Trade cryptocurrency on margin
Bitmex doesn't have a withdrawal limit, compared to other brokers. So big position traders can claim their profits unrestrictedly. The platfrom processes cashouts with manual review once a day, for security reasons. Whaleclub offers different leverage rations for different cryptocurrencies. On Bitcoin the margin trading is available up to 20x, with a maximum position size of 40 BTC this data might get addapted.
Whaleclub is also a BTC broker which embraces anonymity, so users don't need to provide ID verification at any time. Withdrawals are without any daily or monthly limits, so traders get their Bitcoin or Dash at any time. Financing Rates Whaleclub generally doesn't charge fees on trades. The availability of Demo Trading on Whaleclub is a great feature for beginners. SimpleFX is a highly specialized broker which offers a maximum leverage of 6x for BTC trades against fait money.
Leverage for Altcoins depend on the coin and are usually lower. Traders don't have to verify their account in order to use margin trading. Only the option to use fiat currency payments requires an account verification, as usual. Fiat currencies supported At verified accounts traders can deposit and withdraw major fiat currencies.
Withdrawals are proceeded through the same payment method as the preceding deposits or as the biggest preceding deposit. Bitfinex allows bitcoin margin trading up to 3. Bitfinex also has its own Margin Trading Wallet. This separation of an extra wallet for margin trading within user accounts is very useful as it helps to keep control of margin funds. Strangely, the platform doesn't allow margin trading, or trading in general, for US citizens anymore.
But this only concerns verified accounts. US traders with basic accounts which don't provide information where somebody comes from, just e-mail and password are able to trade with leverage.
However, there will be no support of USD deposits or withdrawals, as basic accounfts allow crypto transfers only. Bitfinex is amoung the brokers which is also used by big position traders, as the high trading volume maximizes chances that large orders get filled.
With a verified account traders except US can deposit and withdraw US dollars. Such accounts of course aren't anonymous anymore, as people have to provide their real name and bank information. That way you can start using Bitfinex even if you don't own cryptocurrencies yet. Deposits and withdrawals are possible for all supported cryptocurrencies, already in unverified basic accounts.
OKCoin is one of the largests Chinese Bitcoin tadings sites, so again great for big position traders. The broker offers the option to trade on margin up to 3x leverage with a maximum amount of ,USD.
OkCoin is a good choice for traders who want to be able to cashout USD. The account has to be fully verified, so a photo ID has to be provided. While Bitcoin withdrawals are available from Level1 basic account with phone- and e-mail verification , USD can only be cashed out with a Level2 account with photo ID provided.
OkCoin is a highly professional trading site with all types of orders which are needed for professional trading. As Poloniex is a specialized altcoin trading platform, their main focus lies on providing a big altcoin portfolio.
They are one of the very few platforms which support trading certain altcoins on leverage. Deposits and Cashouts in Cryptocurrencies only: Traders can deposit all supported altcoins and withdraw them as well. Fait money on the other hand is not supported at all. Tether is a crypto substitute for USD. Platforms which don't support fiat money always use USDT, so traders can still trade against the Dollar. The professional international broker supports fiat money payments as well as cryptocurrency transfers.
A account verification with photo ID is only required for fait money transfers. Users who only want to make cryptocurrency deposits don't need to proof who they are. Magnr offers up to 10x leverage in Bitcoin trading. Users are required to pay daily interest fee on the loan outstanding. However the service is free during the first 24 hours.
Magnr is a handy cross-platform trading site connected to a few big Bitcoin exchanges. Accounts never require any personal data or identitiy proof. So signup is quick and possible with anonymous data. Deposits and Cashouts in BTC only: They don't support fiat payments, so deposits and withdrawals are available for BTC only. Leverage is available at Kraken up to 5x for several cryptocurrency pairs, including bitcoin. To calculate the liquidation price we need to know the price to sell the BTC at to end up with that amount: This can vary a bit, due to interest payments and fees.
Note that when you are margin trading you will be borrowing funds and interest rates will be charged. The rate is determined by our p2p liquidity providing platform and depends on offer and demand. When you open a margin position long or short the needed liquidity will be automatically borrowed at the best available rate. The system takes the best available offer s , i.
Period is not relevant for matching the margin trader's demand to available offers. When a margin funding contract used in an active margin position expires, the system automatically renews the margin funding demand again to the best available offer s. Bitfinex Knowledge Base Trading. How do I close an open position? What interest rate is charged on margin positions?