UPDATE 21 October 2019: In an email to its users on 21 October 2019, the exchange declared that they were going into something they call “hibernation mode” and that they were focusing on the FX-branch of their operations instead. All users were recommended to withdraw their assets from the platform no later than on 31 October 2019. The email also said that they might very well open up the crypto branch of the operations in the future.
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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 Trade.io consists of four parts: general info, fees, deposit methods and security.
Trade.io is an exchange that markets itself as a “better, smarter, faster” crypto exchange. They claim to have “lightning-fast execution”. The platform also has a fully-customizable interface.
Trade.io is an exchange from Hong Kong. Hong Kong is the country in the world where the largest number of coin exchanges have their homebase. Also, the world leading exchanges Binance and KuCoin have their base in Hong Kong. Other exchanges from Hong Kong include OKCoin, OKEX, BCEX, Tidebit, BTCC, Bit-Z, Bitfinex, Coinsuper, EXX, Panxora, CoinEx and FatBTC.
The exchange also highlights as advantages that it has an easy KYC-process, low fees, a wide variety of cryptos and 24/7 support.
As far as we are aware, US-investors may trade here. Any US-investors that want to trade here should in any event form their own opinion on any issues arising from their citizenship or residency.
The platform launched in July 2018 and has since then not yet really managed to achieve a proper liquidity. On the date of first writing this review (31 March 2019), the 24 hour trading volume here was only USD 1.1 million. On the date of last updating this review (17 October 2019), the trading volume had even decreased to USD 233,000. Accordingly, the order book depth could definitely be improved here.
Liquidity Pool and OTC-function
Trade.io also offer a liquidity pool, and an OTC-trading function. The OTC-trading is currently disable but will according to information on the website resume activities in mid-April 2019.
As for the liquidity pool, it is only applicable to holders of TIOx-tokens. TIOx tokens can lock their tokens and by doing so also receive interest on the amount locked.
The primary interface for the liquidity pool looks as follows:
Trade.io 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. This is the trading view at Trade.io:
Trade.io Trading fees
The most important lesson to learn when picking a crypto exchange is that you must always check the fees.
This exchange’s trading fees for takers are 0.10%. This fee is slightly below the industry average. The industry average is arguably around 0.25%. Also, this exchange does not charge any fees for makers, thus promoting the liquidity at the exchange. This is a very strong edge in the market and is especially beneficial for the investors not interested in picking up existing orders from the order book but rather prefers to “go fishing” with maker-orders.
For a long time, industry average has been 0.25%. Today, however, we see a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead, just like Trade.io. To summarize, this exchange charges taker fees that are in line with – or below – the global industry average (depending upon which industry average figure that you use). Their maker fees are far below the industry average.
Trade.io Withdrawal fees
Trade.io charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This is substantially below the industry average, as the industry average is 0.000812 BTC per BTC-withdrawal. Trade.io’s withdrawal fees are thus roughly 40% lower than industry average.
All in all, the fees at Trade.io are competitive.
On 24 May 2019, Trade.io happily announced in an email to its users that they had finally enabled fiat currency deposits. You can deposit fiat currency through a variety of bank transfers, international bank wire transfers (such as the SEPA-transfers) or credit card deposits.
The following fiat currency trading pairs were introduced:
Moreover, you can also through the exchange’s payment service provider make deposits of Malaysian ringgit, Thai baht, Vietnamese dong and Indonesian rupiah. This is naturally very helpful for people from those countries.
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. This exchange only received an F-score in this test. An F might seem scary, but it should be noted that out of all exchanges in our Exchange List, a majority actually received just that: F.
Finally, the exchange reviewed above has a large number of cryptos you can buy and sell. If that is an important factor for you in your choice of exchange, you could also check out the following exchanges: