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BROKER REVIEW

CEX.IO

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September 21, 2021 | 

Jesus Guzman |  0 Comments | 

2781 Views

CEX.IO REVIEW | PROS & CONS YOU NEED TO KNOW

Our Pick

Mimimum Deposit

$100

Crypto

currency
currency
currency
currency
currency

Regulation

country

Our Score

9

Crypto investing is a risky venture, and nothing beats the need for a reputable website. Of all the websites, CEX.io is one of the oldest trading platforms that has always offered a favourable trading environment.

As a trading platform and brokerage, the site allows for the buying and selling of major cryptocurrencies such as Ethereum, Bitcoin and many others. The site also invests in customer service and numerous resources for users.

You can find a detailed review of CEX.io here.

CEX.io Services you need to know

CEX.io is a multi-purpose platform that allows users to buy and trade cryptocurrencies and offer brokerage services.

The brokerage services allow users to buy coins on the platform at a high price. Buying coins through the website is quite easy and does not require any prior training. Otherwise, it is quite expensive compared to buying from an external broker.

CEX.io also offers a dedicated trading platform where users can do margin trading.

As a broker, the website offers a variety of trade order types, trading tools and analytics for cryptocurrency trading. In addition, traders can improve their position as they gain experience, which means more access to trading and more risks.

How Deposit and Withdrawal works on CEX IO

CEX.io offers several deposit and withdrawal options. Depending on the trader's account, higher deposit and withdrawal limits are also possible. The basic account comes with more restrictions compared to the corporate account and the verified account.

The platform supports credit and debit cards, bank transfers, cryptocurrencies and Neteller.

The Security of the CEX io Platform

CEX.io is a secure platform as it is regulated in the US by FinCEN as a money transaction service provider. In the UK, it is regulated by the Information Commissioner's Office. The site also offers a detailed verification process that eliminates any form of crooks that might use the site.

CEX.io has other security features such as two-factor authentication when logging in. In addition, users' funds are kept in cold storage so that they are protected from internet crashes and hacker attacks.

CEX.io Fees

The platform charges fees for transactions such as deposits/withdrawals and margin trading fees. These higher fees were the most important change because in most cases traders are not aware of their existence.

The fees incurred also depend on the account a trader holds, the currency and the payment method. There are withdrawal fees of up to 3% and a $25 service fee. The costs depend on the market model, so the creator of the transaction pays more than the recipient.

CEX io Customer Support Service

CEX.io offers its users reliable customer support. There is a detailed section on the website FAQ that addresses most of the major customer concerns. For more advanced problems, users can contact customer support by email, depending on the nature of the problem.

There is a dedicated email address for both business enquiries and account and cardholder questions.

Advantages and Disadvantages of Trading with CEX.io

CEX.io offers some advantages for traders, such as reliable customer support. The website is easy to understand even for beginners. It allows exchanges in different currencies and multiple trading pairs so that several users from different countries can trade.

The website also supports buying currencies through the platform, although this is a little expensive. The account is also safe as it is registered with various regulatory bodies.

There are also some drawbacks, such as a limited number of cryptocurrencies you can trade. It does not have a wallet function and therefore does not support other popular payment options such as PayPal and Skrill. And finally, the customer has to contribute to security himself by creating a strong password, for example.

Verification levels on CEX io

CEX.io offers different account levels, with different conditions for each level. The higher the account, the higher the withdrawal and transaction limits.

The basic/standard account mainly allows fiat deposits with credit and debit cards. It allows limits of $1000 daily deposits and $3,000 monthly transactions. To obtain higher limits, the user must have a verified account.

The company requires you to provide all necessary personal information for verification. This includes a government-issued ID, completed personal information forms and addresses. The user must then attach a scanned photo.

All documents must be valid, otherwise, the process remains invalid and the user must start the process again.

A verified account brings several advantages. It is the only way to withdraw fiat currency. It also allows for multiple withdrawal and deposit options.

CEX.io Review Conclusion

Those looking for a good trading platform are better off with CEX.io. It has a user-friendly interface that is easy to use and navigate. It also offers excellent customer support in the form of FAQs and emails. With all these benefits, CEX.io is a great platform for both beginners and professional traders.

With all the knowledge about the platform, the trader can make an informed decision if it is the right one.

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