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Reviews
Social Scout
See what Social Scout found of BitMEX
Provided by TrustFinance AI Analysis
Social Scout
See what Social Scout found of BitMEX
Provided by TrustFinance AI Analysis
Seychelles
2016 (10 Years)
Last online: No recent activity
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Traffic & Engagement
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This company is currently Unproved.
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License
A Grade License
Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.
B Grade License
Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.
C Grade License
Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.
D Grade License
From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.
Get to know BitMEX
Get to know BitMEX
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AI Review analysis
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Summarization
BitMEX, a prominent cryptocurrency exchange, has carved a significant niche in the digital asset market as a liquidity provider. Founded in 2014 by Arthur Hayes, Samuel Reed, and Ben Delo, the platform initially operated from Hong Kong before relocating its headquarters to the Seychelles. Its history is marked by periods of both rapid growth and regulatory scrutiny. Understanding its background is crucial to assessing its current offerings and overall reliability.
BitMEX operates under a Know Your Customer (KYC) compliance framework, mandating that all users undergo a verification process to confirm their identity. This is a standard practice aimed at preventing illicit activities and enhancing platform security. However, it's essential to note that BitMEX's services are subject to geographic restrictions. Users located in the United States, Hong Kong, Canada (Ontario and Quebec), Russia, and several other jurisdictions are prohibited from accessing the platform's services. This limitation necessitates a thorough review of regional regulations before engaging with the platform.
BitMEX offers a diverse range of products and services catering to sophisticated traders. Its core offerings revolve around leveraging the volatility of the cryptocurrency market, providing opportunities for both profit and substantial risk.
BitMEX’s margin trading functionality allows traders to leverage their capital significantly, magnifying both potential profits and losses. It employs both initial and maintenance margin requirements. Understanding these margins is crucial to avoid liquidation due to insufficient funds.
Leverage: The platform permits leverage of up to 100x on perpetual contracts. This high leverage greatly amplifies returns but also significantly increases the risk of substantial losses, even with minor market movements. This high leverage is not suitable for novice traders.
BitMEX utilizes a maker-taker fee model, rewarding users who add liquidity (makers) with lower fees than those who remove liquidity (takers). The fees are tiered, meaning the fees decrease as the trader's 30-day average daily trading volume (ADV) increases.
| Tier | 30-Day ADV | Maker Fee | Taker Fee |
|---|---|---|---|
| B | < $100,000 | 0.1% | 0.1% |
| I | $100,000 - $500,000 | 0.05% | 0.09% |
| T | $500,000 - $1 million | 0.07% | 0.07% |
| M | $1 million - $10 million | 0.05% | 0.05% |
| E | > $10 million | 0% | 0.035% |
| X | > $25 million | 0% | 0.032% |
Users who stake BMEX tokens receive a 5% annualized staking reward, irrespective of their trading volume or fee tier. This is a significant incentive for long-term holders of BMEX and helps to bolster the token's value and utility within the BitMEX ecosystem.
BitMEX provides customer support through email and a dedicated support page on its website. While email support is standard, the accessibility and responsiveness of the support team are crucial factors in evaluating the platform's overall user experience.
While precise service hours aren't explicitly defined, BitMEX generally maintains a reputation for relatively responsive customer support. The quality and speed of response can vary, however, depending on the complexity of the issue and the volume of support requests. Users should be prepared to provide detailed information when contacting support.
BitMEX is ideally suited for experienced traders comfortable with the complexities and inherent risks of margin trading and derivatives markets. Its high leverage and staking rewards are particularly attractive to active traders who can effectively manage risk.
BitMEX provides a robust platform with advanced trading tools, high leverage, and attractive fee structures for active traders. However, its complexities and regulatory limitations may deter less experienced users. The platform's value proposition is clearly geared towards sophisticated users who can manage the inherent risks associated with its offerings.
