Bybit is an established crypto exchange aimed at online traders. Clients can speculate on leading tokens like Bitcoin, access crypto staking and loans, or trade NFTs using the firm's digital marketplace. Millions of users have signed up with the firm since it launched in 2018.
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
Dual price mechanism reducing unfair liquidations
Increased profit potential with leverage up to 1:100
24/7 customer help from a multilingual service team
No limits on trades and withdrawals on any account
Industry-leading cold wallet strengthens security and improves the safety of funds
A useful risk management tool protecting retail traders against unfavorable price fluctuations
100,000 TPS per contract which results in no overloads with an ultra-fast matching engine that is 10x the industry average
Retail clients can easily swap between supported coins within accounts, take profit and stop loss, strategy alerts, and adjust orders
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
Bybit is not currently regulated in any country
Residents of some countries are restricted from opening an account, including clients from the US
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
Use the Top Traders leaderboard to follow experienced crypto investors. Mirror positions on Bitcoin, Ethereum and more for a small charge.
Social Trading
No
Yes
VPS Hosting
Yes
No
Tournaments
No
No
Demo Competitions
No
No
Ethical Investing
No
No
Custodial Account
No
No
Guaranteed Stop Loss
No
No
Inactivity Fee
$0
Islamic Account
No
No
Account Currencies
EUR
GBP
TRY
RUB
Cryptocurrency
Buy dozens of crypto tokens with one click, or choose between hundreds of tokens to trade on spot markets, with more options than many alternatives. Crypto derivative products include perpetual futures and options.
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.
