In the crypto margin trading segment, there are a few exchange platforms that are most preferred and are used by traders worldwide. And, PrimeXBT is one of them. In a short period, it has grown exponentially, getting an average daily trading volume of $545 million.
Its powerful trade matching engine and lower order slippage percent have helped it to emerge as a highly reliable trading platform.
However, there are many exchange platforms you can find that are similar, powerful, and easy-to-use as PrimeXBT. In this guide, we will look at the top six alternatives to PrimeXBT, where you can trade crypto futures contracts.
Top Alternatives to PrimeXBT
- ByBit [Recommended]- 100x-Register Now
- FTX–50x- Register Now
- Phemex– 20x– Register Now
- StormGain–100x–Register Now
- Binance Futures–100x–Register Now
- Deribit–100x–Register Now
ByBit is a P2P crypto derivatives platform established in March 2018 and specializes in perpetual swaps. It offers trading in five different perpetual swaps BTCUSD, BTCUSDT, ETHUSD, EOSUSD, and XRPUSD.
Talking about leverages, it offers leverage of up to 100X on BTCUSD & BTCUSDT pair and up to 50X leverage on the rest three crypto pairs. ByBit boasts a smart trading platform that helps it to build trust and maintain transparency among users. Using the Advanced Mark & Index Pricing System, it helps to get the most reliable pricing.
ByBit uses the market maker/taker pricing model to calculate its trading fees. The market makers are offered a rebate of 0.025% and market takers have a taker fee of 0.075%. There is no identity or KYC verification process for users registering with ByBit. Currently, it serves over 300,000 clients worldwide.
ByBit is an unregulated platform and offers its services worldwide, however, its services are restricted in certain regions like the USA, Quebec Province of Canada.
Why Choose ByBit?
- High leverage of up to 100X on BTC trades and 50X on remaining crypto coins
- Smart trading platform useful for both professionals and beginners
- Competitive trading fee
- Supports anonymity
FTX is a new crypto derivatives trading platform, designed and built by traders and offers many innovative trading instruments. It offers both quarterly and perpetual futures contracts on almost all major cryptocurrencies.
Users can trade on 15 different perpetual swaps, tradable indices, and over 45 different leveraged crypto tokens. It offers up to 101X leverage on different crypto futures contracts, however, the exchange has set a 10X leverage on all the accounts by default.
Users do not need to undergo identity or KYC verification for account opening or registration, however, KYC verification is a must for withdrawals above $1,000.
FTX has a tiered fee structure depending on the 30-day average trading volume (USD) with maker fees ranging between 0.01%-0.02%. The taker fee ranges between 0.04% -0.07%. It operates in over 100 countries except for the USA, Crimea, Antigua and Barbuda and countries with economic sanctions.
Why choose FTX?
- Wide range of futures contract and other leveraged trading cryptoassets
- Competitive trading fees
- Simple user interface
Phemex is founded by ex-Morgan Stanley executives and launched its services late last year on 25th November. In a relatively short period, the exchange has successfully attracted the attention of many traders worldwide. The exchange claims to be the fastest crypto derivatives exchange.
It has a minimum latency of under 1 millisecond and supports 300,000 TPS, which is higher than any established exchange operating in the segment. One of the unique features of Phemex is, it offers both BTC and USD contract settlements. And, it supports six different crypto coins including BTC, ETH, XRP, LINK, XTZ, and LTC. You can also trade gold contracts with crypto.
The exchange offers leverage of up to 100X on BTCUSD crypto futures and up to 20X on remaining crypto futures contracts. For every trade in crypto futures contracts, it offers a makers rebate of 0.025% and a taker fee of 0.075%. The withdrawal fee is 0.0005BTC per withdrawal.
Why choose Phemex?
- Good trading platform for beginners
- Fast order execution and matching
- Simple UI and secure trading platform
StormGain is the newest crypto derivatives exchange platform in the block, rose to prominence in a very short period due to its solid platform design, high leverage on crypto futures contracts, and low fees. The platform is very useful for professional traders, offering a fully-featured trading platform integrated with advanced features like a limit order, stop-loss & take profit and AI-generated trading signals.
The platform supports six different crypto coins including BTC, BCH, ETH, XRP, LTC, and USDT, and offers leverage ranging between 50X-200X on different crypto futures contracts. StormGain is also among the few crypto derivatives platforms that support fiat deposits through credit cards.
StormGain offers its services in over 100 countries and has over 120,000 clients on its platform. It does not require identity or KYC verification of its users, which enables it to maintain the anonymity of its users.
Depending on the futures contract, StormGain charges a commission of between 0.06%- 1% per trade. And, it charges a daily rate of 0.40% on swap buy and sell. To start trading in StormGain, users need to make a minimum deposit of 50 USDT.
Why choose StormGain?
- High level of leverage of up to 200X
- A bonus of up to 15% on every deposit
- Fully featured trading platform
- Practice trade with 50,000 USDT funded demo account
From the house of a most trusted crypto exchange platform, Binance Futures Exchange is packed with features and offers a host of advantages to its users. In a very short period, it has established itself as a major player in the crypto derivatives segment with daily average volume exceeding that of its spot exchange.
Binance Futures Exchange offers 24 crypto futures contracts on its platform. It offers leverage of up to 125X on BTC futures contracts and up to 75X on the rest of crypto coins. And, its trade matching engine can handle trade up to 100,000 TPS with a minimum latency of 5 millisecond, which means fast trade order execution.
The platform does not support anonymous trading, which means users need to complete their identity and KYC verification to take advantage of all features. In respect to the trading fee, the exchange has a pretty straightforward fee structure and follows a tiered structure, divided into nine different levels. The default level (VIP 0) has a maker & taker fee of 0.020% and 0.040% respectively, whereas advanced level (VIP 9) has a maker & taker fee of 0.00% and 0.020% respectively.
Why choose Binance Futures Exchange?
- Deep liquidity
- Wide range of different crypto futures contract
- Competitive trading fee
- Users fund protected against hacking under SAFU Fund
- Can be accessed through both web and mobile app
Deribit is a Netherland based crypto exchange platform, specializing in futures & options of bitcoin and other cryptoassets. It offers perpetual swaps, futures, and options on both bitcoin and Ethereum.
On the BTC futures market, it offers a leverage of up to 100X and in options, the maximum leverage offered in 10X. It has the fastest API or trade matching engine in the industry with less than 1-millisecond latency. Its matching engine can handle limit order, market order, stop-market order, and stop-limit orders.
Deribit has two levels of KYC verification process (level 0 & 1) which gives you different types of trading capabilities. Regarding trading fees, for BTC perpetual and futures, the maker rebate is 0.025% and the taker fee is 0.075%. For ETH perpetual and futures, there is no maker rebate and the taker fee is 0.05%. And, for BTC & ETH option, the trading fee is 0.04% of underlying or 0.0004 BTC or ETH per option contract.
Why choose Deribit?
- Offers trading in all the instrument of the derivatives segment
- Fast trade matching engine
- Competitive trading fees
- No deposit and withdrawal fees
Conclusion: Best PrimeXBT Alternatives
If you are planning to go big in the crypto derivatives trading, then using the right trading platform is very important as it improves your success rate. And, depending on a single exchange platform prevents you from taking full advantage of the emerging crypto derivatives market.
Both the exchange platforms are stable and offer a wide range of trading options to its users. Moreover, both the exchanges have a reliable past and have been in existence for a few years.