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.
Binance – Best Margin Trading Crypto Exchange Overall:
If you have done some research on crypto margin trading, you will definitely have seen the name Binance pop up. Binance is the world's largest crypto exchange based on trading volume, and is one of the best exchanges for Aussies. Binance offers over 600+ coins, with very low fees. It is only 0.1% for each trade, which can be reduced by 25% if you pay using their own token (BNB). If you are a high-volume trader you will also be able to take advantage of further discounted trading fees.
Margin traders will love the wide range of more than 600 trading pairs, and deep liquidity. You can access 10x leverage, and short any coins that you think are on a bear run. Futures trading is also available, which isn't found on most other crypto trading platforms.
- World's largest exchange means deep liquidity
- Over 600+ cryptocurrencies and more than 600 trading pairs
- Access up to 10x leverage on margin trading
- Low trading fees of just 0.1% that can be discounted when paying with BNB coin
- Futures trading available
- Ability to short coins that you think will decrease in value
Margex – Best for Security & No KYC Required:
Margex is #2 in our list of the best margin trading platforms, and one of the big reasons is 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 Artifical 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 acces up to 100x leverage which is quite generous among crypto margin trading platforms.
The main negative of Margex is the limited range of just 8 cryptocurrencies: BTC, ETH, EOS, LTC, XRP, ADA, SOL & YFI. 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
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Bybit – High Leverage up to 100x:
Bybit is the margin trading crypto platform with the highest leverage, allowing up to 100x on some coins, which is much higher than most platforms. FTX only offers up to 20x leverage and other exchanges only have 5x. This is perfect for experienced margin traders that want to maximise their 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 2 million, and more than $10 billion trading volume each day. As a popular crypto trading exchange with over 160+ coins, it boasts high liquidity so you don't need to worry about your order not being filled.
Bybit has low spot trading fees of 0.1% for makers and takers. Besides spot trading, Bybit has derivatives trading, including perpetuals and futures, and the taker fees are just 0.06% and makers 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 160+ 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
FTX Exchange – Best for Low Fee Margin Trading:
FTX is the lowest fee margin trading crypto exchange. If you thought Binance's trading fees of 0.1% were low, FTX's fees will make you check twice that you read it correctly. FTX only charges 0.02% maker fees and 0.07% taker fees. Not only that, if you sign up with this link, you receive 5% off all trading fees for the life of your account! You can also reduce the fees if you hold FTX's native token (FTT) or trade frequently. The founder and CEO of FTX, Sam Bankman-Fried (commonly known as SBF) is a young philanthropist, and donates 1% of all net fees to charities. There is a counter of how much has been donated, and you can even vote for where you want the money to go.
The exchange doesn't just offer low fees, there is also a huge offering of more than 275+ cryptocurrencies, and leverage of up to 20x. The platform was built by traders, for traders and so you can access derivatives, options, volatility products as well as leveraged tokens. If there is something you think is missing, you can even contact SBF via Twitter. He is known to be responsive, and has made quick improvements to FTX following suggestions made directly to him.
- Over 275 cryptocurrencies with up to 20x leverage
- 5% discount on trading fees if you sign up with this link
- Access derivatives, options, volatility products and leveraged tokens
- Extremely low fees of 0.02% for maker and 0.07% for takers
- Generous exchange, that donates 1% of all net fees to effective charities
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 600+ different cryptocurrencies, it is easy to see how KuCoin has gathered over 11 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 600+ 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
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, although we must remind you that margin trading is very risky, and we 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 6 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 6 million users globally
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