Before we dive in, let’s examine what trading with leverage is, and specifically, what this means for users of the BitMEX trading platform. BitMEX provides customer support via email and a dedicated ticketing system. While it is often praised for being responsive, some users have noted that response times can vary depending on the volume of inquiries.

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Make sure that you know what you’re doing before making such agreements. When it comes to any service that requires investment and stores your private information, it’s crucial to pay attention to security measurements and find out whether or not it’s actually safe to use. That’s the main reason I would like to begin this BitMEX review with security.

It also supports a range of altcoin derivatives, with slightly lower leverage limits. Its core derivative products include perpetual and futures contracts, which we discuss below. BitMEX is a cryptocurrency derivatives exchange that allows users to trade digital assets with leverage as high as 250x for Bitcoin and 100x for other crypto assets.

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Users can purchase hundreds of different cryptocurrencies using a selection of 30+ fiat currencies. There are a few bitmex review gateways, including MoonPay, Transak, and Mercuryo. It should be noted these platforms charge processing fees, which can be very high.

TestNet Demo Account

The platform offers exceptional tools that make technical analysis a breeze, allowing me to execute trades with confidence. The Bitcoin perpetual contracts are a standout feature, and the liquidity is impressive—my larger orders get filled without any hassle. The TradingView integration with detailed charts is a game-changer, and the overall interface feels professional and trustworthy. Highly recommend BitMEX to any serious trader looking for a reliable and powerful exchange.

BitMEX Review: The Colorful History of the Company

• If you want to practice trading on BitMEX TestNet, you’ll need to create a separate account from BitMEX.com.
• While users can open a ticket for more advanced issues, unfortunately, there is no live-chat option, and in busy periods, users may have to wait several hours before their questions are answered.
• However, United States residents cannot use the platform due to regulatory requirements outside BitMEX’s control.
• For investors interested in this feature, its free availability and easy access from the trading page – using the leverage slider – is an excellent bonus.

BitMEX’s proprietary trading engine is the first of its kind, and really showcases the exchange’s commitment to security. The BitMEX exchange also supports tokens from decentralized exchanges such as UniSwap and Sushiswap. The BitMEX supported platforms are Web platform, iOS App, and Android Apk. To understand more about BitMEX’s future contract, you will need to know some mechanics such as multiplier, position marking, initial and maintenance margin, settlement, and basis. So, all these support that BitMEX is a legit and safe crypto exchange out there. Our Website may link to external sites or content not controlled by us.

BitMEX is an unregulated exchange that offers its services only in bitcoins. The USA’s government regulates crypto trading, and for an exchange to operate in the USA, it needs to register with the CTFC and obtain a broker’s license. However, you might be able to use it with the help of VPN services. BitMEX provides you perpetual contracts products, and you can only use Bitcoin to trade at BitMEX.

BitMEX leverage and leverage slider

HDR Global Trading Limited founded BitMEX in 2014, which has since become one of the most popular Bitcoin trading platforms worldwide. The company was founded by former banking experts Samuel Reed, Arthur Hayes and Ben Delo. One of the founders, Ben Delo, is reportedly the first billionaire in the UK to make their fortune from Bitcoin.

• This liquidity ensures that trades can be executed quickly and efficiently with minimal slippage.
• The purchased crypto will be deposited directly into a user’s BitMEX account and used for trading or earning interest.
• Currently, there are no notable restrictions on BitMEX accounts, including withdrawal limitations.
• Trading with leverage increases the potential for both gains and losses, so it’s crucial to approach it with caution and a solid risk management strategy.

So, as you can see, BitMEX isn’t just about derivatives trading anymore. However, its focus still remains on that, with its new features currently being quite limited. BitMEX didn’t allow fiat currency purchases in the past, so it was a bit difficult to make deposits for those who didn’t have crypto yet. To solve this, it teamed up with Onramper to let you buy BTC, ETH, or USDT directly with fiat. Credit card, bank transfer, and local payment methods – all are supported.

Reliability & Security

Armed with contents related to cryptocurrency, blockchain technology, trading fundamentals, and other topics essential to success in the crypto markets, as well as basics about the BitMEX platform. BitMEX offers exceptional trading tools, allowing me to conduct detailed technical analysis before executing trades. The platform’s performance during high volatility periods has improved significantly, making it my go-to exchange for trading. It is not recognized as a financial entity in many regions because regulations for this kind of platform simply don’t exist. This doesn’t inspire confidence, but this exchange has built up a reputation online that makes you think it is at least worth a try. Account balances and all movements of digital assets within the exchange are measured in Bitcoin.

The pros of BitMEX include high leverage, advanced trading features, deep liquidity, low fees, robust security measures, an API for algorithmic trading, and a testnet for practice trading. To give you a quick look into the trading platform, the table below contains information about the BitMEX exchange, including the number of supported cryptocurrencies, its best features, and more. Hedge With Crypto aims to publish information that is factual, accurate, and up-to-date. The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from the actual provider’s website. The app offers users a quick view of their accounts, including balances and trade history, and the ability to deposit or withdraw crypto directly in the app. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications.

If you want to practice trading on BitMEX TestNet, you’ll need to create a separate account from BitMEX.com. Even though the platform is not the most recommended for beginners, the simulation could be amazing for those who have no previous experience when it comes to placing, executing and canceling orders. To make such predictions, you have to perform thorough research, analyze the market, and invest an amount of money that you wouldn’t be too afraid of losing. However, it doesn’t have to, as the platform eventually fell in line. So, if you’re still interested in finding out more, we’ll explore it together in this BitMEX review.

A good example of this difference would be if the price was $100/BTC today. If I am entering into a long futures contract at these prices, I will need to pay 0.025 BTC ($2.50) initial margin (initial deposit). I could then close my position on that futures contract and keep the $1 of gains (fewer fees). If this happens before the settlement date (when it’s actually delivered) of the futures contract, I get to keep these funds without waiting for settlement. Some key features include trading bots, options, advanced order types, and risk management tools.

Read all Bitmex reviews or write a review to help others make the right choice. However, the BitMEX exchange has maintained its credibility and secured its users’ interests over the years. To sell assets, switch the terminal to Sell mode and then repeat the same procedure as for buying. Bitmex offers a quick purchase of cryptocurrency with a bank card through Banxa and Mercuryo intermediaries. Let’s use USDT coins (you can use any other coins – Ethereum for example) to show how to top up it.