Margex Review: Is it Safe to Trade on Leverage?

Margex is a cryptocurrency exchange platform that offers up to 100x leverage. Further, in this Margex review, we’ll be going through all of the platform’s major features including its trading fees, security, pros & cons, etc.

Established in2020
Supported crypto assetsBTC, ETH, USD, XRP, LTC, YFI, EOS
Supported fiat transactionsNew Zealand Dollar, AUD, UK (Pound Sterling), Singapore (SGD)
Headquarters Seychelles
Minimal deposit required$10
Transaction Fees0.19% / 0.060%
Client supportAvailable 24/7
Withdrawal FeesAuthorized crypto network fees

Summary (TL;DR)

  • Margex is a newly designed crypto exchange that offers up to 100x leverage in Bitcoin and other assets.
  • Margex brings in liquidity pools for more than 12 exchanges at one single place. 
  • Affordable fees are offered by the platform in order to bring in loyal customers. They offer 0.019% on maker fees and 0.060% on taker fees. 
  • Unlike other trading platforms, Margex provides up to 100x leverage in order to minimize the risks of trading.
  • Margex doesn’t care much about the KYC procedures of traders as they dont want them to go through any kind of complications.
  • Further, it offers 40% through affiliate programs, which turns out to be pretty generous as compared to other platforms. 
  • As spot trading is not available on Margex, derivatives trading is the only option left for leveraged trading. 
  • The trading view of Margex proves that it is simple to understand without much complexities. 
  • In Margex, withdrawal methods are only processed in BTC values and no other asset is accepted. 
  • Margex has a unique element for the protection of its users’ data known as AI-customized M&P Shield with data encryption.

Also Read: An Ultimate Guide To Leveraged Token [Bull Token]

Key Features

Commendable for Beginners

Margex provides its traders with exceptional trading features and easy-to-use features. These traits are more helpful for people who are newcomers as it does not seem much complicated. Additionally, the website provides many aspects such as videos, articles, and reference links to guide beginner traders to trade without any issues.

Deep Liquidity

Margex exchange’s liquidity pooling system is known as one of its kind among all crypto exchanges. The pooling system integrates more than 12 liquidity providers into a single, deep order book. Through this feature, it makes sure all your entry, and exit costs are considered to be perfect with the thinnest spreads present in the market.

Also Read: DeFi Yield Farming and Liquidity Mining

Combative trading fees

As compared to the other crypto trading platforms, Margex offers trading fees that turn out to be affordable for many traders. In recent times, Margex has been charging around 0.019 percent maker fee and 0.060 percent taker fee. For instance, if we compare Margex with ByBit, this platform offers 0.025 percent on maker fees and 0.075 percent on taker fees. 

Provides up to 100x leverage

Traders who are quite experienced in trading cryptocurrencies might be knowing how vital “leverage” is. Margex tends to provide up to 100x leverage, which helps to potentially increase the benefits while trading crypto assets. Although, if any type of loss incurs while trading, the risks multiply similarly. 

No KYC procedures

Unlike most of the crypto exchange platforms, Margex does not emphasize much on the KYC (Know Your Customer) procedures. Not only are these procedures monotonous, but they are also protruding as well. Margex protects its traders from going through such heavy processes by eliminating the KYC process while creating an account. 

Margex Key Features
Margex Key Features

Affiliate Program

Margex consists of an affiliate program, among its other features. With the help of this program, investors can earn up to 40% commissions of Margex’s trading fees. These trading fees are produced from the futures and spot trading of the respective trader’s referrals.

Considering all the crypto exchange platforms, 40% turns out to be an eye-catching commission fee. Actually, this turns out to be like an acquiescent source of income. In the month of January 2021, Margex had approximately paid out 12 BTC (which amounts to around USD 400,00) through the referral program. 

Margex Review: Is It Safe To Trade On Leverage?
Margex Affiliate Program

Derivatives Trading

In Margex, derivatives trading is the only trading option that is available. This means that spot trading is not accessible as of now. On Margex, you will be able to find a lot of famous crypto trading pairs, including BTC/USD, XRP/USD, ETH/USD, LTC/USD, YFI/USD, and EOS/USD. 

In addition to this, Margex is famous for offering leveraged trading to its clients. In leveraged trading as well, they only offer futures that do not have any expiry date and no futures along with expiry dates. Here, the maximum leverage level for these perpetual is 100x. Although, it is essential to know that traders who trade on an advanced level should be cautious about leveraged trading. It is true that leveraged trading offers some tremendous value but also leads to some considerable losses. 

Derivatives Trading
Derivatives Trading

Margex Trading View

It is evident that just like other crypto trading platforms, Margex also possesses Tradingview charting. The Tradingview indicates the price chart of plenty of crypto-assets and their position. Apart from that, you can also buy and sell your assets here and place orders for crypto assets.

In Margex, you will also be able to look into your order history (if you have traded on Margex before). Margex has a simplified version of what a trading view looks like. While trading, it’s only your decision whether you want to sell or buy assets according to your requirements. In addition to that, you can also decide which trading view is suitable for you. 

Margex Fees

Margex Trading Fees

While trading different crypto assets, the exchange platform tends to charge you some amount, which they like to name as “trading fees”. The trading fees depend upon the value of assets you trade. Usually, the exchange takes place between the makers and takers. As spot trading is unavailable on Margex, the maker’s and takers’ fees pertain to the contracts trading only. Hence, the takers pay 0.06%, whereas the makers pay 0.019%. Considering the list prepared according to the contract trading average fees, the average maker’s fee is 0.064%, and the taker’s fee is 0.014%. Consequently, Margex offers a similar fee rate as compared to the average fees list. 

Margex Trading Fees
Margex Trading Fees

Margex Withdrawal Fees

Generally, withdrawal fees fluctuate between various crypto assets. In case you choose to withdraw BTC, you will pay a small amount of BTC as withdrawal fees. Similarly, if you withdraw ETH, you pay ETH. Besides, Margex charges 0.0005 on BTC withdrawals, which turns out to be less than the global average fee rate and pretty combative as well. 

Deposit Methods

Margex has a self-styled element which is called “fiat on-ramp”. In this aspect, it is possible for traders to trade crypto assets with the help of regular cash. Earlier, purchases of fiat currency were possible using credit cards or debit cards.

But, as of 2nd March 2021, Margex merged with a big firm named OpenMonet, which allowed them to permit wire transfers and PayPal transfers. Also, the traders who are new to the crypto market do not trade with crypto derivatives, but they can do so apparently. Moreover, Margex is mainly identified as an “entry-level exchange.” 

Withdrawal Methods

Similar to deposit methods, withdrawals methods on Margex are pretty undemanding as well. Traders can withdraw assets such as Bitcoin and other fiat currencies as well.

Also Read: Bityard Copy Trading – An Ultimate Guide

Security and Protection

Unlike most of the crypto trading platforms out there, Margex has a unique element for protecting its users’ data known as AI-customized M&P Shield with data encryption. Further, this trading platform safeguards the investors’ information by eliminating the risk of crypto trading pairs created by price maneuvers.

In addition to this, Margex has created its own cold wallet where all the funds are stored. With the help of these cold wallets, they track real-time monitoring and notices for all fund drifts. Apart from this, they detect any kind of hostile activity thanks to the elastic server specially designed for exposure to increase in the activity. 

Additionally, Margex uses the 2FA (two-factor authentication) through Google Authenticator. Here, all the users’ data is encrypted properly and then all their activity is directed to their registered email address. 

Security And Protection
Security and Protection

Margex Review: Pros and Cons

ProsCons
Low trading fees as compared to other trading platformsRestricted offer on all trading pairs
Liberal referral programDoes not assist US investors
No KYC requiredNo mobile app is available 
High liquidity trading
Competitive trading fees

Margex Review: Conclusion

Margex might be identified as a “newcomer” in the crypto market, yet their assiduity towards providing the best features to their users is commendable. This platform is suitable for both beginner traders as well as expert investors in terms of its interface and security guidelines.

In addition to that, the platform’s website is full of tutorial videos, articles, and probes for references. Apart from that, the combination of a liquidity pool of more than 12 exchanges along with the fastest trading serves to be one of the best points. 

Frequently Asked Questions

  • How to trade on Margex?
  • Traders can initiate their journey of trading on Margex pretty easily with the help of two-factor authentication. After they sign up for the program, they benefit from a 100x leverage trading with a minimal deposit amount of 10$. 

  • Is Margex available in the US?
  • Considering the present time, Margex is unavailable to investors based in the US. 

  • Is Margex safe to use?
  • In terms of security, Margex truly stands out. There are various aspects that Margex makes use of to ensure its traders’ safety which includes 2FA, AI-customized M&P Shield with data encryption, and cold wallets. 

  • What is 10x leverage? 
  • In comparison, if you were to invest the same $1,000 and trade using x10 leverage, the dollar value of your position would be equal to $10,000. 1% of $10,000 equals $100, so for every 1% move in the market, you can gain or lose $100. 

  • Which assets can be traded on Margex?
  • At the time of this writing, the crypto assets and crypto trading pairs that you can trade are BTC/USD, XRP/USD, ETH/USD, LTC/USD, YFI/USD, and EOS/USD. 

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    Gautami Desai

    I am an undergraduate student pursuing textile engineering from FTE, MSU. I have a fantastic sense of passion and dedication for writing (which also turns out to be my most vital point). At CoinCodeCap, I'm currently working as a content writer and a voice-over artist, and I love it here!