If you trade with 100x, for example, it means that by investing $10, you can trade as if you have $1,000. Though, the allowed leverage depends on the contract in question – most support up to 100x or less. Of course, if you want to take additional security measures, you should definitely get yourself a hardware wallet. So, they are not traded, staked, lent, or used otherwise on behalf of the company.
Despite facing challenges in the early stages, including sleeping on a friend’s couch to save money, BitMEX gained traction in the market. Guilds on BitMEX serve as a unique and innovative platform feature that combines community collaboration with multi-account functionality. She has covered many topics, from crypto adoption to regulatory developments, delivering well-researched analysis with clarity and depth.
Key Features, Markets and Tools on BitMEX
The exchange offers great liquidity, leverage, and a wide range of products. BitMEX Academy is a multimedia learning platform on all things crypto, featuring lectures from some great minds of the industry like legendary trader Justin Chow, as well as interactive courses and an extensive amount of content in the form of a library of articles and a podcast section. BMEX gives users access to trading rebates, better rates for the exchange’s Earn product, access to BitMEX Academy, and other benefits. BitMEX aims to be a one-stop platform for anyone, be they an experienced trader or newcomer, who wants to learn about and trade with crypto.
Low BitMEX Fees
- Select your preferred cryptocurrency (USDT, BTC, or ETH) on the deposit page and copy your unique wallet address.
- In 2021, the kicking-off of the Beyond Derivatives strategy started carving the path towards BitMEX’ mission to become the world’s largest regulated crypto exchange and a real catalyst for change in the financial industry.
- Imagine you enter a futures contract to buy 1 BTC for $120,000 on January 1.
- So, whether you’re into market making, arbitrage, or momentum strategies, the platform gives you all the tools to automate your trades.
Though it is integrating more and more beginner-friendly features, like spot trading. Yes – if you’re an experienced, high-risk trader who knows how to navigate leveraged products. For a derivatives exchange with large open interest, that track record is meaningful, though as always in crypto there are no guarantees. 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. These perks are useful for committed users but not essential for committed users rather than a deciding factor for occasional 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.
BitMEX Review: The Colorful History of the Company
US traders, on the other hand, should check out Kraken or Coinbase. Also, the variety of crypto assets the exchange supports is quite limited compared to what you can find on other crypto exchanges these days. Also, BitMEX fees are quite low, so it’s definitely recommended for those who are into daily trading. Though, while in the past you could transfer only Bitcoin, now other cryptocurrencies can be deposited, too. Just like is custom for a reputable crypto exchange, BitMEX has its own native utility token, BMEX. 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.
BitMEX employs a comprehensive fee structure for its trading platform, focusing on simplicity and offering discounted Taker Fees for high-volume traders. 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.
BitMEX Features
You probably know that the US is very strict when it comes to cryptocurrencies and trading platforms, especially regarding decentralized/unregulated ones. Even though BitMEX seems to be a good platform that offers amazing functionality, robust security, low fees, and other great benefits, not everything is just as good. Moreover, you can visit the company’s Knowledge Base, where you’ll find information about liquidation, contracts, leverage, fees, deposits, security, and more. Whether we’re talking about perpetual contracts or traditional futures, the fees are the same for all derivative products.
Since there’s no settlement date, you can hold a position across different market cycles, adjust your strategy in real time, and manage risk using tools like stop loss and cross margin. Its core derivative products include perpetual and futures contracts, which we discuss below. As a result of this restriction, the exchange reserves the right to close accounts and liquidate positions of traders found violating this policy.
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. We opened and closed a real BTC spot trade of roughly $200, watched the order book, checked for slippage, and measured what actually landed in our account after fees. Trade Bitcoin and other cryptocurrencies with up to 100x leverage. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. This process prevents traders’ margin balance from going below zero.
BitMEX does not charge any fees on Bitcoin deposits or withdrawals. To know how much your funding fee is, you can check the current funding rate directly on the trading interface for the contract you are trading. They fluctuate daily based on market conditions like demand, price premium, and volatility. BitMEX offers tiered fee discounts based on the rolling 30-day Average Daily Volume (ADV) and the amount of BMEX tokens a user stakes. 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.
- These contracts are margined and settled in USDT, and they allow up to 2x leverage.
- While BitMEX is one of the world’s biggest and longest-standing derivative exchanges, it is important to familiarize yourself with the company’s services before investing in crypto on the platform.
- The exchange’s past legal issues and controversies should be considered, but its global accessibility and liquidity make it a significant player in the crypto derivatives space.
We were convinced that BitMEX deserves high marks for derivatives liquidity, execution, and professional-grade tools. Notably, BitMEX has not suffered any widely reported catastrophic hacks of customer funds, and it operates a security model centered on multi-signature cold storage and strict withdrawal procedures. Because of this history, BitMEX does not allow U.S. residents to use the platform, and geo-fencing measures are more robust than in the past.
Spot trading fees
The pros of BitMEX include high leverage, advanced trading features, deep liquidity, low fees, robust security measures, an API for algorithmic trading, and a testnet for practice trading. BitMEX (Bitcoin Mercantile Exchange) is a cryptocurrency exchange and derivative trading platform founded in 2014. However, it has expanded to include spot trading for a limited selection of cryptocurrencies, as well as crypto purchasing with fiat. This might sound like a disappointment; however, there are other cryptocurrency trading platforms that you can use in the US, like Kraken or Coinbase. A veteran crypto derivatives-focused exchange with a strong security record. BitMEX is a well-known cryptocurrency derivative trading platform that was founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed.
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That said, when you deal with crypto derivatives trading, you’re not really trading crypto coins, only exchange derivatives. It’s quite risky because the cryptocurrency market is so volatile, and you can never know when prices will increase or drop instantly. Today, the BitMEX cryptocurrency derivatives platform is owned by HDR Global Trading Limited, registered in Seychelles (an island country in the Indian Ocean), with offices worldwide.
By clicking on the link provided below, you can access a special promotion that enhances your introduction to BitMEX, ensuring a favorable start to your experience on the platform. Instead, he faced charges related to violating banking laws, including failure to guard against money laundering and allowing Americans to trade on BitMEX without meeting certain obligations. Hayes, known for his sharp and handsome image, became a notable figure in the crypto industry.
GNcrypto does not take responsibility for any mistakes, omissions, or financial losses resulting from reliance on this information. The material on bitmex review GNcrypto is intended solely for informational use and must not be regarded as financial advice. We use a weighted, category-based model, collect standardized data from each platform (public pages + hands-on testing), and convert that into a 1.0–5.0 star score in 0.1 increments. Its lower scores come from a narrow spot offering, lack of mainstream fiat channels, and the lingering weight of past regulatory actions.
These are standard fees BitMEX charges when you buy or sell a crypto asset on the platform. So, whether you’re into market making, arbitrage, or momentum strategies, the platform gives you all the tools to automate your trades. With isolated margin, your risk is limited to the margin for that trade. Unlike perpetual contracts, each futures contract has a predetermined expiration and settlement date, and once it expires, the position automatically closes at the settlement price. This makes perpetuals ideal for intraday and swing traders who value control, liquidity, and speed.
Crypto deposits are typically free, while withdrawals incur standard network fees. That is less a BitMEX-specific issue and more a structural feature of perpetual swaps. Perpetual swaps on BitMEX use funding payments between longs and shorts to keep contract prices anchored to spot. Exact rates depend on the contract type and your volume tier, but in practice they are in line with other tier-one derivatives venues. Overall, BitMEX works best as a specialized tool, not as a universal exchange for everyone. 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.