Backpack Reviews
Solana-native exchange whose perpetuals are among the few in the segment offered under EU authorisation — at the cost of a much lower leverage cap for EU clients.
Backpack Rating
Our Opinion
Backpack sits apart in this comparison because the question is not whether you accept a regulatory gap. Its European entity obtained a MiCA CASP licence and a payment institution licence from the Latvian central bank in May 2026, both passported across the EU and EEA. Perpetuals themselves fall outside MiCA — a separate European entity under MiFID II supervision covers them.
The price of that protection is a much tighter frame: EU clients trade roughly 40 pairs at up to 10x leverage, against up to 50x globally. Fees of 0.02% maker and 0.05% taker sit around the market average and above the fee-free competitors.
For EU-based traders this is a different proposition from the rest of the field: less leverage, fewer markets, higher fees — but a regulated framework and a named supervisory counterparty. For anyone unwilling to trade perpetuals entirely outside European supervision, it is one of the few available routes.
Pros & Cons
- MiCA authorisation for the European entity, passported across the EU
- Perpetuals for EU clients through an entity under MiFID II supervision
- A named European supervisory counterparty
- Clean, approachable interface
- 200+ markets in the global offering
- Wallet and exchange in one ecosystem
- VARA licence in Dubai
- EU clients limited to roughly 40 pairs and 10x leverage
- Fees above the fee-free competitors
- Not a pure DEX — execution runs on operator-run order-book infrastructure
- Account with identity verification required
User Experiences
AI AnalysisOur AI collects and analyzes user reviews of Backpack from the web and summarizes the key findings.
The interface is among the most approachable in the segment and navigable even without long futures experience. Unlike the pure on-chain competitors, an account with identity verification is required. As of August 2026.
Editorial assessment based on publicly documented provider information and independent industry sources. As of August 2026. Perpetual contracts are leveraged products carrying a high risk of loss. This comparison is not investment or tax advice. All information without guarantee.
Features
Highlights
- One of the few perpetual venues with EU authorisation
- MiCA CASP since May 2026
- Perpetuals for EU clients since September 2025
- Solana-native infrastructure
Tradeable Assets
- 200+ markets globally
- Around 40 perpetual pairs for EU clients
- Spot trading
- Staking products
Trading Options
- Market and limit orders
- Stop-loss and take-profit
- Reduce-only orders
- Up to 10x leverage for EU clients
- Spot trading with maker fees from 0.08% and taker fees from 0.10%
- Staking
- Swap function (0.85% fee)
About Backpack
Compare Backpack
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