CEX.IO Review [2019] – A Safe, Proven Crypto Exchange

CEX.IO is a well-established cryptocurrency exchange that offers advanced features like margin trading. We review CEX.IO's security, fees, pros and cons, and more.

CEX.IO manages to balance the provision of an exchange platform with advanced services and an interface that is visually appealing, easy-to-use and accessible to newer crypto investors.

CEX.IO has been in the cryptocurrency business since 2013, starting as a cloud mining provider, and claims to currently have over a million users, ranging from “Bitcoin beginners to institutional traders.”

Here’s our CEX.IO exchange review for 2019

That said, CEX.IO does not offer all the features that some crypto traders expect from an advanced digital asset trading platform and it only supports a limited number of cryptocurrencies and trading pairs, so it definitely cannot satisfy the needs of all investors.

If CEX.IO sounds like it could be the right fit for you, then please read on.

CEX.IO’s time-proven stability and security

In this CEX.IO review we will cover all the key facts about the exchange, its main distinguishing features, the registration, and verification process, its fee schedule and then summarize everything we have learned with a quick pros and cons list at the end – where you can decide if it’s the best cryptocurrency exchange for your needs.

“Even when Bitcoin price is experiencing harsh times, the Bitcoin index is still hundreds (or at least dozens) times higher than that of a US dollar, Euro, or other fiat currency. If a trader can read charts and draw conclusions based on what he sees, if he can look at the market as a system and clearly see the trends playing a significant role in the Bitcoin price establishment, or simply if he trusts his intuition, then this person can easily join the trading lot. In this case, the opportunity to earn a pretty big sum is worth all the risk.”
CEX.IO Blog
CEX.IO Blog

Quick Facts

CEX.IO Facts Sheet
Exchange Type:Centralized
Fiat-to-Crypto:Yes
Crypto-to-Fiat:Yes
Crypto-to-Crypto:Yes
Number of Fiat Currencies Traded:4
Number of Cryptocurrencies Traded:10
Number of Countries Supported:150+
Number of Fiat Currencies Supported:All
Bank Transfers/Deposits:Yes
Credit/Debit Cards:Yes
Wire Transfers:Yes
PayPal:No
Exchange Wallet(s):Yes
Account Size Limits:No
Spending Limit Periods:Yes
Margin Trading:Yes
Trading Fees:0.25% or less taker and 0.16% or less maker
Deposit/Withdrawal Fees:2.99% deposit and 3% + $5 withdrawal for credit cards, 1% withdrawal for bank/wire transfers
Headquarters:UK
Incorporated:UK

CEX.IO Features

CEX.IO lists a number of key benefits and features it has to attract clients including a range of payment options, strong security, worldwide coverage, legal compliance, margin trading, reasonable commissions, cross-platform trading, advanced reporting, and high liquidity as can be seen in the screenshot below:

Screenshot of CEX.IO homepage – “Why choose CEX.IO?”

Let’s take a look at some of these features and others in a bit more detail.

Advanced Orders

CEX.IO allows users to place advanced order types, specifically limit and stop orders.

While this may not sound like much to the uninitiated, these advanced order types are essential for anything beyond the most basic investment strategies.

However, some variations of these order types such as a trailing stop that are not yet available on CEX.IO.

“If you’re a day trader, then you’ll need to know about stop-loss and take-profit points. These are the price levels where you are going to exit a trade. For example, if you think that the price of bitcoin has reached a support level that it has come to in the past and there are no signs that it will be able to break through that support and go lower, then you may want to place a buy order.”
CEX.IO Blog
CEX.IO Blog

Low Commissions

CEX.IO has very low, and simple, transaction costs. At 0.25% or less for takers and 0.16% or less for makers, CEX.IO is easily competing for the top spots in the industry for lowest transaction fees.

Low transaction fees mean more trading strategies become viable and your trades need to work less hard to make a profit.

Note: Maker and taker fees are a way to differentiate between orders that provide liquidity (Makers) and those that take away liquidity (Takers).

A market maker is placing an order that may or may not be filled. This standing order adds ‘liquidity’ to the market by adding more potential volume that can be traded.

A market taker, by contrast, is choosing from existing orders set by market makers and closing these orders down, thereby removing liquidity from the market by removing some of the potentially tradeable volume.

Since exchanges like more liquidity, as it attracts more traders to their venue, they are willing to reward market makers with lower, and sometimes even positive, transaction fees.

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Exchange Service

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Slick Interface

If you are new to crypto exchanges, then you probably can’t do much better than CEX.IO’s market interface.

Many newer crypto traders and investors may be intimidated by all the flashing lights and scrolling numbers of an advanced trading platform, however, CEX.IO’s interface is the right balance of simplicity and function.

Low Credit Card Deposit and Withdrawal Fees

The value of low deposit and withdrawal fees for credit card users is hard to overstate.

Many crypto investors highly prize the convenience and privacy of using their credit cards to make cryptocurrency transactions.

However, not all digital asset exchanges offer this option and those that do often charge extremely high fees for the privilege.

CEX.IO Low Fees

While not the most competitive in the industry, CEX.IO’s credit card fees (2.99% for deposits) are still well below the market average, and this is a major advantage to a huge range of crypto investors.

Note: You can find more information about buying cryptocurrencies with a credit card at CEX.IO and other recommended exchanges in our “How to buy Bitcoin with a Credit Card” guide.

Margin Trading

CEX.IO has its own margin trading platform called CEX.IO Broker which is currently in beta.

The platform offers cryptocurrency trading via contracts for difference (CFDs) and has advanced trading tools, technical analysis instruments, and different order types available.

Users will be able to trade Bitcoin and Ethereum with up to 10x leverage when the platform goes live.

CEX.IO Broker – Margin trading cryptocurrency CFD platform

CEX.IO Affiliate Program

CEX.IO allows its users to earn 30% of the commissions from exchange transactions for anyone they refer to the platform.

CEX.IO Affiliate Program

CEX.IO Listed and Tradable Cryptocurrencies

CEX.IO currently has 10 cryptocurrencies listed and available to trade on the exchange. This includes:

BitcoinEthereum, Bitcoin Cash, Bitcoin Gold, Dash, Litecoin, Ripple’s XRP, Stellar, Zcash, and Gemini Dollar.

Registration and Verification

CEX.IO’s verification process is among the most onerous in the industry.

Not only does CEX.IO manage to drag the industry-standard verification process of identification documents and proof of address out over more details and pages than its competitors, but it also requires additional selfies be uploaded for each stage and the provision of a tax identification number.

CEX.IO Proof of Identity

This excessive verification process continues with your payment card, with a number of additional photos being required, whereas most other crypto exchanges simply require your payment card details.

There is also a third level of verification for increased limits and services based on personal income and assets, but in this regard, CEX.IO manages to come closer to the industry standard.

Fees

CEX.IO has some of the best fees in the industry, both in terms of transactions and deposit/withdrawal fees.

Transaction Fees

CEX.IO’s transaction fees are 0.25% or less for takers and 0.16% or less for makers.

These fees decline toward zero based on your 30d trade volume.

For a breakdown of what taker/maker fees are, please see the note in the Features section above.

Credit Card Fees

CEX.IO’s deposit and withdrawal fees for credit cards are variables based on the supported currency used (USD, EUR, GBP, RUB) and the volume transacted.

You are encouraged to follow the link above to see for yourself in detail, but the most important numbers are the 2.99% deposit and up to 3% + $5 withdrawal fees for USD and 2.99% deposit and up to 1.2% + €5 withdrawal fees for EUR.

These are very competitive numbers, though not the best in the industry.

Bank Transfer Fees

The bank transfer fees are 0 for deposits in all currencies and 1% for USD and €1 for EUR withdrawals.

The €1 withdrawal fee is nominal and competitive with the best in the industry, while the 1% fee for USD withdrawals can actually be quite high for large sums, as many competitors will charge zero or flat rate for bank/wire transfers.

Pros and Cons

Let’s briefly examine how all these factors stack up for CEX.IO with a pros and cons list.

Pros

  • Slick interface
  • Good exchange for newer crypto traders and investors
  • Good credit card fee rates
  • Very good transaction fee rates
  • Well established exchange with 0% users funds theft
  • Good knowledge resources for people looking to learn advanced crypto investment and trading
  • Margin trading
  • Affiliate program

Cons

  • Low deposit and withdrawal limits for credit cards
  • Lacking features that professional crypto traders would expect from an advanced trading platform
  • Onerous verification process
  • Only 10 coins supported

Closing Thoughts

CEX.IO is an interesting exchange with some nice feature that will appeal to many cryptocurrency investors and traders.

CEX.IO – “Bitcoin exchange you can trust”

This includes its safe crypto cold storage, the fact that it’s well-established and never lost any users funds to theft, it has a mobile application, a 24/7 support team, and offers margin trading.

In addition, the low transaction and credit card fees make CEX.IO an excellent choice for anyone looking to buy Bitcoin or any other major cryptocurrency using their credit cards. The same can be said if someone wants to sell them, as long as they don’t mind the onerous verification process.

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