Website: bitmex.com
About company:
The BitMEX cryptocurrency exchange is registered in the Seychelles and has been successfully operating on the market for over 5 years. Its daily trading turnover exceeds 3.5 billion US dollars. The site is designed for professional traders and is considered one of the best for margin trading. A distinctive feature of bitmex.com is that the maximum leverage for BTC is 1:100. Eight currencies are available for trading: bitcoin, bitcoin cash, ethereum, cardano, EOS token, litecoin, tron and ripple. You will learn more about the site in our review. How to trade on BitMEX? Registration on the exchange To create a profile on the bitmex.com website, you only need to specify your first name, last name and email. A link will be sent to your email to complete the registration. Users are not required to verify by sending passport scans and proof of registration. Judging by the reviews, such loyalty does not affect the security of transactions and capital storage.
Basically, the Bitmex exchange only handles the exchange and commercialization of cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and some other currencies. I have used this exchange for a long time, but due to the small number of coins, it is not very active. On the contrary, Bitmex offers many great options, even better than some exchanges used in the past. Fast transaction-Fast and reliable transaction is a trademark of Bitmex. I usually complete my transaction within a second or two. Therefore, I can confidently say that Bitmex offers one of the fastest transactions in the cryptocurrency market. Easy registration: There is nothing that attracts merchants/users except through simple and fast registration exchanges. This is the situation of Bitmex being abused. Registration on Bitmex is fast and easy. You only need an email and prove that the situation is not the case. Such a North American nation. Different currencies I have dealt with: As a trader, I have my own special room, sometimes I exchange Litecoin, Bitcoin and Ethereum, sometimes I exchange Tron. The excellent liquidity I enjoy is largely due to Bitmex’s low fees. Liquidity may be the key issue that makes the exchange unique.The commercialization of leverage is part of this exchange that I really like. When I asked trading experts for advice, they told me about the potential benefits that can be gained through leveraged trading. I’m still researching it to understand the potential benefits, so I will update my review. No exchange is perfect. This shows that each exchange contains specific flaws in a particular technology, and the exchange gives the impression that it is intended to abuse basic and subordinate programming. In short, the interface is not attractive at all. Bitmex only allows users to trade through their desktop. For me, because I started using Bitmex for commercialization, I didn’t have a desktop computerexchange
Fishy stuff, hard to trust this project.
Bitmex exchange is a platform for futures trading or commonly called margin trading. There are several types of trading that are allowed on this platform.
The platform offers a variety of contract types, for example
Futures and Swap trading (isolated margin trading & cross trading), perpetual contract, and others.
I will not discuss the types of trading types above, I will discuss about my bad experience trading Futures on bitmex. Last year I bought bitcoin for 0.34 BTC and deposited my btc to bitmex.
There I made Futures trading, bought 1290 contract at 3706 USD, and my short contract would be liquidated at $ 8500 Strangely, before the market touched $8500 my position was liquidated by the Bitmex system. I lost 0.34 BTC and it also doesnt respect my stoploss, even though the liquidation rate had not been reached.
However, if we look at 24 hour highs, there is no record of 8500 at that date.
This shows that bitmex is not a genuine exchange that moves according to the market and price index! What bitmex has destroyed my trust as a customer.
And I don’t think I’m the first to experience this cheating. A Professor named Robbini also said that in this exchange large amounts of money were laundered and said that bitmex was not compliant with the anti-money laundering (AML) and Know Your Customer (KYC) regulations and violated securities regulations.
The US Commodity Futures Trading Commission (CFTC) investigated bitmex last year in July 2019 and bitmex finally blocked the area of the USA, several provinces of America, Hong Kong, Bermuda and other areas. For traders who want to benefit from margin trading, it’s better to look for a platform that is more honest than bitmex. Although the volume of bitmex is still above 30,000 bitcoin and there are still many who play trading on bitmex, but I hope my review can be a consideration for beginners to recognize the risks of trading on bitmex.
Been using bitMEX for a while and things were going okay. But recently they started acting rather strange. They closed my trades and liquidated my account even though I had SL’s way beyond anywhere to clear me out. I reached out to them and they kept stalling for weeks. While I was rather hesitant to believe I had been scammed, I proceeded to make a recovery claim as I didn’t want to take any chances. To my amazement, the FCA put out a warning on them last month. Quite sad but at least I took action before it was too late. Stay clear
I was just in a long trade.
I had got in at 8264 and expected it to go up. Per my trading view graph, bitcoin went up to 8350 but on the bitmex website, their graph (which I also had live and open) had only showed that it had went up to 8276. Therefore my “take profit” alert was not triggered and I did not make any profit for the trade. They are blatant scammers!
I wish I could upload the screen shots. I will report them to the FCA as I have sufficient proof!
The worst thing is that there is nothing that you can do about it. They are based in the Seychelles with very few ethical laws! It also explains why American citizens can not use the platform without a VPN.
My advise: learn from me – join a reputable company like IG instead of bitmex.
Scam site, they locked out of my account for no reason they stole a lot of btc from me… No response at all scammers!!!!!
Bitmax is one of the most used exchanges for day traders and lavarege traders it provides anonymity, high volume and security that is needed however the restriction of us citizens from participating in trading is real. The interface is very simple and super easy to use if you know a bit about trading there are plenty of tools to trade with. We can also trade a few altcoins there. After registration we get 10% of discount for 6 moths from fees the fee is from 0.25%.Bitmax don’t have mobile app which maybe can be annoying for some people but overall I can recommend that exchange