Best Crypto Futures Trading Platforms in 2024
Written by Charles
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This article has been reviewed by crypto market experts at SCM to ensure all the content, sources, and claims adhere to the highest standards of accuracy and reliability.
Last Updated on June 26, 2024
As we navigate through 2024, crypto futures trading continues to gain traction, offering traders unique opportunities to hedge risks and speculate on price movements with leverage.
However, the sheer number of platforms available can be overwhelming.
This article aims to guide you through the best crypto futures trading platforms of 2024, highlighting their key features, benefits, and what sets them apart in an increasingly competitive market.
Whether you’re a seasoned trader or a newcomer eager to dive into futures trading, this comprehensive guide will help you find the platform that best suits your needs and trading style.
#1. Bybit
| Feature | Description |
|---|---|
| Founding Date | March 2018 |
| Location | Singapore |
| Reputation | User-friendly, robust trading engine, comprehensive futures trading options |
| Number of Users | 1. 6 Millions |
| Daily Trading Volume | Often exceeds $10 billion |
| Supported Coins | Over 100 cryptocurrencies |
| Trading Pairs | More than 250 |
| Leverage | Up to 100x |
| Types of Futures Contracts | Perpetual, Quarterly |
| Trading Fees | Maker: 0.025% (rebate), Taker: 0.075% |
| Security Measures | 2FA, cold storage, multi-signature withdrawals, security audits |
| Customer Support | 24/7 via live chat, email, social media |
| Order Types | Market, Limit, Conditional, Stop-Loss, Take-Profit |
| Pros | High liquidity, user-friendly, advanced features, robust security, 24/7 support |
| Cons | Limited fiat support, regulatory concerns, high leverage risks |
Bybit, a prominent cryptocurrency exchange, was founded in March 2018 and is headquartered in Singapore.
It has quickly gained a strong reputation for its user-friendly interface, robust trading engine, and comprehensive range of crypto futures trading options.
Bybit serves over 1.6 million users worldwide and consistently ranks within the top 5 crypto futures exchanges by trading volume.
With millions of registered users worldwide and a daily trading volume often exceeding $10 billion, Bybit has cemented itself as a significant player in the crypto trading industry. The platform supports over 100 cryptocurrencies, offering over 250 trading pairs with leverage of up to 100x.
Bybit provides perpetual and quarterly futures contracts, catering to various trading preferences.
Perpetual contracts do not have an expiry date, while quarterly contracts settle every three months. The trading fees on Bybit follow a maker-taker model, typically at 0.025% (rebate) and taker fees at 0.075%.
Security is a top priority for Bybit, featuring two-factor authentication (2FA), cold storage for most user funds, multi-signature withdrawal processes, and regular security audits.
Additionally, Bybit offers 24/7 customer support through live chat, email, social media channels, an extensive help center, and educational resources.
The platform provides several order types for trading crypto futures: market orders, limit orders, conditional orders, stop-loss orders, and take-profit orders.
Bybit’s strengths include high liquidity, an intuitive interface, advanced trading features, robust security measures, and dedicated customer support.
However, it has some limitations, such as limited fiat support, regulatory concerns, and the risks associated with high leverage.
#2. BingX
BingX, founded in 2018, is headquartered in Singapore and was established by a team of professionals from top VC firms, financial institutions, and internet companies.
Based out of offices in Canada, the EU, and Australia, BingX has built a reputation for diversified trading opportunities.
The platform is recognized for its user-centric approach and innovative features in the crypto futures trading space, earning accolades such as TradingView’s Best Crypto Exchanges award in 2021 and 2022.
BingX serves over 10 million users globally and has a daily trading volume of approximately $290 million, highlighting its significant presence in the market.
BingX supports over 250 cryptocurrencies and offers 853 trading pairs, providing users with ample options for trading. The platform allows for leverage of up to 125x for crypto futures trading.
BingX offers two types of futures contracts: perpetual futures, which do not have an expiration date, and quarterly futures, which expire every three months.
The trading fees for futures on BingX are competitive, with a maker fee of 0.02% and a taker fee of 0.05%. VIP users can benefit from reduced fees based on their trading volume.
Security is a top priority for BingX, employing measures such as two-factor authentication (2FA), cold storage for most user funds, and regular audits by firms like Mazars.
The platform has not suffered any major security breaches, enhancing its reputation for reliability. Customer support is available 24/7 via live chat and email, ensuring users can get assistance whenever needed.
BingX offers various order types for crypto futures trading, including market orders, limit orders, stop-limit orders, and stop-market orders.
One of the standout features of BingX is its copy trading functionality, allowing users to follow and replicate the trades of over 1,000 active traders on the platform.
This feature is prevalent and well-developed, making BingX a preferred choice for many traders.
Pros and Cons of BingX:
| Pros | Cons |
|---|---|
| Supports over 250 cryptocurrencies | High-leverage options pose a significant risk |
| High leverage up to 125x | Some features may not be available in all countries |
| User-friendly interface | Limited fiat support, focusing mainly on crypto-to-crypto trading |
| Strong security measures, including 2FA and cold storage | |
| 24/7 customer support via live chat and email | |
| Innovative copy trading feature |
#3. Phemex
| Feature | Details |
|---|---|
| Founding Date | November 2019 |
| Founders | Jack Tao and former Morgan Stanley executives |
| Location | Singapore |
| Reputation | Strong, known for reliability, user-friendly platform, high liquidity, and competitive fees |
| Number of Users | Over 1 million |
| Daily Trading Volume | Over $1 billion |
| Supported Coins | Over 50 |
| Futures Contracts | Around 30 trading pairs |
| Leverage | Up to 100x on various pairs |
| Futures Contract Types | Linear and inverse perpetual contracts |
| Maker Fee | 0.025% |
| Taker Fee | 0.075% |
| Security Measures | Cold storage, multi-signature wallets, 2FA, regular audits, DDoS protection |
| Customer Support | 24/7 via live chat, email, Help Center |
| Order Types | Market, limit, stop-limit, stop-market, conditional orders |
| Pros | User-friendly, high liquidity, competitive fees, strong security, 24/7 support, high leverage |
| Cons | Risks of high leverage, limited fiat support, relatively new platform |
Phemex, founded in November 2019 by a group of former Morgan Stanley executives led by Jack Tao, is headquartered in Singapore.
It has quickly gained a strong reputation in the crypto futures trading market due to its user-friendly platform, high liquidity, and competitive trading fees.
Known for its reliability and robust security measures, Phemex has over 1 million registered users and handles an average daily trading volume of over $1 billion.
The platform supports over 50 cryptocurrencies and offers futures contracts for around 30 trading pairs, providing leverage up to 100x on various pairs, including popular pairs such as BTC/USD and ETH/USD.
Phemex offers linear and inverse perpetual contracts with competitive trading fees: a maker fee of 0.025% and a taker fee of 0.075%.
The platform employs several security measures to protect its users, including cold storage for most user funds, multi-signature wallets, Two-Factor Authentication (2FA), regular security audits, and protection against DDoS attacks.
Additionally, Phemex offers 24/7 customer support through live chat, email, and a comprehensive Help Center with FAQs and guides.
Phemex provides a range of order types for trading crypto futures, including market orders, limit orders, stop-limit orders, stop-market orders, and conditional orders.
The platform’s pros include its user-friendly interface, high liquidity and trading volume, competitive trading fees, strong security measures, 24/7 customer support, a wide range of supported cryptocurrencies and futures contracts, and high-leverage options.
However, the cons include the risks associated with high leverage, limited support for fiat currencies, and the potential lack of some features compared to more established platforms due to its relatively recent establishment.
#4. MEXC
MEXC, founded in 2018 and headquartered in Singapore, has quickly established itself as a reputable platform for future cryptocurrency trading in the market.
Despite limited transparency regarding its founding team, MEXC has gained significant traction with over 6 million users globally and a daily trading volume exceeding $1 billion.
The platform is known for supporting a wide range of cryptocurrencies, offering over 200 different coins and more than 500 trading pairs.
MEXC provides a variety of futures contracts, including both perpetual and quarterly futures, with leverage options up to 125x depending on the specific asset and market conditions.
The trading fees are competitive, with a maker fee of 0.02% and a taker fee of 0.06%.
Security is a top priority for MEXC, which employs two-factor authentication (2FA), cold wallet storage for most user funds, regular security audits, and anti-phishing codes.
MEXC offers 24/7 customer support through live chat, email, and a comprehensive help center.
Traders on MEXC have access to various order types, including market orders, limit orders, stop-limit orders, stop-market orders, trailing stop orders, and take-profit orders.
The platform’s pros include its wide range of supported assets, high-leverage options, competitive fees, strong security measures, and user-friendly interface.
However, it does have some cons, such as limited transparency regarding its founders, varying regulatory compliance by region, and complexity for beginners due to its extensive features and options.
#5. Bitget
| Aspect | Details |
|---|---|
| Founding Date | 2018 |
| Founders | Not publicly disclosed |
| Location | Singapore |
| Reputation | A prominent platform for crypto futures trading with a strong, user-friendly interface and robust security measures |
| Number of Users | Over 2 million globally |
| Daily Trading Volume | Exceeds $5 billion |
| Supported Coins | Over 200 cryptocurrencies |
| Futures Contracts | USDT-Margined and Coin-Margined contracts |
| Trading Pairs | Wide range with leverage options from 1x to 125x |
| Futures Contracts Types | USDT-Margined Contracts (settled in USDT), Coin-Margined Contracts (settled in underlying cryptocurrency) |
| Trading Fees | Maker Fee: 0.02%, Taker Fee: 0.06% |
| Security Measures | Cold storage, 2FA, anti-phishing code, insurance fund |
| Customer Support | 24/7 live chat, email support, comprehensive help center |
| Order Types | Market Order, Limit Order, Stop-Limit Order, Stop-Market Order, Trailing Stop Order |
| Pros | Wide range of supported coins, high leverage options, user-friendly interface, strong security measures, comprehensive customer support |
| Cons | Limited information on founders, complexity for beginners with high-leverage trading, geographic restrictions on some features due to regulatory constraints |
Bitget, founded in 2018 and headquartered in Singapore, has quickly established itself as a significant player in the future trading of cryptocurrency.
While the founders of Bitget are not publicly disclosed, the platform’s reputation speaks for itself, boasting over 2 million registered users globally.
Known for its user-friendly interface, robust security measures, and comprehensive range of trading options, Bitget enjoys a strong standing in the cryptocurrency community.
The platform handles a daily trading volume exceeding $5 billion, underscoring its prominence among crypto futures exchanges.
Bitget supports over 200 cryptocurrencies and offers a variety of futures contracts, including USDT-Margined and Coin-Margined contracts.
Traders can access a wide range of trading pairs with leverage options varying from 1x to 125x.
The futures contracts available on Bitget are categorized into USDT-Margined Contracts, settled in USDT, and Coin-Margined Contracts in the underlying cryptocurrency, such as BTC or ETH.
The trading fees on Bitget are competitive, with a maker fee of 0.02% and a taker fee of 0.06%.
Security is a top priority for Bitget, which employs multiple measures to protect users’ funds and data.
These include cold storage for many user funds, two-factor authentication (2FA), an anti-phishing code, and an insurance fund to protect users against potential losses due to unforeseen circumstances.
Bitget offers robust customer support, including 24/7 live chat, email support, and a comprehensive help center with guides, FAQs, and tutorials.
Traders on Bitget can utilize various order types, such as market orders, limit orders, stop-limit orders, stop-market orders, and trailing stop orders.
These options cater to different trading strategies and risk management needs. Despite its many advantages, Bitget has drawbacks, including limited transparency regarding its founders and the complexity of high-leverage trading for beginners.
Additionally, some features may not be available in all regions due to regulatory constraints.
#6. BYDFi
| Feature | Details |
|---|---|
| Founding Date | 2019 |
| Headquarters | Singapore |
| User Base | Hundreds of thousands |
| Daily Trading Volume | Several billion dollars |
| Supported Coins | Over 200 |
| Trading Pairs | Over 300 |
| Futures Contracts | Perpetual and quarterly |
| Leverage | Up to 125x |
| Trading Fees | Maker: 0.02%, Taker: 0.06% |
| Security Features | 2FA, cold storage, regular security audits, anti-phishing |
| Customer Support | 24/7 live chat, email, comprehensive help center, multilingual support |
| Order Types | Market orders, limit orders, stop-limit orders, stop-market orders |
| Pros | Wide range of cryptocurrencies, high leverage, competitive fees, robust security, excellent customer support |
| Cons | Limited information on founders, relatively new, high leverage risks for inexperienced traders |
Founded in 2019, BYDFi has quickly established itself as a reputable player in the cryptocurrency futures trading market.
Headquartered in Singapore, the platform is known for its user-friendly interface, competitive fees, and a wide range of supported cryptocurrencies.
While the specific details of the founders are not publicly disclosed, BYDFi has garnered a significant user base with hundreds of thousands of registered users and a daily trading volume reaching several billion dollars.
BYDFi supports over 200 different cryptocurrencies and offers more than 300 trading pairs. Platform traders can access perpetual and quarterly futures contracts with leverage options up to 125x.
The trading fees are competitive, typically around 0.02% for maker fees and 0.06% for taker fees.
Security is a top priority for BYDFi, which employs robust measures such as two-factor authentication (2FA), cold storage for most user funds, regular security audits, and anti-phishing features.
Customer support is available 24/7 through live chat, email, and a comprehensive help center, with multilingual backing to cater to a global audience.
The platform supports various order types for futures trading, including market orders, limit orders, stop-limit orders, and stop-market orders.
BYDFi’s pros include a wide range of supported cryptocurrencies, high-leverage options, competitive fees, robust security, and excellent customer support.
However, the platform has limited information on its founders and may be less trusted than more established exchanges.
Additionally, the high-leverage options can pose significant risks for inexperienced traders.
#7. Deribit
| Aspect | Details |
|---|---|
| Founding Date | 2016 |
| Founders | John Jansen (CEO), Marius Jansen (COO) |
| Location | Panama |
| Reputation | High liquidity, advanced trading features, robust security measures |
| Number of Users | Approximately 1 million |
| Daily Trading Volume | Over $2 billion |
| Supported Coins | Bitcoin (BTC), Ethereum (ETH) |
| Futures Contracts | Bitcoin Futures, Ethereum Futures |
| Trading Pairs | BTC/USD, ETH/USD |
| Leverage | Up to 100x |
| Futures Contracts Types | Perpetual Contracts, Fixed Maturity Contracts |
| Futures Trading Fees | Maker Fee: -0.025%, Taker Fee: 0.075% |
| Security Measures | Cold storage, Two-Factor Authentication (2FA), Regular Audits |
| Customer Support | Email support, ticketing system, active community support |
| Order Types | Limit, Market, Stop, Stop-Limit, Take-Profit, Trailing Stop |
| Pros | High liquidity, advanced trading features, competitive fees, robust security |
| Cons | Limited coin selection, complex for beginners, regulatory concerns |
Founded in 2016 by John Jansen (CEO) and Marius Jansen (COO), Deribit has established itself as a prominent player in the cryptocurrency derivatives market.
Based in Panama, the platform has earned a solid reputation for focusing on trading futures in Bitcoin and Ethereum.
Deribit is mainly known for its high liquidity, advanced trading features, and robust security measures, making it a preferred choice among professional traders.
With approximately 1 million users and a daily trading volume exceeding $2 billion, Deribit supports trading primarily in Bitcoin (BTC) and Ethereum (ETH).
The platform offers a range of futures contracts, including both perpetual agreements, which have no expiration date, and fixed maturity contracts, which expire on set dates.
Traders can engage in BTC/USD and ETH/USD pairs with leverage options of up to 100x.
Deribit’s fee structure is competitive, featuring a maker fee rebate of -0.025% and a taker fee of 0.075%.
Security is a top priority for Deribit, with most user funds stored in cold storage, two-factor authentication (2FA) for account security, and regular internal and external audits to ensure the platform’s integrity.
Customer support is available through email, a ticketing system, and active community forums, ensuring quick and efficient resolution of issues.
The platform supports various order types, including limit, market, stop, stop-limit, take-profit, and trailing stop orders, providing traders with the flexibility they need to execute their strategies.
Despite its many strengths, Deribit has some limitations.
The platform primarily supports BTC and ETH, which may not appeal to traders seeking a broader selection of cryptocurrencies.
Additionally, its advanced features can be complex for beginners, and its headquarters in Panama may raise regulatory concerns for some users.
#8. OKX
| Feature | Details |
|---|---|
| Founding Date | 2017 |
| Founders | Star Xu |
| Location | Malta |
| Reputation | Highly regarded for comprehensive futures trading |
| User Base | Millions of users worldwide |
| Daily Trading Volume | Frequently exceeds $1 billion |
| Supported Coins | Over 300 cryptocurrencies |
| Futures Contracts | Perpetual swaps, quarterly futures, bi-quarterly futures |
| Trading Pairs | Hundreds of pairs, both crypto-to-crypto and crypto-to-fiat |
| Leverage | Up to 125x |
| Trading Fees | Maker fee: 0.02%, Taker fee: 0.05% |
| Security Measures | Cold and hot wallet storage, multi-signature authentication, regular audits, 2FA, anti-phishing |
| Customer Support | 24/7 live chat, email support, help center, community forums |
| Order Types | Market, limit, stop, trigger, trailing stop, advanced limit orders |
| Pros | Wide range of cryptocurrencies, high leverage, competitive fees, robust security, comprehensive support |
| Cons | Complex for beginners, risks with high leverage, regulatory concerns |
Founded in 2017 by Star Xu, OKX is a prominent cryptocurrency exchange headquartered in Malta that operates globally.
It has built a strong reputation in the industry, particularly for its extensive and sophisticated futures trading platform, attracting both retail and institutional traders.
OKX is well-regarded for its robust suite of trading tools and features, which contribute to its position as a top exchange regarding daily trading volume and user base.
OKX supports over 300 cryptocurrencies, offering various futures contracts, including perpetual swaps, quarterly futures, and bi-quarterly futures.
Traders can choose from hundreds of trading pairs, with leverage options reaching up to 125x for specific contracts.
The exchange’s trading fees are competitive, with maker fees at 0.02% and taker fees at 0.05%, potentially lower based on trading volume and holdings of OKB, OKX’s native token.
Security is a paramount concern for OKX, employing measures such as cold and hot wallet storage solutions, multi-signature authentication, regular security audits, two-factor authentication (2FA), and anti-phishing protocols.
The platform provides comprehensive customer support, including 24/7 live chat, email support, a detailed help center, and community forums.
Traders on OKX have access to various order types, including market orders, limit orders, stop orders, trigger orders, trailing stop orders, and advanced limit orders (e.g., post only, fill, or kill).
While the platform offers numerous advantages, such as a wide range of supported cryptocurrencies, high-leverage options, competitive fees, and robust security measures, it can be complex for beginners and involves risks associated with high leverage.
Additionally, regulatory issues in certain jurisdictions can pose challenges.
#9. Kraken
| Aspect | Details |
|---|---|
| Founding Date | 2011 |
| Founders | Jesse Powell |
| Location | San Francisco, California, USA |
| Reputation | Secure and reliable, strong reputation in crypto futures trading |
| Number of Users | Over 9 million globally |
| Daily Trading Volume | $500 million to $1 billion |
| Supported Coins | Over 185 cryptocurrencies |
| Futures Contracts | Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple |
| Trading Pairs | Over 600 |
| Leverage | Up to 50x |
| Futures Contracts | Perpetual and fixed-maturity futures contracts |
| Trading Fees | Maker rebate up to 0.02%, taker fee up to 0.05% |
| Security Measures | 2FA, cold storage, GSL, security audits, penetration testing, bug bounty program |
| Customer Support | 24/7 via live chat, email, help center |
| Order Types | Market, limit, stop-loss, take-profit, trailing stop, settled orders |
| Pros | High liquidity, robust security, wide range of assets, competitive fees, user-friendly UI, 24/7 support |
| Cons | Time-consuming verification, limited availability in some regions, complex fee structure |
Kraken, founded in 2011 by Jesse Powell, is headquartered in San Francisco, California, USA. It officially launched in September 2013 and has since established itself as one of the most secure and reliable cryptocurrency exchanges.
With a reputation for robust security measures and transparency, Kraken is well-regarded in the crypto futures trading market, providing a user-friendly platform that caters to both beginners and experienced traders.
Kraken boasts over 9 million users globally, with a daily trading volume generally between $500 million and $1 billion.
The platform supports over 185 cryptocurrencies, offering futures contracts for major cryptocurrencies like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ripple.
Kraken features over 600 trading pairs, with leverage options of up to 50x for futures trading.
The exchange offers both perpetual futures contracts and fixed-maturity futures contracts.
Trading fees on Kraken Futures are based on a maker-taker model, where makers receive a rebate of up to 0.02%, and takers incur a fee of up to 0.05%.
Kraken prioritizes security, employing two-factor authentication (2FA), cold storage for most user funds, Global Settings Lock (GSL) to prevent unauthorized changes to account settings, regular security audits, penetration testing, and a bug bounty program.
Customer support at Kraken is available 24/7 through multiple channels, including live chat, email support, and a comprehensive help center with FAQs and guides.
The platform provides various order types for futures trading, such as market orders, limit orders, stop-loss orders, take-profit orders, trailing stop orders, and settled orders.
Kraken’s pros include high liquidity and robust trading volume, strong security measures, a wide range of supported cryptocurrencies and trading pairs, competitive futures trading fees, a user-friendly interface with advanced trading features, and 24/7 customer support.
However, the verification process can be time-consuming, the platform is unavailable in all countries (including certain U.S. states), and its complex fee structure can confuse new users.
#10. Binance
| Feature | Details |
|---|---|
| Founding Date | July 2017 |
| Founders | Changpeng Zhao (CZ) and Yi He |
| Location | Initially in China, now multiple locations worldwide |
| Reputation | Highly reputable, particularly for futures trading |
| Number of Users | Over 120 million |
| Daily Trading Volume | Approximately $20 billion |
| Supported Coins | Over 350 |
| Futures Contracts | Over 90 |
| Trading Pairs | Exceeds 500 |
| Leverage | Up to 125x |
| Futures Contract Types | USDT-Margined, Coin-Margined, Binance Leveraged Tokens |
| Trading Fees | Maker Fee: 0.02%, Taker Fee: 0.04% (reductions available) |
| Security Measures | 2FA, data encryption, SAFU, regular security audits |
| Customer Support | 24/7 multilingual support via live chat, email, help center, and social media channels |
| Order Types | Limit, Market, Stop-Limit, Stop Market, Trailing Stop, Post Only, Time in Force Options |
| Pros | High liquidity, extensive cryptocurrency range, advanced features, competitive fees, strong security |
| Cons | Regulatory scrutiny, complex for beginners, potentially slow customer support |
Binance, founded in July 2017 by Changpeng Zhao (CZ) and Yi He, initially started its operations in China.
However, due to regulatory challenges, it relocated its headquarters to Malta in 2018 and now operates from multiple locations worldwide.
Binance has earned a reputation as one of the largest and most reputable cryptocurrency exchanges globally, particularly noted for its robust platform, high liquidity, and advanced trading features in spot and futures trading.
The exchange boasts over 120 million registered users globally, with an average daily trading volume of around $20 billion, although this figure can fluctuate significantly with market conditions.
Binance supports over 350 cryptocurrencies and offers over 90 futures contracts, with a wide variety of trading pairs exceeding 500. The leverage available on Binance Futures can go up to 125x, depending on the contract.
Binance offers various futures contracts, including USDT-Margined Futures, Coin-Margined Futures, and Binance Leveraged Tokens. The trading fees are competitive, with a maker fee of 0.02% and a taker fee of 0.04%, which can be further reduced based on the user’s VIP level or if they use Binance Coin (BNB) to pay fees.
Regarding security, Binance employs multiple measures such as Two-Factor Authentication (2FA), advanced data encryption, and the Secure Asset Fund for Users (SAFU), which allocates 10% of all trading fees received into a fund to protect users in extreme cases.
Regular security audits are also conducted to ensure the safety of users’ assets.
Customer support is available 24/7 in multiple languages through live chat, email, and a comprehensive help center with guides and FAQs. Binance also provides support via various social media channels.
For futures trading, Binance offers several order types: Limit Order, Market Order, Stop-Limit Order, Stop Market Order, Trailing Stop Order, Post Only Order, and Time in Force Options (GTC, IOC, FOK).
Pros and Cons of Binance
Pros:
- High liquidity is one of the highest globally.
- Extensive range of cryptocurrencies supported.
- Advanced trading features with a wide array of order types.
- Competitive fees are further reduced using BNB.
- Robust security measures, including SAFU.
Cons:
- Faces regulatory scrutiny in multiple countries.
- The wide array of features can be overwhelming for beginners.
- Some users report slow customer support response times during high-traffic periods.
#11. BitMEX
| Feature | Description |
|---|---|
| Founding Date | 2014 |
| Founders | Arthur Hayes, Ben Delo, Samuel Reed |
| Location | Seychelles |
| Reputation | High-leverage futures trading, significant trading volumes, regulatory issues |
| User Base | Over a million registered users globally |
| Daily Trading Volume | Billions of dollars |
| Supported Coins | Primarily Bitcoin and a few significant altcoins |
| Futures Contracts | Perpetual contracts, fixed-date futures contracts |
| Trading Pairs | BTC/USD, ETH/USD, etc. |
| Leverage | Up to 100x for Bitcoin futures, lower for other altcoins |
| Trading Fees | Perpetual Contracts: Maker: -0.0250%, Taker: 0.0750%<br>Fixed-Date Futures: Maker: -0.0250%, Taker: 0.0750% |
| Security Measures | Cold storage, 2FA, manual withdrawal processing, regular audits |
| Customer Support | Email support, support center, typical response within 24 hours |
| Order Types | Limit, Market, Stop Limit, Stop Market, Trailing Stop, Take Profit, Take Profit Limit |
| Pros | High leverage, good liquidity, advanced trading features, robust security |
| Cons | Regulatory issues, complex for beginners, limited asset selection, slow customer support |
BitMEX (Bitcoin Mercantile Exchange) was founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed.
Headquartered in Seychelles, BitMEX is renowned in the cryptocurrency trading community for its high-leverage futures trading and substantial trading volumes.
Despite facing regulatory and legal issues in recent years, it remains a significant player in the crypto futures market.
With over a million registered users globally, BitMEX typically sees daily trading volumes in the billions of dollars, although this can vary with market conditions.
The platform primarily focuses on Bitcoin and a few significant altcoins, offering a variety of futures contracts, including perpetual contracts and fixed-date futures contracts.
It supports several trading pairs, such as BTC/USD and ETH/USD, with leverage up to 100x for Bitcoin futures contracts and lower leverage for other altcoins.
BitMEX provides two main types of futures contracts: perpetual contracts, which have no expiry date and mimic a margin-based spot market, and fixed-date futures contracts, which expire on a set date in the future and are settled at that time.
The trading fees for perpetual contracts are -0.0250% for makers and 0.0750% for takers, while the costs for fixed-date futures contracts are the same.
Security is a crucial focus for BitMEX, which employs multiple measures to protect user funds and data.
These include storing most funds in multi-signature cold wallets, offering two-factor authentication (2FA) for account security, manually processing withdrawals to ensure security, and conducting regular audits and penetration testing.
Customer support is available through email and a comprehensive support center, with typical response times within 24 hours. The platform also provides extensive documentation and tutorials to assist users.
BitMEX offers a variety of order types, including limit orders, market orders, stop limit orders, stop market orders, trailing stop orders, take profit orders, and take profit limit orders. This range of options allows traders to execute complex trading strategies effectively.
While BitMEX’s high leverage and advanced trading features make it attractive to experienced traders, its complexity can overwhelm beginners.
Additionally, the platform has faced significant legal challenges and fines, and its asset selection is limited to major cryptocurrencies. Customer support can also be slow at times and is limited to email.
Despite regulatory hurdles, BitMEX remains a significant player in crypto futures trading, offering robust features for experienced traders.
How do you select/choose the right Crypto Futures Trading Platform?
When choosing a platform for crypto futures trading, assessing specific criteria that affect your trading efficiency and security is essential.
The following aspects should guide your selection process.
- Liquidity and Trading Volume: High liquidity and significant trading volume ensure you can enter and exit positions with minimal slippage. Look for platforms with consistent, high-volume trade activity to maximize the likelihood of executing trades at your preferred prices.
- Fees and Costs: Understand the fee structure before committing to a platform. Trading fees include maker fees (for providing liquidity) and taker fees (for taking liquidity). Some platforms offer lower fees for higher monthly trading volumes, so consider your anticipated activity level when evaluating costs.
- Security and Insurance: Prioritize platforms that implement robust security measures to protect your assets. Ensure they offer two-factor authentication (2FA) and cold storage options. The presence of an insurance fund can add an extra layer of confidence in case of unforeseen events.
- User Interface and Experience: The trading platform’s interface should be intuitive and user-friendly, enabling you to navigate and trade efficiently. A disorganized or complex interface can hinder your ability to deal effectively.
- Leverage and Margin Requirements: Determine your comfort level with risk when considering leverage options. Platforms offer varying leverage levels, and it’s essential to understand their margin requirements, which can affect your potential profits or losses.
- Variety of Futures Products: A diverse selection of futures products, such as different cryptocurrencies and contract expiration terms, can provide more opportunities for trading strategies. Consider platforms that offer a range of products to suit your trading goals.
- Technical Indicators and TradingView Integration: Efficient trading platforms incorporate technical indicators and may offer integration with TradingView, enhancing your ability to analyze and anticipate market trends.
Look for platforms with a comprehensive set of analytical tools.
Selecting the right crypto futures trading platform requires careful consideration of these critical factors. Doing so can enhance your trading decisions and better protect your investments.
Best Apps For Futures Trading Crypto?
Selecting the right platform is crucial for your trading success when you’re looking to trade crypto futures. In 2024, several apps stand out for their robust features, user-friendliness, and strong reputation.
Binance Futures is often the go-to choice for many traders. It offers a comprehensive list of trading pairs and has a trusted track record in the industry.
- Leverage: Variable, up to 125x
- Fees: Competitive fee structure with maker and taker fees
Coinbase Advanced caters mainly to US-based users, providing a regulated space to engage in futures trading with the benefit of advanced trading features.
- Leverage: Lower compared to others, focused on compliance
- Fees: Generally higher than competitors, reflecting regulatory costs
For high leverage and a variety of tradable coins, MEXC might catch your attention. It stands out for its up to 200x leverage on futures trades.
- Leverage: Up to 200x
- Fees: Low 0% maker fee and 0.01% taker fee
Gate.io and PrimeXBT are other notable mentions that offer both perpetual and delivery futures. They have built a name for supporting various altcoins and offering additional services like copy trading.
Here’s a summarized table for a quick comparison:
| Platform | Leverage | Fees | Special Features |
|---|---|---|---|
| Binance | Up to 125x | Competitive | Extensive trading pairs |
| Coinbase | Lower leverage | Generally high | Regulated for US users |
| MEXC | Up to 200x | 0% maker, 0.01% taker | High leverage, variety in altcoins |
| Gate.io | Various | Varied | Perpetual and delivery futures |
| PrimeXBT | Various | Competitive | Copy trading and multiple assets |
Choose a platform that aligns with your trading style and the level of risk you’re willing to take. Remember to consider security, liquidity, and the platform’s fee structure before making your decision.
Additional Trading Offerings
While exploring the best crypto futures trading platforms, you’ll find additional offerings beyond traditional futures contracts. These services cater to various trading strategies and preferences, enhancing your trading experience.
- Copy Trading and Social Trading Features: Some platforms offer copy trading and social trading features, allowing you to mimic the trades of successful investors. For instance, PrimeXBT provides a copy trading service where you can follow and replicate the strategies of seasoned traders, potentially capitalizing on their trading experience.
- Leveraged Tokens and Derivative Products: Derivatives trading is a standard fixture on many exchanges, offering instruments such as options and swaps. Leveraged tokens are also available, amplifying exposure to cryptocurrency price movements. For example, Binance Futures provides a variety of leveraged tokens, enabling you to trade with higher leverage without the complexity of managing margin.
- Staking and DeFi on Futures Exchanges: Many futures trading platforms integrate staking and DeFi (Decentralized Finance) services. This allows you to earn interest on your cryptocurrency holdings or partake in DeFi offerings directly through the platform. OKX and Gate.io are examples of exchanges incorporating these features, offering more than just trading tools; they also provide a broader ecosystem for managing your digital assets.
Frequently Asked Questions
When diving into the world of cryptocurrency futures, it’s essential to have reliable information. Below are answers to some common queries about crypto futures and where to trade them.
Who offers crypto futures?
Major cryptocurrency exchanges like Binance, Coinbase Pro, and Kraken offer crypto futures trading. These platforms have established themselves as reputable platforms for crypto contract trading on various digital assets.
What are the best crypto futures trading platforms?
Binance Futures, Bybit, and Kraken are highly regarded platforms for crypto futures trading. These platforms offer a robust trading environment with various tools and features for beginner and experienced traders.
Which app is best for crypto future trading?
For mobile app efficiency and user experience, Binance Futures and Bybit have dedicated apps highly rated by users for crypto futures trading. They provide comprehensive features with the convenience of trading on the go.
Which is the cheapest cryptocurrency futures trading platform in the USA?
Based on trading fees and market liquidity, Kraken is known to be relatively cost-effective for US-based users. Its fee structure is competitive, catering to both high-volume and retail investors.
Which cryptocurrency exchange has the highest number of futures pairs?
Binance supports many futures pairs, offering diverse trading options for cryptocurrencies beyond the most popular assets like Bitcoin and Ethereum.
Which platforms offer the best free crypto futures trading experience?
Platforms offering demo accounts, like Bybit, allow you to practice futures trading without real money. They provide a risk-free environment in which to familiarize yourself with the trading interface and strategies.
How do you choose the best futures broker for small account holders?
Look for a platform with a low minimum deposit, a small contract size, and a user-friendly interface. Consider features like leverage options and account security, which are essential even for small accounts.
What is the best platform for crypto futures trading?
The best platform depends on your personal trading needs, but Binance Futures stands out for its extensive range of tools, liquidity, and overall market prevalence.
Does Coinbase allow futures trading?
Yes, Coinbase offers futures trading through its advanced platform, providing a regulated space for trading these derivatives.
Can you trade futures on Crypto.com?
Crypto.com has expanded its offerings to include futures trading, giving users access to these financial instruments alongside spot and margin trading options.
Where can I trade crypto futures in the US?
You can trade crypto futures in the US on regulated exchanges like CME Group and cryptocurrency-specific platforms like Kraken, which both comply with American regulations.
What is the best crypto broker for the future?
The best crypto broker for futures trading often includes considerations like security, user interface, fees, and market liquidity. Binance Futures and Kraken are frequently rated well for their comprehensive offerings and reliability.
