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 MBAex consists of four parts: general information, fees, deposit methods and security.
MBAex markets itself as “Southeast-Asia’s Biggest Platform for Blockchain Assets Trading”. In spite of that statement, the exchange is actually owned by a Cypriotic company (MBAEX ONLINE PTE. LTD). There are also a few other Cypriotic exchanges out there, one of which being Coindeal. Coindeal has slightly higher fees but a much wider selection of trading pairs.
MBAex offers trading in the biggest cryptocurrencies. For these purposes, the “biggest cryptocurrencies” are Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ripple. If you’re looking to trade any smaller cryptocurrency than the ones mentioned in the foregoing sentence, you’ll have to find another trading venue. Use our Exchange Finder for that purpose.
MBAex offers detailed information about its Cypriotic parent company and all the members of its management (CEO: Sebastian Ionut Diaconu, COO: Theodoros, CMO: Wong Ming Fei). This provides some level of comfort from an anti-scam perspective.
US-investors are permitted to trade here.
MBAex Trading fees
This Cypriotic coin exchange charges both takers and makers flat fees. The level of the flat fees is 0.10%. This is very competitive fees, far below global industry average.
It could be worth noting here that many exchanges have trading fees that are reduced as volumes are increased, meaning that you are incentivized to trade in higher volumes. The fees listed in this review and in the comparison table are excluding any such volume discounts.
MBAex Withdrawal fees
At this exchange, they charge a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This fee is in line with industry average, possibly somewhat on the high end.
This exchange offers a wide variety of deposit methods. You can deposit in essentially whatever way you prefer. Wire transfer, credit cards, other cryptos, you name it. MBAex is consequently a so called “entry-level exchange”.
We run all 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. When doing this test, this exchange only received an F-score in this test. This is below industry average and is thus not a competitive advantage at all for this exchange.
As mentioned above, this exchange supports credit card deposits (alone or through the use of any of its associated payment service providers). Other cryptocurrency exchanges that also have this option include: