margin trading exchanges

[Antonioz]

hello there, I have used mostly poloniex for trading for a long time, I was now testing binance margin trading, I noticed thought the the borrowing interest of binance is insane, like 0.1% DAILY? poloniex is amazing but the problem is they don't really offer many altcoins for margin trading anymore, they keep removing them from the margin account. Also, even if poloniex interface is easy and transparent, i find binance very complicated. For example in poloniex you can easily see your current open positions, current profit / loss, current interest etc... and you can close the position with a button if you want to. I am wondering if someone can recommend an exchange which offer margin trading as easy as poloniex but with more altcoins to trade? binance offers many, but it's too complicated and the interest rate seems really unreasonable. Thanks!

[hd49728]

Poloniex lost their top-notch position among crypto exchanges to Bittrex and then Binance. You are right that Binance has one of the best trading fees for spot or margin tradings.

They also have many promotions and lottery events for their users. They have a Binance Academy

It is the guide for Margin tradings on Binance Binance Margin Trading Guide and you can find many other documents for your trading life from the academy.

You have to spend time to get familiar with a new platform you are using and then all things will be fine.

[mk4]

Bybit[1] and FTX[2] seems to be the two most-used margin trading exchanges of crypto traders on Twitters since last year. While I don't have any opinions on both since I don't really do margin trading, I suggest checking them out. Dyor.

[1] https://www.bybit.com/
[2] https://ftx.com/

[Antonioz]

You are right that Binance has one of the best trading fees for spot or margin tradings.

i meant binance has horrible interest rates, if I borrow USDT for margin trading the fees are 0.1% daily, that means 36% annual interest fee, absolutely insane.

[aemma]

I believe Poloniex was once a reputed exchange but nowadays I don't know much about what's happening there nor is much even heard about them where the likes of Binance, Huobi etc is already leading. Also, another reason why Binance is leading is that, the exchange tends to support a lot of trading types, features and activities in order to give traders the experience they want. In the case of Margin trading, although you might not really fancy that of Binance, but I still think it is worth taking time to study and using afterwards. Nevertheless, other exchanges with margin trading or other margin trading exchanges are Kucoin and bybit, you can give them a trial to see if they will meet your expectations.

[jrrsparkles]

If you are worried about the interest rate of Binance margin trading then just go for Bybit which offers from 0.075% but when you are asking for more trading pairs then binance is the only option for you.

Normally I don't suggest anyone to practice margin trading because it is not going t be profitable in short term so start trading with the money you got and make profits then reinvest back and keep doing it.

[IkonaDro4ku]

I trade at FTX and there are enough couples but not as much as on binance. Binance is easy enough to trade if you trade futures. If you decide to trade futures, I recommend that you do not put a large leverage.