BitMEX vs SimpleFX

BitMEX vs SimpleFX Comparison Table 2023
BitMEX Review 2023 SimpleFX Review 2023
3.2
4.2
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

BitMEX is a crypto exchange and derivatives trading platform, launched in 2014, that offers low fees and starting deposit for 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.

SimpleFX is an offshore forex, CFD and cryptocurrency broker with over 200,000 clients globally. The broker offers a proprietary trading solution, as well as the reputable MT4 platform. Traders can access a vast selection of digital assets with crypto deposits and multi currency accounts.

Bonus Offer
Fee reduction for BMEX token holders
Comment by Reviewer
"Active traders who want access to a good range of crypto derivatives will be intrigued by BitMEX's offering. The 100x leverage on Bitcoin is also higher than many alternatives." "SimpleFX is best for crypto traders looking for staking services and a social trading community to exchange ideas and signals."
Pros
  • Great customizability using widgets within the platform, making it easier to see exactly what you want
  • A platform solely designed for crypto makes it more streamlined than multi-asset terminals
  • Access to a considerable amount of information directly from BitMEX, freely available on their site
  • The opportunity to talk to investors from all over the world using the inbuilt chat functionality
  • High levels of security, ensuring that trading on the exchange is relatively secure 24/7
  • A range of different cryptocurrencies are available, including Bitcoin, Ethereum and Litecoin
  • Earn interest on HODL-ing tokens – Tether and Bitcoin
  • Highly leveraged crypto trading with rates up to 1:100
  • Insurance fund to avoid liquidation plus python API
  • API & VPS support
  • SimpleFX crypto coin
  • Fast customer service
  • Beginner-friendly platform
  • Multi-currency single account
  • Lightning fast Bitcoin payments
  • Community forum to share trading ideas
  • Crypto staking solution with no starting deposit
Cons
  • BitMEX is focused on active traders, with fewer tools and features aimed at crypto newbies
  • The interface is not as new, stylish or innovative as other options on the market
  • Withdrawals are only carried out at a set time of day
  • Legal dispute with US regulators resulted in fines
  • Only Bitcoin is accepted for free withdrawals
  • Range of crypto assets not as wide as rivals'
  • Weak regulatory oversight
  • No MetaTrader 5 integration
  • Limited non-crypto funding methods
Awards
  • The Best Trading Platform Cryptocurrency, World Expo 2022 - Warsaw
  • Best Mobile App 2020 - Rankia Awards
  • The Best Trading Platform, Finance World Expo 2019 - Zug
  • Best Cryptocurrency Trading Platform, Cryptocurrency World Expo 2018 - Berlin
Instruments
Crypto Forex, indices, shares, commodities, cryptocurrencies
Demo Account
Yes Yes
Minimum Deposit
$0.01 $0
Trading Platforms
  • AlgoTrader
  • TradingView
  • MT4
Payment Methods
Minimum Trade
Variable 0.01 Lots
Regulator
Republic of Seychelles
Margin Trading
Yes Yes
STP Account
No Yes
ECN Account
No No
DMA Account
No Yes
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No Yes
Robo Advisor
No Yes
Negative Balance Protection
No Yes
Market Maker
Yes No
P2P Trading
Yes No
Spot Trading
Yes Yes
Mobile Apps
iOS & Android iOS, Android + Web Trader
Auto Trading
BitMEX Market Maker, BotVS, and via API Yes
Copy Trading
No No
Social Trading
Yes Yes
Trade Signals
Yes
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
3%
Islamic Account
No No
Account Currencies
  • USD
  • EUR
  • GBP
Stock Exchanges
Commodities
CFD Trading
CFD trading not offered Go long or short on over 170 CFDs with high leverage up to 1:500. The broker's social community is also a great place to pick up CFD strategy tips and trading ideas.
Leverage
1:500
FTSE Spread
1.3
GBPUSD Spread
1.2
Oil Spread
0.03
Stocks Spread
Variable
Forex Trading
Forex trading not offered SimpleFX offers a competitive suite of 60 forex pairs with average spreads of 0.9 pips. The charting features are extensive, with convenient mobile and desktop access for all experience levels.
GBPUSD Spread
1.2
EURUSD Spread
0.9
EURGBP Spread
0.9
Assets
60
Cryptocurrency
BitMEX offer the largest liquidity crypto trading environment anywhere. Contracts start from just $1. The firm is also compliant with global AML guidance and the platform offers cutting-edge crypto exchange and hedging. SimpleFX offers popular crypto coins including Bitcoin and Ethereum paired with the USD. Traders benefit from feature-rich analysis tools as well as a bespoke staking service where capital can be used for margin trading.
Spread
-0.01% maker, 0.075% taker From 0.0001
Coins
  • BCH
  • BTC
  • ETH
  • LTC
  • XRP
  • TRON
  • EOS
  • XMR
  • ADA
  • DOGE
  • BNB
  • DOT
  • SOL
  • SHIB
  • AVAX
  • GAL
  • NEAR
  • SUSHI
  • AXS
  • BTC
  • BHC
  • LTC
  • ETH
  • ETC
  • XRP
  • LNK
  • WAV
  • XTZ
  • YFI
  • ADA
  • DOT
  • EOS
  • NEO
  • BNB
  • XMR
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
Yes Yes
Auto Market Maker
Yes No
More Comparisons
BitMEX
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SimpleFX
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