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 4.66 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.
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- 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 |
| 💵 Deposit / 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: |
Spot: 0,1%-0,1% Futures: 0,02%-0,075% |
| 🔧 Instruments: | 79 supported coins, Futures, Perpetual contracts, Fiat. |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order 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.
BitMEX Key Parameters Evaluation
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Regulation and safety
With a 5.75/10 score, BitMEX demonstrates a moderate level of security and regulation. While the platform meets basic safety standards, it may not offer the same level of protection as higher-rated exchanges.
- Cold wallet storage
- 2FA
- No successful hacks history
- Investor protection fund
- Not tier-1 regulated
- Not U.S regulated
- No facial recognition
- Not government-regulated
BitMEX Security Factors
We also compared BitMEX against the top two competitors with the highest scores in our overall ranking based on the most critical security indicators.
| BitMEX | OKX | Kraken | |
| Tier-1 regulation | - | No | Yes |
| Government-regulated | No | Yes | Yes |
| Investor protection fund | Yes | Yes | No |
| 2FA | Yes | Yes | Yes |
| Facial recognition | No | Yes | No |
| Cold wallet storage | Yes | Yes | Yes |
| Successful hacker attacks | No | No | No |
Is BitMEX a regulated crypto exchange?
BitMEX is not currently regulated by any government authority, which is still a common occurrence in the cryptocurrency industry. While this doesn't automatically mean BitMEX is unreliable, government-regulated exchanges are generally considered more reliable due to the added oversight and client protection they offer.
Is verification (KYC) mandatory at BitMEX?
Yes, KYC verification is mandatory at BitMEX. You will need to complete the verification process before you can open an account and access the platform's full range of services.
In which countries is BitMEX available?
BitMEX complies with international sanctions and regional restrictions. Services are limited or unavailable in the following countries: Iran, Islamic republic, Bahrain, Palestine, Jordan, Iraq, Qatar, Kuwait, Lebanon, Libyan Arab Jamahiriya, Oman, Syrian Arab Republic, Tunisia, Yemen, Botswana, Tanzania, United Republic Of, Zimbabwe, Namibia, Ethiopia, Jamaica, Zambia, Hong Kong, Afghanistan, Trinidad and Tobago, Brunei, Nepal, Serbia, Somalia, Cameroon, Rwanda, Slovenia, Eswatini, Croatia, Mongolia, Burma, Montenegro, Cambodia, Taiwan, Mozambique, Madagascar, Dominican Republic, Albania, Mauritius, Puerto Rico, Cote d'Ivoire, Laos, Macedonia, Papua New Guinea, Costa Rica, Luxembourg, Malta, Ecuador, Bahamas, Haiti. For the most up-to-date information on regional availability, please contact BitMEX support.
Is BitMEX available in the USA?
Yes, BitMEX is available in the USA. However, availability may vary by state due to local regulations. We recommend checking the official website or contacting support for up-to-date information specific to your location.
BitMEX commissions and fees
BitMEX received a 7.95/10 score for its trading fees. While BitMEX is not the cheapest crypto exchange, the fees remain reasonable and competitive within the market.
- Futures fees below industry average
- Spot fee below industry average
- No deposit fee
- No Withdrawal fee
- P2P fee applied
What are BitMEX trading fees?
We analyzed BitMEX’s crypto fees and compared them to the top two competitors, both of which hold high average positions in our rankings. To establish a comprehensive benchmark, we also calculated the average fee score based on an evaluation of over 100 cryptocurrency exchanges.
BitMEX trading fees vs competitors
| BitMEX | Binance | Bybit | Industry average | |
| Spot, maker fee (%) | 0,1 | 0,1 | 0,1 | 0.15 |
| Spot, taker fee (%) | 0,1 | 0,1 | 0,1 | 0.194 |
| Futures, maker fee(%) | 0,02 | 0,02 | 0,02 | 0.024 |
| Futures, taker fee(%) | 0,075 | 0,05 | 0,055 | 0.053 |
What are BitMEX deposit and withdrawal fees?
| Deposit fee, % | 0 |
| Withdrawal fee, % | 0 |
Does BitMEX offer P2P trading?
Yes, BitMEX offers a P2P trading platform. We have provided the fees for these transactions and compared them with competitors.BitMEX P2P Fees
Deposit and withdrawal
BitMEX received a 7/10 rating for its deposit and withdrawal services. While BitMEX covers basic payment options, the platform lacks some widely used methods that could improve user flexibility.
- Many cryptocurrencies for deposits and withdrawals
- No withdrawal fee
- P2P for flexible transfers
- Bank cards accepted for instant deposits
- Bank transfers not available
- No PayPal option
Deposit and withdrawal options
BitMEX supports the following deposit and withdrawal options: Bank card, Crypto, Google Pay, Apple Pay.
BitMEX Deposit and withdrawal options vs competitors
| BitMEX | OKX | Kraken | |
| Bank transfers | No | No | Yes |
| Bank card | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| PayPal | No | No | Yes |
What is BitMEX minimum deposit?
The minimum deposit at BitMEX is 0,0001 USD/USDT or 0,001 BTC. The minimum trade size is 0,1 USD/USDT, which also serves as the minimum amount required to start trading on the platform.
BitMEX minimum deposit vs competitors
| BitMEX | OKX | Kraken | |
| Minimum deposit, USD or USDT | 0,0001 | 10 | 10 |
| Minimum deposit, BTC | 0,001 | 0,0005 | 0,0001 |
| Minimum trade amount, USD/USDT | 0,1 | 0,00001 | 1 |
Does BitMEX support fiat money?
BitMEX supports fiat currency trading and account funding. The following fiat currencies are accepted:
Supported coins & markets
BitMEX received a score of 5.5/10 in this category, reflecting a solid selection of tradable assets and markets. BitMEX supports 79 cryptocurrencies and basic trading types, although some advanced features or asset diversity may be limited compared to leading exchanges.
- Fiat currencies supported
- Crypto futures available
- Staking available
- Crypto options not available
- Yield farming not available
BitMEX supported coins and markets vs competitors
We compared BitMEX with leading exchanges in terms of supported coins, NFT access, and derivatives like futures and options to help users assess the platform’s product range and trading flexibility.
| BitMEX | OKX | Kraken | |
| Supported coins | 79 | 329 | 278 |
| Futures/Perpetual contracts | Yes | Yes | Yes |
| Options | No | Yes | No |
| NFTs | No | Yes | Yes |
BitMEX passive income options vs competitors
We also compared BitMEX with top competitors in terms of passive income opportunities such as staking, farming, and copy trading, to help users evaluate the platform’s earning potential beyond regular trading.
Trading apps & tools
BitMEX received a score of 6.55/10 for offering a solid set of tools. The apps are intuitive and reliable, though certain advanced features remain limited or could benefit from further development.
- Android app score 4,3
- Mobile indicators allowed
- App data protection with 2FA
- Advanced tools and automation with API
- No Face ID
- No standalone desktop access
- No access to TradingView features
Trading apps
BitMEX provides web and mobile apps for both Android and iOS users, with an average rating of 3,1 on the App Store and 4,3 on Google Play. Our review focused on core features important to traders, particularly trading functionality and security tools, to evaluate how convenient and safe the BitMEX platform is for mobile use.
| BitMEX | Bybit | |
| 2FA | Yes | Yes |
| Face ID | No | Yes |
| Mob Indicators | Yes | Yes |
| Alerts | Yes | Yes |
| Advanced Orders | Yes | Yes |
| Trading with bots | No | Yes |
| API | Yes | Yes |
| Extra trading platforms | No | MT4 |
Does BitMEX offer a desktop app?
No, BitMEX does not currently offer a desktop app. However, users can access the platform via its web version, which provides more comprehensive functionality compared to the mobile apps.
Does BitMEX offer advanced charting with TradingView integration?
No, BitMEX does not currently support TradingView integration. However, it provides its own built-in charting tools with basic indicators and timeframes.
Contacts
| Foundation date | 2014 |
|---|---|
| Official site | bitmex.com |
| Contacts |
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