10 Best Crypto Exchanges for Day Trading in 2024

Kane Pepi | Verified by Medb Kiely-Cuddy

Last updated: April 9, 2024 09:21 EDT | 22 min read

Selecting the best crypto exchange for day trading is crucial. You’ll need a trusted exchange with low commissions, tight spreads, and plenty of liquidity. Not to mention a wide range of markets and analysis tools.

Read on as we rank and review the 10 leading platforms for crypto day trading in 2024.

Top Day Trading Crypto Exchanges Compared

Below, is a table comparing the spot trading fee, number of tradable coins, trading volume rank, and leverage of the best day trading crypto exchanges in April 2024. We also included whether US clients are accepted.

The Best Crypto Exchanges for Day Trading Reviewed

We’ll now discuss the best crypto exchanges for day trading in detail. Read on to choose the most appropriate trading platform for you.

1. Binance — Overall Best Crypto Exchange for Day Trading

The best crypto exchange for day trading is Binance. Almost $50 billion worth of spot trades have gone through Binance in the last 24 hours. This is in addition to over $110 billion in derivative volume. What’s more, Binance claims more than 181 million users, and offers everything a day trader needs to make consistent gains.

For a start, day traders pay just 0.1% per slide when trading the spot markets. This is reduced when holding BNB or meeting 30-day trading milestones. Hundreds of cryptocurrencies are listed on Binance, so you’ll never be short of trading opportunities. You can also trade leveraged futures and options. The maximum leverage limit is 100x.

Binance is also a great choice for technical traders. Its charting screens are integrated with TradingView. This means day traders can access over 100 indicators and drawing tools. Binance welcomes traders from most countries, including the US. Americans need to use the Binance.us website, which comes with reduced functionality.

2. Coinbase Advanced — Trusted Crypto Exchange With Tier-One Security

Next is Coinbase Advanced (formally Coinbase Pro). This is Coinbase’s sister platform, accessible through the same account. Coinbase Advanced comes with considerably more features than its primary exchange. This includes advanced charting screens with TradingView integration. Charts can be customized too.

You’ll also find in-depth order books and several order types to choose from, including stop-losses and take-profits. Coinbase Advanced is also more cost-effective than Coinbase. Trading commissions start from 0.6% per slide. Hitting 30-day trading minimums will reduce the commission.

We also like that Coinbase Advanced supports spot trading and derivative markets. The latter includes perpetual futures with 10x leverage. As a US-based exchange with a NASDAQ listing, Coinbase Advanced is a great option for Americans. It’s also a solid option for safety. Coinbase deploys institutional-grade security tools, including 2FA, device whitelisting, and cold storage.

3. OKX — Day Trade Over 500 Crypto Pairs at 0.1% Commission

We found that OKX is one of the best crypto exchanges for day trading with low fees. It offers a maker-taker structure, and fees are lowered when trading volumes increase. In simple terms, beginners pay 0.1% per slide, or $1 for every $1,000 traded. The lowest commission available is 0.015% per slide. Commissions can also be reduced when holding OKB tokens.

OKB is OKX’s native cryptocurrency. It takes seconds to join OKX. Deposits can be made with Visa, MasterCard, and local banking methods. OKX also supports peer-to-peer payments. Day traders have many options when speculating on crypto. OKX supports spot trading markets, not to mention perpetual and delivery futures.

Margin accounts and options are also available. OKX also supports copy trading and automated bots. Almost $7 billion was traded on OKX in the past 24 hours, ensuring that day traders have access to premium liquidity levels. We also like that OKX offers one of the best crypto wallets. This is a decentralized wallet available on desktops, mobiles, and browsers.

4. MEXC — Great Day Trading Platform for High Leverage 

As one of the best crypto trading leverage platforms, day traders will also like MEXC. This tier-one exchange offers leverage of up to 200x. This means a $1,000 account balance offers $200,000 in trading capital. MEXC offers leverage via perpetual futures. This means you can go long or short on your chosen markets.

More than 1,700 coins are listed on MEXC, ranging from Bitcoin, Bonk, Shiba Inu, and Uniswap to Ethereum, Cardano, Solana, and Arbitrum. Trading perpetual futures will cost you just 0.01% per slide. MEXC removes the commission completely when trading the spot markets. This makes MEXC a great option for scalpers, as market spreads are also competitive.

MEXC is considered a safe day trading platform. It offers two-factor authentication (2FA), cold storage, whitelisting, withdrawal blocks, and SMS verification. MEXC also has verified proof of reserves and high liquidity.

5. eToro — Best for Day Trading Beginners

eToro is the best crypto exchange for day trading beginners. It’s an established broker that was launched in 2007. It has approval from multiple regulatory bodies in the US, Europe, Australia, and more. Safety is assured with eToro keeping client funds in segregated accounts. eToro offers a wide range of crypto day trading markets.

More than 80 coins can be traded against USD, including Bitcoin, Uniswap, Decentraland, BNB, XRP, Cardano, and Solana. Some coins can be traded against other currencies, including EUR and JPY. You can also trade crypto-cross pairs like ETH/BTC. The minimum trade size is just $10. Eligible clients can also trade crypto via contracts-for-differences (CFDs).

Not only do eToro CFDs allow 2x leverage, but also short-selling tools. eToro offers plenty of analysis features, including market news, sentiment bars, real-time pricing, technical indicators, and drawing tools. eToro also supports crypto copy trading, so you can mimic the positions of an experienced day trader. eToro charges a 1% trading commission on crypto, which is expensive.

6. Bybit — Popular Exchange for Day Trading Futures and Options   

The best crypto exchange for day trading derivatives is Bybit. This platform offers a huge selection of leveraged markets, including perpetual and delivery futures. These come with maximum leverage limits of 125x. As such, you can amplify a $100 account balance to $12,500. Bybit also supports leveraged options with competitive strike prices and premiums.

Bybit is also suitable for trading spot markets. All trading products come with advanced charts and analysis tools. Not to mention in-depth order books. We also like that Bybit supports hundreds of cryptocurrencies. These range from micro-cap crypto to large-caps and everything in between. While Bybit is ideal for depositing crypto, it also accepts fiat money.

First-time traders can instantly buy cryptocurrencies with a debit/credit card. More than 65 fiat currencies are accepted. Deposits can also be made on a peer-to-peer basis. Bybit is also renowned for offering great customer support. Live chat is available 24/7 and waiting times are usually swift.

7. KuCoin — Top-Rated Platform for New Cryptocurrency Listings

We found that KuCoin is one of the best options for day trading new cryptocurrencies. The KuCoin Spotlight is a launchpad for innovative projects. After raising funds, these cryptocurrencies trade on the main KuCoin exchange. What’s more, KuCoin frequently lists new cryptocurrencies from other launchpads.

It also runs day trading competitions on newly listed coins. This increases exposure for new projects and helps KuCoin increase trading volumes. KuCoin is also a great option for trading established cryptocurrencies like Bitcoin and Ethereum. More than $2.5 billion in trading volume was recorded in the past 24 hours.

When it comes to day trading fees, KuCoin has a standard commission of 0.1% per slide. This can be reduced when paying fees in KCS, KuCoin’s native token. Hitting 30-day trading milestones also reduces the commission rate. KuCoin also offers perpetual and inverse futures with leverage of up to 100x. These can be traded from 0.06% per slide.

8. Kraken — User-Friendly Exchange With a $10 Minimum Deposit

A great option for beginners is Kraken. It offers a safe and user-friendly trading dashboard that supports over 200 cryptocurrencies. This includes some of the best altcoins, such as Kava, Algorand, Polkadot, Solana, and TRON. The minimum first-time deposit on Kraken is $10. Accepted payment types include ACH, SEPA, and debit/credit cards.

While Kraken is ideal for novice day traders, it’s also suitable for professionals. Kraken Pro is an advanced charting dashboard that comes packed with features. This includes indicators like MACD and Moving Averages. Kraken Pro also supports crypto futures with 50x leverage. Alternatively, you can also open a margin account with 5x leverage.

Kraken charges 0% to 0.4% per slide when spot trading cryptocurrencies. This is reduced incrementally as you meet monthly trading milestones. Futures trading fees are even more competitive; you’ll never pay more than 0.02% per slide. Kraken is regulated in multiple markets and offers robust security tools. It was founded in 2011, making it one of the oldest exchanges.

9. PrimeXBT — Best Option for Day Trading Multiple Financial Markets 

Next is PrimeXBT, which is one of the best options for diversification. In the digital asset space, it lists some of the best cryptocurrencies to trade. This includes Bitcoin, Litecoin, BNB, Stellar, Dogecoin, Chainlink, and Solana.

Cryptocurrencies can be traded via perpetual futures. This means traders can go long or short. Moreover, PrimeXBT offers leverage of up to 200x. In addition to cryptocurrencies, PrimeXBT also supports major and minor forex pairs.

Other markets include commodities and indices. We also like that PrimeXBT offers competitive trading fees. Crypto trading commissions are 0.05% (spot) and 0.02% (futures) per slide. Forex, commodities, and indices can be traded on a spread-only basis. Do note that due to licensing restrictions, PrimeXBT isn’t available in the US.

10. Margex — Privacy-Focused Platform With 100x Leverage 

Crypto day traders who want to avoid the KYC process might consider Margex. This privacy-focused trading platform doesn’t collect personal information. This means you can day trade the crypto markets anonymously. Opening an account simply requires an email address and a password.

First-time clients receive a bonus of up to $100, which can be used against trading commissions. Fees are competitive at Margex, with trades costing 0.019% to 0.2%. Do note that Margex doesn’t offer spot trading markets right now. Instead, it specializes in perpetual futures, standing out among no-KYC crypto exchanges.

Leverage of up to 100x is available, and both long and short orders are supported. Some of the futures markets available on Margex include Bitcoin, Dogecoin, Arbitrum, SushiSwap, Shiba Inu, Ethereum, and XRP. Margex offers a day trading app for iOS and Android. Alternatively, you can trade on a desktop device via the Margex website.

How We Ranked The Best Crypto Exchanges for Day Trading

To rate the best crypto exchanges for day trading, we assessed eight key factors, scoring them on a scale of 1-10. We then weighed the categories to calculate an overall score for each crypto day trading exchange. Finally, we tallied the final scores to rank them.

Lowest Trading Fees (25%)

While low fees are important for all investment strategies, they’re imperative when day trading crypto. After all, day traders target much smaller margins, especially when positions remain open for several minutes. This means that unfavorable fees can make day trading unviable.

On average, we found that exchanges charge 0.1% per slide. MEXC takes things to the next level, as spot trading commissions have been removed. In addition, we explored the average market spread for each exchange. This is the difference between the buy and sell price. Tight spreads are crucial to keep overall trading fees to a minimum.

Fastest Order Execution (25%)

Another important metric for day traders is fast execution times. This is especially the case in the crypto trading space, where prices are extremely volatile. If execution speeds are slow, slippage can occur. Slippage is when traders get a different price to what they expected when placing an order.

• For example, suppose you’re day trading Ethereum.
• You place a buy order when Ethereum is priced at $4,000.
• However, your order is executed at $4,100.
• This means you’ve suffered slippage of 2.5%.

Most crypto day trading sites display their average order execution speed; this should be in the milliseconds. However, what exchanges publish isn’t always the reality. Therefore, we tested average speeds ourselves.

Highest Trading Volume and Liquidity (25%)

High trading volumes are another non-negotiable metric when day trading crypto. Insufficient trading volume results in low liquidity levels.

In turn, this means unfavorable market conditions and difficulty in buying ir selling a crypto pair at a suitable price. Low liquidity also means an inadequate order book. This can result in significant slippage.

Fortunately, all of the platforms listed on this page offer huge trading volumes. For example, MEXC processed almost $2 billion worth of orders in the prior day. This includes more than $570 million in BTC/USDT positions.

Most Trading Pairs (15%)

Seasoned day traders like to have access to a wide range of markets. This ensures that there are sufficient trading opportunities throughout the day. Therefore, we prioritized platforms that support many crypto pairs.

At a minimum, this should include large caps like Bitcoin, Ethereum, and XRP. We also like to see up-and-coming cryptocurrencies that are new to the market. These offer day traders higher profit potential.

Widest Global Availability (10%)

We also prioritized crypto day trading platforms that operate globally. This ensures traders from most countries have access to a platform.

For example, many crypto platforms do not allow US traders. This includes MEXC, OKX, PrimeXBT, and Bybit. US traders are welcomed by eToro, Coinbase, and Kraken.

Conclusion

Crypto day trading can be lucrative, but make sure you’re well-versed in risk management and technical analysis. If you’re a complete beginner, consider getting started with eToro.

Used by over 30 million traders, eToro supports more than 100 crypto trading markets. eToro also allows you to ‘copy’ seasoned day traders, meaning you won’t need any prior experience.

FAQs

What crypto platform is best for day trading?

The best crypto day trading exchange is Binance. With low fees, high liquidity, extensive cryptocurrency listings, leveraged trading, integrated charting tools, and broad accessibility, it caters to all trader needs.

Can you day trade on Coinbase?

Yes, day trading is possible on Coinbase through its trading platform Coinbase Advanced, offering features like spot trading, limit orders, and market orders.

What is the best crypto exchange for day trading in the US?

Binance.US is the best crypto exchange for day trading in the US. It offers a wide range of cryptocurrencies, low fees, and advanced trading features like leveraged trading and integrated charting tools, catering to active traders’ needs.

What is the best app to day trade crypto?

Binance is the best app to day trade crypto due to its extensive range of trading pairs, low fees, high liquidity, and advanced trading features like margin trading and futures contracts, providing traders with ample opportunities and tools for successful day trading.

Is crypto day trading profitable?

Only a small percentage of crypto day traders make money. To give yourself the best chance possible, learn technical analysis, risk management, and best practices for volatile markets.

Does Binance offer crypto day trading software?

Yes, Binance offers desktop software for Windows, Mac, and Linux, providing traders with a seamless user experience when day trading crypto.

References

1. CASS 7.13 Segregation of client money (FCA)
2. New Binance chief refuses to disclose global headquarters’ location (Financial Times)
3. Cryptocurrency futures and options (CME Group)
4. Corporate – Income determination (PwC)

About the Author

Kane Pepi

Kane Pepi is a financial, gambling and cryptocurrency writer with over 2,000 published works, including on platforms like InsideBitcoins and Motley Fool. He specializes in cryptocurrency guides, exchange and wallet reviews, and covers new crypto projects for Cryptonews.com. His expertise includes asset valuation, portfolio management, and financial crime prevention. Pepi holds a Bachelor's in Finance, a Master’s in Financial Crime, and is pursuing a Doctorate in money laundering in crypto and blockchain. Connect with Kane on LinkedIn.

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