Top Automated Crypto Trading Platforms In Australia

The automated crypto trading Australia list of providers are.

CFD Crypto Brokers
  • Eightcap - Best Automated Crypto Trading Platform for Australians
  • eToro - Best Cryptocurrency Copy Trading Platform
  • IC Markets - Top Cryptocurrency Social Trading Platform (with ZuluTrade)
  • FXCM - Best No code Automated Crypto Trading Platform
Broker Our Rating Regulation Standard
EUR/USD Spread
Standard
GBP/USD Spread
Standard
AUD/USD Spread
Raw
EUR/USD Spread
Raw
GBP/USD Spread
Raw
AUD/USD Spread
Commissions
(USD Base)
MetaTrader 4 MetaTrader 5 cTrader Execution Speed Minimum Deposit Currency Pairs Crypto CFDs Retail Leverage Prof. Leverage
75 ASIC, SCB
FCA,CySEC
1.0 1.0 1.2 0.06 0.73 0.27 $3.50 143ms $250 (Raw)
$500 (Standard)
40+ 250+ 500:1 500:1 Visit Site
43 ASIC, CySEC, MFSA
FCA, FSA, FINRA
GFSC
1.0 2.0 1.0 - - - - 130ms $200 (Australia), $50-$100 (EU) 49+ 46+ 30:1 400:1 Visit Site
85 ASIC, FSA-S
CySEC
0.62 0.83 0.77 0.02 0.23 0.17 $3.50 134ms $0 61+ 18+ 30:1 500:1 Visit Site
72 ASIC, FSCA
FCA, CIRO
BaFin, ISA, CySEC
1.3 1.4 1.7 0.30 0.90 0.40 $3.00 150ms $300 42+ 7+ 30:1 500:1 Visit Site
 

What Are the Best Automated Crypto Trading Platforms in Australia?

Despite recent market downturns, crypto assets remain a popular trading product amongst Australians. With the increasing sophistication of AI and machine learning has fueled exponential growth in automated trading. Combine these two trends, and it’s no wonder the number of automated crypto trading platforms and solutions has reached an all-time high. To help you make sense of the landscape, we reviewed and profiled the best automated crypto trading solutions available to Australians.

1. Eightcap Best Automated Crypto Trading Platform for Australians

Eightcap

Forex Panel Score

75

Average Spread

EUR/USD = 1.0
GBP/USD = 1.0
AUD/USD = 1.2

Trading Platforms

MT4, MT5,
TradingView, Capitalise.ai

Minimum Deposit

$100

Why We Recommend Eightcap

A multi-award winning broker, Melbourne-based Eightcap boasts an impressive set of credentials, including Best Global Forex MT4 Broker for 2020 at the Global Forex Awards. Competitive trading fees, a wide range of crypto assets to trade and strong automation tools round out the package.

Pros & Cons

  • Best cryptocurrency range
  • Great platforms for automation
  • Competitive trading fees
  • Narrow range of CFDs
  • Lacks a proprietary platform
  • Educational content limited

Broker Details

Eightcap Has the Best Overall Crypto Trading Experience for Australians

MetaTrader 5 With Expert Advisors

If you want to automate your trading, the first step is to choose a suitable trading platform. For most traders, this means either MetaTrader 4 or MetaTrader 5. Why? MT4 and MT5 are among the most popular trading platforms in the world, which means a marketplace for trading bots that numbers in the millions of users. Known as Expert Advisers (EAs), MetaTrader-compatible trading bots even come built-in with the platform.

As a no-dealing desk STP (sometimes erroneously called ECN) broker, Eightcap is a good choice because the broker doesn’t place limitations on how you use its platform. So whether you are a high-volume trader, a scalp trader, or need Virtual Private Servers (VPS) for the fastest possible speeds 24/7, Eightcap can accommodate you.

Speaking of which, when we tested order execution speeds over VPS, Eightcap posted some impressive results. Out of 15 brokers, Eightcap ranked fourth for overall execution speed. We clocked limit orders at 149 ms, while market orders took only slightly longer at 160 ms.

Broker Overall Ranking Limit Order Speed Market Order Speed
Blueberry 1 82 90
Axi 2 107 154
City Index 2 117 144
Fusion Markets 4 169 125
EightCap 4 149 160
Pepperstone 6 158 168
Blackbull Markets 6 139 219
FP Markets 8 149 344
IG 8 209 182
Admiral Markets 8 172 270
IC Markets 8 233 168
Go Markets 12 175 290
TMGM 13 219 262
Tickmill 14 186 397
CMC Markets 15 235 296

Like MT4, MT5 allows you to automate your trading through the use of Expert Advisors. While the MT4 marketplace for EAs is far more extensive, there are some advantages to using MT5. For starters, EAs for MT5 are written in MQL5, which is based on the C++ programming language. Many traders find this an easier language to write than C#, the foundation for MT4.

You should also take into account the fact that MetaQuotes no longer supports or updates MT4. This means that MT5 is likely to become the dominant platform. So it follows that, in time, the MT5 EA marketplace will grow.

eightcap compare trading platform

Lastly, the products you can trade with MT4 are more limited compared to MT5. In the case of Eightcap, you’ll need to trade with MT5 to access the broker’s full range of crypto products. If you still can’t choose between MT4 or MT5, Eightcap offers a demo account with US $50,000 in virtual funds, tutorials and trading conditions that aim to mimic a real account for both trading platforms.

To automate your trading with MT5, you have several options when it comes to Expert Advisors.

  • Create your own expert advisors via MQL5 Wizard. This is a good option for those with no programming experience as you create trading robots using click and play). Using the MQL5 Wizard, you define your preferences for each of the 3 modules – signals, money management and trailing stops and the Wizard will do the rest.
  • Code your own expert advisors via the MQL5 IDE development environment or employ a developer to create your expert advisor.
  • Purchase existing Expert Advisors from the MetaTrader Marketplace.

Choosing MT5 also means access to a far greater range of trading tools and instruments to trade compared to MT4. These superior tools are designed for more comprehensive price analysis, use of algorithmic trading applications (trading robots, Expert Advisor) and copy trading.

Capitalise.ai and Amazing Trader Are Worthy Automation Alternatives

Capitalise.ai is designed for you to automate your trading with no code. This revolutionary program means traders of all levels, beginner to intermediate, can create their own personalised trading strategy by using plain English. Not only can you automate your trading, analytical tools are also provided so you can make informed trading decisions based on the right data. A good example of this includes backtesting, which allows you to see how your strategy would perform using real-time data.

The Amazing Trader is an advanced charting algo platform that covers a range of products from FX, indices, cryptos and metals. Jay Meisler is considered a master at picking support and resistance levels and The Amazing Trader allows you to see the charts from his system in real-time via your MetaTrader platforms. This system removes much of the chaos in the markets thus making it easier for you to identify entry and exit levels. You can try out the Amazing Trader platform for free with their 28-day success program, but in order to do so, you must maintain an account balance of $500 or more.

Eightcap Trading Accounts

Eightcap is a no-dealing desk broker, meaning the broker sources its spreads directly from liquidity providers.

eightcap account types australia

The Standard account includes commissions in the minimum spread, which starts at 1.0 pips. In our analysis, Eightcap posted average trading fees for a Standard account. The average spread for a standard account trade worked out to 1.51 pips, equivalent to US $13.97. Cheaper, by far, than our worst performing broker, but decidedly middling.
cheaper, too.

Broker Average Spread Average Spread Cost (USD)
IC Markets 1.03 $9.63
CMC Markets 1.11 $10.10
Fusion Markets 1.19 $11.07
TMGM 1.21 $11.18
Admiral Markets 1.31 $11.96
FXCM 1.47 $13.49
Pepperstone 1.46 $13.52
FP Markets 1.47 $13.60
Go Markets 1.49 $13.87
EightCap 1.51 $13.97
OANDA 1.54 $14.23
Axi 1.71 $15.99
City Index 1.79 $16.52

The RAW account has tighter spreads – 0.0 pips as a minimum – however those spreads can vary and don’t include a commission. Eightcap charges a reasonable US $3.50 per round turn.

Experienced traders generally prefer the RAW account due to the low fees and advanced trading features required for arbitrage to futures trading. The standard account is more suited for beginner traders who want the brokerage factored into the spreads quoted.

Eightcap Is King for Crypto Trading

While best known as a forex broker, there are a number of compelling reasons to consider Eightcap as your broker for CFD crypto trading. Not only does Eightcap have over 250 cryptocurrency products available (which is impressive in itself), but its range is larger than all other CFD brokers and often cheaper, too.

Number of Coins Bitcoin Cardano Dogecoin Ethereum
Eightcap 253 31.2 0.0066 3.5
IC Markets 18 42.036 0.001 0.001 11.605
Pepperstone 24 33.97 0.007 0.0013 5.45
FP Marketes 11 20.33 0.0206 0.0021 4.68
IG 11 36 1.2
eToro 120 372 0.0085 0.0044 62
Capital.com 202 140 0.025 0.0146 9.5

Using the table above to illustrate, Eightcap offers by far the best choice and tightest spreads when compared to other brokers.
The most notable distinction is in the sheer range of cryptos, at over 250 pairs compared with the nearest best, 24 pairs at Pepperstone. Spread-wise, Eightcap is also competitive across all its crypto offerings. The broker averages 31-point spreads for Bitcoin, tighter than Pepperstone and IC Markets at 33 and 42 points respectively, while Ethereum sits at 3.5 point average spread, while Pepperstone, IC Markets and FP Markets are all wider.

eightcap crypto cross pair

Among the 250+ crypto products, you can pick from:

  • 128 cryptocurrencies available against USD (MT4 & MT5)
  • Cryptocurrencies include all the popular cryptos such as Bitcoin, Bitcoin Cash, Litecoin, Dash, Ethereum and Ripple but also many unique cryptos such as Dogecoin, Holo, Dodo, Ox, Loopring, Chainlink, Shiba Inu and Polkadot.

All these cryptos are available 24/7 for trading.

  • 20 Cryptos against AUD, CAD, EUR, GBP, MXN in addition to USD (available with MT5 only)
  • 20 Cryptos against Bitcoin (available with MT5 only)

While most brokers only have trading of crypto vs. the USD, Eightcap allows for trading cross pairs using selected fiats and Bitcoin. One thing to note is that only Bitcoin crosses are available 24/7.

  • 4 types of crypto CFD indices or crypto-based

Indices allow for diversification as they combine the best crypto as part of a basket.

Our Verdict: Eightcap

The most popular automation crypto trading platform is MetaTrader 5 and Eightcap offers the software with advanced features. It’s this platform combined with the low spreads and wide range of crypto products available to trade which is why Eightcap is the best broker for Australian traders.

Eightcap ReviewVisit Eightcap

2. eToro Best Cryptocurrency Copy Trading Platform

eToro

Forex Panel Score

43

Average Spread

EUR/USD = 1.0
GBP/USD = 2.0
AUD/USD = 1.0

Trading Platforms

eToro Trading Platform

Minimum Deposit

$50

Why We Recommend eToro

eToro offers a wide range of crypto products in a fantastic trading environment. It’s the most popular copy trading platform available, and for good reason. The broker offers a comprehensive suite of trading tools designed to make day trading accessible to beginners and casual traders, including fully automated copy trading in a game-ified atmosphere.

Pros & Cons

  • Select traders based on proven performance
  • Commission-free trading
  • Easy-to-use platform for copy trading
  • Higher trading costs
  • Lacks MetaTrader 4 support
  • Has withdrawal fees

Broker Details

eToro Has a Great Range of Crypto Products for Copy Trading

eToro Trading Accounts

If you’re looking for a simple, straightforward trading account option, eToro may fit your needs. The broker offers a single Standard-style account with commissions included in the spread.

The broker acts as a market maker, which means it may sometimes sit on the opposite side of your trades. While this does ensure that your order always fills, it can lead to wider spreads and higher trading costs in some cases.

etoro account type products

Automated Social Crypto Trading with eToro

eToro is the leading and best-known copy trading platform out there. We consider copy trading and social trading forms of automated trading because, in both cases, you’re outsourcing the strategy work to a third-party and relying on a bot to open and close positions in tandem with your targeted trader.

One thing to remember is that when copy trading, since you’re following the trader, you strictly follow all the trades they open and close. Their trades appear automatically in your account, and while you’re free to close them yourself, you won’t necessarily get the profitability the trader’s track record suggests you’ll get. It’s very much a hands-off deal – you have to allow the copied trader to get on with the job they do best.

eToro calls these traders “Popular Traders” and they’re compensated by the amount of money allocated by other eToro clients to follow the copied trader. More Assets Under Management (AUM) means more compensation for the Popular Trader. Obviously, copied traders only become copied because they’re performing well. The goal is a win/win with the copied trader making money, the trader who copies trades, and eToro through the brokerage.

eToro Has an Excellent Selection of Cryptos

While not quite as extensive as our number one pick, Eightcap, eToro still boasts an impressive number of cryptos to trade. With 49 tokens to buy and sell, along with a solid collection of other CFD products, the product selection should satisfy most traders.

etoro trading products aus

Our Verdict: eToro

For Australian traders looking for a reliable copy trading platform, we recommend eToro. Their bespoke software, expansive trader community, and overall conducive trading environment, including leverage, have served us well.

3. IC Markets Top Cryptocurrency Social Trading Platform (with ZuluTrade)

IC Markets

Forex Panel Score

84

Average Spread

EUR/USD = 0.62
GBP/USD = 0.83
AUD/USD = 0.77

Trading Platforms

MT4, MT5, cTrader

Minimum Deposit

$200

Why We Recommend IC Markets

In our experience with IC Markets, the platform shines when it comes to low-fee trading and its integration with ZuluTrade for social crypto trading. Their top-tier customer service and the flexibility of cTrader, MetaTrader 5, and ZuluTrade offer traders a smooth journey. IC Markets clearly leads the pack for anyone in Australia exploring advanced social trading.

Pros & Cons

  • Low spreads
  • Solid choice of crypto markets
  • Access social trading tools with ZulTrade
  • Limited market analysis resources
  • Live chat can be slow
  • Lacks TradingView Platform

Broker Details

IC Markets Has Tight Spreads and Great Platforms

IC Markets Accounts

There are three account types, Standard, Raw, and cTrader Raw and they differ in cost with the Standard account being the most expensive. That said, even the priciest of IC Markets’ accounts offers competitive spreads and low costs, based on our testing.

ic markets account types brief australia

When we tested average spreads for Standard accounts, IC Markets snagged the top spot, with an impressively tight 1/03 pips. That works out to around US $9.63 per trade. The broke also demonstrated great consistency across periods of high volume and high volatility, as can be seen in the tables below:

ic markets gbpusd spreads

IC markets gbpusd volatility

By signing up via IC Markets’ Australian branch, you have the assurance they’re regulated by the ASIC, and as a consequence, you’ll be offered up to 2:1 leverage. What makes IC Markets most interesting is the ability to integrate with ZuluTrade.

What Is ZuluTrade?

Like eToro, ZuluTrade allows traders to replicate the trades of proven traders and increase the likelihood of being profitable it’s also a way of accessing automated trading, and that’s why we like it. However, unlike eToro, where the broker itself is eToro, ZuluTrade overlays on top of your chosen broker in much the same way as the MetaTrader platforms do. ZuluTrade has partnered with several brokers, but our favoured is IC Markets.

Experienced traders who are copied are known as Signal Providers. These providers have to opt-in to share their trades and be followed, but in return, they are rewarded by the profitability of the strategies they’re following. Followers are the traders who, as you might have guessed, follow Signal Providers.

All traders can both share ideas and leave feedback in the same way you might do on Facebook or Twitter, which adds to the sense that this really is “social trading”

IC Markets Has a Good Selection of Cryptos

While not necessarily the leader in trading product selection, IC Markets has enough cryptocurrency CFDs to keep things interesting. The broker currently boasts 18 tokens, with plans to expand.

ic markets trading products for au

Our Verdict: IC Markets

IC Markets is the best choice for low-fee trading with strong customer support and social trading facilities. In addition to ZuluTrade, crypto traders can select cTrader or MetaTrader 5.

4. FXCM Best No-code Automated Crypto Trading Platform

FXCM

Forex Panel Score

72

Average Spread

EUR/USD = 1.3
GBP/USD = 1.4
AUD/USD = 1.7

Trading Platforms

MT4, TradingView,
Trading Station, Capitalise.ai

Minimum Deposit

$50

Why We Recommend FXCM

Capitalise.ai is a hassle-free way to automate your trade analysis and execution without writing any code. FXCM offers Capitalise.ai as a standalone platform or integrated with its own Trading Station for creating your own trading robots.

Pros & Cons

  • Excellent educational tools
  • Great execution speeds
  • Good support for automation
  • Limited range of crypto products to trade
  • Bank transfer withdrawal fee is high
  • Minimum deposit

Broker Details

FXCM Has Fast Execution Speeds

FXCM Trading Accounts

Comparable to other top brokers, FXCM offers two account types from which to choose. Spreads with the Standard account start at 1.1 pips but include commission, while the Active Trader account goes as low as 0.2 pips.

fxcm account types brief australia

Be aware, however, that indirect trading costs with FXCM can really eat into your profits. The broker requires a minimum deposit of US $300 to begin trading and charges US $50 for each deposit. If you want to open an Active Trader account, you’ll need to pony up US $25,000.

That said, FXCM does stay true to its posted minimums based on our testing. We found that the broker posted an average of 1.47 pips, just a hair above its advertised minimum.

Broker Average Spread Average Spread Cost (USD)
IC Markets 1.03 $9.63
CMC Markets 1.11 $10.10
Fusion Markets 1.19 $11.07
TMGM 1.21 $11.18
Admiral Markets 1.31 $11.96
FXCM 1.47 $13.49
Pepperstone 1.46 $13.52
FP Markets 1.47 $13.60

FXCM Execution Speeds

When we tested execution speed, we were pleasantly surprised to see FXCM firmly in the top 50% for limit orders.

Execution speeds matter because the faster your broker manages to fill your order, the more likely it is that you’ll get the quoted price. Lag times in fulfillment create what’s called slippage between the quoted price and your fill price, which can cost you profits or enlarge your losses.

Automated Crypto Trading with Capitalise.ai

If you like the idea of building your own trading robots with no code, then Capitalise.ai provides a (relatively) hassle-free way of automating your trade research and execution. Capitalise.ai is available with FXCM, as either a standalone platform or integrated with FXCM’s in-house developed Trading Station.

The tool gives you the ability to create your own robots to scan markets, looking for the right conditions and then execute trades for you. This is possible thanks to sophisticated AI and machine learning.

Artificial Intelligence, Machine Learning, and Natural Language Processing technology are not just marketing buzzwords with FXCM, the broker offers Capitalise.ai to empower non-programmers to create trading strategies using plain English rather than coding.

Capitalise.ai is a separate entity from FXCM and sits on top of the broker – FXCM simply executes the trades. You get all the benefits of this established broker but through Capitalise.ai, and using natural language, you’re also able to create automated rules that monitor in real-time market data as well as technical indicators and macroeconomic data.

Additionally, you can access historical data to evaluate how your strategy would have performed over the given data. If you’re happy with the results, you can go one step further and test your strategy using real-time data, again without putting any money at risk. Once proven, the same strategies can be implemented using real money.

FXCM Crypto Products

With just seven cryptos, FXCM might not have what you need if you’re a dedicated cryptocurrency enthusiast.

fxcm au trading products

If, on the other hand, you’re new to crypto and more interested in no-code automation, the broker’s selection of CFDs and other trading products should satisfy you.

Our Verdict: FXCM

High trading costs may dissuade some traders, but we think the opportunity to experiment with Capitalise.ai makes FXCM worth a second look.