BTC Markets Review
BTC Markets Review by professional crypto currency trading experts, All you need to know about BTC Markets exchange like how to solve BTC Markets login issue or how to open BTC Markets demo account, Finding out how to download BTC Markets trading platform, You will also know about what is BTCMarkets minimum deposit and is BTC Markets app for Android and iPhone available or no.
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BTC Markets Review
| Broker | Min Account Size | Leverage | Spread | US Traders | Review | Open Account |
|---|---|---|---|---|---|---|
 | $1000 | EUR/USD: 0.6 | Review | Free AccountDemo |
BTC Markets an Australian cryptocurrency exchange. While some of the other major players Down Under are merely entry service, meaning they simply allow you to buy or sell Bitcoin (or other coins) with AUD, this is a full fledged exchange, like Kraken, for instance.
Regulation
BTC Markets is based in Melbourne. As the Australian government is currently in the process of creating a framework, by which crypto-exchanges should register, this one is still not overseen by any agency. That being said, we have no doubts BTC Markets will be among one of the first to follow the procedure.
This is reiterated by the fact they are a member of the Australian Digital Commerce Association (ADCA). This is a non-government, non-profit organization aimed at popularizing blockchain technology. Its members include well known companies like IBM and crypto-exchanges, like CoinSpot.
As we briefly mentioned in the beginning, BTC Markets is more of a digital asset exchange, than an entry-level service, they do accept AUD payment. Unlike some of the local competitors, they provide a more sophisticated trading environment on top of that.
When it comes to guaranteeing security, this exchange utilizes cold storage and two-factor-authorisation (F2A). BTC markets has not experienced a major hack yet.
The user reviews on BTC Markets can be separated in two categories. The happy customers acknowledge the fact, trading against the Aussie dollar will not be very liquid and requires slightly higher fees (more on that later). The unhappy ones have various issues, from slow account verification to even not receiving coins in their respective wallets. While we always take these with a grain of salt, there must be some basis for at least a portion of them.
Trading conditions
Several altcoins are available at BTC Markets. They are traded in certain pairs, as well as against the Australian dollar. Here are the details:
Cash pairs: BTC/AUD, LTC/AUD, ETH/AUD, ETC/AUD, XRP/AUD, BCH/AUD
Crypto to crypto: LTC/BTC, ETH/BTC, ETC/BTC, XRP/BTC, BCH/BTC
Leverage
BTC Markets does not facilitate margin trading. This is quite understandable, given the volatility of cryprocurrencies and the comparatively low AUD trading volumes. While this is a major currency, which is often in the eyes of forex trades.
While we are on the topic of forex trading, did you know some brokers, like easyMarkets offer cryprocurrency CFDs?. These instruments follow the price dynamis of the coin they represent. That being said, there are a few other specifics, like the fact this may not be suitable for long-term investing, as the overnight fees can mount up. Be sure to read our detailed explanation.
Bittrex Fees
| Broker | Min Account Size | Leverage | Spread | US Traders | Review | Open Account |
|---|---|---|---|---|---|---|
| $1000 | EUR/USD: 0.6 | Review | Free AccountDemo |
BTC Markets Charges 0.22% on crypto to crypto trades. When compared to most other exchanges, this is a reasonable rate. While there are some companies who go even lower and some who give benefits to liquidity providers, a lot of exchanges charge something in the 0.20-0.25%.range.
On the other hand, when trading digital assets against the Aussie dollar, one must pay higher fees. The maximum is 0.85%, with the rate going lower for bigger trading volumes.
Trading platform
The trading platform provided by BTC Markets is web-based, which is nothing unusual for crypto-exchanges. The charting package will not impress experienced traders, as it has little to no analytical capabilities.
When scrolling even further down, one sees the order book (the list of all buy and sell orders in the market)
The position of the transaction history and list of markets is rather bizarre. They are at the bottom of the page. While this isn’t a big deal, when choosing markets, active traders will prefer having the tape at a much more convenient place.
Payments Methods
BTC Markets accepts deposits Australian dollar payments by Bpay and POLi Payments. The latter comers with a flat $3.30 fee, which is quite acceptable. Blockchain transfers are also supported.
When it comes to withdrawing coins, BTC Markets also charges fees. These are separate from the usual blockchain costs of transfer and are as follows:
BTC Markets is an Australian cryptocurrency exchange. Just like it’s major competitors, the company is very focused on the local market. That being said, BTC Markets provides an experience which advanced traders may enjoy, although even better environments can be found elsewhere. The relatively large number of negative user reviews on third party websites are troubling.
BTC Markets Review Conclusion
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| Broker | Min Account Size | Leverage | Spread | US Traders | Review | Open Account |
|---|---|---|---|---|---|---|
| $1000 | EUR/USD: 0.6 | Review | Free AccountDemo |
