UPDATE 14 August 2020: This exchange displays all the traits of a scam exchange. We received information (with supporting evidence) from a user at the exchange, that the exchange had asked him to deposit BTC to a "bot rectifying address" in order for his account to be unlocked. When he made this deposit, they asked him to make another "confirmatory deposit".
Stay away from this exchange at all cost.
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A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of FEX consists of four parts: general information, fees, deposit methods and security.
FEX is a cryptocurrency exchange from Hong Kong. Hong Kong has for a long time, together with Singapore, been the main crypto country in Asia so it’s no surprise that so many exchanges are registered here.
FEX has three values as the main values of the platform: extreme speed, safety and professionalism.
FEX also has a mobile app. You can download the mobile app on both App Store and Google Play. Most traders do their crypto trading on desktop, but if you prefer to do it via mobile, that’s no problem with FEX.
If you are a resident or citizen of the US, you can’t trade here. The reason so many exchanges exclude US-investors are the strict legal rules relating to marketing investments from US-investors. When doing so, the company marketing such investments must comply with numerous American rules regarding registration of marketing materials, various SEC-filings etc. You shouldn’t be too sad if you’re a US-investor though, there are many other venues that offer the type of trading this exchange does. Use our Exchange Finder to find out which alternatives you have.
FEX 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. The below is a picture of the trading view at FEX:
FEX Trading fees
This particular trading platform doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model. The flat fee is 0.20%. This fee is slightly below the industry average. The industry average has for a long time arguably been 0.25%, but we currently see more and more exchanges moving to far lower trading fees. 0.10%-0.15% are emergin as new industry averages. For the time being though, 0.20% is in line with industry average.
FEX Withdrawal fees
FEX charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This is somewhat above the industry average, as the industry average is 0.000812 BTC per BTC-withdrawal. However, compared to industry average, the BTC-withdrawal fees at this exchange is only 0.000188 BTC higher. This corresponds to approx. 0.88 USD more per withdrawal and should not be a deterrent factor for you in your choice of exchange.
All in all, the fees here are competitive.
This trading venue does not accept any other deposit method than cryptocurrencies, so new crypto investors are actually restricted from trading at the exchange. If you don’t have any crypto but want to start trading at this exchange, you will first have to purchase cryptocurrencies from another exchange and then, as a second step, deposit them here. Luckily for you, you can use the Exchange Finder to find a cryptocurrency exchange accepting fiat currency deposits.