# Hyperliquid Non-custodial onchain exchange for crypto perpetuals and spot with a fully onchain book Source page: https://trust.chartnaut.com/brokers/hyperliquid Website: https://hyperliquid.xyz Type: Crypto Founded: — Based in: — Minimum deposit: — Markets: Forex, Indices, Commodities, Crypto Platforms: Own platform / app Deposits and withdrawals: Card, Crypto ## Overview Hyperliquid isn't a broker in the usual sense. It's a decentralised exchange running on its own blockchain, where you connect a crypto wallet and trade perpetual futures and spot directly against an onchain order book. It suits experienced crypto traders who want centralised-exchange speed while keeping custody of their own funds. The flip side is regulation: Hyperliquid holds no licence anywhere, the FCA has published a warning that it isn't authorised in the UK, MAS has it on its Investor Alert List, and it doesn't serve US residents. ### Accounts and costs There's no account in the broker sense, just your wallet. You deposit USDC, and there's no enforced minimum beyond what it costs to bridge in, though a few dollars is the practical floor. Perps cost 0.045% taker and 0.015% maker at the base tier, and those rates fall with your 14-day volume and if you stake HYPE tokens. Leverage depends on the market: up to 40x on BTC, 25x on ETH and usually 3x to 10x on altcoins, with some third-party HIP-3 markets reaching 50x. ### Platforms and markets You trade through Hyperliquid's web app or mobile app, or through its API. TradingView now carries Hyperliquid price data for charting, and third-party tools can turn its alerts into orders. Markets cover hundreds of crypto perpetuals and spot pairs, plus perps on gold, silver, oil, the S&P 500 and FX, all open 24/7. You can also put USDC into vaults such as HLP, which earn or lose money from market making. ### Money in and out Deposits are USDC, sent mainly over Arbitrum, with other networks supported and a card on-ramp to buy USDC in the app. Hyperliquid doesn't charge for deposits, and withdrawals carry a flat fee of about 1 USDC. ## Good - Non-custodial, so funds stay under your own wallet's control - Low perps fees from 0.015% maker and 0.045% taker - Every order, trade and liquidation settles onchain and can be checked - 300+ perpetual and spot markets, including oil, gold, indices and FX, open 24/7 - No gas fees on trades and a flat withdrawal fee of about 1 USDC - Automation through its API and third-party TradingView alert tools ## Watch for - Not licensed anywhere; the FCA has issued a warning and MAS lists it on its Investor Alert List - No investor protection, compensation scheme or formal dispute route - Not available to US residents - Needs a crypto wallet and USDC, with limited fiat on-ramps - High leverage on perps makes liquidation a real risk ## Regulation No regulator found. Investor protection: None: Hyperliquid holds no financial licence and offers no compensation scheme - API trading: yes ## Accounts and costs | Account | Min deposit | Pricing | Max leverage | | --- | --- | --- | --- | | Wallet account (perps and spot) | — | Perps 0.045% taker and 0.015% maker at the base tier, lower with 14-day volume and HYPE staking; USDC margined | Up to 40x on BTC native perps, lower on most altcoins; some HIP-3 markets go to 50x | Not available in: US ## What traders say Checked 2026-10-06. - Trustpilot: 2 / 5 from 15 reviews (https://www.trustpilot.com/review/hyperliquid.xyz) - Reddit: no score (https://www.reddit.com/r/defi/comments/1p131qv/anyone_think_hyperliquid_is_worth_using/) Hyperliquid is a decentralised exchange for perpetual futures and spot crypto, not a regulated broker, and there is very little formal review evidence about it. Its Trustpilot page shows 2.0 from just 15 reviews, and Trustpilot flags it as possibly associated with high-risk investments. Most discussion happens on Reddit, where traders are far more positive about the trading itself. Treat the picture as thin. ### What traders like - **Speed and feel.** Reddit users in r/defi and r/CryptoCurrency say execution is instant and the interface feels close to a centralised exchange. - **Low fees.** Many mention low trading costs compared with other on-chain venues. - **Self-custody.** Some like that funds stay in their own wallet and can be withdrawn in USDC at any time. - **Transparency.** Several point to the fully on-chain order book and the lack of venture capital backing. ### Common complaints - **Frozen or flagged accounts.** A few Trustpilot reviewers and Reddit users say the official interface blocked their address, citing links to a sanctioned exchange, a high-risk wallet or VPN use, and that support did not help. Some say this means it is not truly decentralised. - **Little support.** Reviewers say support only runs through Discord and email, and some say they were banned from those channels. - **Funding costs.** One Reddit trader says funding rates on popular contracts reached 30 to 50% a year, more than swap costs at a CFD broker for the same exposure. - **Thin new listings.** Some Trustpilot and Reddit reviewers raise concerns about price swings in newly listed coins and premarket contracts, including a 2025 episode where a large trader forced a cascade of liquidations. ### Recently No dated reviews from the last 90 days in our evidence. ### Where this comes from - [Trustpilot](https://www.trustpilot.com/review/hyperliquid.xyz): the hyperliquid.xyz page, a very small sample. - [Reddit](https://www.reddit.com/r/defi/comments/1p131qv/anyone_think_hyperliquid_is_worth_using/): an r/defi thread on whether it is worth using, with more in r/CryptoCurrency and r/hyperliquid1. --- Information gathered from public sources (company websites, regulator registers, third-party review sites). Ratings are quoted from those sources and are not the opinion of Chartnaut.com. Not financial advice. Trading carries a high risk of loss. Questions or corrections: help@chartnaut.com. Methodology: https://trust.chartnaut.com/methodology