Margex Review – Is It Safe To Trade On Margex Exchange?
Rating: 83%
Claim up to $100 in Bonus
100x Leverage
Fees:
Taker
0.060%
Maker
0.019%
Deposit Methods:
Wire
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Founded in 2020, Margex is a relatively new crypto trading platform that is growing massively in popularity and taking the crypto industry by storm. In this Margex review, we will demystify the Margex exchange platform and give you all there is to know about signing up, getting your bonus, and crypto trading with leverage as high as x100 on Margex.
Overview Of Margex
The Margex crypto trading platform
Margex is a crypto exchange platform that supports the trading of Six of the largest cryptocurrencies (BTC, ETH, XRP, EOS, LTC, and YFI) with leverage as high as x100.
However, at the time of writing this review, you can only trade these crypto pairs against the U.S. dollars, Margex does not support crypto-to-crypto trading on its platform (BTC/ETH, BTC/LTC).
For more information on how to take your first Bitcoin trade, you can check out our Bitcoin trade Guide. It will teach you all you need to know to go from Beginner trader to Pro in a matter of minutes.
Is Margex Safe?
Despite being a new platform, Margex takes the safety and the security of its clients very seriously. The company boasts of having some of the most sophisticated security features in place protecting clients’ information, funds, and trading activities. Some security features implemented by the Margex are:
- The Use of Cold Wallet Storage:
Margex keeps the bulk of its client funds offline in secured multi-signature cold storage. This protects your funds from theft and hacks, giving you that extra layer of security.
- Blockchain Technology For Its Trading Plartform:
The implementation of some of the latest cutting-edge blockchain technology ensures that the Margex trading platform is fast, reliable, and secured from every form of online attacks especially DDOS attacks.
- User Accounts Security:
Margex implements a lot of security features for its trading accounts. These features include 2FA authentication, Email confirmations for all withdrawals, 24/7 customer support, SSL security protocol, and data encryption.
- Price Manipulation and Fraud Prevention:
Price squeeze, low liquidity, platform lagging, or order execution error really occurs on the Margex trading platform. This ensures that the customer’s interests are always put at the forefront.
Why Choose Margex?
Margex is the go-to cryptocurrency trading platform for thousands of traders who prefer having full control over their trades as well as transparency and security. In this Margex review, we talk about the key features that make Margex stand out.
- 1. Beginner Friendly
The Margex website and trading platform were created to be user-friendly. As a beginner, you will find a lot of helpful articles, videos, trading lessons, and price analyses that can help you take that next step towards trading.
This makes this platform one of the best options for beginners still trying to find their way around the crypto market.
- 2. Deep Liquidity
The liquidity pooling system Margex implements are the first of its kind in the crypto industry. This pooling system combines 12+ multiple liquidity providers into a single, deep order book. This ensures all your entry and exit prices are the best with the thinnest spreads available on the market.
- 3. Competitive Trading Fees
Margex offers users competitive trading fees which are much smaller than other popular trading platforms like Bybit. Currently, Margex charges a 0.019% Maker Fee and a 0.060% Taker Fee for trading Bitcoin while Bybit charges 0.025% Maker Fee and a 0.075% Taker fee for trading Bitcoin.
- 4. Generous 40% affiliate program
Margex offers users one of the best affiliate programs in the industry. With a 40% cut of all trade fees paid by your referrals, you can easily build a referral network and making money from it.
- 5. Better than the competition
Margex is a really great alternative to some of the major crypto exchanges like Bybit and Phemex. When it comes to trading capacity Margex can handle 100,000 transactions per second. This is the same for Bybit and Phemex.
And while major exchanges like BitMEX constantly have system overload, Margex is still yet to experience any system overload or platform lagging to this day.
Is Margex Better Than Bybit?
Bybit is one of the biggest names in the crypto industry right now with more than 1.6 million registered users, Margex on the other hand, was just founded in 2020 and is still a new and upcoming crypto trading platform. The platform has implemented all the features that make Bybit great and then gone a step further to provide solutions to most of the issues users are facing in the crypto industry.
This dedication to providing users with the best platform for trading cryptocurrencies makes Margex stand out from the rest. And with the current growth rate, we can expect Margex to be one of the biggest names in the crypto trading industry very soon!
$100 Sign-up Bonus
The deposit and bonus page for your Margex trading account
As a new user, you get a free $50 bonus to cover your trading fees when you register and sign-up using our Margex link. You also get an additional $50 bonus after a deposit of 0.004+ BTC or more.
These bonuses can only be used to cover trading fees and cannot be withdrawn. However, any gains made by using this bonus to trade are totally yours.
40% Affiliate Program
Margex affiliate page
Margex offers users more than one way to earn on its platform, the affiliate program is a very popular method. This involves you sharing your referral code with your friends, family, and acquaintance and having them sign-up with it. Once they fund and start trading on the account, you get 40% of all the trading commission they generate on the account.
This is one of the best referral programs in the crypto industry and a great incentive to sign-up and shares the Margex platform with everyone you know. To set up your affiliate link, click on the Referal Icon on the top of the Margex Page and then follow the instructions.
Margex Fees
The complete list of trading fees on the Margex platform
The Margex trading exchange offers one of the most competitive fees in the trading industry. To put this into perspective, Bybit exchange trading fees are:
- Market order fee (taker fee): 0.075%
- Limit order fee (maker fee): -0.025%
While the trading fees for Margex are:
- Market order fee (taker fee): 0.060%
- Limit order fee (maker fee): 0.019%
For withdrawals, the Margex platform does not charge any fees for withdrawals. However, you are required to pay the network fee for your transaction.
Margex does not have any influence over this network fee instead it is totally dependent on the network you wish to use for your withdrawal.
Note to Traders In The United States
It is important to note that Margex does not support U.S traders due to the strict laws governing crypto trading in the country. Check the list of crypto exchanges in USA.
How To Open An Account
How to open a Margex trading account
The sign-up process for owning a Margex trading account is very easy and straightforward. The platform does not require KYC, so you don’t need to submit any document or provide personal details.
Follow the detailed steps below to quickly create your own account.
- 1. To sign-up, you first need a valid email and a strong password
- 2. Next, click on our Margex Link to sign-up (This gets you up to a $100 bonus)
- 3. Input your email, a strong password you can remember.
- 4. Click on the “Register” button.
Email verification for your account opening
Once the sign-up has been completed, you will get a verification code sent to your email, you need to input this code in the space provided before the timer runs out.
Margex Review On The Trading Interface
The margex web based trading interface
Once you log in to the Margex trading platform, the first page you see is the trading interface. From this page, you can easily carry out all kinds of activities on your account. All you need to do is just pick from the list of options on the top of the page.
How to navigate from one section to the other within your Margex trading account
Deposit Method
Deposit method
To deposit into your Margex trading account, click on the Wallet icon on the trading interface and then follow the instructions. Margex offers users the opportunity to either deposit using BTC or Fiat.
- 1. Direct BTC deposits from another BTC wallet to your Margex account Wallet
- 2. Bank card deposits via Changelly
Select one of the desired deposit options:
Margex supports the deposit of both Bitcoin and Fiat currencies
It takes a matter of minutes for your deposit to reflect on your Margex leverage trading account. However, there are sometimes it might take a couple of hours but once it reflects, you are ready to start trading and making money from the Bitcoin market.
Minimum Deposit
You can start trading on Margex with as little as $10. This minimum deposit combined with a x100 leverage provides the users substantial buying power to trade cryptocurrencies with.
However, making this kind of low deposit disqualifies you from the Margex $50 deposit bonus given to all new users who make an initial deposit of 0.004+.
Withdrawal Method
The withdrawal process for Margex is very easy and straight to the point. From your trading wallet Click On the Withdraw button and follow the instructions.
As of the time of writing this Margex review, Margex supports withdrawal in both Bitcoin and fiat, making it easy for users to take out gains at no extra cost.
Fund Security
When it comes to depositing or withdrawing funds from your Margex account, there are lots of security features the Margex platform offers you such as:
- 2FA authentication
- Email confirmations for all withdrawals
- Security questions/phrases
- Wallet whitelisting
- And a 24/7 customer support unit.
With these features, you can keep track of whatever is going on in your trading account as well as properly protect yourself from hackers.
Leverage Trading On Margex
Leverage Trading On Margex
Clicking on the trading icon brings you back to the trading interface, from here you can carry out technical analysis, place trades, close trades, monitor your open position, adjust your leverage and monitor your margin.
What Does 100x Leverage Really Mean on Margex?
Adjusting your leverage
Margin trading simply means that you can increase your purchasing power and exposure to the market while trading with little funds. The added funds/leverage you get to make bigger bets is given to you by the exchange.
So for a 1:100 leverage, every 1 BTC you have is transformed into 100 BTC thereby increasing your purchasing power. In other words, you will be able to open positions worth much more than the funds you hold on Margex.
However, while high leverage can potentially increase your benefits, it can also increase your losses. Therefore, it is important that you take the required time needed to understand how leverage works. Make sure to learn how to trade Bitcoin before touching leverage trading.
Margex Review On Supported Currencies
All Supported Currencies you can trade
Margex supports the trading of only six crypto pairs on its platform. These pairs can be traded with leverage as high as x100.
Margex supports BTC/USD, ETH/USD, LTC/USD, XRP/USD, EOS/USD and YFI/USD.
You can easily switch the chart from one currency to another by clicking on the pair of your choice from the list on the top part of the chart.
Demo Trading
New users can test their trading skills by demo trading on Margex test account. These test accounts provide the same feeling of trading on a real account but instead of trading with real money, you trade with paper money.
This way you can perfect your trading strategy, test the Margex platform and get familiar with what trading on Margex feels like before ever funding your trading account.
Placing Your First Trade On Margex
Before you can become successful at trading, you need to first understand how to place a trade and the various tools you can easily use to make that process better.
Technical Analysis
The Margex charting interface is pretty standard, it comes with a trading view charting software that has over 90 different types of indicators inbuilt into the platform and readily available to users.
You can customize this charting interface and the numerous indicators inbuilt into the platform to suit all your trading needs. You can also easily create and import your own custom tools, indicators, and EA on the platform.
Different Order Types
Understanding the different order types available to you as a trader
Margex offers its traders 3-different types of orders for entering and exiting trades. These order types can be accessed on the Order placement pane on the left side of the trading interface.
- Market Order: A market order is an instant order. Once you place a trade using this order type, your trade request gets executed immediately at the best price available in the order book. You will pay a small transaction fee for this order type.
- Limit Order: You place your trade above or below the current price and then wait for it to get triggered. When you open a limit order, you are a market maker, because you are providing the order book with liquidity. Your order will remain inactive and stay in the order book until the price gets to it. Here, you have the option of not paying transaction fees.
- Conditional Order: Works like a limit order but instead of opening trade the conditional order automatically closes a trade when price triggers it. You can set an automatic Take-profit and Stop-loss price using this order type.
Margex Review On Position Management
Once you pick the cryptocurrency of your choice, set your leverage and your order size, you can then place the trade and monitor your open position from the order management pane at the bottom of the page.
Managing your open position on the Margex platform
“Quantity”, stands for the number of contracts that your position is worth at the time of opening it. Every contract represents 1 USD of value. “Value” is the same number but in BTC terms, and remember, it’s your initial margin + the leverage combined that sums up this number.
“Margin” shows you the funds that have been drawn from your Bitcoin trading account to open the position and “P&L” is your current profit or loss. “Daily realized P&L shows you how much-realized profit or loss you have. This number is affected by fees and rebates.
Order Book
To the right of the page, you have the order book. On this page, you can monitor current Buy (ask) and Sell (bid) Limit orders of market participants. The Order Book acts as an additional instrument that helps traders monitor market activity and provides valuable information when making trading decisions.
The Margex order book
How To Close Your Position
You can always close the position on Margex, either by market or limit order. For a limit close order, you will need to input a stop loss and take a profit order. These are “conditional orders that get triggered once the price gets to that region.
For a market close of your open positions, you can simply click on the “x” icon in front of the order in the position management pane.
Margex Review On Mobile App
As of the time of writing this Margex review, the Margex platform is yet to create a mobile app for its traders to make use of on the go. However, the Margex website and trading interface are very mobile-friendly and can be accessed on the go via any internet-enabled device.
The website load time is also very short which means you don’t have to wait long for the Margex trading interface to load. This fast load time is very important to traders especially during times you wish to open or close a trade immediately.
Margex Review On Customer Support-24/7
Margex review on Customer Support and 24/7 availability
The Margex crypto exchange platform offers users multiple ways to get in contact with customer service. You can find all the options available for you on the Contact Us page.
However, the fastest way to get a response is through the Live chart. It takes less than 10 min.
Final Words
Margex might still be new in the crypto industry, but their dedication to serving their customers is what is really making them stand out. This platform is geared to providing new traders with all they need to become successful.
The website is filled with guides, tutorial videos, and analyses you can easily take advantage of and improve your trading skills. Also, the combined liquidity pool of 12+ exchanges in one place makes trading on Margex account lightning fast with the smallest of spreads.
So what are you still waiting for? take the next step by signing up with our link to get your bonus once you deposit, and start trading immediately.
Other Bitcoin Exchanges
If this does not exactly meet your taste, there are several others that could be of interest. Make sure to read our list of the best Bitcoin margin exchanges in the world.
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