US investors permitted
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 FreiExchange consists of four parts: general information, fees, deposit methods and security.
We have not been able to tell whether US-investors are permitted or not. If you are a US-investor and wants to be absolutely certain that you are permitted to trade though, se our Exchange Finder here to find out which alternatives you have.
FreiExchange Trading fees
We have not been able to find FreiExchange’s trading fees. This is potentially a risk for you as an investor (if they are not informed of anywhere we believe there is a higher risk that they are high). Accordingly, we strongly urge you to make your own analysis of the trading fees at FreiExchange before depositing any funds there and before concluding that it is the best cryptocurrency exchange site for you.
FreiExchange Withdrawal fees
Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. Let’s say you have reached your investment goals and you are looking to buy house with bitcoin. In order to buy that house, you need to withdraw the funds. And when doing so, the exchange can make up for its low trading fees by charging you high withdrawal fees when you’re halfway out the door.
This exchange charges a withdrawal fee amounting to 2.00% when you withdraw cryptocurrencies (such as BTC). They also have a lower withdrawal fee percentage (0.40%) for certain other cryptocurrencies. This is an unusual withdrawal fee model. Most exchanges have a fixed withdrawal fee, regardless of the size of the withdrawn amount. In addition to this exchange, only the following have percentage based withdrawal fees (from lowest to highest): SouthXchange (0.04%), FatBTC (0.05%), Digax (0.10%), ExcambioRex (0.10%), Gocio (0.10%), BitINKA (0.15%), RippleFox (0.20%), OOOBTC (0.50%), BCEX (0.50%), DOBI Trade (0.50%), iCE3X (0.50%), LEOxChange (1.00%) and Trustdex (1.00%). FreiExchange thus has the highest percentage based withdrawal fee in the world.
With the fee model that this exchange has, when you withdraw small amounts, it is beneficial to you. If you withdraw 0.01 BTC, the withdrawal fee becomes 0.0002 BTC (quite low). However, if you withdraw 10 BTC, the withdrawal fee becomes 0.2 BTC (extremely high). We would really like to say that 0.2 BTC when withdrawing 10 BTC is nothing short of complete robbery.
We have not been able to find any information on deposit methods.
This platform’s security score is C, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is in line with industry average when it comes to top crypto exchanges.
We hope you have enjoyed reading the above review. We also recommend checking out the following cryptocurrency exchanges. They are well established in the industry and have also received excellent ratings from the visitors on our site: