The platform’s advanced trading tools and features are designed to meet the needs of day traders. PrimeXBT offers a powerful and customizable trading interface, real-time market data, interactive charts, and a variety of technical analysis indicators. The exchange boasts a high liquidity level, thanks to its large user base and extensive trading volume. This means that traders can easily execute their trades at the desired prices without experiencing significant price slippage. The availability of ample liquidity allows day traders to enter and exit positions swiftly, enabling them to capitalize on short-term price movements efficiently.

It provides a robust trading platform with advanced charting features, high liquidity, and a vast selection of cryptocurrencies to trade. The sophisticated interface caters to both beginner and experienced traders, offering features like spot trading, futures, and options. It’s also globally accessible with low fees, making it a popular choice for day traders.

Copy Trading

Then, do your own calculations to determine which exchange actually has the lowest fees. If you’re an advanced crypto trader, you may want to make sure your preferred exchange offers the trading types—like limit orders, which can prevent slippage by setting a hard price—and margin you want. Remember trade types involving the latter are still evolving in the U.S., so different exchanges’ offerings may vary over time. For each ranking, the sum of weighted values across all or some of these key factors was calculated to award each brokerage or exchange its overall rank. Margin trading, platform lending and advanced trading were not considered for choosing the best crypto exchanges for beginners.

• 67% of retail investor accounts lose money when trading CFDs with this provider.
• If you want to practice trading cryptocurrencies via MT4 – AvaTrade offers a day trading simulator.
• An opportunity opens if the market has not fully priced the news in its valuations.
• It’s worth noting that the lower volume of transactions on the bitFlyer exchange may impact your ability to complete trades at the prices you want.

Knowing you can rely on a responsive support team is essential to be considered one of the crypto trading terminal. Coinbase is well-suited for beginners and investors who prioritize user-friendliness and a simple interface. It provides a secure platform and supports a limited number of popular cryptocurrencies. On the other hand, Binance is more suitable for advanced traders who require a wider range of trading pairs, advanced charting tools, and a high level of liquidity. Out of 50+ exchanges and crypto day trading platforms tested, 6 made it to our top list.

Kraken

Onboarding with the exchange is particularly easy with a variety of payment methods for different fiat currencies such as USD, GBP, EUR, and AUD. Funds can be allocated to a trading account using a credit and debit card but the fees are quite expensive at 3.99% for most regions. Moreover, Bybit is one of the best crypto margin exchanges due to its variety of markets to hedge a portfolio against volatility. The derivatives products offered are one of the largest selections and include USDT perpetual, inverse perpetual, inverse future, USDC perpetual, USDC options, and leveraged tokens. Considering that transaction charges have the biggest impact on day trading profits, you would want to go where fees are lowest.

This amount allows you to diversify your portfolio, which can provide a buffer against potential losses when trading crypto. Finally, Delta.Exchange provides top-tier security measures to protect user funds. Although you do not need KYC to deposit fiat or crypto to the exchange, you will want to have it done before making any withdrawals from there. The exchange, though, has had bad experiences with being hacked twice in the past and according to them, the recovery was successfully completed, and the bugs that allowed it to happen have been patched up. When you keep less than $50,000 in volume and a TRX balance of less than $49, you pay 0.2%/0.2% for regular trading and 0.145%/0.155% for TRX trading. If you are worried about whether the platform is reliable even after the fact that they are a publicly traded company, they hold an e-money license from the FCA (Financial Conduct Authority) in the UK.

Bitfinex – A crypto exchange catering to advanced traders

The average trade duration can be a matter of a few seconds for crypto scalpers, to several minutes or even hours for a trade to unfold in the desired direction. The opposite is true for swing traders and long-term position traders or investors that can hold positions open for days, weeks, or months. Given the fast pace of the strategy, day trading crypto carries a high degree of risk and is not suited for beginners or inexperienced traders.

• We also explored whether exchanges offered services both for individuals and institutions, and we paid close attention to other account options like staking rewards, margin trading, and Stablecoin support.
• What’s more, the platform offers users to start off with a $100,000 demo account where they can give their strategies a shot before committing to more serious trading.
• Users can deposit fiat or buy crypto directly with fiat using various methods, including credit/debit cards and bank transfers.
• It offers a range of advanced trading tools, including real-time market data, customizable charts with technical indicators, and a variety of order types such as limit orders, market orders, and stop orders.

We love Coinbase because it removes roadblocks to funding by allowing users to connect the same bank account for both deposits and withdrawals, smoothing out both processes. Otherwise, you may need to rely on Coinbase alternatives for funding sources which are not as seamless. RSI measures how extended a directional movement upwards or downwards is. With this indicator, a trader can identify at which position they are best suited to take profits and exit or make counter-trend trade.

Coinbase Exchange

After all, by day trading, you will be looking to enter a position and then close it a few minutes or hours later. In order to make sensible and risk-averse decisions, you will need to understand how to deploy indicators and drawing tools. Interactive Brokers is also a great option if you are interested in crypto derivatives.

• They don’t care about crypto’s legitimacy, or whether its tokenomics is sound.
• Live chat and forums are useful features for solving problems, but a 24/7 customer care hotline is ideal.
• Traders can use these order types to specify the entry and exit points for their trades, set stop-loss or take-profit levels.

Our editors are committed to bringing you unbiased ratings and information. We use data-driven methodologies to evaluate financial products and companies, so all are measured equally. You can read more about our editorial guidelines and the investing methodology for the ratings below.

Bitstamp – Most Secure Crypto Exchange for Day Trading

Webull charges no fees for cryptocurrency trades beyond a 1% spread for each trade, but has relatively fewer cryptocurrencies on offer. When the price of a crypto pair consisting of a lesser-known altcoin and Bitcoin varies from one exchange to another, arbitrageurs can make a profit by taking advantage of the value difference. While arbitrage is a complicated financial mechanism usually automated by price-monitoring software, it keeps the digital asset prices stable between different exchanges. Arbitrage in crypto is when traders buy a cryptocurrency on one exchange and make a profit by selling it immediately on another exchange at a higher price.

• A sound understanding of market patterns and a robust day trading strategy are necessary to make the practice profitable.
• For example, while a 10% increase in value within a single day is unusual for typical stocks or commodities, such drastic jumps are commonplace in crypto.
• The information provided on this page is for educational purposes only and is not intended as investment advice.
• The methodology used in this comparison article involved a comprehensive review process.
• This includes a fixed rate and tiered rate – with the latter being more preferable for large-scale traders.

It’s crucial to have a risk management strategy in place when day trading cryptocurrencies. Crypto exchanges are international companies that provide a marketplace for traders and investors to buy and sell digital assets. Users tend to prefer the more convenient and streamlined experience of trading on centralized crypto exchanges, but they are exposed to slightly more risk as the exchange takes custody of their funds.

How to Choose a Cryptocurrency Exchange

Your average crypto day trading platform has improved significantly over the past couple of years. As a day trading platform, Binance is right up there as is the case with any other lists regarding crypto exchanges. The platform has low fees of 0.0108%/0.027% per transaction, and it can further be decreased based on your trailing 30-day trading volumes. More than just a convenient way to trade fiat for cryptocurrencies, crypto exchanges are the predominant way to trade, hold and even invest in digital assets today.

• Gate.io has a VIP16 tier for spot trading that needs you to have a 30-day trading volume of $3 billion to avail of the maker/taker fee of 0% / 0.02%.
• Bybit is a popular cryptocurrency exchange that’s a solid option for crypto day traders.
• The platform utilizes cutting-edge day trading technology and algorithms to execute trades swiftly and accurately, allowing traders to capitalize on market opportunities.
• For day traders, the sale of any crypto held for less than a year is taxed as marginal income.
• Diversifying an investment portfolio goes hand in hand with managing the portfolio.
• But institutional clients can take advantage of expert insights, one-on-one consultations, account management support, and more.

The Seychelles-based platform’s headquarters have only been operational since 2019 at the latest. Leveraged margin trading crypto is where the exchange primarily focuses its attention. With a multiplier, you can predict a price fall or – increase by going short or long. Among all the operators listed, this is one of the best exchanges to short crypto due to its ease of use. We’ve compiled some of the best cryptocurrency exchanges for buying and selling crypto assets.

The best crypto exchanges for day trading

This is because the broker gives you direct access to Bitcoin futures that are listed on the CME (Electronic Globex). This means that you can go long or short on Bitcoin, as well as trade on margin. You will find a wide variety of digital currencies on the Coinbase website that can be purchased with ease. You will pay 3.99% to buy a crypto asset direct with your debit card – which is expensive.

Choosing the – requires careful consideration of these factors. It’s a personal decision that should align with your specific trading goals, risk tolerance, and trading expertise in trading crypto. The bare minimum to start trading on many crypto exchanges is to deposit funds as low as $10-$20. This accessibility is part of the reason why crypto trading has gained such widespread popularity. Cryptocurrency day trading and regular day trading follow the same fundamental principles, with the main difference being the asset being traded. Another key distinction is that the crypto market operates 24/7, unlike traditional stock markets that have specified trading hours.

Cryptocurrency Exchange Reviews

The catch with taking this route is that you won’t have as many crypto-specific features as you would with a Kraken or Gemini. Day trading in the crypto world tends to happen in spot positions owing to daily volatility and lack of a Demat account, where you have to wait and take possession of the purchased assets. A complex, non-intuitive user interface can slow you down and make your advanced trading experience frustrating. The crypto exchange will be housing your funds, and with the frequent transfer of assets, you need to be assured that your investments are protected.

• While exchanges often reimburse those whose coins are stolen, nobody wants to be in that position in the first place.
• Look for security measures like two-factor authentication, encryption technology, withdrawal whitelist, and cold storage when trading crypto.
• Setting time aside to focus solely on your trades, measuring profits and losses, and sticking to a fully-fledged strategy are the key factors that separate crypto day trading from gambling.
• As a retail trader on the exchange, you will be considered a market taker by cryptocurrency exchanges and will pay commissions accordingly.

When the price of bitcoin dips due to downward pressure, the altcoin market tends to fall with it. The availability of coins alone isn’t sufficient if there are no trades happening. You’ll ideally want to verify that there’s sufficient trading volume in your target coins to ensure liquidity, so you can easily trade your coins and dollars.