In this article my focus will be on Bullish exchange, a regulated cryptocurrency trading platform which was launched in 2021.
Primarily aimed at institutions and advanced traders, its offerings include spot trading and derivatives with deep liquidity and low fees on bull and bear futures and options.
Bullish exchange is a professional environment with a focus on serious crypto investors and traders, offering full-reserve custody, best in class security, and advanced trading tools.
About Bullish Exchange
Founded in 2021 and headquarter in the Cayman Islands, Bullish Exchange is a regulated cryptocurrency trading platform that focuses on institutional and professional traders. It provides spot trading, derivatives, futures, and options with deep liquidity via central-limit order book and automated market maker hybrid models.
Using full-reserve asset storage and segregated accounts, the platform employs two-factor authentication and regular audits, emphasizing security. Bullish is operational under several licenses, optimizing the platform’s transparency and trust.
It has low trading fees, advanced charting, margin trading, and API access. Retail traders may find the platform’s sophisticated features cumbersome, although it is perfectly tailored for professional traders.
Key points
Here is a clean, structured Bullish Exchange – Table of Specifications based on your details:
| Category | Details |
|---|---|
| Exchange | Bullish |
| CEO | Tom Farley |
| Launch Date | 2021 |
| Levels | 5 levels |
| Trading Fees | Up to 0.02% for Spot Taker Orders0% for Maker Orders |
| Restricted Countries | Canada, China, Japan, Israel, Russia, United Kingdom, Iran, North Korea, Myanmar |
| Supported Coins | 39 |
| Futures Trading | Yes |
| Minimum Deposit | $1 |
| Deposit Methods | Wire Transfer, Crypto |
| Withdrawal Methods | Wire Transfer, CUBIX, Crypto |
| Maximum Leverage | 1:7 |
| Minimum Trade Size | $1 |
| Security Factors | Two-Factor Authentication (2FA), Cold Storage, Multi-Signature Wallets |
| Services | Spot Trading, Perpetual Markets, AMM, Dated Futures, API Services |
| Customer Support Ways | Ticket |
| Customer Support Hours | N/A |
| Fiat Deposit | Yes |
| Affiliate Program | No |
| Orders Execution | Market |
| Native Token | No |
How to Create an Account on Bullish Exchange
Step 1: Open Official Bullish Website
Use a protected browser to access www.bullish.com. You want to always and double check you are not being phished.
Step 2: Locate and Click the Sign Up Button
From the main page, find and click on Sign Up or Create Account to begin filling out the registration form.
Step 3: Provide Your Email, Then Create a Password
- Provide a working email.
- Select a suitable password.
- Retype your password to confirm.
Step 4: Read and Elect to Accept All Important Terms and Conditions
- Read Bullish’s Terms of Service and their Privacy Policy thoroughly.
- Click the box to confirm agreeance.
Step 5: Email Verification
- Verification emails will be sent out by Bullish to check accounts.
- Follow the link provided to complete the account confirmation.
Step 6: Complete the KYC Verification
- Provide full legal name, Country of residence, Date of birth, and your complete address.
- A government issued identification document will be required (passport, driver’s license, or national ID card).
- A selfie or live identification may be requested.
Step 7: Configure Additional Account Security Options
- Mobile and computer devices are required to run Two-Factor Authentication.
Step 8: Deposit Funds
- After verification, log in to your account and head to Deposit.
- Select your way of funding the account either cryptocurrency or fiat.
Step 9: Start Trading
- Familiarize yourself with the trading interface.
- Depending on your liking, execute spot trade, futures, or derivatives orders.
Comparison with Other Exchanges
| Feature / Criteria | Bullish Exchange | Coinbase Global | Binance | Kraken |
|---|---|---|---|---|
| Primary Focus / Audience | Institutional, advanced traders with high liquidity and derivatives focus. | Retail + institutional in U.S.; beginner‑friendly and regulated. | Broad global retail & professional audience; highest asset variety. | Compliance‑ and security‑focused; strong for serious/trusted traders. |
| Trading Fees Highlights | Makers: often 0%/rebates; Takers: very low (0‑0.03% for many spot markets). ( | Fees higher for beginners; simple model but premium relative to ultra‑low fee peers. | Competitive fee structure, frequent discounts, many features to reduce cost. | Mid‑level fees; strong value when factoring trust, global fiat support, security. |
| Number of Supported Cryptos & Products | More limited variety (e.g., 50‑100 cryptos noted) but focused on core assets + derivatives. | Good variety (200+ cryptos) with strong fiat on‑ramp, but derivatives may be less expansive for some regions. | Very large variety (500+ cryptos, 1 000+ trading pairs) including spot, futures, options, staking etc. | Solid variety (220+ assets referenced) plus strong fiat support and regulatory compliance. |
| Security & Regulation Focus | Emphasises “full‑reserve” custodian model, segregated assets, institutional‑grade infrastructure. | U.S‑regulated, large legacy, strong public company disclosures. | Globally dominant but has faced regulatory issues in some jurisdictions; highest volumes bring both strengths & risks. | High mark for security, regulatory alignment, trusted longevity in market. |
| Ideal For | Professional / institutional traders who prioritise liquidity, low fees, derivatives. | Beginners, mainstream retail users, users in the U.S. wanting simpler access. | Traders who want wide asset selection, advanced features, global reach. | Users who prioritise security, regulatory trust, fiat on‑ramp, broad global coverage. |
| Key Limitation(s) | Fewer asset choices compared to largest exchanges; may be less suited for very small retail users. | Higher relative fees; fewer ultra‑advanced derivative features in all regions. | Complexity may overwhelm beginners; regulatory clampdowns possible. | Might not have as many bleeding‑edge assets/new listings; fees moderate‑not ultra‑low. |
Bullish Exchange trading
Bullish Exchange Fees and Commissions
Here’s a detailed table for Bullish Exchange Maker/Taker Fee Structure based on user level and market type:
| User Level | Maker Fee | Taker Fee: Spot Fiat/Stable Markets (Same Underlying) | Taker Fee: Spot Fiat/Stable Markets (Different Underlying) | Taker Fee: All Other Markets |
|---|---|---|---|---|
| Level 1 | 0% | 0% | 0% | 0% |
| Level 2 | 0% | 0% | 0.01% | 0% |
| Level 3 | 0% | 0% | 0.01% | 0.01% |
| Level 4 | 0% | 0% | 0.01% | 0.015% |
| Level 5 | 0% | 0% | 0.01% | 0.02% |
- Maker Fee: Always 0% for all levels and markets.
- Taker Fee: Varies by user level and market type.
- Spot markets with the same underlying have lower fees compared to different underlying or other markets.
The payment methods on Bullish
The exchange accepts both Crypto deposits and withdrawals as well as fiat USD and EUR transactions. For fiat funding methods, we support SWIFT, SEPA, and CBIT. Bullish supports the following fiat payment methods:
- Bank Wire
- CUBIX (withdrawal only)
- SWIFT
- SEPA
- CBIT
There\’s a $30 fee for wire withdrawals, but all deposits and CUBIX withdrawals are free.
Digital Assets on Bullish
In this Bullish rating, we want to highlight that this Exchange has spot trading available in USD, EUR, RLUSD (Ripple USD), PYUSD (PayPal USD), USDC, USDT, BTC, XRP, ETH pairs. Some of the most popular cryptocurrencies listed on Bullish:
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Solana (SOL)
- Aave (AAVE)
- Chainlink (LINK)
- Curve DAO Token (CRV)
- Sushiswap (SUSHI)
- Uniswap (UNI)
Bullish Futures Market
The exchange offers an advanced market experience. Users can engage in leveraged trading (up to 1:7) in 28 crypto/USDC trading pairs. Cryptocurrencies available for margin trading on the Bullish exchange are:
- BTC
- ETH
- CD20 index
- AVAX
- XLM
- LINK
- NEAR
- XRP
- ADA
- UNI
- OP
- BCH
Bullish App and Platform
Unfortunately, the Bullish exchange does not yet have a mobile application, meaning users are confined to web-based trading. However, the platform does have a fully responsive web interface.
This interface lets users seamlessly navigate the trading platform to monitor the markets, place orders, and manage their accounts from their mobile devices.
While a mobile application would be even more convenient, the platform does still offer dependable web-based interface acessibility on any device.
Bullish Exchange Trading Volume
The Bullish CoinGecko chart shows that trading volume has been increasing steadily over the past 3 months, increasing the confidence of market participants. Though there were a series of dips in the month of August, the exchange saw strong volume increases towards the end of September, and the exchange volume for the quarter finished above 2 billion dollars.
This type of convergence and divergence of trading volume suggests that there is a strong base of buyers. Overall, market participants are likely to be bullish for the fourth quarter of the year.
Security, Regulation, and Compliance
Security
- Works on a full-reserve model: customer assets are held at a 1:1 ratio and are not lent out or used for proprietary trading.
- Custody architecture incorporates segregated omnibus wallets, offline key isolation, multi-layer hardware and/or software shields.
- Implements KYC and AML transaction supervision, as well as mandatory two-factor authentication (2FA).
- Has undergone annual third-party audits and reconciliations to verify asset backing and transparency.
Regulation & Licensing
- Primary regulator: the Gibraltar Financial Services Commission (GFSC) under a DLT licence (FSC1038FSA) in Gibraltar.
- Also holds regulatory approvals in the U.S. (via a BitLicense & Money Transmission License from the New York State Department of Financial Services) as of September 2025.
- Additional regulated or registered jurisdictions include Germany, Hong Kong, and others indicative of a multi-jurisdictional compliance posture.
Compliance & Market Infrastructure
- Takes the initiative in constructing regulated market infrastructure: collaborates with Gibraltar authorities & GFSC to design world’s first regulatory blueprint for the clearing and settlement of virtual assets.
- During the onboarding stage, KYC and KYB processes are compulsory; enhanced due diligence for institutional and high-volume accounts.
- As disclosed on financial record and audit regulation, being part of a listed group entails meeting compliance obligations and audit visibility.
Available Digital Assets on Bullish
Key Features of Bullish Exchange
Enough liquidity owing to the hybrid order-book model
liquidity is generated via the combination of a central-limit order book (CLOB) and a proprietary automated market maker (AMM) engine.
Within the spot market, spread is almost zero and the fees are exceedingly low
There are no maker fees in a huge number of instances, while there are taker fees in the range of 0%-0.03% (depending on the tier and market group).
Enhanced margin and derivatives capabilities
Repay, auto-borrow and cross-asset collateral, and perpetuals, options and futures are offered.
Account structure for institutions
Designed for professional entities. There are multiple trading accounts with segregated balances and permissions under a single entity.
Strong asset protection and full-reserve custody
Customer assets are stored on a 1:1 basis and are separated from those of Bullish, with daily reconciliations.
System with robust security
Operations, hardware and software are guarded with multi-layer protection, and MFA, a bug bounty program, and offline key isolation is mandatory.
API Support is of institutional quality
For algorithmic trading, there are REST and FIX APIs, alongside WebSocket market and privates data feeds.
Working under compliance
There are audits on the financials, alongside KYC/KYB & AML controls on licensed entities like the Gibraltar Financial Services Commission.
The system is tailored for capital efficiency
Traders can employ a variety of assets due to the presence of portfolio margining, and rest limit orders which are used as collateral.
Countries the Bullish Exchange does not Serve
The platform does not provide services to users located in China, Japan, Israel, Canada, the Russian Federation, and other sanctioned jurisdictions, such as Iran and North Korea. Countries the Bullish Exchange Blacklists: China Japan Israel Canada Russian Federation, United Kingdom (Restricted to professional investors only) Iran North Korea Myanmar
Pros and Cons of Bullish Exchange
| Pros | Cons |
|---|---|
| Zero maker fees for many spot trades — very competitive cost structure. | Limited selection of cryptocurrencies compared to large exchanges — only about 50 + assets noted. |
| Deep liquidity and tight spreads via institutional‑grade order book & hybrid model. | Derivatives trading (futures/options) has restrictions: e.g., settlement solely in USDC and limited leverage. |
| Strong security and full‑reserve model: customer assets claimed to be held 1:1, audited, with segregated custody. | Customer support & user‑experience still evolving; fewer beginner tools, fewer fiat on‑ramps in some regions. |
| Regulated in multiple jurisdictions and building institutional infrastructure. | Not available (or fully available) in all major markets/regions yet. |
| Advanced API access & professional trading features (REST/FIX, algorithmic tools) for experienced traders. | Because it focuses on institutional/advanced traders, it may be less suitable or intuitive for casual/retail users. |
Conclusion
Bullish Exchange is a brand new and abiding cryptocurrency platform mostly catering the needs of institutions and sophisticated traders. Due to the full-reserve custody model plus the dedicated accounts and security infrastructure the company is able to maintain transparency along with the asset safety.
The hybrid trading enging guarantees liquidity along with competitive fees. With the availability of advanced derivatives and margin trading along with trading via the API, professional users are well taken care of.
Low cryptocurrencies on offer along with a high level of sophistication in trading are a reverse to retail traders. All in all Bullis is an exchange that is secure and efficient with recent features for traders, and hence it is Bullish’s versatility in crypto trading that surely makes it the primary choice for traders.
FAQ
What is Bullish Exchange?
Bullish Exchange is a regulated cryptocurrency trading platform launched in 2021, designed primarily for institutional and advanced traders. It supports spot trading, derivatives, and uses a “full reserve” model where customer assets are held 1:1 and segregated from the company’s own funds.
Which countries and jurisdictions does Bullish support?
The exchange operates in 50+ jurisdictions, primarily in Asia‑Pacific, Europe, Africa, and Latin America. Availability and specific product access vary by region.
What trading products does Bullish offer?
Bullish offers spot trading (major crypto pairs), margin/borrowing, perpetual futures and dated futures for eligible users.
