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6 best Contract Trading platforms
Embarking on the cryptocurrency trading journey involves navigating a maze of platforms, each promising unique advantages and opportunities. Among the numerous options, contract trading has emerged as one of the top trading strategies, offering traders the ability to capitalize on market movements with leverage and flexibility.
In this article, we analyze the top 6 Contract Trading platforms and provide you with a better understanding so that you can make an informed decision.
Top 6 best Contract Trading Platforms 🏆
Contract trading (also called Futures or Perpetual Contracts) is a very interesting trading modality, since it is about anticipating a rise or fall in the price of a cryptocurrency in order to obtain profits. For such a reason, it is currently one of the most sought-after trading modalities.
There are cryptocurrency platforms that offer this modality, but often not with the specific functions required. For this reason, we want to show you the 6 best Contract Trading platforms that you can find.
Of course, to be successful in these markets you must have a pair (or 3) reliable platforms, since one may have a pair that the other does not. So we can recommend you to try and download some of them to be more successful.
Plataform | Advantages | Rating |
- TruBit Pro Perpetual Contract cross trades on the basis of perpetual contracts, eliminating the process and costs of manually trading in and out of different digital assets;
- TruBit Pro index pricing is based on 5 benchmark spot markets, providing significant value in technical analysis by removing noise from price data.
- TruBit Pro's commissions are relatively low in the industry, which helps maximize traders' profits.
- TruBit Pro's well-developed charts provide a large number of free indicators, display your orders on the chart, its unique configuration stands out from the crowd. | ⭐️⭐️⭐️⭐️⭐️ | |
- Binance has a wide range of cryptocurrency offerings, providing traders with ample options to diversify their portfolios.
- The platform's user-friendly interface accommodates both novice and experienced traders, making it easy to navigate and execute trades. | ⭐️⭐️⭐️⭐️ | |
- Bybit offers high leverage options, allowing traders to amplify their positions and potentially increase profits.
- The platform prioritizes security measures, implementing robust protocols to safeguard users' funds and personal information. | ⭐️⭐️⭐️⭐️ | |
- Kraken demonstrates strong regulatory compliance, instilling confidence in users as to the legitimacy of the platform and its adherence to industry standards.
- Transparent fee structures provide clarity to users, allowing them to accurately assess the costs associated with their activities. | ⭐️⭐️⭐️⭐️ | |
- Coinbase's beginner-friendly interface caters to users of all experience levels, simplifying the trading process and reducing barriers to entry.
- The platform offers insurance coverage for users' funds, providing an additional layer of protection against potential losses. | ⭐️⭐️⭐️⭐️ | |
- OKX boasts high liquidity, providing traders with ample opportunities to execute orders quickly and efficiently, even for large transactions.
- The platform offers a diverse selection of cryptocurrencies, allowing traders to access a wide range of assets and explore various trading strategies. | ⭐️⭐️⭐️ |
TruBit Pro
TruBit Pro is one of the first trading platforms in the industry to offer Perpetual Contract trading services. The Perpetual Contract, also known as Quanto Swap, allows users to hold multiple digital assets and use them as margin to trade various derivative contracts on the platform.
Advantages of TruBit Pro
✅ TruBit Pro Perpetual Contract cross trades on the basis of perpetual contracts, eliminating the process and costs of manually trading in and out of different digital assets;
✅ TruBit Pro index pricing is based on 5 benchmark spot markets, providing significant value in technical analysis by removing noise from price data.
✅ TruBit Pro's commissions are relatively low in the industry, which helps maximize traders' profits.
✅ TruBit Pro's well-developed charts provide a large number of free indicators, display your orders on the chart, its unique configuration stands out from the crowd;
✅ TruBit Pro adopts double risk limits to restrict the limit of contract size and overall account activities, thus reducing the occurrence of forced liquidations in extreme market conditions.
✅ 40+ contract selections.
✅ Support for 'Drag and Drop' customization on the contract trading page, allowing users to customize page components and layout according to their preferences.
Disadvantages of TruBit Pro
❌ The number of cryptocurrencies listed continues to increase, which could affect the user experience, especially if you come from larger platforms.
Binance
Binance is one of the largest cryptocurrency exchanges in the world, offering a contract trading service known as Binance Futures. With Binance Futures, users can trade a wide variety of cryptocurrency derivatives, including perpetual contracts, with up to 125x leverage. The platform provides access to a wide range of trading pairs and offers features such as futures contracts, options trading and more.
Advantages of Binance.
✅ Binance has a wide range of cryptocurrency offerings, providing traders with ample options to diversify their portfolios.
✅ The platform's user-friendly interface accommodates both novice and experienced traders, making it easy to navigate and execute trades.
Disadvantages of Binance
❌ Binance's leverage options are somewhat limited compared to other platforms, which can restrict more advanced trading strategies.
❌ Occasional crashes and technical issues have been reported, resulting in trading outages and frustrating experiences for users.
Bybit
Bybit is a cryptocurrency derivatives exchange known for its focus on perpetual contracts. Bybit's platform allows users to trade perpetual contracts of the most popular cryptocurrencies with up to 100x leverage. Bybit prioritizes security and provides advanced trading tools to meet the needs of professional traders.
Advantages of Bybit.
✅ Bybit offers high leverage options, allowing traders to amplify their positions and potentially increase profits.
✅ The platform prioritizes security measures, implementing robust protocols to safeguard users' funds and personal information.
Disadvantages of Bybit
❌ Bybit's coin offering is relatively limited compared to some competitors, which may limit diversification opportunities for traders.
❌ The interface may be perceived as complex by some users, especially those new to contract trading, leading to a steeper learning curve.
Kraken
Kraken is a reputable cryptocurrency exchange known for its strict regulatory compliance and robust security measures. Kraken's contract trading service, Kraken Futures, offers users the ability to trade futures contracts of various cryptocurrencies with up to 50x leverage. The platform emphasizes transparency and offers a user-friendly interface for traders of all experience levels.
Advantages of Kraken.
✅ Kraken boasts strong regulatory compliance, instilling confidence in users as to the legitimacy of the platform and its adherence to industry standards.
✅ Transparent fee structures provide clarity to users, allowing them to accurately assess the costs associated with their activities.
Disadvantages of Kraken
❌ Kraken's liquidity can be limited compared to other larger exchanges, which can lead to delays or difficulties in trade execution, especially during peak periods.
❌ Occasional delays in withdrawals have been reported, causing inconvenience to users who wish to access their funds quickly.
Coinbase
Coinbase is one of the leading cryptocurrency exchanges, known for its user-friendly interface and regulatory compliance. Although primarily focused on spot trading, Coinbase offers a limited contract trading service known as Coinbase Futures. With Coinbase Futures, users can trade futures contracts for select cryptocurrencies with leverage options available.
Advantages of Coinbase.
✅ Coinbase's beginner-friendly interface caters to users of all experience levels, simplifying the trading process and reducing barriers to entry.
✅ The platform offers insurance coverage for users' funds, providing an additional layer of protection against potential losses.
Disadvantages of Coinbase
❌ Coinbase's fees are relatively high compared to some competitors, which can erode traders' profits, especially for frequent or high-volume traders.
❌ Coinbase's leverage options are limited, which may deter more advanced traders seeking higher leverage ratios for their positions.
OKX
OKX is a cryptocurrency exchange known for its high liquidity and diverse coin offering. OKX's contract trading service, OKX Futures, allows users to trade futures contracts for a wide range of cryptocurrencies with up to 100x leverage. The platform offers advanced trading features and provides access to perpetual and quarterly futures contracts.
OKX Advantages.
✅ OKX boasts high liquidity, providing traders with ample opportunities to execute orders quickly and efficiently, even for large transactions.
✅ The platform offers a diverse selection of cryptocurrencies, allowing traders to access a wide range of assets and explore various trading strategies.
Disadvantages of OKX
❌ OKX's interface can be perceived as complex by some users, which can be challenging for those who prefer a more straightforward trading experience.
❌ Occasional technical issues and downtime have been reported, leading to trading disruptions and frustration among users.
What to consider when choosing a Contract Trading platform?
To choose the best Contract Trading platform, it is necessary to consider the following:
- Security: Security is paramount when choosing a trading platform. Traders should opt for platforms with robust security measures to safeguard their funds and personal information. This includes features such as two-factor authentication (2FA), cold storage of funds and regular security audits.
- Regulatory compliance: It is essential to choose a platform that adheres to regulatory standards in the jurisdictions in which you operate. Platforms that prioritize regulatory compliance instill confidence in traders as to the legitimacy and reliability of the platform.
- Liquidity: Liquidity is very important for efficient trading, as it ensures that orders can be executed quickly and at competitive prices. Traders should look for platforms with high liquidity in the trading pairs they intend to trade, as this reduces the risk of slippage and enhances the trading experience.
- Trading commissions: Trading commissions can significantly affect traders' profitability, especially for frequent or high volume traders. Traders should carefully study the fee structures of different platforms, including trading, financing and withdrawal fees, to assess the total cost of trading on each platform.
- Trading tools and features: Different platforms offer different sets of trading tools and features to meet traders' needs. Traders should evaluate the availability of advanced charting tools, order types, risk management features and other functionality offered by each platform to determine which best suits their trading strategies.
- Risk management: Contract trading carries inherent risks, such as market volatility and the possibility of losses. Traders should evaluate the risk management features offered by each platform, such as stop-loss orders, margin requirements and settlement mechanisms, to mitigate risk and protect their capital.
Conclusion
Contract trading, Contract Trading or Perpetual Contracts are a very popular modality nowadays. Due to its strategic nature, traders are looking for good platforms that allow them to trade and trade 24 hours a day.
These options that we present to you have several unique advantages, so it is best to have 2 or 3 options to diversify your portfolio and improve your chances of winning.
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