Cryptocurrency has evolved from an obscure form of payment preferred by anonymous users, to a mainstream and well-recognised investment instrument. Now crypto traders can do more than spot trading, as the market has grown to include margin trading to take advantage of an extremely volatile asset class.
Aussies can choose from several different margin trading crypto platforms, but which is the best one to use? The most crucial point is that you use an exchange that is secure and trusted. After having conducted tons of research, I can confirm that all the margin trading exchanges in this article are safe and legitimate.
You also need to decide what you personally are looking for in a margin trading platform. Think about how many cryptocurrencies you want available, the amount of leverage, and any additional features you like. Finally, you should consider all the fees involved with the exchange, including deposit, withdrawal and trading fees. If you plan to use AUD to deposit, and you wish to withdraw your money into a bank account, be sure to choose an exchange that supports fiat.
Best Margin Trading Crypto Exchanges in Australia - Tested and Reviewed in 2023
Top Margin Trading Platforms in Australia - Reviews
#1. Bybit – Best Margin Trading Crypto Exchange Overall:
Bybit is the best margin trading crypto platform in Australia, due to its security, low trading fees, and high leverage, up to 100x on some coins. Many other popular trading platforms only offer up to 20x leverage, and others as little as 5x. This makes Bybit a great place to margin trade - the higher you can leverage, the more you can maximise returns on small changes in market value.
Bybit has been around for a few years now, established in 2018 and now has a user base of over 10 million, and more than $10 billion trading volume each day. As a popular crypto trading exchange with over 280+ coins, it boasts high liquidity so you don't need to worry about your order not being filled.
Bybit's spot trading fees of 0.1% for makers and takers are very low. Besides spot trading, Bybit has derivatives trading, including perpetuals and futures, and the taker fees are just 0.06% and maker fees 0.01%. There is even a demo account you can try out, to trade risk-free before depositing your real money.
If you run into any issues on Bybit, you can rest assured your problems can be solved by the excellent 24/7 Live Chat support.
- Up to 100x leverage on some coins
- High trading volume and large user base means deep liquidity on 280+ coins
- Low derivatives fees of 0.01/0.06% for makers/takers
- Spot trading, futures trading and perpetuals are all available
- 24/7 Live Chat customer support
#2. MEXC – Best for Massive Range of Trading Pairs:
MEXC is one of the best margin trading crypto platforms available in Australia, with a huge range of more than 1,520+ coins, and an impressive 2,110+ trading pairs, which is more than any other crypto platform. It is a dedicated crypto trading platform that experienced traders will enjoy.
There are plenty of markets to explore, low trading fees, quantitative spot trading, and even copy trading. Copy trading means you can search for successful traders, and automatically copy their trades exactly, so you can profit alongside them. This is beneficial for newcomers to margin trading, as well as experienced traders who do not have the time to research and analyse charts.
- $30 FREE USDT & 10% discount off trading fees
- More than 1,520+ coins, and 2,110+ trading pairs (most in the market)
- Zero trading fees for spot and 0.0/0.01% for futures
- Copy Trading available
- Quantitative spot grid trading
#3. Kine – Best DEX (Decentralised Exchange):
Kine makes it high on my list of margin trading exchanges due to its unique nature, offering both CEX (centralised exchange) and DEX (decentralised exchange) in the same site. For those you like trading on a CEX, this is readily available on Kine, and if you prefer trading anonymously using your private crypto wallet, you can easily switch to the DEX site.
Kine's trading fees are only 0.05%, with zero gas fees. Many other decentralised exchanges charge users the gas fee, but Kine utilises Layer 2 Network to provide zero gas fees for traders.
Kine also has a peer-to-pool mechanism which provides unlimited liquidity to their traders, and very low slippage of less than 1%. This means orders are filled instantly and you will receive better prices on your trades.
For new users, Kine offers a great incentive to start trading, if you sign up with my unique link here. Deposit $200 and receive 10 USDT bonus, deposit $1,000 to receive 50 USDT, and deposit $5,000 to receive a massive 8,000 USDT! Sign up now and redeem your bonus.
#4. Weex – Highest Leverage and Deepest Liquidity:
Weex is best for those you want to trade with maximum leverage, as it offers up to 200x, which is far higher than most other exchanges. The fees are low for trading futures, at 0.02% for makers and 0.06% for takers, and Weex's liquidity is very impressive, higher than any other platforms, including MEXC and Bitget. This market depth means you can always place your trades with confidence; no matter how large they are, they will be filled quickly, with little to no slippage.
You can trade with confidence that your funds and information is secure at Weex, as they have industry-leading security protocol. There is an AI-powered risk control system, and dual-level account-risk management system. If something unforeseen happens, user losses are covered by the user protection fund, which holds 1,000 BTC in reserve. But you shouldn't have to worry about this at all, as Weex is audited by four security vendors to ensure it is always meeting the highest levels of security.
- Highest leverage of up to 200x
- Deepest liquidity with minimal slippage
- Low trading fees of 0.02/0.06% (maker/taker) for futures
- Copy Trading supported so you can profit from the experience of other traders
- Very secure exchange with 1,000 BTC reserve to cover any unforeseen losses
#5. KuCoin – Best for Free Trading Bots:
KuCoin offers margin trading with up to 10x leverage on coins such as BTC, ETH, SOL, XRP, CRO, SAND and MATIC, and has competitive trading fees of 0.1% which can be reduced by 20% if you pay using KuCoin's coin (KCS). Users can also trade futures, where you can use up to 100x leverage on Bitcoin and Ether and up to 20x on many other cryptocurrencies.
With a large selection of more than 700+ different cryptocurrencies, it is easy to see how KuCoin has gathered over 20 million customers from across the globe. They have even implemented free bots that you can use to automatically trade. This allows serious traders to set up certain parameters to maximise their earnings at all hours of the day.
- Up to 10x leverage when margin trading
- Futures trading with up to 100x leverage on BTC and ETH, and 20x on other coins
- Over 700+ cryptocurrencies supported
- Low fees of 0.1% which can be reduced when you pay with KuCoin's token (KCS)
- Free trading bots included on the exchange so you can automate your trades
#6. Margex – Best for Security & No KYC Required:
Margex makes my list of the best margin trading platforms because of the emphasis that they put on security. The exchange stores 100% of digital assets in cold storage offline meaning that it is out of reach of online hackers. Your funds are always secured with bank-level protection. To go a step further, Margex allows users to sign up and use their platform anonymously, which is great for those that are wary of putting their personal identity online. No KYC is required, which is quite rare in the world of cryptocurrency exchanges.
Margex has also taken further steps to protect their users, by implementing a system called MP Shield that prevents price manipulation on their exchange. They use various measures such as combined liquidity from 12+ providers, continual monitoring, and Artificial Intelligence to make sure prices aren't manipulated, which would lead to unfair liquidation.
Another excellent drawcard of Margex is the low trading fees. Makers are charged just 0.019% per trade, and takers 0.060%. Users can access up to 100x leverage which is quite generous among crypto margin trading platforms.
The main negative of Margex is the limited range of just 18 cryptocurrencies:. Although this may be an issue for some experienced traders, the upside is that users will not be caught in pump and dumps with low market cap, illiquid coins.
- 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 exchanges in Australia
#7. Kraken – Easy Margin Trading
Kraken is the easiest margin trading crypto exchange you can find, with a basic interface and Live Chat support in case you run into any problems. It is a great way for someone that wants to start margin trading to learn the ropes. However, I must remind you that margin trading is very risky, and I do not recommend it for beginners.
When trading on Kraken, it is simple to access up to 5x leverage, by just clicking on a button from within the markets page. You can margin trade 19 different coins such as BTC, ETH, ADA and XRP, and trading fees are reasonable, 0.16% for makers and 0.26% for takers.
Kraken has been around for over a decade, founded in 2011, and has grown to more than 9 million users. Although it is an exchange from USA, it is well-regarded in Australia, and many Aussies prefer to use Kraken over their competitors.
- Easy to use for margin trading
- Up to 5x leverage on 19 popular cryptocurrencies
- 0.16% maker fees and 0.26% taker fees
- Established in the USA in 2011, it has over 9 million users globally
Other useful articles: Best crypto exchanges in Australia