Notice Regarding Spam Orders

N.B. Since this blog post was published there has been an update to this rule. The most up-to-date threshold information can be found here.

We intentionally set the contract sizes of BitMEX products at low values to encourage traders both large and small to trade on BitMEX. However, some traders abuse this and spam the orderbook or trade feed with many small orders.

The following changes were made effective on 10 June 2016 12:00 UTC:

  • Accounts with too many open orders with a gross value less than 0.0025 XBT each will be labeled as a Spam Account.
  • If you are a Spam Account:
    • Orders below 0.0025 XBT in value will automatically become hidden orders.
    • Hidden orders do not show in the orderbook and always pay the taker fee.
    • Post-Only spam orders will be Rejected instead of being hidden.
    • Too many spam orders may be grounds to temporarily ban an account from trading.
  • Spam Account designations are re-evaluated and lifted automatically every 24 hours if user behavior has changed.