Category: Forex Trading

Additionally, we also compare these fees with industry standards to give a thorough perspective on each exchange’s affordability. Our unique methodology provides a clear view of fee structures and how they benefit traders of all levels. In our review of spot fees, we examine spot fees across three distinct tiers, focusing on the fees for different trading volumes. 📉 Derivatives trading fees start at 0.02% for both makers and takers.

How Bitfinex Trading Options Compare Against Other Brokers

The tool automatically creates multiple limit orders across a user-defined price range while giving traders control over the diversity and distribution of the orders. It’s a win-win situation because lenders who provide the necessary liquidity for these trades receive interest on their lent funds. If you build custom strategies, you can test them in a simulated trading environment to see how they’d fare in the real market before deploying them. These bots use algorithms and user-defined parameters to analyze historical data, help traders make data-driven sections, reduce manual effort, and potentially maximize profits.

Bitfinex Deposit Options

The Bitfinex team did resolve and answer our queries, but the email support from Bitfinex was overall average compared to other brokers we have tested. In addition, we tested Bitfinex support services in various countries and languages and found that Bitfinex were able to effectively resolve our customer issues. As part of our Bitfinex review, we review customer service options, response times and problem resolution effectiveness on the Bitfinex trading platform.

If after reading this Bitfinex review, Bitfinex does not fulfill your needs check out these Bitfinex Alternatives.

💰 Maker/Taker fees start at 0.1%/0.2%, below the industry average, with discounts for high-volume traders and token holders. 💳 Direct fiat deposits and withdrawals at low fees, with easy crypto purchases via Simplex and Mercuryo. With a brokerage, however, there is no “other person” – you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. For anyone going through user Bitfinex reviews and asking if is Bitfinex legit, though, there’s yet another security measure that the company behind the exchange utilizes – cold cryptocurrency storage.

How long do Bitfinex withdrawals take?

• Bitfinex stands out for its low trading fees and a range of advanced trading options, including margin trading, derivatives, and an array of crypto pairs, making it a versatile platform for seasoned traders.
• Bitfinex provides traders with a modern custom platform that can be accessed through a browser-based web application.
• Upon logging in, your information is then saved into the platform’s systems, and your IP address is logged, too.

After generating a deposit address for my Exchange account, I could start trading immediately without additional transfers. This comprehensive test allows us to provide an informed and reliable review of the exchange’s usability, features, and actual costs. Our process included signing up, completing the KYC (Know Your Customer) verification, logging in, depositing funds, and making withdrawals. For our trading test, we thoroughly evaluated the Bitfinex platform. The Bitfinex trading platform is feature-rich but I experienced some lags during testing.

• For trading, Bitfinex platform follows the maker and taker fees structure.
• Highly not recommended.Il mio account su Bitfinex è bloccato da quasi due settimane.
• However, this fee can be reduced based on your 30-day trading volume and Unus Sed LEO token holdings.

Does Bitfinex have fees?

Bitfinex Withdrawal rules may vary across different brokers when it comes to transferring funds from your Bitfinex or other broker trading account. The fees for withdrawing funds from your Bitfinex account will differ depending on your chosen payment method. Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees.

When you try to withdraw some of your earnings, you can’t, or you’ll be told you first need to pay high fees. What the investors don’t know is that the platform actually is a Ponzi scheme, in which they’re paid returns out of money put in by other investors. Criminals lure unwary investors into setting up accounts on an online investment platform with the promise of fabulous returns. Scams where the victims were directed to use a cryptocurrency ATM have increased nearly tenfold from 2020 to 2023. When using cryptocurrency to pay scammers, victims lost more than $1.4 billion in 2024, according to the FTC. The Federal Trade Commission (FTC) reported that investment scams, including cryptocurrency investment scams, had the highest median losses of all scams reported in 2024.

They do not provide live chat support, and their phone and email support can also be slow. Based on our experience, we have given Bitfinex a D grade for customer support. Developing your trading skills with Bitfinex, before live trading.

Do not invest with Bitfinex unless you are prepared to lose all the money you invest. Bitfinex do not offer a demo account so it looks like you will have to bitfinex review sign up for at least a trial period. Dive into our informative Bitfinex Vs pages below to find out how Bitfinex stacks up against other leading brokers. If you’re interested in comparing Bitfinex against other popular brokers in the industry, check out our Bitfinex Vs pages.

Security & Transparency

However, it prevents users from sending funds to a non-existent wallet and is equipped with an address book. The Bitfinex mobile app features industry-standard security measures. Rewards vary by asset, ranging from 1.5% to 6.5% annually, and users simply need to hold their assets in the platform’s wallets to participate. Unlike Crypto.com, BitMart, and other platforms I’ve tested, Bitfinex also highlights the last traded price for an asset across all available pairs. To ensure accuracy, the exchange flagged any typos in the wallet address, preventing the withdrawal until corrected. Users could choose to pay the fee separately or deduct it from the withdrawal amount.

As a result, selecting the right trading platform like Bitfinex requires a deep understanding of the market, trading strategies, and platform functionality. Choosing a trading platform requires a significant amount of research and analysis.It can be challenging to understand each platform’s various features and benefits, especially with a complex trading platform like Bitfinex. Technical language and terminology can be confusing with brokers like Bitfinex.Choosing or shortlisting a trading platform like Bitfinex can be time consuming. When trading in the financial markets, finding a broker that meets your needs can be very time-consuming. Bitfinex are a worldwide financial trading platform and broker.

Once completed, Bitfinex users can download the trading platform of their choice. Demo trading accounts like the Bitfinex demo account can help individuals to make informed decisions before investing their money. By creating a Bitfinex practice account, users can gain experience and knowledge of how to trade effectively. Bitfinex provides a demo account that enables individuals to explore trading before investing their funds. You should take the security of your personal information seriously and check SSL encryption is enabled on the Bitfinex trading platform to protect you on PC and mobile Bitfinex platforms. Bitfinex provides traders with a modern custom platform that can be accessed through a browser-based web application.

Bitfinex also does not support order types like Trailing Stop, GTC, GTD, or Day orders. However, the platform lacks Proof of Reserves and does not offer insurance for customer deposits. Most cryptocurrencies can be purchased directly with fiat. Its native integration with TradingView makes it possible to perform price analyses without leaving the platform. The “Derivatives” section only offers perpetual swaps with leverage up to 100x. Our clear and thorough approach helps explain trading strategies and their requirements.

That said, though – what makes Bitfinex a “professional” trader platform? Even though it has a history of security breaches, now it offers solid security measures, such as cold storage and IP address monitoring, which enhance its reliability. If you’re a cryptocurrency veteran, there’s a pretty good chance that you’ve heard the name “Bitfinex” before. But this is advanced stuff…Keep in mind, bitfinex is among the oldest and most highly regarded platforms, whenever it was hacked in the distant past, costumer were fully compensated.

Regulatory bodies protect traders through reimbursement schemes in case of Bitfinex going into insolvency. Bitfinex emphasizes this risk on its platform and provides clear risk warnings – Your capital is at risk. Therefore, you should only risk trading when you understand that your capital is at risk at any time. They hold substantial core capital reserves, making them capable of handling unexpected losses and market volatility without endangering their Bitfinex clients’ funds.

Bitfinex is used by over 3,000,000 traders and Bitfinex users. Tier 1 is the official measure of a bank’s financial health and strength.Trading with Bitfinex is risky, and because the market is so volatile, losses could happen at any time. Furthermore, some off-exchange financial instruments and derivatives may offer varying leverage levels and may not be subject to the same regulatory protections as exchange-traded instruments. Trading financial instruments such as foreign currency markets and other financial instruments involves high risk and is unsuitable for everyone. Although we found some very useful aspects of the Bitfinex platform that would be useful to some traders.

Bitfinex Review

Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for professional traders and liquidity providers around the world.See more In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital assets. Since then, our team has gained invaluable experience whilst cementing our spot as the go-to platform for digital asset traders and institutions. FINRA, a non-profit that supervises broker firms and educates the public about investments, has information on the risks of investing in cryptocurrency.

That makes it perfect for first-time buyers! Now all you need to do is repeat the previous steps to complete your purchase. You can also enter a custom amount of BTC that you'd like to purchase, too – the price will be presented in the currency of your choice. Once you have logged into your account, navigate to the Buy page, and select what you'd like to purchase – in this case, I'll assume that it's Bitcoin. Coinmama supports Visa, MasterCard, ApplePay, SEPA, and some more payment options.

Interface and Additional Features

Since Coinmama is a cryptocurrency broker/exchange, you can buy, tade and exchange cryptocurrency. The only issue is that Coinmama offers relatively high fees when purchasing coins with fiat money. Very accessible due to fiat payments, not many exchanges offer this option… I knew that every exchange charges fees, but on coin mama it really ads up.

As for Coinmama verification time, accounts are normally verified within a couple of hours, so you will just need to wait until you receive an email. So, even though you can only purchase the two most popular cryptocurrencies, both BTC and ETH will allow you to trade with all the smaller, less popular cryptos. That said, it's worth noting that Coinmama does not have any withdrawal fees! The exact fee will depend on the number of coins you want to buy, and this seems to change without notice. To use your card, you will have to pay an extra 5% fee on top of the rate that Coinmama charge.

Coinmama Review: Step-by-step Guide to Buying Coins

Documents uploaded to Coinmama for verification tend to be processed within a few hours during business hours, with longer processing times to be expected during evenings and weekends. In addition, Coinmama has not released an API to enable users to create custom applications that would be compatible with the platform. BitDegree aims to uncover, simplify & share Web3 & cryptocurrency education with the masses.

• Our evaluation process and criteria are designed to assess sophisticated trading platforms.
• Coinmama doesn’t charge any additional fees to withdraw coins.
• While Coinmama has never actually been affected by a hack that led to a loss of cryptocurrency, they have been hacked.
• For instance, some other exchanges offer discounts on trading fees but in order to qualify for the discount you first must purchase some of their exchange token.
• I hope you enjoyed reading this Coinmama review!

Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place. No, Coinmama is not a wallet provider, so if you need a place to store your coins, you should check out some of the most recommended cryptocurrency wallets. I still often come back to purchase coins in here and go trading to more niche cryptos So, for those of you looking to purchase Bitcoin, Ethereum, or another cryptocurrency for the first time, Coinmama is a great place to start. At the final stage, you will be asked to enter your debit or credit card details, as well as your Bitcoin or Ethereum wallet address.

Of this, Coinmama’s fee came to £11.37 or 11.39%, making it the most expensive exchange I’ve reviewed for buying crypto. By not holding any cryptocurrency on user’s behalf, Coinmama is effectively given users an extra nudge to set up their digital wallet (or even better, purchase a hardware wallet). The amount of cryptocurrency that a user may purchase is dependent on the level of verification that they have reached with the platform.

In my testing, I found Coinmama charged slightly more for buying crypto than selling it on all payment methods except SWIFT. It provides a straightforward way to buy and sell cryptocurrency using fiat, https://forex-review.net/coinmama-review/ avoiding the complexities of spot, futures, or leveraged trading. While the crypto-swaps tool does not require KYC or account creation, logging in and completing KYC is mandatory for buying and selling cryptocurrency. This website is a strong advocate of promoting that individuals do not leave their cryptocurrency on an exchange, due to the fact that such exchanges are prominent targets of hackers. As stated above, Coinmama supports a wide range of countries, probably the widest amongst cryptocurrency exchanges and significantly more than most of its rivals, including Coinbase and BitStamp. Aside from its international availability, one of the most appealing features that Coinmama provides that is absent among many of its competitors is that it provides users the opportunity to purchase up to $/€ 150 of cryptocurrency without having to verify their identity.

Cryptocurrencies Available on Coinmama

For example, if someone wants to buy Bitcoin and BTC is currently trading at $10,000 then the market rate for the sale on Coinmama will be $10,200. They charge a variable commission fee that can be as high as 3.9%. While it's easy to buy Bitcoin on Coinmama they don't offer support for very many other cryptocurrencies. So a trader goes to the Coinmama website and enters the purchase order, but the actual clearing of the trade is handed by a third party.

Fees are high for purchases and sales. The private keys for your crypto are never held in Coinmama’s custody. Hopefully in the future Coinmama will include more coins so that traders have more options to choose from. The Coinmama customer support department is also quick to respond in the event of a trading problem. By referring a new user to Coinmama you can receive a commission on all of their purchases. What's cool about the Coinmama loyalty program is that everyone is automatically enrolled and you don't have to purchase anything to get involved.

Details

You should yourself determine which trading view that suits you the best. Active in the industry since 2017, he focuses on long-term holding, swing trading, and market cycles. Callum Kennard is a crypto trader and crypto journalist based in the UK. Coinmama has an educational resource called Coinmama Academy, a database of blog articles set up to help newcomers understand crypto. This stands out even among major platforms like Coinbase, which typically offer only two or three deposit methods per location. Its official website claims that it has a 0.9% withdrawal fee for Bitcoin.

Is Coinmama Safe to Trade With?

Coinmama forces you to keep your coins off the platform which dramatically reduces the likelihood of losing coins to a hack. When you buy Ethereum or any other crypto on Coinmama, using any one of their various payment methods, you have to supply a crypto address. While Coinmama has never actually been affected by a hack that led to a loss of cryptocurrency, they have been hacked.

All credit card purchases incur a 5% commission which is fairly typical and certainly a lower commission than some other platforms. They allow their traders and investors to buy Bitcoin or any other currency with a credit card or debit card at any time. Coinmama charges a commission each time someone uses their platform to buy Bitcoin or any other cryptocurrency. Like almost every other cryptocurrency exchange, there are regulations about who can access the platform.

Our evaluation process and criteria are designed to assess sophisticated trading platforms. Ultimately, Coinmama has a strong reputation within the cryptocurrency community as a safe, honest and trustworthy broker. One of the other advantages of Coinmama is that it effectively forces users to set up a secure digital wallet. In order to purchase from Coinmama, users in non-sanctioned countries need a VISA or MasterCard issued in such countries. However, it should be noted that daily and monthly limits are applicable regardless of what level users have reached in terms of their verification. In order to confirm wallet addresses, users will receive an email link from Coinmana to allow them to confirm that the address is valid.

• The crypto swaps tool supports 500 tokens — well beyond the 82 tokens available on the main exchange.
• The more documentation that the user provides, the more currency that they are entitled to purchase.
• The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice.
• Instead, Coin mama is a buying platform which enables traders and investors to purchase cryptocurrencies like Bitcoin and Ethereum.
• The platform provided an address to copy and a QR code for mobile convenience to facilitate the transaction.
• The company is most active on Facebook with daily posts, which I found strange as it’s not typically a crypto-focused platform.

Coinmama Review 2025

We do not publish biased reviews or spam. All reviews, either positive or negative, are accepted as long as they're honest. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. So, did you follow my step-by-step guide and buy some coins? While no exchange is perfect, Coinmama is definitely on the positive side. I hope you enjoyed reading this Coinmama review!

Customer service for Coinmama consists mainly of a support email address. A hardware wallet like a Ledger or Trezor is always a great choice. As soon as the payment method clears the money automatically gets sent to that address.

Unlike other exchanges, cashing out requires manually sending crypto to an address provided by Coinmama, and then receiving funds into your bank account. I appreciate the concept behind Coinmama, but its high fees make it an exchange I wouldn’t personally use. To complete my tests, I decided to sell some of the crypto I had just purchased. After logging in, UK users must wait 24 hours before making a purchase, in line with the FCA’s “cool-off” period for crypto transactions. Similar to most UK-compliant exchanges, Coinmama asks questions to confirm your understanding of crypto risks before allowing you to complete the transaction.

Keeping your crypto secure

Leave your genuine opinion & help thousands of people to choose the best crypto wallet. Just remember to stay safe out there and always do extensive research before placing your money into any cryptocurrency! If you would like to check out Kucoin, more recommended broker exchange, then check out this full review. If you cannot find a cryptocurrency that you're looking for, you should check out Kucoin that has more options to choose from. Congratulations, you can now buy up to $15,000 in cryptocurrency! Make sure this matches the address on your payment card or it will be declined!

Coinmama's Security Record

With offices in Israel and Canada, Coinmama focuses on simplifying cryptocurrency purchases for beginners. Coinmama, founded in 2013, is a Canada-based cryptocurrency exchange and the consumer-focused arm of Wellfield Technologies, which acquired the company on May 27, 2022. Coinmama operates as a non-KYC exchange for crypto swaps, allowing access from nearly anywhere in the world through third-party payments. For this reason, we’ve excluded it from our ranking and instead provided a review for users seeking these types of services. Although Coinmama remains a relatively small exchange in the cryptocurrency ecosystem, they have yet to experience any known security breaches and are slowly but steadily building up their market share. In addition, by offering transactions through Western Union, Coinmama is one of the only sites that allow customers to purchase cryptocurrency through ‘cash’ deposits.