In general, regulation means everything in the trading world. That’s why we advise traders to use top-tier licensed firms such as BTCMarkets. 

However, there are a few things traders should understand. Primarily, the regulation protects domestic citizens. That’s why Australians will mostly say good about this firm. But is this truly the case or not? Let’s find out in this unbiased BTCMarkets review.

Regulated By:	ASIC
Is This Company Safe?	Yes
Known Websites:
Have Warnings From:	N/A
Registered In:	Australia
Operating Since:	2013
Trading Platforms:	Proprietary platform; mobile apps
Maximum Leverage:	N/A
Minimum Deposit:	N/A
Deposit Bonus:	Not available
Trading Assets:	Cryptos
Free Demo Account:	Not Available
How To  Withdraw From This Company?	To withdraw the funds from your account you can simply access the designated withdrawal area and request a withdrawal via crypto or AUD. But be aware of withdrawal fees and potential withdrawal issues a few users reported. In any case, if you have trouble withdrawing your funds from this exchange, contact us for refund advice.

Legal Info: Is BTCMarkets Legit?

When it comes to legal transparency, you can’t find any flaws with this company. It’s quite rare to see a crypto exchange or wallet provider provide all these details, starting with the legal name, registration, and license details. As can be seen in the Australian Business Register (ABR), the company was registered in June 2013 and obtained a license from ASIC in the same month.

Generally, ASIC’s role is to enforce laws to protect Australian consumers, investors, and creditors. And what about other residents? For example, traders from the UK or Germany should seek companies with FCA and BaFin licenses, respectively. Can they expect legitimate services from BTCMarkets? Surely, but they won’t be protected as Australian traders.

Who Are BTCMarkets’s Clients?

Through the reviews and website traffic analysis, it’s clear the company offers services mostly to top-tier licensed countries. These include mainly: 

• Australia
• United States
• United Kingdom
• Germany
• Canada

From BTCMarkets reviews, we can see a few traders from Japan, Korea, and Hong Kong. However, the company is not licensed by any authorities in the mentioned countries—except for Australia, logically.

Therefore we invite you to share your opinion about this exchange in our comments section below. Ultimately, if you have any issues with them, reach our refund specialists directly for refund advice.

Traders Reviews

Generally, BTCMarkets Reddit comments would reveal everything we need about their services. But there are none. On the other hand, traders trust Trustpilot reviews less and less. Especially when they see spit comments on platforms like Bittrust.

All in all, with too many complaints about delayed transactions and even deposit issues, traders might consider other investment options. For more tips on what to avoid and what not, check our InvestQHub and Bitcoin Prime reviews. In case you experience any potential issues with these firms, get in touch with our team for assistance.

Investment Costs

On the positive side, using the BTCMarkets app at least includes transparent fees. BTC market pairs include maker fees of -0.05%, while takers can expect 0.2%.

On the other hand, there are certain benefits to trading AUD/USDT market pairs. If you have a 30-day trading volume higher than $500, you can expect lower and lower fees. Of course, depending on your volume. The starting ones are pretty hefty at 0.85%. For withdrawals, you can only expect free withdrawal of the AUD, while all cryptos include different fees.

Bonuses

Trading bonuses are quite often with exchanges that regularly add new cryptocurrencies. In the case of BTCMarkets Australia, there are only a bit over 40 options available. Consequently, there’s no need for any specific bonuses.

BTCMarkets Trading Features

Besides regular exchange services, the company also offers OTC (over-the-counter) trading for large sums, wallet services, and, most importantly, API features. With all these options, it’s no wonder the company is among the best exchanges in Australia.

Trading Platforms Available

As can be seen from the BTCMarkets website, the exchange platform is fully web-based. With TradingView chart support, traders have plenty of analytical options. 

Another benefit is that traders can track live buying and selling orders, the last 50 trades, and much more. With all this, it’s not surprising the company was awarded Digital Exchange of the Year in 2022.

Available Trading Assets

One of the downsides of the BTCMarkets crypto exchange is the availability of only a bit over 40 cryptocurrencies. Compared to other top-tier exchanges, it’s quite a mediocre offer. Still, safety will always be ahead of quantity. 

Anyway, the offer consists of: 

• Bitcoin
• Ethereum
• Tether
• Solana and a few more.

Account Types

Generally, crypto exchanges rarely have any minimum deposit requirements. The situation appears to be the same with the BTCMarkets exchange. Therefore, if someone sends you $1 worth of crypto, that’s enough to get started. If you have ever traded with them, traders don’t have any specific account options compared to brokerages.

Mobile Trading App

Indeed, yes. If you are looking to trade, swap, or stake cryptos, you can use the company’s iOS and Android apps as your online wallet. Even though there are only a bit over 10k downloads on PlayStore, with the company’s credibility, you shouldn’t have any issues.

Demo Account

Since the company doesn’t offer leveraged trading, you don’t need a demo account, especially with free platform access. However, you’ll need BTCMarkets login details to test out all the features.

Education

Besides articles about online safety and cryptos in general, traders can also get support about Self-managed super fund options. Among these options, there’s no educational program for learning about cryptos.

BTCMarkets Withdrawal

When it comes to withdrawals, the procedure is quite simplified. You can either withdraw funds via crypto or AUD. The key difference is that AUD withdrawals don’t include any fees. 

However, you can expect a 0.0002 BTC fee, 0.01 XRP, 0.005 ETH, and so on for crypto withdrawals. On the positive side, all fees are transparent.

Customer Support

When it comes to contact options, the company is quite poor. With only a ticket submitting form available, you’ll have to wait a bit for possible solutions. Fairly, it is not the most convenient option, but it is what it is.

Key Information To Consider About BTCMarkets?

In summary, the company presents a great solution for Australian residents. Everyone else may have similar options in their domestic countries. 

In any case, with a few reports about potential issues with this exchange, we advise traders to prepare themselves. We have knowledge of refunds in the worst-case scenario. Even if they don’t need it here, they might need it somewhere else. After all, the first meeting with our experts doesn’t cost anything. Don’t hesitate to book yours today.

FAQ Section

What is BTCMarkets?

BTCMarkets is an Australian-based crypto exchange founded by Martin Bajalan in Melbourne in 2013.

Is BTCMarkets Legit?

Indeed, yes. BTCMarkets has operated with an ASIC license since its foundation, making it a reputable Australian exchange.

Is BTCMarkets a Wallet?

In fact, the company also offers online crypto wallet features with 100% Australian-based custody. If you experience any issues, contact us for advice.