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Crypto  + Markets  |  January 31, 2024
BitMEX Launches Program for “Advanced Crypto Traders”
By: Joe Palmisano

BitMEX Launches Program for “Advanced Crypto Traders”

Crypto derivatives exchange BitMEX has launched Margin+, a program that gives “advanced crypto traders” extra collateral, allowing them to optimize trading positions without using additional funds.

Margin+ provides more tether or bitcoin as collateral to let BitMEX traders execute greater positions and orders. Margin+ is best suited for non-directional traders that use larger positions or more frequent trades to increase their Pn, the exchange noted.

Traders who choose Margin+ must meet specified requirements, such as maintaining a minimum balance and complying to Maintenance Margin Ratio (MMR) criteria. The minimum balance requirement is 30% of the Margin + collateral value. A margin call is triggered when the collateral value falls below 125%, whereas a decline below 110% results in liquidation.

The MMR ensures that traders keep a “healthy” balance of accessible cash and the maintenance margin requirement. Traders must have an MMR of 12 or higher to proceed with the drawdown. A decrease below 10 for more than 12 hours or below five triggers a margin call or prompt liquidation.

BitMEX offers more than 100 derivatives contracts, 11 pairs for spot trading, and a convert function between 30 different cryptocurrencies.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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