ATC Brokers or BitMEX – which is better for UK traders 2024? Compare ATC Brokers and BitMEX in this detailed breakdown of their platforms, features and fees.
ATC Brokers is a London-based brokerage that was founded in 2012 and has since opened offices in California and the Cayman Islands. The firm benefits from rigorous FCA regulation for maximum client security, with leverage rates are capped at 1:30. The broker offers both self-directed investing as well as PAMM accounts, with access to the broker's MetaTrader 4 and MT Pro software.
BitMEX is a crypto exchange and derivatives trading platform, launched in 2014. The firm offers a fiat–crypto onramp, spot trading, and crypto derivatives including perpetual contracts, traditional futures and quanto futures. BitMEX offers amongst the largest market liquidity of any cryptocurrency exchange.
Pros
I'm a fan of the broker's advanced MT4 toolset called MT Pro, which supports advanced reporting and a more sophisticated one-click trading functionality
I also rate the rapid trade execution through the broker's ECN pricing model, which allowed me to access spreads from 0.3 pips on EUR/USD
Top-tier FCA regulation ensures that certain customers are protected from financial malpractice via robust safeguarding measures
ATC Brokers offers both self-directed trading and PAMM investment accounts for experienced account managers
The Guilds social trading service allows traders to participate in competitions and earn rewards, including a weekly prize pool worth 4,000 USDT at the time of writing
BitMEX continues to deliver a considerable amount of market information for free, as well as trading guides and community channels on Discord, Telegram and more
The broker offers high levels of security, using a combination of hot and cold wallets and cryptography key management
The native token, BMEX, can be staked with up to 15% trading fee discounts, among other exclusive privileges
Comprehensive customizability is available within the platform, with movable widgets and order book filters
Traders have the opportunity to connect with investors using the intuitive inbuilt chat feature
The exclusive crypto platform makes it more streamlined than other multi-asset terminals
Traders can earn interest if they HODL Tether and Bitcoin
The broker offers 2 API systems for seasoned traders
Cons
ATC Brokers has a disappointing asset range compared to most competitors, supporting a total of just 51 products
I'm disappointed that there is no commission-free pricing model available for less experienced and lower-volume traders
I expected a larger range of educational and analysis materials from the broker, which would help clients make more informed trading decisions
The minimum deposit limit of $2,000 is pretty high in my opinion, especially with such a small asset list on offer
BitMEX is an offshore firm and is not regulated by any reputable authority, though this is common among crypto brokers
BitMEX is geared towards more active traders, with fewer tools and features aimed at newbies
The broker was involved in a legal dispute with US regulators which resulted in fines
Withdrawals are only carried out at a specified time of day
My tests only uncovered 51 CFD products spanning currencies, indices, energies, precious metals and cryptocurrencies - a very underwhelming line-up compared to most other brands.
Leverage
1:30
FTSE Spread
0.6
GBPUSD Spread<
0.6
Oil Spread
0.03
Stocks Spread
Variable
Forex
ATC Brokers offers a poor range of 35 forex products through the MT Pro platform. That said, I was impressed with the very tight spreads and low latency speeds.
Assets
35+
GBPUSD Spread
0.6
EURUSD Spread
0.3
EURGBP Spread
0.5
Cryptocurrency
BitMEX continues to offer a highly competitive crypto trading environment, with cheap $1 contracts and leverage up to 1:100. The broker’s proprietary platform offers cutting-edge trading features, including a customizable order book, a depth chart and dozens of technical indicators.
