10 Ways to Compare and Choose the Best Crypto Broker in Australia

Hey Aussies, Can’t you find a way to choose the best Crypto Broker? In this article, You will know the eight things to consider while choosing a crypto broker in Australia.

Just a few years ago, it was unimaginable to think about the decentralization of money. But it happened. From one Bitcoin to thousands of altcoins made the crypto tent rich. And you know that the crowd attracts both the good and bad people. Crypto is no exception in this case. With the increasing demand for cryptocurrencies, it is extremely important to choose the best crypto broker. This article will unfold the ways that one should consider while selecting a trading platform from the perspective of Australian crypto brokers. So let us move directly to the ways.

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1. What is a Crypto Broker?

A broker is like a middleman who introduces and maintains a relationship between a buyer and seller. In lieu he, or she takes some commissions out of it. In the beginning, when there was no internet or digital media, humans used to work as brokers.

With the advancement of science and technology, the concept has changed. Now different apps and websites act as brokers. A crypto broker allows you to trade cryptocurrencies. There are other brokers like stockbrokers, forex brokers, etc.

1. How to choose the best Crypto Broker in Australia?

To pick out the best crypto traders, whether you are in Australia or any other part of the world, is a matter of great decision. One must look at the following eight things when grading the crypto brokers.

• It must Come under the regulation of the government.

The broker you are selecting must follow the regulations of the government. Hackers and scammers are on the line, and they are always trying to snatch away. The regulatory board of Australia is AISC. See if your trading platform comes under the regulations of AISC. If not, then immediately leave that platform.

• Capital of the platform

The number of new traders in cryptocurrency is increasing overwhelmingly. They often choose brokers who don’t have their own money. So, the chances of drowning are prevalent. Just think of that you, to make money, are giving your money to someone who has zero balance in their account. It is nothing but putting your hands on fire.

• Fees

The charges of the trading platforms vary. It is wise to go with a platform that takes low fees on the transaction. But that doesn’t mean it should be a reliable one. You always inspect the reason behind taking low charges of a particular broker. Just compare and select. That is where half the job is done.

• Technical support

Technical support is entirely different from customer service. It deals with the technicalities of cryptos, trading platforms, and many other things, as everything is digital. It takes a lot of time to be well versed with technical knowledge. Many brokers or trading platforms rely on their customer service to solve technical problems. But a technical advisor, especially in cryptocurrency, takes years of experience. Traders with prior knowledge will not face serious problems, but beginners may face complexity. It wastes a lot of time. So the endpoint is, you should always check the technical support of your broker.

• User-friendly interface

Trading, whether cryptocurrency or stocks, requires a knowledge of some terminologies. A complex interface always irritates the customer. If you are starting as a crypto trader in Australia, be sure to choose a reliable, trustworthy, yet easy-to-use platform. It will save a lot of time for you. It also reduces the chances of losing your money by doing something wrong.

• Sustainability with longevity

How can you trade without trusting your broker? Traders who believe in long-term capital gain should rely upon a reliable trader. Otherwise, in the long run, it may result in a scam.

• Availability of coins

There are two types of trading platforms. One is advanced, and the others are just starting. The experienced trading platforms hold an option of thousands of coins, but the newbies don’t. There are some pros and cons also. Advanced platforms may charge higher fees than the new platforms. Ultimately, it depends upon the investor or trader which coin they want to invest on.

• Customer support

This facility is one of those things that many people negotiate. Imagine you are caught up in a situation, and there is nobody to help you. You will pop off, man. That is why customer support needs to be taken as necessary. Best crypto trading platforms always give 24/7 hours help and support.

• Demo trading

There are only a few of the ‘best cryptocurrency brokers in Australia that provide demo trading features in the platform. It may not be necessary for the expert traders, but beginners will gain a bulk of profit. By trading in the demo features, they will learn the nuances of cryptocurrency trading.

• Sign up process

Cryptocurrencies’ main motto is decentralization, where users can transact without paper and documents. But not all brokers provide this facility to their consumers. It should be as easy as opening a Gmail account. You simply add your bank details after that to run trading.

There are other facts that brokers should do adding trustworthy coins, especially that the government allows.

1. What are the available Crypto Brokers in Australia?

A wide range of cryptocurrency brokers in Australia is available. All of them are different from others in terms of coins availability, transaction charges, account opening fees, etc. Here are the names of the seven best trading platforms for cryptocurrency in Australia.

• e-Toro: An average crypto broker in Australia.

• Coinbase: thousands of coins to choose from.

• Best crypto trading app in Australia for CFD trading : Capital.com.

• The advanced trader’s platform: Binance.

• Kraken: A reliable and secure cryptocurrency trading platform in Australia.

• The crypto broker: IG.

• The low-cost trader: AvaTrader.

The above names are the best rated cryptocurrency broker in Australia. We have created a chart for you for better understanding.

Broker’s Name	Identity	Advantages	Disadvantages
e-Toro	It is one of the best crypto brokers in Australia, and has reasons to come in the first place. It allows one to trade on the 15 popular coins including Bitcoin, Etherium, and Yearn Finance.	One can directly buy cryptocurrencies or buy CFDs. It has separate analytics platforms for mobile and website. It takes zero commissions with lowest transaction charges. Payments through credit cards, debit cards, and paypal are accepted. It also has a crypto wallet to hold digital assets.	​Only 15 currencies can be traded.
Coinbase	Coinbase is a worldwide name and it allows trading cryptocurrencies in Australia. It has a nearabout 4569 coins including Bitcoin and other altcoins.	​Multiple cryptocurrencies are available to trade. It includes an integrated debit card and crypto wallet. It offers the data from the order book. It is regulated by UK nas USA governments.	​High amount of commissions. Customer support is available through email only.
Capital.com	Capital.com is one the best trading platforms for CFDs.	Zero commissions. It provides rare trading pairs like AUD, EUR and many more. It gives trading ideas. It has a mobile app which gives you price alerts. It also provides 24/7 customer support in chat, calls and emails.	​One cannot buy digital currencies directly. Price alerts feature is not available on the website.
Binance	Binance is ‘the best crypto broker Melbourne’ in Australia. It is extremely helpful for advanced traders. It allows you to trade on a variety of digital currencies including fiat currencies.	Numbers of cryptocurrencies. Built-in wallet system. It has derivatives options and leveraged tokens. The fee structure is also competitive.	The pricing structure is very complex. It is not regulated by any governmental body.
Kraken	​The company is proud of its security features and user interface in Australia. This platform has a cold wallet feature where it keeps 95 percent of the customer funds. They are totally disconnected from the global internet.	Highly secure platform. It is regulated in the UK. One can trade 56 different cryptocurrencies including EUR and USD. It has crypto-future options.	Spot cryptocurrency trading is too expensive.
IG	IG is the oldest CFDs trading platform in Australia. It started in 1974, and shows reliability. It is also the first to add cryptocurrencies in Australia. Now it has all the major Cryptos and altcoins.	One can trade with 2:1 leverage on seven popular cryptos. It includes automated trading. It is regulated by AISC. It also provides 24/5 hours of support.	​Only seven CFDs can be traded. The spread value is higher than the base value.
AvaTrader	​This company is known for their ultra low cost trading. Ava is mainly involved in CFDs trading but other trading features are also available.	Zero commissions on trading. Regulated by AISC. 24/5 customer support system. It has platforms for metatrader 4 and 5.	​Only selected CFDs can be traded.

1. Final thought

I hope that you can easily select the best broker to trade with. Yes, it is tough at some level to choose one when you have a dozen of options. Each of the above-mentioned platforms is designed for different users. Whatever makes you feel comfortable, you go with that.

It is also recommended that before doing anything, do proper research, then proceed. It is always best to go with the platform which is regulated by your local government. If anything breaks down, you may get relief from the government.