In order to trade successfully, it is very important to choose the right broker. in Australia, a large number of companies provide access to trading and you will have to choose the one for you among them. It is important to work only with reliable brokers providing all the required instruments for trading based on your trading strategy. TU analysts have selected the best crypto brokers for short selling in Australia 2024. You can compare their features and trading conditions.
1
Eightcap - Best for short selling in Australia
Eightcap is a leading Forex and CFD broker, offering over 800 trading instruments, including currency pairs, cryptocurrencies, indices, stocks, and commodities. With tight spreads starting from 0 pips, leverage up to 1:500, and no withdrawal fees, Eightcap provides a competitive trading environment. The broker is regulated by top-tier authorities such as ASIC and FCA, ensuring a secure trading experience.
Comprehensive educational resources, advanced analytics, and innovative functionality such as code-free automated trading through Capitalise.ai and enhanced order execution with FlashTrader distinguish the platform from others.
Though Eightcap does not offer passive income opportunities or joint accounts, it is a popular choice for those seeking a reliable and feature-rich broker.
👍 Advantages of trading with Eightcap for traders from Australia:
•The broker is registered in the Bahamas and Seychelles, and is regulated by the Securities Commission of the Bahamas (SCB, SIA-F220), ASIC (391441), FCA (921296), CySEC (246/14). Also, it partners with many proprietary firms;
•Traders need to deposit only $100 to open a live account, and the broker imposes few trading limits on its clients;
•Hundreds of the most popular CFDs are available, and the pool is constantly expanding;
•Eightcap provides one of the most profitable trading costs with really tight spreads;
•Almost all options for depositing/withdrawing funds are available and the broker does not charge a withdrawal fee;
•The broker’s clients can work through any of the three top trading platforms, including mobile versions of the MetaTrader solutions;
•The company provides high-quality training, extensive analytics, and its own developments for automated trading.
👎 Disadvantages of Eightcap for traders from Australia:
•No joint accounts, copy trading, referral program, or other options for passive income;
•Eightcap has some regional restrictions. For example, some services are not available in Australia;
•The broker's technical support is efficient and competent, but it is not available on weekends.
2
TeleTrade - Best for short selling in Australia
TeleTrade is a global broker serving clients worldwide. They offer trading on Forex, indices, stocks, metals,cryptocurrencies, and energies. While lacking PAMM accounts and certain investment options, TeleTrade boasts a robust copy trading service, a strong affiliate program, and diverse account types (ECN, NDD, crypto). With sufficient leverage (up to 1:500) and spreads from 0 pips, the broker caters to various trading styles, including scalping, intraday trading, and medium to long-term strategies.
TeleTrade supports traders with market analytics, expert forecasts, an economic calendar, and a comprehensive education section on their website.
👍 Advantages of trading with TeleTrade for traders from Australia:
•detailed analytical section;
•informative educational section.
👎 Disadvantages of TeleTrade for traders from Australia:
•no PAMM accounts or other money management options;
•a small range of trading instruments;
•few withdrawal options;
•support is available 24/5;
•withdrawals delayed;
•technical support responds slowly;
•sometimes it takes a long time to verify data.
3
Binance - Best for short selling in Australia
The Binance exchange is one of the largest cryptocurrency exchanges in the world with its headquarters in Hong Kong. According to the CoinMarketCap cryptocurrency portal, Binance holds the top spot in terms of aggregate indicators of the platform's daily turnover, the number of novices and active users, liquidity, and web traffic (ranking, queries, statistics in search engines, etc.). The exchange is also a cryptocurrency startup that has its own “native asset” used in the Binance ecosystem as the “basis gas” (payment internal unit). More about Binance Card
👍 Advantages of trading with Binance for traders from Australia:
•low commissions due to liquidity and trading volumes.
•high platform performance;
•proprietary BNB Coin which allows Binance to reduce the commission size;
•a proprietary cold wallet guarantees the security of your crypto assets by storing them.
👎 Disadvantages of Binance for traders from Australia:
•complex verification procedure;
•the exchange is not licensed by a regulator;
•The platform can go offline without warning;
•there are complaints about the technical functionality of the platform;
•there is an intricate mechanism for calculating commissions and rewards (grid system Maker/Taker).
4
4XC - Best for short selling in Australia
4XC is a reliable broker with the FSC license MC03/2018 . With 4XC, customers can trade on MT4, MT5, mobile apps, and Webtrader and get access to trade CFDs on Forex, Precious Metals, Stocks, Indices, Oil, and Cryptocurrencies. 4XC offers live trading or trust management options. The company is loyal to any kind of trading strategies creating a friendly trading environment for every customer.
👍 Advantages of trading with 4XC for traders from Australia:
•Attractive trading conditions for beginners. Minimum deposit is USD 50 with leverage up to 1:500. This amount is enough to open a position on some assets within the rules of risk management;
•Relatively narrow spread: from 1 pips on the Standard ECN account;
•Good educational opportunities: structured courses for beginners, advanced traders and experts.
👎 Disadvantages of 4XC for traders from Australia:
•Withdrawal fee (except for the VIP account). Withdrawals are limited to one transaction per day;
•The FAQ section does not fully answer the questions of a potential trader.
5
Pepperstone - Best for short selling in Australia
Pepperstone (Pepperstone.com) was founded in 2010 in Melbourne, Australia,
by professional traders who were not satisfied with the quality of services provided by most brokers. The founders
decided to avoid many of the disadvantages of competitors, including high commissions, delayed execution of orders,
etc. The founders therefore focused on improving the technical component. The company has set itself the goal of
changing the “rules of the game” and setting the bar high for online trading.
Today, Pepperstone offers clients all over the world some of the best technological solutions and favorable trading
conditions. The company also provides professional tools that help traders not only master the fine art of trading,
but also significantly increase trading efficiencies. In addition, Pepperstone’s platform is scrutinized by seven
regulatory authorities, including ASIC (Australian Securities and
Investments Commission, AFSL No.414530), FCA (UK Financial
Conduct Authority, 684312), DFSA
(F004356), BaFin (151148), CMA (128), SCB
(SIA-F217), and CySec (388/20). Moreover,
with Pepperstone, clients' assets are maintained in aggregated accounts with several major, global banking
institutions. These facts confirm the reliability of the company and guarantee the safety of the client's capital.
👍 Advantages of trading with Pepperstone for traders from Australia:
•Attractive trading conditions;
•Fast order execution - 30 ms on average;
•1,200+ trading instruments;
•Low fees; and
•No inactivity fee.
👎 Disadvantages of Pepperstone for traders from Australia:
•Support service works only 24/5;
•No cent account;
•Not available to US clients;
•Limited passive trading opportunities;
•Limited analytical materials available on the site. The only way to resolve this issue is to connect to trading signals;
•No news section; and
•Demo accounts can only trade for free for one month only.
Commissions & Fees
Brokerage fees are the amount of money that you pay for using the services that a brokerage offers in order to perform trading and manage investments. The brokerage fee structure and regulations vary from broker to broker, and there are two primary fee types which are:
Trading Fees: This type of fee is only charged when you perform a trade. It can be a conversion fee, margin rate, financing rate, spread, or commission.
Non-Trading Fees: This type of fee isn't directly related to your trading activity, and it can include inactivity fee, withdrawal fee, deposit fee, etcetera.
Eightcap Commissions and Fees
Brokers need to earn, otherwise, they cannot be financially sound companies and provide targeted services to traders. Sometimes they charge their clients only per spread or a trading fee, but most often both. Eightcap offers its clients a choice. There is an account type with a raw spread, which is lower than standard, but with a small fee of $3.5 per standard lot. There is also a standard spread option, which starts at 1 pips with no fee. However, regardless of the selected account type, the conditions are much more favorable than those of most of its competitors. The only thing a trader needs to take into account is the specifics of a floating spread, which is determined by the state of the market and can change quite a lot over time.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard |
$10 |
No |
|
Raw |
$1 |
No |
TeleTrade Commissions and Fees
Our analysts analyzed the broker’s trading and non-trading fees. The first was the company's spread, the second was additional fees for withdrawing funds.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard ECN |
$17 |
No |
|
Professional NDD |
$9 |
No |
|
Sharp ECN CENT |
$2 |
No |
|
Cryptocurrency account |
$3 |
No |
Binance Commissions and Fees
The Traders Union experts analyzed the Binance exchange’s trading terms for the difference in commissions. Exchange commissions depend on the following parameters: the trader's activity (trading turnover per month), the volume of the traders’ investments in the BNB exchange token, on the asset type. There is a withdrawal fee the size of which depends on the name of the cryptocurrency.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard |
from $6 |
Yes |
4XC Commissions and Fees
Traders Union analysts reviewed the broker’s fee schedule. The key fees include spread (including the markup), swap, fixed fee on the ECN account, withdrawal fee (there is also a deposit fee for some payment methods). The fee is calculated in USD per 1 standard lot.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard |
from USD 10 |
0.5-3% |
|
Pro |
USD 0 |
0.5-3% |
|
VIP |
USD 0 |
no |
Pepperstone Commissions and Fees
Pepperstone’s commissions and fee structure has been reviewed by our professional analysts for trading and non-trading commissions. The company's spread was considered as a trading commission. Our professional analysts also categorized additional fees charged for withdrawing funds as non-trading commission additional fees.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Razor |
From $0 |
No |
|
Standard |
From $1 |
No |
Summary
Many brokers are available for traders from Australia, but not all of them offer good conditions. In this review, TU experts chose the Best crypto brokers for short selling in Australia 2024. These are the most trusted companies that offer the best conditions for traders. You will also be able to review the general assessment of each broker.
Overall score of the best Crypto Brokers For Short Selling in Australia
| Eightcap | TeleTrade | Binance | 4XC | Pepperstone | |
|---|---|---|---|---|---|
|
Overall score |
9.04 |
8.92 |
9.56 |
8.17 |
7.22 |
|
Execution of orders |
7.9 |
3.21 |
9.1 |
4.41 |
9.15 |
|
Investment instruments |
8.5 |
6.7 |
3.15 |
5.51 |
9.58 |
|
Withdrawal speed |
7.6 |
7.79 |
7.61 |
8.47 |
8 |
|
Customer Support work |
7.2 |
8.41 |
8.97 |
6.12 |
6.98 |
|
Variety of instruments |
8.02 |
8.75 |
9.48 |
8.02 |
8.75 |
|
Trading platform |
6.9 |
8.29 |
8.23 |
3.95 |
7.29 |
|
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FAQ
How much money do I need in order to start working in the financial markets?
The initial capital depends on the assets you plan to trade. However, in the majority of cases, $300-500 is a good amount for a start.
What factors are important when you are choosing a broker?
When you are choosing a broker, it is important to make sure it is a reliable company, consider its fees, the list of trading instruments, deposit and withdrawal methods and other factors. It is important to study a broker in detail, before opening an account with it.
Why is a license important for a broker?
License is the key document testifying to the broker’s reliability. It means that the company complies with the requirements of the financial regulatory authority that issued it. It is recommended that you choose brokers with licenses from top financial regulators: the USA, European Union, the UK, as these jurisdictions have the strictest licensing requirements.
What learning instruments can a broker offer?
Brokers offer various educational options. These include full-fledged educational courses, or video tutorials, articles, and books. Companies also often hold seminars and webinars.
Best Crypto Brokers For Short Selling by Countries
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.