As cryptocurrency has increased in popularity, so have the tools that experienced traders use to make the most of fluctuations in this volatile market. Many traders in forex and stock markets would be familiar with margin trading, but it is relatively new to the cryptocurrency scene. If you are unsure what margin trading is, also known as leverage trading, read this article to learn about crypto leverage trading.
There are now a variety of options available for Australians who want to margin trade, but how do you know which platform to choose? The first point to consider is if the trading platform is safe and legitimate. I have done thorough research on the best margin trading crypto platforms in Australia, and all the ones I mention in this article are secure and legitimate sites. Besides safety, the other factors you need to consider depend on your needs. How much leverage would you like? What features are you looking for? How many cryptocurrencies does the platform support, and does it have the trading pairs you wish to trade? What are the fees involved with deposits, withdrawals and trades? Does it accept fiat withdrawals and deposits? Do you want to trade using an app?
In this article we cover the top crypto margin trading platforms for Australians. Have a read through to decide which is the best for your individual needs.
Top 3 Margin Trading Crypto Platforms
✔️ Over 280+ coins available to trade
✔️ Free $10 BTC when you deposit at least $100, with more bonuses for large traders
✔️ 0.01% maker fees, and 0.06% for takers
✔️ No KYC required so you can trade anonymously with your identity secure
✔️ 2,114 trading pairs and 1,520+ coins
✔️ Access up to 200x leverage
✔️ Deepest liquidity and minimal slippage
✔️ Up to 200x leverage, and low trading fees of 0.05%
✔️ DEX & CEX options in the same platform
Best Margin Trading Platforms: Reviews
#1. Bybit: Best Margin Trading Exchange
Bybit is the #1 crypto margin trading platform, due to the reliability and trust it has acquired. It was founded in 2018 and has quickly grown to over 10 million users, with over $10 billion of 24-hr trading volume. Frequent traders are able to enjoy deep liquidity and 99.99% system functionality, with rapid trade speed of 100,000 trades per second.
Bybit has high leverage of up to 100x which is quite generous, since some other platforms only offer up to 5x or 20x. By increasing the amount you can borrow, you are able to maximise your profits, even on small fluctuations in price.
There is plenty on offer at Bybit; the derivatives markets are USDT Perpetual contracts, Inverse Perpetual contracts, and Inverse Futures contracts, and Spot trading is supported, with over 280+ coins available. Bybit even offers a testnet platform with mirrored capabilities of the main website for maximum safety. Users can easily open an account here and practise trading with demo coins to test out strategies before using real money. This is another reason why new margin traders enjoy using Bybit, to learn the ropes and perfect their trading style before depositing their own money.
The fees on Bybit are extremely competitive, with taker fees of just 0.06%, and maker fees of 0.01%, just on tenth of the fee that Binance charges! If you sign up with our link, you also receive FREE $10 BTC to get you started, when you deposit at least $100.
Bybit also pays attention to the needs of their customers, with 24/7 Live Chat support and an insurance fund to protect traders from negative equity and being held accountable for excessive loss. Bybit is definitely an exchange you should consider if you are looking to start margin trading in Australia.
#2. MEXC: 2,114 Trading Pairs
MEXC comes second in our list of the best margin trading crypto exchanges in Australia. It offers a massive range of 1,520 coins and 2,114 trading pairs, which is the most of any crypto platform. It supports leverage up to 200x, and you can trade anonymously, with no KYC required at all.
The trading fees are low on MEXC, at 0.0% for spot trading, and 0.0/0.01% (maker/taker) for futures trading, and there are plenty of advanced features and tools that experienced margin traders will love. One of the best features is copy trading, which is where you find a profitable investor and automatically make identical trades as them, learning and earning from them at the same time. This is not only beneficial to those who are new to trading, but also useful for anyone that simply does not have the time to conduct detailed analysis of charts and decide the best way to trade.
If you want to use MEXC as your margin trading platform, you can make use of our exclusive offer, using this link. You will receive FREE $30 USDT for opening an account!
#3. Kine: DEX & CEX in the same platform
Kine is an interesting option because it is a margin trading platform that has both CEX (centralised exchange) and DEX (decentralised exchange) in the one site. If you are more comfortable using a centralised crypto exchange, you can sign up to Kine easily and begin margin trading. On the other hand, if you prefer to remain anonymous and trade without KYC, then selecting the DEX option will let you margin trade simply by connecting your external crypto wallet.
Kine's trading fees are low, at only 0.05% for both makers and takers, and you can access extremely high leverage of up to 200x, which is twice the amount that Bybit offers. Kine is perfect for high volume margin traders because it utilises a peer-to-pool mechanism that allows unlimited liquidity to their users, meaning that your trades will be filled instantly. Kine also has very low slippage, and they don't charge any gas fees for trades, so you can save your money and maximise profits.
To get started on Kine, you can also receive over $8,000 USDT bonus depending on your deposit amount. If you deposit $200 you receive $10 USDT, deposit $1,000 to get $50 USDT, and for $5,000 deposits, receive $8,000 USDT! Click my unique link here to access this deal.
#4. KuCoin: 700+ Coins & Free Trading Bot
KuCoin is a very popular crypto trading platform with over 20 million users, and comes in at #4 in our list of best margin trading exchanges. It has a wide collection of more than 700+ coins, and low trading fees of 0.1% which can be discounted by 20% if you pay using KCS coins. High-volume traders also enjoy further discounts, based on the amount they have traded in the past 30 days.
KuCoin offers up to 100x leverage, which is the highest that you can find on the best crypto trading platforms, and besides margin trading, they offer many other features, like spot trading, derivatives, crypto lending and borrowing, NFTs, P2P market, and crypto staking.
Perhaps one of the biggest features found on KuCoin is the inclusion of FREE trading bots for all users. There are various bots available: Spot Grid, Futures Grid, Infinity Grid, DCA, and Smart Rebalance, so you can find one that is suitable for your personal requirements. Using a trading bot is an excellent way to manage your trading strategy, and allows you to remain in control even if market volatility increases while you are asleep. Usually crypto traders need to pay a monthly fee for crypto trading bots, but KuCoin including them for free on their platform is a huge bonus.
#5. Margex: Trade Anonymously - No KYC
Margex is our #5 recommendation for margin trading, as it is built to be very secure for users, and does not even require KYC verification, so you can rest assured your identity is safe. Margex stores 100% of cryptocurrencies offline in cold storage to ensure security, and your funds are safe, with bank-level security protocols in place.
Trading fees on Margex are very low: makers only pay 0.019%, and takers pay 0.060%, with up to 100x leverage available. They have also developed a unique system on their trading platform to prevent price manipulation. Margex calls this system MP Shield, and it uses a range of techniques to ensure users are safe from unfair liquidation triggered by price manipulation. The way they do this is by combining liquidity from more than 12 providers, use of AI-based algorithms, and constant monitoring of any suspicious or untoward trading behaviour.
Margex also offers a generous welcome offer of $100 bonus FREE, plus 15% of your first deposit amount is given to you as a bonus. To learn how it works or to claim the offer, click here.
On the downside, Margex only offers 39 cryptocurrencies (such as BTC, ETH, EOS, LTC, XRP, ADA, SOL & YFI), but this also prevents any users suffering losses from illiquid cryptocurrencies that are used in pump and dumps.
#6. Weex: Highest leverage of 200x
Weex is the best margin trading platform when it comes to high leverage, as they offer up to 200x, which is twice as high as Bybit. This allows their traders to borrow more and maximise any potential gains. However, you must be aware that high leverage can also lead to large losses.
Weex has the highest liquidity of leading global crypto exchanges, exceeding both MEXC and Bitget. This is particularly useful if you are a large-volume trader, as your orders will be filled quickly with minimal slippage. Weex even has a guarantee of low slippage, and if it exceeds a set threshold, they will compensate you for your loss.
Speaking of losses, Weex has a contingency plan in case their users suffer any loss from hacks or security breaches. There is a user protection fund containing 1,000 BTC which will be deployed in the unlikely event that their users' funds are stolen. Moreover, Weex has industry-leading security protocol, including an AI-powered risk control system, and a dual-level account-risk management system. Weex is also audited by four security vendors (Shencha Technology, Qingsong Cloud Security, HEAP, and Armors) so you can trust their platform is extremely secure.
When margin trading on Weex, you are trading futures: USDT perpetual, inverse contracts, or simulated contracts. The fees are only 0.02% for makers and 0.06% for takers, and if you also like spot trading, that is available with zero fees on Weex.
#7. Zoomex: Best DEX for margin trading
Zoomex is one of the newer crypto exchanges to make its way to Australia. We added it to our list because we like the unique ability to switch between a centralized exchange to a decentralized exchange with a click of a button. Trading on Zoomex's decentralized exchange (or DEX) is our preferred option, as you have increased privacy and security. You can link your DeFi wallet, such as MetaMask to Zoomex, and start margin trading without the need to provide any ID. However, you still have the benefit of the liquidity of Zoomex's centralized platform.
Copy Trading is another great feature of this exchange, and is well-suited for both beginners, as well as experienced traders who don't want to spend time analysing charts and following the market. All you have to do is select a user on Zoomex that has a good track record, and click to Follow them. Once that is done, Zoomex will automatically make the same trades on your account, every time that investor makes a trade. You can easily benefit from the success of other traders, while freeing up time for yourself.
Zoomex offers up to 100x leverage which is quite standard on margin trading exchanges in Australia. You can trade over 100 different coins, using USDT perpetual contracts, as well as a handful of options on inverse perpetual contracts. Trading fees are low, with makers paying 0.02% and takers paying 0.06%.
#8. Kraken: Best for Ease of Use
Kraken is a very popular US-based crypto exchange, established in 2011, and serving over 6 million customers. Many Aussies like to use Kraken because it is an extremely user-friendly platform that is perfect for beginners carrying out their very first trade, and it maintains the ease of use for investors that want to margin trade.
Margin trading is easily accessible with just one click when placing market or limit orders. Users can apply up to 5x leverage on 19 popular coins, including BTC, ETH, ADA, XRP, XTZ and TRX. The fees on Kraken are low, and vary depending on which cryptocurrency pair you are trading. Kraken charges up to 0.02% to open a position and up to 0.02% (per 4 hours) in rollover fees to keep the position open.
Kraken is an excellent choice for beginners who are getting started with margin trading, as the platform is intuitive and there is even Live Chat support for those times when you find yourself struggling with an issue.
What is Crypto Margin Trading?
Cryptocurrency margin trading is a way for investors to maximise their earnings on market fluctuations through borrowing funds to access a higher amount of capital. This means that with any positive market movements, you can make a larger profit from the amount you have invested. Be careful, because any negative market movements will amplify the losses that you incur, and you can even lose more than what you have invested. Crypto margin trading is only for experienced traders, and we do not recommend it for anyone that is new to cryptocurrency or trading in general.
Leverage
Leverage refers to the amount that your buying power has been raised to. The leverage amount is commonly written as a number followed by 'x' (the multiplication symbol), which is in reference to how many times of your investment that your capital is worth. For example, a leverage of 5x means that for every $1 you have invested, your buying power is $5.
How to Margin Trade Crypto
When you sign up to your crypto margin trading account, you will be able to choose the amount of leverage you wish to use. Depending on which platform you choose, and which coin, the leverage can be as high as 100x. With a leverage of 100x, this means that if a cryptocurrency's price increases by just 1%, your returns are 100% on your investment! Be careful that this is also true of the converse. If the price drops by 1%, you have lost your initial investment. You need to decide for yourself what your acceptable level of risk is, to choose the right leverage amount. Again, we must stress that margin trading is only for experienced traders, and is not recommended for those that are inexperienced but hoping to make a quick buck.
Conclusion
There are many trading options currently available for Australians that want to invest in cryptocurrency. If you are an experienced trader and confident that you want to margin trade, then choosing any of the platforms on this list are a great place to start.
However, if you realise that margin trading is too risky for you, a better alternative is to start with a crypto exchange where you can get a feel for how to invest in cryptocurrencies without the increased risk of margin trading. Here is a list where you can find some excellent crypto exchanges for Aussies.
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