Bexplus is a global crypto derivatives trading platform that was founded in late 2017 and is licensed by the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA). All users have the same level of access and are subject to the same rules and fees. With no forced KYC (Know Your Customer), anyone interested in leverage trading can sign up and begin trading in seconds. However, trading in crypto derivatives is not legal in all jurisdictions, so consult with your legal or tax advisor before trading on Bexplus. It has obtained MSB (Money Services Business) status, which allows it to do business in the United States.
Bexplus has offices in Singapore, Japan, the United States, and Brazil, and is constantly expanding globally.
Design and usability
Bexplus has user-friendly interface. Newcomers can take advantage of a demo account with 10 BTC in it to learn how the platform works, how to use all of the features, and learn anything they may not know yet, all without risking real money. This is especially important given that the platform only provides 100x leveraged trading: while your initial margin will yield a hundredfold return in the case of a correct call, the same is true in the case of a wrong call. Users who want to take advantage of the much larger positions that are now available must be aware of the risks associated with this trading strategy.
Aside from English, the platform is available in Spanish, Portuguese, Turkish, German, Japanese, Russian, and other languages. Users can find in-depth statistics about the previous 24 hours (or longer, depending on what they choose) as well as a plethora of trading options under the Trading tab on the home screen. Those who are still unsure what to do can access the trading simulation via a link at the top of the page. Another useful link will take them to trading rules, which will inform them about fees, forced liquidation, and other frequently asked questions.
Bexplus charges fees for each transaction: in a USDT pairing, BTC transactions will incur a fee of 0.075 percent, ETH transactions will incur a fee of 0.151 percent, LTC transactions will incur a fee of 0.193 percent, and EOS and XRP transactions will incur a fee of 0.195 percent. This applies whether you place a maker or taker order. In the case of overnight financing, an additional 0.1 percent loan interest is charged (you do not have to pay this if your position closes before midnight GMT).
After you open a position, forced liquidation occurs when the margin rate on your account falls to 30% or less. Furthermore, when the profit on your position reaches a net 85 percent of the value of your account, the corresponding positions are automatically closed for a profit.
When it comes to deposit and withdrawal fees, Bexplus charges a 0.0005 BTC withdrawal fee, which also includes a BTC transaction fee. Except for the network fee, deposits to Bexplus are free of charge.
The Bexplus platform settles all fees and transactions in BTC, but the fees are relatively low, especially when compared to more regulated margin trading platforms.
Another key piece of Bexplus is their interest-bearing wallet, which provides users with annualized returns ranging from 18% to 30% as long as they have 0.05 BTC or more. However, in order to keep the bonus, users must trade at least 10% of their saved funds on a monthly basis, or they will be reduced to a flat 3% annualized interest rate. However, if they become “active users” again (trading 10% or more monthly), they are restored to the previous, higher interest rate with no further consequences. In addition, new users will receive a 100 percent bonus on their first deposit, up to 10 BTC. This allows them to trade without putting much at risk during the first stretch.
Bexplus also has a mobile app that is fully functional. It allows you to take your trading wherever you go without fear of losing access to any of their features, such as margin trading or digital wallet. The app, which is available for both iOS and Android systems, is extremely convenient for trading on the go.
When it comes to customer service, their professional team is available 24 hours a day, 7 days a week via email and social media, but many common issues are already extensively covered in their Help Center.
Bexplus keeps the majority of its coins in cold wallets, making them completely inaccessible to malicious actors. When logging in, users can enable two-factor authentication (2FA), and the site is encrypted with SSL technology and protected against DDoS attacks. External security experts have not rated the exchange’s security measures.
Deposit and withdrawal methods
Bexplus accepts deposits in Bitcoin (BTC), Tether (USDT), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and EOS, but only BTC withdrawals. You will be able to exchange your deposited cryptocurrencies to BTC and trade supported cryptocurrencies such as BTC/ETH/LTC/DOGE/XRP, but you will not be able to withdraw anything other than BTC. While this is a restrictive approach, it is also a simpler one.
There is no deposit limit, and no deposit service fee is charged. However, you should be aware that Bexplus will charge a flat 0.0005 BTC service fee for each withdrawal. As an added security measure, after you submit your withdrawal request, you will receive a withdrawal address confirmation email that you must respond to before your withdrawal is processed.
Bexplus is a good cryptocurrency derivatives trading platform that does exactly what it says it will do. This means you won’t have to wade through a maze of options and features to find what you’re looking for. You can also protect your right to privacy because they do not require you to go through KYC procedures, and their demo trading account allows you to practice without risking real money. This means that the platform is an excellent choice for both new and experienced traders looking to increase their profits through leverage trading.