In cryptocurrency, leveraged trading means using additional capital from brokers. Usually, these funds exceed the balance of funds on the traders’ accounts. Hence, they increase the trading power to maximize profits. The best part is that you can use a little amount of your money.
For instance, a trader who starts trading with leverage with a 100 dollars margin can trade with up to 10x leverage, and use $10,000. However, trading with leverage involves high risks, which can lead to big losses. This is why beginners are not advised to choose this type of trading until they practice some strategies and realize their risks. Still, you can start with small amounts or use the demo account with virtual money on it.
Let’s see what leverage crypto trading platforms offer the best conditions for traders of beginner level.
eToro
eToro is one of the most notable international brokerage platforms. It is licensed by CySEC (Cyprus) and FCA (Great Britain).
This crypto trading platform allows you to buy and sell 18 popular cryptocurrencies, including BTC, EOS, BCH, ETH, UNI, XRP, ADA, BND, and so on. Depending on location, customers can also trade derivative cryptocurrencies. CFDs are available to major eToro users who are not from the US, UK, or Hong Kong.
But keep in mind that eToro only allows 2x leverage for digital assets. Americans can only execute spot buy and sell orders.
It’s worth mentioning that eToro is not suitable for experienced traders who need tools for technical analysis.
Bybit
Bybit is a crypto trading platform from Singapore that has offices in many other countries.
You can trade CFDs on Bitcoin (BTC), Ethereum (ETH), EOS, and Ripple (XRP) against the USD. In fact, these trading instruments are perpetual contracts. It offers up to 100x leverage and has insurance funds. So they can help you to recover losses in the event of bankruptcy.
Bybit is considered one of the cheapest fees. Besides, it doesn’t require a KYC check to start trading. Still, if you want to perform fiat trading, you need to verify your identity first.
Binance
The exchange provides understandable instruments and a user-friendly interface for crypto margin trading. To start trading with leverage, you need to pass KYC. Besides, your country must be on the list of supported. Currently, US residents are not allowed to use Binance’s margin trading platform.
The exchange also has a Margin Insurance Fund. If a user goes bankrupt and he has insufficient funds to pay off his debts, the exchange will cover his debts.
Binance allows leverage of up to 10x for spot markets and up to 125x for derivatives.
Kraken
One of the biggest crypto exchanges trading platforms in the USA is Kraken. The platform offers margin in the spot and derivatives markets.
You can enter long or short positions on various digital assets with up to 5x leverage. The commission for opening a position is 0.02%, and the low commission for prolongation is a maximum of 0.02% for 4 hours.
Kraken also offers regulated futures and they provide different solutions for trading crypto futures. They currently offer Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ripple (BTC), and Bitcoin (BTC) futures with up to 50x leverage.
Huobi Global
Another international digital asset exchange is known for its international multilingual platform and support. The exchange is based in Singapore with offices in different countries. To get started, you need to register with your email ID and submit documents for verification. Users usually wait a day or two for approval.
Then you can start trading and take advantage of their margin trading feature. Huobi offers up to 5x margins for spot trading and up to 125x for derivatives trading.
CEX.IO Broker
The CEX.IO Broker is a core product of the ever-expanding ecosystem of the CEX.IO Group. It’s a robust digital asset margin trading platform that offers its clients a high degree of flexibility.
CEX.IO Broker customers who are suitable for margin trading can take advantage of more activity with other CEX.IO products. Like Instant buy crypto with your card, staking, crypto-backed loans, and more. Learn how to sell ETH to USD instantly with CEX.IO/.
This crypto trading platform is constantly expanding the range of currency pairs available for trading. Customers can enter long and short positions in AAVE, BTT, BNT, KAVA, KNC, SNX, UMA, and so on. In addition to digital assets, users can also trade derivatives for metals, fiat currencies, and major stocks. Also, you can use multiple analytical tools on the trading terminal and practice both isolated and cross-margin. Moreover, CEX.IO Broker has a demo account for beginners to skill up their strategies before using real money. In 2021 CEX.IO Broker canceled all trading commissions so you can use their services for free.
Deribit
Deribit has a high-level trading system with all kinds of order types, even “hidden” ones.
This crypto trading platform is older than most other crypto margin trading sites. Since they are still providing services, the exchange appears to be reliable and stable. In addition, they are one of the few that offer classic BTC futures with precise settlement dates.
Deribit offers an understandable user interface and is beginner-friendly. However, they only provide very few leverage trading instruments:
- BTC/USD (perpetual contracts)
- BTC/USD and ETH/USD Futures
- BTC/USD Options
BitMEX
BitMEX stands for Bitcoin Mercantile Exchange. It is a P2P trading platform that offers leveraged contracts bought and sold in BTC. The exchange is headquartered in Singapore with offices in Hong Kong, Korea, Japan, and the United States. The company gained a lot of respect in the crypto sphere in a fairly short period of time.
BitMEX offers margin trading for 6 digital assets. Naturally, Bitcoin margin trading is the most popular. The interface of the BitMEX trading platform is a bit outdated but functional. There’re several widgets available that you can modify based on your viewing preferences.
StormGain
The exchange is offering crypto futures markets trading with up to 200x for certain cryptocurrencies.
BTC, ETH, and XRP are the most popular assets trading in full swing with around $300 million volume each day. There are built-in wallets for most of the supported assets.
The platform has an inbuilt option for purchasing cryptocurrencies with a credit card is available to fund your margin accounts.
