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High leverage up to 1:100
High security
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BitMEX review 2024

Investing options: 3.4

Platforms & usability: 3.7

Products, markets, & assets: 3.2

Safety & reliability: 4.1

Deposits & withdrawals: 3.1

Research & analysis tools: 2.8

Fees & costs: 3.5

Education & learning resources: 2.7

BitMEX review Summary

Updated: Jun 29, 2023
9 min read
BitMEX is a cryptocurrency trading platform that specialises in Bitcoin. It offers some of the most advanced features of any crypto exchange, including derivatives trading on other coins.

BitMEX is one of the largest Bitcoin trading exchange sites. The platform is aimed at more experienced traders rather than beginners, as it only accepts deposits in Bitcoin, and assumes you understand enough to use the advanced features without much of a walkthrough. Our reviews provide expert opinion the service. 

What can I do with BitMEX? 

Trade cryptocurrency derivatives with ultra-low minimum deposit requirements, low trading costs, and leverage up to 1:100. A lot of BitMEX’s features are geared towards professional traders, like a customisable trading dashboard, stop-limit order types, and other advanced trading methods.

Founded in 2014, BitMEX is one of the most popular crypto-only trading sites around. All of its trading is done in Bitcoin, and any profits you make are paid in Bitcoin. It lets traders use derivatives to speculate on the performance of other coins.

Pros & Cons


High leverage up to 1:100
High security
Supports anonymity
Full package of order types (market, stop-loss, conditional)


Can I open an account with BitMEX?

BitMEX cryptocurrencies and trading options

Which cryptocurrencies can you trade on BitMEX?

Despite its advanced features, the number of coins you can trade is quite limited. There are just 12 available alongside Bitcoin and these are restricted to the top options, like Ethereum, Litecoin, and Chainlink.

BitMEX core currency pairs


All BitMEX trading options

BitMEX offers a range of different cryptocurrency pairs and futures, such as BTC/USD, BCH/USD, and various different futures contracts. You can find out more about what’s on offer in the table below.

Crypto pairs16
Bitcoin futures2
Ethereum Futures2
Other Futures8
See all trading options >

Can I trade with leverage on BitMEX?

Yes, BitMEX offers up to 1:100 leverage, which is in line with industry standards for cryptocurrency trading

Please note that using leverage carries a high degree of risk to your capital; it is possible to lose more than your initial investment, and you should only speculate with money you can afford to lose. We advise beginners not to use leverage at all until they have more experience.

ProductMaximum leverageMargin
Individual cryptocurrencies1:1001%
Bitcoin futures1:1001%
Bitcoin Cash futures1:254%
Chainlink futures1:502%
Ethereum futures1:502%
Litecoin futures1:502%
Ripple futures1:333%
See all leverage trading options >

What are the spreads? 

BitMEX does not charge trade spreads, but rather maker, taker and leverage funding fees on each transaction, ranging from 0.025% on the maker/taker side to 0.01% on the funding end. 

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Fees, limits, and payment options on BitMEX

BitMEX doesn’t charge any fees for deposits or withdrawals from its platform. The only associated costs are based on the network fee, which is calculated by the blockchain itself. 

Payment methodDepositWithdraw
Cryptocurrency (Bitcoin)FreeFree
See all payment methods >

How much are BitMEX’s fees and commissions? 

BitMEX charges a combination of maker, taker, long/short-term leverage funding, and settlement fees on trading activity. Such charges are commonplace for futures contract trading.

Fee typeFee amountCommission
Crypto futures0.025%-0.075% maker/taker feesNone
See full fee structure >

BitMEX trade sizes and limits

BitMEX offers an ultra low minimum trade amount of 0.0001 Bitcoin on all futures contract trading. This is low compared to the industry overall, which usually imposes a higher dollar minimum.

ProductMinimum tradeMaximum trade
Crypto futures0.0001 XBTNone
See all trading limits >
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BitMEX trading platform 

What devices can I use BitMEX on? 

BitMEX’s global derivative trading platform was originally designed for desktop traders, but it has since developed an iOS and Android crypto trading app which provides access to its full range of features.

  • Desktop
  • Laptop
  • iOS mobile devices and tablets
  • Android mobile devices and tablets

Can I use BitMEX in my country? 

BitMEX accepts clients from over 140 countries and territories worldwide, excepting those with specific trading regulations and laws such as the US. It should be noted here that BitMEX’s US trade restriction follows an investigation by the US Commodity Futures Trading Commission (CFTC) this past summer, as BitMEX is not registered with the CFTC.

Select your country from the list below to see if it is available to you.

Is BitMEX available in my language? 

Currently BitMEX offers support in eight different languages, including, English, Russian, Chinese, and Japanese. Select your language from the list below to see if the service is available to you.

How easy is it to use BitMEX? 

BitMEX acts more like a margin trading exchange than a pure crypto broker, as you don’t buy crypto but instead speculate on it with derivatives.

Based on initial appearance – its homepage is essentially a trading screen. BitMEX is more geared toward the intermediate/advanced trader, who can simply login and start trading without any assistance or tutorials.

It’s advanced trading features such as risk limits, iceberg orders and high maximum leverage of 100x speak to this and are easy to use if you are already familiar with futures trading.

Key features 

BitMEX is a solid platform for professional traders. Here are some of the main features traders will appreciate.

Advanced API

The company’s trading engine was built with the same technology as what’s used by investment banks and hedge funds, meaning you can build your own custom interface and layout from this base.

Demo Account

BitMEX offers a TestNet test server to try out the platform for free and test your trading strategies without any risk.

Cold wallet security 

All BitMEX addresses are multi-signature and all coin storage is kept offline for added security.

Security and regulation 

Is BitMEX safe? 

BitMEX protects users’ accounts by implementing 2FA (Two Factor Authentication). Additionally, BitMEX provides the option of IP Pinning so that users are immediately notified if a suspicious login has been made from a new IP address.

The platform claims to carry out up to 100 audits per second to protect funds traded through their exchange. 

Am I and my funds protected? 

BitMEX stores nearly all user funds in deep cold storage and no private keys are kept on any cloud server to ensure maximum protection. This way, your funds can never be accessed online by anyone except you with two-factor authentication, and any withdrawal request is manually verified by two BitMEX employees before being approved. 

BitMEX is not self-insured nor is it insured by any third-party.

Is BitMEX regulated? 

BitMEX is an authorised and regulated broker in the Republic of Seychelles as part of the International Business Companies Act of 1994, under the unique registering number 148707. 

BitMEX is not regulated by any other international agency and is currently under investigation both by the US CFTC and UK FCA for allowing traders within these countries to access and trade on their platform.

Do I have to verify my account with BitMEX? 

One of the major selling points of BitMEX when it originally launched in 2014 was that traders could trade anonymously, without undergoing any verification process. However, in light of accusations that the company failed to provide efficient measures against money laundering, BitMEX now operates a KYC (Know Your Customer) program, which means you have to provide a form of ID to trade.

Extra information 

Educational resources 

Designed specifically for professional traders, BitMEX provides limited educational resources for its users. 

On its homepage, at the bottom, under the “Reference” button, you will notice three guides to help you better understand trading – Futures Guide, Perpetuals Guide, and Trading on BitMEX. There is also a blog section that is updated regularly where you can find additional information about trading options on BitMEX.

Tools and charting 

Some of the most popular tools BitMEX offers its customers include risk limits, advanced order types, and fair price marking which works to prevent unnecessary liquidations in its highly leveraged products.

Beyond this, BitMEX’s platform customisation options to add, close or change features are its most commonly used.

Customer support 

BitMEX’s customer support is responsive and it has a high online rating. It is available in English, Chinese, Russian, Korean, and Japanese via email only. 

BitMEX doesn’t offer a direct phone line or live chat option for customers to contact. However, you will find a detailed FAQ section to answer all common questions. 

Our verdict 

In only six years, BitMEX has become one of the biggest online trading platforms for cryptocurrency futures. 

It is designed with the intermediate/advanced trader in mind, so you will only find limited learning resources available, apart from some simple introductory guides. Perhaps for this reason, BitMEX has developed its own proprietary trading platform with built-in customisable risk limits, advanced order types such as conditional and limit orders, and cross margin.

Even without being regulated by any tier 1 financial regulator, BitMEX has put in place state of the art security measures -such as a first-of-its-kind multisignature deposit and withdrawal scheme, optional PGP encryption for all automated emails from the platform, and KYC/AML procedures. BitMEX has a lot to offer professional traders, as well as those who want to become one.

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How to buy and sell cryptocurrency on BitMEX

How do I buy on BitMEX? 

  1. Log into your BitMEX account
  2. Go to the Trade tab, 
  3. Navigate to the “Place Order” section 
  4. Specify the quantity and price
  5. Click the “Buy” button to place your order

How do I sell on BitMEX? 

To start trading with BitMEX you first have to deposit Bitcoin into your wallet. The minimum deposit to start trading is 0.0001 Bitcoin (XBT). 

  1. Log into your BitMEX account and click the “Trade” link on the top left of the page
  2. Select your preferred currency
  3. On the left side, you will see a heading named “Sell” and select the type of order you wish to perform. 
  4. Click the “Sell” button to place your order. 
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Who owns BitMEX?
How does BitMEX make money?
Do I have to pay tax on BitMEX profits?
How do I delete my BitMEX account?
How can I short on BitMEX?
What if I forget my account password?
Can I transfer from my BitMEX account into my PayPal account?
What if BitMEX closes down while I have open trades?
Can I access my full trading history on BitMEX?
Can I pay in cryptocurrency with BitMEX?
Does BitMEX offer bonuses?
How do I transfer from Coinbase to BitMEX?
Is BitMEX anonymous?
Does BitMEX have an integrated wallet?
How do I withdraw from BitMEX?
Has BitMEX ever been hacked?

Sources & references
Risk disclaimer
Theodor Tonca
Financial Writer
Theodor is a Financial Writer for Invezz, reviewing, testing and scrutinizing financial products. He is a former financial analyst and investment partnership founder with over 10... read more.