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BitMEX

3.2
(13)

BitMEX offers a variety of contract types. All contracts are bought and paid out in Bitcoin.

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BitMEX Reviews

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BitMEX review by John W.
John W.
Validated Reviewer
Verified Current User
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"Unique experience in crypto trading - recommended for expert traders"

What do you like best?

BitMEX offer serious trading products that we can't get in any crypto platform - up to 100 X leverage for example - this is one of the most common trading product that we use for our costumers.

Most of the time, BitMEX has good prices, better than other crypto exchanges, for example - the BTC price was almost 100$ cheaper than most competing crypto exchanges.

Simplicity of usage - this is the most important thing in BitMEX platform that convinced us to keep trading in this platform.

What do you dislike?

BitMEX has not yet released a mobile application. "BitMEX" apps on the Android or iOS stores are fake and may steal your credentials.

Sometimes the average withdrawal time is quite long - between few hours to 2 days.

The orderbook sometimes dissapears, after refreshing with ctrl+f5 - it is showing the orders.

In the last days i was unable to set stoploss.

Unfortunately, BitMEX offers only few crypto assets to trade (only 8 crypto assets).

Recommendations to others considering the product

I really recommend you start trading in BitMEX only if you are not a beginner in trading.

You should read the 'Perpetual Contracts Guide' and all the other relevant guides for you in the documentation section, before start trading in BitMEX - this is really helpful.

What business problems are you solving with the product? What benefits have you realized?

Our business trade Bitcoin, ETH & EOS. We are using the unique trading options BitMEX offer - the contracts and the leverage - currently in there days - we can't get it in other crypto exchanges.

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BitMEX review by Josef M.
Josef M.
Validated Reviewer
Verified Current User
Review Source
content

"My company joined BitMEX after colleague's suggestion - beyond all of my expectations!"

What do you like best?

Trading options & products that are not available together in other crypto trading platforms.

Convinient trading between USD and other crypto - especially for daily traders.

Very good "Starters Guides" for the new users.

What do you dislike?

The support recently (in the last 4 months) returns later responses.

The platform supports only in a few number of crypto assets - Bitcoin, Bitcoin Cash, Cardano, Ethereum, EOS Token, Litecoin, Tron, Ripple.

Besides, I do not complain about anything in this platform.

Recommendations to others considering the product

BitMEX trading platform is more suitable for experienced traders, so i recommend that you should get an experience in crypto trading in "less risky" platforms and when you feel experienced enough - move your tradings to BitMEX platform.

If you consider start using BitMEX platform on a daily basis - focus on 1 / maximum 2 crypto assets (my recommendation - XBT & another for your opinion).

What business problems are you solving with the product? What benefits have you realized?

Daily trading with a lot of special options that are not offered in other crypto trading platforms (up to 100x leverage, special contracts).

The main BTC chart that screened on our screens is the BitMEX Bitcoin chart using their BitcoinCharts API.

What Cryptocurrency Exchanges solution do you use?

Thanks for letting us know!
BitMEX review by Elrom L.
Elrom L.
Validated Reviewer
Verified Current User
Review Source
content

"Professional platform for trading experts, the platform answers all the needs besides its design"

What do you like best?

It allows you a lot of trading products - up to 100x leverage, margin calls, Bitcoin (XBT) contracts.

The affiliate payout structure is pretty good, as a group with hundreds of referalls.

The BMEX mobile app support almost all of the actions that the web platform does, and has a convinent user experience.

What do you dislike?

Risky platform - BitMEX users need to be experienced in the trading before starting, i used the leverage options and lost big amount of money.

The platform design looks old, like 90's.

Complex API's - the developers in my business complain about the complexity of using&implementing it.

Sometimes - i unable to set stop loss on BitMEX.

Recommendations to others considering the product

It's not so easy beginning your first trade on BitMEX - Use the BitMEX trading platform if you are a person/business who takes financial risks, but at first - learn the fundamentals about the trade product you're willing to use.

What business problems are you solving with the product? What benefits have you realized?

Our business trade Bitcoin, ETH, XRP and EOS. The BitMEX platform enables us to bring impressive returns to our customers.

The updated Bitcoin chart in my company is based all the time on the chart of this platform, because of the professional look and tools the system offer to us.

BitMEX review by Vanshika A.
Vanshika A.
Validated Reviewer
Review Source
content

"BitMex the great"

What do you like best?

I like it most because it allows a lot of trading product- up to 100x leverage,margin calls,Bitcoin(XBT) contracts. It also allows users to utilize margin and leverage their investments which they normally wouldn't be allowed to do on normal cryptocurrency exchanges. It is great software.

What do you dislike?

It had a lot of crashes in the BitMex mobile application- it should be fixed before we'll trust on application stability. Not idle for unexperienced traders ,it is not user friendly also not allows fiat deposits or withdraws.

Recommendations to others considering the product

I highly recommended this product because it is really helpful and useful. it also has many good like high liquidity for bitcoin spot and features, good user interface and charting tools. It is outstanding.

What business problems are you solving with the product? What benefits have you realized?

It helps me a lot in margin trading with the main crypto assets on the market. The main BTC chart that screened on our screens is the BitMex Bitcoin chart using their Bitcoin charts API.

BitMEX review by Seung Ho (Ryan) R.
Seung Ho (Ryan) R.
Validated Reviewer
Review Source
content

"Former Margin Trader on Bitmex"

What do you like best?

Bitmex allows users to utilize margin and leverage their investments which they normally wouldn't be allowed to do on normal cryptocurrency exchanges.

What do you dislike?

There have been news about higher-ups within the company inside trading. Furthermore the fees can change drastically. I have personally witnessed fees jumping from 0.0002 BTC to 0.3 BTC

Recommendations to others considering the product

It is definitely something I would recommend to an avid trader. You have much more options to choose from. Unlike other margin trading sites, Bitmex has much higher limit. However, for the average person I would advise them to stay away. Margin trading is far riskier than normal trading. If your prediction is off by even ~$50 you could lose your entire position (this is assuming you go in with 100x leverage).

What business problems are you solving with the product? What benefits have you realized?

I am currently not active trading on Bitmex but some of the benefits I have realized were extraordinary return on my investments. The potential return from margin trading is in an entire league of its own.

BitMEX review by Sam M.
Sam M.
Validated Reviewer
Review Source
content

"Platform with unique trading products, headed to the right direction"

What do you like best?

I like the "Where to start" section (in the References page) - It's really makes order and helps you start smoothly from basic in this platform.

I like that that this platform offers good trading products that is not offerd in other crypto exchanges - up to 100x leverage options, Bitcoin (XBT) and ETH contracts.

BitMEX has low fees, comparing to other trading platforms we use - Cex.io, Bitfinex, KuCoin.

What do you dislike?

I had a lot of crashes in the BitMEX mobile application - it should be fixed before we'll trust on the application stability.

The platform only offers a few number of crypto coins to trade - BTC, BCH, ETH, ADA, EOS Token, LTC, TRX, XRP.

Recommendations to others considering the product

You should read the "Where to start" section (exist in the References page), it explains you every trading term and direct you to professional guides for them.

In this platform you should choose 2 specific crypto assets and focus on them, it will help you to track these assets and minimize your trading mistakes.

BitMEX is a great platform to maximize profits, but respectively, you should be careful at first.

What business problems are you solving with the product? What benefits have you realized?

We are using the leverage option in many times, in order to maximize our profits.

Convinient Bitcoins and ETH trading (short & long term).

We are using the BitMEX REST API, it helps us control our investments and doing market analyzes (we implemented it in our web applications).

BitMEX review by User
User
Validated Reviewer
Review Source
content

"Terrifying freezes and failed order executions"

What do you like best?

The only good thing about Bitmex is being able to trade on high leverage, however, many new platforms such as PrimeXBT and Deribit are taking the spotlight lately.

What do you dislike?

Most of the time I find a good opportunity or predict a crash that I've already placed trades on - Bitmex decides to freeze, making my orders impossible to access and once it reopens, it appears that I've been liquidated DESPITE having stop loss in place. I'm finding it impossible to trade safely without being dumped on by its creators.

Recommendations to others considering the product

Spare your nerves and money, find a better product to use since this is a product of the cryptocurrency bear market and won't satisfy your needs be it professional, educational or beginner in trading. The platform is a simple meta, without real infrastructure to back it up. Apart from the freezes, order submission errors there are various sources pointing towards Bitmex trading against their clients. You will have higher chances of success at a casino.

What business problems are you solving with the product? What benefits have you realized?

Bitmex provides x100 leverage, however it's on limited pairs and that's no longer a benefit in the industry.

BitMEX review by User
User
Validated Reviewer
Review Source
content

"Risky but profitable crypto derivatives exchange"

What do you like best?

BitMEX is a trading platform which provides access to derivatives based on cryptocurrencies and margin trading, which offers great opportunities on null or bear markets if done correctly. It hhas gained a lot of popularity due to its big volumes, providing a significan variety of order types and competitive fees (neither for deposits or withdraws). They have a good FAQ page where to find any type of information, but I recommend to read external articles to clarify the most complex terms.

What do you dislike?

Not ideal for unexperienced traders. I don't like the non user-friendly interface, which could be improved in terms of UX and UI. Also doesn't allow fiat deposits or withdraws.

Recommendations to others considering the product

Trading at this exchange is complicated and I would not recommend it for beginners or those who don't understand margin trading or derivatives fundamentals.

What business problems are you solving with the product? What benefits have you realized?

I'm able to take advantage of margin trading with the main crypto assets in the market.

BitMEX review by Anam B.
Anam B.
Validated Reviewer
Verified Current User
Review Source
content

"A low fee alternative to other cryptocurrency trading tools"

What do you like best?

I like the lower fees, the breadth of cryptos available for trade

What do you dislike?

Being a designer I do not like the UI of the trading page...could be improved to be less cluttered

What business problems are you solving with the product? What benefits have you realized?

I am trying to earn some extra cash on the side using Bitmex

BitMEX review by Gage M.
Gage M.
Validated Reviewer
Review Source
content

"Easy to use"

What do you like best?

The thing that I love the best is how easy they have made it to use.

What do you dislike?

Sometimes you can feel like there is so much information coming at you.

Recommendations to others considering the product

Keep making it easy for customers to use the software. Huge selling point.

What business problems are you solving with the product? What benefits have you realized?

It makes it really easy for me to exchange crypto currency.

BitMEX review by Matthew  B.
Matthew B.
Validated Reviewer
Review Source
content

"one of the largest Bitcoin trading platforms - easy to use"

What do you like best?

the platform does provide a wide range of tools and once users have experience of the platform and appreciate the wide range of information that the platform provides.

What do you dislike?

not a platform that is not intended for the amateur investor. The interface is complex and therefore it can be very difficult

What business problems are you solving with the product? What benefits have you realized?

investing

BitMEX review by Consultant in Real Estate
Consultant in Real Estate
Validated Reviewer
Review Source
content

"bitMEX review"

What do you like best?

the cheap transaction fees and fast execution

What do you dislike?

the amount of time and security needed to sign in

Recommendations to others considering the product

highly recommend to bitcoin and crypto traders looking for low transaction fees and quick transactions

What business problems are you solving with the product? What benefits have you realized?

not necessarily business problems but more for investing.

BitMEX review by User in Information Technology and Services
User in Information Technology and Services
Validated Reviewer
Review Source
content

"Bitcoin Exchange positive trading experience"

What do you like best?

I like how there is a Dutures Guide, for Beginner's Guide to trading futures.

What do you dislike?

Wish they had more crypto's like Tron/ TRC

What business problems are you solving with the product? What benefits have you realized?

No issues signing up was easy.

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* We monitor all BitMEX reviews to prevent fraudulent reviews and keep review quality high. We do not post reviews by company employees or direct competitors. Validated reviews require the user to submit a screenshot of the product containing their user ID, in order to verify a user is an actual user of the product.