We have been listening to your feedback about BitMEX. The general mood has been very positive, but many questioned our trading fee of 0.5% per trade. In a landscape now dominated by Chinese exchanges, 0.5% is too much. BitMEX is a premium product and its futures not subject to the same caveats as those traded on the Chinese exchanges, but that is not enough for most to get past the sticker shock.

BitMEX has unique strengths in this market, the largest of which being our team's financial experience. That team was able to build an unrivaled trading engine with speed and features not seen on any other exchange. We want to leverage that strength.

Effective immediately, trading fees have been reduced 100x from 0.50% to 0.005%. This is one of the lowest in the business.

BitMEX will now be charging an insurance fee on open positions of 0.015% per trading session. This fee offsets the risks taken on by BitMEX by guaranteeing settlements. In the case of trader bankruptcy, BitMEX covers all losses and will not charge traders for the bankruptcy of other traders. BitMEX is the only derivatives exchange that offers this.

If you are interested in using doing automated trading on BitMEX, please see our REST and API documentation. We also offer a reference Market Making Bot written in Python that works with both Access Tokens and permanent API keys.

We are working on a unified SDK that will add tooling for most major programming languages.

Please keep your comments coming. We are excited to show the Bitcoin community what BitMEX can offer it.

Happy Black Friday everyone.