A crypto guide must provide reviews of all of the exchanges out there, so that you can find the right one for you. This review of ECXX consists of four parts: general information, fees, deposit methods and security.
ECXX is an exchange from Singapore that launched in 2018. There are numerous other exchanges from Singapore. Singapore has really established themselves as one of Asia’s largest crypto hubs.
The trading volume at this platform is very impressive. The 24 hour trading volume on the date of first writing this review (16 October 2019) was only USD 1.9 million. But, on the date of last updating this review (16 March 2020, right in the middle of the crisis with COVID-19), the 24 hour trading volume was a whopping USD 458 million. What an amazing improvement! It placed ECXX on place no. 38 on Coinmarketcap’s list of the exchanges with the highest 24 hour trading volumes in the world.
ECXX promotes a few things as main benefits with its trading platform. They highlight their security, which they refer to as “Fort-Knox Security”, and that they have a fast and powerful trading engine. Those two things are of course very important. The exchange also emphasizes its fast deposits and withdrawals. Finally, they state that they have “100% reserves”, meaning that the assets you hold at the platform will never be used anywhere else. All of these aspects are important to us.
Most people do their crypto trading on their desktops. But there are people who prefer to do it on their cell phones instead. If you are one of those people, you’ll be happy to know that ECXX is also available as an app for your phone. At least if you have an Android phone. We’re not sure if the development of the platform for iPhones is in progress or not, so we’ll have to wait and see.
Investors from USA may not trade here today. Accordingly, if you’re an investor from USA and you’re in love with ECXX, you’ll have to wait. In the meantime, use our Exchange Finder to find out which exchanges that today support US-investors.
ECXX 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 crypto 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 see that it feels right to you. This is the trading view at ECXX:
ECXX 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 here: 0.10% of the order value.
0.10% is quite in line with the new global industry averages.
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, just like ECXX.
ECXX Withdrawal fees
ECXX charges a withdrawal fee amounting to 0.0004 BTC when you withdraw BTC. This is far below the global industry average BTC-withdrawal fee, being 0.000812 BTC. So ECXX’s fees are roughly 50% lower than the industry average.
All in all, both the trading fees and withdrawal fees at ECXX are below the industry averages, which is great.
ECXX does not accept any other deposit method than cryptos, so new investors are restricted from trading at ECXX. If you are a new crypto investor and you wish to start trading here, you will have to purchase cryptos from another exchange first and then deposit them at this exchange. To find an exchange where you can deposit fiat currency, just use our Exchange Finder and we’ll help you through it.
We run all the exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. ECXX received a score of B- in this test. This is a very good score, and actually better than 90% of all other exchanges in our Exchange List.
Also, the exchange clearly promotes their security features on its website. Things like X509 SSL HTTPS certificate, 2FA, IP-binding features, multi-sig system and a high percentage of assets in cold storage, are enabled to make the users of the platform sleep better at night.
Finally, we hope you have enjoyed reading the above review. We also recommend checking out the following exchanges. They are well established in the industry and have also received excellent ratings from the visitors on our site: