CEX.IO Review brokerchoices.com/broker-reviews/cex-io-review
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General Overview CEX.IO is a simple and streamlined bitcoin trading platform that provides the highest level of security for its customers. To date, there has not been a single case involving the theft of funds at CEX.IO. They pride themselves in ensuring that user prerogatives are always safeguarded. They also have a smartphone application that is available on both Google Play and AppStore. The aim of our discussion below is to provide an earnest assessment of CEX.IO and determine whether the platform is worth your investment.
Background CEX.IO was created in 2013 as a cloud mining provider called Ghash.io. The latter concluded their operations in 2015 and CEX.IO continued to function as a cryptocurrency exchange service. The company now boasts more than a million users worldwide. Company headquarters are located in London, United Kingdom and they also have an office in New Jersey, United States. The digital currency firm is registered as a Money Service Business within FinCEN (Financial Crimes Enforcement Network) in America. CEX.IO has also obtained a PCI DSS (Level 2) certification, which is an information security classification. Address: 24th floor, One Canada Square, Canary Wharf, E14 5AB, London, United Kingdom Email: webmaster@cex.io
Regulation and Security When it comes to legal compliance, CEX.IO has ironclad protocols in place. In addition to the aforementioned accreditations, CEX.IO is also registered with the ICO (Information Commissioner’s Office) in the United Kingdom. Their registration number is ZA059396.
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Furthermore, internal protocols include the implementation of an AML/KYC policy, an anti-money laundering initiative. CEX.IO has also built potent links with commercial banks and also offer cold storage facilities for cryptocurrencies. While all major countries are authorized to swap cryptocurrencies on the platform, it must be mentioned that CEX.IO does not permit business in a number of countries, most of which are located in Asia and Africa. Of course, even though CEX.IO ensures a safe trading environment, users cannot have any guarantee of success.
Training and Education Perhaps one negative of using CEX.IO is that the exchange does not offer a demo account. There is no option for an anonymous account either. Registration is obligatory if you wish to use their services. However, the website is quite beneficial and has a number of alternatives, including a help center. You can submit all kinds of queries on the page, whether it is about your account, finance or the actual trading. In addition to a user-friendly website, CEX.IO also employs an excellent customer support team. They offer their wise counsel at the earliest and work towards customer enhancement as well. All responses from customer service are detailed and designed to eliminate user confusion.
Products CEX.IO enables users to buy and sell cryptocurrencies 99 percent of countries worldwide. Examples of cryptocurrency that can be traded include Bitcoin, Ethereum and Litecoin. In addition, the exchange also supports regional currencies like the United States Dollar (USD), Great Britain Pound (GBP) and the Euro. As for fees, CEX.IO is certainly one of the most expensive platforms. They charge a mandatory 7 percent fee for direct trading. Also, their fee structure is based on the maker-taker principle. The maker fee is always naught, while the taker fee varies inversely in accordance with the monthly volume. Deposits and withdrawals are typically charged between 1.2 to 5 percent of the actual amount.
Overall Impression
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On the whole, the merits of CEX.IO outweigh the demerits. They are well established and have effective security measures in place. The interface is also simplistic and they offer a high trading volume too. If you are not deterred by the exorbitant fees, then you should try trading cryptocurrency with CEX.IO. Visit broker
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