Blender
Exchanges & BrokersNewsReviews

TimeX Exchange Review – Is TimeX Exchange Scam or Legit?

TimeX Exchange Exchange Rating
Account Types8.9
Trading Speed9.1
Customer Service9.3
Safety9.5
9.2
Conclusion
Read our TimeX Exchange 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 TimeX Exchange review before you sign up with the exchange.

TimeX Exchange Review

TimeX Exchange logo

Information is something that has been found to be easy to get in these times we live in. Investing in the financial market is a very delicate path to tread. Information is crucial when you are involved with the financial market. Therefore, it is expedient that you do your homework and have twice as much information when you are about to enter into a trading partnership with a financial trading platform. Which is why we are doing this TimeX Exchange review, so you can know all you need to know about their platform.

Normally, a person is required to have an account with an exchange platform or brokerage. It is impossible for an investor to have access to the financial market without signing up with an exchange company.

Most people expect that picking the right exchange platform is a walk in the park. It is far from the case here. Exchange platforms are so many on the internet that it is quite hard to differentiate between the true exchange platforms from the fraudulent ones. To not fall into the wrong hands, there are a few things to watch out for when you want to select an exchange platform.  There are some features that an investor has to keep an eye out for to know if a platform is genuine or not.

The first thing to look out for is the ease at which transactions and trades are executed on the platform. When you gain insight into this, you’ll understand the condition of trading, the leverages that are offered on the platform, and the commissions that are required from the exchange.

The financial instruments and trading assets that the exchange has listed on their platform is also an important factor to focus on. This is very important because some online platform do not have the trading assets that they touted that they have. This could be because they are either fraudulent platforms or they are just grossly incompetent.

The quality of services rendered by a platform should always be what an investor keenly watches out for. Also, whatever works for one person might not work for someone else. A trading platform has to meet your individual requirements

Also, an exchange platform should be able to adequately take care of the client’s constant need. An avenue for training, on how to watch out for support and resistance, the supervision of the account, execution of trades risk management, among many others. The platform also has to be the user-friendly enough to different kinds of traders ranging from, rookies to experts.

A very good example of an exchange platform is the TimeX platform. We have put together a comprehensive review of the TimeX exchange platform that will help you understand the platform’s operations. In this review, you will understand TimeX’s best features that qualify it as one of the best platforms to use. Once you go through this review, then you can make a decision on which exchange to use for your financial investment. 

BrokerTimeX
Websitehttp://timex.io
Trading platformWeb-based
Trading optionCryptocurrency
Minimum deposit$300
SecurityTwo-factor authentication (2FA), KYC (Know Your Customer) policy, and AML (Anti-Money Laundering).

Timex is a plasma based cryptocurrency platform that was launched in Australia, back in July 2019. A team who are lauded to be experts in the crypto space created it. The platform allows trading in the crypto currency like Bitcoin, Ripple, Tether, Litecoin, Ethereum, among others. Some altcoins can also be traded on the platform. TimeX is open to all persons, all over the world. It is a hybrid cryptocurrency exchange that based its structural design form Ethereum’s Plasma technology.

TimeX Exchange website

The Plasma based platform is known to be swift, secure and convenient. Its design is quite aesthetic and stylish and its response time is sharp. All in all, it has a good user experience rating. Its features are very suitable for both beginners and veteran traders alike. There is no lag or front-running when trades are made as they are efficiently matched.

The reason the platform was established was to create a suitable crypto trading experience for anyone who wants to trade. They acclaim to offer one of the best trading conditions to their clients all over the world.

Since TimeX was launched, it has seen a steady growth in its significant growth on its platform as it is fast become the go to decentralized finance platform that specializes in crypto trading.

So what makes TimeX stand out as a crypto exchange platform? Let us find out below.

·         Security Protocol

It is no secret that investors are now very careful of anything that has to do with online investments. This is as a result of various reported fraudulent activities and hacks that have sullied online businesses. The financial market is not impervious to hack attacks so it is not a surprise that investors are wary of it. So it is understandable that investors are looking out for the best exchange platform that can guarantee the safety of their investment.

Various exchange platforms have found itself at the mercy of attacks as they their level of security was not at the required level that could prevent and defend the system from third party interference. However, this is definitely not going to happen with TimeX.

TimeX was created to place its clients in the forefront, so it has invested massively in the security of its platform. Its security protocol is top-notch and the client’s personal information and funds are kept in utmost safety. Its security protocol is further enhanced with two factor authentication, making it hard from an outside party to mess with a client’s account. This ensures that the final authority for any login into the client’s account is given by the actual client. This way, a third party can only access the client’s account if the authorization is given, even when there is a compromise in the login password.

There is also a Know Your Customer policy as well as an Anti Miney Laundering regulation that requires the platform to report irregularities in a customer’s trading or transaction. This requires the platform to collect the information of its users for financial safety purposes.

·         Verification

All traders have to meet up with the minimum age of 18. This will be monitored by a verification system before your account will be activated.

·         Affiliate program

An affiliate program system was generated that allows clients to receive a percentage of the trading fee generated from the referral. All the client has to do is to generate a link that is unique to your account. The link can be shared on social media and friends on various platforms. The affiliate program is such that you receive a percentage of the trading fees down to the fourth level referral. This means that you will keep receiving for the referrals of your direct referrals, up the fourth person.

·         Trading assets

Exchange platforms put their clients in the forefront when it comes to trading. Digital assets are available for trades on the TimeX platform. The crypto market has become one of the most volatile financial markets in the world, if not the most. Investors are beginning to flock in at a very fast rate because of its relatively fast growth. One of the most volatile cryptocurrency is the Bitcoin. Next is Ethereum. These two assets seem to be the most invested on in the digital finance market.

The most dominant crypto coins are listed on Timex for trading. Bitcoin, Ethereum, Ripple, Litecoin, are present for trading on the Timex platform.

·         Trading platform

The trading platforms are created to oversee the activities of traders and investors alike. It is impossible to carry out a trading activity without a trading platform. This is why it is important to assess the trading platform along with the elements to existing on the platform.  Efficiency, smoothness and ease of use are key things users seek on a trading platform. The user experience has to be top-notch as the investor can take an exchange company to court for a simple glitch in the system. 

The Timex trading platform is extremely efficient and easy to use. It looks like a normal decentralized exchange. It is easy to understand how the platform as it is designed with the knowledge that the platform is catering for both the novice and the expert trader. The system is created in such a way that trades are matched without the risk of a lag that occurs on a normal digital exchange platform. There is also a walkthrough on how to use the platform efficiently. Trades that are typically as large as $25,000 AUD and above are subject to the monitoring of the OTC desk to ensure the optimal trading experience. It is also very easy to get information on how to trade better and also customize the platform and its tools to adapt to the investor’s taste, giving the user interface a sense of uniqueness.

·         Fiat deposits and withdrawals

Another thing that investors look out for is the ease of depositing currencies for trading. This can occur via bank deposits or card purchases. If a platform’s server takes too long to register your transaction, this could cause a discomfort for a client which could make the platform lose a potential client.

The Timex platform has a vast range of payment options for both deposit and withdrawal of fiat currencies. Australian traders have the option of using their personal bank accounts to fund their trading account. It is also possible to use a card deposit option for users that are outside Australia.

·         Customer Support

Another feature that traders and investor look out for before making the choice of the platforms to use is the customer support. If customer support is not available, investors can get overwhelmed and aggravated when unexpected issues arise. This can in turn cause the trade or investor to lose funds. Therefore, it is important for a user-centric digital platform to have a good customer support for its users.

This frustration can in turn lead to taking bad trades and ultimately leading to loss of funds so it will always be a good idea to consider the support offered by an exchange platform before going ahead to choose it.

The quality of customer support offered on Timex has been known to be of the best quality. The customer support representatives are people who are adept in the digital trading world and are also well trained in customer-user interaction. They have learnt to ask the right questions from clients and they use this information to solve the issues swiftly and efficiently. You can easily get in touch with the customer support representatives. You can get in touch with them via emails, phone calls and even other social media applications like Twitter, Whatsapp, and Telegram.

·         Simple Exchange mode.

With the maximum of $300, it is possible to purchase crypto on the platform without having to sign up on the Timex platform with the use of the simple exchange facility. This gives the users the ability to purchase with card and also receive digital assets to their personal wallet address. It is possible to make transactions in a higher amount range when the user creates a Timex account. They also have the option of using the wallet created on the Timex platform for crypto transactions instead of using an external wallet.

·         AUDT Stablecoin

Stablecoins are coins whose values are pegged to another stable asset. It could be a fiat currency or gold. This is a created in order to monitor the volatility that digital assets like the BTC and ETH cause in the financial market.

Users can also make transactions with AUDT, as well as USDT. AUDT is a stable coin that is backed by the Australian dollars on a 1:1 basis. AUDT is fully regulated by the Australian Financial Intelligence Agency (AUSTRAC). It is a fully compliant stablecoin.

·         Trading terminal integration

It is possible to use API keys to integrate a user’s Timex account to affiliate trading applications to have a seamless trading experience. You can use applications like TabTrader to have access to your TimeX’s order books at any time.

·         Powerful API

TimeX’s platform has an API feature that allows developers to build trading bots so that they can conduct high frequency trading. This allows users to see their trading strategies to be efficiently automated. This also promises speed in trades and is also very convenient. 

·         Trading View

The trading view is also an important thing to note for an intending user. On the trading view, you find the buy and sell option, the current price of various digital assets, along with the price chart. With TimeX, crypto transactions can be made instantly with the buy and sell box on the trading view. You can easily place orders for any digital asset you want right from the trading view. Users can see their transaction history on the trading view. The user has the choice of modifying the trading view to look how they want it.

·         Trading Fees

When a trade occurs, it is always between two factions. It occurs between the maker and the trader. The maker is someone who has the order pre-existing on the order book before the trade occurs. The taker is someone who places a matching order to that of the maker. Market liquidity is dependent on the maker’s orders. To be a taker, the user’s order has to match the maker’s. This takes away the liquidity created by the maker.

TimeX’s trader fees charged at takers are 0.50% per trade, while the maker’s fee pegs at 0.25%.  This is very much in line with the average trading fees that are consistent in the crypto trading world.

Conclusion

Many investors attest to the efficiency of TimeX’s exchange platform. It is lauded for its consistency and service reliability. Its offers are fair for all and sundry that is looking to invest as well.  The exchange platform’s trading options is very competitive, as its trading platform is very efficiently built. Its customer support is also relatively good, as they are very customer-centered. They are well drilled to ensure that the users have a seamless trading experience. It also promises a secure trading platform. There is little or no chance for your funds to be compromised by a third party entity. All in all, TimeX is built to cater for the average user’s needs swiftly and efficiently.

Through this review of the TimeX features and the exposition of the benefits of using their trading platform, we expect that you have enough information that will inform your decision on either making TimeX your trading partner or simply moving on to another platform.

If there are any doubts in your mind, it is best to visit the website and feel the user’s experience before you make a decision. It won’t hurt to try, will it? With TimeX designed to let you tailor the user interface to your taste, you might probably get hooked in the long run.

MubaShar Nawaz (United Arab Emirates)

MubaShar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close