Bitmex is an exciting trading platform that allows retail investors access to global markets by using bitcoin as the currency.
The exchange does not deal with any other form of currency and all transactions and fees are settled in XBT only. This allows the user to do all transactions anonymously. It is not a place for investors. But if you are an experienced trader, you can get up to 100x leverage on your holdings.
There is a lot of competition in the bitcoin derivative exchange market and Bitmex is one of the largest trading platforms. It has conducted over $35 billion worth of transactions since its inception in 2014.
Created by former bankers, it provides a familiar interface to the experienced traders.
Fee wise, Bitmex has a transparent and simple structure.
For its perpetual contracts, you can have up to 100x leverage with Bitcoins (XBT), the Maker fee is -0.0250% and Taker fee is 0.0750%. The negative sign means the trader will receive a rebate.
Long Funding will be at -0.0341% and Short Funding will attract 0.0341% as a fee. The interval period is 8 hours.
When trading with Ethereum (ETH), you can leverage up to 50x and the Maker and Taker fee will be similar to the bitcoin values.
The Ethereum perpetual contracts attract 0.0270% fee on Long Funding and -0.0270% on Short Funding.
Apart from Bitcoin and Ethereum, you can also trade on Bitcoin Cash (BCH), Cardano (ADA), EOS Token (EOS), Litecoin (LTC), Ripple (XRP) and Tron (TRX) on Traditional Futures.
Each coin has its own set of fee for Margin leverage, Maker and Taker fees.
Apart from bitcoin, all other currencies have zero settlement fees.
Both the Upside Profit Contracts and Downside Profit Contracts attract zero Maker, Taker and settlement fees. And their leverage is only 1x, i.e. whatever you hold.
The exchange does not charge any fees for deposits and withdrawals of bitcoin. However, the bitcoin network processing fees are dynamically set based on the load on the blockchain.
The minimum deposit is 0.001 BTC and can be made at any time of the day. Withdrawals are processed twice a day and involve manual verification to increase the security of your funds.
Note: Bitcoin was known by its short form BTC in the past. Owing to its popularity in the international currency market, the International Standards Organization (ISO) has designated XBT as its universal short form.