Margex Review: Scam or Legit? Exchange Fees, Security, Bonus & More
In this Margex review, you will learn about why Margex is an amazing trading platform that everyone should have an account with. With low trading fees, a beautiful user interface, unique features, and more, Margex trading takes derivatives trading to an elevated level.
Margex Trading Infrastructure: 100x Leverage Exchange
Margex’s trading platform has bank-grade multi-layer safety checks, making it one of the most secure trading platforms out there. Margex exchange uses the combined liquidity of 12+ exchanges, all in one single order book, which gives you an extremely liquid trading experience, thus you get the best price across all pairs.
Margex’s order book offers live deal flow and is $40,000,000+ deep, which ensures that a single whale won’t be able to manipulate prices while trading. This isn’t the norm, but Margex has access to several powerful liquidity providers that are able to stock the books at a higher level than other exchanges of similar age.
MP Shield System
Margex has implemented an MP Shield System, which has been developed to counter cryptocurrency price manipulation.
Price manipulation happens on a lot of exchanges — a single whale can pump or dump the price with just their account and can trade this move for big profits.
On Margex, price manipulation is a thing of the past thanks to the aforementioned liquidity provision. Margex has no illiquid assets on their platform, so pump & dumps are fundamentally impossible.
AI Technology: Smart Crypto Platform
Alongside this, Margex uses AI-based algorithmic tech to monitor the consistency of price feeds received by each liquidity provider.
Margex as a part of its trading infrastructure guarantees also continually monitors the order book for any suspicious trading activities, and they promptly put a stop to any big suspicious traders that are looking to manipulate the books whilst derivatives trading.
Margex’s User Interface
Margex‘s stunning & user-friendly interface makes it an absolute pleasure to trade on. Margex exchange’s UI is something users absolutely love as one of its core features since it stands out from all of the other boring, drab exchanges out there.
When you head to the ‘Trade’ section on Margex, you’re met with a beautiful display that traders in reviews have described as ‘gorgeous’ and ‘intuitive’.
On the left, you can find your order creation tool, which is labeled clearly with the three trading order types: ‘limit’, ‘market’, and ‘stop market’. You can set leverage, and you can select whether you want to buy/long or sell/short.
one can view a beautiful chart that displays the price history of the crypto/security you’re trading (like BTC or ETH), and all of your positions are shown at the bottom. You can toggle between open positions, active orders, positions history, and order history.
On the right-hand side of the page, you can view Margex’s superior order book in real-time, so you can observe trends as to what’s currently going on in the specific crypto/security market that you’re observing.
Margex’s UI and UX was designed by traders, for traders, and it clearly shows. Just like the order UX flow, every other page on Margex is clear, precise, intuitive, and most importantly, a visual joy.
Margex’s Order Types, Trading Pairs & Fees
Margex has an array of common order types that help add flexibility to your trading. In this Margex review, we’re going to explain exactly how each order type works.
A limit order executes when a certain level is hit. While trading on Margex, you can choose any of the trading pairs like BTC USD or ETH USD and set a limit sell or a limit buy. It will only execute once the particular trading pair hits that level.
A market order on Margex fills immediately at the best available price. On Margex exchange, traders get an extremely liquid order book (as mentioned before) across all trading pairs, so the price they get is always good.
If you’re using a limit order, you will be charged a maker fee, since you are the one making the order book. If you use a market order, you’ll be charged taker fees, since you’re taking someone else’s limit order in order to fill your market order. More about Margex fees are discussed further in the section.
Stop market order
With this order type on Margex, you can set a level that will trigger a market order. This can be a buy or a sell. The moment the pair hits your stop, a market order will immediately be issued.
You may have heard of ‘market manipulation’ on other crypto exchanges where whales try to hunt for stops and liquidate people. This isn’t possible on Margex thanks to the highly liquid order book and MP Shield price manipulation protection service.
A stop loss order lets you minimize your losses by automatically closing out your position once it hits a certain level.
A take profit order allows you to close out your position once you’ve hit a target level of profit.
Stop loss and take profit orders are extremely useful since they allow traders to modify their trade positions automatically even when they’re asleep — you don’t need to constantly manually monitor them.
Margex’s trading fees are extremely competitive compared to other major crypto exchanges. The low fees are pretty amazing to behold, especially considering the MP Shield that makes trading much safer than other cryptocurrency derivatives trading exchanges.
The trading fees differ slightly between trading pairs. The maker fees are the same across pairs: 0.019%. Maker fees are the lowest since they are paid by people stocking the order book. Maker fees are levied on limit orders, not market orders, as mentioned before.
The taker fee (higher than the maker fees for reasons mentioned above) are levied on market orders. Taker fees are also the same across pairs. If you don’t want to be charged taker fees, you can use a limit order instead, although your order won’t be executed immediately and may be missed. With a market order, you get instant guaranteed execution at the cost of taker fees.
The trading fees Margex charges for leverage positions are different from spot positions. Leverage positions’ fees differ between trading pairs.
LTC USD has the highest margin funding fee (0.27% for long and 0.2% for short). ETH USD comes down to 0.07%/0.05% long/short. XRP USD is 0.07%/0.075%. BTC USD is 0.07%/0.05%. YFI USD is 0.038%/0.04%. EOS USD is 0.033%/0.035%. As you can see, trading Margex pairs is extremely cheap, even for expensive currencies like BTC.
Leverage Trading on Margex
Margex is a rare trading platform that goes all out, offering 100x leverage to all users across trading pairs.
Leverage trading on Margex allows one to trade with amounts far larger than their own capital, by borrowing funds directly from the exchange.
Users right off the bat can start trading with leverage on the exchange. The exchange offers a minimum leverage of 5x and a maximum of 100x leverage (which means with every $1 you have, you can open a $100 position).
The order types work exactly the same as described before — however, on leverage trades, the low fees you enjoy on spot are inflated a bit by funding fees. The funding fees mentioned in the previous section are added to your trades since your leverage is created by borrowing funds from the exchange.
Normally, with crypto derivatives, if you have cash, you can only purchase a cryptocurrency (thus betting on it going up).
You can’t directly make profit from the crypto going down. With leverage, Margex offers the ability to short any pair, which means you can actually make money from the crypto going down without having to own it in the first place.
The way this works is, Margex allows you to borrow the crypto from their exchange fund. After you borrow the coin, you can sell it at the current price, which will open a short order.
Users can then wait for the price to go down, and rebuy the crypto at a cheaper level. They can pay the security back to Margex by closing the position, and they can pocket the difference as pure profit (after paying funding fees). All of this is done without having to deposit the coin itself — it’s all through Margex’s leverage funding facility.
Remember, high leverage (especially 100x leverage) can be a very powerful tool in your trading journey, but it can also be destructive if wielded improperly.
Be sure to do your due diligence and understand the implications of leverage and cross/isolated margin trading on the platform before you start trading cryptocurrency derivatives with high leverage.
Margex’s Security & Privacy Features
This Margex review wouldn’t be complete without a full rundown of how Margex as a platform treats security and privacy. In the cryptocurrency world, users’ primary consideration should be security, and trading features are frankly a lesser concern compared to the safety of your deposit.
Margex is based in Seychelles, and users don’t require any KYC information whatsoever to open up an account.
Gone are the days where you need to give your name, number, passport, selfie, and more to open up a simple trading account — now, you can deposit on a cryptocurrency exchange with full-fledged trading features and 100x leverage without having to compromise on your privacy.
Deposits, Withdrawals, Login & Funds
Margex comes with login two-factor authentication, email confirmations for withdrawals, encrypted data streams, and crypto/Bitcoin-based deposits so you don’t have to give up your banking details to make a deposit.
Withdrawals on the platform are processed once per day in a secure manner, instead of having a hot wallet connected directly to the server, which is vulnerable to hackers.
In fact, 100% of Margex’s funds are stored offline in a multisignature cold wallet, and no low-level support employees can gain access to it whatsoever, which makes the entire setup tenfold more secure than similar exchanges that blindly give hot wallet access to people at the company.
As a cryptocurrency exchange, where people will doubtless deposit large sums of money and will be trading with 100x leveraged positions, Margex has clearly made no compromises on safety.
Every user account is safe — with air-gapped withdrawals (the once per day system), Bitcoin deposits and Bitcoin withdrawals, encrypted platform connections, and more, it reinforces the epitome of what a safe cryptocurrency exchange should look like.
Margex Bonus Features
Below we have listed some of the extra features you’ll find on the Margex platform.
The platform has an amazing referral affiliate program, where you can earn a bonus by referring friends to the exchange. It’s massive, too — you get 40% of the trading commission that your referrals pay. You are given daily payments in Bitcoin.
Margex Referral Code: 20657931 (Get Sign Up Bonus Offer)
Margex has a demo version of their site, where you can test it out live and review what it’s like to trade before you actually deposit real money.
This is an excellent feature for novice traders who are not yet comfortable with leveraged trading and want to dip their toes in the water first without putting real Bitcoin on the line.
You can’t make deposits/withdrawals with real money on the demo platform, but you can make all trade types to learn the ins and outs of the exchange before moving to the real deal.
On Margex, you can get paid a $50 trading fee credit simply by depositing $50 of your own. You’ve heard of 10% or 20% bonuses on other exchanges, but a 100% bonus is massive and extremely generous.
Margex Trading Platform Review: Conclusion
In this review, we’ve exhaustively gone over Margex’s top features and what makes it stand out. It’s clear that Margex is a shining star in the crypto world, and is a breath of fresh air when it comes to exchanges.
Margex brings to the table an unparalleled sense of security & privacy, whilst also providing an amazingly useful and liquid trading engine combined with one of the most visually compelling user interfaces available on the web.
If traders were forced to pick just one exchange to trade on, the right choice to make would be Margex — every time.