This article will list the 10 best crypto futures trading platforms in Australia, their features, pros, and cons.
Crypto futures are contracts between two traders that bet on a cryptocurrencies future price.
Crypto futures allow traders or investors to speculate on the future price of cryptos and allow traders to gain exposure to select cryptos without purchasing them.
List of the 10 Best Crypto Trading Platforms in Australia
Here is the list of the 10 best crypto trading platforms in Australia:
SoFi is a finance company based in San Francisco, founded in 2011. This company offers various financial services such as banking, investing, and personal loans.
They offer cryptocurrency in addition to traditional finance. This platform offers users investment options for ETFs, IPOs, and stocks while giving investors the option to have SoFi automatically manage it’s investing for zero fees.
There are currently 30 cryptocurrency assets available for selling and buying on SoFi. It should be noted that there are no options for withdrawing or depositing cryptocurrency on SoFi.
- This platform allows users to invest in a range of products, including ETFs and stock
- SoFi allows you to purchase crypto by specifying the amount in USD instead of the cryptocurrency unit.
- The dashboard is easy to navigate
- This platform claims to have a good security
- It relies on external exchange to complete its cryptocurrency transaction
- This platform doesn’t charge any fees for withdrawals or deposits of USD.
- SoFi has crypto and stock assets available in one place, allowing you the opportunity to invest in both sectors.
- SoFi can help you meet your financial goals by automatically rebalancing and diversifying your portfolio at no cost.
- You can’t withdraw or deposit cryptocurrencies on SoFi.
- There are fewer cryptocurrency options on SoFi than on other cryptocurrency exchanges.
- The only option to sell and buy cryptocurrency with SoFi is direct with fiat, and there are no limited order options.
This platform launched in 2018 and offers the ability to spend cryptos with a prepaid Visa card.
Crypto.com is an excellent choice for frequent crypto investors looking to utilize cryptos for different use cases. Exchange benefits are extended for users who hold the native crypto token CRO.
- This platform allows users to sell, buy and trade over 250 different cryptos
- Crypto.com supports advanced order types, NFTs, and futures
- It offers crypto rewards credit cards and staking
- Investors with Crypto.com native token CRO can earn interest on staked investments.
- Deposits via bank transfer do not incur fees, and cryptos can be purchased at cost.
- This platform offers 20+ different fiat currencies for the purchase of 100+ cryptos.
- No basic information is provided for new users in the crypto sector.
- Due to the numerous feature lists, the platform can be overwhelming for new users.
- This platform’s access to features is limited.
KuCoin has become a market-leading crypto exchange that hosts over 201+ cryptos. This platform offers users a range of features, including futures trading, peer-to-peer exchange, margin trading, instant purchases, and staking. For cryptocurrency variety, KuCoin is a good choice.
- It has an excellent customer support
- It has a strong security
- It allows users to buy and sell over 200 cryptos with lows fees globally
- It has an excellent design and a robust trading platform to make trading easy
- This platform has over 200 cryptocurrencies to choose from.
- KuCoin offers high liquidity on most cryptocurrency markets.
- This platform upholds the decentralized belief by limiting KYC checks on customers.
- This platform might be intimidating for new crypto users
- Cryptos cannot be purchased on this platform with the use of bank deposits
Robinhood is an intuitive trading platform designed to access the financial markets easily. Cryptos can be exchanged 24/7 without commission fees, and accounts can be opened without minimum deposits. Robinhood offers users access to exchange-traded funds (ETFs), stocks, and options.
Through Robinhood Gold premium service, advanced features such as margin trading, research reports, and instant access to larger deposits. Investors can now also move their cryptocurrency from Robinhood to another wallet.
- This platform provides 100% commission-free stock, ETF, options, and crypto trading
- Advanced features such as margin trading, research reports, and instant access to larger deposits
- Easy access to the financial markets
- Robinhood offers users access to exchange-traded funds (ETFs), stocks, and options.
- Transactions are not charged a commission, which means cryptos can be exchanged freely.
- No minimum amount is required to sign up, which means the platform is accessible to all investors.
- Robinhood’s intuitive platform simplifies trading with a few taps.
- This platform does not offer phone or live web chat support for customers.
- Limited cryptocurrencies
This platform was formed as a US-regulated subsidiary of the Binance global exchange, which is one of the world’s largest in terms of the daily trading volume.
Offering an advanced and basic trading platform, the over-the-counter (OTC) service, and low fees mean it is an option for investors looking to make huge purchases in the crypto markets.
- Availability of educational resources
- Low trading fee
- Binance.US offers both an advanced and basic trading platform
- Any purchases over $10,000 can be completed using an over-the-counter (OTC) service to secure a competitive exchange rate with minimal transaction fees.
- Due to the success of Binance, Binance.US charges come with the lowest fees in the market.
- Within United State regulations, the exchange boasts one of the broadest ranges of cryptos.
- Restricted crypto selection compared with the parent Binance exchange.
- Strict AML/KYL procedures. Identity verification and signup may be slow for new investors.
- This platform is not yet accessible from every single state in the US.
6. FTX US
This platform was formed in May 2020 and offers users the opportunity to place complex market orders to trade leverage tokens and futures, options, and MOVE contracts. FTX platform focuses on trading crypto derivatives, and traders can exchange cryptos at the spot price.
- 2FA (two-factor authentication)
- A custom-built cold and hot wallet solution
- Instant purchase of cryptocurrencies directly with a credit card.
- 10x leverage can be applied when trading crypto pairs, which means profits can increase and vice versa.
- It allows for the instant purchase of cryptocurrencies directly with a credit card.
- This platform offers users a sophisticated trading platform on both mobile and desktop.
- FTX US has only been around since 2020 and hasn’t been tested as other platforms or exchanges.
- Limited customer service
- Most of the features may be intimidating to new users
eToro is often referred to as the social trading platform. This platform allows users to trade a vast range of cryptocurrency/fiat pairings, such as USD/BTC and EUR/XRP, utilizing multiple market orders. Users also access commodities, stocks, FX, ETFs, and indices.
- Spread fees based on the type of cryptocurrency
- More than 50 cryptos are available
- Track the trades made by profitable users and copy them if they wish to
- Ability to go short and long cryptocurrency pairing.
- This platform can track the trades made by profitable users and copy them if they wish to.
- Positions can be placed via limit and market orders.
- With eToro, traders can utilize leverage, offering the ability to go short and long cryptocurrency pairing.
- Each crypto is defined by a specific spread, making it complex to determine associated trading costs.
- The list of cryptos will be larger on another platform than eToro.
Coinbase is a tested route for those seeking to enter the space. This platform is known for its user-friendly interface, providing new and inexperienced users with a comfortable place to purchase a selection of high market cap cryptos.
- Beginner-friendly, easy-to-use interface
- Support over 100 cryptocurrencies
- Cryptocurrencies can be accessed almost instantly
- The coinbase interface is beginner-friendly, straightforward, and easy to navigate.
- Crypto can be purchased directly from Coinbase, meaning cryptocurrencies can be accessed almost instantly.
- This platform is US regulatory compliant, has been around for years, and holds 98% of cryptos offline in cold storage.
- Coinbase transaction fees are quite expensive
- Coinbase offers a lower selection of cryptos than other exchanges.
- Coinbase is not suitable for those looking to frequently exchange or trade cryptos.
The platform has served as a brokerage focused on easing crypto purchases through a vast range of payment options.
Users can purchase cryptos using debit cards, credit cards, wire transfers, Fedwire, Sofort, FasterPayments, and Apple Pay.
With a strong focus on customer support, Coinmama can be a convenient platform for those looking to make their first crypto transaction.
- Instant delivery
- A wide range of payment options
- Support multiple fiat currencies
- Coinmama is easy to navigate
- Coinmama supports a wide range of payment options.
- Purchases of cryptos are quick because users purchase directly from this platform.
- Other crypto exchanges beat Coinmama’s sales and purchase fees.
- Coinmama can only be used for crypto purchases.
- Customer support can only be found via email.
CoinSwitch is an exchange aggregator; it doesn’t focus on buying/selling cryptocurrency, and instead, it lets you trade cryptos through an order book for other cryptocurrencies.
This exchange finds the best rates across multiple crypto exchanges so the user can swap and trade cryptos with the optimum market rate at the time.
- CpoinSwitch offers the best rate
- Instant crypto trading
- Good customer support
- The platform is easy to navigate
- CoinSwitch is one of the fastest options for swapping cryptos.
- Over 400 cryptos can be exchanged via the platform.
- Inexperienced crypto users shouldn’t have much trouble navigating this platform.
- CoinSwitch focuses only on crypto-to-crypto exchanges. You cannot purchase cryptocurrency with fiat.
- Users must pay a network fee and exchange fee for each transaction.
- Although CoinSwitch supports 400+ cryptos, price slippage may be an issue for less popular cryptocurrencies.
Crypto is known for its volatile price swings, which makes investment in crypto futures risky.
Traders can choose from various venues to trade monthly crypto futures; some crypto trading platforms are regulated while others are not.
You can trade crypto futures at brokerages approved for options and futures trading; above is a list of the best brokerage to trade your crypto futures.
Watch the video below to know the best Crypto Futures trading platform in Australia: