Cryptocurrency Trading
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Table of Contents
What is crypto CFD trading?
Crypto CFD trading involves buying and selling Contracts for Difference (CFDs) representing digital currencies like Bitcoin, Ethereum and Solana.
By trading CFDs that represent the underlying cryptocurrency, you won’t actually own the digital crypto itself.
Therefore, there are no security or technology issues to worry about, or digital keys to keep safe.
Rather, you are trading the price movement of the underlying asset, with no additional risks associated with owning the crypto itself.
Cryptocurrency trading is known for its high volatility, providing opportunities to profit from rapid price movements.
It’s accessible 24/7, allowing you to engage in the market at any time, whether you’re speculating on short-term trends or investing in long-term potential.
Start your crypto CFD trading journey here with MarketMates!
Trade with no markup on spread, swap, or commission – with Subscription-Based Trading, you pay just one flat monthly fee, or get a FREE account for trades under US $1M.
The benefits of trading cryptocurrency CFDs
24-hour market
Unlike other financial markets, the forex market operates 24 hours a day, five days a week, allowing you to trade at any time that suits you, regardless of your location
Trade long or short
With forex trading,you have the flexibility to profit in both rising (long) and falling (short) markets, giving you more opportunities to make profitable trades
Diverse trading opportunities
With a wide range of currency pairs to choose from, you’ll be able to find trading opportunities in most economic conditions and market types
Access to leverage
Let your trading benefit from high leverage opportunities, allowing you to control a larger position with a smaller capital investment, potentially increasing your profits
High volatility
Cryptocurrency markets are highly volatile, offering substantial opportunities to profit from rapid price movements
24/7 market
Unlike most other traditional markets, cryptocurrencies can be traded 24/7, allowing you to seize opportunities at any time convenient
Long and short trading opportunities
You can trade both long and short, benefiting from both rising and falling markets
Leverage
Crypto CFDs allow you to use leverage to control larger positions with a smaller initial investment, potentially magnifying both profits (and losses)
Hedging
Crypto CFDs can be used to hedge existing positions or to protect against potential losses in other investments
Frequently asked questions
What are the risks of crypto CFD trading?
- High volatility: The same price swings that create profit opportunities also lead to significant risk
- Sudden crashes or rallies: Unexpected market events can cause rapid price movements, potentially resulting in significant losses if you’re not adequately prepared to trade in such an environment
- Liquidity risks: Some smaller crypto CFDs may lack liquidity, making it harder to buy or sell large amounts without affecting the price
- Price slippage: In times of high volatility or low liquidity, you may experience price slippage, meaning your order may be filled at a price different from the one you intended
- Leverage risks: Using leverage in a volatile market like crypto can amplify losses as well as gains
- Margin calls: If your position suddenly moves against you, your broker may require you to deposit additional funds to maintain the required margin. Failure to meet a margin call can result in liquidation of your position
How do I trade crypto CFDs?
- Open a Subscription-Based Trading account with MarketMates, where you can trade a range of crypto CFDs all from one simple platform. We offer a FREE account up to US $1M a month trading volume
- Fund your account with fiat currency (e.g. AUD, USD) or another cryptocurrency
- Decide which crypto CFD to buy or sell based on technical or fundamental analysis
- Use stop-loss and take-profit orders to manage your risk
- Closely monitor the market for news or technology updates that may impact the price
- Use leverage wisely and understand the risks associated with it, particularly in the volatile crypto market
What is the difference between cryptocurrency CFD trading and forex CFD trading?
- Asset type: Forex involves fiat currencies issued by governments, while cryptocurrencies are digital and decentralised
- Volatility: Cryptocurrencies tend to be more volatile than traditional fiat currencies
- Trading hours: Forex has trading hours divided into four main sessions around the world, while cryptocurrencies are traded 24/7 with no set session times
- Liquidity: Forex markets generally have higher liquidity compared to smaller or lesser-known cryptocurrencies
- Market sentiment: Forex is influenced by economic data and government policies, while the price of crypto CFDs is driven by market sentiment and technological developments
What are the best crypto CFDs to trade?
- Bitcoin (BTC): As the largest cryptocurrency by market capitalisation, Bitcoin is often considered a benchmark for the industry. It offers high volatility, creating both significant rewards and risks
- Ethereum (ETH): Ethereum is the second-largest cryptocurrency, and is known for its role in decentralised applications (dApps). Its price can be influenced by developments in the decentralised finance (DeFi) and non-fungible token (NFT) sectors
- Binance Coin (BNB): As the native token of the Binance exchange, BNB benefits from the growth and success of the Binance ecosystem. This ecosystem is the largest cryptocurrency exchange in the world. It encompasses a wide range of financial tools and platforms, all built on blockchain technology
- Tether (USDT): This is a stablecoin pegged to the US dollar. USDT can be used to hedge against market volatility and for trading other cryptocurrencies
- Ripple (XRP): XRP is often considered a potential competitor to traditional payment systems, and benefits from its adoption by several major financial institutions
Is crypto CFD trading suitable for beginner traders?
No, crypto CFD trading is generally not recommended for beginner traders. This is because it is a type of trading known for its extreme volatility.
While it offers the potential for high returns, it also comes with very significant risks which are not recommended for beginner traders. Risks can include:
High volatility: Cryptocurrencies are known for their extreme price fluctuations, which can lead to substantial losses
Leverage risk: CFDs allow you to control larger positions with a smaller initial investment, but this also amplifies both your potential profits and losses
Complexity: Understanding the intricacies of cryptocurrency markets and also CFD trading can be challenging for beginners
Emotional strain: The emotional rollercoaster of trading cryptocurrencies can lead to impulsive decision-making and serious losses for inexperienced traders who are not accustomed to managing their emotions
If you’re a beginner trader, it’s advisable to start with a less volatile and more stable asset, and focus on learning the basics of rules-based trading before considering crypto CFD trading.
Why MarketMates?
Marketmates is a fairer, more transparent way to trade from a broker who is on YOUR side
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Price Chart
A powerful chart for you to use with all the customisable options you’d expect from TradingView.
Change the ticker, the time view, the type of chart you wish to view, and then add your favourite indicators.
Cryptocurrency Market Overview
This market data list provides a broad overview of crypto market performance, including:
- Market cap
- Fully diluted market cap
- Price
- Available coins
- Total coins
- Traded volume
- Change percent
Crypto Screener
Get all the information you need about your favourite cryptocurrencies through this handy screening chart tool.
See both technical and fundamental information together in one chart, plus buy or sell ratings. Use the slider at the base of the screener to view more columns and information.
Sort your favourite cryptos by a range of views and criteria including:
- Top gainers
- Top losers
- Assets reaching new all-time highs and lows
- New 52-week highs and lows
- New monthly highs and lows
- Most volatile
- Overbought and oversold
- Outperforming the SMA50 and underperforming the SMA50
Crypto Heat Map
Find out where the big movements are happening with this heat map showing you where all the action is in today’s market.
See all the movers and shakers for a birds-eye view of current crypto price action.
Filter and view by cryptocurrency to show all the macro information you need right at your fingertips.
Crypto Market News
Keep track of what’s happening in the crypto markets with this daily news summary, filtered to bring you the most important crypto news as it happens.
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