CREX24 Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker in this CREX24 Review.
CREX24 Review
CREX24 is yet another cryptocurrency exchange targeting Russian-speaking clients. It was set up in 2017 and offers trading in cryptocurrencies for fiat currencies and cryptocurrencies for cryptocurrencies. The available tokens are the following: BTC, LTC, DOGE, DASH, ETH, ZEC, XMR, XEM, GAME, BCN, DGB, BCH, ETC, BTS, XGOX, Monero and BTG. They can be traded for each other. Additionally, Bitcoin can be traded for USD, EUR, JPY, CNY and RUB, Digibyte can be traded for euros and XGOX – for USD. And vice versa. But, trading in cryptocurrencies vs. fiat currencies is not available for clients in the EU and the USA. They can only trade in cryptocurrencies.
According to CREX24’s post in Bitcointalk, it is planning to add Ripple to the list within 2 months.
CREX24 Advantages
– Fees. CREX24 has a tiered fee structure, depending on the client’s trading volume in the last 30 days:
– Platform. CREX24’s trading platform looks quite nice and offers what the more advanced traders would need. The platform includes charts, indicators and other analysis tools by TradingView, an order book, trading history and markets list. This is in stark contrast with some exchanges who only have a buy and sell options and no other features.
– Payment options. CREX24 offers several very handy payment options for fiat currencies: Bank cards, e-wallets (Skrill, WebMoney, Qiwi, etc.) and electronic payment platforms (Neteller, Payeer, etc.).
The exchange has set token limits for minimum fiat deposits and withdrawals: USD1.5 and USD3, respectively.
– Coin listing. CREX24 accepts other coins. For the purpose, they have to be listed at coinmarket.cap, and to provide a liquidity, until traders start providing it themselves. The cost for adding the coin to the site is 0.03 BTC (or the equivalent of 0.03 BTC).
– Coins. CREX24 has a pretty good selection of altcoins on offer and includes some really obscure ones. But, considering that it accepts listing applications of altcoins and the requirements are not very strict, it seems that anyone can have their coin listed.
– Security. CREX24 offers the standard two-factor authentication and encrypted connection.
– Anonymity. There is an option for client verification, but it seems it is optional. Sadly, we could not find more information about the conditions and requirements.
CREX24 Disadvantages
– Location. It is highly likely that CREX24 is based in Russia and obviously accepts clients from across the world, except the USA and EU (for trading in cryptocurrency vs. fiat). On one hand, the world is wide, but on the other – those two regions are home to more affluent people who have disposable income and are more likely to engage in trading in financial instruments.
– Leverage. CREX24, like the vast majority of cryptocurrency exchanges, does not offer leveraged trading. There is a handful of major platforms who have this option, but, generally, it is easier for clients to sign up for an account with a regulated forex broker who offers CFDs on cryptocurrencies for trading on margin. There are quite a few of those and trading with a forex broker has its benefits, such as more advanced trading platforms and good regulation.
– Information. The information on CREX24’s site is quite sketchy. We got most of the information provided in this review from the forum Bitcointalk, where potential clients are asking the exchange owners and developers various questions and their answers.
CREX24 is a relatively new and still small cryptocurrency exchange that caters mostly to Russian-speaking clients. It does not stand out with a lot among its peers, but has some advantages that we quite like. For example, the numerous fiat payment options and the possibility to pay with card. The fees are also quite favorable. The trading platform is pretty good as well and has additional features, charting and analysis tools and indicators. The number of tokens on the exchange is quite impressive, but this is mostly thanks to the option to have your coin listed.
What we don’t like is the fact that trading of cryptocurrencies for fiat is not available for US and EU clients. We also disliked the fact that the information on CREX24’s site is quite insufficient and we had to look elsewhere for some crucial details for our review. Others we could not find at all, like the deposit and withdrawal fees.
CREX24 Review Conclusion
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