CEX Review

This review concerns CEX.io, an online exchange platform that offers services regarding cryptocurrencies. The information that you will get from this article will help you choose the best option available to you as a trader.

CEX.io review printed screen

The investigation contains personal take on the online business, with pros, cons and concluding remarks serving as a general remark on the exchange.

About the Exchange


Based in London, UK, CEX.io is one of the regulated companies that offer cryptocurrencies for traders though instant and margin trading functions. The business offers its services in most countries in the world, with accepted currencies being bitcoins, Ethereum, Bitcoin Cash (BCH), ZEC, DASH, USD, EUR, and RUB, as shown in the homepage of the platform.

The company offers web and mobile phone platforms, with both iOS and Android apps available for free download. CEX.io holds several certifications of trade, them being Incorporation, FinCEN registration, PCI DSS Compliant and ICO certificate of registration.

Registration and Verification


Since company follows KYC (know your customer) and AML (anti-money laundering) policies, apart from email and password, you have to fulfill full verification requirements to be able to trade at CEX.io. The list of needed details from you can be found below.

Cex.io review registration and verification

The required documents for the verification process to end successfully are scanned ID or passport and proof of address, much like what Coinbase and Bitfinex ask for as well. All deposit methods need to be verified as well, taking small amounts form credit cards or bank accounts for the procedure to be finalized.

Regional Availability


The service is available globally, with the only exception being 26 US states, in which the company failed to gain government-issued licenses. Several deposit options are also limited by regions that can use them. Most African and Arab countries would find funding bank transfers and credit cards not available for them.

Deposit/Withdrawal Methods and Fees


At Cex.io, you can fund your account using credit/debit cards, bank transfers, and CryptoCapital. All of the methods require verification to be completed in order for them to be available. The fees stand at 3.5% + $0.25 for bank cards, while bank transfers and CryptoCapital are free for deposits.

Withdrawals using bank transfers would cost you $50 of flat rate, Visa cards $3.80, MasterCard 1.2% + $3.80 and CryptoCapital 1% of the transaction value.

You also have trade fees, organized by maker/taker orders. The cost can range from 0.1% to 0.2%, depending on your monthly volume traded. The fees are smaller than those at Coinbase and Coinmama in terms of credit cards, as both of the exchanges have over 3% fees on the bank card deposits/withdrawals.

Security


Trading at CEX.io is protected through two-factor authentication (2FA) only much like Bleutrade. Since services are available to verified users only, the issue is of smaller magnitude than at Bleutrade. Still, we deem the lack of security functions as something that you should keep in mind when trading at CEX.io.

Pros and Cons


Pros

+ low credit card fees

+ margin trading available for investment

+ globally available trade platform

Cons

- lack of sufficient security tools

- traders have to go through a full verification procedure

Concluding Remarks


Being a regulated exchange, CEX.io would suit starters better than advanced users, even though it offers margin trading. Instant funding and withdrawals are available through cheap credit cards and you do have a choice when it comes to crypto and fiat trade orders.