- Exceptional trading platforms
- Cryptos held in cold storage
- Regulated cryptocurrency exchange
- Supports margin trading and futures trading
- Limited variety of cryptocurrencies supported
- Higher trading fees
Quoinex is a beautifully designed and feature rich cryptocurrency exchange that was launched back in 2014 and has become very popular among Asian countries since. The Quoinex exchange is owned and operated by Quoine Co Ltd., who is made up of a competent team of ex-banking professionals. Quoinex is headquartered in Japan with their location at 2-2-1 Kyobashi, Chuou-ku, TokyoJapan. The exchange also has head offices located in Singapore and Vietnam and accepts traders from all over the world while offering their services in English and Japanese. While Quoinex is an international exchange, they primarily serve the Asian markets as they are based there and are regulated by the Japanese Financial Services Agency (JFSA).As a cryptocurrency exchange, being regulated by a competent regulatory agency is no easy feat and is a very strong aspect of the Quoinex exchange as it shows their competence and reliability. However, even though the Quoinex is regulated, how do you know if they’re the right exchange for you? Well, in the following review we’ll take a deep dive into all aspects that make up this exchange and discover whether Quoinex can really be trusted and the quality of their services.
The trading platform featured by Quoinex is truly phenomenal. It’s a proprietary web-based trading platform which can be accessed from nearly every computer and web browser. The platform accomodates the needs of both beginner and experienced cryptocurrency traders as it utilizes two different trading interfaces for each. Both interfaces are beautifully designed with an intuitive look and feel. The basic exchange interface is very simple and easy to use but also introduces traders to some advanced analysis and charting features. The charts, market depth, and order windows are all found on the same page and are placed in exactly the right spots.
As for the advanced trading platform, it’s absolutely packed with features for experienced traders to utilize. The charting package is far more sophisticated and features over 70 technical indicators, various drawing and analysis tools, chart types and more. The order system is also more advanced by allowing traders to place limit, market, stop, and trailing stop orders. Even more, traders can trade on margin or participate in trading Bitcoin (BTC) futures. The platform ties all these highly advanced aspects and features into one intuitively designed interface. All in all, the platform provided by Quoinex is one of the best trading platforms we have ever seen.
Quoinex is a cryptocurrency exchange and thus offers trading in the crypto markets. However, Quoinex differs from a lot of other cryptocurrency exchanges by focusing on fiat to crypto trading pairs rather than crypto to crypto trading pairs. For instance, the fiat currencies in which can be exchanged for cryptocurrencies on their platform include USD, JPY, EUR, AUD, SGD, HKD, IDR and PHP. This is far more fiat currency selection than any other crypto exchanges we have seen. While Quoinex does support many fiat currencies, they can only be exchanged in the following crypto markets; Bitcoin (BTC), Ethereum (ETH), and Qash (QASH) markets. Once any of these mention cryptocurrencies are purchased, traders can trade in the crypto to crypto markets which include; Bitcoin (BTC), Ethereum(ETH), Bitcoin Cash (BCH), Quantum (QTUM), Qash (QASH), Dash (DASH), and Neo(NEO). The cryptocurrencies available are not extensive, but more than enough for many traders.
Fees and Commission
The one downside of the Quoinex exchange are their fees and commission. Compared with most other cryptocurrency exchanges, Quoinex’s fees are higher. However, the exchange is also one of the most secure and offers the most fiat currency trading pairs. So, this is a tradeoff to having these aspects. The trading fee applied on all trades is 0.25% and is applied to the cryptocurrency being traded rather than the fiat currency. Another fee which applies to some traders is the margin trading fee of 5%. As for deposit and withdrawal fees, there are no fees for crypto deposits and crypto withdrawal fees vary between cryptocurrencies. As for fiat currency deposit and withdrawal info, it is not stated on their website.
Security and Fairness
The Quoinex exchange is one of the safest, most secure, and fairest cryptocurrency exchanges on the market as it is regulated by the Japanese Financial Services Agency (JFSA). Also, Quoinex utilizes SSL encryption protocols, stores the majority of user crypto funds in cold storage, and employs two factor authentication techniques and confirmation emails at every level. Also, users can further secure accounts by whitelisting IP addresses among other things. As for the exchanges fairness, every trader is treated equally as there is only one type of account.
The customer support provided by Quoinex is phenomenal. Traders can receive support via two main methods, through a live chat powered by Zendesk, and through an email support ticket system. Both methods have an exceptional level of support and are very quick to respond. Other methods of contacting support representatives include contact via social media including including Facebook, Twitter, Telegram, Steemit, YouTube, Reddit, and LinkedIn. Also, all of these support methods are available 24/7.
Overall, the Quoinex cryptocurrency exchange is a very good choice for both experienced and beginner traders. The platforms offered are very easy to use and feature rich, and the number of fiat currencies supported is great. Also, the exchange has top of the line security and reputation and the customer support is exceptional. We highly recommend trading with the Quoinex cryptocurrency exchange.
The following are the common questions that customers inquired about Quoinex.
Is Quoinex regulated?
Yes, it is regulated by the Japanese Financial Services Agency (JFSA).
Is Quoinex a scam?
No, Quoinex is a legit exchange that is trusted and used by many.
Where is Quoinex based?
Quoinex is based out of Japan at 2-2-1 Kyobashi, Chuou-ku, Tokyo Japan.