Best Bitcoin Derivatives Trading Broker
There are a lot of trading websites out there today that offer different types of trading platforms. Most of these websites may or may not have what you need in order to trade. This is where the “looking” starts. Looking for the best Bitcoin broker with derivatives trading can be a hard task due to the number of websites you need to go through. With this being said, we have extended our help to find you guys the best website to trade depending on your preferences.
As we all know, different people have different preferred websites. Some people might like their trading websites to be completely fueled by cryptocurrency, others don’t. With this obvious differences, we have listed five websites below with their general information like deposits/withdrawals, features, and currencies that are being traded along with their pros and cons.
But before moving forward, what is Derivatives trading? A derivative is a contract between two or more parties which is based upon assets. A good example would be bonds and stocks are they get their value from its relation to another asset. If you ask any experienced trader, there is a huge chance that they would choose Derivatives over anything else due to the money it rakes in.
The Top 5 Broker Platforms for Crypto Derivatives Trading:
Without further delay, let’s talk about that!
PrimeXBT.com
This new cryptocurrency margin trading platform established in 2018 is already very popular among professional crypto traders. For good reason, since the broker comes with a range of great features allowing new users get along with the trading platform very quickly. PrimeXBT offers cryptocurrency derivatives trading with up to 100:1 leverage – even for altcoins, which is unusual for crypto brokers.
- Deposit and Withdrawal Methods – Only BTC, no altcoins, no fiat money. Withdrawals aren’t limited.
- Website Features – The signup is as simple as can be, just email and password is required in order to be able to make BTC deposits and start trading – now KYC. The trading interface is simple and intuitive, the trading engine runs fast and smooth.
- Available Cryptocurrencies and Market – Besides their cryptocurrency derivatives (BTC, ETH, EOS, XRP) the broker also offers derivatives of traditional assets such as commodities, Indices and major Forex pairs.
Pros
- Cryptos and traditional products
- High Leverage
- Good Liquidity
- Anonymous trading
Cons
- So far nothing to mention
BaseFEX.com
BaseFEX is again a quite new crypto derivatives broker also offering high leverage of up to 100x. BaseFEX is a pure cryptocurrency broker, no other assets are provided. The coins you can trade in the form of contracts for difference are Bitcoin, Ethereum, Litecoin, Binance Coin, EOS, Cardano and 5 others which you directly find on their frontpage. Leverage for altcoins is not that high as in the case of BTC, but still you can trade alts with up to 50x.
- Deposit and Withdrawal Methods – Only BTC or USDT (Tether) deposits and withdrawals, unlimited as far as we know.
- Website Features – The website captivates by its simplicity, the makers wanted to create “finally a usable platform” where people can trade cryptocurrency derivatives, ans that’s what they achieved.
- Available Cryptocurrencies and Market – BaseFEX offers Bitcoin trading (BTCUSD) and 11 altcoins paired with BTC. The altcoins can be traded with 20x to 50x leverage, depending on the coin.
Pros
- Bitcoin and 11 altcoin derivatives
- High Leverage
- Anonymous trading
Cons
- 100x leverage only for BTCUSD
Overbit.com
Overbit is another broker with a clear concept – they offer cryptocurrency margin trading with perpetual contracts for difference, nothing else. A big plus of Overbit is that they don’t charge trading fees. The only fees that can occur are rollover fees on open position three times a day, at 01:00 UTC, 09:00 UTC and 17:00 UTC. Another point we need to mention is that overbit claims ID verification before new users are allowed to make a deposit and start trading. Even though the broker only allows BTC deposits and withdrawals.
- Deposit and Withdrawal Methods – only BTC deposits and withdrawals, no limits stated.
- Website Features – Easy to use trading interface.
- Available Cryptocurrencies and Market – on Overbit you can trade XBTUSD, XBTJPY, ETHXBT, LTCXBT, XRPXBT, EOSXBT, BCHXBT, ADAXBT, NEOXBT in the form of derivatives. At this crypto derivatives broker the maximum leverage is 50x (XBTUSD), for altcoins up to 20x.
Pros
- Bitcoin and 7 altcoins tradable
- High Leverage for BTC
Cons
- ID verification needed
- 50x leverage only for BTC
BitSeven.com
BitSeven is another crypto derivatives broker we need to mention is BitSeven, since this new professional trading platform comes with all features a crypto derivatives trader would expect – 100:1 leverage for BTCUSD, a very intuitive trading interface, a fast and stable platform and even no need for ID verification, which is mostly the case with brokers that only allow BTC deposits and withdrawals.
- Deposit and Withdrawal Methods – BTC deposits and withdrawals only. Maximum daily withdrawal is 10 BTC.
- Website Features – Smooth and easy to use trading machine. One feature they promote is bi-directional trading, which allows opening short and long positions at the same time.
- Available Cryptocurrencies and Market – on BitSeven you can trade Bitcoin, Etherum, Litecoin and Ripple – each against the US Dollar. So the altcoins aren’t traded against BTC, which is sometimes the case on other platforms (i.e. Overbit).
Pros
- Bitcoin and 3 altcoins tradable
- High Leverage for BTC
- Anonymous trading
Cons
- Could offer more altcoins
- No altcoins tradable against BTC
- 100x leverage only for BTC
Deribit.com
Deribit.com has been operating since 2016 and continues to provide trading services to its users. It is one of our listed websites for our best 5 due to one obvious reason; the website name came from Derivates + Bitcoin, hence the name Deribit. The website does not have any account limit verification since they complete run in BTC. Creating an account is very easy since you only need to provide an active email address, nickname, and password for the new account. Without further adieu, let’s look into what they’ve got.
- Deposits and Withdrawal Methods – Since the website only works exclusively with Bitcoin, this means that all their deposit and withdrawal methods are only for BTC. Compared to other websites that accept different payment methods, here you only have once choice. You only need to provide the BTC Address provided by the website for deposits and provide your personal BTC wallet address for withdrawals.
- Website Features – One of the most popular websites today would be Deribit, not because of their name but because of their 25 BTC insurance plan. What does this insurance plan get to do with a trader? Well, this simply creates a safety net for the company to not go bankrupt that easily because they have an insurance backup anytime they need it. They also have a live chat box where a registered user can chat with other traders of the website in live conversations.
- Currencies being traded – The website is so BTC focused that you only have BTC to trade with when it comes to tradable currencies.
Here at Deribit.com, you are only able to choose between contracts for futures and options depending on what you need. Read more about their fees here. They have a maker rebate of 0.02% and a taker fee of 0.05% for futures and a maker and taker fee of 0.04% for options trading.
Pros
- Insurance of 25 BTC
- Pure BTC website
Cons
- Only accepts BTC
- Website design not for new traders
Evolve.Markets
Listed as Evolve Markets Ltd., the website has been operating since 2016 and is located in Saint Vincent and Grenadines. Creating an account with them is easy and the best part is that traders are able to trade anonymously through their website. What’s even better is that they accept US customers!
- Deposit and Withdrawal Methods – The website purely operates with the use of BTC. This means that the only currency going in and out of the website would be Bitcoin. When it comes to withdrawals, there is no payment as they cover the network fees. They do have a minimum withdrawal amount and that would be 0.005 BTC and are done manual which may take up to 24 hours to complete.
- Website Features – Markets is one of the trading websites today that has a demo account that registered users are able to take advantage of. With a demo account, a user can explore the website’s trading platform without the risk of losing any real money on the process.
- Currencies being traded – Currencies that are being traded here are BTC/Fiat pairs, commodities, Forex, and Stocks. Read more about the complete review of the available markets here.
The leverage here at Evolve.Markets go up to 1:500, they have 24 Hour Trading and No FIFO Limits. They also have STP Market execution and No Re-Quotes which makes the website great.
Pros
- BTC oriented website
- Easy account creation (No ID required)
- Demo Account
- US-Friendly
Cons
- No Regulation
- Only accepts BTC
Conclusion
Mentioned above are five different websites that offer derivates trading along with their strengths and weaknesses. We hope that we have helped you in deciding which website to go with. We would just like to remind you guys that before you invest in a website; make sure to do final background checks just to make sure that you are investing in the right website. Good luck!