Cryptocurrency trading has boomed in popularity in recent years, and we 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. We 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 2022
We have done our research and tested out many crypto futures exchanges, and compiled our list of the top ones to use in 2022. At Debt Bombshell, we want to provide the best, most current information, so we regularly edit our articles. You can trust us to give you the latest updates about any changes to these crypto futures platforms. Here are the best crypto futures exchanges in Australia for 2022:
Best Crypto Futures Exchanges in Australia - Reviews
Bybit – Best Overall - Low Fees & 100x Leverage:
Bybit is #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 160+ different cryptocurrencies
- 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
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
Other useful articles: Best crypto margin trading exchanges
KuCoin – Free Crypto Futures Trading Bot:
KuCoin is a huge crypto futures trading platform, with over 11 million users around the world, and up to 100x leverage. They support over 600+ 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 600+ coins supported on the exchange
- Free trading bots to automate your strategy
- Very popular crypto futures exchange, with over 11 million users worldwide
FTX – Huge Range of 275+ Coins:
FTX is a hugely popular cryptocurrency futures platform, with a massive range of 275+ coins, up to 20x leverage and very low trading fees. FTX only charges 0.02% for makers and 0.07% for takers, for futures trading and spot trading. Usually crypto exchanges have a very low fee for futures, but a higher fee for spot trading, but this is not the case with FTX. If you hold FTX's native coin (FTT), you can reduce your trading fees even lower, which is great. The easiest way to reduce your trading fees is by using this link, which gives you 5% off all your trading fees! Another amazing thing that FTX does, is donate 1% of all their net fees to the world's most effective charities.
FTX was created by Sam Bankman-Fried, who is very dedicated to making his exchange the best it can be for users. He has always been open to suggestions, and can be reached easily on Twitter. If you have any criticisms of the platform, or suggestions for additional features, you can get in touch, and he has responded quickly in the past to feedback he's gained from users.
- Huge range of over 275+ cryptocurrencies
- Up to 20x leverage supported
- Low futures fees and spot trading fees of 0.02% / 0.07% (makers/takers)
- 5% discount on trading fees if you use this link
- Reduce trading fees if you own FTX's native coin (FTT)
- FTX donates 1% of all net fees to charities
- Contact CEO and Founder Sam Bankman-Fried with any feedback about the exchange
MEXC – Highest Leverage of 125x:
MEXC is the crypto futures trading platform with the highest amount of leverage in this list, with up to 125x. They offer over 200+ cryptocurrencies, and trading fees are very competitive, at 0.02% for makers and 0.06% for takers. They boast 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.
- More than 200+ different cryptocurrencies available
- Up to 125x leverage on futures trading
- Low trading fees of 0.02% / 0.06% (maker/taker)
- Super-fast charts, with accurate and precise movements
- Live Chat support and email support if you need assistance
Other useful articles: MEXC review