OKEX vs Bitmex

[Golstrim]

Guys, I switched from trading on Bitmex to Okex.
I know that most of you use bitmex as the only crypto exchange for margin trading, but I prefer Okex. To be honest I've been trading futures on Okex even before I got registered on Bitmex.

Advantages:
-there aren't overloads,
-there are more trading pairs,
-smaller fees (on Bitmex fees are incredible, especially on withdrawal and if you have small balance , withdrawal fee is getting major part of your deposit)
-on Okex you can withdraw funds immediately unlike bitmex (once a day)
-UI and number of chart analysis instruments on Okex is more attractive for me
-price tick is smaller on Okex 0.1$ vs 0.5$ for bitcoin. Sometimes I think that price on bitmex isn't moving.
- mobile application. I have access to trading terminal 24/7 with mobile app on Okex
- sms notifications when you margin maintenance is in the risk zone. It prevents liquidation, they take care about your risks.

I NEVER experienced freeze at the moment of fast movement. This is the most important thing. What is more I think that Bitmex is hunting on stop losses of huge whales, so Okex is a diversification for you and the way to avoid being a victim of liquidation wave (spikes are stronger on bitmex)

Disadvantages:
Regarding their product.
They have introduced perpetual swaps recently, product is a bit raw, because there aren't stop losses, but I had a talk with support and they promised to deliver this feature asap. So I think after adding stop losses they can compete with bitmex. Personally I don't care about it, because I use futures due to absence of  funding rate and I don't want to pay extra fee daily for borrowing assets.

If you have any questions about derivatives or Okex features, I am ready to help.

So what do you think?

[mod note: removed referral link spam]

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[BitHodler]

They have introduced perpetual swaps recently, product is a bit raw, because there aren't stop losses, but I had a talk with support and they promised to deliver this feature asap. So I think after adding stop losses they can compete with bitmex. Personally I don't care about it, because I use futures due to absence of  funding rate and I don't want to pay extra fee daily for borrowing assets.

Not having a stop loss feature sounds a bit odd because every platform offering a similar product that I know of allows you to set a stop loss. It's an important enough basic feature that a lot people happily use.

Then there are the fake spot volumes OKEx has been generating for quite a while now. For such a large exchange it's quite embarrassing to see a report expose them as the 4th most fake volume generating exchange.

-smaller fees (on Bitmex fees are incredible, especially on withdrawal and if you have small balance , withdrawal fee is getting major part of your deposit)

BitMEX itself doesn't charge a fee for withdrawals. The only fee you have to pay is a dynamic network fee, which means that during low network congestion the fee is low and during high network congestion the fee is higher.

[Buntel168]

I have been using Okex for a long time, and i can say Okex is the best exchange platform after Binance. Deposit, withdrawal it's realy fast and the fee very cheap.

[Slow death]

I have been using Okex for a long time, and i can say Okex is the best exchange platform after Binance. Deposit, withdrawal it's realy fast and the fee very cheap.

I think at this point it all summarize to this:

OKEx:

OKEx Skips Warren Buffett Lunch, doa US $ 4,5 milhões para o Insurance Fund

BitMEX:

BitMEX Traders Withdraw $125M As CFTC Looms Closer

Exchanges Like BitMEX Are a Recipe For Disaster

and today:

How traders flouted BitMEX’s US trading ban

things are not good for bitmex

[^BuTcH^]

I trade on both exchanges and from my point of view Bitmex has more liquidity, but regards other advantages Okex is good competitor.
I don't know why major part of traders choose Bitmex, probably there is better marketing

[cryptothreads]

I trade on both exchanges and from my point of view Bitmex has more liquidity, but regards other advantages Okex is good competitor.
I don't know why major part of traders choose Bitmex, probably there is better marketing

Bitmex has very few coins for people to trade because most of the coins listed at Bitmex are top pennies and have a huge trading volume. I think Okex is still better because this is a exchange with lots of other coins for you to choose and the liquidity at this exchange is very good so I will choose Okex instead of Bitmex exchange because I like to invest to hold keep long term

[Akim2710]

I started a small trade at ok because it still has its advantages, the withdrawal fee is cheaper and the customer service is fast responsive 24 hours, so don't hesitate to try it

[stomachgrowls]

I havent tried OKEX honestly so i cant make a comparison based on experience but i already used up Bitmex. Here i do found some good article between these two;
https://coinidol.com/okex-vs-bitmex-comparing-largest-crypto-derivatives-exchanges/

Im not affiliated by CI but i do love the comparison among the two.

[novaprime]

I havent tried OKEX honestly so i cant make a comparison based on experience but i already used up Bitmex. Here i do found some good article between these two;
https://coinidol.com/okex-vs-bitmex-comparing-largest-crypto-derivatives-exchanges/

Im not affiliated by CI but i do love the comparison among the two.

Both exchanges are top exchanges and each exchange has its own advantages so it is not necessary to choose which exchange to participate in as both have very good liquidity. I personally use Bitmex and Okex because it's much better than other exchanges. If trading I will choose Okex because there are so many altcoin for me to make a profit, and Bitmex I will join the margin because I can earn double profit in a short time

[redsun114]

I am not sure that bitmex is still the only cryptoexchange that are into margin trade, Binance too has also started its margin trade too, although I have never used it, but you already know that Binance has been successful in many projects that it has established and I believe that this particular one too is not going to be exceptional.

I have head of OKEX mentioned several times, but I felt that they were just being shilled, but now that I have started seeing it mentioned several times, I think they might be ok too, those features that you mentioned here about them are really nice, and if it is through of everything you said here, I will really encourage new users to try them out, but for my trade, I think I am still kind of cool with Binance for now, I have been enjoying most of the features you mentioned here in them too.

[Golstrim]

I havent tried OKEX honestly so i cant make a comparison based on experience but i already used up Bitmex. Here i do found some good article between these two;
https://coinidol.com/okex-vs-bitmex-comparing-largest-crypto-derivatives-exchanges/

Im not affiliated by CI but i do love the comparison among the two.

Good article, although it was published almost a year ago, but I agree with most of points. Since that time Okex level up with margin trading and implemented swap trading.
Do you trade with margin?

[crairezx20]

Never trade yet with Bitmex but I'm fine with Okex trading there with a small amount because most of the coins that I have is always HODL.
Let me ask if you still trading in BitMex without a trading/exchange fee?

[leowonderful]

I am not sure that bitmex is still the only cryptoexchange that are into margin trade, Binance too has also started its margin trade too, although I have never used it, but you already know that Binance has been successful in many projects that it has established and I believe that this particular one too is not going to be exceptional.

There are other sites that are often mentioned for leveraged crypto trading like Deribit and Bybit as well, though the latter is essentially a copy of Bitmex with a slightly different UI but otherwise the same thing. Deribit's been around for a while and though there's less volume and liquidity and the UI's pretty different from Bitmex's, the site should be legit and it doesn't overload as well. Been using Deribit with very little problems recently.

As for OKEX, I might check it out when and if they implement stoplosses, as they're an important component of my trading strategy. Otherwise I'll just stick to what I'm using now.

[Golstrim]

There are other sites that are often mentioned for leveraged crypto trading like Deribit and Bybit as well, though the latter is essentially a copy of Bitmex with a slightly different UI but otherwise the same thing. Deribit's been around for a while and though there's less volume and liquidity and the UI's pretty different from Bitmex's, the site should be legit and it doesn't overload as well. Been using Deribit with very little problems recently.

As for OKEX, I might check it out when and if they implement stoplosses, as they're an important component of my trading strategy. Otherwise I'll just stick to what I'm using now.

I am going to test deribit as well, but speaking about deribit I am more interested in options than futures.
As far as I know deribit is the only exchange where you can trade options and I will try just for experience.

What about Bybit? is it worth seeing?

[LGame]

I didn't know BitMax until now. While, I use coinable and Huobi, although heard about okex, while not used yet.

[johanesrobin]

Both are popular and trusted exchanges, it's hard to find a comparison between the two.
although some cases attack both.
So far I have never tried both, I am more comfortable with binance.

[leowonderful]

I am going to test deribit as well, but speaking about deribit I am more interested in options than futures.
As far as I know deribit is the only exchange where you can trade options and I will try just for experience.

What about Bybit? is it worth seeing?

Eh, Bybit's basically the same thing as Bitmex but with a slightly different UI (worse than Bitmex's IMO and no trollbox if that's your thing) as I mentioned, haven't seen an overload on the site yet in the few months that I've been trading on it though, and the books are pretty decent at all times. They also don't seem to block US IPs from trading (on one right now), but if what you're looking for is a Bitmex clone with the same fees and nearly same other features, then this is it.

Bybit also doesn't have futures. Only perps from what I can see now.

[joniboini]

You guys might want to consider more alternatives for your margin trading. Arthur is rumored to be AWOL amidst CFTC probe.[1]
Who knows what will happen, hopefully, it won't turn into another Quadriga saga. I don't believe in OKEX either.

[1] https://bitcoinist.com/bitmex-ceo-arthur-hayes-goes-awol-amidst-cftc-probe/

[Golstrim]

You guys might want to consider more alternatives for your margin trading. Arthur is rumored to be AWOL amidst CFTC probe.[1]
Who knows what will happen, hopefully, it won't turn into another Quadriga saga. I don't believe in OKEX either.

[1] https://bitcoinist.com/bitmex-ceo-arthur-hayes-goes-awol-amidst-cftc-probe/

There aren't so much opportunities for margin trading from what I know besides Okex, Bitmex, Deribit and Bybit . Binance has launched margin trading, but that isn't product which I desire to use.
They have small leverage, no futures, no perpetual swaps, higher fees.

[barbara44]

I havent tried OKEX honestly so i cant make a comparison based on experience but i already used up Bitmex. Here i do found some good article between these two;
https://coinidol.com/okex-vs-bitmex-comparing-largest-crypto-derivatives-exchanges/

Im not affiliated by CI but i do love the comparison among the two.

Both exchanges are top exchanges and each exchange has its own advantages so it is not necessary to choose which exchange to participate in as both have very good liquidity. I personally use Bitmex and Okex because it's much better than other exchanges. If trading I will choose Okex because there are so many altcoin for me to make a profit, and Bitmex I will join the margin because I can earn double profit in a short time

Most of these exchange run in virtually the same way and I think if one is to judge which one is better is either fee or their customer care response to their users, most platform they have for trading are same, and you also trade the same way, that is why it is easy for anyone to easily migrate from one exchange to another and use the platform interface easily, it is just like an android phone, no matter the name of the phone, provided they run on android, they still have similar features in terms of software’s, which is why it becomes easy for anyone to quickly switch phones, so there is absolutely no point having to compare exchanges that are good. The only thing we can do from time to time is to make list for people that will contain total numbers of genuine exchanges, and the fake ones.