Best Margin Trading Crypto Platforms in Australia

Best Margin Trading Crypto Platforms in Australia

Robert McDougall

October 10, 2022

Cryptocurrency

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 all 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

Best Overall
9.9

✔️ Over 220+ coins available to trade

✔️ Up to 100x leverage, the highest we have found on any crypto margin trading platform

✔️ 0.06% taker fees, and 0.01% for makers

1,520+ coins
9.6

✔️ No KYC required so you can trade anonymously with your identity secure

✔️ 2,114 trading pairs and 1,520+ coins

✔️ Access up to 125x leverage

Free Trading Bot
9.5

✔️ Over 700+ different cryptocurrencies and deep liquidity

✔️ Up to 100x leverage, and low trading fees of 0.1% which can be reduced by paying with KCS token

✔️ Free crypto trading bots included in the platform

Best Margin Trading Platforms: Reviews

#1. Bybit: Best Margin Trading Exchange

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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 the highest leverage on margin trading, up to 100x which is quite generous, since some other platforms only offer up to 5x, and FTX has reduced their maximum leverage from 100x down to 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 220+ 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, without needing to make a deposit.

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

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Receive FREE $25 USDT by clicking here to register

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 125x, and you can trade anonymously, with no KYC required at all.

The trading fees are low on MEXC, at 0.2% for spot trading, and 0.02/0.06% (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 $25 USDT for opening an account, as well as 10% discount on your trading fees!

#3. KuCoin: 700+ Coins & Free Trading Bot

KuCoin is a very popular crypto trading platform with over 11 million users, and comes in at #2 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.

#4. Margex: Trade Anonymously - No KYC

MarketPlace Fairness SPECIAL OFFER

Receive FREE $100 + 15% BONUS (Click here)

$50 FREE after sign up

Additional $50 after $300 deposit

PLUS 15% of your first deposit FREE

Margex is our #3 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 13 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.

#5. Binance: Huge Range of 600+ Coins

Binance is widely-known as the largest cryptocurrency exchange in the world, based on trading volume and it is also one of the best exchanges for Australians. With over 600+ different coins available, and low trading fees of just 0.1%, there is no wonder it is so popular for margin traders.

Due to its size and popularity, the liquidity on the platform is extremely high, so you don't need to worry about waiting for orders to be filled. Users can access over 600+ trading pairs, up to 10x leverage for margin trading, and even take short positions if you believe that a coin is going to drop in value in the near future.

Trading futures is another option on Binance, that is quite a unique feature. Seasoned traders from the world of finance and forex will appreciate the derivatives and many other advanced features on offer from Binance. There are too many features to discuss here, but you can take a look at our full review to learn more.

Frequent traders will also be happy to hear that it is easy to discount the already low trading fees simply by paying in Binance's own cryptocurrency (BNB). You receive a 25% fee reduction by paying with BNB, which brings the 0.1% trading fee down to just 0.075%. If you are a large-volume trader, you can access even lower fees based on your previous 30-days of trades.

#6. 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.


Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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