As a retail client in Germany, you can trade crypto futures legally on six large exchanges that hold an EU licence as an investment firm or trading venue: Kraken, Coinbase, OKX, Gemini, Robinhood and One Trading. All six cap retail leverage on Bitcoin at 10x. The differences lie in contract design, fees, the currency in which you post collateral and the regulator responsible for your money. This comparison reflects the position as of November 4, 2026.

A crypto future is a derivatives contract on the price of a cryptocurrency: you use leverage to bet on rising or falling prices without buying the coins themselves. The most common form is the perpetual future, or perp, a future with no expiry date that a regular balancing payment keeps…