BitMEX Fees and Minimum Deposit - TU Expert review
After considering a crypto exchange’s security, examining its fees is the next crucial step. Lower fees translate to higher potential profits. Newcomers to crypto trading may also want to consider the minimum deposit required to start trading, as they might prefer to begin with a smaller investment.
Traders Union analysts have assessed BitMEX fees and minimum deposit requirements to help prospective crypto traders make informed decisions.
Short introduction of 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.
BitMEX Commissions and Fees
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 |
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Crypto market:
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Spread – the difference between the buy and the sell price of an asset.
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Commission per lot.
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Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
Why is it important to consider the minimum deposit at a cryptocurrency exchange?
Accessibility: The minimum deposit helps traders determine if they can afford to start trading on an exchange.
Risk Management: Exchange-set minimum deposits ensure traders have sufficient funds to cover potential losses and fees, preventing financial overextension.
Platform Suitability: The minimum deposit amount can be an indicator of the exchange’s target audience and trading volume, aiding traders in selecting a platform aligned with their goals.
Cost Considerations: Assessing minimum deposit requirements helps traders account for trading expenses.
Are the fees and minimum deposit requirements at BitMEX suitable for beginners?
Analysis of BitMEX shows that the broker has a rather high minimum deposit. It could pose a problem for traders, who are only starting their path in trading. Nevertheless, the fees are low. Therefore, the broker will be a good choice for professional traders.
FAQs
Is there a dependence between the fees and the deposit amount?
If a broker offers several account types, there is often a dependence. The more money you deposit, the higher the level of your account will be, and, accordingly, the lower the fees.
Can you reduce the fees?
As a rule, the fees depend on the trading account type. Also, companies may have special offers.
Can you cover the fees with bonuses?
Yes, it is possible. Some brokers offer a welcome or deposit bonus that can be used to cover the fees.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.