- Wide array of cryptocurrency assets
- Excellent user-friendly trading platforms
- Numerous fiat currencies supported
- Good customer support
- Not regulated
- Lower liquidity
EXMO is a rather small cryptocurrency exchange who offers a wide variety of cryptocurrency assets to traders in the UK and from all over the world. The exchange was founded in 2013 and is based out of the UK with their headquarters located at 49 Station Road, Polegate, England. EXMO is not yet regulated but offers safe and secure services to their traders and has done so for 5 years now. EXMO may not be the largest cryptocurrency exchange in terms of volume, but they offer a wide array of cryptocurrencies to trade on their simple and easy to use trading interface. The exchange markets themselves towards retail traders rather than institutional clients and accommodates both experienced and beginner traders.
The main focus and goal of the EXMO exchange is to provide traders with a quick and easy way to buy and sell Bitcoin and other popular cryptocurrencies. EXMO is now trusted by over 1 million cryptocurrency traders in more than 200 countries and continues to grow every day. However, there are so many cryptocurrency exchanges out there, so how do you know if the EXMO exchange is right for you? Well, in the following review we delve deep into the aspects that make up this cryptocurrency exchange and see what sets EXMO apart from the competition and whether or not they can be trusted.
Buying and selling cryptocurrency is so easy as the EXMO exchange platform is intuitively designed and easy to use. Therefore, it’s the ideal platform for beginners, but also accommodates more experienced traders as well. The platform is broken up into two interfaces; the Exchange Mode, and the Trades Mode. The Exchange Mode is perfect for users who simply want to buy or sell cryptocurrency but are not interested in or familiar with trading and timing the markets. This platform provides beginner traders with the simplest of interfaces, so they can easily buy some cryptocurrency with the click of a button and hold it until they’re ready to sell.
The more advanced Trades Mode interface provides intermediate to experienced traders with the tools they need to successfully analyze prices and make trades accordingly. Here, traders have access to sophisticated charts, complete with technical indicators, different chart types, and an array of drawing and analysis tools. Also, traders can view the order books and trading history for a deeper understanding. This Trades Mode interface is still not as advanced as many other cryptocurrency exchanges but does the trick for most average retail traders. Another point worth mentioning is that both these trading interfaces are web-based and fully optimized and compatible with Apple and Android mobile smart devices.
EXMO offers their clients a wide variety of popular cryptocurrency assets to trade and supports four different fiat currencies for deposits. These fiat currencies include US Dollars (USD), Euros (EUR), Ukrainian Hryvnias (UAH), and Russian Rubles (RUB). All of these fiat currencies can be used in exchange for Bitcoin (BTC) and Ethereum (ETH), and some can be used for the other cryptocurrencies as well. See below, a list of the cryptocurrency assets available to trade.
• Bitcoin (BTC)
• Litecoin (LTC)
• Dogecoin (DOGE)
• Dash (DASH)
• Ethereum (ETH)
• Waves (WAVES)
• Zcash (ZEC)
• Tether (USDT)
• Monero (XMR)
• Ripple (XRP)
• KickCoin (KICK)
• Ethereum Classic (ETC)
• Bitcoin Cash (BCH)
Fees and commission
EXMO has very competitive trading fees which are the same for all traders, no matter how much their trading volume is. The trading fee imposed on all cryptocurrency trades is 0.20%, which is fairly low and competitive compared to much of the competition. However, traders also incur other fees such as deposit fees for fiat currency deposits and withdrawal fees on cryptocurrency and fiat currency withdrawals.
The fiat currency deposit and withdrawal fees vary from currency to currency and method to method, but range anywhere from 0% – 6%. All fees are very transparent and outlined clearly on the EXMO website.
As for cryptocurrency withdrawal fees, they also vary depending on the cryptocurrency being withdrawn. We’ll state the withdrawal fees of the 4 most common cryptos below.
• Bitcoin = 0.0005 BTC
• Litecoin = 0.01 LTC
• Ethereum = 0.01 ETH
• Bitcoin Cash = 0.001 BCH
Security and fairness
EXMO is not yet regulated but remains a safe, secure, and transparent cryptocurrency exchange. The exchange has been in operation since 2013 and has never experienced any major hacks or loss of funds. Users data and information is kept secure through SSL encrypted data transmission, and user funds are held in segregated bank accounts. As well, traders have the ability to secure their accounts with two factor authentication which can be required upon logging in and making withdrawals. As for the fairness of the EXMO exchange, they are very fair and transparent. EXMO states all the associated fees on the website and treats every single trader the same by charging the same fee amount no matter what their trading volume is. As well, the exchange does their best to educate their clients on best practices for keeping their accounts secure.
EXMO offers their clients 24/7 customer support which is offered entirely online either through email, support tickets via Zendesk, or online live chat. The live chat option is hit or miss, as sometimes it’s available and sometimes it’s not. The other support methods are more recommended as the support received is more professional and informative. In addition to these methods of support, traders can also receive support via the websites informative knowledgebase.
EXMO is a very user-friendly cryptocurrency exchange that accommodates both beginner and intermediate to advanced traders. The exchange supports a number of fiat currency pairs and a wide array of cryptocurrency assets. The trading platforms available are intuitively designed accommodate the needs of all levels of traders. EXMO is also a fairly safe and secure exchange as they have been in business for nearly 5 years and have held up an excellent reputation. EXMO offers traders competitive fees and good customer support a well. All in all, EXMO is a viable option as a preferred cryptocurrency exchange.
The following are the common questions that customers inquired about EXMO.
Is EXMO regulated?
No, it is no regulated.
Is EXMO a scam?
No, EXMO is a legit cryptocurrency exchange with a great reputation and years of experience.
Where is EXMO based?
EXMO is based at 49 Station Road, Polegate, England.