PrimeXBT or BitMEX? Which One is Best to Bitcoin Margin Trade & Why?
I'm going to cut straight to the chase.
Bitmex has been around for longer but PrimeXBT is better...for a number of reasons. Many of which I think can be attributed to its youth by learning from the pros and cons of existing trading platforms.
For instance, Bitmex is notoriously unreliable, so much so that the term has been coined ‘Bitmex rekt’ as traders are often liquidated due to the platform’s connectivity issues. This is something PrimeXBT has significantly improved upon, all the while still offering the same possibility to trade with up to 100x leverage on all available cryptocurrencies.
On this note, Bitmex only offers 100x leverage to BTCUSD trades, whereas PrimeXBT extends this to 9 major pairs: BTCUSD, ETHUSD, XRPUSD, LTCUSD, EOSUSD, ETHBTC, XRPBTC, LTCBTC, and EOSBTC.
Superior features of PrimeXBT include: a modern, simplistic, and intuitive UI, customizable workspace (see demo here), multi-monitor support, advanced TA tools and order types, fast and reliable order execution, and powerful charting technology - with the possibility to trade directly off the chart.
PrimeXBT’s fees are lower at only 0.05% on all trades and assets - as opposed to 0.075% on BTC & ETH, increasing to 0.25% on all other assets.
Furthermore, PrimeXBT offers anonymous access to 30+ financial instruments in fx, commodities (silver, gold, oil, etc), and stock indices - with no KYC.
Unlike Bitmex, PrimeXBT features a mobile trading app for both Android and iOS devices that provides the exact same trading experience as the web platform - powered by the same robust API and technological infrastructure.
Lastly but importantly (incase you didn’t know), Bitmex is under investigation by the CFTC - suspected of trading against its clients by weaponizing its supposed ‘server overloads’ and technical issues to profit from its clients' losses. It seems many are jumping off the sinking ship with more than $135M of funds withdrawn from the platform in only a week since news of the investigation broke.
As you can see, there are several reasons that make PrimeXBT a more advantageous and safer choice.
