BitMex offers better pricing in terms of commission and fees when compared with other platforms for trading cryptocurrency. The best thing is, BitMex fee has nothing to do with leverage but with the quantity and on top of that BitMex doesn’t charge anything for using leverage.
Below are some more details about the BitMex pricing.
Market Order Fee
To open or close your trade, it can be an expensive option. This is also known as taker order, which is particularly suited if you wish to buy or sell out of hand. However, if you have some time on your hand and can wait and analyze go for limit order or marker order as the commission would be considerably lower.
Let us explain that with an example.
Bitcoin price is expected to go up and you make your move by buying 50,000 USDBXT at 10 BTC for 5,000 dollars. Your total investment would be 50,000 dollars and the fees would be 50,000 x 0.075% = 37.5. If you have a discount coupon it could be 33.75 dollars.
Limited Order Fee
When it comes to open or close trade, this is the most cost-friendly option. This is ideally suited for people or institution not looking to trade desperately and can wait for the best time. A limited order is also known as maker order. When setting limited offer, you’re not actually sure whether you will get an order at this price or not – so waiting is the name of the game here. Theoretically speaking, you may have to wait for years. Fees rebate is on offer but generally, you have to wait for a longer period of time until someone takes the limit order. It may sound a little tough trading under limited order but in reality, it is not. So, we advise our readers to use this option from time to time and collect money instead of paying.
Let us explain this with an example
You wish to sell certain amount of Bitcoin at a particular price and you limit this sell order to that price. Now, if you are lucky and the prices reach that level your order will be fulfilled. Other case involves a situation where prices begin to fall and now you will have to wait for the trade to be executed. Not an ideal situation, right? This is the reason why you will be paid for your patience. On completion of your offer, you will receive a $12.5 rebate from BitMex.