Best Margin Trading Crypto Platforms in Australia

Best Margin Trading Crypto Platforms in Australia

Daniel Chan

June 1, 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 on this page 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 I list 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

✔️ Over 160+ trading pairs available

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

✔️ 0.06% taker fees, and 0.01% for makers

Most Secure

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

✔️ Low fees: 0.019% maker fees, 0.060% taker fees

✔️ Access up to 100x leverage

Most Coins

✔️ Over 600+ different cryptocurrencies and deep liquidity

✔️ Over 600+ trading pairs and up to 10x leverage

✔️ Trading fees: 0.1%, which can be reduced by paying with BNB cryptocurrency

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 2 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; their derivatives markets are USDT Perpetual contracts, Inverse Perpetual contracts, and Inverse Futures contracts, and Spot trading is supported, with over 160+ 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. Margex: Trade Anonymously - No KYC

Margex is our #2 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.

On the downside, Margex only offers 8 cryptocurrencies (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.

#3. 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.

#4. FTX: Low Fee Margin Trading Platform

FTX is an excellent crypto exchange with over 275+ coins, founded by the great Sam Bankman-Fried, (also known as SBF). He is a young entrepreneur with an interesting leadership style and a focus on altruism. He is known for being easy to contact on Twitter to deal with any issues on FTX, and even quickly adds features to the exchange when traders inform him that something is missing.

FTX was built by traders, and therefore has a heavy focus on trading, and all the products that come with it. There are derivatives, options, volatility products and leveraged tokens readily available on the crypto trading platform. Experienced traders and institutional traders will love the features on FTX, and can always reach out to SBF on Twitter if they have suggestions on new functionality.

Leverage on FTX used to be up to 100x, but SBF has reduced the maximum to 20x in response to claims that high leverage is the cause of major volatility in the crypto market. Although SBF rejects the idea that high leverage is the cause of volatility, he has made this move to placate regulators.

FTX's trading fees are ridiculously low: the maker fees are just 0.02% and taker fees are 0.07%, and you can reduce that if you are trading large volumes, or if you own and hold FTX's coin (FTT). We also have a great deal for you - 5% off your trading fees forever if you sign up with this link!

Although primarily a crypto trading platform, there are other features that investors may enjoy, such as prediction markets. You can use your FTX account to bet on different events that are happening in the world, such as sporting matches, presidential elections, and more.

#5. KuCoin: Free Trading Bot

KuCoin is a very popular crypto trading platform with over 8 million users around the world. They offer over 600+ different coins, with low trading fees of just 0.1%. Similar to Binance, you can receive a discount on your trading fees if you pay with the native cryptocurrency of the exchange. When you pay your fees using KCS coin, you receive 20% discount, so your fee is only 0.08% per trade.

Users can margin trade on KuCoin with up to 10x leverage on many different coins. Some of the most popular cryptocurrencies that users like to margin trade on KuCoin are BTC, ETH, SAND, SOL, MATIC, CRO and XRP. If you want to trade futures, you can even access up to 100x leverage on BTC and ETH and up to 20x on plenty of other coins.

Another excellent feature on KuCoin that can help you maximise your profits is the free trading bot. You can automate your trades based on set parameters so you can continually trade even when you are asleep. 

#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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