UPDATE 1 June 2023: When trying to access the website of MoonXBT today, we were unsuccessful. As far as we know, there have been no preceding messages on system maintenance or new websites or anything similar.
Accordingly, we believe that this exchange has closed down and we have marked it as "dead" in our Exchange Graveyard. If the exchange's website would become accessible again and the error is just temporary, we will "revive" it and bring it back to our Exchange List.
To find a reliable exchange where you can start an account, just use our Exchange Filters and we'll help you find the right platform for you.
What is MoonXBT?
MoonXBT is primarily a cryptocurrency derivatives exchange registered in Seychelles. It is operated by the company Nano Trade Global Technology Ltd and has been active since 2021.
A derivative is an instrument priced based on the value of another asset (normally stocks, bonds, commodities etc). In the cryptocurrency world, derivatives accordingly derive their values from the prices of specific cryptocurrencies. You can engage in derivatives trading connected to a number of all of the biggest cryptos here.
The marketing budget seems to be a bit lower than a few other exchanges (like Bitget paying Lionel Messi USD 20 million to become their Brand Ambassador, or Phemex partnering with Kevin De Bruyne), but we must applaud them for their creativity here. Simple, cheap, but fun:
MoonXBT has an affiliate program. Through this program, you can earn up to 50% commissions on MoonXBT's trading fees generated from the contracts trading of your referrals. 50% is a competitive level relative to the industry standards. Please be advised though that you need to apply to be a part of the affiliate program, and that the standard invitation program only gives you 20%.
You can sign up to the affiliate program here.
As advantages of the platform, MoonXBT themselves list six items on their website. First off, they state that they have low fees. That is true with respect to taker fees, but not entirely true with respect to maker fees (see more about this below under MoonXBT Trading fees). Second, they say that they offer high leverage (1-150x), which can be helpful for traders interested in that. Third, there is a low threshold, meaning that all you need to start trading is 1 USD. This can be very helpful for any new crypto investors who want to learn by doing but without risking large sums of money. Fourth and fifth, they claim to have an extremely simple interface with a transparent price chart. Sixth, and finally, they claim to have high liquidity.
MoonXBT also has separated ask and bid lines, and the weighted value of the global spot market is anchored in real time. The exchange has informed us that this is an important feature of MoonXBT, and that "other exchanges do not have this". The exchange has further declared that the concept of "light contract" was first proposed by the MoonXBT team on a global scale. Compared with conventional contract products, MoonXBT light contract is "simple, fast and easy to understand". It is a "everyone can understand in seconds, and everyone can use it"-type of contract.
Most crypto traders feel that desktops give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. If you are one of those traders, you’ll be happy to learn that MoonXBT’s trading platform is also available as an app for iPhone and Android users.
Social Trading Platform
MoonXBT offers a variety of unique features that makes it stand out from the crowd. One of the core aspects of the service has been its social element, offering features like copy trading, trading battles, and an inclusive community.
To sum it up, copy trading refers to a form of investment that allows traders on the platform to follow others, mimicking their trading actions. This has been a huge draw for novice investors as it saves a lot of time and helps them to avoid losses. Transparent data allows users to view market conditions, strategies, and positions, allowing traders to benefit from the community. As an investor, you’ll be able to choose one or more traders, meaning you can automatically open and close positions. Certainly an exciting feature which is becoming more and more common.
Last thing to mention on this is that the copy trading feature can benefit the users being copied too, as they can get the profit from the follower’s profitable orders!
Another interesting feature, of a more gamified nature, is what the platform calls the Trading Battle. The Trading Battle bonus pool gives players the chance to donate to the bonus pool, upping the stake and creating even more exciting trading battles. What’s more, participants will be taking part in battles from the new private Trading Battle rooms, creating a (hopefully) intimate and riveting atmosphere.
With a focus on community, the team at MoonXBT has been able to build on its user base. A big part of that is the communication between users, which is accessible through various features on the site, most notably is the community forum. For the novice and experienced traders, the community forums have become a hotbed of trading information and trader talk.
Another core feature of the MoonXBT platform is its liquid contracts (Liquidity Contracts). MoonXBT’s liquidity contracts reflect MoonXBT’s innovative liquidity solutions, offering a fast, secure and reliable trading experience.
MoonXBT warrant options derive from American options with optimized links, offering a simplified and streamlined trading process, which overall gives the user better liquidity. Options trading at MoonXBT includes warrant, touch, as well as American and European Spread options.
MoonXBT also offers leveraged trading to its users. They only offer perpetual (i.e., futures without expiry dates), and no futures with expiry dates. The maximum leverage level for their perpetual is 150x (for the BTC/USDT contract). A word of caution might be useful for someone contemplating leveraged trading. Leveraged trading can lead to massive returns but – on the contrary – also to equally massive losses.
MoonXBT Trading View
Every trading platform has a trading view. The trading view is the part of the exchange’s website where you can see the price chart of a certain cryptocurrency and what its current price is. There are normally also buy and sell boxes, where you can place orders with respect to the relevant crypto, and, at most platforms, you will also be able to see the order history (i.e., previous transactions involving the relevant crypto). Everything is in the same view on your desktop. There are of course also variations to what we have now described.
This is the trading view at MoonXBT, obtained on 19 January 2023 (not signed in):
It is up to you – and only you – to decide if the above trading view is suitable for you. Finally, there are usually many different ways in which you can change the settings to tailor the trading view after your very own preferences.
MoonXBT Trading fees
Many exchanges charge what we call taker fees, from the takers, and what we call maker fees, from the makers. Takers are the people removing liquidity from the order book by accepting already placed orders. Makers are the ones placing those orders. The main alternative to this is to simply charge “flat” fees. Flat fees mean that the exchange charges the taker and the maker the same fee.
This exchange offers a flat fee of 0.05% per contract trade. According to the most extensive industry report ever prepared on contract trading average fees, the global average contracts trading taker fee and maker fee was 0.0618% for takers and 0.02597% for makers.
Accordingly, MoonXBT's taker fees are slightly below, but their maker fees are substantially above, the global industry average crypto contract trading fees.
MoonXBT also offer spot trading. For the spot trading, the taker and maker fees are set at 0.10%. Also this is below the global industry averages (0.2294% and 0.1854%, respectively).
MoonXBT Withdrawal fees
When withdrawing BTC from the MoonXBT-platform, you will have to pay 0.0002 BTC per BTC withdrawal. According to the latest empirical study that we have performed on Cryptowisser.com, the global industry BTC-withdrawal fee was 0.0004599 BTC per withdrawal.
Accordingly, MoonXBT's BTC-withdrawal fee is substantially below the current global industry average.
In order to trade here, you must have cryptocurrency, to begin with. The only asset class you can deposit to MoonXBT is cryptocurrency. However, if you really like MoonXBT but you don’t have any crypto yet, you can easily start an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy crypto there, and then transfer it from such exchange to this exchange.
Use our Exchange Filters to easily see which platforms that allow wire transfer or credit card deposits.