As the cryptocurrency sector continues to mature, the demand for trusted, secure, and user-friendly trading platforms has also intensified. For many, Bybit was once a go-to platform globally, widely praised for its advanced trading tools, deep liquidity, and strong user experience. However, due to regulatory constraints and compliance requirements imposed by the UK’s Financial Conduct Authority (FCA), Bybit has ceased operations within the region, leaving a noticeable gap for traders and crypto-curious individuals who had either relied on the platform previously or intended to start trading with it.
This article outlines seven of the best platforms available in the UK that serve as practical, feature-rich substitutes for Bybit. Each platform listed is legally accessible to UK users, offers a range of useful tools for both casual and experienced traders, and meets key criteria such as compliance, ease of use, and security. These options present some of the strongest alternatives available in today’s UK market.
Why is Bybit Banned in the UK?
Bybit is no longer available to users in the United Kingdom primarily due to regulatory restrictions imposed by the Financial Conduct Authority (FCA), the UK’s financial regulatory body. In January 2021, the FCA banned the sale and marketing of crypto derivatives and exchange-traded notes (ETNs) to retail consumers. These products, which include futures, options, and leveraged tokens, are considered too complex and risky for the average retail investor. Bybit, known for offering high-leverage trading and various derivative products, fell directly under the scope of this restriction. In addition to the derivatives ban, the FCA has also increased its scrutiny of crypto exchanges in general. Many platforms, including Bybit, either failed to meet these standards or chose to withdraw rather than go through the registration process. In 2021, over 100 crypto firms, including prominent names like Binance and Bybit, were flagged by the FCA for operating without proper authorisation.
While Bybit remains operational in other jurisdictions, it currently blocks UK users to comply with FCA rules. For those seeking something better than Bybit in the UK, this presents an opportunity to choose a platform that aligns with local laws while still supporting a professional trading experience.
7 Best Bybit Alternatives in the UK
eToro
eToro is a multi-asset trading platform widely known for pioneering social and copy trading in the online investment space. It is fully regulated in the UK and authorised by the FCA, making it a compliant and secure option for UK users seeking a regulated crypto trading environment. The platform supports a wide range of cryptocurrencies and allows users to invest in both the underlying assets and certain derivatives through CFD (Contract for Difference) trading, where permitted. Its intuitive interface, educational tools, and copy trading features make it a practical and often better alternative to Bybit for users prioritising usability and regulatory clarity.
Pros
- Unique copy trading feature that allows users to replicate expert traders' portfolios.
- User-friendly interface suitable for beginners.
- Spot trading and CFD (derivative) trading on select crypto assets.
- Multi-asset trading, including stocks, ETFs, and commodities.
Cons:
- Limited selection of cryptocurrencies compared to more specialised exchanges.
- Withdrawal fee of $5 may deter frequent small withdrawals.
- CFD trading for crypto is not available to UK retail clients due to FCA restrictions.
Crypto trading fee: Fees start at 1% per transaction.
Minimum deposit: $50
Best For:
eToro is best known for copy trading, allowing users to mirror the strategies of successful traders, making it a suitable choice for beginners who want to learn and invest simultaneously.
OKX
OKX is a leading cryptocurrency exchange offering a diverse set of trading tools and a strong trading system. The platform has positioned itself as a competitive alternative to Bybit by offering spot, margin, and a comprehensive suite of derivative trading products, including futures, perpetual swaps, and options. While it does not currently hold direct authorisation from the FCA, it continues to serve UK traders through regulatory-friendly practices and compliance efforts in other jurisdictions. Its powerful API, Web3 integration, and staking services add further value, especially for users seeking more than just basic trading functionality.
Pros
- USDT and coin-margined futures and perpetual contracts.
- Extensive support for over 300 cryptocurrencies.
- Integrated Web3 wallet and DEX access.
- Strong liquidity and reliable order execution.
Cons
- Not directly regulated by the FCA.
- Limited fiat deposit options for UK users.
Spot Trading Fees: Maker 0.08%, Taker 0.10% (lower with higher volume or OKB token usage).
Futures/Derivatives Fees: Maker 0.02%, Taker 0.05%.
Minimum Deposit: No fixed minimum for crypto deposits; fiat deposits vary by method (£10 equivalent).
Best For
Advanced derivative trading with a wide selection of contracts and powerful tools for strategic, high-frequency, or institutional-level crypto trading.
MEXC
MEXC is a global cryptocurrency exchange known for its wide asset selection and advanced trading capabilities. The platform offers both spot and derivative trading, including perpetual futures contracts with leverage options, making it a practical and competitive alternative to Bybit. While it is not registered with the FCA, it is still accessible to UK users and maintains strong security protocols and robust liquidity. Its easy-to-navigate interface, low fees, and frequent token listings appeal to both beginners and experienced traders.
Pros
- Over 1,700 cryptocurrencies and tokens, offering unmatched market variety.
- Perpetual futures with up to 200x leverage for experienced traders.
- Low trading fees compared to most centralised exchanges.
- Launchpad and staking features for early project access and passive income.
- Quick registration and no mandatory KYC for small withdrawals.
Cons
- Not regulated by the FCA.
- Limited fiat on-ramp options for UK-based users.
Spot trading fee: 0% for makers and 0.05% for takers.
Futures trading fee: 0% makers and 0.02% takers.
Minimum deposit: No fixed minimum for crypto deposits; fiat deposit availability varies by region.
Best for:
Accessing new and emerging tokens before they list on larger exchanges.
UpHold
Uphold is a multi-asset digital trading platform offering access to cryptocurrencies, fiat currencies, precious metals, and U.S. equities, all within a single account. It operates under strong regulatory frameworks, including registration with the FCA through its European arm, Uphold Europe Limited. While it does not offer traditional high-leverage derivatives like perpetual futures, it allows users to engage in crypto trading with comprehensive and advanced tools. This flexibility, combined with real-time transparency and a fixed fee structure, makes Uphold a compelling alternative that is not only safer but also more accessible than Bybit for UK residents.
Pros:
- Multi-asset trading (crypto, fiat, metals, equities) in one wallet.
- Transparent pricing with zero hidden fees.
- Instant asset-to-asset conversion without first converting to fiat.
- Recurring buy and auto-trade features for portfolio automation
Cons:
- No access to leveraged or traditional crypto derivatives like perpetual contracts.
- Limited advanced trading tools, like order books or margin trading.
Crypto trading fees: Spread ranges from 0.8% to 1.2% for major cryptocurrencies (higher for low-liquidity assets).
Minimum deposit: £0 for bank transfers; £10 for card payments
Best for:
Multi-asset trading in one place, suitable for those who want to diversify beyond crypto without managing multiple platforms.
CoinJar
CoinJar is one of the longest-running cryptocurrency exchanges in the world with a strong and growing presence in the United Kingdom. It is a fully registered crypto asset firm under the FCA, which makes it a reliable option for UK-based users seeking a secure and compliant trading environment. While it doesn't offer the same level of advanced derivatives trading as Bybit, the platform does provide access to margin trading through perpetual contracts via CoinJar Exchange for eligible users. It supports a variety of digital assets, offers instant buys and sells, and includes innovative tools such as a crypto debit card and automated recurring buys. These features, along with its FCA compliance and user-centric design, make it a strong alternative to Bybit, especially for those prioritising ease of use and regulatory assurance.
Pros
- User-friendly mobile and desktop platforms suitable for beginners.
- CoinJar Exchange for direct crypto trading through an order book system.
- Automated trading features like recurring buys.
Cons
- Limited selection of advanced derivatives compared to Bybit.
- Fewer trading pairs than larger global exchanges.
Instant Buy/Sell Fees: 2%
Crypto to Fiat Conversion (and vice versa): 1%
CoinJar Exchange Fees: Maker fee from 0.00%, Taker fee from 0.10% (volume-based).
Minimum Deposit: £5 for UK bank transfers.
Best For:
Beginner-friendly crypto trading with full FCA compliance and seamless user experience.
Gemini
Gemini Trust is a US-based cryptocurrency exchange known for its simplified and secure trading experience, complete with advanced features such as spot trading, staking, and institutional-grade custody solutions. Although it does not currently offer traditional crypto derivatives like futures or perpetual contracts to UK users, it provides a structured and compliant trading environment that is ideal for long-term investors and cautious traders. Gemini is registered with the FCA as a cryptoasset business under the UK’s anti-money laundering regulations, making it a safer choice in a tightly regulated market.
Pros
- High-security standards, including insurance on digital assets held in hot wallets.
- Institutional-grade tools, including Gemini ActiveTrader platform for advanced trading.
Cons
- Derivatives product is not available to UK users.
- Limited selection of altcoins compared to other exchanges.
Crypto Trading Fees: ActiveTrader fee ranges between 0.00% and 0.40 for makers and takers.
Minimum Deposit: No minimum for crypto deposits.
Best For:
Secure and regulation-compliant crypto investing, offering peace of mind to users who prioritise safety, transparency, and institutional trust.
Bitstamp
Bitstamp is one of the longest-standing cryptocurrency exchanges in the world, offering spot trading across a range of major cryptocurrencies. Unlike Bybit, Bitstamp is fully registered with the FCA as a cryptoasset business, making it compliant with local anti-money laundering and financial conduct standards. While it doesn’t offer the same level of leverage or gamified trading tools as Bybit, Bitstamp stands out for its stability, long-term credibility, and strict compliance with UK regulations.
Pros
- High-security standards with institutional-grade custody (BitGo partnership).
- Intuitive platform with easy fiat deposits and withdrawals.
Cons
- Lacks advanced features like copy trading or high leverage options.
Crypto Trading Fees: 0.30% maker and 0.40% taker (can decrease with higher monthly volume).
Minimum Deposit: £10 (via Faster Payments) or $10 (for USD-based accounts).
Best for:
Regulated fiat-to-crypto trading and secure access to crypto markets for UK users.
FAQs
Is Derivatives Trading Available with Bybit Alternatives in the UK?
OKX and MEXC offer strong derivatives trading, including perpetual futures with varying leverage levels, making them suitable for advanced traders. CoinJar provides limited access to perpetual contracts, while eToro offers CFD trading, though not to UK retail clients due to FCA rules. These features position them as a top Bybit alternative for derivatives-focused users.
Which Bybit Alternative is Considered the Most Secure in the UK?
Gemini is considered the most secure Bybit alternative in the UK due to its institutional-grade custody solutions, robust regulatory compliance, and insurance on digital assets held in hot wallets. As a registered cryptoasset business with the FCA, Gemini offers a highly trusted environment, making it a most popular Bybit alternative for security-conscious traders.
Which Bybit Alternative in the United Kingdom offers the Lowest Fees?
MEXC stands out as the alternative to Bybit in the UK with the lowest trading fees. It offers 0% maker fees and just 0.05% taker fees for spot trading, and futures trading fees as low as 0% for makers and 0.02% for takers. This competitive fee structure makes it a top choice for high-frequency or cost-conscious traders.
Conclusion
Choosing a platform similar to Bybit requires more than just looking at features; it demands a clear understanding of regulatory compliance and long-term security. For UK traders, staying within FCA guidelines not only protects their assets but also ensures access to sustainable trading. These alternatives offer legal access, reliable tools, and peace of mind, ultimately empowering smarter and safer investment decisions.
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