This article will discuss the 10 best crypto exchanges for day trading in Australia in 2023. Day traders need a good crypto exchange platform to carry out their day trading activities easily.
List of the 10 Best Crypto Exchanges for Day Trading in Australia
Crypto exchange platforms are numerous, and investors need to research them before deciding the one to use. Below is the list of the 10 best crypto exchanges for day trading in Australia.
1. Capital.com
Capital.com is a top crypto exchange platform allowing multiple trading on various crypto assets. The platform also allows users to trade on stocks, ETFs, and forex.
Pros
• There are lower fees on forex trades.
• Their account opening process is very simple.
• Their customer care support team is effective.
• There is commission-free trading on real stocks.
Cons
• There are higher fees on stock index trading.
• Smaller account currencies are not available.
• There are limited deposit and withdrawal methods.
Fees
• Maker fees: 0.04% to 0.4%
• Taker fees: 0.1% to 0.4%
• Credit card purchases: 2.99%
2. Kraken
Kraken is another popular exchange platform that enables traders and investors to trade on different crypto assets. There are many tools to help with researching diverse assets before investment.
Pros
• There are lower fees for non-instant purchases.
• Traders and investors have access to trading on numerous assets.
• The exchange offers an advanced trading platform for traders and investors.
Cons
• Their educational tools offered are not completely helpful.
• There are fees on instant purchases made on the platform.
• The platform charges fees on withdrawals with high minimums.
Fees
• Trading fees: 0% to 0.26% per trade.
• Crypto credit card purchase: 3.75%
• ACH crypto purchase: 1.5%
3. eToro
eToro is a globally recognized and easy-to-use trading platform that investors and traders can use for their trading activities.
Pros
• Their account opening process is easy.
• There are lower fees on funding one’s account.
• The platform offers access to multiple crypto assets.
• The exchange platform allows traders to access social trading.
Cons
• Their customer service is quite slow in response.
• The exchange platform is limited to some countries.
• Their fees are relatively high on trading some crypto assets.
Fees
• Traders are charged a fee of $5 on withdrawals.
• There are no fees on deposits made to the platform.
• The platform charges a $10 fee on inactive accounts.
4. Digital Surge
Digital Surge is a good exchange platform that offers access to over 200+ crypto assets and has top security on the individual user’s account with the platform.
Pros
• Their security level is very high.
• The exchange is simple to use in trading.
• Users can hold their funds in offline cold storage.
• The platform’s KYC and identity verification process is fast.
Cons
• The platform does not allow for credit card transactions.
• Their fiat deposit option is only available for Australian dollars.
• Their spot market allows for ETH – AUD and BTC – AUD trading pairs.
Fees
• Transaction fee: depends on volume.
• Deposit fee: free for crypto-assets and Pay ID deposits.
• Withdrawal fee: free, but there’s a network fee for sending to an external wallet.
5. Independent Reserve
Another suitable crypto exchange platform in Australia is Independent Reserve. The platform has numerous features backed with access to diverse crypto assets.
Pros
• Their fees are relatively low.
• Their account security is top-notch.
• It offers access to numerous crypto assets.
• The exchange offers users the ability to earn from referrals
Cons
• Their support team is not always available.
• The exchange application is not available for mobile trading.
Fees
• Deposit fee: free
• Withdrawal fee: free
• Trading fee: 0.5%
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6. Zipmex
Zipmex is an approved exchange platform licensed in Australia and offers users of its multiple platform features to assist them in conducting their trading activities.
Pros
• Their service is available 24/7.
• Their trading fee is relatively low.
• The exchange has high speed in concluding various trades.
• The platform supports fiat currencies such as USD.
Cons
• There are no discounts on high-volume trades.
• The exchange platform only offers access to some crypto assets.
• Their customer care support is only available through their website.
Fees
• Maker fee: 0.2% to 0.10%
• Taker fee: 0.10% to 0.20%
• Withdrawal fee (AUD): $5
• Deposit fee: free
• Withdrawal fee (crypto): depends on your crypto asset
7. Swyftx
Swyftx is a top exchange platform registered and regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC). The platform allows for crypto-asset purchases, sales, and staking.
Pros
• Their application is exceptional for trading.
• The exchange offers a welcome bonus of up to $20.
• The exchange platform supports the staking of various crypto assets.
• AUD can be deposited through credit/debit card, Pay ID, PoLi, and Bank transfer.
Cons
• Their fees on forex trading are high.
• Their customer support takes a long time to respond.
• The platform does not offer margin, derivatives, or futures markets.
Fees
• Trading fee: 0.6%
• Deposit fee: free
• Withdrawal fee: free (AUD 100K max.)
8. Binance
Known to be the world’s largest and most used exchange today is Binance, which is suitable for crypto trading. Australian traders can effortlessly use the platform for their trading activities.
Pros
• The exchange platform is very safe.
• The exchange platform offers numerous extra services.
• The exchange platform enables traders and investors to trade on many crypto assets.
Cons
• Their corporate structure is non-transparent.
• The platform is currently unavailable for U.S traders.
• Their account verification process is very complicated.
Fees
• Fiat deposit: 0% to 3.5%
• Withdrawal fee: 0% to 2.5%
• Taker fee: 0.04% to 0.1%
• Maker fee: 0.02% to 0.4%
9. Coinspot
Coinspot is one of Australia’s largest crypto exchange platforms, which an individual can use in conducting their various trades. It has a desktop as well as a mobile application for usage.
Pros
• There is a wide variety of AUD deposit options
• There is a large selection of assets in Australia.
• The platform is easy to use and very comforting for beginners.
• The platform is a trusted one that AUSTRAC regulates.
Cons
• Poor liquidity on the exchange platform.
• Instant Buy/Sell constantly attracts fees.
• The exchange platform lacks various trading features.
Fees
• Deposit and withdrawal (fiat): free
• Deposit fees (crypto): free
• Instant Buy/Sell: 1%
• Withdrawal fee (crypto): depends on the crypto asset.
10. Crypto.com
Crypto.com is a suitable online exchange platform that allows users to buy, sell and exchange various crypto assets.
Pros
• The exchange’s application is good and easy to use.
• Traders can purchase and sell up to 200 different crypto assets.
• The exchange platform’s trading application is available on desktop and mobile devices.
Cons
• Their customer care service is poorly rated.
• The exchange’s application fee could be very high.
• The exchange platform does not allow for crypto-to-crypto trading.
Fees
• There’s a maker fee of 0.04% to 0.4%.
• There’s a taker fee of 0.1% to 0.4%.
• There’s a credit card purchase fee of 2.99%
Day trading is a good strategy for traders and investors to effectively and efficiently conduct on various crypto exchange platforms.
Ensure further research on the above-discussed exchange platform before deciding on the one best suited for your trading activities.
We hope this article will help provide enough information on these crypto exchanges. Kindly visit our comment section for all your all views and opinions.
Watch the video below to know the best crypto exchanges for day trading in Australia:
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