Best Crypto Futures Exchanges in the UK: Top Picks for 2024

When it comes to trading cryptocurrency futures in the UK, choosing the right exchange is crucial for both novice and experienced traders. Futures trading offers the potential for significant profits, but it also comes with high risks. To help you navigate the market, we’ve compiled a comprehensive guide to the best crypto futures exchanges available in the UK as of 2024. This guide covers key aspects such as trading fees, platform features, customer support, and overall reputation.

1. Binance

Overview: Binance is one of the largest and most well-known cryptocurrency exchanges globally. It offers a wide range of futures contracts, including Bitcoin, Ethereum, and numerous altcoins. The platform is renowned for its high liquidity and competitive trading fees.

Key Features:

• High Liquidity: Binance provides substantial liquidity for futures trading, which is crucial for executing large trades without significant price slippage.
• Advanced Trading Tools: The platform offers various advanced tools, such as futures charts, technical indicators, and real-time data.
• Low Fees: Binance’s trading fees are among the lowest in the industry, with additional discounts available for using BNB (Binance Coin) for fee payments.
• Security: Binance employs industry-leading security measures, including two-factor authentication (2FA) and an insurance fund to protect against potential losses.

Customer Support: Binance offers 24/7 customer support via live chat and email, ensuring that traders receive assistance whenever needed. The platform also provides a comprehensive help center with guides and FAQs.

Trading Fees: Trading fees on Binance start at 0.02% for makers and 0.04% for takers, which can be reduced further based on trading volume and the use of BNB for fee payments.

2. Kraken

Overview: Kraken is a well-established exchange known for its robust security features and a wide array of cryptocurrency futures contracts. It is highly regarded for its regulatory compliance and user-friendly interface.

Key Features:

• Strong Security Measures: Kraken has a strong track record of security, including a comprehensive security audit and insurance coverage for digital assets.
• Variety of Contracts: Kraken offers a diverse range of futures contracts, allowing traders to hedge their positions or speculate on various cryptocurrencies.
• User-Friendly Interface: The platform is designed to be intuitive and accessible for both beginners and experienced traders.
• Educational Resources: Kraken provides various educational materials to help users understand futures trading and improve their strategies.

Customer Support: Kraken offers support through a help center, live chat, and email. The exchange is known for its responsive and knowledgeable support team.

Trading Fees: Kraken’s futures trading fees start at 0.02% for makers and 0.05% for takers, with potential discounts for high-volume traders.

3. BitMEX

Overview: BitMEX is a popular platform among professional traders due to its high leverage and advanced trading features. It specializes in cryptocurrency derivatives and futures trading.

Key Features:

• High Leverage: BitMEX offers some of the highest leverage in the industry, allowing traders to amplify their potential returns.
• Advanced Tools: The platform provides sophisticated trading tools and analytics, making it ideal for experienced traders looking for complex strategies.
• Security: BitMEX employs robust security measures, including cold storage for the majority of funds and regular security audits.

Customer Support: BitMEX offers support through a ticket-based system and a detailed FAQ section. While it lacks 24/7 live chat, the support team is generally responsive.

Trading Fees: BitMEX charges a flat fee of 0.075% for takers and a rebate of 0.025% for makers. Fees may vary based on the specific futures contract.

4. Bybit

Overview: Bybit is a relatively new but rapidly growing exchange that has gained a reputation for its innovative features and user-centric design. It provides a range of crypto futures products and is known for its competitive fees.

Key Features:

• User-Friendly Design: Bybit’s platform is designed with user experience in mind, featuring a clean interface and easy navigation.
• Innovative Features: The platform offers features like perpetual contracts with zero funding fees, making it an attractive option for traders looking for flexible trading options.
• High Performance: Bybit is known for its high performance and fast order execution, which is crucial for active traders.

Customer Support: Bybit provides 24/7 customer support through live chat and email, along with a detailed help center and educational resources.

Trading Fees: Bybit charges a fee of 0.075% for takers and offers a rebate of 0.025% for makers. The platform’s competitive fee structure is designed to appeal to high-frequency traders.

5. FTX (Note: Please check the current status of FTX as it may be subject to regulatory changes or financial difficulties.)

Overview: FTX was once a major player in the crypto futures market, offering a wide range of products and innovative features. It was known for its advanced trading tools and competitive fees.

Key Features:

• Innovative Products: FTX offered unique products such as tokenized stocks and prediction markets, alongside traditional futures contracts.
• Advanced Trading Features: The platform provided various advanced trading tools, including algorithmic trading options and customizable charting tools.

Customer Support: FTX provided support through live chat and email. Its customer service was known for being responsive and effective.

Trading Fees: FTX’s fees were competitive, with a taker fee of 0.07% and a maker fee of 0.02%. The fee structure was designed to be attractive to both retail and institutional traders.

Conclusion

Choosing the best crypto futures exchange in the UK depends on your individual trading needs and preferences. Binance and Kraken stand out for their strong security measures and user-friendly interfaces, while BitMEX and Bybit are ideal for advanced traders seeking high leverage and sophisticated tools. It’s essential to consider factors such as fees, security, and customer support when selecting an exchange to ensure it meets your trading requirements.

In Summary:

• Binance: Best for liquidity and low fees.
• Kraken: Known for security and regulatory compliance.
• BitMEX: Preferred for high leverage and advanced tools.
• Bybit: User-friendly with innovative features.
• FTX: (Check current status) Known for its range of products and competitive fees.

Choosing the right exchange can make a significant difference in your trading experience, so take the time to evaluate each option carefully.