- Large liquidity pool
- Avoid slippage and long processing times
- Great customer care and support
- Low trading fees
- Only for accredited investors
- Limited selection of crypto assets
- Not for small trades
HiveEx is a global OTC (over the counter) brokerage for the buying and selling of the most popular cryptocurrency assets including Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash. HiveEx works with some of the largest cryptocurrency providers in the world in order to provide the best possible prices on the cryptocurrencies they offer. The HiveEx OTC trading brokerage was just recently established in February of 2018 by the founders of finder.com. HiveEx has their headquarters located at Level 10, 99 York St, Sydney, Australia and also has head offices in the United States, the United Kingdom, the Philippians and Poland. Therefore, HiveEx is an international OTC trading brokerage who accepts traders from all around the world. Unfortunately, the HiveEx OTC trading brokerage is not regulated by any traditional regulatory authorities and are still very new and have yet to build up a reputation. However, the founders of HiveEx also founded Finder.com and one of the co-founders is an award winning entrepreneur. With a history and reputation like this, it’s safe to assume that HiveEx will have the same level of success and reputation. To further shine lite on this new HiveEx OTC trading brokerage, we have conducted an in-depth review into all aspects of this broker and presented this information to you here.
Trading Platform / How to Buy and Sell
The HiveEx OTC cryptocurrency brokerage does not have a trading platform for their users as this is not your traditional trading brokerage or cryptocurrency exchange. HiveEx is an OTC (over the counter) trading brokerage and therefore, all trades are done on the brokerages end rather than online via a public trading platform. In order to use HiveEx’s OTC cryptocurrency services, you must be 18 years or older and qualify as an accredited investor, meaning you must have a gross income of at least $250,000 per year or a net capital of $2.5 million in assets. If these requirements are met, you can sign up by providing the necessary KYC and AML details and the HiveEx team will facilitate your orders. All trades must be a minimum of $10,000 and a maximum of $100 million. The trade transaction will often be settled within the same day at a much better rate than a crypto exchange will give. Therefore, OTC crypto brokers like HiveEx are highly favorable for large cryptocurrency investors.
The HiveEx OTC cryptocurrency trading brokerage deals strictly in the crypto markets and offers the buying and selling of cryptocurrency for fiat currency.
The Cryptocurrencies supported by the HiveEx OTC broker are:
The fiat currencies supported by HiveEx include:
- US Dollars (USD)
- Australian Dollars (AUD)
- Great British Pounds (GBP)
Fees and Commission
The HiveEx OTC broker is much more cost effective than making large trades on a traditional cryptocurrency exchange. Cryptocurrency exchanges will charge their traders fees for deposits and withdrawals on their fiat currency as well as higher trading fees than OTC brokers like HiveEx. The HiveEx OTC broker charges a 0.3 – 1% commission through the spread. The amount of this fee is dependent on the volume of the order and cryptocurrency being bought or sold. All in all, this fee is comparable with other OTC cryptocurrency brokers and they are lower than most crypto exchange fees.
Security and Fairness
Though HiveEx is a relatively new and unregulated cryptocurrency exchange, it is run and operated by a reputable team and founders. Also, HiveEx is licensed and registered with the Australia Financial Intelligence Agency, (AUSTRAC) which is a government agency in charge of monitoring financial transactions to prevent money laundering, organized crime, tax evasion, fraud, and terrorism. With this registration, HiveEx has proven themselves to be a reputable OTC broker that’s compliant with regulatory laws and guidelines. Therefore, it is only a matter of time before HiveEx becomes a regulated OTC crypto brokerage. An important security measure implemented by HiveEx is the way they store their clients cryptocurrency. HiveEx stores 100% of the clients crypto funds offline in cold storage hardware wallets that are kept in secure locations. All in all, HiveEx is a safe, fair, and secure OTC cryptocurrency brokerage that should prove themselves as secure through time.
The customer support provided to HiveEx customers is available 24 hours a day, 7 days a week. The support received is very good and personalized as HiveEx traders are always dealing with a great deal of money (Minimum $10,000). The support methods available include telephone, email, WhatsApp, or another preferred methods of communication decided by you and your support representative. All in all, the customer support is very dedicated to helping their customers and making them feel comfortable with the entire OTC process. Additional methods of support include HiveEx’s FAQ page and blog. However, both of these latter options are rather limited and could use some work.
HiveEx is a new international OTC cryptocurrency brokerage based out of Sydney, Australia. The broker is highly capable of processing very large crypto transactions and is founded by a reputable team of entrepreneurs and financial professionals. The brokerage has low trading fees in comparison with traditional cryptocurrency exchanges and is strictly meant for accredited investors. HiveEx is quickly growing to be a large and reputable OTC crypto broker and large capital investors are using their services. All in all, HiveEx is a viable OTC crypto broker worth considering.
The following are the common questions that customers inquired about HiveEx.
Is HiveEx regulated?
No, but it is registered with the Australia Financial Intelligence Agency, (AUSTRAC).
Is HiveEx a scam?
No, HiveEx is a legit OTC broker backed by a reputable team and company founders.
Where is HiveEx based?
HiveEx is based at at Level 10, 99 York St, Sydney, Australia and have international offices around the world.