Things you should know about Cryptocurrency
With so many cryptocurrency exchanges, brokers and trading platforms to choose from, it can be difficult for beginners (or even experts) to know which option will work best. Here a couple of important factors to consider before deciding who to open a cryptocurrency CFD trading account with.
Trading Cryptocurrency and other financial instruments’ costs money. There is the spread cost, potential commission charges, overnight financing costs, exchange fees etc. You must consider all these trading costs before opening an account with a broker as no two brokers charge the same amount.
TradeDirect365 is one of Australia’s lowest-cost CFD providers with tight fixed spreads and no commissions. Lower trading costs can improve the returns you could make, so please only trade with a broker that charges fairly and is fully transparent with its charges.
Always use a regulated CFD broker (like ASIC or the FCA) as this regulatory body has rules and regulations in place that protect the integrity of the market, as well as the interest of traders and investors. Never use an unregulated broker to make your trades – the risks are severe if you do.
If you want to trade Bitcoin or other cryptocurrencies, then please ensure your broker of choice has them available on their trading platform as not all brokers offer a range of cryptocurrencies.
TradeDirect365 has Bitcoin and 10 other major cryptocurrencies on its platform!
As a CFD trader, you’ll want to be able to speak with a real customer support person if required and have quick responses to your questions.