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Best Leverage Crypto Exchanges of USA in 2025

Written by Larry Jones

Written by:

Larry Jones

Hi, I'm Larry Jones, an Financial Management graduate from Franklin University, where I focused on Finance. With a deep passion for trading and investing, I've immersed myself in the dynamic world of financial markets. Currently, I dedicate my time to trading while also educating others about the exciting opportunities in cryptocurrencies. Through my experience and expertise, I aim to make complex financial concepts accessible to everyone. Whether you're a seasoned trader or new to the world of investing, my goal is to provide you with valuable insights and practical knowledge to help you navigate the world of cryptocurrencies with confidence.

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Expert Reviewed

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 February 2, 2025

  • In the dynamic landscape of cryptocurrency trading, leverage trading platforms are crucial for traders in the United States.

    Leverage trading allows you to borrow funds to increase your trading position, amplifying potential gains and risks.

    Choosing a platform that aligns with your trading needs, experience level, and risk appetite is essential.

    This article reviews the best crypto margin trading platforms in the USA as of 2025, including Bybit, Phemex, BingX, Binance, Bitget, Kraken Pro, Crypto.com Exchange, CME, Coinbase International Exchange, Gemini, BYDFi, DYDX, and GMX.

    To provide a comprehensive overview, we explore their leverage limits, fee structures, available tokens, security measures, and user support.

    By examining these platforms, you’ll find one that offers the leverage options suited to your trading strategy and a secure, compliant environment within the USA’s regulatory framework.

    Whether you’re a seasoned trader or new to the scene, this guide will help you find the proper exchange for your leverage trading endeavors, enabling you to make informed decisions and optimize your trading outcomes in the competitive cryptocurrency world.

    Best US Crypto Exchanges With Leverage In 2025

    1. Phemex – best NO KYC US crypto leverage trading platform
    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 Pro – biggest crypto exchanges in the us
    7. Crypto.com Exchange – best for BTC leverage trading in USA
    8. CME – regulated crypto exchange in USA
    9. Coinbase International Exchange – best for crypto leverage trading in the USA
    10. Gemini – highest crypto leverage
    11. BYDFi – most secure for leverage trading
    12. DYDX – best decentralized exchange with leverage
    13. GMX – best for short-term leverage trading crypto


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    #1. Phemex

    phemex exchange

    Phemex, established in 2019, is a relatively new player in the crypto exchange arena but has carved a reputation for offering robust leverage trading options.

    As a trader, you can engage in leverage trading with up to 100x on certain products, allowing for considerable exposure to various cryptocurrencies.

    Regarding spot markets, Phemex distinguishes itself by allowing ample leverage. Leveraged trading can amplify both your gains and risks, so it is vital to approach it with a thorough understanding of the market.

    In the realm of margin trading, Phemex supports a growing number of cryptocurrencies, enhancing your trading flexibility. Here’s a concise look at some critical aspects of leverage trading on Phemex:

    • Leverage Availability: Up to 100x on derivatives trading
    • Supported Coins for Margin Trading: Multiple, increasing options
    • Fees Structure:
      • Derivatives Trading: 0.075% Taker fee, -0.025% Maker fee
      • Spot Trading: Varies, often lower, providing an edge for strategic traders

    One of the highlights of Phemex is its approach to KYC (Know Your Customer). While KYC is standard practice, Phemex offers leverage trading without mandatory KYC verification, streamlining the process for traders prioritizing privacy.

    Pros of Phemex:

    • High leverage options (up to 100x)
    • No mandatory KYC for leverage trading
    • Competitive fees for makers and takers

    Cons of Phemex:

    • It may not cater to all U.S. residents
    • Leverage trading involves high risk and is not suitable for everyone

    Remember that while the lack of strict KYC procedures can be advantageous, it also places a greater responsibility on you to ensure safe and legally compliant trading practices.

     

    #2. Bybit

    bybit

    Founded in March 2018, Bybit has made its mark in the crypto world, specializing in leverage trading. When leveraging on spot markets, Bybit is notable for allowing you to amplify your trading capacity.

    Leverage on Spot Markets:

    • Up to 100x leverage for specific pairs

    Supported Coins for Margin Trading:

    • Bybit supports a variety of coins for margin trading, with over 200 markets available for you to explore.

    Fees Structure:

    • Trading fees vary and are competitive, including maker and taker fees, designed to encourage liquidity.

    KYC Requirements:

    • You are typically not required to complete know-your-customer (KYC) procedures for margin trading, offering you privacy.

    Pros of Bybit:

    • Robust trading platform with high-leverage options
    • Extensive range of markets and supported coins
    • No mandatory KYC for margin trading
    • User-friendly interface for both novice and experienced traders

    Cons of Bybit:

    • High-leverage trading can be risky and is not suitable for all investors
    • Regulatory uncertainty may impact future access and features

    By engaging in margin trading with Bybit, you can access powerful tools to enhance your trading experience.

    Despite the risks inherent in high-leverage trading, Bybit provides a transparent fee structure and a platform that caters to various trader expertise levels.

     

    #3. BingX

    bingx exchange

    BingX is a cryptocurrency exchange platform that offers you the facility of leverage trading. Originating as a socially integrated trading exchange, BingX emphasizes connecting traders and enhancing their strategic trading capabilities.

    • Leverage and Spot Markets: You can leverage a variety of cryptocurrencies on BingX – the platform allows for trading on spot markets with leverage, though the exact amount can vary based on market conditions and your account type.
    • Supported Coins and Margin Trading: A diverse selection of coins is available when you engage in margin trading. BingX supports multiple cryptocurrencies, ensuring you have access to a broad spectrum of trading pairs to diversify your trading strategy.
    • Fees Structure: The fees for leverage trading on BingX are competitive and designed to fit the needs of both occasional and high-volume traders. The structure is tiered; as your trading volume increases, the fees you are subject to can decrease.
    • Know Your Customer (KYC): BingX requires KYC verification for margin trading that aligns with global regulatory standards. This ensures a secure trading environment by complying with anti-money laundering (AML) laws and regulations.

    Pros of BingX:

    • Socially integrated platform; you can learn from other traders
    • Real-time customer support is available for immediate assistance

    Cons of BingX:

    • The KYC process might be a barrier if you seek complete anonymity
    • The range of leverage might not match the highest options available elsewhere

    BingX could be an appropriate option if you are looking for a user-friendly exchange that adds a social element to its trading environment.

     

    #4. Binance

    Binance exchange

    Pros & Cons of Using Binance:

    • Pros:
      • High liquidity markets which can lead to reduced slippage
      • User-friendly interface for ease of trading
      • Multi-language support catering to a global user base
    • Cons:
      • The complexity of features may be daunting for beginners
      • In certain jurisdictions, access to leverage trading may be limited due to local regulations

    By choosing Binance for crypto leverage trading, you align yourself with a robust platform recognized for its advanced trading features and commitment to security.

     

    #5. Bitget

    bitget exchange

    Bitget has positioned itself as a prominent crypto leverage trading market player. Established as a centralized exchange, it caters to your needs for various forms of margin trading, including futures and copy trading.

    Leverage Availability: For spot markets, Bitget offers a flexible leverage scale, providing you with the opportunity to control the level of risk and reward:

    • Spot Markets: Up to 5x leverage

    Supported Coins: On Bitget’s margin trading platform, you can access:

    • Margin Trading Pairs: A diverse array of coins — specifics can vary over time

    Fee Structure: The fees on Bitget for leverage trading are designed to be competitive:

    • Maker/Taker Fees: Tiered structure based on 30-day trading volume
    • Overnight Funding: Applicable on leveraged positions

    KYC Requirements: Margin trading on Bitget includes verification of KYC (Know Your Customer) to ensure a secure trading environment.

    Pros of Bitget:

    • Offers high-leverage options for futures trading
    • Incorporates copy trading features
    • No KYC is required for essential platform use

    Cons of Bitget:

    • Slower customer service response times reported by some users
    • Limited availability of coins for spot market leverage trading

    When you trade on Bitget, you experience a high-leverage environment with a user-friendly interface that both novices and veterans can easily navigate.

    The exchange provides tools to help manage risk while engaging in leverage trading. However, always remember that high leverage comes with high risk, and it’s crucial to trade responsibly.

     

    #6. Kraken Pro

    kraken exchange

    Kraken, founded in 2011 and headquartered in San Francisco, is a well-established cryptocurrency exchange that allows you to engage in leverage trading.

    You can access leverage up to 5x on various spot markets when using Kraken Pro for margin trading.

    This level of leverage allows you greater exposure to potential gains while increasing risks, so you must understand the mechanics and your comfort with such strategies.

    On Kraken, you’re not limited to just a few options; the platform supports over 100 cryptocurrencies that can be traded on margin.

    This diversity allows you to make strategic choices across a broader spectrum of digital assets.

    While trading with leverage on Kraken, expect a fee range between 0.01% and 0.02% to open positions.

    Moreover, for every 4 hours that the position is open, a rollover fee is incurred at the same rate, making it crucial for you to monitor your trades proactively.

    Kraken mandates Know Your Customer (KYC) procedures for margin trading to ensure security and regulatory compliance.

    Your personal information will be required as part of this process, which aligns with industry-standard practices to prevent fraud and illegal activities.

    Pros & Cons of Kraken:

    • Pro: Kraken’s emphasis on security and regulatory adherence makes it a secure option for leverage trading.
    • Con: While Kraken offers competitive leverage options, its fee schedule may add up, especially if you tend to hold positions for extended periods.

    Before you proceed with leverage trading, you must understand your financial goals and risk.

    Remember that while leverage can amplify returns, it can also accentuate losses.

     

    #7. Crypto.com Exchange

    crypto com

    Founded to accelerate the world’s transition to cryptocurrency, Crypto.com is a significant player in crypto trading, offering various services, including leverage trading.

    On their platform, you can access leverage on spot markets, multiplying potential gains (or losses) depending on the asset.

    Leverage on Spot Markets: Crypto.com provides leverage of up to 3x for spot trading. This allows you to borrow funds to trade more prominent positions than your existing capital.

    Supported Coins: With Crypto.com, you can trade several cryptocurrencies on margin. The number of supported coins can vary, but the platform offers popular options such as BTC, ETH, and various altcoins.

    Fees Structure:

    Trade Volume (30D) Maker Fee Taker Fee
    ≤ $250,000 0.10% 0.16%
    > $250,000 0.09% 0.15%

    Note: Fees decrease with higher trading volume.

    KYC Requirements: While trading on margin with Crypto.com, you must complete Know Your Customer (KYC) procedures to comply with regulatory standards. This typically involves providing identification and other personal details.

    Pros of Crypto.com:

    • User-friendly interface
    • High-security measures
    • Multiple coins for margin trading

    Cons of Crypto.com

    • Limited maximum leverage compared to other platforms
    • KYC may be a barrier for users seeking anonymity

    Your experience with Crypto.com’s leverage trading features might be shaped by how you value ease of use, security, and compliance with regulatory standards. Remember that while leverage can amplify gains, it also increases the risk of losses, and it’s crucial to trade responsibly.

    #8. CME

    The Chicago Mercantile Exchange (CME) Group, a cornerstone of financial derivatives trading, has embraced cryptocurrency within its offerings.

    Your transition into crypto leverage trading through CME is grounded in the exchange’s solid financial history, ensuring a robust and regulated trading environment.

    Leverage Availability:

    • Spot Markets: Typically offers leveraged products rather than direct leverage on spot crypto markets.
    • Futures Products: Provides leveraged exposure via cryptocurrency futures.

    Supported Coins:

    • The CME initially started with Bitcoin futures and has since expanded to include Ether futures. The innovative Micro Bitcoin and Micro Ether futures also cater to traders seeking smaller-scale investment opportunities.

    Fee Structure:

    • Fees vary based on monthly volume with incentive programs for high-volume traders.

    KYC Requirements:

    • As a regulated entity, CME mandates Know Your Customer (KYC) protocols without exception, enhancing security and compliance.

    Pros of CME:

    • Regulated: Offers peace of mind with a regulated trading environment.
    • Capital Efficiency: Futures trading provides the opportunity for capital efficiency.
    • Liquidity: High liquidity for better price discovery and reduced slippage.

    Cons of CME:

    • Complexity: Futures and options trading can be complex for inexperienced users.
    • Limited Coin Selection: Fewer cryptocurrency options than some specialized crypto exchanges.

    Your engagement with CME for crypto leverage trading involves balancing the pros of a trusted and well-regulated platform against the cons, including a relatively narrow selection of cryptocurrencies and the inherent complexity of trading sophisticated financial instruments.

     

    #9. Coinbase International Exchange

    coinbase

    When you’re diving into the world of cryptocurrency trading, you’ll find that Coinbase stands as a pivotal platform. It has a solid foundation in the crypto space and caters to traders looking to engage in leverage trading.

    At Coinbase, you can trade with leverage, and for spot markets, this could reach up to 3x leverage based on current regulations.

    Coinbase supports a variety of cryptocurrencies for margin trading, allowing you to diversify your portfolio. It’s important to note that while the exact number of supported coins may change, you can expect to have access to most of the popular assets.

    Here’s a quick breakdown of the fee structure:

    • Maker Fee: From 0% to 0.50%
    • Taker Fee: From 0.04% to 0.50%

    These fees align with your trading volume and the asset being traded and are competitive with the market standards.

    To maintain a secure trading environment, Know Your Customer (KYC) protocols are stringent on Coinbase.

    Verifying your identity before starting leverage trading would be best, underscoring their commitment to regulatory compliance and security.

    Pros of Coinbase:

    • Security: High priority with insurance backing digital assets.
    • User-Friendly Interface: Ideal for beginners and experienced traders.
    • Regulation: Compliance with U.S. laws, providing a sense of trust.

    Cons of Coinbase:

    • Restricted Leverage: Due to regulations, leverage options might be limited.
    • Geographical Limitations: Some features may not be available in all regions.

    By engaging with Coinbase, you’re using a platform that is confident in offering secure, regulated, and comprehensive leverage trading services in the crypto market.

     

    #10. Gemini

    Foundational History: Gemini focused on compliance and security within the crypto space. It provides leverage trading options to cater to both novice and experienced traders.

    Leverage on Spot Markets: On spot markets, Gemini allows you to engage in trading with leverage that can amplify your trading position. However, the leverage ratio may vary based on the market’s condition and regulatory changes.

    Supported Coins on Margin Trading:

    • Gemini offers margin trading on a variety of cryptocurrencies.
    • You can expand your portfolio with more than 70 crypto assets.

    Fee Structure:

    • The fees for leverage trading on Gemini are structured to encourage active trading, with a dynamic scale based on your 30-day trading volume.
    • Higher volumes typically result in lower fees.

    KYC Process:

    • Completing a Know Your Customer (KYC) procedure to start margin trading on Gemini is mandatory to adhere to regulatory standards.

    Pros & Cons:

    Pros of Gemini:

    • Highly secure: Gemini is recognized for its robust security measures.
    • User-friendly: Interfaces cater to different expertise levels.
    • Regulatory compliance: Operates strongly emphasizing adherence to laws and regulations.

    Cons Of Gemini:

    • They are limited to certain regions due to strict compliance with local regulations.
    • The fee structure might be less competitive for low-volume traders.

    Your trading on Gemini assures a platform built on a foundation of strict compliance and user safety in mind.

    With a wide selection of coins and a straightforward KYC process, your leverage trading needs are well-serviced, albeit mindful of the potential higher costs for less active traders.

     

    #11. BYDFi

    BYDFi, established in 2020, quickly garnered attention for its leverage trading options in the cryptocurrency sphere.

    The platform is headquartered in Singapore and operates globally, including in the USA, where FinCEN regulates it.

    When considering leverage on spot markets, BYDFi stands out by offering up to 200x leverage, a notable figure in the industry.

    Regarding cryptocurrency diversity, BYDFi supports a broad range of coins for margin trading. This allows you to diversify your trading strategies across various cryptocurrencies.

    You need to be aware of the fees associated with leverage trading. BYDFi implements a competitive fee structure within the market, though specifics can vary depending on the type of trade executed.

    Regarding the Know Your Customer (KYC) procedures, BYDFi does require KYC to comply with regulatory standards, particularly for margin trading.

    This adds a layer of security to your trading activities, ensuring a safer trading environment.

    Pros of BYDFi:

    • High leverage options up to 200x
    • A wide selection of cryptocurrencies for margin trading
    • Compliance with regulatory standards (FinCEN)

    Cons of BYDFi:

    • The KYC process can be cumbersome for some users
    • Fees, while competitive, may still add up with frequent trading

    These pros and cons could influence Your experience with BYDFi, depending on your trading preferences and security and regulation compliance requirements.

     

    #12. DYDX

    dydx

    dYdX is your go-to decentralized platform if you’re looking for a powerful leverage trading experience. Founded by a former Coinbase engineer, Antoni Juliano, in 2017, it has rapidly become a distinguished player in DeFi.

    Leverage on Spot Markets:

    • Bitcoin and Ethereum: Up to 20x
    • Other Markets: Up to 10x

    Supported Coins:
    dYdX supports a range of cryptocurrencies for margin trading. You have various options beyond just the major players like Bitcoin and Ethereum.

    Fee Structure:
    Your trading volume affects the fees on dYdX. They range from 0% to 0.05%, and holding dYdX’s native token (DYDX) may unlock further discounts.

    KYC Policy:
    Unlike most centralized exchanges, dYdX does not require Know Your Customer (KYC) verification for margin trading, which can be an attractive feature for traders who prioritize privacy.

    Pros of dYdX:

    • High leverage options
    • No KYC for trading
    • Competitive fee structure
    • Layer 2 scaling for faster, cheaper transactions

    Cons of dYdX:

    • It may be complex for beginners
    • Limited to cryptocurrencies (no fiat trading pairs)

    Your trading on dYdX is enhanced by the StarkWare layer two scaling solution, which ensures fast and cost-effective transactions. Governed by its users, it gives you a voice in the platform’s future—making you more than just a trader.

     

    #13. GMX

    gmx

    GMX is a decentralized exchange specializing in perpetual contracts that allows you to trade directly from your wallet on Arbitrum and Avalanche.

    Established to cater to novice and experienced traders, GMX offers a unique platform for engaging with leverage in the crypto markets.

    • Leverage Available: You can access up to 50x leverage on perpetual contracts for various cryptocurrencies.
    • Supported Coins: GMX permits you to trade top cryptocurrencies such as BTC, ETH, AVAX, and others on margin.

    The fee structure on GMX is designed to share the revenue with liquidity providers:

    • Fees: As a liquidity provider token holder of GMX, you’d accrue 70% of the generated fees from V1 markets.

    When it comes to personal verification:

    • KYC: GMX does not require KYC (Know Your Customer) for margin trading, offering privacy-focused trading.

    Pros:

    • No KYC requirement enhances privacy.
    • Revenue-sharing through fee accrual to GLP token holders.

    Cons:

    • Offers a relatively limited number of trading pairs.

    By engaging with GMX for crypto leverage trading, you’ll experience a user-focused platform that offers a balance of features suitable for various trading strategies without compromising your privacy.

     

    Frequently Asked Questions

    You may have several questions when navigating the terrain of cryptocurrency leverage trading in the US. Below are answers to common inquiries surrounding this topic to guide your decisions.

    Where Can I Trade Crypto With Leverage In The US

    You can engage in leverage trading with cryptocurrency through several platforms in the US. Notable exchanges include Kraken, which has been operating for an extended period and focuses on experienced traders, and KuCoin, offering up to 10x leverage on margin trading and up to 100x on futures trading.

    Which platforms provide the highest leverage for cryptocurrency trading in the US?

    Margex and KuCoin are known to offer up to 100x leverage on specific trading pairs and products. It’s important to note that while high leverage can amplify gains, it also increases trading risks.

    Are there any US exchanges that allow for 200x or higher leverage trading?

    Currently, no US exchanges offer leverage of 200x or higher. Regulatory guidelines and the risk management policies of most platforms cap leverage at a maximum of 100x.

    Is it legal to conduct leverage trading in the United States, and if so, on which platforms?

    Yes, it is legal to conduct leverage trading in the United States.

    However, the activity is regulated, and using platforms that comply with US laws is essential. Exchanges like Kraken and KuCoin allow leverage trading and operate within the US regulatory framework.

    Where can you leverage crypto trade in the US?

    In the US, you can leverage trade crypto on reputable exchanges such as Kraken, Binance.US, eToro, Coinbase Pro, and Gemini.

    These platforms offer varying degrees of leverage, typically ranging from 2x to 10x, and are known for their robust security, user-friendly interfaces, and regulatory compliance.

    Each exchange has its features and requirements, so it is advisable to review their offerings to determine the best fit for your trading needs.

    How do you trade leverage crypto in the US?

    To trade leverage crypto in the US, first choose a reputable exchange that offers margin trading, like Kraken, Binance.US, eToro, Coinbase Pro, or Gemini.

    Create and verify your account through the KYC process, deposit funds, and enable margin trading.

    Select your desired trading pair and leverage, place your trade, and actively manage your position with risk management tools such as stop-loss orders.

    Finally, monitor your trades and close them when appropriate to secure profits or minimize losses.

    Conclusion

    In the landscape of cryptocurrency exchanges offering leverage to traders in the USA, options such as KuCoin and Margex have established themselves with competitive offerings, including various leverage ratios up to 100x.

    MEXC distinguishes itself further with a leverage option up to 200x. Meanwhile, OKX is noteworthy for those looking to delve into crypto options markets, particularly with Bitcoin and Ethereum.

    • KuCoin: Operates in the USA, providing a comprehensive range of crypto products.
    • Margex: Offers up to 100x leverage without KYC verification for select trading pairs.
    • MEXC: Stands out with leverage of 200x and low commission fees.
    • OKX: Specializes in crypto options markets with leverage up to 100x.

    When choosing a cryptocurrency exchange for leverage trading, security, trading pair availability, and fee structure should be at the forefront of your considerations.

    Using sophistication in your approach is essential, aligning with your risk tolerance and trading strategy. Trading on margin with leverage is risky, so proceed cautiously and be well-informed.

    Remember, the platforms mentioned have been highlighted for their performance and offerings.

    Should you decide to step into crypto leverage trading in the USA, these platforms could be a starting point for your journey into margin trading.

    It’s advisable to conduct thorough research and consider all associated risks.

    About the Authors

    Hi, I'm Larry Jones, an Financial Management graduate from Franklin University, where I focused on Finance. With a deep passion for trading and investing, I've immersed myself in the dynamic world of financial markets. Currently, I dedicate my time to trading while also educating others about the exciting opportunities in cryptocurrencies. Through my experience and expertise, I aim to make complex financial concepts accessible to everyone. Whether you're a seasoned trader or new to the world of investing, my goal is to provide you with valuable insights and practical knowledge to help you navigate the world of cryptocurrencies with confidence.