Best Exchanges for Automated Cryptocurrency Trading

It is important to have trust in any exchange/company that is acting as a custodian to your funds so please do your own due diligence regarding this. Due to the nature of cryptocurrencies, most exchanges operate in an unregulated grey area.
That being said, I have made a short list of what I consider the best cryptocurrency exchanges for quantitative and automated trading. All 5 of these exchanges offer something unique.

BitMex Trading Screen

BitMex is a popular exchange with great liquidity in their futures and swaps products.
Perpetual swaps are similar to futures although they have no expiration date and they trade closer to the underlying asset price unlike dated futures which can diverge in price more.
Plenty of leverage available (up to 100x)!
Great API Documentation HERE

Sign up HERE

Binance Trading Screen

CEO, Changpeng “CZ” Zhao is very active on Twitter.
Binance offer 4 easy ways to buy bitcoin on their site, including with a credit card).
Nearly 200 digital tokens available to trade.
Binnacle is the largest by trade volume and the standard trading fees are some of the lowest at 0.01% starting.
Binance is constantly updating and developing and have their own digital token and even associated decentralized exchange, Binance DEX (a decentralized order matching engine).

Sign up HERE

CoinFlex Trading Screen

Coinflex offers 20x leverage on physically delivered futures. All futures are physically settled, longs receive XBT(or other digital token), shorts receive USDT at expiry.
The exchange for high frequency traders as API can take 200 calls per second.
CoinFlex seem to take security seriously, with 99% of user’s funds kept in cold storage and multiple 2FA methods (Google Auth, Yubikey and Authy).
Flat Maker/Taker fee of 0.03%, however, with the Designated Market Maker Program (DMM) fees are 0% as a maker and 0.01% as a taker.
CoinFlex’s API documentation is all on their GitHub page HERE.

Sign up HERE

Deribit Trading Screen

Deribit is a combination of the words ‘Derivatives’ & ‘Bitcoin’ and as such they offer futures and European style options (ie. derivatives). Cryptocurrency options is still a very undeveloped market, Deribit seem to have the best of what market there is. Options trading volume regularly breaching $100M per day.
Interesting Maker/Taker fee structure where Maker gets a rebate for being a liquidity provider.
Up to 100X leverage.
Testnet (paper trading available) HERE
95% of user’s funds in cold storage.

Sign up HERE


FTX Trading Screen

FTX are more geared up to offer derivatives over spot trading. They offer perpetual future contracts, futures, options, MOVE contracts, spot and leveraged tokens.
FTX is friendly towards automated trading and even have a Quant Zone on their site making building operations easier there.
Maker/Taker fees of 0.02% / 0.07%
No recorded hacks, so far, although they have only been live since 2019.
FTX has great API docs HERE.

Sign up HERE