BitMEX Review 2025

BitMEX is a crypto exchange founded by Arthur Hayes, Samuel Reed, and Ben Delo, with +110 coins/tokens for futures, margin, and spot trading.

The platform, with its domain registered in 2003, has received a 7/10 trust score on the CoinGecko website.

BitMEX Information + Regulation

BitMEX was established in 2014 in Hong Kong by Arthur Hayes, Samuel Reed, and Ben Delo.

The exchange is owned by HDR Global Trading Limited and is registered in the Seychelles.

At the time of writing this article, the exchange's 24-hour trading volume is less than $200,000.

Summary of Specifications and Details

Here's a concise overview of BitMEX's features and specifics in its services and aspects:

Notable Advantages and Disadvantages

BitMEX, similar to many other exchanges, offers several advantages for cryptocurrency traders, but it's important to consider both the pros and cons before using the platform:

User Levels

Verification levels are found in some platforms for determining the limitations of an account based on its authorization status.

Based on the data from the official website and our chats with the support team, BitMEX doesn't employ any leveling system for verified users.

In other words, all users are required to complete the verification process.

Commissions And Costs

Knowing about the fees is important when choosing a cryptocurrency trading platform.

Here's a breakdown of BitMEX's commissions and costs in the spot trading:

You can see the fees for derivatives in the table below:

As stated by the platform, there are no costs on deposits and withdrawals.

How Many Tradable Coins and Tokens Are Available?

BitMEX is one of those exchanges with an average list of asset offerings, providing access to +110 choices at the time of writing this review, based on our conversation with the support team.

Here are some of the available cryptocurrencies:

• Bitcoin [BTC];
• BitMEX Native Token [BMEX];
• Avalanche [AVAX];
• Pepe [PEPE];
• Cardano [ADA];
• Litecoin [LTC];
• Axie Infinity [AXS].

Note that the list of available assets on the spot market is much shorter compared to the derivatives.

Futures and Margin Trading

BitMEX Exchange offers two types of margin trading [isolated, cross-margin.], with a leverage of up to 100x on some assets, including Bitcoin.

The leverage makes it possible for traders to amplify their potential profit in the cost of a higher risk.

Signing Up and Authorization

BitMEX has implemented stringent verification process to ensure compliance with regulatory requirements.

However, the registration process is still simple and quick. Here's your guide:

1. Visit the official website at [www.bitmex.com];
2. Click "Sign Up";
3. Enter your email address, create a password, and choose your country of residence;
4. Check the captcha and confirm the statement below the form.

Now, your account on the exchange is ready. For verification, follow these steps:

1. Choose your account type in the next page, then click "Get Started;"
2. Provide personal details, including your full name, date of birth, nationality, and birthplace;
3. Upload proof of identity;
4. Answer the questionnaire.

BitMEX Trading Platform

This company takes a typical approach toward the trading facility for its users, but offers advanced features that are suitable for professional traders on its platform. The terminal is available via these systems:

• Web;
• Android;
• iOS.

The application hasn’t received any reviews on the Apple App Store, and has seen under 600 ratings on the Google Play Store, averaging 4.7 out of 5.

Safety Measurements

BitMEX has implemented several security enhancements to protect user assets and maintain the integrity of its platform.

Here's a detailed look at their security features:

Track Record:

• No customer funds lost since inception in 2014;
• Strong focus on security and reliability.

Intrusion Proof Measures:

• Positions and margins checked multiple times per minute;
• Balances cross-checked against on-chain records every 10 minutes;
• Bug bounty program to identify and address security issues.

Bitcoin Custody:

• Multi-signature wallets used;
• Set of private keys required for any transfers;
• Private keys never stored on cloud servers.

Custody for Other Assets:

• Non-Bitcoin assets secured using secure multi-party computation (MPC);
• No single private key held in one place.

Transaction Protection:

• Multiple layers of security;
• Segregation of duties;
• Multiple signatures and interactions with hardware security modules required.

Segregation of Funds:

• Client funds securely segregated from company assets;
• Ring-fenced and not lent, staked, or traded.

Insurance Fund:

• One of the highest insurance funds in the industry;
• Protects traders from deleveraging events;
• Ensures exchange solvency.

Funding Options and Methods

BitMEX primarily operates as a crypto-to-crypto exchange, with Bitcoin (BTC) serving as the main currency for deposits and withdrawals.

Therefore, there's no option for making any fiat deposits on the platform.

BitMEX Trust Scores

Evaluations from various review platforms such as the Trustpilot and the CoinGecko present a mixed picture of user satisfaction and platform reliability. Let's look at the details:

• Trustpilot: 2.2/5, with +60 reviews (+60% 1-star ratings);
• io: 1.8/5, based on more than 70 ratings, 16% of reviewers recommend the platform;
• CoinGecko: 7/10, evaluated by an algorithm developed by CoinGecko.

Support Options and Schedule

BitMEX offers the same level of support services as most of other crypto platforms in the industry, with 3 main contact channels:

• Live Chat: Available for everyone on the website;
• Email: support@bitmex.com;
• Ticket: Submittable via the "Contact Support" page.

The company offers its support services in English, Chinese, Turkish, and Russian, 24/7.

Copy Trading and Other Investment Services on BitMEX Exchange

One of the attractive additional features in the crypto exchanges industry is the possibility to earn passive income besides the profits from trading.

The mentioned exchange provides access to "bots" as a way of automating the trading process and making passive profits through it.

The platform lists bots with essential statistics and parameters. You can filter the list based on the contract type, direction, interval, strategy, indicator, and creator.

Which Countries and Regions are Restricted from the Exchange's services?

The company offers its services to most regions across the globe, but some countries are banned from the exchange's services. Here is a list of some of these regions:

• United States;
• Cuba;
• Iran;
• Syria;
• North Korea;
• Crimea and Sevastopol;
• Seychelles;
• Bermuda;
• Hong Kong SAR;
• Canada;
• Myanmar;
• Russia;
• And more.

Writer's Final Words

BitMEX charges fees ranging from 0.045% to 0.1% for spot trading and commissions in the range of 0.032% to 0.05%.

The fee is dependent on the user's trading volume in the last 30 days. All users on this platform must complete the verification and there's no tier system for KYC.