Margex Review

Hedge With Crypto aims to publish information that is factual and accurate as of the date of publication. For specific information about a cryptocurrency exchange or trading platform, please visit that provider’s website. This information is general in nature and is for educational purposes only. Hedge With Crypto does not provide financial advice nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own inquiries.

Bottom line:

Margex is a Bitcoin derivatives exchange that offers up to 100x leverage trading. It has a powerful trading engine for its traders to long or short the Bitcoin market with rapid trade execution speeds to take advantage of price volatility. We found the exchange to be a suitable choice to margin trade Bitcoin, particularly for individuals who want to use a crypto exchange without KYC.

However, the benefits stopped there as the lack of trading pairs in addition to a basic user interface were limitations. Overall, there are better places to trade crypto with margin than Margex.

How We Rated Margex

Review Category	Hedge With Crypto Rating
Features	4.1 / 5
Supported Fiat Currencies and Deposit Methods	4.5 / 5
Supported Cryptocurrencies and Trading Pairs	3 / 5
Fees	4 / 5
Ease of Use	4.8 / 5
Customer Support	4.6 / 5
Security Measures	4.5 / 5
Mobile App	2.5 / 5

Margex At A Glance

Margex is a new digital asset and investment platform that has been designed to provide a fair, transparent and secure exchange for trading. The cryptocurrency trading exchange's primary offering is a Bitcoin-based derivatives market which allows its users to trade long (buy) or short (sell) cryptocurrency pairs with leverage up to 100:1.

Margex exchange works by combining the liquidity of 12 other popular leverage exchanges in one place resulting in deep liquidity and their $40M order book depth. Users can trade popular digital futures coins using a modern, user-friendly interface and with competitive fees.

Some notable features that we will assess in this review are:

• Easy to use
• Trade USD crypto pairs using BTC as collateral
• Up to 100x isolated margin trading
• Combined liquidity of 12+ exchanges in one place
• Comparable trading fees
• Price manipulation protection
• Powerful charting by TradingView

Exchange Name	Margex
Supported Cryptocurrency	BTC, ETH, LTC, XRP, EOS & YFI & 4 others
Fiat Gateway	Yes (via third-party only)
Leverage	Up to 100x
Trading Fee	0.19% (maker) and 0.06% (taker)
Withdrawal Fee	Crypto standard network fee
TP/SL Orders	Yes
Mobile App	No

Margex Compared

EXCHANGE	CRYPTO ASSETS	TRADING FEES	RATING	PROMOTION	WEBSITE	REVIEW
ByBit	331 (608 trading pairs)	0% (spot), 0.06% / 0.01% (futures)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	0% trading fees for 30 days (spot only)	Visit ByBit	ByBit Review
Binance	385	0.1% (spot) and 0.02% / 0.04% (Futures)	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.8 / 5	Up to $100 welcome bonus	Visit Binance	Binance Review
KuCoin	806	0.1%	Rating We provide an overall weighted average rating out of 5 stars. Our ratings are based on objective criteria like the ease of use, fees, deposit methods, customer support and availability. Our reviews are not influenced by 3rd parties. Click here for further information about our rating methodology and a full list of categories we review against. 4.6 / 5	Up to 500 USDT in bonuses	Visit KuCoin	KuCoin Review

Features We Tested

Trading Experience

Margex offers a user interface that is simple, elegant and easy to follow. The derivatives product will allow individuals to speculate on future BTC prices by longing or short-selling Bitcoin with leverage to make potential returns or hedge against volatility.

Moreover, Margex is one of the leading no KYC crypto exchanges that enables users to deposit Bitcoin and begin trading with leverage. As the platform does not allow the transfer of fiat money, there is no requirement to submit personnel information, upload identity documents or complete the Know Your Customer (KYC) process.

Leverage Trading

Margex specializes in leverage trading and offers up to 100:1 isolated margin positions to maximize potential profits. The exchange uses an isolated margin that informs the trader of the liquidation price and amount of funds at risk before placing a trade.

Trading crypto with leverage can be risky due to the highly volatile asset class that can result in sudden fluctuations in price movements and price manipulation of low liquidity trading pairs. Price manipulation was a common problem on exchanges like BitMEX. Margex solves this risk by not offering illiquid assets and its own Price Manipulation System to monitor the consistency of prices using algorithms from its 12 liquidity partners.

Depositing Funds

Traders can fund a Margex wallet with crypto by transferring Bitcoin from a hardware wallet or fiat-to-crypto exchange such as Coinbase, Kraken, Gemini or Coinzoom which accepts fiat currency deposits. This is the quickest and easiest way to deposit money to Margex by copying the QR code or BTC address to send funds to.

For users who do not own any Bitcoin and want to start trading immediately, Margex provides the option to purchase Bitcoin directly on the platform. This feature is provided through an integration with Changelly, a popular fiat-to-crypto exchange and instant swap platform.

Having the ability to purchase Bitcoin using a credit card is a useful feature to quickly top up a trading account to meet the minimum margin requirements. The minimum purchase is USD $100 or the equivalent amount in Euros.

User Interface

The charting user interface is an important aspect of any derivatives exchange, as traders will spend the majority of their time using it.

The charting features such as the drawing tools and indicators are provided by TradingView, which is one of the best crypto charting sites in the industry. The integration allows Margex user's to right-click the chart to change the time frame, add indicators and customize the scale.

Examples of indicators that can be added include moving averages, stochastics, Bollinger bands, and many more. Switching between pairs does not remove the chart analysis, which frustrates other cryptocurrency trading exchanges.

Margex provides a standard offering of order types to manage risk being limit, market and stop-limit orders. A great feature is an ability to simultaneously place a stop loss and take profit order for each trade which is not offered on some trading platforms.

The price chart, order book, order entry, positions, and pending order windows are well laid out. The supported crypto pairs are located along the top, so the chart in the middle allows quick switching between trading pairs.

Trading Pairs

Margex derivatives exchange supports trading the 5 major crypto assets: BTC, ETH, LTC, XRP, EOS, and YFI. Each futures contract is traded against the USD pair using Bitcoin as collateral. The number of pairs is quite limited; however, these are currently the most popular derivatives pairs to trade.

Pricing & Fees

There are no costs to create an account with Margex or to maintain a wallet. The exchange charges a trading fee for buy and sell positions based on a maker and taker model with fees at 0.19% and 0.060%, respectively. 

Margex does not offer fee discounts based on trading volume or trading with the platform's native token, as on Binance, Bybit, and Kraken. However, users can participate in marketing campaigns to earn bonuses, which can be used to pay trade fees and funding.

Trading Pair	Fees (Maker / Taker)
BTC/USD	0.019% / 0.06%
ETH/USD	0.019% / 0.06%
EOS/USD	0.019% / 0.06%
LTC/USD	0.019% / 0.06%
XRP/USD	0.019% / 0.06%
YFI/USD	0.019% / 0.06%

Margex also charges an overnight financing fee (also referred to as Funding) for holding a position over a 24 hour period. The funding fees vary for long and short positions based on market conditions. The cost is added to the account for holding a position after every 8 hour period. Visit the website for a list of the funding fees for each trading pair.

Security

The Margex website provides information on the number of security features implemented to protect its client's information and funds. A multi-layered security approach is used to mitigate the risk of hacks, theft and fraudulent activity. A few of the listed protection measures include:

• 2 Factor Authentication (2FA)
• 100% of assets are stored in multi-sig cold wallets
• Email confirmation for withdrawal requests
• Withdrawals are processed once a day
• Realtime monitoring and alerts of assets
• SSL encryption to protect user's information