XBrick Review
- Easy to use and sophisticated trading platform
- Decent array of cryptocurrency assets
- Great security features
- Mobile trading supported
- Not regulated and very new exchange
- Limited customer support services
- No fiat currency supported yet
XBrick is a global cryptocurrency exchange that was only recently launched in 2017. The exchange is targeted to both new and experienced cryptocurrency users and allows them buy, sell, and exchange more than 10 different cryptocurrencies. XBrick was founded by a team of experienced professionals in the financial industry with a background ASX listed entities, Goldman Sachs, and other reputable organizations. XBrick accepts and serves crypto enthusiasts from around the world and provides their services in both English and Chinese. The exchange is based in Australia with their headquarters located at Level 18, 111 Pacific Highway, North Sydney, 2060, New South Wales, Australia. The primary goal and differentiating factor of the XBrick cryptocurrency exchange is to be operationally sound, free from the deficiencies that other crypto exchanges fall victim to. The exchange claims to have enhanced security, deep liquidity and trading market depth, sophisticated trading systems, high functioning order matching engines, advanced functionality, and an excellent user experience. This is a lot to promise for a new cryptocurrency exchange, so do they live up to the hype? Find out in the following review where we’ll analyze all aspects of this lucrative new cryptocurrency exchange and see if they are right for you and how they compare to the competition.
Trading Platform
The XBrick crypto exchange features their very own proprietary web-based trading platform that has been built from the ground by their sophisticated technical team. The platform is compatible with most all web browsers and can be accessed from anywhere in the world. Additionally, the XBrick trading platform is available on both iOS and Android mobile devices for free download from the Apple App Store and the Google Play Store. The trading platform’s user interface is well designed and easy to understand and navigate. It incorporates various trading features including advanced order windows, market depth, trade history, and an advanced charting package with charts provided by TradingView. Traders can conduct in-depth technical analysis with an array of drawing and analysis tools, chart types, time frames, and over 50 technical indicators. The platforms underlying technology is also very advanced and features an atomic multi-cast and flowline matching engine technology for lightning fast order execution. The exchange can handle over 2 million orders per second and operates non stop 24/7. All in all, the trading platform by XBrick appears to be quite sophisticated and looks and feels good.
Exchange Markets
XBrick is a versatile cryptocurrency exchange that’s striving to offer a wide array of cryptocurrency assets to trade. Currently the exchange supports the trading of over 20 cryptocurrencies and are continuously adding support for more. The crypto markets in which these coins can be traded include Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). XBrick plans to support fiat currency trading pairs in the future but have not yet implemented this.
Fees and Commission
XBrick features a dynamic fee structure which is based off the account status of each individual trader. Traders acquire points for trading with the XBrick exchange and can receive points for further verifying their account, setting up additional security measures like two factor authentication, depositing funds, and they can earn points based off their trading volume. The more points a trader receives the lower the trading fees imposed on them. There are 6 different account levels to be reached, with the level 6 account level being reached at 800,000 points. The account levels and point details can be found on the XBrick website in the fees section. XBrick charges both maker and taker fees that are the same for all crypto pairs. Level 1 (standard) accounts incur maker fees of 0.05% and taker fees of 0.1%. Level 6 (top) accounts incur maker fees of 0.05% and taker fees of 0.05%. All in all, these trading fees are extremely low compared with much of the competition.
Security and Fairness
The XBrick cryptocurrency exchange is still a very new cryptocurrency exchange and has yet to build up a reputable reputation. Also, XBrick is not regulated and does not have very many active users as of yet. Therefore, it’s hard to say how safe, secure, and reputable XBrick really is. However, XBrick claims to be highly advanced and secure as they store the majority of user funds in safe and secure cold storage wallets which keep them safe from hacking attempts. The exchange also employs advanced SSL encryption to protect sensitive user information and uses GSLB distributed cluster servers to provide 24/7 secure trading. Also, users can further protect their accounts with two factor authentication techniques for logging in and withdrawing funds.
Support
The customer support provided by XBrick is somewhat limited as they only feature a small FAQ page with answers to a handful of questions. Support representatives can be reached via a support ticket system or email. The support received is generally quick to respond and helpful with their responses. Support representatives can also be reached via Facebook, Telegram, Twitter, and LinkedIn. At this time the exchange does not support live chat or telephone support services.
Conclusion
Overall, the XBrick cryptocurrency exchange is a sophisticated exchange service with lots of potential. However, the exchange is still very new and needs to work on certain aspects as it can be a little clunky from time to time and have not unrolled all of their promised features. XBrick features a decent array of tradeable crypto assets and the trading platform is well designed and advanced. XBrick accomodates the needs of both beginner and experienced cryptocurrency traders and appears to be a trusting and viable exchange thus far.
XBrick Q&A
The following are the common questions that customers inquired about XBrick.
Is XBrick regulated?
No, it is not regulated.
Is XBrick a scam?
No, XBrick is a legit crypto exchange but has not proven themselves to be highly trusted and secure just yet.
Where is XBrick based?
XBrick is based in Australia at Level 18, 111 Pacific Highway, North Sydney, 2060, New South Wales, Australia.
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