BitMEX Review 2025
Highlights of BitMEX
BitMEX is one of the first and most well-known cryptocurrency derivatives exchanges, specializing in trading futures and perpetual contracts with high-margin trading. Founded in 2014, the platform quickly attracted traders’ attention thanks to the ability to use leverage up to 100x and its narrow focus on derivatives.
The exchange is primarily aimed at experienced traders, offering a professional trading interface and an advanced risk management system. Although BitMEX has ceded part of the market to new competitors in recent years, it remains a recognizable player in the industry and continues to develop, offering users reliable infrastructure and a high level of security.
Pros and Cons of BitMEX
Pros
- One of the pioneers of the crypto derivatives market.
- High liquidity in futures and perpetual contracts.
- Leverage up to 100x.
- Transparent fees and a flexible discount structure.
- Advanced security framework.
- TradingView integration and trading bot support.
Cons
- Limited selection of cryptocurrencies compared to other exchanges.
- Offshore registration and past regulatory enforcement actions.
- Mandatory KYC.
- No fiat withdrawal methods.
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BitMEX Exchange Overview
| Foundation Year | 2014 |
|---|---|
| Official Website | https://www.bitmex.com |
| Regulated in Countries | SeychellesMore Details |
| Trading Assets |
|
| Fees (Maker/Taker) | |
| Spot | 0.1% / 0.1% |
| Futures | 0.05% / 0.05% |
| Max Leverage | |
| Spot | 1x |
| Futures | 100x |
| Email Support |
|
| Social Media |
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TelegramBitMEX was founded in 2014 by Arthur Hayes, Ben Delo, and Samuel Reed. The company was initially based in Hong Kong and later registered the holding company HDR Global Trading Limited in the Seychelles. The exchange quickly carved out its niche thanks to its specialization in derivatives trading and the introduction of perpetual contracts, which became a new standard in the crypto trading market.
The main focus of BitMEX is providing cryptocurrency derivatives trading services with high leverage—up to 100x. The platform is geared primarily toward experienced traders and institutional clients, offering advanced risk management tools and a professional interface. Over the years, BitMEX held leading positions by trading volumes but faced significant regulatory pressure, including charges of violating AML and KYC requirements. After restructuring its corporate structure and changing leadership, the company continues to operate, maintaining a reputation as one of the pioneers of crypto derivatives.
BitMEX Review Summary
- No hacks with loss of funds
- Proof of Reserves and an insurance fund of $2bn+
- Robust asset custody framework
- Offshore registration
- CFTC/FinCEN fines and enforcement actions
It is important to emphasize that when preparing the BitMEX broker review, we relied on our own evaluation methodology. It includes a comprehensive analysis of key parameters—from trading conditions and reliability to the quality of customer service. This approach allows us to provide an objective and balanced assessment of the broker. If you want to delve deeper into BitMEX’s capabilities and learn more about the strengths and weaknesses of the crypto exchange, we invite you to continue reading the review.
Reliability and Regulation
Since 2014 the exchange has not suffered major hacker breaches and has implemented advanced security measures: cold storage of funds, a multi-level transaction confirmation system, regular publication of Proof of Reserves, and the industry’s largest insurance fund. All this makes the platform resilient to technical and market risks.
However, regulatory factors lower the final assessment. BitMEX operates through HDR Global Trading Limited, registered in the Seychelles, and has already faced claims from U.S. regulators (CFTC and FinCEN), which led to significant fines. Despite steps taken to increase transparency and compliance, offshore registration and past proceedings remain sources of potential risk.
Licensing and Jurisdiction
| Legal Entity | Regulator |
|---|---|
HDR Global Trading Limited HDR Global Trading Limited | SFSA SFSA |
BitMEX is owned and operated by HDR Global Trading Limited, registered in the Seychelles. The platform operates internationally, providing access to cryptocurrency derivatives for users from many countries. Registration in an offshore jurisdiction allows the exchange to offer high leverage and a wide set of instruments, but at the same time limits its regulation compared to the world’s major financial centers.
Regulatory Risks
Over the years, BitMEX has faced claims from regulators, especially in the United States, where it was accused of violating AML and KYC rules. As a result, the company settled disputes and paid significant fines. Despite this, it continues to operate and is taking steps to improve internal compliance. For traders, this means that the exchange can be used, but with consideration of potential regulatory restrictions in different countries.
Security of Funds
Throughout its operation, BitMEX has not suffered major breaches with the loss of client funds. Against the backdrop of many exchanges that have fallen victim to hackers, this is an important factor in the platform’s reputation. From the outset, the founders of BitMEX emphasized security: a multi-level asset storage system, cold wallets, and a strict transaction confirmation procedure have helped avoid leakage of users’ funds.
Additionally, the platform regularly publishes Proof of Reserves and Liabilities—verification of reserves and liabilities. Since 2021, BitMEX has been one of the first exchanges to implement this practice and still continues to update the data twice a week, giving users the opportunity to verify the company’s financial stability at any time.
A separate protective element is the BitMEX insurance fund, which is the largest in the industry and exceeds $2 billion. This fund is used to cover losses on unclosed liquidation orders before they are passed to the auto-deleveraging system, which reduces risks for traders under conditions of high volatility.
Account Opening
Registration on BitMEX takes just a few minutes and does not require complex actions—it is enough to provide an email, set a password, and confirm the email. Identity verification (KYC) also goes quite quickly: it usually takes from a few minutes to one day, after which full access to deposits and withdrawals, as well as trading operations, is available.
An additional advantage is the availability of bonus offers, including the Welcome Package 2025 and referral codes, which make the start more attractive for new users. The only point that may slightly slow the process is mandatory KYC for all clients, which deters some traders who prefer anonymity. Otherwise, opening an account on BitMEX is a convenient and fast procedure that fully meets modern crypto exchange standards.
Registration
Registration on BitMEX takes just a few minutes. To create an account, you need to specify your email address, create a password, and choose your country of residence. After confirming your email, you gain access to your account dashboard and the platform’s basic functions.
When registering via our referral link or by entering the BitMEX referral code in the registration form, you will receive a discount on fees and additional bonuses. Click the code to copy it and use it during registration:
ExchangeCashbackBitmexBitmex30%IAMFOREXClick to copyGet CashbackGet Cashback
Identity Verification (KYC)
BitMEX requires mandatory KYC for all clients. The user must provide an identity document (passport or driver’s license) and verify their residential address. The check usually takes from a few minutes to one day. Only after successful verification is full access to trading and to deposit and withdrawal options available.
Welcome Bonus
BitMEX offers a new Welcome Package 2025, available to all new users after registration and passing KYC. As part of the package, clients can receive trading bonuses and fee discounts that help reduce startup costs and test the platform’s functionality.
Account Types
The BitMEX exchange offers not only basic spot trading, but also a wide range of derivatives, including perpetual contracts and futures, which is especially valuable for active traders. Additionally, fast cryptocurrency conversion, a marketplace of trading bots, copy trading, social guilds, and the native BMEX token are available, which expands the capabilities within the ecosystem.
Spot Trading
BitMEX gives users the option of classic spot trading, where trades are executed directly at market price. This is a convenient tool for those who prefer to hold cryptocurrency for the long term or use it for further operations. Spot-market fees are competitive, and liquidity is supported by a large base of traders.
Futures
Futures and perpetual contracts are BitMEX’s flagship product, which made the exchange known worldwide. The platform allows trading with leverage up to 100x, making it attractive to active and experienced traders. The lineup includes contracts on Bitcoin, Ethereum, and other popular cryptocurrencies. The liquidation system and insurance fund help reduce risks amid high volatility.
BitMEX TestNet Demo Account
BitMEX provides a full demo version of its platform, known as BitMEX TestNet, access to which requires a separate registration.
This demo account allows platform users to try the service without the risks associated with real trading.
TestNet uses the green classic BitMEX logo so that users can distinguish which version they are using at the moment.
Aside from this distinction, the platform largely has the same features as the main BitMEX version, with the ability to virtually top up your account from various sources and test trading before attempting anything real.
Cryptocurrency Conversion
For user convenience, BitMEX offers instant conversion from one cryptocurrency to another. This allows you to quickly rebalance a portfolio, move into stablecoins, or take advantage of arbitrage opportunities without needing complex orders on the spot or derivatives markets.
Copy Trading
BitMEX is implementing copy-trading capabilities that allow novice traders to follow professionals’ strategies. This solution lowers the barrier to entry and enables learning in the course of trading, while experienced traders receive additional income from subscribers to their strategies.
Trading Bots
BitMEX provides a full-fledged bot marketplace where users can select ready-made algorithms for automated trading. This lets even beginners plug in proven strategies without needing to program or configure the API manually. The marketplace features various types of bots—from simple arbitrage and trend-following to more complex systems with risk management.
For professional traders, integration via the native API (REST and WebSocket) is also available, enabling the development and connection of proprietary strategies. This approach makes automated trading accessible to all categories of clients—from beginners to institutions.
Guilds
BitMEX develops the social aspect of trading through a guild system. Users can form teams, participate in leaderboards, and compete with other traders. Various rewards are provided for activity within guilds, including bonuses and in-game achievements.
Each guild has its own profile, leaders, and members, creating a sense of team rivalry. Users can join existing guilds or create their own. Beyond the competitive element, the guild system fosters knowledge sharing, community development, and healthy competition among traders.
This format makes trading on BitMEX more interactive and motivating: traders not only trade individually but also contribute to their team’s success, increasing engagement with the platform’s ecosystem.
BMEX Token
The native BMEX token is part of the BitMEX ecosystem and is used for staking, fee reductions, participation in loyalty programs, and access to exclusive promotions. Token holders also receive additional trading benefits and bonuses when using the platform.
BitMEX API
The platform offers an advanced API (REST and WebSocket) geared toward algorithmic trading and integrating trading systems. This solution is in demand among institutional clients, market makers, and trading-bot developers, providing low latency and connection stability.
Institutional Terms
BitMEX actively works with institutional clients, offering increased liquidity, flexible deposit and withdrawal terms, tailored risk management solutions, and dedicated technical support. These conditions make the platform convenient for funds, trading firms, and large players.
BitMEX Promotions
To sustain user activity, the exchange regularly launches promotions and contests. Participants can receive bonuses for meeting trading conditions, take part in tournaments among traders, and use temporary discounts on fees.
Commissions
BitMEX offers some of the most competitive rates in the derivatives market: maker fees start from 0.05% and drop down to 0.0025% for institutional clients. On spot, base fees are 0.1%, which also matches the level of leading exchanges. Additional discounts are possible thanks to BMEX staking and higher trading volumes.
Spot Fees
For spot-market trades, base fees are 0.1% for both maker and taker. These rates are comparable to most major exchanges and allow both beginners and experienced traders to operate comfortably.
With BMEX token staking or a large 30-day trading volume, traders can receive additional fee discounts.
| Fee tiers | BMEX staking | 30-day trading volume (USD) | Maker | Taker |
|---|---|---|---|---|
| Regular 1 | >=0 | >=0 | 0.1000% | 0.1000% |
| Regular 2 | >=1 000 | >=1 000 000 | 0.0900% | 0.0900% |
| Regular 3 | >=10 000 | >=2 500 000 | 0.0800% | 0.0800% |
| VIP 1 | >=50 000 | >=10 000 000 | 0.0700% | 0.0700% |
| VIP 2 | >=150 000 | >=25 000 000 | 0.0600% | 0.0600% |
| VIP 3 | >=300 000 | >=50 000 000 | 0.0550% | 0.0550% |
| VIP 4 | >=750 000 | >=100 000 000 | 0.0500% | 0.0500% |
| VIP 5 | >=2 000 000 | >=250 000 000 | 0.0450% | 0.0450% |
Futures Fees
On futures and perpetual contracts, standard fees are lower than on spot: 0.01% for maker and 0.075% for taker. This structure makes derivatives trading particularly advantageous.
| Crypto exchange | Bybit | BitMEX | Binance | CoinEx | BYDFi |
|---|---|---|---|---|---|
| Maker | 0.036% | 0.05% | 0.02% | 0.03% | 0.02% |
| Taker | 0.1% | 0.05% | 0.05% | 0.05% | 0.06% |
Additionally, a dynamic discount system applies: the higher the 30-day trading volume or the more you have staked in BMEX, the lower the fees.
| Fee tiers | BMEX staking | 30-day trading volume (USD) | Maker | Taker |
|---|---|---|---|---|
| Regular 1 | >=0 | >=0 | 0.0500% | 0.0500% |
| Regular 2 | >=1 000 | >=1 000 000 | 0.0450% | 0.0500% |
| Regular 3 | >=10 000 | >=2 500 000 | 0.0400% | 0.0500% |
| VIP 1 | >=50 000 | >=10 000 000 | 0.0250% | 0.0500% |
| VIP 2 | >=150 000 | >=25 000 000 | 0.0220% | 0.0450% |
| VIP 3 | >=300 000 | >=50 000 000 | 0.0200% | 0.0400% |
| VIP 4 | >=750 000 | >=100 000 000 | 0.0180% | 0.0350% |
| VIP 5 | >=2 000 000 | >=250 000 000 | 0.0150% | 0.0320% |
Deposit Fees
BitMEX does not charge fees for cryptocurrency deposits. You only pay the blockchain network fees when transferring funds from your wallet to the exchange.
Withdrawal Fees
Withdrawals are also subject only to the network fee, which depends on the specific cryptocurrency and the chosen network. BitMEX does not add any extra charges, making the process as transparent as possible.
Other Fees
The exchange does not charge for account maintenance or asset custody. Participating in bonus programs, promotions, or guilds also does not require additional payments. Exceptions include specific ecosystem products (for example, using third-party services via API), where separate terms may apply.
Deposit and Withdrawal
The platform offers fast and convenient cryptocurrency deposits and withdrawals, and does not charge any additional exchange fees — only network fees are paid. This makes transactions transparent and relatively inexpensive. The deposit and withdrawal process usually takes from a few minutes to an hour, depending on blockchain congestion, which is in line with industry standards.
However, there is no support for fiat currencies, which may be a limitation for users accustomed to funding their accounts with bank cards or bank accounts. In addition, when using cross margin, withdrawals can affect a trader’s positions. Overall, BitMEX’s deposit and withdrawal terms can be considered reliable and convenient for experienced crypto traders.
Cryptocurrency Deposits
To deposit funds to BitMEX, the user needs to select the desired token in the Deposit section, after which the system will generate a unique address for the transfer. Deposits are possible in BTC, USDT (TRC20, ERC20), USDC, and other supported cryptocurrencies. The exchange does not charge a deposit fee — only the standard network fee is paid. The credit time depends on the blockchain: from a few minutes on fast networks to an hour or more under heavy load.
Buying Cryptocurrency
BitMEX allows you to buy cryptocurrency directly through integration with payment providers. A user can use a bank card or other payment methods to purchase BTC or stablecoins and transfer them straight to the exchange balance. This is convenient for beginners who do not yet have a crypto wallet.
Cryptocurrency Withdrawals
Withdrawals from BitMEX are made via the Withdraw section. You need to specify the coin, the recipient address, and the transfer amount. The exchange does not charge additional withdrawal fees — only the miners’ fee on the selected network is deducted. For example, when withdrawing BTC, the user pays the network fee in BTC.
Important: to submit a withdrawal request, you must set up two-factor authentication (2FA). This is an additional security measure that protects users’ funds from unauthorized access.
Withdrawal requests are usually processed quickly; however, for large amounts, additional security verification may be required.
Limits
On BitMEX, you can withdraw only the withdrawable balance — funds that are actually free to withdraw. The available balance may include unrealized profit on open trades, and such money cannot be withdrawn until the position is closed.
If you are using cross margin, withdrawing funds will reduce the amount of available margin and may change the liquidation price of your position. Therefore, it is important to consider the impact on open trades before withdrawing.
Markets and Products
The platform offers a strong suite of derivatives tools — futures and perpetual contracts with high leverage, spot trading, conversion, copy trading, bots, social guilds, and its own BMEX token. However, the selection of cryptocurrencies is limited to the main assets (BTC, ETH, USDT, USDC), which makes the product lineup less diverse compared to leading exchanges that support hundreds of coins and dozens of additional services.
Main BitMEX Markets and Services
| Category | Products and services | Description |
|---|---|---|
| Spot trading | BTC, ETH, USDT, and others | Classic buy-and-sell crypto trades without leverage. Suitable for long-term holding and basic operations. |
| Futures and perpetual contracts | Perpetual and dated futures | BitMEX’s flagship product with leverage up to 100x. High liquidity and a sophisticated risk management system. |
| Cryptocurrency conversion | Instant Convert | Fast asset conversion at the market rate without the need to place orders. |
| Copy trading | Following strategies | Beginners can copy professionals’ trades, lowering the barrier to entry. |
| Trading bots | BitMEX Bots marketplace | Users can connect ready-made algorithms or develop their own via the API. Support for arbitrage, scalping, and trend strategies. |
| Guilds | Social trading | Traders join teams, take part in competitions, and receive rewards for activity. |
| BMEX token | Internal ecosystem | Holders receive fee discounts, access to promotions and bonuses, and also participate in loyalty programs. |
| BitMEX API | REST and WebSocket | A solution for algorithmic trading, market-making, and institutional clients. |
| Institutional offering | OTC, increased liquidity | Tailored solutions, dedicated support, and special fees for large clients. |
| BitMEX promotions | Welcome Package, competitions | Bonuses for new users, promotions, and trading tournaments. |
Supported Cryptocurrencies
BitMEX supports a limited but carefully curated list of cryptocurrencies. The main focus is on Bitcoin (BTC), Ethereum (ETH), as well as the stablecoins USDT and USDC. Both spot pairs and derivative contracts for these assets are available.
Unlike exchanges with thousands of altcoins, BitMEX focuses on the most liquid and in-demand cryptocurrencies. This approach reduces risks for traders, improves reliability, and makes the platform convenient for professionals who seek high liquidity and transparent trading conditions.
Trading platforms
The exchange offers a convenient web platform with a full set of tools for active trading, as well as mobile applications for iOS and Android supporting all key features. An additional advantage is the integration with TradingView, where you can not only analyze the market but also trade directly, making the process as convenient as possible for users.
At the same time, the choice of platforms is limited to three options — web, mobile apps, and TradingView. There are no specialized desktop terminals, which may be a downside for some professional traders. Nevertheless, for most users the functionality of BitMEX is more than sufficient.
Web Platform
Core trading on BitMEX is carried out via the web platform. The interface is geared toward experienced traders: customizable charts, order book, trade history, and a flexible order system (market, limit, stop orders, etc.) are available. The platform runs fast and stably, ensuring high execution speed even during high volatility.
Mobile Applications
For user convenience, BitMEX offers mobile apps for iOS and Android. With them, you can open and close positions, manage orders, and monitor the market and your balance in real time. The app also supports two-factor authentication and other security features. This makes trading accessible anywhere, anytime.
TradingView
BitMEX supports full integration with TradingView, which allows not only analyzing the market but also trading directly through the TradingView trading panel by linking your BitMEX account. Users get access to numerous indicators, technical analysis tools, and the ability to create their own trading strategies. This format is especially convenient for traders who are used to working in the TradingView interface and want to combine analytics and trading in one place.
Analytics
The platform offers users advanced TradingView charts with a full set of tools for technical analysis, making it convenient for both beginners and professional traders. Additionally, BitMEX Research stands out — a team that publishes fundamental research on blockchain, cryptocurrencies, and global financial trends.
Crypto Trader Digest with essays by Arthur Hayes deserves special attention: publications are irregular but stand out for high-quality analysis and a unique view of the market. A drawback can be considered the lack of regular news summaries and trading signals in the usual format. Nevertheless, the available set of tools and analytics makes BitMEX one of the most informative players on the market.
Charts and Technical Analysis
BitMEX provides users with powerful tools for technical analysis. The web platform is integrated with TradingView, which enables working with advanced charts, using dozens of indicators, drawing trend lines, and creating your own strategy templates. This functionality is suitable for both beginners and experienced traders who are used to analyzing the market based on technical signals.
BitMEX Research
A separate line of analytics on the platform is BitMEX Research. This is a team of experts who publish detailed studies on cryptocurrency markets, blockchains, and promising technologies. In their reviews, you can find deep analysis of the Bitcoin network, scalability reports, DeFi research, and assessments of the state of the global crypto market. BitMEX Research is considered one of the most authoritative analytical centers in the crypto industry.
Crypto Trader Digest
Crypto Trader Digest holds a special place in BitMEX analytics — an author's column with articles by exchange co-founder Arthur Hayes. In an essay format, he shares his view on the state of the crypto market, macroeconomic trends, and the prospects of digital assets. Issues are released irregularly but are always distinguished by depth of analysis and an unconventional approach.
Education
BitMEX has rather high-quality educational materials: articles and guides in BitMEX Learn, a detailed knowledge base, as well as training videos and streams on YouTube. The content is well-suited for beginners and helps to understand the basics of derivatives trading.
BitMEX Learn
An educational portal, BitMEX Learn, has been created on the platform for beginners and advanced traders. It contains articles, guides, and step-by-step instructions on using the exchange, risk management, the specifics of derivatives, and trading strategies. The materials are presented in simple language and are regularly updated, which makes them useful for both beginners and experienced users.
Knowledge Base
BitMEX offers an extensive Knowledge Base (Help Center), where you can find answers to frequently asked questions, technical instructions, and guides on working with the exchange’s functionality. The section contains articles on account setup, using wallets, the API, fees, and other aspects of the platform’s operation.
Video Tutorials and Streams on YouTube
The exchange runs an official channel on YouTube, where educational videos, webinar recordings, and streams are published. In them, the BitMEX team breaks down trading tools, shares market overviews, and explains how to use the platform effectively. This format is suitable for those who prefer visual learning and illustrative examples.
Customer Support
BitMEX users can contact support through the ticket system, online chat, or use the FAQ section and Knowledge Base. Responses from specialists are usually substantive and help resolve the issue, although wait times depend on the complexity of the request and current workload.
Support Channels
The main ways to contact BitMEX are the ticket system in the Help Center and the online chat available directly on the website and in the app. Additionally, users can find answers on their own in the Knowledge Base and FAQ. Support is provided in several languages, including English and Chinese.
Response Time
In the online chat, responses often arrive quickly, but when contacting through a ticket, the waiting time can range from several hours to a day. For critical requests related to security or account lockouts, the team responds with priority.
Support Competence
Support staff demonstrate a good understanding of the platform and trading tools. Responses are generally detailed and help resolve issues quickly. The availability of online chat increases convenience; however, the limited number of languages remains a weak point.
Conclusion
BitMEX is a platform primarily focused on traders operating in derivatives who use advanced tools for analysis and automation. The exchange suits seasoned market participants and institutions thanks to high liquidity, flexible leverage, TradingView integration, and a robust API.
At the same time, beginners will also find useful features: copy trading, a trading bot marketplace, educational materials, and accessible bonus programs. As a result, BitMEX can appeal both to professionals and to those just starting out in crypto trading.
FAQ
What is BitMEX?
BitMEX is a cryptocurrency exchange founded in 2014 that specializes in derivatives trading: cryptocurrency futures and perpetual contracts with high leverage.
Is BitMEX safe?
The crypto exchange is considered one of the safest: it uses cold storage, multi-layer authentication, Proof of Reserves, and an insurance fund of over $2 billion.
How does BitMEX work?
BitMEX provides access to the spot and derivatives markets for cryptocurrencies. Users can trade manually via the web or mobile app, as well as connect bots and the API.
How to use BitMEX?
To begin, you need to register, complete KYC, and fund your account with cryptocurrency. Then you can trade on spot or open futures positions with leverage.
How to open an account on BitMEX?
Registration takes place on the BitMEX website: specify your email, password, and country of residence. After activation and verification (KYC), the account will be ready for use.
How to deposit on BitMEX?
In the 'Deposit' section, select the cryptocurrency and copy the wallet address. Send funds from an external wallet; only the network fee is charged.
How to trade on BitMEX?
Choose a market (spot or derivatives), configure the order (limit, market, or stop), and open a position. Leverage up to 100x is available for experienced traders.
How to sell cryptocurrency on BitMEX?
On the spot market, place a sell order by specifying the price and amount of cryptocurrency. In futures, you can open short positions, profiting from a decline in the cryptocurrency pair’s price.
How to withdraw funds from BitMEX?
Go to the 'Withdraw Funds' section, specify the recipient address and the withdrawal amount. 2FA must be enabled for withdrawals. The exchange does not charge a withdrawal fee; only the network fee is deducted.
How to delete an account on BitMEX?
To delete your account, contact customer support via ticket or live chat and confirm your account deletion request. After verification, your profile will be closed.
