FXOpen: The expert cryptocurrency trading platform
Advantages of crypto CFD trading in Australia with FXOpen
Trade crypto with leverage
Trade crypto CFDs with up to 1:2 leverage.
One platform with multiple instruments and markets
Build your portfolio any way you choose. As well as the crypto market, our dynamic platform also lets you trade forex, indices, commodities, and share CFDs in one single place.
Your crypto investment is fully safe and secure
We're fully authorised and regulated by ASIC as a crypto CFD broker, so you can have complete trust in the security of any deposits you make.
Invest in cryptocurrencies straight off the charts
With our cryptocurrency trading app, plus web and desktop platform, you can place three types of order: market, limit, and stop. It's all due to the multiple manual trading options that we offer to all our crypto market clients.
Automatic cryptocurrency trading with ready-to-go scripts
Download and use ready-made scripts to execute automated crypto coin trades. Or create your own scripts and ensure trades are made when and how you want them to be.
Insights and analysis to inform your next decision
At FXOpen, we want you to be confident in your trading decisions. That's why we provide more than 50 built-in indicators and graphic tools for the crypto news and analysis you need.
Your introduction to cryptocurrency trading
The growing popularity of Bitcoin and other cryptocurrencies has created new opportunities for traders looking to buy crypto in Australia. Using CFDs, investors can take their position on crypto price movements all without owning the underlying asset.
Like forex, there are numerous cryptocurrency pairs to trade using CFDs. Such digital currencies aren't considered to be legal tender – compared to government-issued fiat currencies. Crypto is, however, shifting the global financial trading landscape. And you can invest with leverage now.
How to trade cryptocurrency using CFDs
Similar to forex trading, cryptocurrency trading is done in pairs. With a CFD, you are agreeing to exchange the difference in the price of a cryptocurrency between opening and closing positions.
By taking up a long position, traders will make a profit if the value of the chosen cryptocurrency goes up. In a short position, you’ll achieve profits if the cryptocurrency value goes down. Our crypto trading platform gives you the freedom to control your actions or automated orders.
Here's an example of how to trade cryptocurrency as a CFD:
Trading crypto CFDs in Australia with FXOpen: What you need to know
One of the unique features of the crypto market is its volatility, which can be extreme at times. Trading with leverage in a volatile market means that your losses may be rapid. So, never risk more than you can afford to lose in order to safeguard your portfolio.
It is also wise to be clear on how both the crypto market and CFDs work. You can check out the FXOpen Knowledge Base for more crypto news, support and insight whenever you need it.
The best crypto trading platform for expert traders
Our unique price aggregation makes us one of the best crypto CFD trading platforms for expert traders. Our Electronic Communication Network (ECN) accounts delivers the most cost-effective form of trading. It means you benefit from the most favourable market conditions too.
Features of our crypto trading platform include:
- Floating spreads
- 1:2 leverage
- 100% margin call
- 24/7 trading time
- 0.01 lot minimum transaction size (no maximum)
With FXOpen, your portfolio isn’t restricted to just one asset either. Open an account with us and you can diversify your trading activities as you wish. As well as being a crypto CFD broker, we also offer trading opportunities in forex, stocks and shares, global indices, and commodities.
FXOpen puts you in control of your cryptocurrency trading. And you can get started with crypto in Australia today.
How safe is cryptocurrency trading?
There are some risks unique to the crypto market that are worth bearing in mind.
- 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.
Are there different types of cryptocurrencies?
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
Why start trading the crypto market?
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.
Factors to watch out for with the crypto market
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.
Make crypto trading work for you with FXOpen
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.
How much does it cost to trade crypto?
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.
*Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under ASIC Rules. They are not available for trading by Retail clients.