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BitMEX Review 2024

4.32/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Minimum deposit:
  • 0.0001 XBT
Trading platform:
  • Ninja Trader
Trading features
  • All contracts are in Bitcoins
Updated:
4.32/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Minimum deposit:
  • 0.0001 XBT
Trading platform:
  • Ninja Trader
Trading features
  • All contracts are in Bitcoins
310*
people picked this broker on the Traders Union website over the last 3 months
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BitMEX isn't available in United States
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Our Evaluation of BitMEX

4.32/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
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BitMEX is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 4.32 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by BitMEX clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.

BitMEX is a popular cryptocurrency exchange with comprehensive cryptocurrency trading facilities. The innovative analytical toolkit, interface tuning agility, high leverage, and a profitable affiliate program have made it one of the most popular cryptocurrency exchanges in the genre.

Brief Look at BitMEX

The BitMEX brokerage is a peer-to-peer (P2P) trading platform for cryptocurrency and other digital market assets. It is part of the HDR Global Trading Limited holding group. The company is headquartered in Seychelles with global offices. This is one of the largest cryptocurrency exchanges, with a trading volume of over $3 billion (60 thousand BTC) per day. The XBTUSD Perpetual Contract is the main exchange product and the most traded in the industry. BitMEX is expanding its offer with new perpetual contracts, traditional futures, and quantum futures instruments.

Advantages of trading with BitMEX:
  • High-trade value and liquidity level;
  • simplified registration procedure;
  • margin trading with leverage up to 1:100;
  • you can use short positions;
  • world-class security system by Amazon Web Services;
  • high speed transfer speed for fund replenishment and withdrawal;
  • powerful analytical and reference system integrated into your personal account.
Disadvantages of BitMEX:
  • funds deposits and withdrawals are only in Bitcoins;
  • the trading terms (e.g., the “liquidation trigger” is the index marking price) may be unfamiliar to some users;
  • the risk of serious losses due to the high leverage abuse.

TU Expert Advice

Anton Kharitonov

Financial expert and analyst at Traders Union

BitMEX is the leader of the global cryptocurrency exchange market. The exchange was created in 2013 when the popularity of digital currencies was not even close to its first peak. Today, over $3 billion of Bitcoins are traded here each day, and this figure is growing. This is one of the key criteria in assessing the demand for a cryptocurrency exchange and the adequacy of its trading conditions.

The exchange is constantly accelerating. For example, it integrated with Sierra Chart for charts and trading in 2018. BitMEX recently conferred with NinjaTrader and now the full set of BitMEX market data is supported in the 8th version of the trading terminal. Moreover, the site provides detailed instructions for all integrations in a localized form.

Important safety note. Today BitMEX is the only cryptocurrency exchange that requires multiple digital signatures to complete a transaction. All addresses are multi-signing, and all funds are stored strictly in offline storage. No data on wallets and transfers are stored in the cloud. This is a perfect security system and it cannot be hacked.

BitMEX Summary

Your capital is at risk. Cryptocurrency trading can be extremely risky. Cryptocurrency trading can lead to large and immediate financial losses. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.

💻 Trading platform: Proprietary platform, integration with NinjaTrader is possible (up to 8th edition)
📊 Accounts: Standard
💰 Account currency: XBT
💵 Replenishment / Withdrawal: Bank cards and accounts, cryptocurrency wallets, third-party services
🚀 Minimum deposit: 0,0001 XBT
⚖️ Leverage: Up to 1:100
💼 PAMM-accounts: No
📈️ Min Order: No
💱 Commission: From 0
🔧 Instruments: Cryptocurrencies, US dollar
💹 Margin Call / Stop Out: No
🏛 Liquidity provider: No
📱 Mobile trading: Yes
➕ Affiliate program: Yes
📋 Orders execution: n/a
⭐ Trading features: All contracts are in Bitcoins
🎁 Contests and bonuses: n/a

BitMEX offers one of the lowest commissions in the segment due to large trading volumes and high liquidity. However, to obtain an objective assessment, it is fair to correlate the target cryptocurrency exchange data with the industry average data.

User Satisfaction

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suhwazri
14 weeks ago

BitMEX offers advanced trading features and robust security measures, making it a preferred choice for experienced traders. However, the platform's complexity and occasional reliability issues may deter novice users, and improvements in customer support could enhance the overall user experience.

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tashana4
2 years ago

I have been trading cryptocurrencies for more than 5 years, and now, when choosing a cryptocurrency trading platform, I focus on several things: trading volume, leverage, and the availability of high-quality analytics. According to these requirements, BitMEX suited me. Leverage provides opportunities to increase earnings, albeit with high risks. I will not recommend the exchange to beginners: the interface is complex, it is easier to understand it when you already have knowledge about the market. There are no ways to replenish the deposit and withdraw earnings in fiat currencies. I won't say that I think it's a problem. It seems strange to me to trade cryptocurrency, but not use cryptocurrency wallets, but the fact remains: there is no input and output in fiat on BitMEX.

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hameed179
2 years ago

I recently switched to the BitMEX platform. I was interested in the possibility of margin trading with leverage up to 100x and the high liquidity of this crypto exchange.
From personal experience, I can say that the execution of transactions is phenomenal. Short positions go especially well (due to market volatility). I was overjoyed with the cryptocurrency platform and a powerful analytical and reference system, which is integrated directly into the interface of the personal account. It helps to navigate the market situation a mile a minute and make a well-thought-out decision.

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trumpleen
2 years ago

I’m walking on air since my first day of working with BitMEX because this crypto exchange has a customer-oriented policy. The only drawback that I noted is the slow-as-snails support. There is no telephone support, and it is not very convenient to communicate through the mail.
The pros are quite impressive: security at the level of Amazon Web Services, flexible leverage, excellent analytics, and a vast variety of assets. BitMEX has an English-language version of the interface, so you can figure out all the nuances in a heartbeat and customize it for yourself.

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riyanto2012
2 years ago

I registered on the BitMEX on the recommendation of a friend. He started trading cryptocurrency way before me, so he was able to compare platforms in terms of conditions, reliability and give sound advice. The registration procedure is as clear as a day and took just a few minutes. The support is responsive. They are always agog to come up with the solution for emerging issues.
I would like to point out some minor flaws: there are serious losses when leverage is used improperly. Take the time to learn to work with leverage and conditions.

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kamil_miz
2 years ago

I agree with the positive reviews regarding BitMEX. I like the fact that the company does not limit traders in terms of strategies, you can experiment as much as you like. Given the volatility of digital currencies, it can be smooth trading for you. If you thoroughly analyze the market and orient yourself properly, you might hit the jackpot. By the way, pay attention to the fact that the commissions here differ, in contrast to the selected instrument. The BTC fees are the lowest for both the taker and the maker. My earnings with BitMEX since the beginning of this year have already amounted to more than 30 thousand dollars. I think this is an excellent result.

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adamagam
3 years ago

I have been cooperating with BitMEX for several years now and I’m one happy camper. Of course, there are minor flaws, but let’s be honest, no company is free of drawbacks? I am ready to put up with the fact that the support here does not always promptly answer the questions posed, or there are not humongous leverages for Bitcoins. The most important thing is that the platform works stably, does not set high commissions for transactions, and honestly pays your money. Please note that the crypto exchange does not deal with fiat (except for the market), but it turned out to be even convenient. Deposits/withdrawals in Bitcoins aren’t conducted at a snail’s pace.

Commissions and fees

Information
The BitMEX cryptocurrency exchange fees depend on several dynamic factors. They differ for perpetual contracts, futures, and quantum futures. Factors affecting the size of the commission for a specific instrument are: leverage, maker, taker, financial longs and shorts, and funding interval. The exchange doesn’t take a commission for funds deposit/withdrawal.
Account type Commission (minimum value) Withdrawal commission
Standard From 0.075% per market order No

Moreover, the Traders Union specialists have carried out a comparative analysis of BitMEX trading commissions with competing cryptocurrency exchanges so that you can visually compare the trading terms in the exchanges presented below.

Broker Average commission Level
$0.07
Low
$6
Medium
$20
High

Investment Options

The BitMEX cryptocurrency exchange doesn’t provide an opportunity for generating passive income. The company does not have any investment programs and all services are focused on generating income directly from the purchase/sale of the cryptocurrency asset selected.

Important!

If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.

BitMEX affiliate program:

BitMEX has a standard program for attracting referrals. The user gets a part of the commission from the transactions of the users attracted. The number of payments (part of the commission) depends on the number of referrals and their trading volume, for example: 

  • over 0XBT – 10%;

  • over 1,000XBT– 15%;

  • over 10,000XBT– 20%.

Referrals get a temporary discount on commissions for their trades. Payments are made daily at 12:00 UTC.

Latest BitMEX News

19.03.2024
Mirjan Hipolito
BitMEX to investigate the abnormal crash of BTC to $8,900
​Cryptocurrency exchange and crypto derivatives trading platform BitMEX has launched an investigation into the anomalous phenomenon with the price of
10.01.2024
Mirjan Hipolito
BitMEX project in jeopardy: Technical problems prevent delivery of Bitcoin to the moon
​Cryptocurrency exchange BitMEX, in a joint project with technology company Astrobotic, announced that it would send 1 "physical" Bitcoin to the moon. It
27.12.2023
Mirjan Hipolito
BitMEX sees SEC policy as threat to crypto ETFs
​Key figures in the crypto industry have revealed the potential consequences of the Securities and Exchange Commission's (SEC) rulings on the creation
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