HashKey VS Mitrade: Spot and Futures Trading of Cryptocurrencies

HashKey: Cryptocurrency Spot Trading

Yesterday (August 28th), HashKey Exchange officially launched its deposit, withdrawal, and trading services. HashKey Exchange is the first licensed cryptocurrency exchange in Hong Kong targeting retail users (individual investors).

It has obtained approval from the Securities and Futures Commission of Hong Kong (SFC) and holds Type 1 and Type 7 licenses, allowing it to provide securities trading and automated trading services.

On the HashKey Exchange platform, retail investors can currently trade products such as BTC, ETH, and stablecoins (USDT, USDC). Professional investors (PI) with a portfolio value of no less than 8 million Hong Kong dollars can also trade MATIC and AVAX (coming soon) in addition to the aforementioned cryptocurrencies.

Product offerings on the HashKey cryptocurrency exchange, Source: HashKey official website.

It can be observed that HashKey Exchange supports a limited number of cryptocurrencies (only five) and is limited to spot trading. Therefore, investors cannot trade other cryptocurrencies on this platform, nor does it support leveraged trading.

Mitrade: Cryptocurrency Contracts

If you value compliance and want to trade a wider range of cryptocurrencies and engage in contract trading, Mitrade is an option.

Mitrade is a diversified trading platform authorized and regulated by authoritative institutions. It has obtained multiple financial service licenses, including authorization and oversight from the Cayman Islands Monetary Authority (CIMA) with SIB License No. 1612446, an Australian Financial Services License (AFSL 398528) issued by the Australian Securities and Investments Commission (ASIC), and authorization and regulation from the Financial Services Commission of Mauritius (FSC) with license number GB20025791, among others.

In addition to BTC, ETH, AVAX, and MATIC, Mitrade also supports over 30 cryptocurrency contracts, including ADA, ALGO, APE, AVAE, ATOM, AVAX, AXS, BCH, COMP, CRV, DOGE, DOT, DYDX, ENJ, ENS, EOS, ETC, FIL, LTC, LINK, MATIC, MKR, NEAR, SAND, TRX, UNI, XLM, XRP, and more.

Cryptocurrency product offerings on the Mitrade platform, Source: Mitrade.

Typically, Mitrade's cryptocurrency contracts offer leverage ratios ranging from 1 to 10X, allowing both long and short positions. Overnight fees are 0.02% (buy) and 0.05% (sell), usually charged at 5:00 am. 

Currently, new registrants can receive a $100 bonus and access to $50,000 in simulated trading funds.

BTC contract information on the Mitrade platform, Source: Mitrade.