Bitcoin Forex Trading Guide

Bitcoin is the new currency on the block, you need to worry about the techno babble, all you need to think about is that in 2017 we have seen daily volatility of over 4 standard deviations!

Top Brokers to Trade Bitcoin Forex with in 2017

To get you started we have listed the top bitcoin forex brokers for Aussie traders

IG Australia Forex Rebate

When trading 500+ Lots a month - Rebates Range from AU$0.50 to AU$1.00 per contract

bullet2AISC regulated

Your Capital is at Risk

Vantage FX Australia Forex Rebate

Up to 30% deposit bonuses, T&Cs apply

bullet2AISC regulated (AFSL #417727)

bullet2A trader with a Plus500 account can trade CFDs on Forex

bullet2Trade Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETH)

Your Capital is at Risk

Bitcoin Forex Trading  - Guide

Why Trade Bitcoin with a Forex Broker

Brokers offer a large number of advantages and security over buying bitcoin directly, we will explain more.

Basic Guide to Buying Bitcoin

To buy bitcoin directly yourself you need to take a few steps:

So far so good, as they say, here comes the science part. Now that you own bitcoins you now need to store yor bitcoins.

Some people leave their bitcoins sitting on the exchange, but there has been situations and for example the largest bitcoin exchange MtGox was hacked and everyone lost their coins. So to be on the safe side you should

  • Download a secure bitcoin wallet
  • Back up your coins with paper or an offline hardware wallet such as a Trezor (in case anything happens to your computer or phone).
  • Keep everything safe and don't get hacked

For large portions of the world, the above process is absolutely fine and makes sense for them. However, we believe for traders there is an easier solution

Trading Bitcoins on CFD

If we compare the above process for buying and more importantly keeping safe your bitcoins let''s compare it to the alternative:

With the trading rebates or welcome offer plus the fact you need to worry about physically storing bitcoin you can see why CFDs are easily the best way of trading Bitcoin

What Else Should I Know About Bitcoin?

Bitcoin has competitors, they are called collectively "alt-coins" and the most popular among them are Ethereum, Ripple and Litecoin.

These alternatives have technical differences to bitcoin and the nerds argue about the advantages and disadvantages of each. From a CFD perspective, Plus500 offers the best range allowing you to trade, Bitcoin, Ethereum and Litecoin.

These alternative coins are fast growing and showing huge returns, so definitely worth keeping an eye on.

Our Recommendation

When it is all said and done, our top bitcoin forex trading platform is IG, we really like the team there, product is world class and they offer rebates on trading bitcoin which makes them unique in the forex industry:

  • Low minimum trading volumes
  • Up to AU$1.00 Lot Rebate
  • Australia's Number 1 CFD provider
  • Numerous way to trade including mobile and Meta Trader 4

Trade Within Your Limits

It's pretty simple, don't be THAT guy, stick to your limits and trade sensibly!