Cryptocurrency Trading

• Digital: Bitcoin and other cryptocurrencies exist purely in the form of digital codes. There are no tangible assets to possess when you buy crypto. The foundation of these currencies are types of database called blockchain. Encryption offers a significant amount of security, but hacking threats remain.
• Regulation: As cryptocurrencies grow in popularity, regulation has so far struggled to keep pace. Many countries don't regulate their use or consider them to be legal tender. In Australia, ASIC has imposed limits on the availability of crypto products for retail clients.
• Volatility: The crypto market is arguably the most volatile market for traders to invest in and movements in price can be sudden and dramatic. This has the potential to magnify your profits – or it could have the same effect on your losses.

There are. Options such as Bitcoin and Litecoin are set up to provide a digital alternative to fiat – or payment – currencies. Others, like Ethereum, are 'altcoins'. Instead of being used as a way to pay for things, it's a platform on which you can create blockchain apps or new tokens.

Other cryptocurrency types can help you exchange crypto assets or manage personal data.

With FXOpen, you can trade more than 40 cryptocurrency CFDs*. Bitcoin and other options such as Litecoin or Ethereum are perhaps the best known. But our cryptocurrency trading app and desktop platform also offers pairs including EOS, Ripple (XRP), and Dash.

Open a crypto trader account

One of the key reasons why investors are increasingly looking towards the crypto market is the volatility. Crypto prices can fluctuate rapidly and dramatically, creating opportunities to make big gains on an initial investment. This does mean there is an increased risk too, however.

Liquidity is another reason to buy crypto with FXOpen using CFDs. Our cryptocurrency trading platform takes its prices from numerous crypto exchanges, so we can offer competitive spreads and quick execution. That can make all the difference for traders looking for rapid gains.

Don't forget, when crypto trading in Australia with FXOpen, you can access the markets all day, every day. With the MT4 platform, you can do that on any device and from any location too.

All markets are influenced by internal and external forces, and crypto is no different. The factors that can swing the crypto market include:

• Supply and demand: The price of cryptocurrencies can rise sharply if demand outstrips supply. If there is a surplus supply, the price will fall.
• Regulatory decisions: Countries are still grappling with how to regulate cryptocurrency trading. Some are even banning it outright, which is something to be aware of.
• Fiat currency markets: Much like some fiat currencies can impact the value of others, they can also drive crypto prices up or down.
• Press and media: Crypto news reports can heavily influence investor confidence, whether it's positive or negative.
• Technology and infrastructure: It's not all about the security of crypto exchanges. As crypto is integrated with more payment systems, its value will increase.

The most successful crypto traders understand what they're trading and how it works. It's also essential to have a strategy that sets out what you want to achieve and the best way to do it. By having this vision in place, you’ll be better positioned to make a profit.

After opening your cryptocurrency trading account with FXOpen, next is choosing the trades you want to make. With our range of tools and analysis at your fingertips, you'll have the information you need to make decisions with confidence. You might look to capitalise on a booming crypto coin - or you could be simply looking for quick-return opportunities. With us, you'll find them.

Other factors that can help you succeed in the crypto market include the timing of your trades and keeping track of your current open positions. You should always be 100% sure of what your exposure is or a small loss could quickly grow.

With our cryptocurrency trading app, there's a small commission to pay as you open and close positions. Our commissions are 0.5% half-turn, with a minimum 0.01 lot transaction size. Check our Knowledge Base for more details.

We apply a Swap charge on cryptocurrency trading accounts for clients who move their positions to the next trading session. This is 10% per annum of the value of the open position.

We're always here if you need further support. Contact us with any queries or concerns you have. Our live chat service is also open from 8am to 6pm Sydney time, five days a week.