Margex is a popular cryptocurrency exchange that offers users a variety of features and exposure to dozens of crypto trading pairs with up to 100x leverage. The crypto trading platform supports multiple fiat and cryptocurrencies, and adopts robust security measures.
But is Margex exchange right for you?
In our Margex review, we will try to answer this question by focusing on points that matters most to users, such as crypto trading fees, features, customer support, user reviews and more.
Margex Review 2024
- Trade crypto with upto 100x leverage
- Copy other winning traders with copy trading or bots
- Despoit with credit or debit card instantly
- Show Full Guide
Our verdict on Margex
Margex is a go-to exchange for crypto day traders who want to benefit from leverage limits as high as 100x. The exchange doesn’t require users to complete KYC, which may be an advantage for many.
Moreover, Margex’s user-friendly design and reasonable pricing gives it an edge in the cryptocurrency derivatives market. The crypto trading platform supports dozens of perpetual futures, allowing traders to go long or short on their chosen pair.
Though the exchange’s trading-view-powered charting tools and various order types for risk management make it ideal for experienced investors, the fact that it is user-friendly and offer a copy trading tool attracts beginners to it as well.
Margex offers a lucrative sign-up bonus, which could be very useful for users, especially those low on capital. Additionally, the Margex exchange offers staking APYs of up to 5%, while allowing staked coins to be used as trading capital.
Pros and cons of Margex
Pros
- Margex leverage trading of up to 100x on a wide range of crypto crosses is great for day traders.
- Supports more than 30 cryptocurrencies, including popular ones – Bitcoin, Ethereum, Solana, TRON (TRX), Polygon, Chainlink and more.
- Copy trading supports passive investing and helps beginners to learn trading strategies.
- Offers sign up bonus and deposit bonus to users.
- Easy sign up process as the Margex exchange doesn’t require KYC.
- User-friendly and intuitive interface ideal for both beginners and experienced traders
Cons
- Doesn’t support some major cryptocurrencies.
- It is an unregulated trading platform, and this may raise concerns about security and regulatory oversight.
- Spot trading not available.
- Not many crypto pairs supported.
Methodology: How we scored Margex
We scored Margex on several criteria, which were measured across 46 individual data points. Our expert reviewers also applied their own experience with the trading platform when judging subjective qualities like ease of use and customer service. Detailed methodology is discussed later in the article.
About Margex
Founded in 2019, Margex is a Seychelles-based crypto exchange that provides easy and secure trading. The Margex platform specializes in trading derivatives and stands out for its exceptional efficiency. Margex can handle about 100K trades per second with an average execution time of under 8 milliseconds.
Even though the Margex platform is unregulated, it has implemented robust security measures with multiple layers of protection, such as cold storage and advanced encryption protocols.
The trading platform has a user-friendly interface making it suitable for beginners, while the presence of advanced functionalities makes it appealing to experienced traders.
Deposit and withdrawal fees
| Deposit* | Withdraw** | |
| Bank account | 0 | 0 |
| Debit card | 0 | 0 |
| Credit card | 0 | 0 |
| PayPal | 0 | 0 |
*Margex does not charge any deposit fees.
** Margex does not charge any additional fees for withdrawals, but a blockchain miner fee, which is reflected in the withdrawal placement window will be incurred for any withdrawal.
Trading fees
Margex primarily charges two type of trading fees, which is consistent across all markets – Spot and Futures.
The two types of trading fees are:
- Trade Fee: which is incurred when an order is executed.
- Funding Fee: which is incurred when a position is carried into a new funding period. The Funding Fee is directly related to the current ratio of Longs to Shorts and underlying market volatility.
| Taker (Market Orders) | Maker (Limit Orders) | |
| Spot | 0.060% | 0.019% |
| Futures | 0.060% | 0.019% |
Margex supported cryptocurrencies
Margex doesn’t support a large number of cryptocurrencies like other major exchanges, such as Binance and Coinbase, but it does support a diverse range of cryptocurrencies to cater to traders of varying preferences and strategies.
Margex supports over 30 cryptocurrencies and more than 40 trading pairs. Some of the major cryptocurrencies that the exchange supports are: Bitcoin (BTC), Ethereum (ETH), Solana, TRON (TRX), Polygon, Chainlink (Link), Litecoin and Avalanche.
Margex key features
| Overview | |
| Lending/borrowing | Margex allow lending/borrowing through margin trading with up to 100x leverage trading |
| Staking | Users can stake their tokens and earn passive income with up to 5% APY |
| Leverage | It allows minimum of 5x leverage trading and a maximum of 100x leverage on selected cryptocurrencies |
| Futures or derivatives | Exchange stands out for its crypto futures trading, allowing users to trade top crypto assets with high leverage |
| Sign up bonus | Margex offers $50 registration bonus and $50 deposit bonus |
| No KYC trading | Margex values user privacy and believe in users’ right not to disclose their personal information. This puts it high on our list of best places to buy Bitcoin anonymously. |
| Multicollateral wallets | Such a wallet allows users to deposit any cryptocurrency and trade any listed pair, with settlements made in user selected collateral |
| Margex Convert | It makes easy to exchange one cryptocurrency for another |
| Demo Margex trading account | Users can do risk-free trading with virtual funds |
Margex app review
Margex has two mobile trading apps each for iOS and Android. One is for trading perpetual futures and the second app is for copy trading. Both apps are user-friendly with modern, clean, and self-explanatory UI. Moreover, the apps are designed with rich colors, making them visually appealing.
Similar to Margex’ website, the apps have the ability to execute orders’ superfast and efficiently. Additionally, the app provide users with all information needed, including price, commission, ROE, quantity, margin and more, and any change in these information are executed in milliseconds.
On Play Store, app has more than 10k downloads and a rating of 3.5.
User ratings of Margex
| Rating | Number of reviews | |
| Google Play | 3.5 | 295 |
| Apple Store | 4 | 99 |
| Trustpilot | 3.6 | 73 |
Margex Customer satisfaction
Overall, Margex has a positive user sentiment. Most users have praised the app for its simplicity, both in terms of registration and use. Many also applauded the exchange for its transparency and the Margex bonus that it provides on sign up and at the time of deposit.
Some, however, have complained about customer support being unresponsive and slow, while a few have encountered issues in withdrawing the money.
No complaints here. The trading fees are pretty standard, but it’s great that they give everyone a $100 bonus to cover them. Definitely recommend – read one user review of Trustpilot.
Margex took $600 from me and then refused to research why my trade showed in profit but after the order was showed the price as less than what I originally bought it for. Avoid for your safety – read one user review on Play Store.
Margex customer support
Margex users can contact customer support by submitting a request via email and live chat, which is available 24/7. Additionally, the exchange provides updates to the users through its social media channels, including Facebook, YouTube, Telegram, X and Discord. The support is available in several languages.
Users can also refer to Margex’s extensive Help Center to find answers to common trading and trading platform related issues. Additionally, the exchange makes available video tutorials and trading guides on its platform to educate users.
In our test of Margex’s customer support, we found them to be responsive and helpful.
Ways to contact Margex customer support:
- Social media (Facebook, YouTube, Telegram, X and Discord)
- Live chat
Is Margex Safe?
We used the following factors to determine whether or not Margex is safe:
- Security: Even though Margex is unregulated, it focuses heavily on security. The exchange has implemented multiple layers of security to protect user funds and personal information.
- Proof-of-reserves: Unlike many other popular crypto exchanges, such as Binance and Kraken, Margex doesn’t make public its proof-of-reserves data.
- Past hacks: Margex, so far, hasn’t witnessed any malicious hacks or security breaches. Though the exchange doesn’t have a full-scale bug bounty program, it encourages users to report security issues.
- Regular security audits: The exchange regularly conducts in-house and third-party security audits to ensure its security is of high standard. Regular audits also help in identifying and fixing any potential vulnerabilities.
- Continuous monitoring: The exchange has real-time monitoring and alerts in place to quickly respond to any usual activities.
How to sign up on Margex
Signing up on Margex is easy. Follow the below steps to sign up on the exchange:
- Visit the official Margex website and click the ‘Register’ button.
- Provide your details, including email or phone number, and then create a secure password.
- You will have to complete a simple verification to prove you are not a robot.
- Now verify your Email/Phone by entering the verification code sent to your email or phone.
- You have now created the margex trading account, but it is important that you secure your account.
- To secure your Margex account enable Two-Factor Authentication (2FA) and backup your security key to help in account recovery when needed.
- You are now ready to trade, but you first need to fund your Margex account by navigating to the Margex Wallet section and selecting the deposit option.
- Now familiarize yourself with the margex platform. The best way to do so is to practise first with a demo trading Margex account.
- You are now ready to place your first trade.
Exchanges like Margex (No KYC exchanges with high leverage)
| Exchange | Payment methods | Cryptocurrencies | Trading fees | No KYC account limits |
| Phemex | Crypto, Card, Bank Transfer, SEPA, Union Pay, PayID | 190+ | 0.075%/-0.025% | KYC required to purchase crypto with fiat |
| Lbank | Crypto, Card, Bank Transfer, SEPA, Union Pay | 50+ | Variable | Email = 0.5 BTC per dayMobile = 1.5 BTC per dayGoogle Authenticator = 15 BTC per day |
| HTX | Crypto, Card, Bank transfer/ABA, SWIFT, SEN fiat deposits | 500+ | Variable | $1,000 deposit limit |
| ProBit | Crypto and Bank Transfer | 800+ | 0.2% | $5,000 withdrawal limit and no access to IEOs |
