We created an in-depth Margex review to help traders learn how this CEX differs from its peers. Our main focus will be on its features and services. However, we’ll also discuss its fees and rates, main pros and cons, payment methods, and availability. You’ll also learn how to create an account on Margex and why investors prefer this CEX.
With that in mind, here’s all you need to know about Margex and its services.
Margex — Short Overview
What Is Margex?
Margex is a centralized crypto exchange that launched in 2019. This CEX has more than 500k registered users and conducts 180k+ daily trades. Margex is also one of the best staking platforms for beginners. Its users can stake 35 cryptocurrencies for an APY that goes up to 5%. However, what makes this CEX stand out from the crowd are its perpetual futures, which come with up to 100x leverage.
In addition to that, Margex supports 40+ trading pairs and multicollateral wallets. This CEX aggregates liquidity from 12+ providers, which enables it to provide the best prices.
Margex Pros and Cons
Pros Cons
Margex is currently one of the best crypto exchanges, tailored for both beginners and advanced traders. As mentioned above, this exchange specializes in perpetual futures. Its users can trade crypto derivatives for leverage up to 100x. Traders can also use its live demo feature without signing up.
Newcomers will find a lot of educational material and video tutorials that will help them learn how to trade cryptocurrency. They’ll also get to use its copy trading tool.
On the downside, Margex doesn’t cover spot trading. Moreover, this platform is unregulated, although it uses rigid security protocols, and its services are not available in the US.
Margex Fees and Rates
The next section in our Margex reviews will cover its fees. That said, Margex imposes two types of fees — maker and taker, which are fixed at 0.019% and 0.060%, respectively. The former refers to placing limit orders, while the latter refers to placing market orders. Compared to other crypto exchanges, Margex’s fees are higher.
On the other hand, this platform doesn’t charge conversion fees. Moreover, its users won’t have to pay fees for replicating trades through its copy trading feature.
All crypto deposits come with zero fees, regardless of the network used, and the minimum deposit requirement is $10. When it comes to withdrawals, users will only have to cover network fees.
Funding fees will be charged every 8 hours – at 00:00, at 08:00, and at 16:00. These fees apply to open positions only. If the position is closed before the next funding rollover, the fee won’t be charged.
That said, Margex doesn’t charge fees for inactive accounts, which makes it ideal for occasional traders.
|
Type of Fee |
Amount |
|
Taker Fee (Market Orders) |
0.060% |
| Maker Fee (Limit Orders) |
0.019% |
Margex Crypto Exchange’s Main Features and Services
The key Margex trading services and features include the following:
Perpetual Futures
As mentioned above, the feature that makes this exchange stand out is its perpetual futures. On that note, Margex supports 36 perpetual futures, including BTC, ETH, and SOL. Traders can open both short and long positions. The leverage for most trading pairs ranges from 5x to 100x. When it comes to order types, Margex supports the market, limits, stop loss, and take profit orders.
Copy Trading
Copy trading is a useful feature for beginners as it allows them to copy the strategies of experienced traders. This feature is free to use, while the revenue will be divided between traders who use it, copied traders, and Margex. Each cryptocurrency will have a minimum deposit requirement. For example, for BTC and ETH, the minimum deposit will be 0.0004 BTC and 0.006 ETH, respectively.
Users will also be able to use its demo account to practice their trading skills with virtual funds. However, Margex doesn’t offer trading bots.
Staking
Traders will be able to stake their coins for an APY of up to 5%. Margex doesn’t impose lock-up periods, so users will be able to use their staked coins to trade crypto with up to 100x leverage.
Supported Wallets
Margex supports multicollateral wallets. This means that they’ll be able to deposit any cryptocurrency and use it as collateral for their position. Likewise, they won’t have to own the underlying assets when trading pairs.
Supported Cryptocurrencies
This CEX supports 200+ cryptocurrencies and more than 40 trading pairs. On that note, traders will be able to buy/sell popular digital coins, like BTC and ETH, DeFi coins, like JUP and OP, and stablecoins.
User Experience
As already mentioned in our Margex exchange review, this platform is suitable for both beginners and professional traders. Its trading terminal is intuitive, and it comprises three customizable sections:
Margex Availability
Countries
Margex is not available in the following regions:
Devices
Margex has two different mobile apps, one for traders and one for followers. The Leverage Trading app is intended for perpetual futures trading, while the Copy Trading app is intended for copy trading.
As mentioned in our Margex copy trading review, the Copy Trading app is suitable for beginners. It’s designed to help them make a profit by copying the strategies of professional traders.
On the other hand, the Leverage Trading app is tailored for professionals who want to trade their digital coins with up to 100x leverage.
Both apps are compatible with iOS and Android devices. They have an intuitive design, and they can handle high traffic volumes. Margex uses a special trading engine that enables lightning-fast order executions. So, if you’re looking for the best crypto apps to maximize your investments, Margex should be on your go-to list.
Payment Methods
Margex supports 152+ payment options, including credit cards, GPay, SEPA, and PayPal. The minimum deposit amount is $10. Traders can make a deposit in two ways: by linking their crypto wallet to their Margex account and by converting fiat into crypto.
To create an account on Margex, you’ll have to do the following:
Margex Signing Up Process
Margex Customer Service
The next section in our Margex review will be dedicated to customer service. There are two official ways to contact customer support: via email and 24/7 live chat. However, traders can also contact them through their social media channels: Telegram, Facebook, Discord, YouTube, and Twitter. Likewise, this platform has a special section called the Help Center. This section contains in-depth information about its services, conditions, and fees.
The live chat option is available in multiple languages. You won’t have to create an account to use this option. Once you tap the live chat icon, you’ll be able to select a topic that interests you. Once you click on the topic of your interest, Margex’s chatbot will generate a comprehensive answer. You'll also be able to talk with the support agents who respond to inquiries within 10 minutes.
Is It Safe to Use Margex?
Margex utilizes strict security measures, such as two-factor authentication, a DDOS protection system, and trading anti-denial service protection. It also uses SSL encryption, email notifications/alerts, and data encryption accounts. Moreover, all assets are kept in a multi-signature cold wallet. The prices are monitored by their MP Shield system, which protects against price manipulation.
In addition, Margex uses a price-squeezing protection system that executes orders at their price level. At the same time, its liquidity aggregation mechanism enables traders to get the best prices. In short, this centralized exchange is safe to use because it utilizes AI to prevent fake trades. Its biggest downsides are the lack of regulation and KYC and AML procedures.
Why Choose Margex
Traders prefer Margex over other exchanges for many reasons. First, this platform offers high leverage limits of up to 100x. It supports 200+ digital assets, 40+ trading pairs, and 152+ payment options. Deposits and withdrawals have zero fees, while the minimum deposit requirement is $10.
Secondly, Margex supports 36 perpetual futures with fixed maker and taker fees. Users can open both long and short positions. They can also stake their coins for an APY of up to 5%. Plus, they can use their staked tokens to trade crypto with up to 100x leverage.
And finally, beginners will be able to benefit from its copy trading and live demo feature. However, what makes this platform the number one choice for traders on the go are its dedicated mobile apps. Both apps are compatible with Android and iOS devices; one is created for traders, and the other for followers.
Conclusion
We created this Margex review to explain its main features and to see how it compares with other CEXs. We also discussed its main pros and cons to help you make an informed decision.
With that in mind, this platform is designed for experienced and beginner traders. The former can trade perpetual futures with up to 100x leverage, while the latter can use its live demo and copy trading features to practice their skills.
What are the main disadvantages of this platform? It doesn't support spot trading, and it's not available in the US.