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BitMEX Review


BitMEX is a trading platform where you can deposit funds and withdraw profits in Bitcoin and trade Bitcoin and other crypto currency derivatives. The company was founded in November of 2014 in the Republic of Seychelles. Since then, investors have traded a combined $26.5 billion on BitMEX, which amounts to more than a fourth of the total Bitcoin market cap.

BitMEX offers up to 100x leverage on trades. Traders can trade on the platform without expiry dates while enjoying top-notch security. Further, this is a rare company which offers full bios on each of its founders.


This platform is a bit different from many other trading websites out there in a couple of respects. First of all, there is no way to deposit or withdraw in fiat currencies on BitMEX. You can only deposit and withdraw in Bitcoin. Second, this site focuses on two main types of trading: futures contracts and swaps.

The minimum amount to deposit is the minimum amount to trade, which varies depending on the margin you are using as well as the product you are trading. As an example, for XBTUSD with an initial margin of 1%, the minimum amount is $0.01.

There is no fee to deposit or withdraw Bitcoin at BitMEX. It keeps things simple and affordable in this respect. The downside of course is if you want to use other deposit and withdrawal methods.

Ease of Use

BitMEX makes customer service available to traders 24/7. There is a comprehensive knowledge base on its website where you can look up answers to common questions, and if you do not find what you are looking for, you can submit a support request ticket. Regular news and updates are posted and show up in the upper right-hand corner of the platform.

BitMEX user interface is very professional, and was designed to be as simple and streamlined as possible. On the platform across the top, you can see the currently available assets. Click on any one of them, and you can pull up the relevant chart. The charting software is great. There are plenty of indicators you can use along with other charting tools to plan out trades.

At the bottom, you can view your positions, both closed and open, your active orders, stops, fills and order history. Note that there are fees for trading, the details of which can also be viewed here.


The company has pioneered multi signature deposit and withdrawal addresses to ensure the safety of customer funds. Deposits and withdrawals are all individually hand-checked by employees, and private keys are never stored in the cloud. Deposit addresses are externally verified to make sure that they contain matching keys. If they do not, there is an immediate system shutdown.

Other security measures taken by the company include:

  • Multiple forms of authentication are required to access every BitMEX system.
  • The BitMEX trading engine was written in kdb+, the same toolset and database used by major banks.
  • You have the option to activate PGP encryption on automated emails.
  • All funds are kept in cold storage.


BitMEX is recommended for the seasoned professional trader who would like to trade in crypto currency futures and swaps. For the casual trader, the BitMEX interface will pose a steep learning curve. It is functional and provides some fantastic tools for planning trades, but is far from intuitive. Thus, the platform is not considered ideal for beginners.

BitMEX is also considered to be a little “laggy” due to all information on the website, and its high withdrawal fees (0.001 BTC) doesn’t help the cause either. The platform is largely unregulated and does not have the option of a demo account.

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