Margex Exchange Review: Is It a Safe Exchange?
Margex is a next-gen Bitcoin-based derivatives trading platform, where you can trade with up to 100x leverage on all available pairs such as Bitcoin, Ethereum, Yearn.finance, and more against the USD. Margex introduces a custom-built exchange made from the ground up in order to provide the ultimate trading experience. Accompanied by a user-friendly interface, the platform succeeds in providing a lightning-fast trading engine, huge liquidity, and a tamper-proof system.
Compared to all of the other derivatives trading platforms and the problems they suffer from, such as freezes and market manipulators, there is clearly a need for a higher quality trading platform to emerge in the market. Margex seems to have the potential to be one of them, as it offers a customized trading engine that can process up to 100,000 transactions per second.
What Is Margex Offering?
- Fast order execution
- No overloads
- Competitive fees
- Adjustable leverage up to 100x
- Easy to use interface
- All in one trading environment
- Segregated Liquidity from 12 providers
- Price Manipulation protection, protecting users from unfair liquidations
- No KYC
The registration on Margex takes no more than a minute. All you need to do is input your email, confirm that you are not a resident of certain countries, and click register. After that, you can deposit and start trading right away.
Deposits and Withdrawals
The available deposit methods on Margex at the moment are Bitcoin or Credit and Debit cards and other cryptocurrencies provided by Changelly. Withdrawals are processed in Bitcoin, manually, by a treasury team divided by segregation of duties and multi-signature cold wallets in order to eliminate the risk of hackers and exploiters.
Trading on Margex
Trading on Margex is designed to be simple, as the platform offers one of the cleanest standard layouts in the industry for trading with leverage.
The left side is reserved for the order tab where you adjust the details of your position such as – quantity, limit price, and leverage. In the trade section you can see details such as deal ID, date, type, asset, quantity, margin, stop loss, take profit, and more.
The chart resides in the middle powered by TradingView with a full suite of trading indicators. The order book and last trades are situated on the right where you can check the depth of a market.
Setting up Stop Loss and Take Profit
Setting stop loss and take profit is fairly easy, click on the numbers that are set for stop loss and take profit and a window will pop up where you will need to input the desired price level. Although, it may be confusing the first time as there are no clear indicators that this is a button.
Closing a Position or an Order
Closing positions is done by clicking on the Close button on the left side. You can either “Close Market” or “Close Limit”.
The client accounts on Margex are protected by 2FA Authentication, Email confirmations, SSL encryption, email notification and alerts. Margex stores 100% of user funds in Cold Storage to maximize the level of security of the funds. This system is accompanied by Real-time monitoring for every asset movement done on the platform.
Margex has an elastic server infrastructure that provides the ability to scale on-demand with the trading engine capable of handling up to 100 000 trx/s. This assures that the platform will keep having instant order execution even in moments of very high trading activity and volatility.
Price Manipulation and Fraud Prevention
Margex has integrated a custom-built real-time AI-based system that monitors for suspicious trading activities and the consistency of the price feed. There is also a liquidity pooling system that pulls liquidity from several liquidity providers thanks to which Margex aims to ensure the best entry and exit prices for its users.
On top of everything, Margex applies a price squeezing protection system in order to execute orders at the expected price level.
The platform has a 24/7 live support, which will answer any questions within minutes.
The trading fees on Margex are on the lower spectrum when compared to the majority of trading platforms. The taker fee is 0.060% and the Maker fee is 0.019%. There is a funding fee which is the norm for all of the leverage trading platforms.
Margex is one of the easiest to use trading platforms out of the many in the crypto industry. This is the platform where you can literally register and start trading in a few minutes without wasting time.