Crypto Venture News One stop Crypto Track Down 
Margex is a digital currency derivatives trading platform that offers up to 100X leverage. This exchange was launched in 2020 and is quickly establishing itself as a trusted operator performing everything in its power to provide a professional trading scenario that is still convenient enough even for beginners. In this article, we are going to have a look at the Margex exchange review.
Margex Exchange Review: Key Features
In this Margex exchange review we will see is Margex legit. As stated above, this is a cryptocurrency derivatives trading channel that implies they only provide derivatives that are underlying digital assets and they are not themselves assets. Some of the most highlighted dimensions include:
Up to 100X leverage
For traders who are accustomed to the way around a market, this provides the chance to potentially raise their profits a hundredfold. However, in the scenarios when the trade goes awry, it can also put you in a loss of up to a hundred times the primary amount.
Referral program
While most channels that provide such a program to their users have tiered rewards and needs, Margex offers you a flat 40 percent of all trading commissions that have been made by the people who were stated here by you with the Margex referral code. While commissions on trading are not very high to start with, it can still be a good source of passive income, and you receive it without actually working for it.
Proprietary software against price manipulations
Users can be rest assured that no illegal liquidations nor price manipulations are taking place at Margex, implying they are not getting cheated out of their profits.
High levels of security
100 percent of their funds are kept in cold wallets, and many platforms keep 98 percent or 99 percent of their funds secure, but not needfully all of them, which implies withdrawals are only processed once every day. Along with that, the platform has various levels of security that are audited on a regular basis.
Limited offer of trading pairs
There are only 6 trading pairs, which may be thought a disadvantage by many, but this is because the channel chooses for assets that have high liquidity and are not related to price manipulations. This also allows the users to trade with assets they are already aware of and trust.
No KYC procedures
Not only are these stages tedious, but they are also very inclusive. Margex does not need you to disclose your personal data when creating an account for Margex login, only offering an email address and depositing to the exchange is enough.
Margex Exchange Fees Overview
In comparison to most of the crypto exchanges, fees on Margex are comparatively low: the maker charges will set you back by 0.019% for every trade, while taker fees are 0.06%. The main difference between all the trading pairs, when it is about the fees, arises in the form of funding rates where every fee, which ranges from 0.012% to 0.110%, is levied every eight hours. The funding fees are levied on every opened long and short position as per the following table. If we do not state this then this Margex exchange review would remain incomplete.
Pair | Funding/Long | Funding/Short |
BTC/USD | 0.035% | 0.012% |
ETH/USD | 0.078% | 0.080% |
EOS/USD | 0.033% | 0.035% |
LTC/USD | 0.100% | 0.110% |
XRP/USD | 0.070% | 0.075% |
YFI/USD | 0.038% | 0.040% |
Of course, if the post is closed prior to the funding cut-off time, then it will not be levied a funding fee at all.
Margex Exchange Review: Security
When we are talking about the Margex exchange review, security is a very crucial thing. As the initial line of defense, Margex provides a unique M&P Shield system that is based on AI and that they generated themselves, which caters to protect against unfair liquidations and price manipulations. As for price fluctuations that are beyond their scope, Margex dodges this issue by simply not listing assets that offer low liquidity or that are highly affected by manipulations. The platform itself comprises various security layers that are independently audited regularly. All withdrawals are processed only once every day by their treasury department.
Margex crypto exchange keeps 100 percent of its funds in a multisig cold wallet. They also have real-time tracking and alerts for all asset shifts, along with an access segregation protocol in case of any in-house malicious actions. There is also no issue that the system will not be able to take care of an increase in activity because of an elastic server infrastructure that is created for this very possibility.
Margex Exchange Review: Deposit And Withdrawal Methods
Direct withdrawals and offers at Margex are available only with BTC (Bitcoin). Users can also deposit their money using a credit card via the third-party provider Changelly. While depositing, users can either copy the address of the BTC into the wallet that they are depositing from or scan the QR code that is included. BTC deposits need only one block confirmation, which makes it a little quicker than most other crypto exchanges.
As far as the withdrawals are concerned, this is also possible only with Bitcoin. You will be required to offer your 2FA code, your withdrawal address, and the amount that you are withdrawing. As all withdrawals are processed once every day for security purposes, at 13 UTC, it may take a little time until the funds are in your wallet.
Verdict
After this Mergex exchange review it can be concluded that this is an excellent option for a digital currency derivatives trading platform with good leverage, mainly for traders that are privacy-oriented, chooses low fees and offers tried-and-true trading pairs. In addition to their high security standards, referral program, and a very intuitive UI, both beginners and veterans in the derivatives trading space are likely to find their forever home in this exchange.
- Souls Of Meta ICO: Grab Your Stake Before It’s Late! - 03/08/2024
- Hurray! Its A Green Day For The Crypto Market - 03/08/2024
- Public.com Review: A Comprehensive Guide to the Crypto Exchange - 03/08/2024
