CEX IO exchange review 2023 Cost, pros & cons

CEX.io Review

This implies that the individual who crafted the order (i.e. the maker) pays a low fee when compared to the individual who fulfills the order (i.e. taker). Another great thing about the platform is that it accepts a variety of fiat currencies. This makes CEX.io useful for individuals from different countries across the globe. For instance, you can make payments in the United States dollar, Euro, Pound Sterling, and Ruble. The platform also accepts different methods of payment when it comes to funding the account. Lastly, the exchange also claims to have a self-regulated reserve fund set to pay back users in the case of an advance event.

  • For starters, the “Everyone” tier has pretty much all the options for a person that is just ventured into trading and is new to the space.
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  • We have helped millions of people safely buy cryptocurrencies over the past five years.
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This is evenly placed between low-volume beginners and very high-volume expert traders. Established in 2013, CEX.IO started as a bitcoin mining company that shifted its focus to crypto exchange https://www.tokenexus.com/ in the coming years. Accounts can be secured with Two Factor Authentication (‘2FA’). The company has been in operation for nearly 7 years, which is a long time by crypto exchange standards.

Get trouble-free crypto-backed loans

Using other payment options attracts a fee, which you must confirm since they vary with the provider. On top of that, expect currency conversion fees and inactivity charges for accounts that remain inactive for over 12 months. One of the unique aspects of CEX.IO is its multi-functional approach to cryptocurrency trading.

CEX.io Review

We expect them to keep providing the same level of security and protection in the future. A few other payment methods are also available, but they are not applicable to Australian users. Make sure to keep the minimum deposit amount in mind when making a deposit through any available https://www.tokenexus.com/cex-review/ method. To get a loan on CEX.io, you simply have to provide collateral, consider the interest rate, and have the money transferred to your preferred payment mode. As per CEX.io officials, the yearly interest rate on loans is around 10% which is comparatively reasonable.

Customer support

CEX.IO is a multinational crypto exchange and broker that was founded in 2013. It was established by Oleksandr Lutskevych and was one of the first platforms that supported fiat to crypto traders. However, you’ll be charged higher fees if you buy a cryptocurrency using its quick and simple ‘Instant Buy’ service instead (which isn’t as competitive as other UK options that I’ve reviewed). BC Bitcoin is a professional bespoke UK based Cryptocurrency brokerage. Their traders have over 30 years of combined trading experience and use their experience to purchase the maximum amount of coins for your money.

How much does CEX.IO charge for withdrawal?

Now you can deposit USD with no commission and withdraw with only a 1% fee at CEX.IO. In this guide, we will describe how to effortlessly transfer funds between your CEX.IO and Epay accounts.

Check out the section on ‘Limits’ in this article for more information. CEX.IO supports a wide range of payment methods for trading on its platform depending on your country of residence. CEX.IO currently has a 4.6-star rating on Trustpilot (23,000+ reviews), which is a very high rating by crypto exchange standards. It was originally registered in the UK as part of a company called GHash.IO, which offered mining services. Nowadays, CEX.IO also has offices in the US, Gibraltar, Cyprus, and Ukraine.

Cex.io: review of rules and methods of work on the site

The exchange is backed up by over 300 global professionals who ensure you get quality crypto trading services for maximum experience. CEX.IO follows a transparent pricing model by offering a tiered fee structure, where users can receive discounts on fees based on their 30-day trading volume. Based on our analysis, you will incur high maker and taker fees with a low 30-day trading volume. CEX.IO also provides a mobile application for iOS and Android devices, allowing users to trade on the go.

How long does a CEX.IO withdrawal take?

– Withdrawal requests are processed within 24 hours on business days. After payment is processed by our Finance team, it will take some time to reach your bank account (depending on your bank processing rules). You can find more details about possible delays in processing bank transfers in our Help Centre.

With its simple and friendly interface, low fees, and exceptional reviews, CEX.IO is one of the best cryptocurrency exchange platforms for investors in the UK. It is suitable both for beginner and advanced investors, and even has its own payment system for businesses looking to bridge the gap between fiat and cryptocurrency. From the 1-star and 2-star reviews, many users say that CEX.IO’s customer support team is very slow to respond to queries. Others mentioned the very high fees that the company charges, especially for credit and debit card purchases.

Plus, more and more of its users are trying out its KYC-free trading feature too. Newbies to the crypto world will be attracted to the way Bitget allows passive trading through the app. Exchanges and online platforms can often help you do more than buy and sell crypto.

Withdrawal fees can add up to 3% total depending on how the funds are withdrawn. With the brokerage service, total costs will add to 10.9%, which is exceptionally high, even for novice investors. On the other hand, advanced traders, get every buying option that they would want from a highly advanced platform. These options are provided on an easy to use and clean platform.

Margin Trading is also available for high volume traders that qualify for the “business” tier are provided institutional-level services with prime. The firm does not go into detail concerning how it stores user funds, and this is typical of most exchanges. It has stated that the funds are stored in offline cold storage, which is the most secure mechanism. The platform also supports more countries than any other crypto exchange. Based in London, the firm is now looking to integrate security token offerings into its exchange. Security token offerings (‘STOs’) are a new asset class that can be immensely profitable.

You will get quality assistance on a wide range of topics, including account registration, deposit and withdrawal processes, security, and more. You can also reach out to its team via social media handles, including Twitter, Facebook, LinkedIn, and Telegram. CEX.IO is a good crypto exchange platform aimed at an intermediate level that can digest loads of information and use it to make the right trade. The interface can be a tough nut to crack for some, but it is easy to get used to. If you are someone that wants to trade the biggest cryptocurrencies, then the platform will suit you.

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