Margex Review: Crypto, Trading & Fees

Speculating on digital currencies using leveraged trading exchanges has surged in popularity in recent years. This allows traders to long or short the crypto market with leverage up to 100:1 to maximize potential profits.

A new cryptocurrency exchange that has launched that offers Bitcoin derivatives trading is Margex.

While we aim to provide you with accurate and the latest information in this Margex review, we strongly suggest that you visit the website to keep updated with any changes that may occur afterward.

Key  Features:

  • Easy to use and beginner-friendly
  • Trade USD crypto pairs using BTC as collateral
  • Up to 100x isolated margin trading
  • Combined liquidity of 12+
    exchanges in one place
  • Competitive trading fees
  • Price manipulation protection
  • 2 Factor account security
  • Generous 40% affiliate program

overall 

4.0/5

Ease of use

User interface

Fees

Security

Before diving into this review, it is highly recommended to use a hardware wallet such as the Ledger Nano X when buying Bitcoin, Ethereum, Litecoin or other coins. The ownership of crypto assets remains in the investor's possession and control, not the exchange. Read our guide on the best Bitcoin wallets for more information. 

What Is Margex?

Margex is a new digital asset and investment platform that has been designed to provide a fair, transparent and secure exchange for trading. The cryptocurrency trading exchange's primary offering is a Bitcoin-based derivatives market which allows its users to trade long (buy) or short (sell) cryptocurrency pairs with leverage up to 100:1.

margex website

Margex exchange works by combining the liquidity of 12 other popular leverage exchanges in one place resulting in deep liquidity and their $40M order book depth. Users can trade popular digital futures coins using a modern, user-friendly interface and with competitive fees.

Margex Compared

Advanced features, an intuitive user interface and high leverage trading are important features on Margex. This comparison table lists other top-rated crypto exchanges like Margex that offer world-class features. 

Exchange

Fees

Rating

Our Review

Promotion

Website

binance

0.1%

4.8 / 5

Get 10% off trading fees

BYBIT

0.025% / 0.075%

4.7 / 5

$50 for first time deposit >0.2BTC

etoro

Spread only

4.6 / 5

No promotion available at this time

Features & Services

Easy To Use

Margex offers a user interface that is simple, elegant and easy to follow. While margin trading is not always best for beginners, the derivatives exchange suits a wide variety of individuals with varying levels of experience to be able to create an account and begin speculating on digital currencies.

margex create account

No KYC Required

Margex is a derivatives exchange that accepts cryptocurrency deposits in Bitcoin only. As the platform does not allow the transfer of fiat money, there is no requirement to submit personnel information, upload identity documents or complete the Know Your Customer (KYC) process. 

100x Leverage Trading

Margex specializes in leverage trading and offers up to 100:1 isolated margin positions to maximize potential profits. The exchange uses isolated margin that informs the trader of the liquidation price and amount of funds at risk before placing a trade. Note: not suitable for everyone.

Protection Against Price Manipulation

Trading crypto with leverage can be risky due to the highly volatile asset class that can result in sudden fluctuations in price movements and also price manipulation of low liquidity trading pairs. Price manipulation was a common problem on exchanges like BitMEX. Margex solves this risk by not offering illiquid assets and their own Price Manipulation System to monitor the consistency of prices using algorithms from its 12 liquidity partners.

margex price manipulation

Is Margex Safe?

Margex is a new leverage exchange and is too early to call whether it is a safe place to trading cryptocurrencies. However, there appears to be several security features in place to secure client information and funds which include the use of multi-sig withdrawal process, offline cold wallet storage and two-factor authentication. Based on our research, there have been no major security incidents, hacks or system compromises that have occurred to date.

Creating An Account

To create an account with Margex, users will need to go through a registration process to create a trading account. Margex exchange will prompt for a valid email address which will need to be confirmed. Once completed, traders can log in to the exchange and explore the trading interface. There is no requirement to complete KYC for depositing funds. 

Depositing Funds

Traders can fund a Margex wallet with crypto by transferring Bitcoin from a hardware wallet or fiat-to-crypto exchange such as Coinbase that accepts fiat currency. This is the quickest and easiest way to deposit money to Margex by copying the QR code or BTC address to send funds to.

margex deposit funds

For users that do not own any Bitcoin and want to start trading immediately, Margex provides the option to purchase Bitcoin directly on the platform. This feature is provided through an integration with Changelly, a popular fiat to crypto exchange and instant swap platform.

The ability to purchase Bitcoin using a credit card (VISA or Mastercard) is a useful feature to quickly top up a trading account to meet the minimum margin requirements. The minimum purchase is USD $100 or the equivalent amount in Euros.

User Interface

The charting user interface is an important aspect for any derivatives exchange, as this is where traders will spend the majority of their time. Taking a deeper look at Margex, the charting package appears to have been designed to suit beginners and advanced traders. To view a live demo of trading experience, click here.

margex trading interface

The charting features such as the drawing tools and indicators are provided by TradingView, which is one of the best crypto charting sites in the industry. The integration allows Margex user's to right-click the chart to change the time frame, add indicators and customize the scale.

Examples of indicators that can be added include moving averages, stochastics, Bollinger bands and many more. Switching between pairs does not remove the chart analysis, which is a frustration on other cryptocurrency trading exchanges.

margex positions

Margex provides a standard offering of order types to manage risk being limit, market and stop-limit orders. A great feature is the ability to simultaneously place a stop loss and take profit order for each trade which is not offered on some trading platforms.

The price chart, order book, order entry, positions and pending order windows are well laid out. The supported crypto pairs are located along the top to quickly switch between trading pairs with the chart in the middle. 

Trading Pairs

Margex derivatives exchange supports trading the 5 major crypto assets such as BTC, ETH, LTC, XRP, EOS and YFI. Each futures contract is traded against the USD pair using Bitcoin as collateral. The number of pairs is quite limited, however, these are currently the most popular derivatives pairs to trade.

Pricing & Fees

There are no costs to create an account with Margex or to maintain a wallet. The exchange charges a trading fee for buy and sell positions that is based on a maker and taker model with fees at 0.19% and 0.060% respectively. The trading fees are competitive compared to other leverage trading exchange.

Margex does not offer fee discounts offered based on trading volume or trading with the platform's native token, such as on BinanceBybit and FTX. However, users can participate in marketing campaigns to earn bonuses which can be used to pay trade fees and funding.

Pair

Maker

Taker

BTC/USD

0.019%

0.060%

ETH/USD

0.019%

0.060%

EOS/USD

0.019%

0.060%

LTC/USD

0.019%

0.060%

XRP/USD

0.019%

0.060%

YFI/USD

0.019%

0.060%

Margex also charges an overnight financing fee (also referred to as Funding) for holding a position over a 24 hour period. The funding fees vary for long and short positions based on market conditions. The cost is added to the account for holding a position after every 8 hour period. Visit the website for a list of the funding fees for each trading pair.

Security

The Margex website provides information on the number of security features that are implemented to protect its client's information and funds. A multi-layered security approach is used to mitigate the risk of hacks, theft and fraudulent activity. A few of the listed protection measures include:

  • 2 Factor Authentication (2FA)
  • 100% of assets are stored in multi-sig cold wallets
  • Email confirmation for withdrawal requests
  • Withdrawals processed once a day
  • Realtime monitoring and alerts of assets
  • SSL encryption to protect user's information

Supported Countries

Margex is available worldwide in countries such as the UK, Australia, Singapore and New Zealand for users to trade cryptocurrency Futures contracts with leverage. 

The following countries are not supported such as the United States of America (including, Puerto Rico and the U.S. Virgin Islands), the province of Ontario in Canada, the province of Québec in Canada, the Hong Kong Special Administrative Region of the People’s Republic of China, the Republic of Seychelles, Bermuda, Cuba, Crimea and Sevastopol, Iran, Syria, North Korea or Sudan and Afghanistan.

Frequently Asked Questions

Does Margex Have A Referral Program?

Existing Margex traders can earn 40% of referred users trading commissions by sharing a unique referral link with family and friends. Any users can be an affiliate with Margex and start earning free crypto.

Can You Demo Trade With Margex?

There is no demo account for new users to practice trading with leverage using virtual funds. Traders will need to find a demo platform that allows cryptocurrency trading such as eToro and Plus500.

Is Margex Available In The US?

Margex does not support users from the United States due to regulatory restrictions. Traders from this region will need to find a cryptocurrency exchange in the USA.

Conclusion

To conclude our Margex review, the platform offers a simple, yet powerful trading exchange for leverage trading popular digital currency pairs. Users can increase their potential for profit with 100x leverage to long or short the market.

Overall, Margex is a solid exchange for beginners that want to learn how to trade with leverage. There are no complicated features or distractions. However, for a wider selection of trading pairs an advanced trading features, users may want to consider using Binance or FTX.

Risk management tools and platform features are very important for any prospective cryptocurrency investor. The following cryptocurrency trading exchanges - in addition to the above exchange - provide advanced trading features, technical indicators and a smooth, mobile-responsive charting interface that will be suited to beginners and professional crypto traders. 

  1. Gate.io
  2. DueDEX
  3. Crypto.com
  4. Bitmart
  5. Digifinex
  6. Luno
  7. Bityard
  8. BTC Markets
  9. PrimeXBT
  10. StormGain

Margex

4

Ease of use

4.3/5

Reputation

3.5/5

Trading fees

4.3/5

Security

4.0/5

Customer support

4.0/5

Pros

  • Beginner-friendly trading platform
  • No KYC required to begin trading
  • Competitive trading fees
  • Margin trade Bitcoin with 100x leverage
  • TradingView charts

Cons

  • Limited number of crypto pairs
  • Not supported in the United States
  • Relatively new exchange
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Kevin
Kevin is the founder of hedgewithcrypto and is passionate about blockchain technology. He has been involved with Bitcoin since 2016 after discovering it's potential as an alternative to fiat currency. He is also a trader with over 8 years of experience and is now trading crypto using various platforms. Now, he is focussed on helping others learn about cryptocurrencies via hedgewithcrypto.