Cryptocurrency trading has boomed in popularity in recent years, and I have seen a shift from investors merely wanting to HODL crypto to those that want to trade and take advantage of crypto's volatile swings. That's where crypto futures trading comes in. With futures trading, you don't need to purchase the coin, but instead you are buying contracts that represent the value of the coin at a future date. The biggest advantage of futures trading is that you can profit from price drops, or in other words, you can "short" cryptocurrency. This means that if you think the price of Bitcoin is headed down, you can make money by purchasing the relevant futures contract.
Another big drawcard of futures trading is the ability to use leverage on your trades. You can increase your position and maximise potential gains without locking up large amounts of capital. However, there is also huge risk involved, as you can lose your money very quickly if the prices swing the other way. I do not recommend futures trading for beginners, as it is very risky. You should only trade futures if you have done proper research, and are experienced in cryptocurrency trading, or at least stock and forex trading.
The Best Crypto Futures Exchanges in Australia - Tested and Reviewed in 2023
I have done my research and tested out countless crypto futures exchanges, and compiled this list of the top ones to use in 2023. I want to provide the best, most current information, so I regularly edit my articles. You can trust me to give you the latest updates about any changes to these crypto futures platforms. Here are the best crypto futures exchanges in Australia for 2023:
Best Crypto Futures Exchanges in Australia - Reviews
#1. Bybit – Best Overall - Low Fees & 100x Leverage:
Bybit is the #1 crypto futures exchange in Australia and the two biggest reasons for this are the low fees and the high leverage. The fees on Bybit are extremely low for futures trading, at just 0.01% for market makers and 0.06% for market takers. This is extremely competitive and means more money in your pocket to maximise your profits from successful trades. You can access leverage of up to 100x which is huge from a crypto futures exchange. Some other trading platforms only allow up to 5x or 10x leverage since crypto is such a risky asset, but Bybit gives their users a high margin if they are happy to take that risk.
Bybit has a Testnet platform that is free for their users to access. This is a demo version of Bybit that allows you to practise your trading strategies risk-free. There is no money deposited into the Testnet platform, but you use demo Bitcoin instead to start trading. This is an excellent way for first-time crypto futures traders to get their toes wet before depositing their real funds into the account.
The customer support at Bybit is excellent which is surprising, coming from a large crypto trading platform. Usually large crypto sites do not invest in their customer service as they believe that they will still attract customers without it. Bybit has bucked the trend and has 24/7 live chat support to assist you whenever you run into any issues.
Bybit is lightning-fast, so you don't have to worry about the platform being overloaded. It has an ultra-fast matching engine, which allows 100,000 trades per second, and allows users to conduct high-frequency trading (HFT) as the market data is pushed every 20 milliseconds. Crypto futures traders on Bybit can trade with peace of mind as Bybit has incredibly high 99.99% system functionality.
- Access over 280+ different cryptocurrencies
- FREE $10 BTC when you sign up with our link and deposit $100
- Low fees of 0.01% for market makers, and 0.06% for market takers
- Up to 100x leverage
- 24/7 live chat customer support
- Testnet platform where you can practise trading risk-free
- Extremely fast and reliable platform
- Fiat gateway for instant AUD crypto purchases
#2. MEXC – More than 1,520+ coins:
MEXC is the crypto futures trading platform with the highest number of cryptocurrencies in this list, with over 1,520+ cryptocurrencies. There are also 2,100+ trading pairs, and the fees are very competitive, at 0.0% for makers and 0.01% for takers. MEXC boasts super-fast charts, with accurate and precise movements, so you can trust that your trades are being executed at precisely the time and price you want.
MEXC also offers live chat support, as well as ticketed email support in case you find yourself with any issues. Registration is quick and easy, so you can get started trading futures straight away. If you want to sign up, use my link here, which gives you $30 USDT FREE, plus 10% discount off all your trading fees!
- More than 1,520+ different cryptocurrencies available
- Up to 125x leverage on futures trading
- Low futures trading fees of 0.0/0.01% (maker/taker)
- Super-fast charts, with accurate and precise movements
- Live Chat support and email support if you need assistance
#3. Kine – Best decentralised futures exchange (DEX):
Kine is unique in that it is a futures trading exchange that offers both a CEX (centralised exchange) and DEX (decentralised exchange) in the same platform. If you prefer to use traditional CEX signup methods, with your name and email address, that is possible. However, if you like to remain anonymous then you can access Kine DEX by simply connecting your crypto wallet.
Kine has low trading fees of 0.05%, plus zero gas fees for transactions, which is unique among decentralised exchanges. They also use a peer-to-pool mechanism which provides unlimited liquidity to their traders, and very low slippage of less than 1%.
If you are a large volume trader, you will enjoy the generous welcome offer available at Kine. If you deposit $200 you receive 10 USDT bonus, deposit $1,000 and receive 50 USDT, and if you deposit $5,000 you receive a huge 8,000 USDT! Sign up here to claim this bonus.
- Low fees of 0.05% with no gas fees
- Unlimited liquidity and low slippage under 1%
- Leverage of 200x
- Copy trading is available - copy successful traders automatically
- Choose from CEX or DEX within the same exchange
#4. Weex – Highest leverage of 200x:
Weex has the highest leverage of any crypto futures platform I have reviewed. You can access up to 200x leverage, which is much higher than the standard 100x found on most exchanges. The trading fees are low, at 0.02% for makers and 0.06% for takers, but what makes Weex stand out is that they have the deepest liquidity, meaning that any trades you wish to make, no matter how large, will be filled quickly with minimal slippage.
Weex even has a guarantee that slippage will not exceed a set limit, and if it does, they will pay you back the difference, which is an excellent offer we have not heard of on any other exchange. When you trade on Weex, you can have peace of mind, as it is a very secure exchange, and they even have a user protection fund with 1,000 BTC in reserve. This is used to cover any losses incurred from unexpected events such as hacks or security breaches.
- Low fees of 0.02/0.06% (maker/taker)
- Deepest liquidity and very low slippage
- Highest leverage of 200x
- Copy trading feature supported so you can profit from others' experience
- Very secure crypto futures exchange
#5. KuCoin – Free Crypto Futures Trading Bot:
KuCoin is a huge crypto futures trading platform, with over 20 million users around the world, and up to 100x leverage. They support over 700+ cryptocurrencies for spot trading, and while the entire range is not available for futures trading, there is still a wide selection of coins. KuCoin has low trading fees for futures, at just 0.02% for makers and 0.06% for takers. If you pay trading fees using their native token (KCS), you receive a 20% discount which lowers your rates even more.
What makes KuCoin stand out is their free trading bots that allow you to automate your trading so you can maximise your profits even when you are asleep. They have a trading bot for futures which you can experiment with to see if it works for you; if you don't like using automated trading, of course you can traded futures manually as well.
- Bank-level security to protect users' assets
- Up to 100x leverage
- Low futures trading fees of 0.02% / 0.06% (maker/taker)
- Over 700+ coins supported on the exchange
- Free trading bots to automate your strategy
- Very popular crypto futures exchange, with over 11 million users worldwide
#6. Margex – Most Secure - Protected from Price Manipulation:
Margex has built their crypto futures platform to be extremely safe and reliable for their users, and they have done an excellent job of it. They value their users' privacy, and you can trade anonymously, with no personal details required to use the exchange. Your funds are protected by bank-grade multi-layer security, with 100% of crypto assets stored offline in cold storage.
Margex has an exclusive system called MP Shield, that was developed to protect their users from price manipulation of the market. The system protects their clients from the drawbacks of price manipulation that often triggers unfair liquidation on other platforms, by combining liquidity from 12+ providers, using AI-based algorithmic technology, and continual monitoring of suspicious trading activity. Margex also does not offer illiquid assets that can be easily used in pump and dumps; instead they only offer a small range of 8 cryptocurrencies: BTC, ETH, EOS, LTC, XRP, ADA, SOL and YFI.
Trading on Margex is cheap, with fees of 0.019% for makers and 0.060% for takers, and you can access leverage up to 100x. The registration is quick and takes less than a minute, with no need for personal identity verification. Margex is really one of the best crypto futures platforms available.
- Trade anonymously, with no personal details required to register
- MP Shield System protects users from price manipulation of the market
- Maker/taker fees of 0.019% / 0.060%
- Trade futures with up to 100x leverage
- 100% of crypto assets stored offline in cold storage, protected by bank-grade multi-layer security
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