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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 platform that offers Bitcoin derivatives trading is Margex. This Margex review will take a closer look at the platform to see if it's worth using.
Margex is a Bitcoin derivatives exchange that offers up to 100x leverage trading. It has a powerful trading engine for its traders to long or short the Bitcoin market with rapid trade execution speeds to take advantage of price volatility. We found the exchange to be a suitable choice to margin trade Bitcoin, particularly for individuals that want to use a crypto exchange without KYC.
However, the benefits stopped there as the lack of trading pairs in addition to a basic user interface were limitations. Overall, there are better places to trade crypto with margin than Margex.
- Bitcoin-only focused trading exchange
- No KYC to get started
- Competitive trading fees in the market
- Up to 100x leverage available on BTC pairs
- Not supported or regulated in the United States
- Spot exchange lacks trading volume and liquidity
- Platform does not offer a wide range of crypto products and services
Margex At A Glance
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 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.
Some notable features that we will assess in this review are:
- Easy to use
- Trade USD crypto pairs using BTC as collateral
- Up to 100x isolated margin trading
- Combined liquidity of 12+
exchanges in one place
- Comparable trading fees
- Price manipulation protection
- Powerful charting by TradingView
|Supported Cryptocurrency||BTC, ETH, LTC, XRP, EOS & YFI & 4 others|
|Fiat Gateway||Yes (via third-party only)|
|Leverage||Up to 100x|
|Trading Fee||0.19% (maker) and 0.06% (taker)|
|Withdrawal Fee||Crypto standard network fee|
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|331 (608 trading pairs)||0% (spot), 0.06% / 0.01% (futures)|
|0% trading fees for 30 days (spot only)||Visit ByBit||ByBit Review|
|385||0.1% (spot) and 0.02% / 0.04% (Futures)|
|Up to $100 welcome bonus||Visit Binance||Binance Review|
|Up to 500 USDT in bonuses||Visit KuCoin||KuCoin Review|
Review of the top Features on Margex
Margex offers a user interface that is simple, elegant and easy to follow. The derivatives product will allow individuals to speculate on future BTC prices by longing or short selling Bitcoin with leverage to make potential returns or hedge against volatility.
Moreover, Margex is one of the leading no KYC crypto exchanges that enables users to deposit Bitcoin and begin trading with leverage. 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.
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.
Trading crypto with leverage can be risky due to the highly volatile asset class that can result in sudden fluctuations in price movements and 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 its own Price Manipulation System to monitor the consistency of prices using algorithms from its 12 liquidity partners.
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.
Traders can fund a Margex wallet with crypto by transferring Bitcoin from a hardware wallet or fiat-to-crypto exchange such as Coinbase, Kraken, Gemini or Coinzoom which accepts fiat currency deposits. This is the quickest and easiest way to deposit money to Margex by copying the QR code or BTC address to send funds to.
For users who 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.
Having the ability to purchase Bitcoin using a credit card 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.
The charting user interface is an important aspect of any derivatives exchange, as this is where traders will spend the majority of their time.
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 for other cryptocurrency trading exchanges.
Margex provides a standard offering of order types to manage risk being limit, market and stop-limit orders. A great feature is an 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.
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 are based on a maker and taker model with fees at 0.19% and 0.060% respectively. The trading fees are higher compared to similar leverage trading exchanges such as Tokenize, BexPlus and Dsdaq.
Margex does not offer fee discounts offered based on trading volume or trading with the platform's native token, such as on Binance, Bybit and Kraken. However, users can participate in marketing campaigns to earn bonuses which can be used to pay trade fees and funding.
|Trading Pair||Fees (Maker / Taker)|
|BTC/USD||0.019% / 0.06%|
|ETH/USD||0.019% / 0.06%|
|EOS/USD||0.019% / 0.06%|
|LTC/USD||0.019% / 0.06%|
|XRP/USD||0.019% / 0.06%|
|YFI/USD||0.019% / 0.06%|
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.
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 are processed once a day
- Realtime monitoring and alerts of assets
- SSL encryption to protect user's information
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
Margex has several security features in place to secure client information and funds which include the use of a 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 have occurred to date.
No, Margex does not support users from the United States due to regulatory restrictions. Citizens from the United States will need to find a cryptocurrency exchange that is supported in the US.
Yes, Margex has released a new demo trading feature for new users to practice trading with leverage using virtual funds. No deposit is required to use the demo mode, however, the account is funded with only $100. For an alternate list of crypto exchanges with a demo mode, read this comparison list.
Existing Margex traders can earn 40% of referred users trading commissions by sharing a unique referral link with family and friends.
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 users who want to learn how to trade with leverage. There are no complicated features or distractions. However, for a wider selection of trading pairs and advanced trading features, users may want to consider using Binance or FTX.
|Review Category||HedgewithCrypto Rating|
|Features||4.1 / 5|
|Supported Fiat Currencies and Deposit Methods||4.5 / 5|
|Supported Cryptocurrencies and Trading Pairs||3 / 5|
|Fees||4 / 5|
|Ease of Use||4.8 / 5|
|Customer Support||4.6 / 5|
|Security Measures||4.5 / 5|
|Mobile App||2.5 / 5|