On which platforms to trade cryptocurrency futures?

Since August 2, 2022, French Binance users can no longer use cryptocurrency derivatives: futures, leverage, tokenized shares, etc. What are the alternatives? On which platforms can you use these financial products?


Where to trade with cryptocurrency futures?

Since August 2, 2022, French Binance users can no longer leverage leverage on the cryptocurrency platform. While Binance was the market leader in France, many futures traders are looking for an alternative.

Futures are complex financial instruments that allow you to bet on the rise or fall in the price of a cryptocurrency, usually by adding lever.

Futures are part of the large group of cryptocurrency derivativeswhich also includes tokenized shares or leveraged tokens.

💡 Before you go any further, you should know that using leverage is riskyand that many investors lose all their money due to a misunderstanding of this mechanism. Yes, the potential gains can be significant, but so are the losses. Read our article on how leverage works for more information.

Even if you live in France, know at the time of writing these rules that you have every right to trade futures. The measures taken by the AMF only affect the platforms themselves.

This decision by Binance is not the result of chance and is the direct result of the company’s registration as a PSAN with the Autorité des marchés financiers (AMF).

If you are interested in futures trading, many other platforms offer to trade cryptocurrency futuresbut some stand out for their reputation, their liquidity or the number of cryptocurrencies on offer.

Here are 3 platforms we recommend if you want to use cryptocurrency derivatives.

Bybit: the most suitable exchange for new traders

A platform that is suitable for beginners but will also please the most experienced traders, Bybit offers more than 150 cryptocurrency futures contracts, with relatively large volumes.

Bybit stands out from other platforms because of its ease of usein particular thanks to very valuable features that are quite rare in the competition, including:

  • add orders with a single click on the chart;
  • change his orders (stop loss and take profit) with his mouse on the map.

Bybit’s standard fee is 0.01% for maker type orders and from 0.075% for taker type orders. Depending on the amount in your Bybit wallet and your transaction volume, it is possible to be exempt from fees for maker type orders.

In addition to cryptocurrency futures, Bybit offers a large number of services: launchpad, launchpool, copy trading, NFTs marketplace, options and of course spot market.

All details regarding the rates charged by Bybit can be found on this page.

Leverage specialist

Wins and losses are multiplied, be careful!

👉Consult our presentation and our opinion about Bybit

FTX: the platform for professionals

A platform more suitable for traders already used to futures, FTX offers many different futures contracts, and not just in cryptocurrencies. The platform is now one of the leaders in the industry and has significant liquidity.

In addition to cryptocurrency futures, it is possible to trade leveraged tokens and tokenized stocks on FTX. There is also a spot market.

Regarding the fees applied by the platform, they are a function of 2 factors: the user’s monthly volume and the amount of FTT tokens he holds.

Standard costs are: 0.02% for maker type ordersand from 0.070% for taker type orders. By staking 25 FTT on the platform i.e. nearly $800 at the time of writing these rules, Maker type orders are exempt from fees.

Visit this page to learn more about FTX fees.

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👉 Find our full review on FTX

Crypto.com: A Complete Ecosystem

Crypto.com, a well-known platform for its crypto card and mobile application, also offers cryptocurrency futures.

On Crypto.com, futures trading fees are proportional to the user’s monthly transaction volume, but also in accordance with the number of CRO tokens placed on staking.

Standard costs are 0.05% for maker-type orders and 0.07% for taker-type orders. Full details on Crypto.com fees can be found on this page.

Although more expensive in fees than its competitors, Crypto.com offers a complete ecosystem of solutions for investing in cryptocurrencies. The platform offers a spot market, of course, but also a trading bot, CRO token staking, yield farming, and even direct loans backed by cryptocurrencies.

The most complete crypto application

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Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and cannot be held responsible, directly or indirectly, for any damage or loss caused by the use of any good or service mentioned in this article. Investments related to crypto assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article is not investment advice.

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