Bexplus offers markets in Bitcoin (BTC), Ether (ETH), Cardano (ADA), Dogecoin (DOGE), Ripple (XRP).
To trade on the platform you are not required to go through identity verification.
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Bexplus is a cryptocurrency derivatives trading platform, specifically perpetual futures. Its main attribute lies in its ease of use, offering one of the most user-friendly user interfaces in the entire market, in our experience, this is without leaving aside user security. In the following review we will explore all that Bexplus has to offer.
What is Bexplus
Operating since 2017, Bexplus
is a “crypto derivatives” exchange platform, as their website describes it. Registered in St. Vincent and the Grenadines, it has offices in Singapore, Japan, Brazil and the United States, the latter country where it obtained its MSB, Money Services Business, license from the Treasury Department’s FinCEN (Financial Crime Enforcement Network) regulatory agency in March 2021. Bexplus homepage. Source: Bexplus.
Bexplus has a web and mobile platform, making it possible to take trading anywhere. Along with this, it offers services fully in Spanish and has 24/7 support via chat from the web portal.
Markets available on Bexplus
This platform currently offers a total of 5 derivative markets: BTC, ETH, ADA, DOGE and XRP, all of them against USDT. Each of them operates under the perpetual future mode. Users can invest in all trading pairs provided on the platform, but the margin used, profit and loss will be calculated in BTC.
To trade on Bexplus you can deposit BTC, ETH, ADA, DOGE, XRP or USDT. Whichever cryptocurrency you deposit, you will be able to trade within any of the markets. The platform takes care of the corresponding exchange. For example, if you have deposited ETH, but you want to trade in the BTC/USDT pair, the platform will place the available balance, expressed in the pair to be exchanged.
This type of feature is advantageous as it facilitates trading on the various Bexplus markets. On other platforms, trading on derivatives markets with the BTC/USDT pair, for example, requires you to have a balance in USDT.
100x leverage on all markets
Bexplus has 100x leverage for all its markets, or in other words, 100x leverage for all its markets
is the same, 100 times more exposure to your investment capital. Investing 1 BTC will allow you to open a position in the market of 100 BTC. But beware, leveraged trading allows cryptocurrency traders to make even more profit, but it also boosts losses in equal measure.
It should be noted that this leverage is fixed, there is no way to reduce it. All your buy or sell trades are done as a 100x exposure. However, there are maximum and minimum trade limits for trading which vary from market to market. In the case of BTC, the minimum order you can open is 0.1 BTC and the maximum is 200 BTC. This means that your minimum investment capital is 0.001 BTC.
Trading limits on Bexplus. Source: Bexplus.
to a maximum of 20x, Bexplus offers higher levels of exposure.
gives new users a 100% bonus, up to 10 BTC, of the amount of their first deposit when registering for the first time on the platform. While this bonus cannot be freely withdrawn, it can be used as margin for trading operations and the profits earned can be withdrawn, which is a good incentive rarely seen in the industry.
Trading interface, the strong point of Bexplus
The trading interface of Bexplus is its strongest point. It can be summed up in one word: simple. A straightforward interface, oriented to a single function which is to make trading.
The trading charts they use are supplied directly by TradingView
, one of the leading technical analysis trading tools portals. Bexplus trading interface. Source: Bexplus.
The rest of the interface is differentiated with two big buttons, Buy and Sell. Within the interface it is only possible to place two different types of orders, the Market order , which you will get as Instant Execution and the Limit
The execution of the orders is fast. In our tests, there was never any kind of hitch or failure. Placing and closing an order, with this interface model becomes very practical.
Perhaps you might be thinking
that other exchanges offer more advanced tools by having more feature-rich interfaces, but not at all. Here you will find everything you need to trade futures contracts quickly and easily. However, it does not have advanced stop limit
Demo account for practice
Bexplus provides you with a very valuable tool for beginners and professional traders alike. The demo account has 10 BTC and allows you to trade and trade on the platform without risking your money.
The demo account allows you to use all the trading tools available, making it easy for novice traders to learn how to trade and for experienced traders to polish their strategies before making their first deposit. This is a big plus of the platform.
Bexplus Interest Bearing Wallet
Another particular feature we were able to find within Bexplus is the Interest Bearing Wallet. This pays you up to 21% annual interest for keeping your BTC on deposit and trading on the platform. The balance deposited in this wallet cannot be used to trade in the trading markets.
Bexplus Wallet Interest Rates. Source: Bexplus.
However, as detailed on its website
, certain conditions apply to generate interest. The first of them is that you must go through a process of identity verification, sending all the necessary data to the email firstname.lastname@example.org.
The second aspect, and perhaps the most complex, is the activity of the account. To qualify for higher levels of interest, the “transaction ratio
” must be met. This is the level of capital used in a 30-day period after the deposit has been made into the portfolio of interest.
For example, if you have deposited 1 BTC in your account to trade and you open a 20 BTC position, counting the 100x leverage, it would mean that you would be using 0.2 BTC of your equity. This translates to you using 20% of your margin.
In the table in the image above you can see, that with 20% margin you are eligible for interest levels 7 and 8. Of course, you will need to deposit 6 to 10 BTC to be eligible. Also, in order to have this interest rate all year long, you must maintain these margin levels every month. If it reduces, within 30 days, it will reset to 3% interest for another 30 days.
Understanding this is perhaps the most complex part of using this portfolio. The rest of it, at the time of use is just a matter of transferring from the main portfolio to the interest portfolio and that’s it.
Bexplus manages different levels of fees that vary depending on the market you are trading. The main one, corresponding to the BTC/USDT pair, is 0.075% of the total margin, not leverage, take this into account.
Account. For other markets the rate increases to 0.15% or more.
Trading commissions on Bexplus. Source: Bexplus.
In comparison, the prices are within the range that is managed by the different exchanges. Binance, for example, manages a base fee of 0.075% as does Bybit, another exchange dedicated to the futures market. This means that Bexplus competes directly in this market.
For deposits, Bexplus does not charge any commission and for withdrawals it only charges the network fee of the cryptocurrency being withdrawn. For Bitcoin, at the time of writing, the fee is 0.0005 BTC and the minimum deposit and withdrawal amount is 0.001 BTC.
Security at Bexplus
Bexplus offers its users a basic, yet efficient security system for protecting their accounts. In addition to the password, it allows you to activate a two-factor authentication mechanism (2FA), so I recommend using strong and strong passwords, including uppercase, lowercase and special characters.
Regarding the protection of funds, taking into account that we are talking about a centralized exchange, Bexplus uses a multi-signature and encrypted cold storage system, according to their website. The cold wallet makes it impossible for hackers to access the cryptoassets in case of hacking the platform.
The strong point that caught my attention is the trading interface of Bexplus
. For me it is one of the simplest interfaces in the entire market. With the integration of TradingView charts, there is no need to use other tools. However, it is true that it lacks other order types and more trading pairs, but overall it is quite good.
One of the particular features I found within Bexplus was the “interest wallet”. While opting for a quota within it is a bit strict, it is an attractive option for those interested in earning passive income.
Also, the demo account is valuable, as it’s always nice to have options that allow you to practice and improve your trading skills before you even deposit 1 satoshi
Using Bexplus? If you understand the risks involved in trading futures on margin, this is a very good platform, with rates within range and a very good interface.