Top Crypto Futures Exchanges in Australia
Our team has conducted a detailed evaluation to unveil the leading crypto futures exchanges for Australian traders. Our methodology inspects each platform’s selection of cryptocurrency futures contracts, AUD fund management using domestic payment options such as PayID, Osko, and Bank Transfers, user experience, transaction fees, and safety measures.
Additionally, we validate their compliance with Australian Transaction Reports and Analysis Centre (AUSTRAC) and Australian Securities and Investments Commission (ASIC) regulations. Upon this robust investigation, we bring to light the top five crypto futures exchanges in Australia.
eToro stands as the premier choice for many Australian investors seeking to participate in futures trading. With an extensive offering of futures contracts on 3,000 cryptocurrencies, stocks, ETFs and more, eToro ensures that users can trade a vast range of assets with up to 10x leverage. Deposits in AUD can be easily made through bank transfers, credit or debit cards, and third-party payment services like POLi.
eToro maintains industry-leading fees and spreads, offering exceptional value for money. ASIC licensed, this platform prioritizes security, implementing measures such as two-factor authentication, secure storage for funds, and an insurance fund to safeguard users against unexpected market volatility. This makes eToro not only the best for futures trading but also a safe, regulated choice for Australian traders.
Bybit ranks as the second-best choice for Australian investors delving into crypto futures trading. While not as regulated as eToro, Bybit provides deeper liquidity across a wider spectrum of crypto assets. It hosts futures contracts for Bitcoin, Ethereum, Solana, and 100 other cryptocurrencies, with the advantage of up to 25x leverage. AUD deposits can be facilitated through various mediums including bank transfers and cards.
Bybit competes well on fees, with maker and taker rates of -0.025% and 0.075% respectively, incentivizing users to provide liquidity. Security measures include two-factor authentication, cold storage, and an insurance fund for market volatility protection. Although slightly behind eToro in regulation, Bybit remains a robust, high-leverage choice for crypto-inclined Australian investors.
Binance is a favoured choice among institutional investors in Australia due to its expansive range of available assets, futures contracts and deep liquidity. The platform offers over 350 spot markets and 80 futures contracts, as well as a variety of leveraged tokens and options contracts that are collateralized by USDC.
The platform supports AUD deposits through PayID, POLi, bank transfers and credit or debit cards, and its trading fees are competitively low, starting from 0.02% for makers and 0.04% for takers. Binance has a solid security framework, employing advanced technologies such as multi-tier and multi-cluster system architecture, and SAFU (Secure Assets Fund for Users) for additional protection.
dYdX stands out as the best decentralized futures exchange for Australian crypto traders. Offering perpetual contracts for Bitcoin, Ethereum, and a handful of DeFi tokens, dYdX allows traders to participate directly from their wallets, bypassing the need for KYC procedures. Although it doesn't support fiat deposits, users can easily trade their crypto assets with up to 20x leverage.
dYdX employs a unique fee structure based on the maker-taker model, with fees varying from 0 to 0.05%. As a decentralized platform, security is provided by smart contract protocols, which are regularly audited and updated.
KuCoin is favoured by Australian traders seeking a no-KYC futures platform. It offers a variety of futures contracts for over 50 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, with up to 100x leverage. However, KuCoin doesn't accept AUD deposits directly; users must deposit cryptocurrency or purchase it on the platform using a credit card.
Trading fees are competitively low, with makers and takers fees starting from 0.02% and 0.06% respectively. KuCoin has implemented robust security measures, including dynamic multifactor authentication and bank-level disaster-proof deployment.
Can you Trade Crypto Futures in Australia?
Yes, crypto futures trading is indeed permitted within Australia. The regulatory oversight for this form of trading is provided by the Australian Securities and Investments Commission (ASIC). The ASIC mandates that any platform facilitating crypto futures trading must possess the appropriate licensing to ensure secure and regulated trading practices. However, given the dynamic nature of cryptocurrency regulations, it's prudent to stay updated with the most recent changes. For the most reliable and current information, consider referencing ASIC's official digital asset policies directly.
What is Crypto Futures Trading?
Crypto futures trading refers to the act of trading agreements known as futures contracts, which stipulate the purchase or sale of a specific quantity of a cryptocurrency at a set price, to be executed at a predetermined future date. These contracts enable traders to make informed predictions on future price fluctuations of cryptocurrencies, thereby creating potential profits from both ascendant and descendant market trends. As a popular method to offset risks, secure prices, and attain exposure to the crypto market, it allows participants to engage without necessitating direct ownership of the underlying crypto assets.
The Bottom Line
In conclusion, crypto futures trading offers Australian traders an innovative and dynamic way to participate in the evolving world of cryptocurrencies. The selection of the right trading platform plays a pivotal role in this journey. This blog has explored the top five crypto futures exchanges for Australian traders, considering factors such as range of futures contracts, deposit options, transaction fees, security measures, and compliance with AUSTRAC and ASIC regulations.
The platforms - eToro, Bybit, Binance, dYdX, and KuCoin each have their unique features and benefits, offering varying degrees of regulation, asset diversity, leverage, and security. While regulatory norms should guide your choice, your specific needs as a trader should ultimately dictate your decision. As with all investments, always remain informed about changes in regulations and market trends.