Comparison of Bitmex vs Orbix [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bitmex vs Orbix comparison!

Your expert: Alejandro Borja

bitmex

Bitmex

Your expert: Xavier Tarrasó

orbix

Orbix

Main points

Fees

≤0,10%

Earns

Yes

Customer service

3/5

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.2 – Competitive fees with a focus on leveraged trading.
4.0 – Competitive fees with additional benefits for high-volume trading.

Level

≤0,10%

Brief explanation

BitMEX’s commission structure is geared towards facilitating a dynamic trading environment, particularly favorable for traders who engage in high-volume trading. The platform primarily charges a trading fee based on the maker-taker model, where makers, who add liquidity to the market by placing limit orders, generally pay a lower fee compared to takers, who remove liquidity by executing against existing orders. The fees on BitMEX vary depending on the product being traded but are typically in the range of 0.025% to 0.075% for makers, which can actually go negative, effectively rewarding makers for adding liquidity. Takers, on the other hand, face fees from 0.075% to 0.25%. This competitive fee structure is particularly advantageous for frequent traders who can benefit from lower costs as their trading volume increases. Moreover, BitMEX does not charge fees for deposits or withdrawals, though standard blockchain network fees apply when withdrawing cryptocurrency. This aspect of the fee structure makes it straightforward and cost-effective for users to manage their funds, aligning with BitMEX’s user-centric approach to crypto trading.
Orbix maintains a competitive but variable commission structure that aligns with industry standards, aiming to cater to both novice and experienced traders. Trading and transaction fees are designed to be cost-effective, although not the lowest when compared to other major players in the market. The fees vary depending on the type of transaction, whether it involves fiat-to-crypto or crypto-to-crypto trades. For direct fiat transactions, users may face additional costs, especially when using credit or debit cards, which are subject to higher fees due to processing charges. Orbix’s commitment to transparency ensures that all fee structures are clearly communicated on their website, allowing traders to make informed financial decisions before executing trades.

Bitmex

Orbix

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Product selection

Native token

No
No

Earns

Yes
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

HDR Global Trading Limited
Unknown

Regulation

Not regulated, enfrentó acciones legales en los EE. UU.
Not regulated

Year founded

2014
Unknown

Founder

Arthur Hayes, Ben Delo, Samuel Reed
Unknown

Payment methods

Transfers

No
No

Mastercard

No
No

Wire transfer

No
No

Card

No
No

Comparative table

Bitmex FEATURES Orbix
BitMEX allows for relatively small minimum trade sizes, making it accessible for traders who prefer to start with smaller amounts.
Minimum Trade
Orbix allows for relatively low minimum trade amounts, making it accessible for beginners.
BitMEX offers competitive fees, especially for high-volume traders, but can be slightly on the higher side for low-volume or casual traders.
Trading and Transaction Fees
Fees are competitive, but could be improved to match lower fee structures offered by other exchanges.
While BitMEX supports major cryptocurrencies, its focus is more on derivatives and futures rather than providing a wide array of crypto assets.
Number of Cryptocurrencies
Offers a moderate variety of cryptocurrencies, suitable for most traders but less than larger exchanges.
BitMEX provides a solid selection of trading pairs for major cryptocurrencies, especially in derivatives markets.
Crypto-to-Crypto Trading Pairs
Orbix provides a decent selection of crypto-to-crypto pairs, though not as extensive as some competitors.
The platform is quite transparent about its terms, fees, and trading options, though some users may find the information overwhelming.
Website Transparency
The website is clear and informative about fees, policies, and trading options, enhancing user trust.
BitMEX lacks a debit or credit card feature for spending or earning rewards, limiting its utility for everyday transactions compared to other exchanges that offer such cards.
Credit/Debit Card
Orbix does not currently offer its own exchange card for customers to use for in-store purchases or to receive benefits.
BitMEX provides secure storage options, but as a derivatives exchange, it does not emphasize wallet services like other exchanges.
Storage Offering
Provides secure storage options with advanced security measures to protect user assets.
Limited options for staking or earning rewards, as BitMEX is primarily a trading platform for derivatives.
Staking and Rewards
Offers competitive staking options and rewards, encouraging longer-term investment on the platform.
Both mobile and desktop platforms are robust and well-designed, offering high functionality for trading on the go or at a workstation.
Mobile App and Desktop
Both mobile and desktop platforms are highly user-friendly, offering full functionality with ease.
Customer service is adequate, with support channels available, but response times and resolution effectiveness can vary.
Customer Service
Customer support is available but response times can be slow; an area that needs improvement.
BitMEX supports efficient mechanisms for deposit and withdrawal, though primarily limited to cryptocurrency movements.
Deposit and Withdraw
Deposits and withdrawals are handled efficiently, though improvements could be made in fee structure.

Key features

Analysis tools

High-level technical analysis tools, derivatives trading features
Unknown

Mobile APP

No
No

Security

High 4,9/5
High 4,5/5

Additional features

High leverage trading, futures contracts, perpetual contracts, BitMEX Academy
Margin trading, futures trading, staking, Orbix Earn

Anonymity

No
Yes

Key points

Available cryptocurrencies

Primarily derivatives, few direct cryptocurrencies
Limited, primarily derivatives

User-friendliness

BitMEX, while offering advanced trading features, has a relatively user-friendly interface. However, it may be more suited to those with some experience in trading due to its focus on leveraged trading.
Orbix offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

Value for money

Delivers reasonable value for money with competitive fees and advanced trading features, though its focus on leveraged trading may not suit all users.
Provides decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany
United States, Canada, United Kingdom, Australia, Singapore

Best for

Ideal for experienced traders interested in leveraged trading and advanced trading features.
Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

BTC, USDT (for derivative products)
Not widely known

Account

Trading

BitMEX is renowned for its derivatives trading and leverage options, making it ideal for experienced traders. However, it is not suitable for beginners due to its complexity and high-risk trading environment.
Orbix provides a secure and user-friendly platform with a good selection of cryptocurrencies. It offers competitive fees but lacks some advanced trading features.

Deposit and withdrawal

BitMEX focuses on cryptocurrency deposits and withdrawals, with no support for fiat currencies. Withdrawals are processed daily, and fees are minimal, but users must manage the timing of their requests.
Orbix supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

Account opening process

BitMEX has a straightforward account registration process, requiring personal information and identity verification. The process is quick and fully digital, making it easy for users to start trading within a short period.
Orbix provides a straightforward and fully digital account registration process. Users need to submit personal details and verify their identity. The process is quick and usually takes less than a day to complete.

KYC required?

Yes
No

Customer Service

BitMEX offers customer support through email and live chat. The support team is knowledgeable and responsive, but the absence of phone support and limited availability can be a disadvantage.
Orbix provides support through email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

Security

BitMEX ensures security with 2FA, encryption, and cold storage. It is not regulated by top-tier financial authorities, which might be a concern for some users regarding the safety of their funds.
Orbix employs robust security features, including 2FA and encryption. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

As an expert reviewing cryptocurrency exchanges, I find BitMEX to be a compelling option for experienced traders who are looking for high leverage and sophisticated trading options. However, due to its complexity and the high risk associated with its leverage capabilities, I recommend it primarily for seasoned traders. New users should approach with caution and consider starting with smaller trades until they become more familiar with the platform’s functionalities.
As a Threenvest expert, I find Orbix to be a reliable choice for those entering the cryptocurrency trading space or looking to diversify their trading strategies. While it offers robust security features and an intuitive interface, I recommend potential users to consider the limitations in terms of cryptocurrency variety and geographical availability. For those able to access and utilize its services, Orbix could indeed be a valuable addition to your trading toolkit.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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