What is CITEX?
CITEX is an exchange registered in South Korea. It has been active since 2018.
The exchange proudly demonstrates on its website the institutional investors backing the platform. There are both bigger and smaller investors in the investor collective.
Decent Number of Trading Pairs
This trading platform has a decent number of trading pairs, matched against BTC, ETH and USDT. You also have two trading pairs against the KRW (BTC/KRW and ETH/KRW) providing a way in to the other trading pairs.
The exchange does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe that US-investors can trade here.
CITEX also has a very useful app for people that prefer to trade on their smartphones. The below picture shows the trading view in mobile format:
CITEX Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. This is the trading view at CITEX:
CITEX Trading fees
Trading fees are naturally very important. Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. At this exchange, they don’t divide between takers and makers. Each party to a transaction pay the same fee: 0.20% of the order value.
0.20% is an acceptable trading fee. Industry average has for a long time been 0.25%, but we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead. In any event, 0.20% should not be a deterrent factor from opening an account with this exchange.
CITEX Withdrawal fees
CITEX charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This is around 40% lower than the industry average, as the industry average is arguably around 0.0008 BTC per BTC-withdrawal.
All in all, the fees charged by Citex are a bit below the global industry averages.
CITEX offers wire transfer as a deposit method, but credit cards is not an available deposit method. Accordingly, if you for any reason must use your credit card for deposits, this exchange is not for you. But in that case, you can just use the Exchange Finder to find another exchange suitable for you. Also, wire transfer are only available is you deposit the South Korean currency (KRW).