BitMEX Review 2025: Features, Trading Experience & Fees UPDATED

Furthermore, the BitMEX app has built-in full charting capabilities, making it a great trading platform for mobile users. The trade section allows users to access both the spot and derivative markets. Users can trade spot and derivatives with access to advanced mobile charting and up to 100x BitMEX leverage. 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.

Despite this, Hayes has maintained a presence in the crypto community, expressing his commitment to changing the financial landscape through cryptocurrency. Arthur Hayes is a figure in the cryptocurrency industry known for his role in founding BitMEX (Bitcoin Mercantile Exchange). BitMEX, founded in 2014 by Arthur Hayes—the youngest African American crypto billionaire to date, who transitioned from an investment banking career—provides a platform for precisely these activities. Amazing exchange, the best I ever used for my trading strategies

GNcrypto does not take responsibility for any mistakes, omissions, or financial losses resulting from reliance on this information. The material on GNcrypto is intended solely for informational use and must not be regarded as financial advice. We use a weighted, category-based model, collect standardized data from each platform (public pages + hands-on testing), and convert that into a 1.0–5.0 star score in 0.1 increments.

What Countries Are Supported?

As such, while BitMEX will likely be easy for experienced traders, those looking for a more simplistic platform will be better off using an exchange like Coinbase. While BitMEX will feel familiar for anyone used to advanced trading platforms, the interface isn’t easy to get used to. Taker fee discounts are available to traders with over $1 million in 30-day trading volume, with a maximum fee discount of 66.67% for trading $50 million (or more). The trading fees on BitMEX are similar to those on platforms such as Binance. There are no fees for depositing crypto, though users may need to pay network fees to transfer crypto from their wallet to BitMEX.

Derivatives Trading (with Leverage)

• BitMEX (Bitcoin Mercantile Exchange) is a cryptocurrency exchange and derivative trading platform founded in 2014.
• If you stake BMEX tokens on the trading platform, you can receive trading fee discounts, withdrawal fee reductions, and access to other VIP benefits depending on your tier.
• We were convinced that BitMEX deserves high marks for derivatives liquidity, execution, and professional-grade tools.

As such, we can’t recommend BitMEX to users aiming to trade multiple altcoins. BitMEX supports 30 cryptocurrencies, including BTC, ETH, and other popular altcoins. However, users must pass KYC identity verification to begin using the exchange. Instead, US-based investors can check out our guide reviewing the best crypto exchanges USA. BitMEX has a native exchange token (BMEX), which provides various benefits to BitMEX users.

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Now that your account is active, you can visit the Rewards Hub to complete tasks/missions and unlock the rewards BitMEX offers new traders. For network fees for other crypto assets, check the BitMEX withdrawal page for a complete list at the time of the transaction. BitMEX fees include trading fees, BMEX token discounts, funding fees, and deposit & withdrawal fees. So, whether you’re into market making, arbitrage, or momentum strategies, the platform gives you all the tools to automate your trades.

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The table below shows the token discounts and other benefits available to traders depending on how much BMEX they stake. BitMEX offers tiered fee discounts based on the rolling 30-day Average Daily Volume (ADV) and the amount of BMEX tokens a user stakes. Aside from the trading tools, bots are built for speed so they can execute enormous volumes of trades with minimal latency. BitMEX Trading Bot is an automated software tool that executes BitMEX trades based on preset strategies, market signals, or algorithms.

Does the platform have a mobile app?

BitMEX surfaces funding information clearly in the interface, but newer traders can still underestimate how much these periodic payments matter to P&L. Funding rates move with market conditions and can be positive or negative; in trending markets, funding can significantly add to or reduce your effective trading cost. In our $200 BTC spot test, we bought and then sold BTC/USDT using a mix of limit and market orders.

• However, it appears that staking other cryptocurrencies, like Ethereum, is not currently supported on the platform.
• This means you can automate your trades using pre-programmed strategies and let the system handle your buy or sell orders around the clock.
• One of the reasons might be that margin trading is not too popular because of how difficult it may be to understand.
• Available in over 150 countries, it serves millions of users, and processes millions in daily trading volume.

The platform has customisable dashboards and multilingual support in English, Russian, Mandarin, Turkish, Spanish and Hindi. Recently, BitMEX launched live chat support, allowing users to chat with a customer support representative. The BitMEX app is relatively new but has been downloaded over 10,000 times on the IOS store, with the BitMEX reviews having an average rating of 5 stars. Placing a trade is simple for anyone familiar with the commonly-used order book-style screen, thanks to the green and red color scheme highlighting important areas. And while BitMEX does not charge a fee for withdrawing Bitcoin or other altcoins, there will be a small network fee determined by the blockchain, not BitMEX.

BitMEX Customer Service

Exact rates depend on the contract type and your volume tier, but in practice they are in line with other tier-one derivatives venues. Overall, BitMEX works best as a specialized tool, not as a universal exchange for everyone. The spot side is modest by comparison, with just over a dozen spot pairs and a focus on BTC, ETH and a handful of majors. Newcomers may find the layout dense, but for power users this is part of the appeal.

Because BitMEX does not have a huge customer base, you will hardly find too many customer reviews about this exchange on sites like Trustpilot. BitMEX is open for inquiries, and users can find out all the necessary information about who runs the platform and how the funds are secured. There are also live update notifications that keep users informed about the latest updates within the exchange. Users can educate themselves on the intricate trade nuances and get a detailed rundown of the whole exchange on the support center page.

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To make a sensible comparison, one can consider similar platforms, with Bitfinex and KuCoin being notable alternatives. In an effort to gather diverse perspectives on BitMEX, I explored Trustpilot, and to my surprise, the reviews were not particularly favorable. However, the requirement to complete full KYC even before gaining access to the platform is somewhat inconvenient, especially considering the absence of a proprietary fiat onramp, relying instead on third-party applications. While using BitMEX, I didn’t encounter any specific issues as the entire process was smooth, and trading proved to be fast and straightforward. By clicking on the link provided below, you can access a special promotion that enhances your introduction to BitMEX, ensuring a favorable start to your experience on the platform.

However, beginners might find its interface complex, and the limited cryptocurrency options, primarily focused on Bitcoin, might be a drawback for those seeking a broader range. This serves as a safeguard in the event of a “bank run,” assuring users that the exchange can fulfill fund withdrawals transparently and without any risk of a rug pull. Following the FTX incident, users began demanding proof of reserves—a document substantiating that their funds are supported by genuine reserves held by the exchange. Ensuring the security of users funds is paramount for any exchange, and BitMEX takes this responsibility seriously. These platforms share the commonality of not being available in the United States and providing a bitmex review variety of leverage options.

The insurance fund is a safety limit that stops the trade in the case when the loss is becoming larger than the fund’s amount. It is a legal platform owned by HDR Global Trading Limited. However, there is a list of countries and regions where the platform is banned. The platform also has a dedicated customer support team. Its closest rivals in that field are the Bitfinex and OKCoin exchanges.

The purchased crypto will be deposited directly into a user’s BitMEX account and used for trading or earning interest. Users can purchase hundreds of different cryptocurrencies using a selection of 30+ fiat currencies. While this is a valuable feature to swap cryptos fast, the lack of supported cryptocurrencies hinders its usefulness. However, BitMEX does allow users to fully customize the interface, with the ability to rearrange trading windows and hide trading tools they no longer wish to see. The user interface is quite dated and does not offer the same modern look as the BitMEX spot platform. Furthermore, Bitmex offers a range of order types, including market, limit, or stop orders.

BitMEX website is blocked in the USA because of the country’s strict futures trading regulations. BitMEX also has a professional customer support team and functional built-in chat where traders can also communicate with each other. We will finish our BitMEX review with a quick recap of why this leverage platform will be or will not be good for you. Bitcoin is also used for all trading statistics inside the BitMEX platform. One of the reasons might be that margin trading is not too popular because of how difficult it may be to understand.