UPDATE 1 November 2021: When trying to access the website of LOEx Global today, we were unsuccessful. There have been no preceding messages on system maintenance or new websites or anything similar.
Accordingly, we believe that this exchange has closed down and we have marked it as "dead" in our Exchange Graveyard. If the exchange's website would become accessible again and the error is just temporary, we will "revive" it and bring it back to our Exchange List.
To find a reliable exchange where you can start an account, just use our Exchange Filters and we'll help you find the right platform for you.
LOEx Global Review
LOEx Global is a cryptocurrency exchange with Seychelles as its registered home country. It has been active since 2019.
The platform emphasizes on its website that it is a safe platform, a reliable platform and that is technologically efficient. These factors are all important in our opinion, so we understand why they are highlighted as advantages.
On the date of first writing this review (17 February 2021), the platform's 24 hour trading volume according to Coinmarketcap was USD 109 million. But, on the date of last updating this review (16 September 2021), the trading volume had surged to USD 1.2 billion, which is quite impressive.
Let’s say that you hold a very large amount of a certain cryptocurrency. You want to sell that amount. Should you do that in the ordinary orderbook at a regular trading platform like everyone else? Maybe not. One of many reasons for executing large trades outside of the normal market place is that large trades may affect the market price of the relevant crypto. Another reason, which is connected to the foregoing, is that the order book might be too thin to execute the relevant trade. A solution to these problems is what we call OTC-trading (Over The Counter).
LOEx Global offers OTC-services to its users, which might be helpful to all of its users with a bigger crypto portfolio.
LOEx Global Mobile Support
Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. If you are one of those traders, you’ll be happy to learn that LOEx Global’s trading platform is also available as an app. You can download it to/from both the AppStore and Google Play.
Why do so many exchanges not allow US citizens to open accounts with them? The answer has only three letters. S, E and C (the Securities Exchange Commission). The reason the SEC is so scary is because the US does not allow foreign companies to solicit US investors, unless those foreign companies are also registered in the US (with the SEC). If foreign companies solicit US investors anyway, the SEC can sue them. There are many examples of when the SEC has sued crypto exchanges, one of which being when they sued EtherDelta for operating an unregistered exchange. Another example was when they sued Bitfinex and claimed that the stablecoin Tether (USDT) was misleading investors. It is very likely that more cases will follow.
According to information we have received, US-investors are not permitted to trade at LOEx Global. If you're from the US and want to find an exchange where you can trade, just use our Exchange Filters and we'll help you.
LOEx Global Trading View
Every trading platform has a trading view. The trading view is the part of the exchange’s website where you can see the price chart of a certain cryptocurrency and what its current price is. There are normally also buy and sell boxes, where you can place orders concerning the relevant crypto, and, at most platforms, you will also be able to see the order history (i.e., previous transactions involving the relevant crypto). Everything in the same view on your desktop. There are of course also variations to what we have now described. This is the trading view at LOEx Global:
It is up to you – and only you – to decide if the above trading view is suitable for you. Finally, there are usually many different ways in which you can change the settings to tailor the trading view after your very own preferences.
LOEx Global Fees
LOEx Global Trading fees
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. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book.
LOEx Global charges what we call flat fees, meaning that both the takers and the makers pay the same fee. In this case, that fee is 0.20%. These flat fees are quite in line with, or slightly above, the global industry averages for centralized exchanges. In the largest and most recent empirical study performed on industry average crypto trading fees, we found that the industry average spot trading taker fee was 0.217% and the corresponding spot trading maker fee was 0.164%. Here, as you recall, they are both set at 0.20%.
Consequently, LOEx Global's trading fees are slightly below average for the takers and a bit higher than average for the makers.
LOEx Global Withdrawal fees
We have not been able to find any information on LOEx Global’s withdrawal fees. This is potentially a risk for you as an investor. Whenever an exchange does not inform of a fee, there is a higher risk that such fee is high. As soon as we receive information on the withdrawal fees at LOEx Global, we will update this review and post them here.
In order to trade here, you must have cryptocurrency to begin with. The only asset class you can deposit to LOEx Global is cryptocurrency. However, if you really like LOEx Global but you don’t have any crypto yet, you can easily start an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy crypto there, and then transfer it from such exchange to this exchange. Use our Exchange Filters to easily see which platforms that allow wire transfer or credit card deposits.