BitMEX vs Bybit

Broker 1

Broker 2

Your capital is at risk. Trade only with funds you can afford to lose.

BitMEX

BitMEX has closed.

Higher rated

Bybit

3.1/5

#50 in our crypto broker rankings

Accepts traders from Mauritius

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Rating breakdown

Regulation & trust3.3
Assets & markets3.8
Fees & costs3.5
Platforms & tools4.0
Accounts & banking3.5
Education3.5
Research2.5
Customer support3.5

BitMEX vs Bybit comparison table 2026
Cryptocurrency
	BitMEX	Bybit
Overview	BitMEX was a crypto exchange and derivatives trading platform, launched in 2014. The firm offered a fiat–crypto onramp, spot trading, and crypto derivatives including perpetual contracts, traditional futures and quanto futures. BitMEX offered amongst the largest market liquidity of any cryptocurrency exchange.	Bybit is an established crypto exchange aimed at online traders. Clients can speculate on leading tokens like Bitcoin, access crypto staking and loans, or trade NFTs using the firm's digital marketplace. Millions of users have signed up with the firm since it launched in 2018.
Customer Reviews	5 Based on 7 customer reviews	–
Trustpilot Score	3.9	2.4
Bonus Offer	–	Up To 4030 USDT Welcome Bonus
Comment by Reviewer	“Active traders who wanted access to a wide range of crypto derivatives would have been intrigued by BitMEX's offering, with Perpetual Contracts available. The proof of reserves also provided a degree of reassurance. Yet daily trading volumes fell as competition heated up and the firm faced regulatory hurdles, with the exchange closing in September 2026. ”	“Bybit is a good choice for active traders who want a fast and straightforward way to buy crypto tokens and trade crypto derivatives.”
Pros	BitMEX launched pre-IPO linear futures contracts with 5x leverage in 2026, starting with SpaceX (SPCXUSDT), before closing later in the same year. Most exchanges publish proof of reserves at best monthly, and some only do so under external pressure. BitMEX published Proof of Reserves and Proof of Liabilities data twice per week, with figures that are independently verifiable on-chain. Where exchange solvency has become a genuine due diligence question rather than a theoretical concern, that publication frequency and the ring-fenced, non-lent fund structure behind it represented a transparency standard most competitors haven't matched. BitMEX invented the perpetual swap in 2016 and had been running a single-focus derivatives exchange until 2026. That depth of institutional knowledge — covering how the platform handles liquidations, funding mechanics, and order book management under extreme conditions — was genuinely difficult for generalist exchanges building derivatives as a secondary product to replicate.	ByBit upgraded its Futures Bots in 2026, providing access to perpetual contracts for popular TradeFi assets, including TSLAUSDT, GOOGLUSDT, and tokenized gold 100,000 TPS per contract which results in no overloads with an ultra-fast matching engine that is 10x the industry average Retail clients can easily swap between supported coins within accounts, take profit and stop loss, strategy alerts, and adjust orders IPO Express launched making it among first crypto exchanges to provide tokenized IPO access
Cons	The permanent exclusion of US residents extended beyond market size — it kept US institutional flows, retail volume, and market-making activity permanently outside BitMEX's ecosystem. That had tangible consequences for liquidity depth on newer and thinner contracts that competitors with US access didn't face to the same degree. The platform made no concessions toward accessibility — the density of the interface, the non-intuitive relationship between mark price and liquidation mechanics, and the absence of guided onboarding created genuine friction for traders arriving from spot exchanges. In a market where competitors have invested heavily to reduce that friction, BitMEX's learning curve posed a meaningful attrition risk. Every interaction with BitMEX required crypto — deposits arrived in crypto, profits left in crypto, and fiat conversion occurred entirely off-platform through third parties. Traders managing capital that originated or terminated in a bank account carried conversion costs, exchange rate exposure, and operational friction that simply didn't exist on platforms with native fiat rails.	Bybit had a serious security breach in 2025 with around $1.5 billion in Ethereum stolen, though the exchange did recoup customers Its finance markets like TradFi are not available in the EEA due to regional regulatory challenges While Bybit has strengthened its regulatory credentials, it's still faced warnings and actions in jurisdictions like Hong Kong and Canada
Instruments	Crypto, FX Perpetual Swaps, Equity Perpetuals, Pre-IPO Perpetuals	Cryptos, Futures
Demo Account	Yes	Yes
Minimum Deposit	$0.01	$0
Trading Platforms	BitMEX Web Platform COLLYBUS AlgoTrader TradingView Quantower	MT4 TradingView
Payment Methods	Apple Pay Banxa Bitcoin Payments Credit Card Ethereum Payments Google Pay	Bitcoin Payments Credit Card Ethereum Payments Mastercard Visa Wire Transfer
Minimum Trade	Variable	0.001 Lots
Regulator	FSA	SCA, FSC, FMA
Margin Trading	Yes	Yes
STP Account	No	Yes
ECN Account	No	No
DMA Account	No	No
MAM Account	No	No
PAMM Account	No	No
LAMM Account	No	No
Demat Account	No	No
AI / Machine Learning	No	Yes
Robo Advisor	No	No
Negative Balance Protection	No	No
Market Maker	Yes	No
P2P Trading	Yes	Yes
Spot Trading	Yes	Yes
Mobile Apps	iOS & Android	Yes (iOS & Android)
Android App Rating	3.2	4.5
iOS App Rating	3.2	4.7
Auto Trading	BitMEX Market Maker, BotVS, and via API	Via 3rd party software
Copy Trading	Yes	Yes
Copy Trading Platform	BitMEX has elevated the copy trading experience via the web platform and app, providing both standard copy trading and reverse copy trading, giving additional opportunities to learn from experienced traders dealing in digital assets.	Use the Top Traders leaderboard to follow experienced crypto investors. Mirror positions on Bitcoin, Ethereum and more for a small charge.
Social Trading	Yes	No
VPS Hosting	No	Yes
Tournaments	No	No
Demo Competitions	No	No
Ethical Investing	No	No
Custodial Account	No	No
Guaranteed Stop Loss	No	No
Inactivity Fee	–	$0
Islamic Account	No	No
Account Currencies	–	EUR GBP TRY RUB
Overview	BitMEX continues to offer a highly competitive crypto trading environment, with cheap $1 contracts and leverage up to 1:100. The broker’s proprietary platform offers cutting-edge trading features, including a customizable order book, a depth chart and dozens of technical indicators.	Buy dozens of crypto tokens with one click, or choose between hundreds of tokens to trade on spot markets, with more options than many alternatives. Crypto derivative products include perpetual futures and options.
Spread	-0.01% maker, 0.075% taker	Market maker, derivatives fee: 0.01%, spot fee: 0.1% Market taker: derivatives fee: 0.06%, spot fee: 0.1%
Coins	BCH BTC ETH LTC XRP TRON EOS XMR ADA DOGE BNB DOT SOL SHIB AVAX GAL NEAR SUSHI AXS	BTC ETH EOS XRP USDT BCH LINK XTZU LUNA SRM TRX RUNE THETA STRM YFI WAVES DXPX ENS USDC ADA BEL BIC REN MKR LING CN98 CAKE CAPS BUSD BTT CBX CELO BTG BUSD KLAY BNB DOT AGLA AGLD LING DOME FIU FLOKI FITFI HOT ALGO FCD APEX AXS BAT ANKR BNT BOBA ALGO FIDA FL UNI AAVE SUSHI XEM APE ATOM AVAX DOGE ETC FTM LTC MATIC SAND SWEAT DLC AXS CHZ OP OKSE ZEN ZIL ZRX ACH ACM DYDX ELT FTT HERO NEXO MKR QMALL QNT REAL TRIBE INTER FAME REN ENS ELT ELJ DICE DRIV FLOKI FLOW GENE GMX IME KRL KOK NFT LWF KMON KASTA ICX CRAFT CWAR CTC CULT DEFY DFI DICE DRIV GSTS JST GODS IZI JASMY ERTHA COMP
Crypto Lending	No	Yes
Crypto Mining	No	Yes
Crypto Staking	Yes	Yes
Auto Market Maker	Yes	No

BitMEX has closed.

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