After deciding to trade cryptocurrency in Australia, you need to figure out ways to stay on top of your activities and maximise your potential. One of the ways to ease your trading experience is using the best cryptocurrency trading apps in Australia. The best element about trading using your mobile device is that you can keep track of your positions wherever you are.
Note that finding the best cryptocurrency apps in Australia is challenging since there is a lot of legwork to be done. To help you with the research process, our team of experts have recommended the best cryptocurrency apps in Australia below. They have all undergone extensive reviews and multiple tests so rest assured you have the best to choose from.
In this guide
Best Forex Trading Apps in Australia
How we test?
OnlineTrading aims to provide quality, simple, and proven information to its readers. Our team of financial experts carefully checks every detail to provide a unique and comprehensive guide to safe trading around the world.
Feedback from regular users is very important to us, so we try to consider the opinions of reviews and feedbacks from several trusted platforms. We spend about 100 – 250 hours analysing and collecting information on each trading platform to ensure our recommendations are reliable.
Naturally, we always remain impartial, honest and recommend only licensed and reliable brokers.
Compare Best Crypto Trading Apps in Australia of 2023
Creating the list of the best cryptocurrency trading apps in Australia was time consuming and close to overwhelming. We reviewed the features of various apps in the country, including platform performance, asset offerings, trading costs, and more. It was also crucial that we checked the apps’ credibility by ensuring that their services are overseen by the Australian Securities and Investment Commission (ASIC).
In addition, we sampled user comments and ratings on Google Play, the App Store, and Trustpilot. The findings from the two research processes were then combined to come up with accurate and unbiased recommendations below.
Here is a summary of our ratings on Australia’s best cryptocurrency trading apps based on our research findings.
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1. eToro – Overall Best Crypto Trading App in Australia
eToro is a user-friendly cryptocurrency trading app offering 37 cryptocurrencies to choose from. What’s more, it has a cryptocurrency wallet that you can use to easily manage your assets. With only a $50 minimum deposit, you will gain access to these crypto assets and try your luck.
This cryptocurrency trading app in Australia has quality learning resources. Research tools have also been offered to help you in maximising your potential. It is also a social trading app that lets you interact and socialise with other cryptocurrency traders globally. Should any cryptocurrency trader open a position with high-profit potential, eToro allows you to copy it free of charge.
Other than cryptocurrency trading, eToro also offers forex, stocks, and commodities to trade. Unfortunately, trading and non-trading charges are relatively high, limiting the app’s usability to low budget traders and newbies.
✔Easy account opening
- Plenty of cryptocurrencies offered
- Low minimum deposit requirement
- Award-winning copy and social trading platform
- Regulated by tier-one authorities, including ASIC, CySEC, and FCA
- It can be too expensive for low-budget cryptocurrency traders
- Limited research resources for advanced traders
2. Forex.com – Best Crypto Trading App for Beginners in Australia
Getting started on the cryptocurrency market requires an app with user-friendly features. Forex.com is an excellent choice in this category not only because of its platform but because it offers quality learning materials for newbies to boost their skills. In addition, there is a demo account provided, allowing beginners to test the app before fully committing.
Forex.com has low trading and non-trading charges, whether you are trading Bitcoin, Ethereum, Litecoin, or Ripple. You can also go long or short on the cryptocurrencies offered if you are not willing to own the assets. Additionally, newbies have adequate research resources to help you conduct your analysis and choose the best strategy.
This app for cryptocurrency trading in the UK also offers various platforms to choose from. Although we advise newbies to begin trading with its standard user-friendly platform, you can also access the MT5 platform once confident in your skills. As a result, you get to enjoy advanced features to maximise your chances of making profits.
✔ Great variety of currency pairs
- User-friendly platform with customisable features
- Low trading and non-trading charges
- Excellent learning tools for beginners’ skill building
- Limited asset offerings
- Customer service functions only five days a week
3. CMC Markets – Best Bitcoin Trading App in Australia
Trading Bitcoin with CMC Markets allows users to enjoy its Next Generation platform that is easily customisable to suit all levels of experience. It is the best cryptocurrency app in Australia for Bitcoin trading since it allows you to trade the asset as CFD. This means that you will not need an exchange account or Bitcoin wallet to enjoy this app’s offerings. Additionally, trading Bitcoin attracts low spreads.
There is no first deposit requirement at CMC Markets for you to trade Bitcoin. Transactions are also made for free, allowing you to trade Bitcoin CFDs without incurring a lot of costs. Since Bitcoin assets are highly volatile, CMC Markets also supports traders with in-depth learning resources to support their activities.
Another element that makes CMC Markets stand out is its research resources. Whether you are new to cryptocurrency trading or have been trading for a while, you will have access to plenty of technical indicators, chart patterns and types, and more. Using these tools while trading on a mobile device will help you maximise your chances of succeeding.
✔Excellent research and educational tools
- Cutting-edge Next Generation platform with customisable features
- Low spreads for Bitcoin trading
- In-depth research and educational materials
- Customer service can be improved
- Beginners may find its advanced resources challenging to use
4. Oanda – Best Crypto Trading App for Android in Australia
Oanda seems to impress Android users in Australia, and we couldn’t agree more. During our research, we tested Oanda using both Android and iOS devices. Although it functions exceptionally well on both devices, its performance on the Android device is unmatched. You can easily access the menu and other commands and maximise your potential.
Oanda’s platform is user-friendly and hosts four major cryptocurrencies to trade as CFDs. They include Bitcoin, Bitcoin Cash, Litecoin, and Ethereum, all of which are traded at low costs. In addition, there is no minimum account deposit to access the cryptocurrencies.
Expect an exceptional experience once you commit to Oanda. Not only does it host impeccable educational materials, but you will also enjoy plenty of research tools. What’s more, you get to trade the cryptocurrencies on the MT4 and MT5 platforms it hosts. The cryptocurrency app lives up to ASIC regulations, leaving you with no reason to not use it on your Android device.
✔User-friendly account opening
- Fast order execution speed on Android device
- Highly rated by users on Google Play
- You can trade all the four cryptocurrencies on the MT4 and MT5 platforms
- Limited selection of cryptocurrencies
- Deposit methods are limited
How to Choose the Best Cryptocurrency Trading App in Australia
Many cryptocurrency traders do not know what to look at when choosing a cryptocurrency app in Australia. The good news is that we have recommended the top five above to choose from. However, if you want to conduct the research yourself, here are the factors to consider.
The Australian financial market attracts many cryptocurrency brokers, some of which are not legally approved to offer their services to residents. This means that there are also unscrupulous cryptocurrency brokers in the region, and if you are not keen, you may end up losing your funds to scammers.
Simply put, you need a cryptocurrency trading app offered by a broker regulated by the Australian Securities and Investment Commission (ASIC). Such cryptocurrency apps guarantee the safety of your funds and provide the best trading environment to maximise your potential.
As mentioned earlier, the features of a cryptocurrency trading app in Australia should fit you just right, and this includes the platform. Therefore, ensure a cryptocurrency trading platform executes trades fast, especially if you are an active trader. The platform should also offer a variety of trading tools to ease your experience. These include a demo account for testing it to prove whether it is suitable for you.
The cryptocurrency trading app in Australia you choose should offer a good selection of assets to choose from. This includes your preferred cryptocurrencies since you do not want to limit your opportunities. A cryptocurrency trading app with plenty of assets allows you to diversify your portfolio and trade new assets should you feel the need to try your luck in a different market.
Cryptocurrency trading apps in Australia have different trading and non-trading charges. In this regard, we advise you to confirm these charges to budget accordingly. Also, ensure you can afford the minimum deposit required and whether there are other hidden costs.
Becoming a successful cryptocurrency trader in Australia comes with lots of challenges that require clarifications. Trading using an app with dedicated customer service will help you quickly resolve any arising issues that may affect your activities. You simply need to ensure that its availability aligns with your schedule and the communication channels available are convenient for you.
We usually advise our readers to consider other traders recommendations before choosing a cryptocurrency app in Australia. Although the best cryptocurrency app is the one that suits your trading needs, user comments on Google Play, the App Store, and Trustpilot will help you clarify any doubts that may affect your decisions.
FAQs
Yes. Cryptocurrency apps are safe only if they are offered by licensed and regulated brokers. In Australia, ensure the cryptocurrency app you choose is hosted by ASIC regulated brokers.
It’s impossible to get cryptocurrency for free in Australia, especially when trading using an online brokerage firm. This is because, just like you, brokers intend to earn profits from either commissions or spreads. However, some cryptocurrency brokers charge low fees and no minimum account deposit, allowing you to access the assets at a low cost.
Although you can buy cryptocurrencies directly from a cryptocurrency exchange, using a broker is the cheapest way to buy the asset. However, the broker should fit into your trading needs and be regulated by at least one top-tier financial authority.
You first need to sign in to the crypto exchange and click on the balance button on your crypto wallet. Then, your list of cryptocurrencies will be displayed, after which you will select the one to withdraw. After making the selection, you simply sell it, add a withdrawal address and confirm the withdrawal.
No. Crypto does not have any hidden charges, and the fees you see are what you will incur. However, there are some cryptocurrency brokers in Australia with hidden charges. Therefore, if you do not conduct your due diligence, you may end up trading with more than you had budgeted for.
To withdraw large amounts of cryptocurrencies, you need to sign in to your account and access the crypto wallet. Once you have your cryptocurrencies displayed, you will select the number of assets you need to withdraw. You will then press the sell button and have your cryptocurrencies converted to your currency, which you can withdraw to your bank account.
Conclusion
Take advantage of our recommended cryptocurrency trading apps in Australia above and stay on top of your activities anytime. These apps have excellent features and are also regulated by ASIC. So, whether you are a newbie or expert cryptocurrency trader, the above list will help you get started on a good note.
