Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
Pros & Cons
- User-friendly interface suitable for traders of all experience levels.
- Staking options and a referral program for earning passive income.
- High level of asset security.
- Mobile app for managing funds from anywhere.
- No demo trading account.
- Limited number of supported cryptocurrencies.
Backpack is a regulated centralized exchange (CEX) launched in 2023, operating in jurisdictions worldwide. Serving over 500,000 clients from more than 150 countries each month, Backpack makes cryptocurrency trading accessible to all. With low fees and an intuitive interface, it caters to both seasoned traders and newcomers. Clients can leverage tools like cryptocurrency spot trading, staking, and a referral program to generate passive income. Backpack operates under a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA).
TU Expert Verdict
Backpack carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.
Top-5 Crypto Exchanges Traders Prefer
Backpack User Reviews
-
5-star
0%
-
4-star
0%
-
3-star
100%
-
2-star
0%
-
1-star
0%
-
Backpack Commissions and Fees
Score:This category evaluates trading costs and the transparency of deposit and withdrawal charges according to the Methodology. It covers spot and futures trading fees, P2P exchange costs, deposit/withdrawal fees, and tiered fee structures. The assessment ensures that fees are competitive and clearly disclosed, avoiding hidden or excessive costs. Each factor is scored based on defined criteria, contributing to the overall rating.8.8 /10Backpack has earned a rating of 8.8/10 for its trading fees. This makes it a highly attractive choice for active traders seeking to reduce costs, as Backpack is a platform with minimal crypto trading costs.
- Futures fees below industry average
- Spot fee below industry average
- No deposit fee
- Withdrawal fee may be applied
- P2P fee applied
What are Backpack trading fees?
We analyzed Backpack’s crypto fees and compared them to the top two competitors, both of which hold high average positions in our rankings. To establish a comprehensive benchmark, we also calculated the average fee score based on an evaluation of over 100 cryptocurrency exchanges.
Backpack trading fees vs competitors
Backpack Nexus Trade CoinMetro Industry average Based on the evaluation of over 100 leading crypto exchanges Spot, maker fee (%) Maker fees are charged when liquidity is added to the order book. This occurs by placing a limit order below the current market price for buy orders, or above the market price for sell orders. 0.08 0.22 0.1 0.15 Spot, taker fee (%) Taker fees are charged when liquidity is removed from the order book. This typically happens when a trade is executed at the market price. 0.1 0.22 0.2 0.194 Futures, maker fee(%) 0.02 0 0 0.024 Futures, taker fee(%) 0.05 0 0.053 What are Backpack deposit and withdrawal fees?
Deposit fee, % Important! Even if an exchange does not charge fees for deposits and withdrawals, there can also be fees from the payment system or cryptocurrency network used by the user. For example, the network fee for USDT TRC20 is typically around $1. 0 Withdrawal fee, % 0.00012 BTC 0.0014 ЕТН Does Backpack offer P2P trading?
No, Backpack does not support P2P transactions. However, you can explore the best alternatives in our dedicated list of top P2P exchange platforms, offering a variety of secure options for peer-to-peer transactions.
-
Regulation and Safety
Score:Our evaluation encompasses several key factors, including government regulation, two-factor authentication (2FA), cold wallet storage of client assets, investor protection funds, KYC protocol adherence, year of foundation, and history of security breaches. Read more in our Methodology6.8 /10With a 6.8/10 score, Backpack demonstrates a moderate level of security and regulation. While the platform meets basic safety standards, it may not offer the same level of protection as higher-rated exchanges.
- 2FA
- Cold wallet storage
- Government-regulated
- No successful hacks history
- No investor protection fund
- Not U.S regulated
- No facial recognition
We also compared Backpack against the top two competitors with the highest scores in our overall ranking based on the most critical security indicators.
Backpack Security Factors Backpack OKX Coinbase Tier-1 regulation NoNoYesGovernment-regulated YesYesYesInvestor protection fund Provides compensation to users in case of financial loss due to unforeseen circumstances on the platform. NoYesYes2FA YesYesYesFacial recognition NoYesNoCold wallet storage The majority of user funds are held offline, reducing vulnerability to online attacks. YesYesYesSuccessful hacker attacks We review publicly available information on past security breaches to assess the exchange's security track record. NoNoYesIs Backpack a regulated crypto exchange? Regulation is crucial for the security and legitimacy of a cryptocurrency exchange. We assess the exchange’s regulatory status and its impact on platform reliability.
Backpack is regulated by a government authority, ensuring compliance with national and international standards. However, it does not hold Tier-1 regulation (e.g., in the U.S., UK, Germany, Spain, France, Australia, Singapore, or other jurisdictions with strict financial oversight). While this regulation provides an added layer of security and legitimacy, it may not offer the highest level of investor protection found in top-tier regulatory environments.
Backpack is authorized or licensed in accordance with local regulations in the following regions: Dubai.
Is verification (KYC) mandatory at Backpack?
Yes, KYC verification is mandatory at Backpack. You will need to complete the verification process before you can open an account and access the platform's full range of services.
Is Backpack available in the USA?
Backpack is not available in the USA due to regulatory restrictions. In some cases, access might differ by state, so we recommend confirming details with the platform’s support or checking the official website for the latest updates.
You may also consider the top 3 exchanges that are available in the USA and rank highly based on our methodology: OKX, Coinbase, Crypto.com .
-
Deposit and Withdrawal
Score:We evaluated the deposit and withdrawal experience, considering several key factors such as the range of available methods, transaction processing speed, minimum deposit requirements, and associated fees. Read more in our Methodology.2.5 /10Backpack received a 2.5/10 rating for its deposit and withdrawal services. Backpack offers limited funding options and may charge fees, which could be inconvenient for many users.
- Many cryptocurrencies for deposits and withdrawals
- No deposit fees
- No P2P transfer option
- No PayPal option
Deposit and withdrawal options
Backpack supports the following deposit and withdrawal options: Crypto.
Backpack Deposit and withdrawal options vs competitors
Backpack OKX Coinbase Bank transfers NoNoYesBank card NoYesYesCrypto YesYesYesPayPal NoNoYesWhat is Backpack minimum deposit?
The minimum deposit at Backpack is 1 USD/USDT or 1 BTC. The minimum trade size is 1 USD/USDT, which also serves as the minimum amount required to start trading on the platform.
Backpack minimum deposit vs competitors
Backpack OKX Coinbase Minimum deposit, USD or USDT 1 10 10 Minimum deposit, BTC 1 5 1 Minimum trade amount, USD/USDT 1 1 2 Does Backpack support fiat money?
Backpack does not support fiat currencies; only cryptocurrencies are accepted.
-
Supported Coins & Markets
Score:Evaluates the range of available cryptocurrencies, fiat currencies, and markets, as well as investment tools like staking, farming, and other yield options. Read more in the Methodology section.4.5 /10Backpack received a score of 4.5/10 in this category, indicating a modest offering of assets and markets. While Backpack covers essential trading functions, the number of supported coins, fiat currencies, and investment tools may be insufficient for users seeking more comprehensive options.
- Trading tokenized real-world assets
- Staking available
- Crypto futures available
- Yield farming not available
- Only 67 supported coins
Backpack supported coins and markets vs competitors
We compared Backpack with leading exchanges in terms of supported coins, NFT access, and derivatives like futures and options to help users assess the platform’s product range and trading flexibility.
Backpack OKX Coinbase Supported coins 67 600+ 400+ Futures/Perpetual contracts YesYesYesOptions NoYesNoNFTs YesYesYesTokenized Assets Digital tokens representing real-world assets, such as stocks, bonds, commodities, or real estate. YesYesYesTradFi Perps Perpetual futures contracts linked to traditional financial assets, such as stocks, indices, or commodities. NoYesYesPrediction Markets Markets where users trade contracts based on the outcomes of future events. NoNoNoOther Assets Stocks NoPre-IPO Backpack passive income options vs competitors
We also compared Backpack with top competitors in terms of passive income opportunities such as staking, farming, and copy trading, to help users evaluate the platform’s earning potential beyond regular trading.
-
Trading Apps & Tools
Score:This section evaluates the quality and variety of trading platforms offered by the broker. It considers supported platforms, core features, device compatibility, and the availability of tools for automation, analysis, and different trading styles. Learn more in our Methodology.7 /10Backpack received a score of 7/10 for offering a solid set of tools. The apps are intuitive and reliable, though certain advanced features remain limited or could benefit from further development.
- Advanced tools and automation with API
- App data protection with 2FA
- Mobile indicators allowed
- Android app score 4.6
- Advanced orders not available
- No access to TradingView features
- No Face ID
Trading apps
Backpack provides web and mobile apps for both Android and iOS users, with an average rating of 4.5 on the App Store and 4.6 on Google Play. Our review focused on core features important to traders, particularly trading functionality and security tools, to evaluate how convenient and safe the Backpack platform is for mobile use.
Backpack OKX Coinbase 2FA YesYesYesFace ID NoYesNoMob Indicators YesYesYesAlerts NoYesYesAdvanced Orders These are specialized trading features that give users more precise control over how trades are executed. Examples include Stop-Limit, Trailing Stop, and OCO (One Cancels the Other). These tools may only be available on the web version of the platform. YesYesYesTrading with bots YesYesNoAPI YesYesYesExtra trading platforms These refer to third-party platforms supported by the crypto exchange in addition to its own proprietary system. NoNoNoDoes Backpack offer a desktop app?
No, Backpack does not currently offer a desktop app. However, users can access the platform via its web version, which provides more comprehensive functionality compared to the mobile apps.
Does Backpack offer advanced charting with TradingView integration?
No, Backpack does not currently support TradingView integration. However, it provides its own built-in charting tools with basic indicators and timeframes.
-
Customer Support
Score:We evaluated Customer Support at Backpack based on the availability of live chat, email, phone support, ticket systems, help center resources, 24/7 assistance, multilingual support, and response time. Our assessment focuses on support accessibility and responsiveness. Learn the assessment criteria5.5 /10Backpack offers a moderate level of customer support, covering basic communication channels and assistance options.
In TU testing, the exchange showed mixed results in support accessibility and responsiveness. Certain limitations in contact options, availability, or support resources may make it less convenient for users requiring immediate assistance.
- Comprehensive help center available
- 24/7 customer support available
- Live chat support available
- Email support unavailable
- Limited language support
Backpack Support Channels vs Competitors
Backpack OKX Coinbase Live Chat YesNoYesEmail Support YesNoNoPhone Support NoNoNoTicket System YesYesYes24/7 Support YesYesYesHelp Center / FAQ YesYesYesMultilingual Support NoNoYesContacts Official site https://backpack.exchange/
Best Backpack Alternatives
Articles that may help you
-
#For Beginners
All Backpack Fees: Is It Cheap or Expensive? (November 2026)
October 2026 Andrey Mastykin -
#For Beginners
Is Backpack Safe, Secure & Regulated in 2026?
October 2026 Andrey Mastykin -
#For Beginners
Pharos Testnet: All You Need To Know
November 2026 Aleksandra Chaikina -
#For Beginners
What Are Embedded Wallets? Embedded Wallets As A Service
November 2026 Viktoras Karapetjanc -
#For Beginners
BitPay Wallet Review 2026 | Full Guide
November 2026 Viktoras Karapetjanc -
#For Beginners
Cathie Wood’s Crypto Investments: An Overview
November 2026 Rinat Gismatullin -
#For Beginners
Grayscale Crypto Portfolio: A Deep Dive Into Its Holdings
November 2026 Mikhail Vnuchkov -
#For Beginners
Top Free Crypto Trading Courses In 2026
November 2026 Peter Emmanuel Chijioke -
#For Beginners
Best 6 Cold Crypto Wallets in 2026
November 2026 Parshwa Turakhiya
