BitMEX: High-Leverage Crypto Derivatives Exchange
BitMEX is a popular derivatives exchange known for offering up to 100x leverage on certain products, enabling users to amplify potential returns on their investments. The platform supports a range of derivatives products and provides sophisticated trading tools, allowing users to execute custom strategies while benefiting from deep liquidity and low trading fees. The trading interface is fully customizable to suit the preferences of traders.
Launched in 2014, BitMEX has become a leading derivatives exchange with high trading volume. In 2016, it introduced perpetual swap contracts with up to 100x leverage. The platform also has a native token, BMEX, which serves as a utility token, offering discounts on trading fees.
Pros and Cons
| Pros | Cons |
| Wide range of derivatives products | Not available in U.S. |
| Up to 100x leverage on some products | |
| Low trading fees | |
| BMEX token can give discounts on fees | |
Trading Fees
BitMEX utilizes taker/maker fee structure for both spot and derivatives trading. For spot trading, makers and takers pay 0.10% fees. On the other hand, fees for derivatives trading depends on monthly trading volume and amount of BMEX staked. The higher the amount of staked BMEX, higher the discounts on fees. Here’s the fee structure for derivatives trading:
| Fee Tier | 30D Rolling Average Daily Volume (USD) | Taker Fee (XBT) | Maker Fee (XBT) | Taker Fee (USDT) | Maker Fee (USDT) |
| B | 0 | 0.0750 % | 0.0200 % | 0.0750 % | -0.0150 % |
| I | 1,000,000 | 0.0500 % | 0.0100 % | 0.0500 % | -0.0150 % |
| T | 5,000,000 | 0.0400 % | 0.0000 % | 0.0400 % | -0.0150 % |
| M | 10,000,000 | 0.0350 % | 0.0000 % | 0.0350 % | -0.0150 % |
| E | 25,000,000 | 0.0300 % | 0.0000 % | 0.0300 % | -0.0150 % |
| X | 50,000,000 | 0.0250 % | 0.0000 % | 0.0250 % | -0.0150 % |
| D | 100,000,000 | 0.0240 % | -0.0030 % | 0.0240 % | -0.0150 % |
| W | 250,000,000 | 0.0230 % | -0.0050 % | 0.0230 % | -0.0150 % |
| K | 500,000,000 | 0.0220 % | -0.0080 % | 0.0220 % | -0.0150 % |
| S | 1,000,000,000 | 0.0175 % | -0.0100 % | 0.0200 % | -0.0150 % |
Trading Experience
BitMEX provides a well-organized trading interface which includes price chart, depth chart, order book, recent trades section, news feed and order form. Users can move these sections and adjust them based on their preferences. They can also utilize several charting tools and indicators for technical analysis. Both individual and institutional traders can easily use the trading platform for their trading strategies.
You can access a wide variety of derivatives products and trade certain products with up to 100x leverage. You can also trade 14 spot trading pairs and take benefit of high liquidity.
Other Features
While BitMEX enables a smooth trading experience through better liquidity and latency, it also provides other unique features such as BMEX token which serves as its native token. It was launched in November 2022 to provide discounts on trading fees, staking rewards and certain VIP privileges. At the maximum level, users can get 15% taker fee discount or 0.004% maker fee reduction.
Moreover, BitMEX provides Guilds, a Social Trading Platform, that allows collaboration and community engagement between the BitMEX traders. Users can also create their own groups or Guilds, that can help enable collaboration between traders.
Customer Service and Satisfaction
BitMEX provides customer support through several channels including email, support request and FAQ section. Users can submit request if they have specific problems or issues related to the platform. They can use FAQ section to learn about trading, and other topics. The extensive educational resources can be very helpful if you have any queries.
BitMEX got 12 reviews on G2, which gives it an overall rating of 3.1 out of 5. Many customers admire features such as 100x leverage, user-friendly interface, low fees and overall smooth trading experience. Some customers also complain about trading system freezing, and complex interface. Customers have varying experiences with some having a smooth trading experience while other facing problems in the process.
Company Overview
BitMEX is one of the oldest derivatives exchanges developed in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed. The platform gained significant popularity due to its advanced trading tools and features. Initially, platform focused on BTC derivatives contracts, but later added other products such as perpetual swap contracts. In 2022, it launched spot trading feature and BMEX token which provided several advantages to old users and also grew user base. While the exchange remains unregulated in several regions such as U.S., it is generally considered to be a secure platform, with a proof-of-reserve system. The company is currently based in Seychelles.