BitMEX Review

BitMEX has announced that its exchange will close on 23 September 2026 at 04:00 UTC. New accounts can no longer be created, so BitMEX is not a platform we recommend to new users.

Existing users do not need to panic, but they should act. BitMEX is asking customers to close open positions and withdraw their assets as soon as practical.

BitMEX review summary

BitMEX launched in 2014 and became known as a pioneer of perpetual contracts with high leverage. It played an important role in crypto derivatives, but owner HDR Global Trading Limited has decided to close the exchange after a strategic review.

From 26 August 2026 at 04:00 UTC, users will no longer be able to open new positions. Existing positions can only be reduced. BitMEX may force close positions during the wind down and will close any that remain at the final deadline.

We do not provide a BitMEX registration link. For regular crypto trading in Europe, a licensed platform such as Bitvavo is more practical.

When does BitMEX close?

The official schedule has three key dates:

• 23 July 2026: new account registrations stopped immediately;
• 26 August 2026 at 04:00 UTC: new positions will be blocked;
• 23 September 2026 at 04:00 UTC: all exchange services will end.

BitMEX says the exchange will work normally until 26 August. After that point, users may only reduce their exposure. Contracts with limited liquidity can be settled earlier.

What should existing users do?

1. Review every open position and order.
2. Close positions yourself before BitMEX does it.
3. Download transaction history and relevant statements.
4. Withdraw crypto to a personal wallet or another suitable platform.
5. Check the network and withdrawal address carefully.
6. Keep confirmations and verify the transaction on the blockchain.

Only use the official website and app. BitMEX specifically warns about phishing and anyone promising priority or accelerated withdrawals.

Costs during the wind down

Normal trading fees are now less important than the closure terms. A position force closed by BitMEX could be executed at an unfavourable price. The effect can be worse when liquidity is limited.

Verified users who leave assets on the platform after 23 September may face an account charge. BitMEX states that this will be the equivalent of US$50 or 1% per year, whichever is higher, charged monthly.

Withdrawals remain possible after closure, but there is no advantage in waiting. Blockchain congestion and additional checks may also delay processing.

BitMEX compared with Bitvavo

BitMEX was designed mainly for experienced futures and perpetual traders. Bitvavo is not a direct substitute for advanced derivatives, but it is a more sensible option for buying, selling and holding crypto in supported European countries.

Bitvavo holds a MiCA licence and supports euro payments. BitMEX no longer accepts new customers and is disappearing as a trading platform. For new users, the choice is therefore straightforward.

What did BitMEX offer?

BitMEX offered spot, futures, perpetuals, margin trading and trading bots. It became best known for perpetual contracts with very high leverage. This could magnify profits, but even a relatively small price move could lead to liquidation.

The interfaces below are historical and are not an invitation to open new positions.

Security while withdrawing

BitMEX says no customer funds were lost through a hack during more than 11 years of operation. It also publishes information about reserves and liabilities.

That does not change the practical advice: do not leave assets unnecessarily on a platform that is closing. Verify each address, enable two factor authentication and ignore messages asking for a password or recovery phrase.

BitMEX user experiences

BitMEX has a clear place in crypto history through the development of perpetual contracts. The current assessment is no longer about features or low fees, but about an orderly exit for existing customers.

Company details

BitMEX is operated by HDR Global Trading Limited. The company says the decision followed a strategic review of its business and the wider crypto industry.

After 23 September, users will retain access to balances, transaction history and withdrawals. Normal exchange services will no longer be provided.

Conclusion of our BitMEX review

BitMEX closes permanently on 23 September 2026. Do not add new exposure during the wind down and do not wait until the final moment to withdraw. Close positions yourself, save your records and remove assets well before the deadline.