BitMEX Review 2024
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
- 0.0001 XBT
- Ninja Trader
- All contracts are in Bitcoins
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
- 0.0001 XBT
- Ninja Trader
- All contracts are in Bitcoins
Our Evaluation of BitMEX
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
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.
- 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.
- 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
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.
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Commissions and fees
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 | |
|
$6 | |
|
$20 |
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.
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.
User Satisfaction