bitmex review

BitMEX offers some of the lowest trading fees in the industry, with maker and taker fees starting at just 0.1% and rebates available for high-volume traders. It also offers discounts to BMEX token holders, though those are still rolling out to users. The trading fees on BitMEX are similar to platforms such as Binance. Moreover, BitMEX offers different fee schedules for both spot trading and derivatives trading. For experienced traders looking for a professional level futures and derivatives exchange-type platform for cryptocurrency markets, BitMEX is the obvious choice.

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Learn about the best crypto copy trading platforms that allow you to replicate the strategies of successful traders. In addition to running an MPC, Bitmex also offers two-factor authentication, multi-signature withdrawals and deposits, cold storage, and regular audits to ensure the platform is protected. To ensure that our BitMEX review provides the most value to our readers, we’ve drawn comparisons between the exchange and other platforms that provide access to cryptocurrency markets. Derivatives trading offers a simplified fee schedule, with a BitMEX market Maker rebate of -0.01% available on all trades and a Taker fee of 0.075% for all transactions. Taker fee discounts are available to traders with over $1 million in 30-day trading volume, with a maximum fee discount of 66.67% for trading $50 million (or more). Unfortunately, BitMEX does not offer the ability to deposit using fiat directly.

BitMEX USA – Not Available

The referral program is also beneficial for those that you refer. For a period of 6 months after they have signed up, BitMEX will offer them a 10% discount on their trading fees. This is also particularly useful for those traders who command a relatively strong following online. If you refer someone to BitMEX then you will earn a percentage of the trading commissions from that individual.

The database also uses a tracker to protect the movement of private keys. They are kept in deep cold storage, along with encrypted crypto funds. Under the regulations of the Commodity Future Trading Commission, the BitMEX trading engine helps people in trading currency directly.

BitMEX isn’t the only exchange built around supplying futures trading options. Exchanges like Bitfinex and OKCoin are considered as worthy alternatives. However, there are some differences between these exchanges and BitMEX. Support is offered via an email ticket, which is pretty standard for the industry. Simple inquiries and issues can be resolved by BitMEX staff in the “Trollbox”, a public chatbox where traders can also chat with each other.

BitMEX Ease of Use

At the point the account’s value cannot cover a trade’s maintenance margin level, it is liquidated so the account can never end up in debt at the end of a trade. The holding company HDR (Hayes, Delo, Reed) Global Trading is registered in Seychelles but also has operational centers in Hong Kong and in the US. BitMEX generates high Bitcoin trading levels, and also attracts good levels of volume across other crypto-to-crypto transfers. This helps to maintain a buzz around the exchange, and BitMEX also employs relatively low trading fees, and is available round the world (except to US inhabitants). Given the inherent volatility of the cryptocurrency market, there remains some possibility that the fund gets drained down to zero despite its current size.

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Detailed, transparent information on fees is also provided on the BitMEX website. So instead of trading digital currencies directly, investors buy contracts on underlying tokens and coins, which can be more volatile than traditional trading. BitMEX is one of the most popular trading platforms in the crypto space today. The platform offers plenty of trading features to investors, helping them stay successful in the global financial markets.

TestNet Demo Account

People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Yes, BitMEX mobile app and APIs are available on iOS and Android devices. Storage of user assets such as Bitcoin and the private keys is entirely offline. When there is a complete system compromise, BitMEX will not lose any assets via web servers. As a trading bot, the BitMEX Market Maker also supports several API Keys to provide a good starting point for trading implementing new plans and trading strategies. Here, you will find all the exact functions and features as you would on the real-time BitMEX exchange.

bitmex review

The latter is done without email confirmation, so be very careful with it. Hence, the websocket API would be best for those developers who are building applications that make use of market data from BitMEX. Most of this information can also be accessed from the exchange with no authentication required.

BitMEX Trading Volume

The platform is considered one of the safest exchanges for margin trading. It is a highly-rated platform for spot trading, BTC deposits, and maximum leverage trading. Keep this in mind when choosing the best crypto exchange platform for yourself, whether it be Binance, Coinmama, or else. Bitmex is a cryptocurrency platform that’s not for the faint of heart. It offers a wide range of advanced trading features that allow users to buy, sell, or trade the cryptocurrencies available.

  • The support team also helps traders with minimum amount details when they don’t have enough funds to trade.
  • Financial Crimes Enforcement Network (FinCEN) in 2021 for willfully violating the Bank Secrecy Act (BSA) and FinCEN regulations.
  • Just to give you an idea of how fast the trading engine can execute orders, it is well known that kdb+ has a throughput rate of up to 1,000,000 trades per second.
  • Not only that, please bear in mind that these are snapshots, ie a moment frozen in time.
  • Although you can trade a margin position on altcoins, you profit will be in Bitcoin and you cannot withdraw these coins from the exchange.
  • Now that your account is up and running you can make your first trade.

Prior to buying cryptocurrencies on the exchange, you will obviously have to sign up on the exchange first, which this section will cover. It would be remiss not to mention that 2022 was one of our industry’s toughest, with the contagion effects of the Terra Luna collapse and FTX meltdown, rippling across the crypto markets. BitMEX is clearly not a platform that is not intended for the amateur investor.

Local laws may affect your use of the service, however this is out of the exchange’s control. Deposits and withdrawals on BitMEX continue to be free of charge, which is always very pleasing—you shouldn’t be left with any hidden costs once you’re done trading (other than the network fees). The exchange became most popular for its derivatives products – most notably its Bitcoin perpetual swaps, collateralized with Bitcoin and accompanied by up to 100x leverage. Overall, the fees make for an appealing read on BitMex, when compared to the most cryptocurrency exchange.

If any position you have dropped below the maintenance margin requirements for the order, you must add additional funds to it in a margin call. This raises you back up to the correct margin position and preserves the order. Isolated orders are set up with a specific amount of margin assigned by the user.

Like many of its competitors, BitMEX also provides a yield-bearing feature called BitMEX Earn. This service enables users to deposit their crypto assets for fixed periods of time, earning a certain rate of return. The exchange does not appear to disclose how it generates yields on these deposits, however it is probably safe to assume they are lent to institutional borrowers with interest. The BitMex team uses their financial and web-development experience to create a slick platform that enables high-octane cryptocurrency trading.

BitMex Deposits and Withdrawals

Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services.

  • If I lose my initial investment, the bank will liquidate my assets and keep all my Bitcoin.
  • Moreover, you can visit the company’s FAQ section where you’ll be able to find information about liquidation, contracts, leverage, fees, deposit, security, and even more.
  • It is also worth noting that perpetual contracts most commonly trade at a different price to futures contracts.
  • The company was founded by former banking experts Samuel Reed, Arthur Hayes and Ben Delo.

Another feature available on FTX that Bitmex doesn’t have is its list of supported cryptocurrencies. Bitmex only offers nine coins, while FTX offers a long list of tokens, cryptocurrencies, and digital assets. Bitmex isn’t a very well-known exchange, but if you’re looking for a platform that gives you access to a variety of advanced trading features, this might be it. Our Bitmex review will cover all the questions you have about this unique crypto exchange.