Margex Review — Is it the best Crypto trading platform?

Published in

Coinmonks

7 min readApr 23, 2024

Crypto Derivative trading can be intimidating at first, but finding the right platform tailored to the needs of new users can make a huge difference. This article will explore the Margex Review for your smooth entry into the cryptocurrency world.

What is Margex?

Margex is a cryptocurrency exchange that specializes in trading derivatives. Since going live on the internet in 2020, the Exchange has expanded its services and gained the trust of cryptocurrency traders worldwide. 100x leverage will be available to users on a variety of trading pairs. The platform is trustworthy and safe, offering unbiased financial advice to help novice and experienced traders get started. The company stands out above other platforms in the cryptocurrency derivatives market because of its user-friendly design and reasonable pricing.

Margex Review: Products and Features

The user experience is taken into mind when designing Margex. Savor is the most user-friendly interface and market reporting system in the business.
Margex provides a $40,000,000+ deep order book from over 12 liquidity sources and a real-time deal flow. This guarantees that a single trader with a sizable order cannot manipulate prices.
With settlements conducted in the collateral of your choice, Margex’s multi-collateral wallets allow you to trade practically any pair featured on the Exchange and deposit any cryptocurrency.
Leverage trading is available up to x100. By creating long or short positions with up to 100x leverage for any asset on the platform, you may go long (buy) or short (sell) in any market direction.
Through copy trading, traders may maximize their profit potential and create a mutually advantageous opportunity by creating and maintaining their strategies or adopting those of other successful traders.
Staking is a yield-generating method that can be used through a variety of CeFI and DeFi initiatives. It lets you gradually generate passive income (APY% or Yield) without having to sell your coin.

Margex Review: Supported Cryptocurrencies

Offering a large variety of currencies is not Margex’s main emphasis. Instead, the focus is consistently placed on the high caliber of its derivative items and the inexpensive associated costs. The money used for trade has

Bitcoin (BTC)
Tron (TRX)
Ethereum (ETH)
Dai (DAI)
polygon(MATIC )
Chainlink (LINK)
USDT, or Tether
Avalanche (AVAX)
USD Coin (USDC)
Bitcoin wrapped (WBTC)

Margex values inclusivity and makes a concerted effort to assist newcomers. Offering deposits and withdrawals in well-known fiat currencies in nations like Australia (AUD), New Zealand (NZD), the UK (GBP), and Singapore (SGD) is a significant component of that.

Margex Review: Fees

This platform charges two types of fees — trading fee and Funding fee.
This platform offers a taker fee of 0.06% and maker fees of 0.019% anytime a trader’s order is executed.
Margex does not charge a deposit fee.
Conversely, traders suffer funding costs when they keep positions open past predetermined funding periods. These intervals usually occur at precise timings (00:00, 08:00, and 16:00 UTC) every eight hours.
The costs are computed using the current funding rates for the chosen trading pair and are levied depending on the open position size. Two factors that affect funding rates are market variability and the proportion of long to short positions.

Margex Review: Deposit and Withdrawal Methods

The sole currency Margex accepts for direct offers and withdrawals is Bitcoin (BTC). Users can also use Changelly, a third-party supplier, to make credit card deposits. Users can deposit by scanning the provided QR code or copying the Bitcoin address into the wallet from which they are making the deposit. Unlike most other exchanges, Bitcoin deposits require just one block confirmation, making them quicker.

Withdrawals are likewise only feasible using Bitcoin. You must provide your 2FA code, your withdrawal address, and the amount you’re withdrawing (plus a miner’s fee). It might take a little while for the money to appear in your wallet because, for security reasons, all withdrawals are handled once every day at 13 UTC.

Margex Review: Security

All data exchanged between this platform and your browser are encrypted by SSL encryption.
Furthermore, security is ensured by 2-factor authentication and email notifications for all withdrawals you make.
It stores all the assets in a multisignature offline cold storage with real-time monitoring and alerts for all asset movement.
Elastic server infrastructure, especially in extreme market volatility, can quickly scale up during peak hours and give every client rapid order processing and execution speeds with the lowest latency possible.
DDOS defense mechanism, preventing overloads in the event of hacker attacks on Margex
Using trading anti-denial service protection, platform freezes and “unexpected order submission errors” are lessened.
A protective mechanism against price squeezing that fulfills your purchase at the anticipated price
Assets with little liquidity or those heavily impacted by manipulation are not listed on Margex.
Their real-time machine learning technology (MP ShieldTM technology) detects and neutralizes suspicious trading activity, such as spoofing, bluffing, and price feeds.

Margex Review: Mobile app

Margex provides a reliable platform for trading digital trading with a user-friendly interface.
Traders may take control of the markets while on the road and have the flexibility to trade from any location at any time with the Margex mobile app. Its layout is akin to the desktop platform’s, offering consumers a seamless and rapid trading experience.
This platform offers two different dedicated mobile apps for leverage trading and copy trading.
Leverage and Copy trading Margex app for Android devices is available on the Google Play Store.
Leverage and Copy trading Margex app for iOS devices is available on the Apple Play Store.

Margex Review: Customer Support

Throughout their trading experience with Margex, customers will be safeguarded and assisted by a group of knowledgeable and helpful customer care experts who are constantly available.
Customer support may be contacted via email, an on-site form, or live chat. The average response time for live chat is 10 minutes.
You can also contact them on their various social media platforms, including Discord, Telegram, Facebook, YouTube, and Twitter.

Margex Review: Referral Program

Sharing your Margex referral link can help you create a network of traders and earn 40% of all trade charges paid by your referrals!
For traders looking to increase their earning potential or for those who would prefer not to trade themselves, the Margex Referral program is a great method to make money.
You may create a network of traders by referring others, and you can earn up to 40% of all transaction fees that your referrals pay!
The Referral tab of your account contains details and essential information about your network of referrals, as well as the current status of your referral rewards.

Conclusion

All things considered, Margex is a solid option for a crypto derivatives trading platform with high leverage, particularly for traders who value anonymity, want cheap costs, and have access to a selection of reliable trading pairs. Thanks to its referral program, strict security protocols, and very user-friendly interface, both beginners and seasoned traders in derivatives are likely to find their eternal home here.

To withdraw the funds, do the following:

Open your wallet;
Click WITHDRAW;
Enter your withdrawal details.
You can verify your withdrawal by entering the PIN that was mailed to you. Withdrawals are processed between 12 and 14 UTC.

With the ChangeNOW and Changelly widgets, which are available straight from your Margex account wallet, you may buy cryptocurrency with a bank card from your Margex wallet.

Click the “Start Trading” button on the Margex main page.
Once on the signup page, you must enter a password and email address of your choice.
All you have to do is confirm the email address you use. Input the code that you can find in your email.

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