BitMEX launches options trading in partnership with PowerTrade

abdelaziz Fathi

Cryptocurrency derivatives exchange BitMEX has expanded into the options trading arena to capture a slice of the market currently dominated by Deribit.

The new offering was developed in collaboration with PowerTrade, a specialized crypto options platform. The product addition will help traders take advantage of volatility, hedge risk and discover prices through options, which are generally simple and have no special or unusual features.

Separately, BitMEX also increased its leverage on bitcoin perpetual swaps to 250x, ahead of the bitcoin halving event. The exchange is now targeting at least $500 million in trading volume within the next three months for its new options product, which is available across all regions where BitMEX operates.

“Crypto Options are a great product for derivatives traders especially when the market trajectory is going sideways. As a leading derivatives exchange, we want to empower BitMEX users with the optimal tools to maximize their potential and trading strategies, whether it’s hedging risks, positioning, or capitalizing on the recent surge in implied volatility,” said BitMEX CEO Stephan Lutz.

The BitMEX options platform offers a suite of institutional-grade options for various assets including bitcoin, ether, XRP, BNB, solana, and dogecoin, with plans for further expansion. This initiative is supported by digital asset market makers like iGreeks and DWF Labs to ensure deep liquidity and low slippage for traders.

PowerTrade CEO, Mario Gomez Lozada, also highlighted the synergy between the two platforms, saying, “The new BitMEX options platform merges PowerTrade’s trader-centric options solution with BitMEX’s deep liquidity and unparalleled reliability, empowering traders with seamless access to the most performant financial products.”

BitMEX is leveraging its infrastructure to offer a user-friendly trading experience, which includes features like an orderbook and Request-for-Quote (RFQ) system. This system allows traders to execute large single-leg or multi-leg options strategies without minimum requirements, distinguishing it from competitors that typically do not offer multi-leg strategies or have minimum block sizes.

To attract users to its new service, BitMEX is implementing a zero-fee policy on options trading throughout May, along with a $20 onboarding bonus for the first 1,000 new options traders. Additional incentives include rewards based on trading volume and referred trading volume, as well as monthly trading competitions.

Read this next

Market News

Weekly data: Oil and Gold: Price review for the week ahead.

This preview of weekly data looks at USOIL and XAUUSD where economic data coming up later this week are the main market drivers for the near short-term outlook.

Crypto Insider

Octa’s insights: the approval of spot Ethereum ETFs is not going as planned.

The approval of spot Bitcoin exchange-traded funds (ETF) by the U.S. Securities and Exchange Commission (SEC) in January 2024 triggered a substantial rise in the bitcoin price. Also, interest in the proposed spot Ethereum ETF has increased

Industry News

Bursa Malaysia introduces Trading Reminders

The Trading Reminder flag aims to alert investors to exercise caution when encountering a stock displaying persistent unusual price and/or volume movements after the listed company’s UMA response.

Industry News

21 Republican representatives want to “End the Fed”

“Americans are suffering under crippling inflation, and the Federal Reserve is to blame.”

Retail FX

Scope Markets launches unleveraged trading

“Whilst our traditional contract for difference (CFD) products continue to prove incredibly popular, the Invest account is unleveraged and only allows ‘long’ positions to be taken, a combination that significantly reduces the risk of capital losses.”


Unlocking Profit Potential: Earn Returns with DecodeEX Experience Bonus!

DecodeEX, the innovative brokerage subsidiary of Decode Global, announced its experience bonus campaign, offering every user the opportunity to maximize their strategic trading potential with up to $10,000 in experience bonus. 

Market News

Pretiorates’ Thoughts 28 – Precious metals and base metals out of control

Ten days ago we mentioned in Pretiorates’ Thoughts 26: Chapter 2 should start with Precious Metals.

Retail FX

Webull launches discount brokerage in Malaysia

“Making investing more inclusive and accessible to all, Webull Malaysia brings best-in-class tools and information to empower investors of all levels with knowledge and skills to help them make better investment decisions and achieve their investment goals.”

Digital Assets

Hidden Road adds OKX’s Nitro Spreads into prime brokerage

“Hidden Road continually seeks to increase market access and capital efficiency through expanded prime brokerage offerings. Integrating OKX’s Nitro Spreads product builds upon this philosophy by extending our counterparties’ ability to execute risk-managed arbitrage strategies.”