Costs, licensing, consumer protection Privacy, self-custody, censorship resistance
C D Crypto Derivatives Exchanges (Futures/Perp)

BitMEX

BitMEX

HDR Global Trading Limited

Status
Private company
Legal HQ
Seychelles
Founded
2014
Corporate site
bitmex.com

Main investors / shareholders

  • Arthur Hayes · Other
  • Benjamin Delo · Other
  • Samuel Reed · Other

Private company founded by three co-founders. In 2020-2025 faced DOJ/CFTC legal actions for BSA violations, with total fines $100M+$100M and presidential pardons in 2025. Never hacked or lost customer funds.
3.3/5 1.2/5 · Data verified on

A custodial derivatives exchange that invented perpetual swaps in 2016, with BTC-margined contracts and maker rebates (down to −0.025%). It is weighed down by a FinCEN fine, indicted founders and a particularly risky leverage of up to 250x.

Visit official website ↗
31
Transparency: Very low
31/100 · see methodology
31
Data exposure: Minimal
31/100 · lower is better for sovereignty · methodology

Data & conditions

Maker / Taker fee -0.01% / 0.075%
Markets Derivatives
Max leverage 100×
Supported assets 50+
Trading pairs 59+
24h volume $516M
Fiat on-ramp Yes
Deposit methods Crypto deposit, Fiat onramp via third-party (Onramper, MoonPay, etc.)
Geo restrictions USA, Cuba, Iran, Syria, North Korea, Crimea, Sevastopol, Donetsk People's Republic, Luhansk People's Republic, Kherson Oblast, Zaporizhzhia Oblast, Seychelles, Bermuda, Japan, Ontario (Canada), Quebec (Canada)
Staking / Earn BMEX token staking only (up to 7.5% yield); no general crypto staking/earn
Fund custody Custodial (platform holds funds)
KYC Full
Supported countries APAC, LATAM, MENA · 50+ countries
Regulator FSA Seychelles
OAM Italy registration No
Segment B2C
Past incidents [object Object] · [object Object] · [object Object] · [object Object] · [object Object] · [object Object]
MiCA / License status VASP Seychelles Registrazione limitata

Strengths

  • Inventore perpetual swap (2016); maker rebate −0,025%; BTC-margined.
  • No notable sovereignty advantage documented.

Weaknesses

  • Fine FinCEN; fondatori indicted; 250x leverage risky.
  • Custodial: the platform holds your funds and can freeze or lose them.
  • Full KYC required: verified identity, zero pseudonymity.
  • Subject to regulation (Registrazione limitata): reporting to authorities and freezes on order.
  • Geographic restrictions (USA, Cuba, Iran, Syria, North Korea, Crimea, Sevastopol, Donetsk People's Republic, Luhansk People's Republic, Kherson Oblast, Zaporizhzhia Oblast, Seychelles, Bermuda, Japan, Ontario (Canada), Quebec (Canada)).

Verdict

C D ★ 3.3/5 ★ 1.2/5

The C reflects a heavy past: a FinCEN fine, indicted founders and a string of historical incidents erode trust, while the Seychelles registration offers little protection and the service is not even available in Italy. The 0.075% taker fees are uncompetitive and leverage pushed to 250x is among the most dangerous on the market for the average user.

BitMEX keeps a pioneer's soul — it invented perpetuals in 2016 and is BTC-margined with maker rebates down to −0.025% — but stays custodial and full-KYC, far from the trustless ideal. The BTC-native culture earns a point or two; mandatory identification and custody take them back.

Privacy & anonymity 30% 0.8
Fund control 20% 0.0
Censorship resistance 20% 1.5
Costs 10% 4.3

Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.

"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.

FAQ

What are BitMEX's fees?

On BitMEX, spot fees are maker -0.01% / taker 0.07%. They drop with monthly volume and VIP tier.

Is BitMEX regulated in Europe?

Regulatory status of BitMEX: Registrazione limitata. Licence: VASP Seychelles.

Does BitMEX publish Proof of Reserves?

Proof of Reserves publication is not documented for BitMEX. No third-party reserve audit is documented. Reserve transparency is a critical factor after the FTX collapse.

Can I send transfers to third-party IBANs from BitMEX?

No, BitMEX is an exchange and does not allow transfers to third-party IBANs: fiat withdrawals return to a bank account in your own name.

Does BitMEX support derivatives and futures?

BitMEX offers derivatives trading, with up to 100x leverage.

Sources

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Update history

✓ Terms unchanged since Jun 14, 2026

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