500 MARKETS REVIEW
The cryptocurrency derivatives industry is fast growing, and we’re seeing a slew of platforms compete with one another for the most innovative trading products. While traditional companies like BitMEX, Binance Futures, and OKEx continue to dominate the market, there are a slew of new trading platforms that provide a twist to the standard crypto derivatives trading experience.
In this review, we’ll look at 500-markets, a crypto derivatives exchange that aims to stand out from the crowd by offering contracts connected to indices, commodities, and forex markets, in addition to derivatives tied to various crypto assets.
Before we explore the different aspects of the 500-markets platform in more detail, let’s quickly go through some of 500-markets’s key advantages and disadvantages:
The pros of trading cryptocurrency with leverage on 500 markets:
- Offers contracts tied to cryptocurrencies, indices, commodities and forex markets
- Supports deposits with 4 different cryptocurrencies
- Excellent demo trading implementation
The cons of trading cryptocurrency with leverage on 500-markets:
- The selection of contracts tied to crypto assets is smaller than what’s offered by some competitors
Trading products
500-markets has done an excellent job of distinguishing itself from the competitors in terms of trading products. 500-markets’s bitcoin trading products are perpetual contracts, which are extremely familiar to cryptocurrency derivatives traders. Users can choose between isolated and cross margins in 500-markets. The exchange has a good assortment of crypto-related contracts, including USDT-denominated contracts for a variety of cryptocurrencies.
This list covers the most important crypto assets and should be sufficient for the great majority of traders, but platforms like Binance Futures support a wider range of crypto assets. For Bitcoin and Ethereum, users have the option to choose “inverse” contracts. In short, this allows users to use BTC as margin for trading the Bitcoin-based contract and ETH as margin for trading the Ethereum-based contracts. However, 500-markets also has USDT-denominated contracts for Bitcoin and Ethereum.
Leverage limits
500-markets has different leverage limitations based on the product you want to trade. The BTC/USDT contract has a maximum leverage of 150x, which is larger than what most competitors provide. The maximum leverage for Ethereum is 100x. 500-markets’s other cryptocurrency-based contracts have leverage caps of 50x or 35x.
The highest leverage allowed for indices and commodities is 100x. This limit has been raised to 300x for forex pairings with lower price volatility.
Interface
500-markets’s approach to their trading interface is conservative – while there are no major improvements over competitors in this regard, the interface will feel familiar for anyone who’s ever used a cryptocurrency exchange before.
Is 500-markets a safe exchange to use?
We haven’t found any proof of 500-markets’s security vulnerabilities, but it’s worth noting that the platform has only been operational since 2019, thus it hasn’t had the chance to establish a long track record on security.
Certain tools are available on the 500-markets platform to assist users in securing their accounts. This includes a unique fund password as well as Google Authenticator 2-factor authentication.
500-markets review verdict
Overall, 500-markets has delivered a compelling platform for users who are looking for a cryptocurrency-powered leverage trading platform. The best aspects of 500-markets are its diverse range of trading products, great implementation of demo trading feature. The main changes we’d like to see 500-markets make is to list more cryptocurrency contracts to catch up to some of its major competitors.