Best Crypto Leverage Trading Platforms 2023

Crypto Winrate

March 21, 2023
Best Crypto Leverage Tradaing Platforms

Leverage trading cryptocurrencies on the derivatives market has become increasingly popular as the crypto adoption grows further and further. People notice that the crypto market is easily accessible, which makes cryptocurrencies a very attractive asset class to trade. Using the right trading platform is a crucial bridge to your success in trading. But with increasing popularity, we also see more and more shady trading platforms with high trading fees, fake data feeds, and many bugs and errors.

As a trader myself, I have tried over 50 different cryptocurrency exchanges in the last 5 years. I experienced rug pulls, ridiculously high fees, and horrible customer support. Let me save you time and money that would be wasted on horrible and even scammy trading platforms.

In this article, we go over the best leverage trading platforms for cryptocurrencies. Each trading platform presented in this article is a legitimate, licensed, and well-established exchange with all the features you need for the crypto leverage market, so you can trade without having to worry.

Furthermore, all of the presented exchanges are honest and reliable and have full proof of reserves, which means that all of your assets on the exchange are backed 1:1, in some cases even backed with more than 100%. And when it comes to volume and liquidity, all covered exchanges in this article regularly rank in the top 10 crypto leverage trading platforms worldwide, which leads to efficient price delivery and a low spread.

#1 MEXC Global – best crypto leverage trading platform

Founded 2018
Official Website https://www.mexc.com/
Licensed Yes
Supported Coins 1500+
Leverage Trading Fees 0% maker, 0.02% taker
Leverage 200x
Proof of reserves 100%
Transactions per second 1.4 million
Available in the USA Yes
Customer support 24/7 live chat

Starting off the list with the best cryptocurrency leverage trading platform as of 2023.

Founded in 2018, MEXC is a well-established trading platform and is not lacking in any aspect compared to its competition. MEXC even outshines them in most areas! MEXC is licensed and operates in many countries, including the United States, with an MSB license (Money Services Business).

Recently, MEXC worked a lot on their exchange. MEXC is now, without a doubt the number 1 cryptocurrency exchange when it comes to leverage trading. With 200x leverage and 0% maker fees, and 0.02% taker fees, MEXC is the sweet dream of every trader, especially day traders and scalp traders.

Low fees also means more profits. In leverage trading, fees eat up a large portion of your profits. Definitely check out our free win rate and profit calculator to see how much fees you would pay on different platforms and how your profitability changes.

MEXC does not only offer high leverage and low fees, but they also strive to bring you the most cryptocurrencies for your trading. With over 1500 supported coins, it is safe to say that you will find any coin you desire.

It is important to note that MEXC even has some of the best liquidity in the cryptocurrency space, which means you will get the best possible execution price for your orders. On top of that, MEXC is one of the top performers in terms of daily trading volume, reaching over $10 billion daily trading volume in 2023.

With an astonishing threshold of 1.4 million transactions per second, MEXC offers one of the smoothest trading experiences. This is an outstanding performance. For reference – most exchanges only manage to handle 100.000 transactions per second which can lead to network issues and transactions not being executed. MEXC also has a flawless user interface without any issues, even in very volatile phases. Many other exchanges are lagging behind when the cryptocurrency markets are turning wild again, which can lead to orders not being executed or even executed faulty!

To manage your risk, you have advanced trading options like a hedge mode so you can long and short simultaneously, as well as several order types. These include market, limit, conditional, stop loss and take profit orders. If you want, you can also change the website design by switching from light mode to dark mode.

In terms of security, MEXC is one of the few exchanges that are open about their reserves. They share the full data of proof of reserves. Unlike other exchanges, MEXC does not lend out your money. MEXC does not only hold 100% of your assets (1:1 ratio), but they cover even more assets than that. On top of that, MEXC is one of the most secure cryptocurrency trading platforms and has never been hacked.

If you are a mobile phone user, MEXC also has you covered with one of the best-designed apps with an incredibly responsive user interface. So if you want to catch trades on the go or look at live chart data, you can rely on MEXCs mobile application available for Android and iOS. Lastly, MEXC offers comprehensive 24/7 live chat customer support in English and email support in your local language.

With a 200x leverage on major coins and the lowest fees in the crypto market, overall, MEXC is the best option for leverage trading cryptocurrencies. For active traders, fees, liquidity, volume, and responsiveness are the most important factors when it comes to trading.

At the moment, MEXC beats their competition in most of these factors by a mile. Especially when it comes to low fees, high leverage, and high liquidity, MEXC is at the top of the game, and you definitely don’t want to miss out on their platform. We recommend you simulate your trades with our free profit calculator to see how much your profits change based on the fees. You can find this free tool here.

If you want to sign up to MEXC Global, you can use this link to receive a $10 bonus when depositing $1000 or more. If you are an active trader, you can even receive up to $9100 in total bonuses. This is definitely a great opportunity for new traders to kick start their trading, but also for experienced traders that are actively trading with bigger position sizes to unlock the full bonus.

Visit MEXC here

MEXC Pros Explained

  • Lowest trading fees of 0% maker and 0.02% taker fees for leverage trading.
  • High leverage of up to 200x for intra-day traders and scalp traders.
  • User-friendly and responsive interface, capable of 1.4 million transactions per second.
  • High liquidity for all major pairs and over 1500 coins to trade
  • Available to users from the United States
  • High security – never hacked

MEXC Cons Explained

  • No FIAT withdrawals available.
  • Only FIAT quick-buy for major coins available such as USDT, BTC, or ETH

#2 ByBit

Founded 2018
Official Website https://www.bybit.com/
Licensed Yes
Supported Coins 350+
Leverage Trading Fees 0.01% maker, 0.06% taker
Leverage 100x
Proof of reserves 100%
Transactions per second 400,000
Available in the USA No
Customer Support 24/7 live chat

ByBit is one of the biggest exchanges in terms of trading volume and a well-established leverage trading platform since its launch in 2018. They regularly rank in the top 10 derivatives crypto platforms sorted by volume.

With a unique user interface, high leverage, and low fees, ByBit offers crypto traders a good place to trade. The maximum leverage on ByBit is 100x, which is high but slightly less than the industry average of 125x. Some exchanges even offer 200x leverage. However, this is only relevant for high-frequency traders. For most traders, 100x leverage is more than enough. On top of high leverage, ByBit offers a great fee structure with 0.01% maker and 0.06% taker fees which is slightly better than the average fees.

As ByBit is a professional crypto leverage trading platform, you have all the options you need, like a hedge mode, advanced order types, and a comprehensive PNL page to track your trades and performance.

Bybit is a licensed crypto exchange with its headquarters in Dubai and operates in over 160 countries; however, they are not allowed to operate in the USA. Just like BitGet, you can access ByBit via VPN, but we don’t recommend doing so.

When it comes to security, ByBit has a flawless track record without any hacks. After the FTX falldown, many exchanges started sharing their proof of reserves. ByBit also followed this example to guarantee full transparency about user assets. Just like on MEXC and BitGet, you can view the Bybit reserve Ratio as well as your personal audit data.

For phone traders, ByBit offers an amazing mobile application for android and iOS which leaves no wishes open. You can execute trades, analyze live charts, see your PNL data, and more. Their app is definitely great for people that are not always at home on their desktop setup. So if you are on the go very often, do not worry, as ByBit has a perfect app for trading.

Just like all major exchanges, ByBit now offers copy trading and algorithmic trading. In terms of copy trading, ByBit is the market leader and beats BitGet by a little bit. So if you are looking for a way to make money passively, definitely look into copy trading on ByBit. But be aware of the risks involved in copy trading, as you give away all the power to the trader that you follow. If they make a mistake, you can lose all of your funds in the worst-case scenario., so never invest more than you can afford to lose.

One of the coolest things on ByBit is their yearly World Series of Trading competition (WSOT) and their trading bonuses. It is by far the biggest trading competition out there, with a prize pool of $6,000,000 in 2022. The WSOT is a great way to compete with other traders, challenge yourself and prove to everybody how good of a trader you are!

In terms of bonuses, ByBit offers up to $30,000 for active traders in the form of a derivatives trading bonus that you can use for your leverage trading.

When it comes to customer support, ByBit offers one of the fastest services. They offer knowledgeable 24/7 live chat and email support. I can personally say that ByBit had the best customer support for traders I have experienced so far.

ByBit is definitely a great option for traders. With low fees, high leverage, and high volume and liquidity, ByBit offers a great platform for leverage trading cryptocurrencies. The interface is one of the best and very simple and easy to understand, even for beginners.

ByBit Pros Explained

  • Low trading fees of 0.01% maker and 0.06% taker fees for leverage trading.
  • High leverage of up to 125x
  • User-friendly and responsive interface, capable of 400,000 transactions per second.
  • High liquidity for all major pairs
  • High security – never hacked

ByBit Cons Explained

  • No FIAT withdrawals available.
  • Only FIAT quick-buy for major coins available such as USDT, BTC, or ETH.
  • Not available to users from the United States without a VPN

#3 Binance

Founded 2017
Official Website https://www.binance.com/
Licensed Yes
Supported Coins 380+
Leverage Trading Fees 0.02% maker, 0.04% taker
Leverage 125x
Proof of reserves 100%
Transactions per second 1.4 million
Available in the USA Via binanceUS
Customer Support 24/7 live chat

Binance is the biggest exchange worldwide and is certainly a good option for trading. Founded in 2017, BInance quickly rose to the top of the cryptocurrency world. With an astonishing peak daily trading volume of $80 billion, Binance secures almost 50% of the crypto derivatives market share.

As the market leader in the crypto space, Binance has an attractive leverage market for crypto traders of all kinds. With a maximum leverage of 125x on major coins like Bitcoin and Ethereum, as well as some of the lowest trading fees, Binance offers leverage traders a great environment for their daily speculations. The fees on the Binance derivatives platform are 0.02% maker and 0.04% taker, which makes it one of the cheapest exchanges to trade on, so it attracts many leverage crypto traders.

As one of the most advanced crypto leverage trading platforms, Binance has all the features you need for successful day trading. Binance offers not only all basic orders like market, limit, take profit and stop loss, but even the most advanced order types, including:

  • TWAP orders
  • Post Only orders
  • Trailing Stop orders

One thing Binance is lagging behind in is their user interface. It is definitely an aspect they should improve on. Their interface is not the best, and their overall platform stability is lacking.

While Binance is by far the most comprehensive crypto exchange with the most features, in high volatility phases, Binance users can experience groundbreaking bugs and network errors. Unfortunately, I speak from experience and lost quite a few trades due to issues with the interface on binance. Some trades were never executed, and some positions just vanished as if they had never happened. This happened during extreme crashes where the volatility was the highest.

So for high-frequency leverage traders, I would look into other options like ByBit or MEXC. We still love Binance, but for active leverage traders that focus on quick moves (e.g., intraday traders and scalp traders), there are better options as of now.

For day trading and swing trading, Binance is still a great option, as you don’t have to act as quickly as high-frequency traders. Once those issues are solved, Binance will rank higher again on our list of the best crypto leverage trading platforms.

A very good thing about Binance is that they have a standalone desktop application for Windows, MacOS, and iOS and a mobile application for iOS and android. Their desktop application works very well and is a lot more responsive than their website. So if you are experiencing any issues with the browser version of Binance, definitely download the standalone desktop version and give it a try!

When it comes to security, Binance seems to be the most secure platform in the crypto space. While there was a cyber attack in 2018, no user funds were affected. Binance strives to be the most secure platform with its SAFU fund (Security Asset Fund for Users) worth over $1 billion. Binance allocates 10% of all trading fees generated on their exchange to their SAFU fund, so it grows steadily. Furthermore, Binance shares the full proof of reserves and is backing their users’ funds by a ratio of 1:1, in most cases even at a much higher ratio than 100%.

Important note: Binance has been restricted in many countries, such as Germany and the United States, due to regulations that lead to them offering different services to different countries. Things like offered coins, services, and leverage may differ depending on where you live. US users can not use Binance at all but have to use Binance.US instead, which is a completely different platform.

Binance Pros Explained

  • Low trading fees of 0.02% maker and 0.04% taker fees for leverage trading.
  • High leverage of up to 125x
  • High liquidity for all major pairs
  • High security – biggest security fund
  • FIAT withdrawals available

Binance Cons Explained.

  • Slow user-interface, capable of 400,000 transactions per second.
  • Not available to users from the United States
  • Service varies heavily based on location

#4 BitGet

Founded 2018
Official Website https://www.bitget.com/
Licensed Yes
Supported Coins 400+
Leverage Trading Fees 0.02% maker, 0.06% taker
Leverage 125x
Proof of reserves 100%
Transactions per second 150,000
Available in the USA No
Customer Support 24/7 live chat

BitGet was launched in 2018 and quickly became one of the biggest and most respected leverage trading platforms in the crypto space, with more than 2 million registered users as of 2023.

With 125x leverage, BitGet offers traders a great way to multiply their gains. The derivatives fees are 0.02% maker and 0.06% taker, which is fairly average. The best thing about BitGet is its leverage trading platform interface. They did an amazing job designing one of the most reliable and responsive user interfaces that ensure a great trading experience without any issues.

In terms of copy trading, BitGet is one of the market leaders in the whole cryptocurrency trading space. This is their flagship, and they strive to become the best copy trading platform in the coming years.

With 400 supported coins, BitGet is offering its users a lot of trading opportunities. BitGet also offers FIAT onramp in 15 currencies, including USD, EUR, GBP, and more. So if you don’t own any cryptos yet, you can buy them directly from BitGet. Alternatively, if you already own cryptos, you can easily send them to BitGet.

For customer support, BitGet has a comprehensive help center and 24/7 live chat support available for you.

Unfortunately, BitGet is restricted in the USA. You can access the BitGet trading platform with a VPN to change your location; however, we don’t recommend doing that, as this can get you in serious trouble. If you are a US resident, we recommend you look into MEXC as a reliable trading platform for US citizens.

BitGet Pros Explained

  • High leverage of up to 125x
  • Flawless user interface
  • High liquidity for all major pairs
  • High security – never hacked before
  • FIAT withdrawals available

BitGet Cons Explained.

  • Average trading fees of 0.02% maker and 0.06% taker fees for leverage trading.
  • Not available to users from the United States without a VPN

#5 OKX

Founded 2017
Official Website https://www.okx.com/
Licensed Yes
Supported Coins 360+
Leverage Trading Fees 0.02% maker, 0.05% taker
Leverage 125x
Proof of reserves 100%
Transactions per second No data
Available in the USA Partially
Customer Support 24/7 live chat

The 2017 founded, Seychelle-based, crypto trading platform OKX is a top 3 exchange in terms of derivatives trading volume, reaching up to $20 billion daily volume in 2023. With 362 available coins and 46 supported FIAT currencies, OKX has a wide offer for people from all around the world.

Being one of the top crypto derivative exchanges, OKX also offers a great platform for leverage trading cryptocurrencies. With derivatives fees of 0.02% maker and 0.05% taker, OKX is slightly cheaper than the competition. When trading cryptocurrencies with leverage, fees make a huge difference, even when it is a difference of just 0.01%. On top of that, OKX offers leverage with up to 125x on major coins like Bitcoin and Ethereum and up to 75x leverage for other altcoins like Polkadot, Litecoin, or Cardano.

In terms of user-friendliness and user interface, OKX ranks last, even behind binance. While the OKX interface is more responsive, it is the worst in terms of user-friendliness. OKX tried a new and innovative default design for their futures and derivatives platform. However, it turned out very confusing and much harder to use than other platforms. Luckily, they offer an option to change the layout to the industry standard when it comes to futures trading, which you can find in the top right corner. Yet, this can be very confusing, especially for new traders.

And, of course, when it comes to security, OKX is ranked amongst the highest. OKX was never hacked, and they have full proof of reserves, covering more than 100% of user assets. That means your assets are backed at least 1:1.

OKX Pros Explained

  • Low trading fees of 0.02% maker and 0.05% taker fees for leverage trading.
  • High leverage of up to 125x
  • High liquidity for all major pairs
  • High security – never hacked before

BitGet Cons Explained.

  • Only partially available to users from the United States without a VPN
  • No FIAT withdrawals available

How to select the right crypto leverage trading platform?

Now that you know the top 5 crypto trading platforms when it comes to leverage trading, it is time to choose the right exchange. All of these exchanges are great options to go with, and at the end of the day, it is most important that you feel happy and safe on the exchange that you use. There are many factors to go by. Our list focuses mostly on the fees, leverage, and of course, security. If you want to go by a specific metric, we ranked the best crypto exchanges by fees, leverage, security, user-friendliness, volume, and transactions per second below.

Best crypto leverage trading platforms sorted by fees (maker/ taker):

  1. MEXC (0% / 0.02%)
  2. Binance (0.02% / 0.04%)
  3. OKX (0.02% / 0.05%)
  4. ByBit (0.01% / 0.06%)
  5. BitGet (0.02% / 0.06%)

Best crypto leverage trading platforms sorted by leverage:

  1. MEXC (200x)
  2. ByBit (125)
  3. Binance (125)
  4. BitGet (125)
  5. OKX (100)

Best crypto leverage trading platforms sorted by security

  1. Binance
  2. MEXC
  3. ByBit
  4. BitGet
  5. OKX

Best Leverage trading platforms sorted by user interface and user friendliness

  1. MEXC
  2. ByBit
  3. BitGet
  4. Binance
  5. OKX

Best Leverage trading platforms sorted by transactions per second

  1. MEXC (1.4 million)
  2. Binance (1.4 million)
  3. ByBit (400.000)
  4. BitGet (100.000)
  5. OKX (100.000)

Best Leverage trading platforms sorted by trading volume

  1. Binance ($80 billions)
  2. OKX ($20 Billion)
  3. ByBit ($16 billion)
  4. MEXC ($11 billion)
  5. BitGet ($8 billion)

What is the best leverage trading platform for cryptocurrencies?

The overall best leverage exchange for cryptos is MEXC. They offer the lowest fees and the highest fees in the market. With 0% maker fees, 0.02% taker fees, and up to 200x leverage, you have everything you need for trading.

What does leverage trading crypto mean?

Leverage trading cryptocurrencies refers to borrowing money from the exchange to trade with a bigger position size. If you have $1000 in your trading account and you use a leverage of 100x, you can open a position worth $100,000

Should I leverage trade crypto?

Trading cryptocurrencies can be very profitable, but you can also lose all of your money. Make sure to understand the market before trading with real money. Once you understand how to trade profitably, leverage trading cryptocurrencies is a great option to multiply your wealth.

Can I lose more money than I have in leverage trading?

Trading cryptocurrencies with leverage on the derivatives or futures market can not lose you more money than you own. In case your balance could go negative, the exchange liquidates your position to prevent losses you can’t afford. That means you can never lose more than you have.

How much does leverage trading cryptos cost?

When trading cryptocurrencies with leverage, you only pay a small fee on the position size. The average leverage trading fees in the crypto space are 0% maker and 0.06% taker.

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Crypto Winrate

March 21, 2023