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 crypto 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.

It maintains a flat account structure, offering the same trading features and fee model to all users, regardless of their trading volume. Unlike exchanges that implement VIP tiers or token-based discounts, BitMEX does not operate such a system.

However, institutional clients may request custom setups, including enhanced API limits and operational support.

Commissions And Costs

BitMEX operates with a low-cost fee structure tailored for spot and derivative traders. It charges a taker fee of 0.075%, while market makers often benefit from rebates or extremely low maker fees.

Deposits in Bitcoin (BTC) and Tether (USDT) are free, and withdrawal costs vary depending on the blockchain network congestion.

Here's a breakdown of BitMEX's commissions and costs in 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+ cryptocurrencies at the time of writing this review, based on our conversation with the support team.

The exchange supports a focused selection of cryptocurrencies, primarily catering to traders of derivatives. Users can trade popular assets, including Bitcoin (XBT), Ethereum (ETH), Litecoin (LTC), and XRP.

In addition to these, the platform provides access to perpetual swaps and futures on a broader set of tokens, expanding exposure without requiring the user to hold the underlying asset. 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 and 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 at the cost of a higher risk.

Signing Up and Authorization

BitMEX has implemented a 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 Exchange's Website

Head to the BitMEX official website and click "Sign Up" to reach the sign up form.

Click the "Sign Up" button and enter the registration form on BitMEX

#2 Complete the Registration Form

Enter the following information on the application form:

• Email address
• Password
• Country of residence

Check the captcha and confirm the statement below the form.

#3 BitMEX Verification

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
• BitMEX Android
• BitMEX 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 maintained a robust security track record, relying on cold wallet storage, multi-signature transaction protocols, and manual withdrawal review processes. These systems have helped the platform avoid major breaches.

However, its compliance history includes regulatory settlements, highlighting the need for transparency and continual governance improvements.

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 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 Trustpilot and 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);
• Reviews.io: 1.8/5, based on more than 70 ratings, 16% of reviewers recommend the platform;
• BitMEX CoinGecko: 7/10, evaluated by an algorithm developed by CoinGecko.

BitMEX Features

Does BitMEX offer copy trading, staking, or other special services?

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

BitMEX vs Other Exchanges

The table below compares BitMEX features with other crypto exchanges:

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.