Huobi Pro Review
- Excellent trading platform
- Phenomenal customer support
- Highly secure crypto exchange
- Very high liquidity
- Fiat currencies are not supported on main exchange platform
- Not regulated
- Trading fees are nothing special
Huobi is one of the world’s leading cryptocurrency exchanges and is use and loved by people from all around the world. The exchange is owned and operated by Huobi Global, who established the crypto exchange back in 2013 when the team behind Huobi realized the potential of blockchain technology. Since their establishment, Huobi has grown tremendously and now has head offices in the United States, Japan, Korea, and Hong Kong, with their headquarters located in Singapore. As well, the exchange has millions of active traders across 130 countries around the globe.
The core values of the Huobi exchange are integrity, innovation, and cooperation. With these core values, Huobi has been transforming the crypto exchange ecosystem and has created a world-class exchange. Huobi has yet to become regulated, but remains as one of the safest, fairest and most secure cryptocurrency exchanges available. They attract and accommodate both beginner, advanced, retail, and institutional traders to their platform. All in all, Huobi appears to be an excellent cryptocurrency exchange. But are they really? Let’s find out in the following review and discover if the Huobi exchange is right for you.
Huobi features not one but two proprietary trading platforms. Both platforms are essentially the same, only one is web-based and one is available for download on Windows, Mac, iOS, and Android platforms. The trading platform is very powerful and highly sophisticated, supporting numerous trading features for every type of trader. The charting package is phenomenal as the trading charts are provided by TradingView. Traders have access to an extensive array of technical indicators, variety of chart types, time frames, and drawing and analysis tools. As for the rest of the platform, it is intuitively designed and lightning fast making for a seamless trading experience. Traders can place three different order types; Market orders, Limit orders, and Stop Limit orders. As well, traders can participate in margin trading with Bitcoin (BTC) and Litecoin (LTC) with 5X leverage. All in all, the trading platform featured by Huobi is quite outstanding and one of the best we have seen.
Huobi deals strictly in the cryptocurrency markets rather than traditional markets that include forex, stocks, commodities, etc. As well, Huobi doesn’t even support fiat currencies on their standard trading platform. Traders wishing to buy cryptocurrency with fiat currency must use Huobi’s OTC trading platform which is separate from the main platform. Therefore, the markets supported by Huobi’s primary platform are strictly crypto markets and include Bitcoin (BTC), Ethereum (ETH) and Tether (USDT). On these crypto markets, traders can buy and sell nearly 200 different cryptocurrencies. This is an extensive array of crypto assets and more are constantly being added.
Fees and Commission
The trading fees imposed on traders are the same for maker and taker orders and are set at 0.2% for standard Huobi traders. VIP traders on the other hand can receive reduced trading fees of up to 50% off and starting from 10% off. These trading fees are neither the lowest nor the highest in the crypto exchange industry and therefore we will say they are reasonable fees, but not competitive. As for deposits and withdrawals, crypto deposits are free and crypto withdrawals incur fees which vary between cryptos. The withdrawal fees are in line with industry standards.
Security and Fairness
The Huobi exchange has invested a great deal of money, time, and effort into the security of their exchange, and is now one of the safest cryptocurrency exchanges around. Huobi has utilized an advanced distributed system that’s built to protect against DDOS attacks and other threats. As well, over 98% of the crypto funds are held offline in secure multi-signature cold storage wallets.User accounts are protected by the latest security practices such as 2 factor authentication, SSL protocol encryption, and whitelisted IP addresses. The Huobi exchange has been securely operating for nearly 5 years now and has built up an excellent reputation.
The support provided by Huobi is very good and has an excellent track record of quick and helpful responses. Users can contact support representatives 24 hours a day, 7 days a week through a variety of methods. For instance, support can be reached through live chat, email support ticket, telephone, or via social media. Additional methods of support include an extensive FAQ section where traders can find the answer to nearly every question they might have.
Overall, the Huobi cryptocurrency exchange is top of the line and is clearly a world renowned crypto exchange. The trading platform and services they provide are truly phenomenal. Both experienced and beginner traders will appreciate their services, however, they are more geared towards advanced traders. The number of tradeable crypto assets is extensive, and the level of security and customer service is some of the best in the industry. All in all, we would highly recommend trading cryptocurrencies with Huobi.
The following are the common questions that customers inquired about Huobi.
Is Huobi regulated?
No, it is not regulated.
Is Huobi a scam?
No, Huobi is a legit crypto exchange that’s trusted by traders all around the world.
Where is Huobi based?
Huobi’s headquarters are located in Singapore, but they have head offices in the United States, Japan, Korea, and Hong Kong.