BTCEX is a Canadian centralized cryptocurrency exchange (CEX). The platform offers spot and derivatives markets, portfolio margins, and copy trading. The BTCEX crypto exchange is KYC-compliant and requires ID verification.
BTCEX supports crypto-crypto trading. There are five main trading categories on the BTCEX crypto exchange:
- Spot trading
- Margin trading
- Perpetual contracts
There are over 200 BTCEX trading pairs available for all traders, with more than 150 pairs in the spot market and more than 60 pairs in perpetual trading. The BTCEX spot market offers two order types – market and limit orders.
BTCEX is considered one of the first exchanges to offer USDT-settled options for its derivatives market traders. It uses a unique mechanic known as Margin Mode, enabling the same margin to be used simultaneously in spot, options, and futures trading. Customers can trade with up to 125x leverage.
The two types of futures are perpetual and quarterly. Perpetual futures on the BTCEX crypto exchange are USDT-margined. Costs are calculated based on the initial margin and potential open loss.
Additionally, the platform offers Copy Trading. This feature allows customers to observe the strategies used by prominent traders and select which trading pairs they want their portfolios to match.
BTCEX exchange fees use the maker-taker model and are fixed. This means that the rates remain constant regardless of the transaction amount. The data is typically presented using USDT. The traders’ BTCEX volume does not affect the costs.
For BTCEX spot and margin traders, the fixed maker/taker fee rate is 0.1%. Traders that use perpetual contracts pay maker/taker fees of 0.02% and 0.05%, respectively.
The BTCEX crypto fees in options and futures markets are calculated per unit. The supported units that the fees are based on are Bitcoin (BTC) and Ethereum (ETH). In BTC options, the fee is 20 USDT per BTC, while in ETH options, the cost is 1.5 USDT per ETH.
In the Bitcoin futures market, the BTCEX exchange fees are USDT per BTC for makers and 17 USDT per BTC for takers. In Ethereum futures, the maker/taker fees are 0.75 USDT and 1.25 USDT per ETH, respectively. The rate is fixed regardless of the BTCEX crypto price in the market.
There are no deposit fees in the BTCEX cryptocurrency exchange. Factors such as network congestion may affect the withdrawal rate. The minimum withdrawal amount and fees are asset-specific.
For example, the minimum Ethereum withdrawal amount is 0.0072 ETH, while for Bitcoin, it’s 0.0011 BTC, and the withdrawal fees are 0.0035 ETH and 0.0004 BTC, respectively. Fees are subject to change at the discretion of BTCEX.
About the Company
The BTCEX crypto exchange was established in March 2021 by Kevin Ng. While the exchange is incorporated in Seychelles, its parent company, BTCEX Exchange Limited, is registered in Canada.
Soon after its launch, the BTCEX cryptocurrency exchange received the Canadian Money Services Businesses license, allowing it to officially operate as a financial service. The first services to be launched were the BTCEX Spot and Margin trading in March 2021, with derivatives markets launching in the following months.
In August 2022, BTCEX announced that the platform surpassed 1 million registered users. Additionally, it was reported that the average daily BTCEX trade volume was $35 billion.
Kevin Ng is the CEO of BTCEX. He founded the parent company in 2016. Ng has over a decade of experience working as a financial consultant for various Hong Kong-based finance and FinTech institutions.