BitMex Review 2023 Is It Still Trustworthy and Safe Trading Platform?

If you’ve used other trading platforms, you will agree that it is not beginner-friendly while the interface is intuitive. The opinions expressed on this Site do not constitute investment advice and independent financial advice should be sought where appropriate. All our articles are fact-checked by a relevant professional with expertise in that area of finance and we regularly update guides as necessary.

While this may not be a direct line to BitMEX, it’s still really cool to be able to interact with other Bitcoin traders from within the exchange. All derivatives contracts on BitMEX are collateralized and settled in BTC or USDT, depending on the instrument at hand. In https://forex-reviews.org/ case you are an US resident , it isn’t possible to trade on this platform. This is applies for when you are registering, but also when you are trading on the platform. Your account will get blocked when you accidentally log in on your account from the United States.

The fees round things off to make the exchange an attractive all-around package. Support is offered via an email ticket, which is pretty standard for the industry. Simple inquiries and issues can be resolved by BitMEX staff in the “Trollbox”, a public chatbox where traders can also chat with each other.

Use ANY other exchange and DO NOT EVER USE MORE THAN 10x Leverage! While we were trading, there were hundreds of situations where the system was overloaded and sometimes for multiple minutes. Once you try to start trading seriously, you will recognice that there are lots of shady things. Learn everything you need to know about Bitcoin in just 7 days. An announcement box keeps users up to date with any updates and issues.

It runs best-in-class APIs to provide high-quality trading knowledge and boost investor confidence. BitMEX exchange offers precision to people by helping them create a million-dollar trading account. In short, you don’t trade actual BTC for USD or other cryptocurrencies but trade actual BTC for Bitcoin & altcoin contracts that derive its value from actual BTC & altcoin assets. These contracts are called derivatives.We will talk about the types of contracts further in this article. But then I learned about leveraged contracts, margin trading, and derivatives.

Best Crypto Copy Trading Platforms

Please be aware that this might heavily reduce the functionality and appearance of our site. Yes, BitMEX does offer negative balance protection.Consider the following instance – you trade margin cross, and your account’s balance is used to cover any potential loss. As mentioned earlier, BitMEX does not require any verification, and there are no account levels, either. The minimum amount is not fixed and varies from trade to trade. In summary, all you need is an email address, consent that you are over 18 years old, and confirmation that you don’t live in the US to use BitMEX.

• Inexperienced investors should probably steer clear of BitMEX as its sophisticated trading dashboard and advanced financial products are likely to overwhelm new crypto buyers.
• The fee system employed by BitMEX is arguably just as complex as the derivative products it offers.
• Beginners are able to become familiar with using the exchange and learn how to trade cryptocurrency with leverage using the BitMEX paper trading account.
• The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from the actual provider’s website.

The HDR Global Trading Limited-owned BitMEX only supports ten cryptocurrencies for spot trading, although it offers a more extensive range of futures contracts. However, BitMEX is exclusively a crypto-only trading platform, with fiat currency only supported through third-party crypto-purchasing gateways. Leading cryptocurrencies such as BTC, XRP, ETH, BCH, LTC, BCH, and LINK can be traded easily on BitMEX. For most users, BitMEX is the only exchange to offer low fees on deposits and withdrawals. The platform is one of the best crypto exchanges to provide leverage up to 100x. The trading fee on BitMEX starts at 0.025% and goes up to 0.0075% of the trading amount.

Currency support

Other Point is that once I see an opportunity I get “order submission errors” and missing out on good trades. Although we take a neutral stance, we also want to be open and provide this information so you can make an informed bitmex review decision about engaging with this company. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.

The site owner is not the owner or the seller of the services described on this page. Taking care of safety and the provision of top-level services the site owner reserves the right to make changes as set forth in this privacy notice. Why we’ve seen a marked increase in the number of both new and returning traders.

Bitvavo is the cheapest exchange in Europe and only charges a maximum trading fee of 0.15%. Before August 2020 it was possible to trade at this exchange without specify any personal information. BitMEX changed their policy and every trader needs to perform a complete ID check. You can easily create your own account using the official website of BitMEX. If you use our promotion, you can save 10% on all trading costs within the first 6-month.

En webbläsare och mobil plånbok på Bitmex

In this BitMEX review, different aspects of the platform have been reviewed. Margin trading and leverage trading features of the platform have been evaluated. Plus, there have been no major talks on public forums about its hack or inconsistencies yet.

BitMEX executes funding every 8 hours, and the specific percentage will again vary depending on market forces. Here’s a couple of quick examples so that you can get your head around the funding conundrum. If you’re looking to trade a BTC/USD or ETH/USD perpetual contract, then market takers will pay 0.075% per trade, while market makers will get a 0.025% rebate. So now that we’ve covered the main derivatives that you can trade at BitMEX, in the next section we are going to discuss the specific cryptocurrencies that can be speculated on. The BitMEX DOWN Contract works in exactly the same way as the UP contract, albeit in the exact reverse.

If all this sounds very confusing to you, it probably means you shouldn’t use BitMEX since this type of leveraged derivative trading is aimed mostly for experienced traders. We want to make it possible for everyone to easily enter the world of cryptocurrency. On our website you will find guides and tutorials for both beginners and advanced traders. Everything is explained in such a way that no technical knowledge is required.

Important Questions: Is BitMex safe? Is BitMex legit? BitMex Scam Reports

For users with experience with exchanges, like Binance, it won’t be difficult to understand this exchange. Below the Trade tab, you can view the dashboard with all its trading tools. Firstly, BitMEX has a much larger daily volume to boast with, commands significantly more users, and has an established reputation in the market. However, it can have server overload issues, which can be frustrating. Furthermore, minimal new features or innovations are being introduced to keep traders interested. Active positions are displayed at the bottom and monitored easily.

This app also helps in speculating the market to earn Bitcoin profits assuredly. For informational purposes, the support team helps traders manage their different cryptocurrencies effectively. BitMEX offers a wide range of leveraged products for Ethereum, Bitcoin, Cardano, Ripple, Tron, and Litecoin. However, it provides the lowest leverage on EOS and Bitcoin Cash. Users can trade the only cryptocurrency as collateral for leveraged trades. BitMEX is available for almost all users to register and start trading all around the world, but apart from the United States.

Bitmex

BitMEX was founded in 2014 by Arthur Hayes , Ben Delo and Samuel Reed . The headquarter is located in Hong Kong and the entire company is being operated from here. BitMEX is not just a normal exchange, like Binance or Bitvavo, it is a Margin trading exchange. Purchase top-rated Ledger products and get it shipped to you completely for FREE, wherever you are! Forex trading – Perpetual foreign exchange swaps, with up to 50x leverage available on 12 trading pairs. Clpfoundation.org page is a financial service advertisement, according to the information provided by the service owner.