These platforms share the commonality of not being available in the United States and providing a variety of leverage options. In an effort to gather diverse perspectives on BitMEX, I explored Trustpilot, and to my surprise, the reviews were not particularly favorable. BitMEX provides applications for both Android and iOS devices, allowing users the flexibility to trade on the go. As users accumulate larger positions, there is a potential risk to other participants on the exchange, as they might face a deleveraging event if the position cannot be entirely liquidated. Furthermore, BitMEX primarily offers crypto-to-crypto trading, meaning there are no direct fiat pairs like BTC/USD. In fact, it includes perpetual contracts with a leverage of up to x100, a scenario that might not be advisable for beginners.
At VIP 5, spot makers and takers have to pay a 0.045% trading fee. So, as you can see, BitMEX isn’t just about derivatives trading anymore. One of the reasons mentioned in several user BitMEX reviews was the fact that withdrawals and deposits could only be made in Bitcoin. If you want to practice trading on BitMEX TestNet, you’ll need to create a separate account from BitMEX.com.
All reviews, either positive or negative, are accepted as long as they’re honest. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. US traders, on the other hand, should check out Kraken or Coinbase.
- This BitMEX review may be extensive, considering the comprehensive analysis of its essential aspects.
- Most providers can be categorized as “exchanges” and “brokers”.
- BitMEX is primarily a derivatives trading platform, allowing users to trade various crypto instruments, including leveraged contracts (up to x100), perpetual contracts, and other derivative products.
- 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.
- However, since multiple recommended exchanges offer similar services, in this BitMEX review, I’ll try to reveal what makes it stand out.
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This rating describes our assessment of the overall scope of the product and how many options, features and tools are offered to the user. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. In some cases, international exchanges have a special insurance bitmex review policy that covers a certain portion of the assets instead of a deposit guarantee.
- Furthermore, BitMEX primarily offers crypto-to-crypto trading, meaning there are no direct fiat pairs like BTC/USD.
- Overall, BitMEX is a powerful platform for those familiar with crypto trading but has challenges for newer users.
- For less experienced users, BitMEX also offers trading bots and a built-in copy trading feature that lets beginners mirror the strategies of more seasoned traders.
- The goal of our reviews is to provide our readers with the most objective and unbiased overviews of available platforms for spot crypto trading.
BitMEX Customer Service
To give you a quick look into the trading platform, the table below contains information about the BitMEX exchange, including the number of supported cryptocurrencies, its best features, and more. In 2014, he established BitMEX, a cryptocurrency derivatives trading platform that became well-known for offering high leverage options. Traders can exchange cryptocurrencies at the current market price, facilitating straightforward transactions without the use of leverage or derivatives. The goal of our reviews is to provide our readers with the most objective and unbiased overviews of available platforms for spot crypto trading. He tests and scrutinizes exchanges so you don’t have to, offering reviews and articles that newbies and seasoned traders alike find invaluable.
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BitMEX offers crypto-margined futures contracts that allow traders to go long or short on a range of cryptocurrencies. 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. Fees are a core part of any BitMEX exchange reviews, and BitMEX positions itself as competitively priced for both spot and derivatives – especially for users who provide liquidity or trade in size. Still, the platform’s core focus remains on leveraged derivatives, making it more suitable for experienced traders seeking advanced tools rather than those simply looking to buy and hold crypto. It allows users to practice margin trading with leverage completely risk-free, as well as try other amazing features that the platform offers. Such features include futures contracts, perpetual contracts, margin trading with up to 250x leverage, and more.
Customer Reviews
Then, transfer funds from your external wallet or exchange them at this address. Go to your account wallet or click “Deposit” at the top right corner of your BitMEX dashboard. Once you’ve added this information, click “Sign Up.” On the next page, choose your account type (available options are individual and corporate).
As a platform built mainly for experienced traders, the best features of BitMEX are derivatives trading, margin trading, BitMEX trading bot, integration with TradingView, and quick crypto conversions. BitMEX is a leading crypto exchange famous for its advanced trading features, pristine security track record and high leverage options, making it a preferred choice for experienced traders. BitMEX is primarily a derivatives trading platform, allowing users to trade various crypto instruments, including leveraged contracts (up to x100), perpetual contracts, and other derivative products.
BMEX Token Discounts
We receive commission from some companies mentioned in our reviews when you make a transition or perform a target action on their platform. For a derivatives exchange with large open interest, that track record is meaningful, though as always in crypto there are no guarantees. 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
BitMex is a widely-respected exchange that provides futures and perpetuals for a variety of cryptocurrency assets, thereby allowing users to speculate on price movements. While the terminal is not entirely innovative and beginning traders won’t find it intuitive, those knowing how to navigate crypto platforms and exchanges should be able to do just fine. BitMEX is a top choice for experienced traders, offering advanced features such as 100x leverage on Bitcoin and low fees. When it comes to security, BitMEX is one of the safest cryptocurrency derivatives platforms.
For less experienced users, BitMEX also offers trading bots and a built-in copy trading feature that lets beginners mirror the strategies of more seasoned traders. The platform is clearly built for active traders who already understand margin and liquidation risk. BitMEX is a Seychelles-incorporated crypto exchange launched in 2014 and best known for its Bitcoin perpetual futures with very high leverage. 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. It’s a derivatives-focused crypto exchange with deep liquidity on leveraged products. The customer support of this exchange is off to an excellent start but mixed customer reviews may have you end up looking for alternatives.
Without passing KYC, access to trading, deposits, and withdrawals is restricted. Today, users must provide identity documents and personal information to meet global compliance standards. I’m studying leverage in different kinds of economic business for a university paper. Bitcoin is The Best and Most Reliable Crypto TM out there, it is a smart move of the company to keep itself restricted to BTC when receiving or withdrawing from the platform. Leave your genuine opinion & help thousands of people to choose the best crypto wallet.
Does BitMEX require to pass KYC?
In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation. Especially for beginners, the first contact with the crypto world can be overwhelming. It is not only the amount of fees that can differ, but also the type of fees. This rating describes our assessment of the fee structure of a stock exchange or broker.
Key Features, Markets and Tools on BitMEX
Trading with high leverage comes with great responsibility. 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. After you make an order, trade, deposit or withdrawal, BitMEX makes a full risk assessment on each of them. So, they are not traded, staked, lent, or used otherwise on behalf of the company.
Can I only trade derivatives on BitMEX?
Getting back to user funds on BitMEX, it’s also worth noting that the assets are segregated at the account level and ring-fenced from company assets. Users really appreciate them, not only due to security but also usability and design. It’s always a better idea to keep some of your crypto separately. What is more, the exchange keeps all the addresses in a cold wallet. BitMEX features a multi-signature deposit and withdrawal system that will require you to undergo multiple verification methods to complete any of these actions. BitMEX seems to be a truly secure platform that takes your safety and privacy super seriously.
BitMEX, founded in 2014 by Arthur Hayes—the youngest African American crypto billionaire to date, who transitioned from an investment banking career—provides a platform for precisely these activities. However, such referral partnerships do not affect our editorial impartiality in compiling reviews. Our goal is not to tell you what to trade, but to help you understand what trading on BitMEX actually feels like in 2025. 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.
