Margex Review – The Best Crypto Derivatives Trading Platform in 2024?

Do you want to make the most of the crypto volatility? If yes, then Margex offers the perfect opportunity as a crypto derivatives platform to trade with high leverage. This crypto exchange offers several opportunities for you to amplify your crypto earnings. But is it the right choice for you?

In this Margex review, we will cover all about this exchange, what it has to offer, where it stands out, and how it compares to other brands in the crypto space. So, without wasting any time, let’s get started!

Our Margex Review Summarized

Established in 2019, Margex is a digital asset trading platform boasting fast order execution time, a deep order book, and a capacity of 100K trades per second. With a mission to provide everyone with an easy-to-use, safe, and fair platform to trade cryptos, Margex has built a cutting-edge trading infrastructure that offers unrestricted wealth-building opportunities.

Here are some of the most prominent features of Margex: 

• A user-friendly platform that caters to both beginners and professional traders
• A live demo account to test the platform features and learn the art of trading
• A simple process to register without needing to KYC
• Copy trading feature for traders of all experience levels
• High leverage on all crypto assets
• Staking without any lock-up period 
• Option to buy crypto with a credit card
• Multi-collateral wallets to trade any pair & deposit any crypto
• Multilingual customer support available through 24/7 live chat and email
• Robust security with cold storage, email notification, 2FA, and asset access segregation

Margex Exchange at a Glance

Which Cryptos Does Margex Offer?

This cryptocurrency exchange offers a wide range of crypto assets for you to trade, buy, sell, store, and manage. These include the majors like BTC, ETH, BNB, LTC, and XRP, as well as popular coins like SOL, DOGE, and PEPE. 

Besides DeFi coins such as JUP and OP, USDT, USDD, and USDC are the supported stablecoins. Some other coins that you’ll find here are RUNE, NEAR, SUI, XMR, and ATOM. Most recently, Margex also added ALGO, AGIX, INJ, RNDR, BONK, FET, TIA, FLOKI, and JasmyCoin to its list of cryptos.

While Margex does cover a wide range of crypto, the number of listed assets is rather limited compared to other popular exchanges. For instance, Bybit has about 500 crypto on its platform, OKX has more than 300, Coinbase has about 250, and KuCoin has the most, almost 1000.

Margex Fees and Costs Explained

When trading crypto on Margex, the platform charges competitive fees. For futures trading, Margex charges two types of fees: a trade fee and a funding fee. 

Trade fee occurs when an order is executed, whether it is the opening or closing of a position, depending on the order type, regardless of the crypto you are trading. For limit orders, a maker fee of 0.019% is charged for adding liquidity. For market orders, a taker fee of 0.060% is charged for removing the liquidity from the order book. In comparison, Binance charges 0.02% maker fees and 0.05% taker fees for a 30-day trading volume below $1.5 million.

The other type of fee is funding, which is incurred when a position is carried into a new 8-hour funding period. Funding rates are directly related to the ratio of Longs to Shorts at the time and the underlying market volatility. Thus, funding rates help keep the price of perpetual futures close to the spot price of the underlying asset and are paid by one side of the contract to the other.

Margex does not charge additional fees for its crypto conversion feature. However, a third party may charge you for using debit or credit cards, e-wallets, SEPA, bank transfers, and instant crypto exchanges like Changelly and ChangeNow.

Margex Futures Trading

While spot trading is currently in development on Margex, the exchange offers attractive leverage futures trading on all the listed cryptos. You can both long and short cryptocurrencies on high leverage using Margex’s cross margin and isolated margin.

For Bitcoin, Ethereum, and BNB, you can trade with a minimum of 5x leverage and a maximum of 100x leverage. 

While minimum leverage is the same for all the available trading pairs, the maximum is reduced significantly for other altcoins. You can still use 25x to 50x leverage for coins like SOL, DOGE, PEPE, and more. AUDIOUSD is the only trading pair with a leverage of 20x and FLOKI has the least at 15x.

Orders supported at Margex include stop loss, market orders, limit orders, and take profit. To further assist with the trading and to avoid missing any opportunities, Margex allows you to set alerts for when prices go above or below a target price, top 10 trading volume coins, unusual changes in trading volumes on exchanges, and even drops in ETH gas prices.

Note that Margex’s futures trading put it at the top of our list of best Binance alternatives.

Demo Account

At Margex, an advantage for new traders is the availability of risk-free trading with virtual funds, where you are not required to make any deposit. Here, you are given 700 WBTC to get the hang of the crypto trading world as well as get an idea about Margex and if it’s a suitable choice for you.

The clean user interface for the demo account is the same as that for regular trading. The chart is in the center, the trade box is on the left, and the order book is on the right. At the bottom half of the screen are open positions, active orders, and history.

Here, you can trade different assets at leverage just like you would with real funds. This is a great way to enter the highly risky but, at the same time, highly rewarding world of crypto futures trading. So, before you lose your hard-earned real money by pushing the leverage too high, you can see if it’s really the right trading option for you or if you should be sticking to just buy and hold. 

Copy Trading 

Margex offers you the opportunity to take advantage of the expertise of other experienced and successful traders. This option is made available via the copy trading feature, which requires just one click to copy proven traders on autopilot. Even for professionals, this allows analysis of consistently profitable traders and the application of their techniques to their own strategies. 

This service is completely free of charge but employs a profit-sharing model that splits the revenue from the copied trades between you, the trader you copied, and Margex. This way, traders get to earn for their successful trades, creating a win-win situation for all.

As for the minimum amount, it’s different for each crypto and is pretty low. For instance, 0.0004 BTC and 10 USDT.

Now, to help you make an informed decision, Margex provides you a list of top traders for you to copy along with their name, base currency, total equity, trader’s equity, followers, and ROE. So, once you have chosen a trader, you can click on the ‘Follow’ button. Next, choose an amount, confirm, and you can start copying.

Margex Bonuses & Rewards

Besides enjoying the crypto volatility and high leverage at Margex, you also get a chance to earn rewards. These bonuses start right when you register at Margex. Currently, it’s running the offer of earning as much as $10,000 in bonuses. 

Another bonus program that Margex offers is a $100 trading bonus for your first Bitcoin deposit. Once you make a qualifying deposit of $100 or more, the bonus is automatically added to your bonus balance. This offer can be claimed only once per trader. Other bonuses include special offers and a 50% discount on trade fees. You can also participate in marketing campaigns, competitions, and events.

But that’s not all. There’s also a referral program through which you can earn a flat 40% trading commission rate just by inviting your friends to the platform. Margex claims to make daily payments to its affiliates in BTC and paid out 13 BTC just last month. To become an affiliate, simply register at Margex, get your referral link, share it with your friends, and earn every time your referrals pay a trading commission.

How Safe is the Margex app?

Through its dedicated mobile apps, available for Android and iOS devices, Margex provides its users with access to global crypto markets and the ability to leverage trade from anywhere. On Google Play, the app has a rating of 4.1 and has achieved 10K downloads.

Like the website, this app offers a modern, clean, and user-friendly UI. Meanwhile, its trading engine allows for speed with lightning-fast order execution and efficiency.

While using this app, you get all the information that you need regarding your order, including price, quantity, margin, estimated liquidation price, take profit/stop loss, commission, funding fees, PnL, ROE, and more. All of this information is under your control, and any changes are executed in milliseconds.

Margex Staking Features

To help you increase your crypto holdings, Margex offers the ability to stake your tokens and earn passive income. This staking feature is currently available on limited assets including USDT, USDC, BTC, ETH, and LINK. Margex’s staking program involves both CeFi and DeFi projects.

Margex is currently offering a 5% APY (annual percentage yield), the highest on stablecoins, followed by 4.7% on Ether and 3% on both Bitcoin and Chainlink. Any yield earned is credited daily to the wallet balance. Notably, the APY is subject to fluctuation due to market factors such as supply/demand, liquidity, and volatility.  

It’s not just the high APY but also the absence of any lock-up periods that make staking with Margex attractive. This means that while your crypto is staked, you can still trade it, that too with 100x leverage, depending on the asset, which further amplifies your profitability. 

This free flow of staked funds is made possible by using those coins as collateral. With the help of its liquidity partners, Margex provides customers with zero-interest loans for trading, which is entirely an automated process happening at the backend.

Moreover, there are no limits on how much crypto you can stake or trade. 

Margex Supported Payment Methods? 

The platform’s ‘Buy Crypto’ option allows users to purchase digital assets through a wide range of payment methods. Margex claims to support over 150 payment methods, such as Mastercard, Visa, China UnionPay, SEPA, Apple Pay, GPay, and PayPal. Meanwhile, fiat currencies supported at Margex include USD, EUR, and GBP.

There are several ways to make deposits. The primary one is to deposit crypto directly into your Margex wallet. 

Another option to buy crypto is to deposit fiat using various payment methods via the widget of instant crypto exchanges, Changelly or ChangeNOW, on the Margex website. These third-party services allow the platform to provide fiat-to-crypto and crypto-to-fiat exchange services. Remember, when you choose this option, you are redirected to these sites where you need to be verified and enter your payment details to make the purchase. 

Margex Customer Support

Given that the world is still learning about crypto, which is a highly technical and niche market, you can always run into issues. Not to mention, when there is money involved, you want quick and professional help. 

At Margex, customer service is provided through its multilingual team, which you can contact by submitting a request via email. There’s also the option of live chat, which is available 24/7.

In addition, the exchange updates its community through social media channels, including X (previously Twitter), Telegram, Discord, Facebook, and YouTube. 

Margex also has an extensive Help Center that will help you find a solution to any platform-related problems. The exchange further educates its users and community through trading guides, video tutorials, and other informative content. 

Now, a rating of 3.8 on Trustpilot paints a satisfactory level of customer experience at Margex, which is higher than the rating achieved by crypto leaders such as Coinbase, which has only managed to get a 1.6 rating, the same as Bybit, while Binance has even a lower rating of 1.5. However, Margex’s rating is from less than 50 reviews, while others have thousands. 

Is Margex Legit?

While regulatory scrutiny surrounding crypto continues to rise, Margex has been growing as an unlicensed exchange. This puts the derivatives trading platform in a not-so-positive light, as a regulated exchange offers not just regulatory protection but also peace of mind. However, it’s notable that even licensed crypto exchanges have ended up rugging their users, with FTX being the prime example.

While lack of regulation is a significant issue with Margex, the platform doesn’t require users to get their identity verified or fulfill a KYC process because of this. Despite these concerns, the exchange has been gradually growing, recording hundreds of millions of dollars in daily trading volume and achieving half a million registered users.

As for security, the exchange uses 2FA, email confirmations for withdrawals, SSL encryption to secure data, email alerts, cold storage, real-time monitoring, an access segregation system, a DDOS protection system, and a price manipulation and fraud prevention system.

Our Review Methodology?

Committed to helping our readers make more informed decisions when exploring the crypto space through our reviews, we maintain the highest standards by evaluating the platforms and their various opportunities with an unbiased approach. Our team of professionals further provides up-to-date and actionable insights that you can trust to make the best move and have the ultimate experience. 

For crypto derivatives exchange reviews, we ensure that each platform is rigorously tested under real-world conditions to verify its reliability and performance. Our reviews are research-driven and continually updated, offering crypto traders the most accurate and up-to-date information, ensuring a seamless and informed trading experience.

The Bottom Line on Margex 

As shown in this Margex review, this centralized crypto exchange is ideal for trading derivatives with high leverage, up to 100x on majors and 25x-50x on most altcoins. In addition to demo trading, the copy trading feature is another great way for beginners to learn the ropes before entering the high-risk, high-reward environment of crypto trading. 

High APY on staked assets, which remain unlocked and available for trading, further makes it an attractive platform for enhancing profitability and improving crypto fortune. While the lack of regulatory stamp may make many apprehensive about using the exchange, the absence of KYC and 24/7 customer support work in its favor. 

So, if you’re looking to take advantage of crypto volatility, make sure to register with Margex today!

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