Margex is rapidly gaining recognition as a leading crypto trading platform, offering perpetual futures trading on 50 cryptocurrencies, including BTC, ETH, and popular meme coins like PEPE and FLOKI. With leverage up to 100x and a user-friendly interface, Margex caters to both beginners and seasoned traders. However, like any platform, it has its strengths and limitations.
Pros and Cons
Pros:
- Quick signup process (just seconds).
- Simple, intuitive interface focused on perpetual futures.
- Generous bonuses and competitive fees for limit orders.
Cons:
- Not available for U.S. traders.
- High withdrawal minimums make it better for larger trades.
What is Margex?
Margex, founded in 2019 and headquartered in Seychelles, specializes in perpetual futures trading, offering up to 100x leverage on top cryptos and a deep liquidity pool of $50 million. Unlike platforms like Binance, it does not support spot trading but focuses entirely on leveraged futures.
Key Features
Copy Trading: The “Smart Follow” feature allows users to replicate the trades of experienced managers in real time, with no upfront fees but a percentage of profits shared.
Leverage Trading: Supports leverage from 5x to 100x, with default leverage settings aimed at managing risk.
Staking: Offers 4–5% APY on BTC, ETH, and stablecoins, though details on staking mechanisms are limited.
Demo Account: The demo feature was unavailable during testing, but a $100 airdrop promo code allowed for risk-free trading.
Fees
Margex fees are competitive:
- Limit (maker) orders: 0.019%
- Market (taker) orders: 0.060%
- Funding fees, based on the ratio of long and short trades, are charged every 8 hours. Bonuses can help offset fees for new users.
- Mobile App
Margex’s mobile app mirrors the desktop experience, providing an intuitive interface and fast navigation. While it lacks some features of the desktop version, the app is convenient for trading on the go.
Payment Methods
Deposits can be made via crypto or third-party providers (e.g., Visa, Mastercard, and SEPA). Withdrawals are crypto-only, with no Margex fees beyond standard network charges.
Is Margex Safe?
Margex implements strong security measures, including cold wallets for withdrawals. However, the platform lacks formal regulation, which is common in the crypto industry.
Final Verdict
Margex stands out for its simplicity, low fees, and robust features for perpetual futures trading. While it has limitations—such as regional restrictions and withdrawal thresholds—it offers a solid experience for traders seeking leverage and a user-friendly platform.
MargeX just delisted XRP overnight, taking the profits of all the trades that its customers had open. In an email notification they advised that they would collect all of the profits earned on XRP trading all the way back to November 10th, while crediting back the fees incurred.
Not to mention, this platform is not supported in the US, however it will allow US citizens to create an account and even fund their MargeX account with their crypto. After so many withdraws they will then try to KYC you and block your account and take your money. They don’t even let you get your money back out.
This platform is promoted by US & Canadian influencers and just robbed thousands of people of their XRP gains.
XRP just had the biggest run in many years, everyone on MargeX stands to lose those profits. Here’s the email from MargeX directly
Dear User,
We are contacting you in regards to an important update related to the XRPUSD trading pair.
At Margex we aim to utilize the most advanced infrastructure and features that allow us to provide some of the most competitive and convenient trading conditions on the market. As part of this infrastructure, orders are passed through for execution at counter-parties that provide market liquidity for our platform as well as numerous other advantages, including but not limited to – tighter spreads, better entry/exit pricing and vast liquidity.
On December 4th, 2024, we have received a notice from our liquidity providers/counter-parties that due to extreme market volatility and surging demand for XRP, the auto-deleveraging mechanism for the XRPUSD trading pair did not function as intended. Following the liquidation of short positions, the corresponding long positions were not deleveraged, resulting in a counterparty incurring unprecedented negative balances, refusing to settle XRPUSD trades, and requiring us to clawback previously settled trades.
To prevent further disruption and potential cascading issues, trading for the XRPUSD pair was suspended to allow time to address the problem and ensure market integrity
Due to these developments, and in accordace with paragraph 4.16 and 7.8 of our Terms of Service XRPUSD will be delisted from the platform for the time being until further notice and the following actions will be taken in regards to all XRPUSD trades:
All currently open XRPUSD positions, as well as active limit and stop market orders will be cancelled. Any fees/funding incurred as well as the margin reserved for these trades will be fully refunded and returned to your wallet balance.
Any XRPUSD trades closed since 00:00 UTC on 10-NOV-2024 to the current date will be fully reverted – any PnL will be debited or credited to your Wallet balance accordingly. Trades liquidated during this time will also be fully refunded.
Copy Trading: Followers’ and Traders’ equity will be affected accordingly based on any reversed/refunded XRPUSD trades made within the corresponding Copy Trading Strategy
Once we are sure that the counter-parties are able to fully support and fill all incoming XRPUSD orders, we will reinstate the XRPUSD trading pair on Margex.
We appreciate your interest in Margex and apologize for any inconvenience caused.
Best regards,
Margex Team
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Margex are scammers, stay away
How can anyone be writing positive reviews on Margex after what they have been doing for the last month, they are obviously paying you, so much for an unbiased review, complete load of rubbish. No they are not safe, they keep your money
My experience with Margex has been extremely disappointing. The platform is withholding all my funds, refusing to allow withdrawals, even after I provided all the requested documentation for the verification process.
Weeks have passed, and now they don’t even respond to my emails. This lack of transparency and commitment to customers is unacceptable.
If Margex does not honor its commitments, I believe authorities like the FBI should step in. We cannot allow another FTX-like scandal to happen. Platforms like this must be held accountable to protect investors and ensure the integrity of the crypto market.
I hope Margex resolves my situation immediately and begins treating its customers with respect.
They dont stop you from trading with them if you are from restricted country. In fact, its their primary strategy for the scam. Unlike KUCOIN or MEXC. Those sites read your IP address when you connect or your phone # and tell you you cant use them. They stop you at the beginning. Margex DELIBERATELY lets you trade with them eventhough the KNOW where you are connecting from. Once you make a profit THEN they tell you, if youre from a restricted region, they are going to keep your money.
At leas sites like Kucoin and Mexc allow you to withdraw whatever you have left after stopping any positions.
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They took all my xrp Profit
Please take this article down…
Margex will not release funds..
It is a scam or bankrupt despite that it still sends out emails, is on FB & YT..
Margex STOLE 20,450 XRP coins + profits. Evil crooks. I curse them to the ground, all of the who work for Margex…they will suffer and go to hell if they don’t repent in Christ. They will suffer and pay 7 times all the damage and evil they have done…and not only them, but also to their loved ones, families, children, and children’s children. Hopefully then they will repent and give back what they have stolen…otherwise they will go to hell. Wicked ones. All of them from Margex. They won’t escape to the wrath of God. I will pursue them once I get funds. They will NOT ESCAPE.