Best BitMEX Alternatives – Bitcoin Trading Platforms Compared
On this page you find an overview of the currently best BitMEX alternatives offering similar trading instruments and comparable trading platforms. In the first part we’re showing you other Bitcoin margin trading brokers with mainly similar features, such as CFD-based crypto trading, high leverage, BTC deposits only and a simple signup procedure.
If you should be searching for a Bitcoin trading platform with entirely different features than the popular Bitcoin Mercantile Exchange offers, then you’ll find more detailed descriptions of the following selection of very different crypto trading sites further below in this overview.
Also, feel free to use our sidebar comparison tool where you can compare 2 or 3 brokers against each other.
Alternative Bitcoin Brokers with High Leverage
The Bitcoin Mercantile Exchange, BitMEX, is famous for a reason – since it has become one of the world’s largest Bitcoin brokers regarding trading volume and it’s even the No1 market place for Bitcoin margin traders.
With up to 100:1 leverage and some other specific characteristics BitMEX is quite unique.
Besides offering the highest leverage among all crypto brokers, BitMEX has some other characteristics other brokers don’t have, or don’t have in the same combination. The 5 most important features why Bitcoin traders prefer BitMEX to other trading platforms are:
- No ID verification
- Unlimited withdrawals (in BTC only)
- Advanced order types (important for pro traders)
- Excellent system without glitches
- 100:1 leverage (by far the highest in crypto)
If, for any reason, you should not want to trade on BitMEX, you can chose another broker offering the features that are most important to you.
BitMEX Alternative #1: PrimeXBT
Direct Comparison BitMEX vs PrimeXBT
100:1 leverage
This relatively new Bitcoin margin trading broker has gained popularity very quickly since it was launched in 2018. The broker has a lot in common with BitMEX, such as a CFD trading system including up to 100x leverage, no need for ID verification and many other positive features.
BitMEX Alternative #2: BaseFEX
Direct Comparison BitMEX vs BaseFEX
100:1 leverage
BaseFEX is a BTC margin broker that keeps everything simple and managable, so users can focus on good trades without subconscious distractions too complicated trading platforms can cause. BaseFEX has no KYC policy, there is no section for ID verification in user accounts. You can signup completely anonymously.
BitMEX Alternative #3: Overbit
Direct Comparison BitMEX vs Overbit
50:1 leverage
Overbit is another serious alternative to BitMEX when it comes to margin trading BTC against the USDollar as this broker platform still provides 50:1 leverage within their Contracts for Difference trading instruments.
The only trading fees on Overbit are funding fees only occurring for open positions that are held over certain hours each day. Another striking difference to BitMEX is the fact that you cannot trade on Overbit without ID verification.
BitMEX Alternative #4: Deribit
Direct Comparison BitMEX vs Deribit
100:1 leverage
If Bitcoin Futures trading is yours, then Deribit might be an interesting alternative for your trading activities since this margin broker offers up to 100:1 leverage on BTC Futures. Other than BitMEX Deribit even has an own in-house trading app for people who appreciate the possibility to trade on the go.
Still not found what you’re looking for? Here is a list of all BTC margin trading brokers we’ve tested.
Other Trading Platforms to use instead of BitMEX:
In case you might be searching for an alternative to BitMEX because you need a complete different type of crypto trading platform, like one with more altcoins in their portfolio, USD withdrawals or real Bitcoin purchases – we’ve built some overviews that allow you to compare BitMEX to other popular brokers and see what’s the difference.
Maybe you find the broker the most convenient for your needs in the platforms listed below:
SimpleFX – Best Crypto Trading Mobile App, Great Platform
Direct Comparison BitMEX vs SimpleFXThis etablished Bitcoin derivatives broker is less known than the others, but still a reasonable option to trade Bitcoin
6:1 Leverage
Diversity of Order Types:
SimpleFX’ trading system is as simple as its name suggests. Traders can only execute basic buy and sell orders without the advanced orders traders find on BitMEX.
ID Verification:
ID verification is only required if traders want to deposit or cash out fiat money. This can be done in a wide range of currencies.
Cash outs:
There is no limitation for withdrawal amounts.
Liquidity:
No data can be found regarding this broker’s liquidity.
Bitfinex – Good Bitcoin and Altcoin Broker with Real Crypto Exchange (no CFDs)
Direct Comparison BitMEX vs BitfinexBitfinex is one of the big names in the field of crypto brokers. They have some similarities to BitMEX but also some significant differences:
3.33:1 Leverage
Diversity of Order Types:
Bitfinex also has the advanced order types, so pro traders can use the same level of automated trading that is possible in BitTMEX.
ID Verification:
ID verification is only required if you want to be able to deposit or withdrawal USD instead of cryptos.
Cash outs:
Apart from that Withdrawals aren’t limited as far as we know.
Liquidity:
When it comes to trading volume the broker belongs to the mid range, so unless you are a big whale your orders should generally be filled easily.
Altcoins:
Bitfinex added a wide range of altcoins to their portfolio within the last 2 years, which makes it more and more interesting for altcoin trading.
FXOpen – Solid International FX Broker with Crypto, Good Reputation
Direct Comparison BitMEX vs FXOpenThe Forex broker FXopen is generally a well established broker operating since about 12 years.
The cryptocurrency hype of the last couple of years let them decide to also offer crypto trading. Although it’s a CFD broker, crypto traders can actually trade real cryptos which means they can deposit and withdraw cryptocurrencies.
3:1 Leverage
Diversity of Order Types:
Regarding order types you will only find the standard orders including stop orders; the latter is the most important risk management measure for professional traders.
ID Verification:
Also at FXOpen ID verification is only required if traders want to be able to make fiat transfers to or from the broker platform. The biggest Western currencies are supported such as USD, EUR, GBP, AUD.
Cash outs:
The trading platform has no limitation for withdrawals.
Liquidity:
No data can be found regarding this broker’s liquidity.
Coinbase Pro
Direct Comparison BitMEX vs Coinbase ProGDAX is now called Coinbase Pro since the management has obviously discovered that the former branding was quite confusing. Who would have thought that GDAX is the advanced trading platform of Coinbase.
3:1 Leverage
Diversity of Order Types:
Coinbase Pro offers the professional order types that are also provided by BitMEX and Bitfinex.
ID Verification:
Since traders can chose fiat money transfers, ID verification is then again mandatory, but only in that case.
Cash outs:
At Coinbase Pro traders can only cash out gains of $10,000 maximum per day.
Liquidity:
Trading volume of Coinbase Pro is mid range – however, the broker is far behind the market leaders such as BitMEX or Bitfinex.