Bitmex Trading Platform – Review, Top Features, Set-up Process, Benefits & more
Last Updated Date: Aug 31, 2023Check out all details about Bitmex Trading Platform here. Bitmex is one of the most popular online exchanges, especially for Bitcoin and cryptocurrency trading.
Bitcoin is also known as Bitcoin mercantile exchange, and the trading platform claims to offer a margin trading experience.
The platform is suitable for both beginners and professional traders.
Under this platform, the traders can essentially buy and sell contracts regarding cryptocurrencies mixed with margin trading.
Traders must know that cryptocurrencies go beyond coins.
The main aim of the platform is to supply contracts for different cryptocurrencies, but it tends to work mainly on withdrawals and deposits.
The Bitmex trading platform is ideal for experienced traders.
About Bitmex Trading Platform
In 2014, Arthur Hayes, Ben Delo, and Samuel Reed had found the platform.
Ideally, in the crypto trading market, the Bitmex trading platform is one of the early movers.
The peer-to-peer trading platform has its headquarters in Seychelles, and it mainly offers leverage trading.
The trading platform allows traders to purchase perpetual contract products, but traders can only use Bitcoins to trade here.
The best part is that it claims to offer anonymity to the traders with regard to the order book.
But to place orders, all the traders must complete their KYC process.
The traders always need to check the current contracts available at the Bitmex trading platform as the trading platform tends to change and update the available contracts.
Bitmex offers a wide range of professional tools that are a great help to professional traders. Additionally, canceling orders is relatively easy here.
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Bitmex Trading Platform – Top Features
Besides the typical features, the Bitmex trading platform offers extensive features to traders.
It also includes iceberg orders like fill or kills or canceling the rankings in no time. Bitmex is an ideal choice for traders if they are willing to take high risks.
The best part about this platform is that traders use their leverage instantly.
Open positions can be managed in no time
The traders can literally swipe from one page to another and manage their open positions. The open position allows users to get the full summary of the parts.
Order builder
With this feature, the traders can put a limit. They can take profit orders besides stopping whenever they want.
Advanced API
The trading platform has a fantastic technology that allows traders to create their own interface besides layout.
Demo account
The trading platform allows traders to trade on the demo account before they can move on to actual trading. This account helps traders to build confidence.
Cold wallet security
The trading platform tends to feature a multi-signature, and all coin storage is available online for extra protection.
How to set up a Bitmex Trading Terminal?
To set up the trading account, traders need to just head to the web platform that helps them directly trade on the browser.
The Bitmex trading platform meta four platforms are available for both android and IOS users. The website also has a web feature.
The traders can quickly start trading after they enter the login credentials.
- The traders can first open the demo account of the Bitmex Trading platform for free, and they can get confident with trading on a real account.
- The trading account tends to ensure that they keep the trader’s investment safe against all the market fluctuations. The traders can open the trading account once the broker is done with all the verification processes.
- Some traders find it challenging to trade in the beginning. But they don’t need to stress at all as the traders can start selling.
- Traders need to meet some criteria for setting a professional account. The traders need to be aware of some things.
- Additionally, traders can also avail themselves of VPS services.
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How to Use Bitmex Web Trading Platform?
Traders need to follow some basic steps to start trading here:
- Firstly, the traders need to open an account with Bitmex online trading. They need to start selling by clicking on the open account option available.
- In the next step, traders will see a popup form on their screen. When traders see the state, they need to fill in the basic details that are mandatory on the form. Once traders fill this form, they will see another form.
- After traders fill the respective forms, they have to go ahead with KYC verification. Under the KYC verification process, traders need to give their identity proof and residential address proof. It will fetch them with an account.
- The broker will start the verification process of the trader once the application is over.
- In the last step, the broker will open their account after verification is complete. After confirmation, traders can not only download the trading terminal but also start trading
Advantages of Bitmex Trading Platform
The Bitmex online trading offers a plethora of benefits to the traders, and some of them are:
- A platform is mainly designed for cryptocurrency, and it makes things relatively easy for traders.
- The traders can freely access all the information about Bitmex as it is directly available on their web portal.
- The trading platform is available globally, so traders are free to talk to traders across the world through the inbuilt chat feature.
- The app can be significantly customized using widgets from the desktop that makes it relatively easy to trade on platform 24*7.
- The trading fees are minimal, so traders don’t need to burn a hole in their pockets.
- The customer support is excellent so that traders can trade without any stress.
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Bitmex Trading Platform – Conclusion
The Bitmex trading platform is ideal for intermediate and advanced traders so that traders will get only a limited learning process here.
No doubt, there are some essential introductory guides available for beginners.
The trading platform is quite well regulated, so traders don’t need to stress about anything as such.
To start trading here, the traders need to follow some basic steps and login into their accounts. The process is quite simple.
Bitmex Trading Platform FAQs
Here is a list of FAQs related to the Bitmex trading platform:
What is the Bitmex Trading Platform called?
The BitMEX trading platform is also known as the Bitcoin mercantile exchange.
Ideally, there are two different types of trading platforms, including MetaTrader 4 and Meta Trader 5.
The meta trader 4 is a basic version having some customer base. While MetaTrader 5 is an advanced version featuring a plethora of facilities.
To trade with Meta trader five, the traders need to open a specific account.
Does Bitmex Meta Trader 5 provide Web Trading?
Yes, traders can choose web trading on Meta trader five as the platform allows users to trade through their browser.
The traders can trade on their favorite tools without any second thoughts as they don’t need to download any other software or app.
The web-based platform is relatively easy to use.
Is Bitmex MetaTrader 5 Free to use?
Yes, traders can easily download the Meta trader five accounts without paying anything extra from the broker’s official web portal.
On the flip side, they need to choose the software to trade in and download the same from Google.
The traders need to pay some fees for the respective trading accounts they choose. It is like the platform offers separate trading accounts for all terminals.
Hence traders need to check and buy.
How to download Bitmex Trading Terminal?
The traders can easily download the BitMEX trading terminal from the official website of the platform.
They don’t need to pay any extra charges to trade on Terminal 4 or Terminal 5.
But the traders have to pay minimum trading charges for the trading accounts they choose on the platform.
To get the store running, the traders need to have software.
What features does Bitmex MT5 have?
The Bitmex trading platform has a plethora of features that show the efficiency of the MT5.
Firstly, the trading platform offers a demo account where traders can learn the basics about trading and also be confident when they get into actual trading.
Also, several research tools can help traders.
Can I trade in Shares via Bitmex Trading Platform?
Yes, traders can easily trade in shares on the Bitmex trading platform. But the traders need to choose a specific account to sell in share.
The accounts are available at various fees, commissions, and spreads, and traders can choose any as per their needs or budgets.
Is Bitmex MetaTrader 5 good?
Yes, Bitmex meta trader 5 is a fantastic trading platform allowing traders to trade without any stress.
Besides being highly safe to traders, the platform has the most excellent features that are essential to trade on the forex market.
Can Bitmex Web Trading Platform be used without EKYC?
No traders cannot trade without the EKYC process, as traders must register them on the trading platform.
During the account opening process, traders need to verify themselves and log in with the credentials. Besides that, traders need to have credentials to use the platform.
Does Bitmex MetaTrader 5 provide Tips?
Yes, Bitmex meta trader 5 offers trading tips to traders to make the trading process easy.
These tips will help traders to make the best investment decisions and make the most of their investment.
How to Buy Currencies via Bitmex MT5?
The traders need to keep an eye on the currency if they want to invest and ensure they take proper investment decisions.
Besides that, they need to place their orders only after getting the correct pricing in the forex market.
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