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.
UPDATE 9 March 2019: Upon of our last visit on this exchange, we noticed the following announcement. Accordingly, we have currently marked this exchange as closed even though it might be just temporary.
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 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. We have not yet been able to obtain a picture of the trading view of FreiExchange. We apologize for any inconvenience this may cause.
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%), 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: