The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from the actual provider’s website. BitMEX is a more established crypto margin trading platform with up to 100x leverage available on a traditional futures contract. The HDR Global Trading Limited-owned BitMEX only supports ten cryptocurrencies for spot trading, although it offers a more extensive range of futures contracts. For derivatives trading, advanced users can buy and sell contracts for cryptocurrencies (not the actual coins) combined with margin trading up to 100 times.
As such, users wishing to deposit using their local currency should check out our article discussing the best fiat-to-crypto platforms. It should be noted these platforms charge processing fees, which can be very high. BitMEX lets users convert XBT (BitMEX BTC), USDT, and USDC with 23 supported cryptocurrencies, including ETH, LINK, and ADA. However, for newer leverage traders with less experience, the user interface may be too complicated. More experienced traders will benefit from the market depth chart and order book on the left. This comparison table lists other top alternatives to BitMEX that offer similar features and products for crypto traders.
There is no fiat currency support since this exchange platform only works with Bitcoin as the main cryptocurrency. Other cryptocurrencies only support futures trading options. Now, BitMEX is a globally available leverage trading platform. A traditional futures contract is a type of contract that obliges a trader to buy or sell cryptocurrencies at a certain price and at a certain moment in the future. For most users, it works best as a secondary, purpose-built exchange rather than as your only crypto platform.
Spot trading fees
There are no broad-based card or bank deposit options on par with mainstream retail exchanges; this reinforces that BitMEX is built for crypto-native traders. For active intraday traders, the fee structure clearly rewards consistent maker flow and higher volumes, while casual traders using mostly market orders will see average, but not punitive, costs. After recent updates, baseline fees for regular users are around 0.05%–0.10% per side, which is competitive with or better than many large exchanges.
B) With downside profit contracts, on the contrary, traders take part in potential downsides of currencies. Also, BitMEX allows users to affect their trade, reaching a 100x leverage boost. Being a platform for derivative trading, BitMEX specializes in margin trading. This guide will give you a detailed BitMEX review exploring this trading platform with all its pros and cons. Our goal is not to tell you what to trade, but to help you understand what trading on BitMEX actually feels like in 2025. We wrote this review from the perspective of active traders who care about costs, reliability and risk as much as about headline leverage.
Deposits / Withdrawals:
In the USA, all trading platforms must have a broker’s license in order to provide trading services. BitMEX is deemed one of the safest crypto platforms to trade on due to its high-security standards. If you still question about the BitMEX leverage exchange platform, you may find answers to them in a FAQ section below. There is also a built-in chat that allows traders to not only address the platform’s customer support but talk to one another.
However, a number of web technologies will allow users to access BitMEX from any of the unsupported regions. A) The first type of contract lets a trader take part in the upside of a currency. When engaging in this type of trading, one must be very careful. Back in 2014, in Victoria, Seychelles, a group of talented experts in web development, finance, and trading, launched BitMEX under their company. However, such referral partnerships do not affect our editorial impartiality in compiling reviews.
Amazing exchange
Known for its strong security measures and user-focused tools, BitMEX serves both individual and institutional traders. BMEX can also be used as collateral for trading on the platform, further integrating it into the trading experience. Additionally, BMEX holders receive refunds on withdrawal fees and enhanced staking rewards through the BitMEX Earn program. Although it restricts access to users from certain countries, including the U.S. and several sanctioned regions, the platform is proactive in maintaining compliance. It also employs two-factor authentication (2FA) and encryption protocols to secure data transmission between the platform and users. There are also 100 coins available for spot trading.
Additional Services
If what we say makes next to no sense to you, you should avoid using BitMEX for crypto trading. We receive commission from some companies mentioned in our reviews when you make a transition or perform a target action on their platform. Based on our testing, we came to the conclusion that BitMEX can be an excellent specialist venue to keep in your toolkit if you trade derivatives or hedge positions actively. Yes – if you’re an experienced, high-risk trader who knows how to navigate leveraged products. The platform now operates with a noticeably more compliance-focused approach compared with its early, more permissive years, but the legacy of those enforcement actions still matters for risk-averse users.
Derivatives Trading (with Leverage)
However, the BitMEX platform supports other popular cryptocurrencies such as Bitcoin Cash, Litecoin, Ethereum, Ripple, Cardano, etc. BitMEX trading engine specializes in margin trading, also referred to as leverage. These are the platforms that some traders would choose as alternative options to BitMEX. All of these make BitMEX one of the most secure trading platforms today.
- In an effort to gather diverse perspectives on BitMEX, I explored Trustpilot, and to my surprise, the reviews were not particularly favorable.
- The spot side is modest by comparison, with just over a dozen spot pairs and a focus on BTC, ETH and a handful of majors.
- BitMEX crypto exchange offers very user-friendly trading fees.
- These perks are useful for committed users but not essential for committed users rather than a deciding factor for occasional traders.
BitMEX Review – What Is It? Full Crypto Exchange Analysis
Available in over 150 countries, it serves millions of users, and processes millions in daily trading volume. He started Hedge With Crypto to publish informative guides about Bitcoin and bitmex review share his experiences with using a variety of crypto exchanges around the world. It also offers discounts to BMEX token holders, though those are still being offered to users.
To access the BitMEX platform, a user must complete Know-Your-Customer (KYC) verification). However, United States residents cannot use the platform due to regulatory requirements outside BitMEX’s control. The asset, position size, entry price, margin, and unrealized P&L are all shown and updated in real time. Users can also earn interest on crypto holdings through short-term staking, which supports both Bitcoin and USDT deposits.
- Users willing to navigate its intricacies can benefit from its powerful trading tools.
- To be able to trade on BitMEX, you need an account on the exchange’s website.
- BitMEX Margin Trading is a leveraged trading method that allows users to borrow capital to amplify their trading positions on cryptocurrency contracts.
- Our goal is not to tell you what to trade, but to help you understand what trading on BitMEX actually feels like in 2025.
Our platform earns commissions through partnerships and sponsors, which is how we support our analysts. BitMEX is dedicated to providing an affordable trading environment. The platform stores the majority of user funds in cold wallets, which are kept offline to minimize the risk of hacking. BitMEX takes a multi-layered approach to security, ensuring that users’ assets and personal information remain protected.
Key Features, Markets and Tools on BitMEX
BitMEX is a cryptocurrency derivatives exchange that allows users to trade digital assets with leverage as high as 250x for Bitcoin and 100x for other crypto assets. 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. BitMEX offers BMEX airdrops to users who participate in promotions and utilize the spot trading platform.
BitMEX is a Seychelles-based exchange specializing in leveraged products. BestCryptoExchanges.com do not recommend that you buy, sell, or hold any cryptocurrency. To be able to trade on BitMEX, you need an account on the exchange’s website. There is no mobile application that would allow users to trade on Bitcoin Mercantile Exchange from their mobile devices. On January 12th, 2021, digital currency derivatives trading was banned in the UK.
BitMEX’s convert feature enables users to convert one cryptocurrency into another directly on the platform. Users can potentially use fiat currency to purchase various cryptocurrencies available on the platform, providing a seamless onboarding process for new users. This involves the direct buying and selling of actual cryptocurrencies in the spot market.
MEXC Exchange Review: Is It Safe & Legit in 2025?
They fluctuate daily based on market conditions like demand, price premium, and volatility. The amount depends on whether you’re a market maker (providing liquidity by placing a limit order) or a taker (removing liquidity by placing a market order). This means you can automate your trades using pre-programmed strategies and let the system handle your buy or sell orders around the clock. Meanwhile, for cross margin, your entire balance supports open positions. Start trading on BitMEX today and receive up to $5,000 in rewards for completing simple missions. You don’t need to own the underlying asset; instead, you’re trading based on its price movement.
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