A crypto exchange guide must provide reviews of all of the exchanges out there, so that you can find the right one for you. This review of Piexgo consists of four parts: general info, fees, deposit methods and security.
Piexgo is an exchange from Singapore that launched in 2018. There are numerous other exchanges from Singapore. Singapore has really established themselves as one of Asia’s largest crypto hubs.
The trading volume at this platform is good, but not great. On the date of fírst writing this review (24 October 2019), CoinGecko reported that the 24 hour trading volume was USD 3.4 million. However, on the date of last updating this review (16 March 2020, right in the middle of the crisis with COVID-19), neither Coinmarketcap nor Coingecko had any information on the trading volume of Piexgo. This is worrying news and anyone interested in opening up an account with Piexgo should be aware of the trading volume.
Piexgo also has an OTC-desk. With an OTC-desk, you can execute larger trades with quick settlement. Trades that you for pricing reasons (also known as “slippage”) don’t want to execute on on the open market.
As its main advantages, the exchange lists that they have an advanced and customer-centric security system, top technical capabilities and an international asset management team. We are actually not sure what any of this really means to the users of the platform and it would be helpful if the exchange clarified that on its site.
This trading platform does not prohibit US-investors from trading, but US-investors should still do their own independent assessment of any problems arising from their residency or citizenship.
Piexgo 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 crypto 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 see that it feels right to you. The below is a picture of the trading view at Piexgo:
Piexgo Trading fees
The most important lesson to learn when it comes to picking the right platform is that you must always check the fees. Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order.
This exchange’s trading fees for takers are 0.15%. This fee is below the industry average, which is arguably around 0.25%. One of this exchange’s strong offerings is that the exchange also charges a very low fee for makers, namely 0.05%. This promotes the liquidity at the exchange and is a strong aspect for this platform.
Piexgo Withdrawal fees
Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of cryptocurrency units withdrawn), and varies from cryptocurrency to cryptocurrency. We have not been able to find any info on this exchange’s withdrawal fees. This is potentially a risk for you as an investor (if you do not receive info on the fees anywhere, there is a higher risk that they are high). Accordingly, we urge you to make your own analysis of the withdrawal fees before depositing any funds here.
Piexgo does not accept any other deposit method than cryptos, so new investors are restricted from trading at Piexgo. If you are a new crypto investor and you wish to start trading here, you will have to purchase cryptos from another exchange first and then deposit them at this exchange.
To find an exchange where you can deposit fiat currency, just use our Exchange Finder and we’ll help you through it.
We run all the 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. Piexgo received an F- score in this test. This should however be viewed in light of the fact that F is the Mozilla Observatory-score received by the majority of all exchanges in our Exchange List.
Finally, the exchange reviewed above is what we call an “entry-level exchange”. This means that you can enter the crypto market with fiat currency (normal cash). There are many such exchanges out there, such as: