Bitcoin Forum

Hello,
I've been trading on Bitmex and the interface and trade orders are so advanced compared to the other exchanges I've used It's in a different league. Very impressive.
However, It doesn't seem a feasible exchange to trade on as a result of getting slapped with fees if you do the equivalent of 'converting to fiat/tether' by shorting the market with your capital.
So you need to be actively trading with it or not have it on there.
I'd prefer an exchange that has the option to buy or sell BTC. So I can cash out to fiat in-between each trade.

The other exchanges I've used Binance + Pro.Coinbase ..... plus many that I've seen. Only have basic Buy and Sell options:
You have:
1.) Buy/sell Limit
2.) Buy/Sell Market  
3.) Buy/sell Stop-loss

But on Bitmex, in addition to the above you also have:
1,) The ability to place a stop-loss order for a position Before you place a buy order. - Which for playing a tight stop is essential...
2,) Take profit orders. So you can take profit off a position without having to temporarily remove it's stop-loss due to a clumsy trading-engine/programming.

The two things above that Bitmex has that the others don't are essential to me.
There is Bitfinex however.. That exchange looks great, it has an expanded selection of order types like Bitmex.
Although it require's you to have 10,000$ minimum initial deposit to open an account. Which I don't have.

Can you think of any alternatives that have the two abilities: - # placing a buy order with a pre-defined stop-loss...  and keeping a stop-loss with a pre-defined take profit?
Also being able to edit the value of a bid/ask or stop  - simply by editing the value, instead of having to delete it and then re-open it with new value was so much easier... and less risky.
Thanks. G

Have you checked out Deribit? I am not exactly sure if it has the two features you wanted but its a pretty popular exchange like Mex.

I haven't found one. Maybe there is but most of the bigger exchanges don't have it. Not with a stop loss and a predefined take profit at the same time. With all the negative shady things Bitmex has been known for, their user interface is EXCELLENT. I don't know how difficult it is to implement these features, but I don't think it could be that hard. Which is really a shame when it comes the other bigger crypto exchanges.

I don't find any other exchange that has same feature as BitMex.

Why not try to use some trading bot that have this feature?
Sample trading bot is this one https://bitcointalk.org/index.php?topic=1467939.0 this bot has stop loss feature in supported exchanges.

Or this one https://bitcointalk.org/index.php?topic=2128942.0

There is none according to my knowledge. But there are some exchanges (it's ICO project) which aims to build something similar to what you're trying to look for. It's called Bitozz, not sure how their progress so far though. I second the opinion to use a trading bot, it should help you to trade in other exchanges with more or less same experience when you trade in Bitmex.

If you think Bitmex is good to exchange, then why you need the other exchanges because I am not sure that the other exchange can give better services than Bitmex. But you can try to visit OKCoin because I already used that site before, but I do not feel good to stay in their sites.
In Bitmex, I think you don't have to complete KYC as the other exchanges, and you can start trading and use the leveraged to gain money in there.
Once I found that Bitmex can fill what I need, I never search for the other exchanges because I am not sure how good their services compare to Bitmex.

Since the one you mentioned is still in development stage, one need to be careful with some of these upcoming exchanges that promises heaven and earth, they end of disappoint or not meet up to the standard laid in their whitepaper and with the rates at which crypto currency is gaining so much popularity in the world now.

There are lots of unprecedented number of new crypto exchanges also coming into existence which some are coming up to rip people off their money no matter all the promises made.

Bitfinex allows FIAT, it is a very good and superior exchange, in fact, almost the most solid operations are carried out from there. It allows Bitmex to trade on the downside, not with so much leverage, and has a more modest arbitrage than bitmex.

I wouldn't use Bitmex, they are super sketchy and trade against their own customers.  Bitmex is basically just a giant casino and the odds are against you.

Yes currently only little bit exchange that provide feature which we can use for stop loss and sell limit in single potition. In margin or spot trading , this feature should be added to minimize the risk and maximum the potential profit. I looking for this feature in many different exchange , and i just found crypto exchange that have that feature is Gate.io, they provide spot and margin trading in 1 platform.

Well you're right, Bitmex has a somewhat different arbitration, although they adjust it, but generally you have to handle yourself carefully in Bitmex.

I used cryptopia earlier, but now I'm using changenow. It's supporting fiat (usd/eur) and a lot of currencies (tether is listed there too). It's quite safe and anonymous service

I haven’t found any other than the binance trading platform I have been using which I don’t think has ever disappointed me since they have the basic things I need for a successful trading and risk management.

I have heard of bitmex too and based on the things you laid down here, I think the exchange is worthy of trial but other than the 2 you listed aside bitmex, I don’t think there is any other existing exchange that has more trading facilities than them.

Yes, because cryptopia cannot be accessed anymore and they still investigate their problem. I don't think that there is any good exchange as Bitmex, but I don't know because I used Bitmex for leverage trading although I don't always make a good profit. So far, I use Binance and Bittrex to trade, and it's not like Bitmex, and we could only trade as usual, but it's enough for me to search for profit.

I use Coinswitch.co to buy coins from fiat. One feature you will find similar to Bitmex that is they do not ask for KYC. Sharing the link check whether it reaches your needs or not. It fills all of my needs.
https://coinswitch.co/coins/tether/buy-tether-worldwide

I also used Binance and Bittrex, but Bittrex blocked my account for several weeks without explaining the reason. I stopped using them and do not trust Binance. You should not keep a lot of money in your account, you can lose it once. I also use ChangeNOW as an exchange without registration, without risking my funds.

I shouldn't share it but. Soon we will have quite good conditions for fiat as well.

The last time on Binance a lot of exchanges are stopped on "awaiting approval" and it's very annoying. I'm planning to move fully on changenow

indeed Bitmex is one of the exchangers that provides exchanges against USD. it's very safe, I've experienced it. so far I have not found a Bitmex type exchanger.

yeah your friend is right, I admit the Bitmex exchange is the best exchange but if the trading volume is still lacking compared to the binary exchange, but I think as time goes on it looks like there will be new exchanges with the same advantages as Bitmex, do you believe?

In my opinion, other exchange are not that good compared to Bitmex, it is relatively advanced. You can definitely try Deribit it is a very good exchange with some good features.

Have you check out Catex.io ? It is an exchange wherein there's a lot of advantages and the thing that I most liked here is there is no transaction fee, and the money that you should have spend on transaction fee would be turned into a CATT token (Token in their exchange).

If you have not reached another person's farm, you will think it is yours that is the biggest, are you kidding me? Bitmex where Binance is, i wouldnt say much, try binance, do your comparison and give me a feedback. :P