepperstone, namely Razor accounts, and Standard accounts. If you area beginner, it is recommended to choose a Standard account with an average EUR/USD spread of 1.0-1.3 pips and free commission.
Those with particular trading styles such as scalpers and algorithmic traders may enjoy the lower cost setup traditionally seen in a Razor account, with a commission from AUD7 round turn of 100k traded. You can start trading with a minimum lot of 0.01 (micro) and 1:400 leverage.
As a Pepperstone client, a trader can fund and withdraw with alternative methods including Visa, Mastercard, POLi internet banking, bank transfer, BPay, PayPal, Neteller, Skrill, and Union Pay.
If you are new to trading or looking to practice your trading strategies in a risk-free environment, you can create Demo Account in Pepperstone. But if you are an experienced trader or prefer to learn by doing, Pepperstone provides a Live Account that allows you to trade with live executions and pricing.
Traders can also follow and copy strategies from popular traders using third-party services while learning how to improve their trading abilities. Pepperstone has partnered with a range of social trading platforms that traders can choose from, such as Myfxbook, ZuluTrade, Mirror Trader, MetaTrader signals, and Duplitrade.
ThinkMarkets
ThinkMarkets provide access to trade with a broad range of markets, including forex, indices, and of course cryptocurrencies. They provide fast and reliable order execution due to their partnership with Equinix. ThinkMarkets traders will gain access to advanced platforms like ThinkTrader, MetaTrader 4, and MetaTrader 5.
In addition to Bitcoin trading, the company adds account funding via BTC, as well as other cryptocurrencies such as Ethereum, Stellar, Litecoin, and many more. It's also possible to trade with institutional pricing without any added mark-up by the broker in exchange for a small commission fee.
As a multi-asset online brokerage, ThinkMarkets present a wide range of trading assets starting from Forex to Precious Metals, Commodities, Indices, Shares, and Cryptocurrencies. The Australian-based broker is established in 2010 and has since opened additional headquarters in London and regional offices throughout Asia-Pacific, Middle East, North Africa, Europe, and South America.
Along with its history operation, ThinkMarkets has been awarded and recognized many times in various aspects. Most recently, they won the Best Value Broker in Asia at the 2020 Global Forex Awards.
Average FX spreads for traders opening an account in ThinkMarkets start from 1.2 pips for the standard account, while ThinkZero provides the best trading experience with 0.1 pips spread. Still, traders may need to consider that ThinkZero applies commission from $3.5 per side for every 1000,000 trading volumes.
As a global online brokerage, ThinkMarkets operates under various financial regulatory institutions. For example, ThinkMarkets Australia is managed by TF Global Markets (Aust) Limited and is licensed by the Australian Financial Services as well as the Australian Securities and Investment Commission (ASIC) with ABN: 69158361561. ThinkMarkets UK is registered under the Financial Conduct Authority (FCA) by the company name of TF Global Markets (UK) Limited (number: 09042646).
ThinkMarkets consistently try to improve their trading environments with various advanced products. Automatic trading fans are provided with free VPS Hosting, while passionate traders who'd like to experience beyond MetaQuote platforms can try ThinkMarkets' proprietary platform called ThinkTrader.
The trading platform is available on 3 different interfaces specifically designed for Web Desktop, Tablet, and Mobile displays. Furthermore, customized tools such as 80+ drawing tools and more than 125 indicators for technical analysis accessible even through Mobile screens would certainly provide a brand new trading on-the-go experience.
As far as market updates go, trading in ThinkMarkets would be accompanied with news from FX Wire Pro that is known for its strict policy toward upholding objective journalism and delivering critical, trusted information in real-time. Information segments covered by FX Wire Pro include Economic Commentary, Technical-level Reports, Currency and Commodities, Central Bank Bulletins, Energies and metals, together with Event-driven Flashes.
For payment methods, ThinkMarkets offer the gateway via bank transfer, credit card (Visa and MasterCard), Skrill, Neteller, POLi internet banking, BPay, and Bitcoin wallet.
All in all, it is safe to say that for a company that started business since 2010, ThinkMarkets is an accomplished broker in terms of legal standing and innovation in trading technology. As an additional safety assurance for traders, this broker underlines its commitment to provide a $1 million insurance protection program which is made possible by ThinkMarkets' insurance policy with Lloyd's of London that protects clients' funds for up to $1 million in the unlikely event of insolvency.
HF Markets
As an award-winning brokerage, HF Markets is known to provide competitive trading conditions to clients by allowing both scalpers and expert advisors unrestricted access to its liquidity. There are a lot of methods on how you can fund your account, including with Bitpay. With only $5, you can start trading with this ASIC-regulated broker. There are at least 1200 trading instruments you can get your hands on such as forex, shares, commodities, ETFs, and cryptocurrency CFDs as well.
HF Markets is an award-winning forex and commodities broker. Established since 2010, the company provides trading services and facilities to both retail and institutional clients. For more than 9 years in business, HF Markets has around 1,500,000 live accounts opened and 200 employees globally.
Based on its services, HF Markets can be regarded as middle-class category. Clients do not need to prepare a big deposit for joining to trade with this broker. Also, there are various account types, trading software, and tools to facilitate individuals and institutional customers to trade forex and CFD online.
HF Markets is a registered brand name of HF Markets (Europe). Based on the location, the company is regulated by various financial regulators. Here are the details:
- HF Markets (SV) Ltd, registered in St. Vincent & the Grenadine as an International Business Company with the registration number 22747 IBC 2015.
- HF Markets (Europe), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) with Licence Number 183/12.
- HF Markets SA (PTY), is authorized and regulated as a Financial Service Provider (FSP) by the Financial Sector Conduct Authority (FSCA) in South Africa, under license number 46632.
- HF Markets (Seychelles), incorporated under the laws of the Republic of Seychelles with registration number 8419176-1, regulated by the Seychelles Financial Services Authority (FSA) under Securities Dealer Licence number SD015.
- HF Markets (DIFC) Ltd, authorized and regulated by the Dubai Financial Services Authority (DFSA) under license number F004885.
- HF Markets (UK) Ltd, authorized and regulated by the Financial Conduct Authority (FCA) under firm reference number 801701.
If traders have more experienced, knowledgeable, and sophisticated trading environment, they can join to become Professional Clients, who can manage and assess their own risks. For that reason, these kinds of clients are granted access to more favorable rates but afforded lesser regulatory protections than retail clients.
Trading with HF Markets can enable traders to access a variety of trading instruments like CFDs on Forex, Cryptocurrencies, spot metals (gold, silver, and others), energies (oil and gas), commodities (such as coffee, copper, and sugar), indices, bonds, and popular shares such as Google, Apple, and Facebook.
HF Markets offers some of the tightest spreads in the market, starting from 0 pips in Zero Account. This broker quote major foreign exchange currency pairs to five decimal places. Therefore, traders have the opportunity to get more accurate pricing and the best possible spreads.
HF Markets receives numerous highly prestigious titles, including the huge honor of being ed to join the ranks of the World Finance Top 100 Global Companies. Others are Best Client Funds Security Global by Global Brands Magazine, Best Global Forex Copy Trading Platform by Global Forex Awards 2019, Fastest Growing Forex Broker Mena 2019 by International Business Magazine, and many more.
After opening an account in HF Markets, traders will obtain various forex trading platforms to accommodate all of their trading demands. Whether traders like to trade on desktop or prefer to trade on-the-go, they can use MetaTrader 4 on desktop (terminal, multi-terminal, and web terminal) and phone (iPhone, iPad, and Android).
Clients' funds are held in segregated accounts. Only major banks are used by Markets because they believe that successful traders have to give their full attention to their trading rather than worrying about the safety of their funds.
Traders do not need to worry about transaction fees when depositing and withdrawing. Transaction fees are not charged, and diversity of payment methods enable them to choose between Wire Transfer, Bank Card, and online payments (Neteller, iDeal, Sofort Banking, and Skrill). HF Markets ensures that traders make fast transactions 24/5 during the standard hours.
Traders can earn extra income by joining the affiliate program offered by Markets. Clients who join this program will get some advantages, such as 60% of Net Spreads based on the volume traded by sub-clients, up to $15 per a lot of net revenue, and many more. More information about HF Markets can be obtained on their official website which is supported in 27 languages.
From the review above, it can be concluded that HF Markets is one of the award-winning forex and commodities brokers. There are various account types traders can choose in HF Markets, and the broker itself becomes a favorite among traders for its low spreads. This condition is very suitable for traders with limited funds and a desire to get more opportunities to gain maximum profit.
AvaTrade
If you are looking for an ASIC broker that supports Bitcoin CFD trading, AvaTrade can be one of the best candidates. For new traders, AvaTrade also presents great educational content with a step-by-step guide, tutorial, as well as ebooks. For mobile traders, AvaTrade has created the AvaTradeGo app to access your account anytime. You can also choose to use AvaProtect, a unique feature that reimburses you for losing positions.
Another feature that you might want to consider in AvaTrade is its copy trading platform. This brokerage offers you great choices from some of the most well-established copy trading services. They also collaborate with signal providers to get you market alerts and trading notifications. In addition to that, AvaTrade also has its own copy trading platform called AvaSocial to connect you with other traders as well as automate your trades.
Avatrade can be called one of the most well-rounded brokers that support almost all trading styles. Not only allowing hedging, scalping, and expert advisor (EA), Avatrade also completes their service with One-cancels-the-other order (OCO) and AutoTrading in many variants of automated trading systems.
AvaTrade was founded in 2006, with the primary mission to empower people to trade with confidence. If traders are still confused about what is the best broker for supporting trader's trading, AvaTrade perchance option of traders, because it has been evaluated and honored for some of the industry's most remarkable financial and technological achievements that it provided to clients.
In 2019, the Dublin-based broker got achievement from Daytrading.com as The Best Forex Broker 2019. Besides, the company is honored as Best Forex Broker, Best Bitcoin CFD Trading Provider of the year, and Best Affiliation Programme in the European area.
Furthermore, for traders who have high mobility, AvaTrade provides many platforms that allow traders to trade using laptops and mobile phones. The availability of the free Autochartist tool in the platforms is the best support for both novice and experienced traders because it makes it easier for them to find trading opportunities without the need to glance at charts all day.
The Autochartist free signal is provided in Gold Account, Platinum Account, and AVA Select. By opening an account in AvaTrade, traders don't have to pay for getting a full Autochartist service. Autochartist itself is a market scanner tool that can detect trading signals from various technical perspectives.
Traders can access AvaTrade in many variants of platforms, such as AvaTradeGO, MetaTrader 4, MetaTrader 5, Automated Trading, Mac Trading, Web Trading, Mobile Trading, and AvaOptions.
In terms of regulation, AvaTrade is regarded as a superior broker because it has a lot of credible licenses. That way, even with deposits of up to ten thousand dollars, security can be guaranteed. Applying the Segregated Account system, AvaTrade is regulated by the Central Bank of Ireland (No.C53877), ASIC Australia (No.406684), JFSA Japan (No.1662), and South Africa (FSP 45984).
Can traders lose more than their deposit abruptly in the event of high volatility? AvaTrade explicitly answers no, as traders have negative balance protection.
With a minimum deposit of USD100, AvaTrade offers various leverage depending on the trading instruments; whether it is forex (starts from 30:1), indices (starts from 20:1), commodities (starts from 5:1), ETFs (starts from 5:1), or cryptocurrencies (starts from 2:1).
AvaTrade has committed to a set of values in relation to customers. Therefore, the company provides the best trading experience, offering multilingual customer service and the most sophisticated and user-friendly trading platform.
New traders can also learn forex trading in the Education tab on AvaTrade's official website. Traders will find a wide collection of articles, video tutorials, and more tools that will assist them every step of the way. It is an important requirement as the forex market might be a bit overwhelming and even scary at times, so traders need to make sure that they are fully prepared to begin trading in the real account.
There are many types of account types provided by AvaTrade. There is also an Islamic Trading Account, which is uniquely provided for Muslim Traders. Islamic account type is similar to a regular one with one key difference; it is not subject to any special fees or interests (swap-free), which sits well with the finance principles of Sharia Law.
If traders have felt confident for forex trading, traders can choose AvaTrade as an ideal choice. The minimum deposit and various platforms offered to make it a suitable destination for even beginners who would like to try forex trading for the first time.
FP Markets
In FP Markets, you can trade across more than 10,000 CFD products including forex, shares, metal, and cryptocurrencies. Besides Bitcoin, you can gain access to other crypto products as well, for example, Ethereum, Ripple, Bitcoin Cash, and Litecoin. FP Markets offers more than 10 flexible funding options via bank transfer, credit & debit, PayPal, broker to broker, and many more. This brokerage doesn't charge any deposit fees and will cover internal bank fees for all international deposits.
Keeping positions open overnight won't result in the overnight/rollover fee reducing your earnings, so you don't have to worry about it. FP Markets offers the most competitive swap rates in the industry by introducing Swaps Points in the form of a live swap rates list on the MT4 and MT5 platforms. Here are some examples:
- ACWI: -5.00 for long positions and -2.50 for short positions.
- ADAUSD: -20.00 for long positions and -20.00 for short positions.
- AGG: -5.00 for long positions and -2.50 for short positions.
After Thoughts
Bitcoin has a lot of benefits both as an asset and as a payment method. No wonder more and more services accept Bitcoin as a currency. Bitcoin is considered one of the safest currencies since it's running on the blockchain. In trading, the existence of Bitcoin is even bigger than ever. Nowadays, there are a lot of ASIC brokers that support Bitcoin. While some only support this crypto product as an instrument to trade with, others also accept it as a funding option.
10 Comments
Jan 14 2022
Feb 5 2023
Franco: I was actually going to invest in bitcoin, but I had to postpone it due to lack of funds. As you can see, 1 Bitcoin is very expensive and mining requires very high electricity bills and a large amount of money to buy a supercomputer to process Bitcoin's algorithm.
That's right, I almost gave up until you mentioned CFD Crytpo where you can trade without owning an asset. That means you can get profit during high price or low price. I mean, why the CFD trading can do that? For example, Bitcoin can only be bought at a low price and sold at a higher price for a profit, that's the market law, right>
I think it's intended. But how can you trade cryptocurrencies without assets?
Feb 5 2023
James:
Why can you trade assets without assets?
Due to contract for difference or (CFD). All broker exchanges, including Forex, commodities, stocks, indices and even cryptocurrencies all use CFDs. With CFDs, your profit or loss is based on the value of those assets, so you are essentially trading the value of the asset. Therefore, you do not need to go to the physical market to order coins or cryptocurrencies. Just trade with CFDs
Also, thanks to CFDs, you can profit in two ways either up or down because CFDs are a valid contract for the seller (short position hoping for a bear market) and to the buyer (long position hoping for a bull market). And you can also have a facility like leverage.
You can read about CFD in here : Spread Betting VS CFD Trading
Jan 27 2022
Hi Dude,
If I live in the US how can I open an account? Do you do it through another country? Thanks
Jan 31 2022
RobVand: I don't think so, but you can use another broker that matches with the regulation in the U.S.
Feb 2 2022
IC Market wants me to open live account under the regulation of Cysec, is this regulation good? Wait for your answer.
Feb 10 2022
Vijay: CySEC is certainly a legitimate and reliable regulatory authority that follows all MiFID guidelines while regulating member firms and penalizing brokers that fail to adhere to the rules. CySEC also proactively investigates all instances of broker scams and has several online resources that help traders to report financial irregularities.
Feb 5 2023
Vinjay: It is indeed a good regulator, although many say it has a clause that seems very strict, in reality the penalty that CySEC imposes on brokers is very low. The heaviest they give is fined and it's not effective at all.
But fortunately, CySEC changed the term and has now become a trusted regulator in the EU. It is also subject to EU financial terms. It is therefore identical to another regulator but with a term that may differ from the other. Meanwhile, the best part of having CySEC brokers is their transparency. Even before CySEC changed the term, the policy of transparency was very good among other regulators. The downside of CySEC is that the term is regulated i.e. the amount required for regulation is very easy for brokers so most of them adjust from there first. You can find the CySEC information at here :
So I can say that CySEC brokers are safe to trade but you also need to know if the brokers are deceiving you or not. You can read more about the red flag broker here: Broker Red Flag : The sign that you needed to leave
Feb 5 2023
What is the difference between Bitcoin trading and forex trading? I mean of course I've heard of bitcoin trading. And after researching which brokers might be suitable for me to trade, I discovered that for crypto trading, most the leverage offered is different from Forex trading. And of course, the problem I was wondering about was the leverage itself.
I think forex trading and crypto trading have the same characteristics:
Based on these factors, I can say that Forex and broker are almost identical, but why is the leverage so small?
Feb 5 2023
Sandy: The difference is the market himself. The forex market seems volatile and with spiky price, but the cryptocurrency market is much more volatile and spikier. For example, in crypto trading you can lose all your money even with few trade entries while you can still survive in Forex.
And due to the volatility of the crypto market, brokers will of course reduce the leverage used to prevent the trader from losing all his money and also limit trading on Cryptocurrency CFD inputs.
Due to this factor, most brokers will not give you such high leverage. The average leverage you can get is 1:10 to 1:30. That's the average leverage you will get that I know.