BitMEX is a crypto exchange and derivatives trading platform, launched in 2014. The firm offers a fiat–crypto onramp, spot trading, and crypto derivatives including perpetual contracts, traditional futures and quanto futures. BitMEX offers amongst the largest market liquidity of any cryptocurrency exchange.
OKX is a respected cryptocurrency firm, established in 2017, that offers a large suite of products, from mining pools to NFTs. Traders can access over 400 crypto tokens via OTC trading and derivatives. With an excellent web platform, developer tools and dynamic charts, OKX is a popular choice for technical traders.
Bonus Offer
Fee reduction for BMEX token holders
$10 in BTC
Comment by Reviewer
"Active traders who want access to a good range of crypto derivatives will be intrigued by BitMEX's offering, with Perpetual Contracts available. The 100x leverage on Bitcoin is also higher than many alternatives."
"OKX is a top pick for crypto traders looking for emerging coins and crypto projects to invest in. Traders can also make use of the broker's copy trading service and automated bots."
Pros
The Guilds social trading service allows traders to participate in competitions and earn rewards, including a weekly prize pool worth 4,000 USDT at the time of writing
BitMEX continues to deliver a considerable amount of market information for free, as well as trading guides and community channels on Discord, Telegram and more
The broker offers high levels of security, using a combination of hot and cold wallets and cryptography key management
The native token, BMEX, can be staked with up to 15% trading fee discounts, among other exclusive privileges
Comprehensive customizability is available within the platform, with movable widgets and order book filters
Traders have the opportunity to connect with investors using the intuitive inbuilt chat feature
The exclusive crypto platform makes it more streamlined than other multi-asset terminals
Traders can earn interest if they HODL Tether and Bitcoin
The broker offers 2 API systems for seasoned traders
There's an impressive range of blockchain products, including DeFi services, NFTs and games, alongside 400+ established and emerging coins
You can access a wide range of trading products, including futures, options and perpetual swaps via a mobile app or desktop platform
OKX maintains an excellent reputation with 20 million global clients and a license from the Dubai Virtual Assets Regulatory Authority
Traders can access historical market data for spot and futures combining OHLC data, aggregate trades and trading history
There's a vast developer lab plus access to a marketplace of pre-built trading bots with auto-arbitrage
Active traders can expect competitive maker and taker fees, from 0.02% and 0.05%, respectively
Crypto staking and pools are available with competitive mining fees from 2%
Cons
BitMEX is an offshore firm and is not regulated by any reputable authority, though this is common among crypto brokers
BitMEX is geared towards more active traders, with fewer tools and features aimed at newbies
The broker was involved in a legal dispute with US regulators which resulted in fines
Withdrawals are only carried out at a specified time of day
Only Bitcoin is accepted for free withdrawals
The firm offers limited regulatory oversight, though this is common among crypto brokers
The quality of customer support was inconsistent based on testing
The broker's platform and features may be complex for novices
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.
OKX continues to offer a superb selection of 400+ tokens including Bitcoin and Ripple. You can buy and sell tokens or trade cryptos on margin via derivatives, including perpetual swaps, options and futures. OKX stands out for its low fees, extensive range of tokens and speedy crypto transactions.
