Cryptocurrency trading has taken the financial world by storm, offering opportunities for profit that are both thrilling and potentially lucrative. For short-term traders, the right platform can make all the difference between seizing a profitable opportunity and missing out.
In this blog post, we dive into the six best short-term crypto trading platforms that cater to both novice and seasoned traders. Whether you’re looking for low fees, advanced charting tools, or the fastest execution times, we’ve got you covered.
But with so many options out there, how do you choose the one that fits your trading style perfectly? Stay tuned as we reveal which platforms are worth your time and why one of them might just be the hidden gem you’ve been searching for. Let’s jump into short-term crypto trading and find out which platform will help you maximize your gains and minimize your risks. Ready to uncover the secrets? Let’s get started!
List of our top picks
- BYDFi – Best overall, Available in the USA without VPN, no KYC, lowest fees (0.02%), perpetual futures trading, 200x leverage, stop-loss, trailing stop, short-selling, Regulated by FinCEN, excellent support team, quick registration, and fiat on-ramp.
- Phemex – Best for mobile, KYC-free, accepts US traders with VPN, 100x leverage, futures contracts, stop-loss, trading bots, risk-free demo account, buy crypto with fiat, and VIP programme.
- MEXC – Best for low maker fees (0%), KYC-free, available in the USA with VPN, 200x leverage, daily futures rewards, copy day trading, demo trading, and competitions.
- BTCC – Best for high leverage (225x), No KYC, available in the USA without VPN, deposit crypto or fiat, good educational hub, fast online support, and advanced tools.
- PrimeXBT – Best for Bitcoin trading, Tradingview charts, multi-exchange with other assets, good track record, CFD trading, copy trade, economic calendar, and contests.
- Binance – Biggest exchange by volume, most altcoin pairs (600+), advanced trading tools for scalpers, futures contracts, short-term options, margin trading, and mobile app.
What is the best short-term crypto trading platform?
Before diving into the reviews of each platform, it’s important to understand how we evaluated them. Our team of crypto experts carefully analyzed a range of data points to provide you with the most accurate and helpful information.
Here’s what we looked at:
- User Interface and Experience: How easy and intuitive each platform is to use.
- Fees and Costs: Comparison of trading, withdrawal, and deposit fees.
- Security Features: Security measures like two-factor authentication (2FA) and encryption.
- Trading Tools and Features: Availability of advanced tools like charting and real-time data.
- Liquidity and Volume: Ensuring high liquidity for quick and efficient trading.
- Customer Support: Responsiveness and helpfulness of the support teams.
- Reputation and Reviews: Overall reputation and user feedback.
- Innovation and Technology: Use of AI, blockchain, and trade execution speed.
- Educational Resources: Availability of tutorials, webinars, and community forums.
- Community and Social Features: Social trading, user forums, and interaction with successful traders.
By analyzing these comprehensive data points, we aim to give you a thorough overview of each platform’s strengths and weaknesses. Now, let’s dive into the detailed reviews of the top six short-term crypto trading platforms!
1. BYDFi – Best overall (highest rating)
BYDFi, which used to be called BitYard, has been getting a lot of attention since it launched in 2020. It’s super user-friendly, making it great for both newbies and seasoned traders who are looking to day trade crypto. But what exactly makes BYDFi special, and is it worth using? Let’s break down the features, pros, and cons of BYDFi to help you figure that out.
Main Features of BYDFi
BYDFi is famous for its simple and easy-to-use interface, perfect for beginners. It offers three main tiers for spot trading: Classical, Advanced, and Convert. The Classical tier is for quick buying and selling, the Advanced tier offers detailed trading tools, and the Convert tier lets you easily swap crypto for USDT.
Perpetual Contracts
For more experienced traders, BYDFi offers perpetual contracts with up to 200x leverage. This means you can hold positions as long as you want without worrying about them expiring. But be careful with high leverage—it can lead to big losses if you’re not careful.
Leveraged Tokens
BYDFi also has leveraged tokens, which let you buy large amounts and benefit from small price changes. These tokens have built-in leverage, making it easier to trade without manually setting up leverage.
Security
Security is a big deal at BYDFi. The platform uses two-factor authentication (2FA), email binding, and anti-phishing codes to keep your account safe. They also follow strict KYC (Know Your Customer) and AML (Anti-Money Laundering) standards to prevent fraud.
Customer Support
BYDFi offers great customer support with 24/7 live chat, email support, and a detailed FAQ section. They’re also active on social media and have Telegram groups for community help.
Pros:
- User-Friendly Interface: Super easy to use, great for beginners.
- Extensive Trading Options: Supports spot trading, perpetual contracts, and leveraged tokens.
- Copy Trading: Lets beginners follow and learn from experienced traders.
- Strong Security Measures: Includes 2FA, email binding, and anti-phishing codes.
- Responsive Customer Support: 24/7 live chat and email support.
Cons:
- Limited Educational Resources: Not a lot of learning materials for newbies.
- No Staking Options: Doesn’t offer staking or other ways to earn passive income.
- Liquidity Issues: Some less common trading pairs might not have much liquidity.
- Moderate Trust Score: No proof-of-reserves declared, which could worry some users.
Overall, BYDFi is a great pick for short-term traders looking for a simple and secure platform. Currently they offer a great crypto sign up bonus and promotion for new users with up to 2888USDT in rewards.Its user-friendly design,and the variety of trading options make it an attractive choice, especially for those just starting out in the crypto world.
2. Phemex – Best for mobile users
If you’re a short-term crypto trader looking for a fast crypto trading platform that can keep up with your fast-paced trading style, you need to check out Phemex. Since launching in 2019, Phemex has become a top choice for traders who want reliability, speed, and cutting-edge features.
Whether you’re a seasoned pro or just getting started, Phemex has the tools you need to succeed. Let’s dive into why Phemex is perfect for short-term trading!
Main features of Phemex
Phemex isn’t your average trading platform. Founded in Singapore by a team of former Morgan Stanley execs and experienced Bitcoin traders, this exchange has quickly built a strong reputation. Despite being relatively new, Phemex has made significant strides in offering a robust and secure trading environment.
Fee Structure
Phemex charges a flat 0.10% fee for spot trading, which is waived for premium members. Contract trading fees are 0.06% for buyers and 0.01% for sellers which means it is one of the cheapest crypto exchanges. There are no withdrawal fees, just network fees, which are standard in the industry.
Why Phemex is Perfect for Short-Term Trading
Phemex aims to be fast, user-friendly, and comprehensive—everything a short-term trader needs. Here are some of the standout features that make it ideal for quick trades.
Lightning-Fast Trading: Phemex is designed for speed. You can trade over 50 cryptocurrencies with lightning-fast execution times, which is crucial for capitalizing on market movements.
Sub accounts for Better Management: Create and manage multiple sub accounts to organize your trades and strategies better. This feature allows you to separate different trading strategies and manage risk more effectively.
Prediction Market: Bet on real-world events and profit if you’re right. This unique feature can provide additional trading opportunities and diversify your strategies.
Demo Trading: Practice makes perfect! Use the demo trading feature to refine your strategies without risking real money.
Copy Trading: Learn from the pros by copying their trades. This is a fantastic way to see successful strategies in action and adopt them quickly.
Sign-up Bonuses: Earn up to $100 in bonuses for various actions like verifying your identity and making your first deposit.
Competition Mode: Add excitement to your trading with team-based competitions. Compete, win, and boost your earnings while having fun.
Pros:
- Fair Fees: Phemex’s transparent fee structure ensures no hidden costs, maximizing your profits.
- Leverage trading: Phemex offers up to 100x leverage in their perpetual futures market.
- Top-Notch Security: Features like cold storage and two-factor authentication keep your assets safe.
- Collaborative Learning: Educational resources and a supportive community to help you stay ahead of the curve.
- Flexibility: Manage multiple cryptocurrencies and subaccounts with ease, essential for diversified short-term strategies.
- Excellent Customer Support: Responsive support, including direct access to the CEO on Telegram, ensures your issues are quickly resolved.
Cons:
- Limited Altcoin Selection: Fewer altcoin options compared to some other platforms might limit your trading opportunities.
- Limited Fiat Support: Fewer fiat-to-crypto trading pairs can make it harder to move money in and out of the platform quickly.
- Needs More Tutorials: The platform could benefit from more comprehensive guides and tutorials for new users.
User Experience
Phemex’s interface is intuitive and easy to navigate, with customizable features that make trading a breeze. The integration with TradingView is a huge plus, allowing traders to analyze and execute trades seamlessly. The platform supports multiple languages and offers a demo account for practice, making it accessible to users worldwide.
3. MEXC – Best for 1-second chart
The crypto industry is full of exchanges, each with its own perks and downsides. While many stick to top-rated exchanges like Binance and Coinbase, MEXC Global is a hidden gem that offers a ton of features and tools with one standing out in particular, the 1-second chart where you can trade on the smallest time-frame out of all exchanges. Let’s dive into why MEXC might be the best choice for short-term traders.
Why MEXC Stands Out
MEXC Global is gaining popularity with a growing user base. It offers a variety of trading options, making it a great choice for people who like to try different trading methods. But is it really that good for short-term trading? Here’s a closer look at what MEXC offers and what it’s missing.
Top Features for Short-Term Traders
MEXC supports both spot and futures trading. Spot trading is when you buy a cryptocurrency and get it right away. Futures trading involves buying and selling contracts that promise to buy or sell the asset at a set price in the future.
MEXC’s trading dashboards are loaded with features and integrated with TradingView for advanced charting (including the 1-second chart) and analysis, perfect for short-term traders.
MEXC offers a demo trading tool for futures, letting you practice trading with virtual funds. This is awesome for beginners who want to learn the ropes without risking real money.
Copy-Trading: MEXC’s copy-trading feature allows you to mimic the trades of experienced traders. This is a fantastic way to learn and potentially profit by following successful traders. You can see detailed stats and performance metrics for each trader, so you know who to trust.
MEXC offers leveraged ETFs, which let you trade with a multiplier effect, magnifying your profits (or losses). This is available for various cryptocurrencies, including Bitcoin and Ethereum, making it a powerful tool for short-term traders.
Low Fees: One of MEXC’s best features is its low fees. For spot trading, both maker and taker fees are 0%. For futures, maker fees are 0%, and taker fees are 0.01%. Leveraged ETF fees are 0.2% for both makers and takers. Low fees mean more profit stays in your pocket.
Global Availability: MEXC is available in over 170 countries, including the US, UK, India, Canada, and South Korea. This wide reach ensures you have access to a large liquidity pool and that the platform follows various regulatory standards.
Pros:
- Supports spot and futures trading
- Futures demo trading portal
- Copy-trading tools
- Leveraged ETF listings
- Very low fees
- Available globally
Cons:
- Limited fiat withdrawals
- No NFT support
4. BTCC – Best for high leverage
If you’re looking to make quick profits, BTCC is one of the best platforms to consider. Established way back in 2011 in Shanghai, BTCC is one of the oldest and most trusted crypto exchanges globally. It used to be one of the big three Chinese crypto exchanges, along with Huobi and OKCoin.
In 2018, BTCC expanded globally and is now headquartered in the United Kingdom. It’s widely praised for its reliability, security, and high liquidity, which are all essential for successful short-term trading.
Futures Trading
BTCC specializes in futures trading, which is perfect for short-term traders looking to capitalize on market movements. You can trade two types of crypto futures: USDT-margined futures, settled in USDT, and Coin-margined futures, settled in cryptocurrencies.
The platform offers perpetual futures trading on more than 60 trending coins like BTC, ETH, DOGE, XRP, and SOL. This variety ensures you always have exciting trading opportunities.
Tokenized Futures
In 2022, BTCC added commodity and stock tokenized futures to its offerings. This means you can diversify your trading portfolio beyond just cryptocurrencies, all within the same platform. These tokenized futures are also settled in USDT, making it easier to manage your trades and profits.
Trading Fees
BTCC charges a flat fee of 0.06% for both takers and makers, which is way below the industry average. Lower fees mean more profits for you, which is a big deal for short-term traders who make frequent trades. You can also get discounts by upgrading your VIP level.
Deposit Methods and US Investors
BTCC allows deposits through credit cards (Visa/Mastercard) and cryptocurrencies. This flexibility is great for new and experienced traders alike. While BTCC does not explicitly forbid US investors, they should check if there are any legal issues due to their residency.
Demo Trading
BTCC offers a demo trading account with 100,000 USDT in virtual funds for practice. This is awesome for beginners to get a feel for trading without risking real money.
Pros:
- Low trading fees, maximizing your profits
- High liquidity and strong security features
- Extensive range of futures trading options
- Tokenized futures for portfolio diversification
- Demo trading account to practice without risk
- Multiple deposit methods, including credit cards
Cons:
- US investors need to do their own legal checks
- Trading view might take some getting used to for beginners
5. PrimeXBT – Best for Bitcoin trading
PrimeXBT is a top short-term crypto CFD exchange that’s really popular among traders. It lets you trade a bunch of different assets, including cryptocurrencies, stocks, forex, commodities, and indices, all as contracts for difference (CFDs). If you’re looking for a fresh alternative to the usual crypto trading platforms, PrimeXBT’s crypto margin trading feature is a game-changer.
PrimeXBT is all about leveraged trading. You can get up to 200x leverage on crypto pairs and up to 1,000x on some forex and commodity pairs. This high leverage can seriously boost your profits if you’re a short-term trader looking to make quick gains. But remember, trading with margin/leverage can be risky, especially since the crypto market is already pretty volatile.
One of the best things about PrimeXBT is its liquidity. The platform pulls liquidity from over 12 different exchanges, so you’ll always have plenty available for trading. No need to worry about not being able to execute trades due to low liquidity.
PrimeXBT Features
- High Leverage: Up to 200x on crypto pairs and up to 1,000x on some forex pairs.
- Wide Range of Assets: Trade cryptocurrencies, forex, commodities, indices, and more.
- Pooled Liquidity: Aggregates liquidity from over 12 exchanges.
- Strong Security Measures: Extensive cybersecurity practices, including cold storage and multi-signature wallets.
- Anonymous Trading: No KYC requirements for most users.
- User-Friendly Platform: Customizable interface with advanced charting tools.
- Mobile App: Trade on the go with the PrimeXBT mobile app.
Pros:
- High Leverage: Amplify profits quickly with high leverage.
- Variety of Assets: Access to diverse trading markets.
- Strong Security: Extensive security measures to protect user funds.
- User-Friendly Interface: Customizable trading platform with advanced tools.
- No KYC Required: Allows for anonymous trading, great for privacy-conscious traders.
Cons:
- High Risk with Leverage: Can lead to significant losses, especially in volatile markets.
- Unregulated: PrimeXBT isn’t regulated, which might concern some traders.
- No Fiat Withdrawals: Currently, no option to withdraw funds in fiat currency.
- Limited Customer Support Channels: No dedicated phone support, which might be inconvenient for some users.
PrimeXBT Security
Security is super important, and PrimeXBT takes it seriously. Most funds are stored in cold storage, safe from hackers. Only a small amount is kept in hot wallets for daily transactions, protected by multi-signature access to reduce risk. They also use Cloudflare to protect against DDoS attacks and run regular security tests and updates.
PrimeXBT uses full SSL encryption for all communication, so your data is safe. They also use the bcrypt algorithm to store passwords securely, and two-factor authentication (2FA) is available for added account security.
For withdrawals, PrimeXBT requires mandatory white-labelling of Bitcoin addresses, ensuring funds can only be sent to pre-approved addresses.
PrimeXBT is a solid choice for experienced short-term traders looking to maximize their returns. The high leverage options and variety of tradable assets are great, and the strong security measures are a big plus. But remember, high leverage means higher risk, and the lack of regulation might be a concern for some.
6. Binance – Best for most markets
Looking for the best platform to maximize your short-term crypto trades? Binance might just be what you need. As one of the most popular cryptocurrency exchanges globally, Binance offers a range of features perfect for quick and frequent trading. But before you jump in, let’s dive into why Binance stands out and what you need to watch out for.
When it comes to short-term trading, fees and options matter a lot. Binance excels in both areas:
- Low Fees: One of the biggest advantages of using Binance is its low trading fees. For traders who make lots of transactions, keeping costs down is crucial. With Binance, more of your earnings stay in your pocket.
- Wide Selection of Cryptocurrencies: Binance offers over 150 tradable cryptocurrencies for U.S. customers and even more for international users. This variety means you can always find the best opportunities for quick trades.
- Multiple Trading Options: Binance supports several types of trading, including peer-to-peer, spot, and margin trading (though margin trading isn’t available in the U.S.). It also provides a variety of order types like limit orders, market orders, and stop-limit orders, giving you flexibility in how you trade.
Pros:
- Extensive Cryptocurrency Selection: With a huge range of cryptocurrencies available, you can take advantage of various market movements.
- Low Fees: The low fees make frequent trading more profitable.
- Diverse Trading Options: The range of trading options and order types can help you execute your trading strategies more effectively.
Cons:
- Limited U.S. Version: The U.S. platform has fewer cryptocurrencies and features, which can be limiting.
- Complex Interface: The platform can be intimidating due to its many features, which might overwhelm even seasoned traders.
- No Built-In Digital Wallet: Binance recommends Trust Wallet, but it doesn’t have an integrated wallet of its own, which can complicate things.
- Regulatory Issues: Binance has faced legal challenges in several countries, which might make some traders cautious.
What to Keep in Mind
Binance’s low fees and extensive selection of cryptocurrencies make it an attractive option for short-term traders. However, its complexity and regulatory issues mean you need to be careful and stay informed. The U.S. version’s limitations can be frustrating, but the platform’s powerful tools and options make it worth considering for those who can navigate its interface.
If you’re an experienced trader looking for a platform with low fees and a wide range of cryptocurrencies, Binance could be a solid choice for your short-term trading needs. Just remember to stay updated on its regulatory status and be prepared to deal with a complex interface.
For those who can handle these challenges, Binance offers a wealth of opportunities to enhance your trading strategy and maximize your profits.
What to look for when choosing a platform?
When it comes to picking the perfect crypto trading platform as a short-term trader, there’s a lot to consider. Here are some key things you should look for to make sure you get the best experience possible:
- User-Friendly Design: The platform should be easy to navigate. You don’t want to waste time figuring out complicated menus when you could be trading. Look for a clean, simple layout that’s intuitive to use.
- Low Fees: High fees can eat into your profits quickly. Check how much the platform charges for trades, deposits, and withdrawals. The lower the fees, the more money stays in your pocket.
- Security: Safety first! Make sure the platform has strong security features like two-factor authentication (2FA), encryption, and cold storage. This helps protect your funds from hackers.
- Trading Tools: Good platforms offer tools to help you trade better. Look for things like advanced charts, real-time data, and stop-loss orders. These can help you make smarter decisions.
- Liquidity: You want a platform with high liquidity, meaning lots of people are trading on it. This makes it easier to buy or sell assets quickly without affecting the price too much.
- Customer Support: Problems happen, and when they do, you need help fast. Check if the platform has good customer support that’s easy to reach and quick to respond.
- Reputation: Do some research on what other users are saying. Look for reviews and ratings to see if the platform is trustworthy and reliable. A good reputation can save you from potential headaches.
- Innovative Features: Some platforms offer cool features like AI predictions and blockchain integration. These can give you an edge in your trading.
- Learning Resources: If you’re new to trading, it’s great if the platform offers tutorials, webinars, and forums. These resources can help you learn and improve your skills.
- Community: Look for platforms that have a strong community of traders. Features like social trading and forums can help you connect with others, share tips, and stay updated.
By keeping these factors in mind, you’ll be able to choose a crypto trading platform that suits your needs and helps you trade more effectively.
How we selected these platforms
Choosing these platforms wasn’t simple. We explored each platform’s user interface, trying out the menus and features to see how intuitive they were. Some platforms had confusing layouts, emphasizing the importance of user-friendly design.
We analyzed fees for trades, deposits, and withdrawals, uncovering hidden costs on some platforms. Security was a major focus; we checked for protections like two-factor authentication and encryption.
We tested trading tools, looking for advanced charts and real-time data. Liquidity was crucial; we traded various cryptocurrencies to ensure easy buying and selling. Customer support was also key; we contacted support teams to test their responsiveness.
We considered user reviews and industry ratings, noting red flags like frequent withdrawal issues. Finally, we looked at unique features such as AI trading bots, blockchain integration, and educational resources.
By following these steps, we ensured our list of platforms is reliable, secure, and user-friendly, with the best features for short-term crypto trading.
Is short-term trading risky?
Absolutely, short-term crypto trading can be risky. The market is notorious for wild swings, where prices can soar or crash within minutes, leading to big profits or significant losses. Imagine buying a coin expecting it to rise, only to see it drop due to unexpected news or market sentiment changes.
Short-term trading requires perfect timing and quick decisions, which can lead to emotional trading driven by fear or greed. We’ve seen traders panic sell during small dips, missing out on rebounds. It also demands constant monitoring and staying updated, which can be tiring and stressful. One of our team members missed a crucial price spike just by stepping away for a few minutes.
Technical issues like platform outages, slow execution times, or glitches can add to the risk. No platform is completely immune to these problems.
Additionally, without fully understanding tools and strategies like scalping, swing trading, and using leverage, you could amplify both gains and losses. One of our experts lost more than their initial investment using leverage due to a sudden market drop.
What is the best cryptocurrency to trade short-term?
Picking the right cryptocurrency can make a huge difference in short-term trading. Here are some top choices:
- GMT (STEPN): Known for its “move-to-earn” concept, GMT is highly volatile, offering many opportunities for quick trades.
- Polygon (MATIC): Offers scalability solutions for Ethereum, with fast transaction speeds and low fees, making it ideal for short-term trading. Significant price movements often occur with updates or partnerships.
- Filecoin (FIL): A decentralized storage network with price fluctuations based on demand and tech advancements, providing excellent short-term trading opportunities.
- VeChain (VET): Focuses on supply chain solutions with big partnerships. Frequent updates lead to predictable price spikes, great for catching profitable trades.
- FLOKI: A meme coin influenced by social media trends and celebrity endorsements. Its speculative nature means prices can skyrocket quickly, offering chances for quick gains.
- Chiliz (CHZ): Powers Socios.com, allowing sports fan engagement through fan tokens. Prices surge during major sports events or new team integrations, providing predictable trading opportunities.
These cryptocurrencies are perfect for short-term trading due to their volatility and quick price movements. Stay updated on news and market trends to capitalize on these fluctuations and make profitable trades. The key is to keep a close eye on the market and act fast!
Final words
Are you ready to boost your short-term crypto trading? Choosing the right platform is your first step to success. In the fast-moving markets of cryptocurrency, the right tools can help you find good opportunities and manage risks better.
Whether you’re new to trading or have lots of experience, there’s a platform for you. BYDFi is great for beginners with its simple design and many trading options. Phemex is perfect for mobile traders who need fast and reliable service.
MEXC’s 1-second chart is ideal for those who want to trade quickly, while BTCC offers high leverage for bigger returns. PrimeXBT has a variety of assets for those looking to diversify, and Binance is a favorite for its many market options and low fees.
Short-term trading can be risky, but the rewards can be worth it. By picking the right platform and keeping up with market trends, you can improve your strategy and increase your profits. Check out these platforms, see which one fits your style, and start your trading journey with confidence.