If you are unsure which exchange to start with and you want to know which ones make more sense for spot, light futures or more serious derivatives trading, this comparison table and notes below will help you choose more intentionally.
| Exchange | Primary type | Best suited for | KYC situation | Signup guide |
|---|---|---|---|---|
| LBank | Spot, simple interface | Beginners and intermediate users | Optional; higher limits with full KYC | LBank signup guide |
| Bitunix | Futures / derivatives only | Experienced futures traders | Can start without full KYC; large withdrawals safer with KYC | Bitunix signup guide |
| XT | Spot + light futures | Users moving from spot to light futures | KYC recommended for heavy usage | XT signup guide |
| Ourbit | Simple spot | First-time users in foreign exchanges | Often usable without full KYC at low limits | Ourbit signup guide |
| Toobit | Light spot + some futures | Small size trading and quick deposits | KYC required for larger withdrawals | Toobit signup guide |
| CoinEx | Spot and conversions | Users focusing on moves between exchanges | Limited withdrawals without KYC | CoinEx signup guide |
| KCEX | Advanced futures | Serious futures traders with experience | Full KYC safer for heavy, long-term use | KCEX signup guide |
| MEXC | Futures + many altcoins | Altcoin and semi-pro futures traders | Can start without full KYC, but sanctions risk must be considered | MEXC signup guide |
If this is your first foreign exchange account and futures are still confusing, Ourbit and CoinEx are calmer choices with simple spot trading and reasonable fees.
If you have some spot experience and want to test futures carefully, XT and then MEXC can be reasonable mid‑steps. In all cases, trading futures without a clear plan and stop‑loss is a fast way to lose capital.
If you already understand leverage, liquidation and risk management, then Bitunix and KCEX will probably fit better. These platforms make more sense for traders who treat futures as a serious business, not a quick gamble.
There is no single right answer. For more advanced traders, a mix of Bitunix, MEXC and KCEX usually covers most needs. Your choice should follow your trading size, preferred pairs and your tolerance for platform and regulatory risk.
Most exchanges allow trading and limited withdrawals without full KYC. For large withdrawals, repeated activity and long‑term use, completing KYC with real information is usually safer.
If your account is flagged for security review, withdrawals may be paused until KYC is completed. That is why you should avoid keeping all critical funds on a single non‑KYC account.
For most people, starting directly with futures is a mistake. Small‑size spot trading, learning position sizing and understanding how the market moves are prerequisites before touching leverage.
Treat the first deposit as a test. Use a small, non‑critical amount to test deposits and withdrawals. Only after a successful withdrawal should you consider moving larger sums.