Best Crypto Leverage Trading Platform in Canada

Best Canadian Crypto Leverage Trading Platforms

1. Phemex – best NO KYC crypto leverage trading platform of Canada
2. Bybit – best leverage trading crypto exchange
3. BingX – best exchange to leverage trade crypto
4. Binance – offers the highest crypto leverage
5. Bitget – best app for crypto leverage trading
6. Kraken– biggest crypto exchanges in the us
7. DYDX – best decentralized exchange with leverage
8. GMX – best for short-term leverage trading crypto
9. Deribit – crypto leverage trading canada
10. PrimeXBT – leveraged crypto trading canada

#1. Phemex

Founded in 2019 by former executives and developers from Morgan Stanley, Phemex stands out as a competitive leverage trading platform for the Canadian market. Specializing in cryptocurrency derivatives, Phemex offers a sophisticated trading experience catering to both novices and experienced traders.

Main Features of Phemex:

• Leverage: Phemex provides up to 100x leverage on contracts for significant cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP, Chainlink (LINK), and Tezos (XTZ).
• Fees: The platform boasts compellingly low costs, with maker fees at -0.025% and taker fees at 0.075%, presenting an opportunity for cost-effective trading.
• Performance: Capability to execute 300,000 transactions per second and accommodate up to 1 million users concurrently, reflecting a robust system infrastructure.
• Trading tools: It includes advanced features like sub-accounts, trading bots, conditional orders, and customizable risk limits, enhancing trading strategies and portfolio management.
• Interface: Phemex provides a user-friendly and customizable trading environment accessible across multiple devices, ensuring a seamless trading experience.
• Security: The exchange prioritizes security with a zero-fee cold wallet system, a hierarchical deterministic wallet system, and a hardware security module to safeguard your assets.
• Support: A 24/7 customer support network through email, chat, and social media to assist you at any time.

Drawbacks of Phemex:

• Phemex does not support fiat currency transactions; trading is limited to cryptocurrencies only.
• The exchange offers mainly perpetual and linear contracts without spot trading options.
• Access is restricted in certain regions, including the US, China, and Singapore, which may affect users who are residents or citizens of these countries.

 

#2. Bybit

Bybit stands as a prominent leverage trading exchange, garnering a user base that exceeds 2 million alongside a daily trading volume crossing the $10 billion mark.

This platform specializes in cryptocurrency leverage trades, presenting an opportunity for you to engage in the markets with significant potency.

Main Features and Advantages:

• High Leverage: You can leverage your trades up to 100x, especially for leading cryptocurrencies like Bitcoin, Ethereum, XRP, and EOS.
• Cost Efficiency: Bybit is known for its low trading fees and competitive spreads, which can benefit your trading cost structure.
• Market Performance: You’ll find that Bybit provides high liquidity and execution speeds, which are critical for seizing market opportunities.
• Trading Tools: The platform offers advanced trading tools, including various order types such as limit, market, conditional, and trailing orders, complemented by vital features such as stop-loss and take-profit options, catering to strategic trade management.
• Accessibility: With a user-friendly interface, Bybit is accessible via web, mobile, and desktop platforms, ensuring a smooth trading experience regardless of your device.
• Security: Bybit doesn’t take security lightly. The exchange implements rigorous measures, including cold storage for funds, SSL encryption to secure data, and multi-signature wallets to authorize transactions.
• Support: The support team at Bybit is available around the clock, assisting with live chat, email, and social media channels whenever needed.

Drawbacks and Limitations:

• Crypto-Only Transactions: Bybit does not support fiat currency transactions. Deposits and withdrawals must be conducted using cryptocurrencies.
• Trade Options: The exchange offers perpetual and inverse futures contracts but does not feature spot trading or other derivative types.
• Geographical Restrictions: Certain regions, like the US and the UK, are restricted from accessing Bybit, so it’s essential to consider your location and the platform’s service areas.

 

#3. BingX

BingX emerged as a fresh and innovative leverage trading platform that came into operation in 2023. This Canadian-based exchange has rapidly gained attention due to its distinctive blend of features tailored to meet the demands of leverage traders.

Key Features:

• High Leverage: You can access up to 150x leverage on significant cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash contracts. This high leverage allows you to amplify your trading capacity.
• Fee Structure: BingX stands out with zero trading fees. Interestingly, it features opposing maker fees, rewarding you for placing limit orders.
• Low Margin Requirements: With the high leverage and low margin requisites, you can manage more prominent positions using less capital, potentially increasing your returns.
• Fair Pricing and Risk Management: A dynamic funding rate and a robust liquidation engine work together to ensure pricing remains fair and transparent while carefully managing risk.
• User Experience: The interface is simple yet elegant, aiming to provide an intuitive and pleasing trading journey.
• Security and Compliance: The platform prioritizes security, adheres to regulations set by the Canadian Securities Administrators (CSA), and is backed by external auditing.
• Support: You’re never alone in your trading activities, as BingX extends a dedicated 24/7 customer service via multiple phone, email, and chat channels.

Considerations:

However, BingX does encompass certain limitations:

• Limited Trading Instruments: The platform supports only four cryptocurrencies and offers perpetual contracts.
• Lack of Educational Support: There’s a shortage of a demo account or educational material, which can be a stumbling block for novice traders.
• Platform Accessibility: BingX operates exclusively through a web-based platform, with no mobile or desktop applications currently available.

Despite these constraints, BingX could be viable for your leverage trading needs, especially if you value high-leverage capabilities and a user-friendly environment within a regulated framework.

 

#4. Binance

Binance is the world’s largest cryptocurrency exchange, boasting a user base of over 15 million and a staggering daily trading volume surpassing $20 billion.

This prominence isn’t accidental; Binance appeals to a global audience with its diverse offerings and features.

When you venture into leverage trading on Binance, you’ll find generous leverage options that reach up to 125x on significant cryptocurrencies such as Bitcoin, Ethereum, and Binance’s own Binance Coin (BNB).

With this kind of leverage, your trading strategies can amplify potential gains but remember that they also increase the risk of possible losses.

Key Features and Advantages:

• Leverage: Up to 125x for specific pairs.
• Fees: As low as 0.02% for makers and 0.04% for takers.
• Discounts: Up to 50% fee discounts when using BNB tokens.
• Liquidity: High liquidity with various trading pairs.
• Trading Tools: Range from limit to trailing orders.
• Platforms: Accessible via web, mobile, and desktop.
• Security: This includes an SAFU fund for user protection.

The platform is renowned for its trading opportunities and its secure and robust system architecture, which supports your trading journey.

Binance operates with a defense strategy comprising a Secure Asset Fund for Users (SAFU) and a sophisticated multi-tier and multi-cluster system design.

Furthermore, they maintain a responsive customer support team ready to assist daily.

Notable Drawbacks:

• Interface: This can be intricate for newcomers.
• Reliability: Potential for system overloads during peak times.
• Regulatory: Faces scrutiny in various jurisdictions, imposing limitations for specific users.

Remember, as you engage with the platform, you might encounter a steep learning curve due to its complex interface, and periods of high market activity could lead to system delays.

Keep abreast of regulatory changes impacting your trading activities as Binance navigates various legal landscapes, particularly in North America.

 

#5. Bitget

Established in 2018, Bitget has carved a niche as a progressive leverage trading platform headquartered in Singapore.

It caters primarily to your needs if you’re looking to engage with Bitcoin, Ethereum, Litecoin, and EOS contracts—with the added advantage of utilizing up to 100x leverage.

When considering trading costs, Bitget stands out with its low fees. You can expect competitive spreads that start at 0.04% for makers and 0.06% for takers.

The platform’s performance is optimized for high speed and stability, handling 100,000 transactions per second while maintaining 99.99% system availability.

Trading on Bitget is not just about leverage; the platform offers diverse tools, including:

• Various order types: limit, market, plan, and iceberg
• Copy trading
• Dual currency investment
• Grid trading

Should you prefer trading on the go or from the comfort of a desktop environment, the platform’s user-friendly interface covers web, mobile, and desktop applications.

Bitget’s commitment to security and compliance is evident in its regulations by the Monetary Authority of Singapore (MAS) and the Australian Transaction Reports and Analysis Centre (AUSTRAC).

Furthermore, should you require assistance, Bitget has dedicated customer support available around the clock through chat, email, and phone.

However, Bitget does have some limitations you should be aware of:

• You cannot perform fiat currency deposits or withdrawals, as they only handle crypto transactions.
• The platform is focused solely on USDT-margined and coin-margined contracts.
• You’ll find a more limited selection with only four cryptocurrencies and perpetual contracts for leverage trading.

Despite these concerns, Bitget’s features and strengths present a compelling case for your consideration as a leverage trading platform in Canada.

 

#6. Kraken

Established in 2011, Kraken is one of the world’s oldest and most respected leverage trading platforms. With its US-based operations, Kraken serves as a reputable platform for traders interested in the cryptocurrency market.

Your journey in leverage trading on Kraken can extend up to a robust 50x leverage on popular cryptocurrencies such as Bitcoin, Ethereum, and XRP.

You will find that the platform offers a favorable fee structure that benefits both makers and takers. The fees start as low as 0.02% for makers and 0.06% for takers, though these rates may change depending on leverage level and trade volume.

Kraken prides itself on high liquidity and volume, ensuring you have various trading pairs and contract types, including perpetual, futures, and options.

The platform provides robust trading tools and analytics for your strategy needs. You can access different order types, such as limit, market, and stop orders.

Furthermore, Kraken presents a sophisticated yet user-friendly interface accessible via web, mobile, and desktop, facilitating trade execution and management.

It is also recognized for its security and regulation.

Kraken has established a comprehensive security program, including a dedicated security team, and adheres to a global compliance framework, ensuring your trading is conducted on a secure platform.

However, you should be aware of certain limitations. For altcoin leverage, Kraken may offer lower leverage than its competitors.

Some users find the platform’s interface rather intricate, which could pose a challenge if you are new to trading. Also, during market turbulence, you might experience system overloads and downtime.

For support, Kraken’s professional team is at your service 24/7 through chat, email, and phone. Whether you’re a seasoned trader or just starting, Kraken’s trading environment is designed to support your trading endeavors.

 

#7. DYDX

DYDX is a leading decentralized and non-custodial leverage trading platform for cryptocurrency enthusiasts like you. It’s designed on the Ethereum blockchain, utilizing smart contracts to provide a secure trading environment.

The platform is renowned for its innovative approach to leverage trading and its alignment with the ideals of decentralized finance.

Main Features and Advantages:

• Leverage: You can access up to 25x leverage on Bitcoin, Ethereum, and DAI contracts.
• Fees: Enjoy the benefits of zero trading fees and low interest rates.
• Liquidity and Efficiency: StarkWare’s layer-2 scaling solution alongside the 0x order book enhances both.
• Trading Tools: DYDX equips you with advanced tools like limit, market, stop, and trigger orders, as well as flexibility between cross-margin and isolated margin modes.
• Interface: The platform provides a seamless experience accessible via web and mobile.
• Security and Transparency: With DYDX, your funds remain controlled, and all transactions are verifiable on-chain.
• Community-Driven: The platform’s open-source nature and governance model encourage DYDX token holders to participate in its evolution actively.

Drawbacks and Limitations:

• Currency Support: You’re limited to crypto deposits and withdrawals, as no fiat transactions are supported.
• Contract Types: The platform specializes in perpetual contracts without offering spot trading.
• Trading Pairs: Currently, few trading pairs are available, focusing on significant cryptocurrencies margined against USDC.

With DYDX, your trading is both efficient and empowered by the decentralized finance movement.

While it excels in providing a robust leverage trading platform, consider if its features align with your needs, especially regarding the types of contracts and currency support.

 

#8. GMX

GMX is a community-owned leverage trading exchange that emerged in 2023, utilizing the Arbitrum layer-2 network to offer you a spanking novel trading experience.

Tailored with an interface that accommodates both your desktop and mobile devices, GMX presents itself as user-friendly and adaptable to modern trading habits.

Here are the prime features that could make GMX your exchange of choice:

• Leverage: You can engage with up to 30x leverage on an array of prime cryptocurrencies, including Bitcoin and Ethereum.
• Fees and Rewards: Trade with the upside of opposing fees while benefiting from lucrative rewards in the native GMX token.
• Technological Edge: Built on Arbitrum roll-up technology, GMX ensures swift and cost-efficient transactions empowered by gasless meta-transactions.
• Trading Tools: Whether your style calls for limit, market, stop, or trailing orders, GMX caters to your demands. Enjoy freedom with options for both cross-margin and isolated-margin trading.
• Secure and Autonomous: Navigate a platform that is not only secure and decentralized but also dismisses the need for KYC processes, account registration, or custody of funds.
• Ownership and Governance: As a GMX token holder, you embrace full voting rights and a slice of the exchange profits, cementing your stake within the community-owned governance framework.

However, it’s essential to consider certain limitations:

• GMX does not handle fiat currency transactions, necessitating a prior possession of crypto assets.
• It does not support spot trading or contracts other than perpetual.
• The exchange offers a limited assortment of tradable pairs and contracts, focusing on six significant cryptocurrencies, all USDC-margined.

By choosing GMX, you’re opting for an exchange that commits to both technological efficiency and rewarding trading experiences while bearing in mind the specific scope of its service.

 

#9. Deribit

Deribit emerged as a specialized leverage trading platform, primarily focused on Bitcoin and Ethereum derivatives. Your trading experience on Deribit extends to futures and options, enabling a comprehensive derivatives trading strategy.

Key Features of Deribit:

• Leverage: Access up to 100x leverage on Bitcoin futures and similar leverage on Ethereum contracts, intensifying your trading potential.
• Trading Fees: Benefit from competitive trading fees, starting at 0.02% for market makers and 0.05% for takers. These may vary depending on leverage levels and trading volumes.
• Liquidity and Volume: A wide variety of trading pairs and contract types like perpetual, futures, and options ensure high liquidity and volume.
• Trading Tools: Deribit offers sophisticated trading resources, including various order types like limit, market, stop, and conditional orders, alongside advanced trading features such as margin and options strategies.
• Interface: Navigate through a user-friendly and versatile web, mobile, and desktop interface.
• Security and Reliability: Trade confidently with cold storage systems, real-time auditing, and comprehensive risk management in place.

Despite its robust offerings, you should be mindful of Deribit’s restrictions:

• Payment Options: The platform operates crypto-only, with no fiat deposits or withdrawals.
• Trading Options: Deribit’s focus remains limited to futures and options and does not support spot trading.
• Geographical Limitations: Certain regions, including the US, Canada, and the UK, may face restricted access to Deribit’s services.

Your experience with Deribit is supported by 24/7 customer service, and you are reachable through chat, email, and phone, ensuring a smooth trading journey.

 

#10. PrimeXBT

PrimeXBT is recognized as a multi-asset, award-winning leverage trading platform that caters to various markets.

You can trade over 50 markets, including cryptocurrencies such as Bitcoin and Ethereum, forex pairs, commodities like gold and oil, and stock indices.

Key Features of PrimeXBT:

• Leverage: Offers up to 100x leverage on significant cryptocurrencies.
• Fees: Enjoy low trading fees starting from 0.05% across all markets.
• Liquidity: Provides high liquidity and instant order execution.
• Trading Tools: Access comprehensive tools, including various order types and trading options.
• Interface: Utilizes a user-friendly, customizable interface for web, mobile, and desktop.
• Security: Remains secure and anonymous with no personal data collection.
• Innovations: Features unique additions like co-vesting and turbo modules.

While PrimeXBT boasts numerous advantages, there are certain limitations to be aware of:

• Crypto-only Transactions: All deposits and withdrawals are in cryptocurrency, with no fiat options.
• Derivatives Focus: The exchange limits its offerings to derivatives, not providing spot trading.
• Regulatory Aspects: It faces regulatory uncertainty, which could affect access in certain regions such as the US and Canada.

In choosing PrimeXBT, you’ll engage with a platform that balances advanced trading tools and digital security aimed at experienced traders seeking leverage options without fiat constraints.

Frequently Asked Questions

In this section, you’ll find direct answers to common inquiries about leverage and margin trading on cryptocurrency platforms in Canada. These FAQs are tailored to help you navigate the complexities and legalities of high-leverage trading.

Which platforms support cryptocurrency leverage trading in Canada?

Several online platforms allow you to trade cryptocurrencies on margin. Bybit and Zoomex are notable for their leverage options, user interface, and trading experiences.

What are the legalities surrounding leverage trading within Canada?

Leverage trading in Canada is regulated, and platforms offering these services must comply with securities regulations. Always verify that the exchange you choose is in good standing with Canadian regulatory authorities to ensure legal compliance.

What are the top exchanges offering high leverage for crypto trading in Canada?

Bybit is a recognized platform that allows for high-leverage trading of up to 100x on cryptocurrencies. Zoomex is also mentioned for offering various contracts and competitive leverage options.

Is Kraken a popular choice for margin trading in Canada?

Kraken is considered a reputable and widely used exchange for margin trading with a strong presence in Canada. It provides a secure platform to trade multiple cryptocurrencies with leverage.

How does one safely engage in leverage trading of cryptocurrencies in Canada?

Choose a credible exchange platform that adheres to Canadian regulations to engage safely. Understand the risks, use leverage cautiously, and consider risk management tools to protect your capital.

Are there any exchanges that offer exceptionally high leverage, like 1000x, for traders in Canada?

Exchanges offering extremely high leverage, such as 1000x, are uncommon and involve significant risks. Conducting thorough research and approaching such high leverages with extreme caution is essential as they can lead to substantial financial losses.

Conclusion

When selecting a leveraged trading exchange in Canada, prioritize platforms regulated by Canadian authorities like CIRO.

OANDA, FP Markets, and FOREX.com are notable for their comprehensive offerings and solid regulatory standing. For a platform with a depth of currency pairs, FOREX.com stands out.

CMC Markets is well-suited for new traders, offering an intuitive interface and educational resources. Additionally, Friedberg Direct, powered by AvaTrade, is recognized for consistent spreads, which can be a decisive factor when trading on margin.

WeBull has emerged as a robust platform for diversified leveraged trading, not just limited to forex but also stocks, ETFs, and cryptocurrencies.

Remember to assess each broker’s fee structures and trading requirements, as these can significantly impact your trading results.

Your trading style and preferences should guide your choice. Whether you’re looking for an ECN Forex broker like FP Markets or a broker that allows all trading styles like 4XC, Canada offers a variety of reputable options.

Leverage ratio offerings vary significantly, with some brokers providing up to 1:500. Be aware that leverage amplifies gains and losses.

It’s critical to understand the risks involved and to trade responsibly.

Brokerage	Key Offering	Leverage	Regulation
OANDA	Best Overall	Moderate	CIRO
FP Markets	Best ECN Broker	Up to 1:500	CIRO
WeBull	Diversified Assets	Varies	Not Specified

Trade carefully, considering leverage implications and ensuring a solid risk management strategy. Your due diligence is the cornerstone of a successful leverage trading experience in Canada.