BitMEX Review 2023 Features, Regulation, Fees & More

Traders can initiate many different order types such as pegged orders, trigger orders, and hidden orders. Now, BitMEX cryptocurrency derivatives platform is owned by HDR Global Trading Limited that has offices worldwide, however, is registered in Seychelles . Stay up to date with our latest exchange reviews, promotions, how-to guides and educational articles on Bitcoin, cryptocurrency & more. BitMEX offers an extensive help center with helpful articles and videos to show users how to use the platform. Users can also submit a support ticket directly from the help center, allowing them to track the status and get updates on raised issues.

High-frequency algorithmic trading at BitMEX continues to help traders who sell contracts on Bitcoin swaps. In this BitMEX review, different aspects of the platform have been reviewed. Margin trading and leverage trading features of the platform have been evaluated. Make sure you contact the real Bitmex company to check if they are real.

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For a 10 Bitcoin contract worth $10,000, the leverage would be put up at $100 of the initial margin. On BitMEX, XBT-USD is one of the most traded perpetual swaps that changed the crypto industry for the better. The BitMEX team continues to innovate with robust trading engine security and new perpetual swaps. Ideal for those who want to leverage on Bitcoin, both buying or selling. Terrible service, few days ago while the market was moving hard, Bitmex was down for some time, and all my orders were executed without being able to access the exchange.

• Perpetual futures contracts, on the other hand, are a different type of derivative where there is no predetermined date – users can open and close them whenever they want.
• Bitcoin Mercantile Exchange, or BitMEX, is a margin trading platform owned by HDR Global Trading Limited.
• BitMEX allows higher leverage with a lower margin and smaller minimum contract amount.
• In many circumstances, clearing and settlement are conducted by a separate entity from the one operating the exchange.

While users can purchase crypto using fiat via a third party, there are typically high fees assisted with this payment method. As such, users wishing to deposit using their local currency should check out our article discussing the best fiat-to-crypto platforms. More experienced traders will benefit from the market depth chart and order book on the left. The BitMEX margin calculator feature is also great for risk management. Given that derivatives trading isn’t widely understood by the general public, there aren’t many public reviews for BitMEX. Trustpilot only has a few reviews for the platform with an overall rating of just 2.4 stars.

Overall, the fees offered by the BitMEX exchange are very reasonable, especially for a platform that offers leveraged contracts. Like most crypto exchanges, BitMEX supports deposits via crypto. There are 30 supported assets for depositing, including BTC, LINK, and USDT. There are no fees for depositing crypto, though users may need to pay network fees to transfer crypto from their wallet to BitMEX.

Centralized Exchanges vs Decentralized Exchanges

Leading cryptocurrencies such as BTC, XRP, ETH, BCH, LTC, BCH, and LINK can be traded easily on BitMEX. For most users, BitMEX is the only exchange to offer low fees on deposits and withdrawals. The platform is one of the best crypto exchanges to provide leverage up to 100x. The trading fee on BitMEX starts at 0.025% and goes up to 0.0075% of the trading amount. On the other hand, all other currencies have only futures markets. They accept no fiat deposits and use Bitcoin as the engine for their platform, which means that profits and losses are shown in Bitcoin even when you’re working with altcoin contracts.

The next factor considered in our BitMEX exchange review is the platform’s approach to processing payments, deposits and withdrawals. As has already been mentioned, BitMEX only accepts deposits in Bitcoin, which in turn is the collateral on trading contracts, whether the trade involves the currency directly or not. BitMEX is a cryptocurrency trading platform that was founded in Seychelles by Arthur Hayes.

BitMEX Fees Review

Fill in details and enter the email address to generate an account password. Under the regulations of the Commodity Future Trading Commission, the BitMEX trading engine helps people in trading currency directly. https://forex-reviews.org/ It helps generate value for Bitcoin and other crypto coins, which are not the actual coins. It’s a bit complicated to understand the way it works, but they are reliable and professional, with very good support.

For derivatives trading, advanced users can buy and sell contracts for cryptocurrencies combined with margin trading up to 100 times. Naturally, a key factor for any exchange review is which currencies the platform supports. One of the main things that sets BitMEX apart from other exchanges is its focus on professional traders. The platform offers a wide range of advanced trading tools and features, including margin trading with up to 100x leverage, futures contracts, and stop orders.

To use it as a stop-loss, you need to input a stop price that, once reached, will trigger the limit order to be executed at that specified price. To use it as a take-profit, do the same but set a higher price than your entry. The stop price is the price where your stop-limit order will turn into a regular limit order (conversely – a market order if you use a stop-market order). The price tab, on the other hand, is showing when you want to buy. The trading pairs are available to the left, whereas the center is occupied by a chart powered by TradingView. Right below it is the section to monitor open orders, order history, and broader trade history.

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BitMEX, a cryptocurrency trading platform, offers various tools and services for traders around the world. These services are segmented based on the liquidation price of the crypto assets. For example, using the BitMEX account for trading fiat currencies is a unique offering that other cryptocurrency exchanges overlook. It allows a demo cryptocurrency trade to its users without any risk.

Everything looked real except lwhen they wanted tax money and kept asking me to up my funds I got wise and started to ask questions. Generally, it seems like customer support at BitMex is amongst the most knowledgeable in the market. Their team is polite, courteous, speak English well, and they try to cater to the expanding market and attempts to take the pressure off their customer service. This the fund, which BitMex set up to ensure that liquidation orders related to leveraged positions are filled. According to the media reports, it has increased to holding over 31,300 bitcoins or approximately $314 million in 2019.

The fees are some of the lowest in the industry, with rebates available for derivatives traders and access to 100x leverage. However, as leverage can increase the potential downside, BitMEX only supports 30 coins, and there is no propriety fiat support, it is only made for advanced crypto traders. Overall, BitMEX is a solid choice for experienced traders looking for a platform with advanced trading tools and high liquidity. The exchange’s low fees and strong security measures are also major selling points. However, new traders may want to consider a more user-friendly platform.

That includes multi-signature deposit and withdrawal systems, multiple verification methods, a cold wallet instead of a hot one, and even more safety measurements. As you can see, there are only 10 cryptocurrencies to choose from. The number of options is very limited compared to some of the top-rated crypto exchanges, such as Binance and Coinmama, that offer hundreds of options to choose from. If you’re looking for a reliable crypto exchange platform that would support fiat currencies and allow you to purchase Bitcoins without much trouble, you should check outBinance and Coinmama. The BitMEX app allows you to access real-time market data, make deposits and withdrawals easily, increase your security through multiple authentications and login notifications, and so much more. So if you decide that BitMEX is a suitable platform for your needs, you should download the app as well.

Searching for a social network and a crypto copy trading platform? We reveal our pick for the best crypto social trading platform. Recently, BitMEX launched live chat support, allowing users to chat with a customer support representative. Upon our initial testing, the chat response from the BitMEX team was slow, but overall, the support is much better than it used to be.

The top trading bar has a static display and provides easy navigation throughout the ‘Trade’ window. The view of the ‘Accounts’ page and ‘Contract’ information is easy to comprehend. The UI also appears essential but has all the features of popular exchanges like Bybit. Investopedia is dedicated to helping those interested in cryptocurrency investing make informed and safe decisions. We are committed to providing our readers with unbiased reviews of the top cryptocurrency exchanges for investors of all levels.

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This means that you won’t be able to purchase cryptocurrencies using fiat currencies, such as USD and EUR, and will have to transfer Bitcoins from another platform to BitMEX. If you want to maximize your earnings, you have to minimize your spendings – that’s pretty simple. Now, if you want to gain as much as you can from a trading platform, you should always take a look at the fees. They might seem almost unnoticeable, however, when you’re making multiple trades, you’ll notice the difference. When it comes to perpetual contracts they’re the same as futures contracts, except for the fact that there’s no specific time in the future when you have to sell it.

There’s no doubt that BitMex is the large and fastest margin trading platform in the world. Leverage and margin trading are the unique features of BitMex and that makes it worthy. The BitMex platform serves hundreds of customers that invest billions of USD per day. BitMEX is a market-leading peer-to-peer bitmex review trading platform that enables traders to buy and sell futures and perpetuals on a range of crypto assets. The platform is used for building perpetual contracts on margin trading. Keep this in mind when choosing the best crypto exchange platform for yourself, whether it be Binance, Coinmama, or else.