Mercatox Review and Analysis: Is it safe or a scam? We’ve checked and verified!

If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means they are unregulated and should be avoided. There are a lot of brokers out there operating under fake company names or that have other fraudulent operations. A little bit of preliminary research can go a long way in protecting you and your finances. I star with 200 after i did the transfer they ask me 500 to payme the profit. They want 50% to withdraw kick tokens, with a minimum of 50,000 tokens. Today that’s $100 for $200 investment.DO NOT USE THEM FOR ANYTHING.

Additionally, Gemini’s Gemini Earn product has far more staking selection and higher APY offered than Mercatox’s nonexistent staking services and other financial services products. Derivatives traders who want to trade margin, extensive crypto futures pairs, or leveraged tokens and options will prefer FTX since Mercatox offers only minimal margin trading options. FTX will win against Mercatox for even beginner traders unless specifically seeking KYC-free trading, as FTX offers fiat functionality, 323 coins and 492 trading pairs, which is again higher than Mercatox’s selection. Trading fees are 0.25% for both market makers (providers of liquidity) and market takers (takers of liquidity). There are no incentives or tiers based on trading volume, unlike at many other exchanges. When browsing around for public comments on the exchange we see mostly good reviews and happy customers that enjoy trading on a fast platform that is easy to use.

What is the minimum deposit on Mercatox?

The Mercatox trading platform is simple to use and is designed to meet the needs of both professional as well as novice traders. The website lists all the supported cryptocurrencies so that the traders can select their preferred cryptocurrency trading pairs. The Mercatox exchange features a proprietary trading platform that is mainly web-based.

This isn’t necessarily a disadvantage as it streamlines the interface towards what is important – trading cryptocurrencies. The peer-to-peer cryptocurrency exchange provides you with real-time updates and executing an order is extremely efficient. The withdrawal fees ranges from 0.0003BTC to 0.005BTC on BTC withdrawals. For the traders who pay less, the transactions might take some time https://forex-review.net/mercatox-review/ to process within the range of few days. In which, as per the average of the market, the fees on the withdrawals applied by the broker of 0.0003BTC is below the average of the market which gives an advantage for the broker. The security measures the broker is applying to maintain the safety of the information on the accounts aren’t disclosed perhaps due to confidentiality reasons.

Which Countries Does Mercatox Support?

This will ensure that you receive a complete overview of any additional fees that might come back to bite you. Our review of Mercatox has noted that there is one account which you can access on this exchange. As it is solely-focused on providing a crypto exchange service to customers, you won’t be able to utilise a variety of different trading accounts. All you need to do is create a profile by filling in your personal details.

• In the past, there were payment gateways that were allowing users to buy crypto coins or deposit fiat money.
• Users will not find any advanced or complex crypto financial services here, or even basic ones such as staking.
• Our review of Mercatox delved into the inner-workings of the platform at hand.
• Mercatox is a multifunctional cryptocurrency exchange that provides its clientele with a variety of services related to cryptocurrencies.
• Mercatox offers 2-factor authentication that every user should opt for if using this exchange.

Usually, crypto exchanges have a separate section for margin trading. Another aspect that makes margin trading on Mercatox unusual is that leverage is taken from other traders, not from the platform. It means that on the other side of things you can be a lender.

Is Mercatox Legit or a Scam?

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There seem to be no fees for signing up or for having an inactive exchange account, nor any fees for holding funds in an exchange account. Mercatox also offers an affiliate and loyalty program to users, as well as a portal to check statistics such as top gainers, losers, and volume on its offerings. When you log in for the first time to the exchange you need to verify your email by clicking LOGIN TO ACCOUNT in the email you receive. You can choose to disable this feature in the Security section of your profile. However, we recommend that you keep it activated as long as you keep funds on the exchange.

Affiliate Program

” We happened to note that all new customers will be able to implement two-step security measures while the exchange is constantly monitored. Mercatox is a multifunctional cryptocurrency exchange that provides its clientele with a variety of services related to cryptocurrencies. However, the UK financial watchdog did not provide a definite regulation for the crypto-exchanges.

This is currently the most common case of cryptocurrency exchanges worldwide. However, investors should also be aware that there are many blockchain themed fraud schemes. The trading process here deals mainly with crypts and their different types and form. Advanced traders and intermediate users alike who value a large selection of cryptocurrencies, products like staking, lending, and more, competitive fee structures, and futures and margin products will prefer Binance. Binance is the leading global crypto established exchange by trading volume, offering a much larger selection of cryptocurrencies than Mercatox—over 351 coins and over 1300 pairs.

The platform permits traders to view the transactions history in the order book window. Margin trading is also available on this platform and it permits traders become a lender. Actually, Mercatox platform is seeking to cover multiple areas of investing to expand their customer’s base. The platform can also be accessed from anywhere around the world. As for trading fees, Mercatox is slightly more expensive than most of the other exchanges. There one can make money without trading by lending assets to interested individuals at an interest.

• Mercatox is a cryptocurrency exchange that provides a multicurrency wallet to its clients.
• It’s hard to predict if Mercatox will ever recover or will it be in the development stasis state forever.
• Withdrawals are generally quick on Mercatox, but withdrawals take a little longer than usual if the network is busy.
• It’s possible they haven’t fully rolled out that service, but the tab has been up on their platform for several years, so I doubt that is the case.
• Thus, it is possible to trade the most popular cryptocurrencies as well as trade those digital coins that are more obscure and tend to exist within niche markets.

The P2P lending program is one of a kind and definitely a unique feature of the exchange. The exchange also imposes a different restriction on verified and unverified accounts. The offer higher withdrawal limits on verified accounts, while unverified accounts can withdraw up to 0.5 BTC per day. Choosing the right cryptocurrency trading platform plays a vital role in enhancing returns from volatile cryptocurrency markets.

This can range from a basic query to an actual issue with your account. Regardless of the problem at hand, responsive support is mandatory for an online broker to maintain happy clientele. Without online support, it becomes extremely difficult to rectify any issues that may surface. Our Mercatox review UK has assessed the platform from head to toe. One of the aspects which we have been unable to unravel in full pertains to the trading fees of the platform.

Mercatox’s single market approach also means it offers traders the chance to gain exposure to a much wider selection of cryptocurrencies than many multi-asset brokers. In addition, users can even vote on new tokens to be added to listings – meaning Mercatox will likely be one of the first places to list newly developed cryptocurrencies. Mercatox was founded in 2016 in response to the boom within the cryptocurrency market. Today, Mercatox prides itself on providing unfettered access to a raft of cryptocurrency pairs. Their mission includes providing instant access to a crypto exchange.