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FinexBOX Review – Is FinexBOX Scam or Legit?

FinexBOX Exchange Rating
Account Types9.4
Trading Speed8.9
Customer Service9.1
Safety9.2
9.1
Conclusion
Read our FinexBOX review and learn why we recommend this exchange for online trading and why it is not a scam, learn all you need to know in this FinexBOX review before you sign up with the exchange.

FinexBox Review

FinexBOX logo

The last couple of years have witnessed the introduction of several movements and one of the leading trends in online trading. Times when investors and traders had to be physically present at trading firms before trades can be executed, is over. What we have today is traders and investors trading at the convenience of their homes and offices due to the emergence of online trading. And this achievement is made possible as a result of advancement in technology merged with the capabilities of the internet.

Traders and investors are now enabled to trade and monitor the financial market anytime and any day seizing various opportunities that show up. Speaking about opportunities, the financial markets most especially the cryptocurrency market is filled with so many opportunities that it has become difficult for investors to ignore.

The opportunities present are so alluring that various exchange platforms have recorded a high influx of investors into the cryptocurrency market in the past months as a result of its vast potential gains. However, it is also important to note that the cryptocurrency market is not without its risks as its decentralized nature and volatility are still a major concern to lots of investors and financial analysts.

As a result, we propose that new investors should carry out proper research into the dynamics of the cryptocurrency market to have a profound understanding of how the market works. And for investors that are already in the crypto space, the adequate market analysis must be done before any execution of trade to curb the loss of investments.

For new investors and traders looking to invest in the crypto market, the first and fundamental step to take is to sign up or register with a crypto exchange platform. Talking about crypto exchange platforms, they are a digital marketplace that enables investors and traders to buy and sell various digital coins in the cryptocurrency market. Crypto exchange platforms such as FinexBox assist investors to get the best out of the crypto market by providing the necessary support, and trading tools needed. 

You might be thinking that choosing an exchange platform is a straightforward and simple process but it’s quite the opposite. The crypto market is filled with a lot of exchange platforms that it is now difficult to identify decent exchange platforms from scams and mediocre.

What we have in the crypto market today are crypto exchanges advertising themselves to provide the best trading services and features to traders and investors. Most of these advertisements turn out to be false because many exchange platforms fail to provide services up to the expected standard and on the other hand, some of these exchanges are discovered to be scams that are just looking to prey on inexperienced investors.

However, with investors doing their own homework and evaluating the primary features of various exchange platforms, they can make an informed decision and choose a crypto trading platform that best caters to their trading style and meets all their trading requirements.

To make this research easier on investors and traders, we will be making reviews of various exchange platforms in the crypto market so that investors don’t have to spend more time researching for a respectable exchange platform. Talking about good exchange platforms, a good example is the FinexBox exchange platform.

FinexBOX website

This is the FinexBox review. We’ll be explaining in detail its incredible features and benefits it offers its clients so you can be able to make an informed decision after reading through this review.

Exchange PlatformFinexBox
Websitehttps://FinexBox.com
Withdrawal Fee0.002%
Trading Fee0.10%
Trading platformTradingView, Mobile App, and Web-based platform
Trading assetsMonero, Bitcoin, Ethereum, Litecoin, Ripple, and so on
Method of PaymentBank Wire Transfer

The FinexBox exchange platform is a peer-to-peer crypto-products exchange platform that was founded in October 2018 and registered in the Republic of Seychelles. FinexBox has its headquarters established in Singapore where it conducts its blockchain operations and businesses to serve its clients across the globe.

FinexBox aims at offering a safe, efficient, and stable matchmaking system of trading to its customers all over the world. And the exchange platform does this effortlessly by making use of the latest advanced technology, coupled with reliable and stable management while offering 24 hours online support and services to its clients.

FinexBox also operates as a coin-to-coin trading platform that aims to offer the best services at the global market and can perform full-featured spot trading for most cryptocurrencies and digital assets such as EOS, Ripple, Monero, Bitcoin, NEO, Ethereum, and lots more. Let’s look closer at the features and benefits offered by FinexBox.

Trading Conditions

The trading conditions offered by FinexBox make it a very competitive exchange platform in the crypto market. The exchange platform lists about 245 coins and has a total of 340 currency pairs on its trading platform. This gives investors enough flexibility to diversify their investments while also managing investment risks.

In terms of liquidity, the FinexBox exchange platform does quite well as it records a daily trading volume of approximately $165 million on its trading platform. This implies that a lot of money is being traded on the exchange platform which results in investors making considerable profits.

To further give the best to its clients, FinexBox introduced Margin Trading. Margin Trading gives investors leverage of about 3.3x by giving investors while access to the P2P funding market. There’s also Margin Funding offered by FinexBox. Margin Funding offers funds to investors and traders who would like to trade with leverage, however, Margin Funding is exchanged on a different order book with various periods and rates

Commission and Fees

It is normal in the crypto market for exchange platforms to charge various commissions and fees on trading activities such as trade execution, and withdrawal/deposit of funds performed by an investor. However, what won’t be normal is for exchange platforms to charge incredibly high which is often a strategy used by scams exchange platforms to rip traders of their amassed profits.

For investors and traders, low commissions and fees are sweet melodies to their hearings and that is why they are always on the lookout for exchange platforms that charge commissions that are quite low or at least go in line with the industry’s average. Generally, investors won’t pay more than is required to have access to the crypto market and that is why FinexBox is popular among investors because it offers great services at a low cost.

FinexBox Trading Fees

All exchange platforms charge a trading fee on every trade executed by an investor or trader. For many exchange platforms, the trading fee is divided into the takers fee and makers fee and charged at different percentages. While other exchange platforms do charge the takers fee and makers fee at a flat rate.

The FinexBox exchange platform charges a flat rate for both the takers and makers fees. The flat rate for

both the takers and makers fees are set at 0.10% which is significantly lower than the industry’s global average that is roughly 0.25%

It is vital to note that some exchange platforms operate using flexible trading fees that reduce as trading volume increases. This implies that investors enjoy low commissions with these exchanges when they trade in high volumes.

FinexBox Withdrawal Fees

Exchange platforms charge withdrawal fees on every withdrawal made by an investor. For the FinexBox exchange platform, the withdrawal fee charged unlike its trading fee is considerably high. A withdrawal fee of 0.002 BTC is charged on every BTC withdrawal. While that might look insignificant, it is way above the industry’s average of 0.0006BTC charged on every BTC withdrawal made.

Trading Platform

The trading platform offered by a crypto exchange platform is an important feature to evaluate before choosing an exchange platform. Trading platforms are software algorithms that run and govern the overall trading operations of an exchange in the crypto market. The trading platform employed by an exchange could be the primary difference between making profits or loss. And this is why investors shouldn’t make a compromise on trading platforms.

In choosing a trading platform, you must ensure that the trading platform offered is of top quality offering a smooth user experience, user-friendly, simple, and straightforward to navigate.  The FinexBox exchange platform understands how crucial the trading platform is and as such offers a web-based platform, Trading view, and a mobile app to its clients so they can choose one that best suits them or better still combine the three.

All the trading platforms offered by FinexBox are highly user-friendly, easy to navigate, and suit the needs of various investors regardless of their trading experience. For the web-based platform, it requires no download or installation to use, a simple login to their websites gives access to the web-based platform. With the web-based platform, investors can view their positions and orders, check price alerts, change order properties, execute trades and so much more in simple processes.

FinexBox further integrated TradingView to give its clients the necessary trading tools to analyze the crypto market before executing trades. Charts can also be downloaded and saved on the TradingView for offline reference and analysis. In the case of the mobile app, it was developed to allow traders to execute trades and monitor the crypto market on the go. The mobile app is well compatible with Android OS and iOS.

Withdrawals and Deposits

The way investing works, an initial capital has to be put down so it can accrue significantly and this goes the same with investing in the crypto market. So after signing up with an exchange platform the next step to take is to deposit an initial capital investment.  With this investment capital, investors are given entry to the crypto market to trade various digital coins against one another.

Also, since the whole idea of investing in the cryptocurrency market is to make and amass profits, investors show more interest in withdrawals and need to be guaranteed that they get to withdraw their funds anytime with no complications. This is why exchange platforms make available various methods of payment to foster an easy process in withdrawing and deposit of funds.

When it comes to the FinexBox exchange platform, just one payment method option is offered which is the Bank Wire transfer. And even though FinexBox makes available just the Bank Wire Transfer, investors still can’t deposit per withdraw using credit/debit card. FinexBox offering just a payment method option does not give the needed flexibility and comfort investors desire in terms of deposit and withdrawals.

Customer Support

One of the indications of a decent exchange platform is the customer support it offers. It is not lost on exchange platforms that trading itself is a difficult task and traders need all the support they can get so if a crypto exchange platform is not offering customer support services that are decent enough, the exchange isn’t worth taking a shot on.

FinexBox understands the reality of the crypto market and the entirety of trading itself that it can sometimes become quite frustrating and daunting most especially when unforeseen situations arise. In times like this traders and investors fall back to their exchange platforms looking for answers which a decent exchange platform will surely provide.

The FinexBox exchange platform established a team of professionals in high-frequency algorithmic trading, web development, and finance to ensure that the system is running smoothly and also be ready to proffer solutions to clients’ requests and complaints promptly and effectively. FinexBox has also built a community of traders who help out one another in difficult times and offer various ideas and analyses of the crypto market.

Clients can contact support agents and representatives via emails and on various social media platforms. All contact information is made available on their website.

Final Thoughts

Considering the many incredible features offered by the FinexBox exchange platform, we can conclude that it is decent enough to meet the trading needs of investors and traders. However, the question left to be answered by you only is if it suits your trading style and needs and with this review, we hope you’ve been able to come to a conscious decision about the exchange platform.

Adebayo Owotunse (Nigeria)

Adebayo Owotunse is a versatile writer who has written hundreds of crypto articles for dozens of agencies across the years. He is now also the newest addition to the Tokenhell writers team.

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