Coinbase Opens UK Derivatives Trading With Up to 50x Leverage

In brief

• Coinbase is launching futures, perpetuals and options for professional investors in the UK, with more than 170 contracts across crypto, commodities, equities and FX.
• Perpetuals carry up to 50x leverage and trade around the clock, while dated futures go up to 20x.
• The launch follows the MiFID investment services authorization the FCA granted Coinbase in July.

Coinbase is opening derivatives trading to professional investors in the UK, announcing on Tuesday more than 170 contracts spanning crypto, commodities, equities and foreign exchange, with leverage of up to 50 times.

The offering covers three contract types, according to a post by UK and international vice president Keith Grose. Perpetuals span the full 170-plus assets, carry no expiry date, trade around the clock and go up to 50x leverage.

Dated futures settle on fixed dates, price cost-of-carry in at entry instead of charging funding rates, and cap out at 20x. Crypto options, limited to crypto underlyings, cover calls and puts across single and multi-leg strategies, with payoff diagrams built into the interface.

Only investors classified as professional clients will qualify, and Coinbase said the rollout will be progressive. The Financial Conduct Authority has barred the sale of crypto derivatives to UK retail consumers since 2021, leaving offshore venues as the main route for individual traders.