BitMEX Review 2021

BitMEX Review 2021
Davis J.
Robertson A.
January 2021

4

Position
in rating

Trading terminals:

Ninja Trader
4

Position in rating

9.3/10
Overall rating

Trading terminals:

Ninja Trader

Summary of BitMEX Trading Company Crypto Exchange

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.

💰 Account currency: XBT
🚀 Minimum deposit: 0,0001 XBT
⚖️ Leverage: Up to 1:100
💱 Spread: From 0
🔧 Instruments: Cryptocurrencies, US dollar
💹 Margin Call / Stop Out: No
Attention!

We only work with accounts opened through or linked to the Traders Union website.

👍 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.

Overall

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.

Visit BitMEX

Geographic Distribution of BitMEX Traders

BitMEX Latest Comments for 2021

0
1
8

Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of BitMEX published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

You can work with BitMEX. But you need to take into account various points that you don't even know right away. And newcomers have nothing to do here.

Problems happen when trading. Not so long ago, quotes fell on BitMEX on xrp. Many traders have suffered losses. But it is important that there was no such drop in xrp on other exchanges. So decide for yourself whether to trade with BitMEX or not.

Trading on BitMEX is very difficult. Better try on other exchanges, here trading is very similar to a casino. Lucky not lucky. Bad luck - you will lose everything. If you're lucky, you can double your capital.

This exchange looks a lot like a normal troubled or questionable company. BitMEX give a lot of leverage for the client to lose their money. They don't even hide that they make money on liquidations. I opened a buy position, but it was immediately closed to me in the red.

The BitMEX exchange is not intended for the exchange and withdrawal of cryptocurrency. This is a purely exchange for trading. They take quotes from different exchanges. But this is where the problem lies. BitMEX can take quotes from specific fraudulent resources. And traders lose money on such quotes.

Don't think about taking X100 leverage on BitMEX. I will tell you that this feature is designed for inexperienced beginners. But I read reviews that even more experienced traders lose money. BitMEX is given a lot of leverage, but this leads to instant losses.

With a strong market movement, the BitMEX exchange does not allow you to open or close a deal. The platform writes "The system is currently overloaded". This topic has long been raised by customers. But so far nothing has changed.

2 >

Expert Review of BitMEX

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.

Antony Robertson

Traders Union
Financial Analyst

Analysis of the Main Features of this Crypto Exchange

9.3

Overall rating

9

/10

Execution of orders

9.6

/10

Investment instruments

9.4

/10

Withdrawal speed

9.2

/10

Customer Support work

8.9

/10

Variety of instruments

9.7

/10

Trading platform

Dynamics of the Popularity of BitMEX
in 2020 among the Users of the Traders Union

Logo TU
20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
Jan.
Feb.
Mär.
Apr.
Mai.
Jun.
Jul.
Aug.
Sep.
Okt.
Nov.
Dez.

Investment Programs, Available Markets, and Products of the Crypto Exchange

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 [email protected] or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal 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.

Rebate and Discount Programs of the Traders Union for BitMEX

You can register on the cryptocurrency exchange directly or through the Traders Union website using the affiliate link. The Traders Union intermediary doesn’t impose any obligations or restrictions but allows the return of a part of the commission (rebate). Registration with Traders Union is free.

Information

At the moment, the following partnership agreement is valid between Traders Union and BitMEX: the cryptocurrency exchange pays the Union 20% of the commission from each transaction. 80% of this amount is passed along to Traders Union clients.

Example. You open a trade on BitMEX and pay the platform a commission of 1 XBT. The exchange returns 20% of this amount, i.e., 0.2 XBT to the Traders Union. You get 80% of the refund amount, i.e., 0.16 XBT. This is your real savings on commission costs and extra profit.

Try it!  Try it!

Trading Conditions for BitMEX Users

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.

0.0001 XBT

Minimum
deposit

1:100

Leverage

24/7

Support

Ninja Trader
💻 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
💱 Spread: 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 Commissions & 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 Spread (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
BitMEX $0.07 Low
Binance $6 Medium
ByBit $20 High
BitMEX
$0.07
Binance
$6
ByBit
$20
Conclusion

The BitMEX cryptocurrency exchange offers rewarding commissions that allow you to trade comfortably with major digital currencies. Registration on the exchange using the Traders Union affiliate link will additionally reduce commission costs.

Contacts

Official site

Tags:

BitMEX www bitmex.com www bitmex com bitmex.com bitmex com Bitcoin Mercantile Exchange

The Oldest Reviews of this Crypto Exchange

Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of BitMEX published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

There is no commission for deposits at BitMEX. But there is a conclusion. There is also a commission when opening and closing a trading order. It all depends on the type of contract and what tokens are traded. But I will say that the fees at BitMEX are considerable.

BitMEX is well known among cryptocurrency traders. But there are nuances here. You are offered a large leverage X100. However, when opening a deal with such a leverage, the client's deposit is practically drained. So see for yourself.

With a strong market movement, the BitMEX exchange does not allow you to open or close a deal. The platform writes "The system is currently overloaded". This topic has long been raised by customers. But so far nothing has changed.

Don't think about taking X100 leverage on BitMEX. I will tell you that this feature is designed for inexperienced beginners. But I read reviews that even more experienced traders lose money. BitMEX is given a lot of leverage, but this leads to instant losses.

The BitMEX exchange is not intended for the exchange and withdrawal of cryptocurrency. This is a purely exchange for trading. They take quotes from different exchanges. But this is where the problem lies. BitMEX can take quotes from specific fraudulent resources. And traders lose money on such quotes.

This exchange looks a lot like a normal troubled or questionable company. BitMEX give a lot of leverage for the client to lose their money. They don't even hide that they make money on liquidations. I opened a buy position, but it was immediately closed to me in the red.

Trading on BitMEX is very difficult. Better try on other exchanges, here trading is very similar to a casino. Lucky not lucky. Bad luck - you will lose everything. If you're lucky, you can double your capital.

Author of this Review

BitMEX broker’s review prepared by

John Davis

Traders Union Author and Analyst

John Davis is a Financial and Economic Analyst working with the Traders Union since 2016. During this time, he has written more than 100 analytical articles on technical and fundamental analysis, reviews of financial companies and has developed more than 10 proprietary trading systems. John's motto is to help everyone go from a novice to a professional trader.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

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FAQs

Do reviews by traders influence the BitMEX rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about BitMEX you need to go to the broker's profile.

How to leave a review about BitMEX on the Traders Union website?

To leave a review about BitMEX, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about BitMEX on a non-Traders Union client?

Anyone can leave feedback about BitMEX on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

Why is it more profitable to work with BitMEX through Traders Union?

Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same.

Traders Union Recommends: Choose the Best!