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Apr 16, 2021

Mercatox Cryptocurrency Exchange Review 2022

Nonetheless, the trading volume on most of them is not impressive, to say the least. This website does not provide investment advice, nor is it an offer or solicitation of any kind fbs forex review to buy or sell any investment products. This compensation should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews.

Some venues charge differently market makers and market takers, and it is not uncommon to set a trading fee only to market makers. Unlike other exchanges that don’t set limits on minimum and maximum amounts, Mercatox imposes restriction regarding the amount. They have set minimum deposit level which differs from crypto to crypto. For Bitcoin’s, the deposit must not be less than 0,0001 BTC. Mercatox is a product of Mercatox LTD, a company based in the United Kingdom.

Any large amount for automatic withdrawal is not allowed and is processed manually. The margin trading feature is also available on the platform to take a leveraged position in the market. And, the charting solution is provided by TradingView, where you can analyze all the price action effortlessly. For the top five cryptocurrencies, the below rate gives an indication.

Went to Mercatox to buy INV,so difficult to understand. My wife who has a computer degree couldn’t navigate site would not let us place a market order. Sold us 2 Inv worth 15 cents for 2 Ethereum worth $1,200.00 Site is so poorly made the worst I have seen. I contacted payeer, and they told me that the operation had been done and that I communicate with mercatox support. They could only add different statistics for your account like how much do you have in USD/BTC, how much total and on orders too.

Here, you can find all the major cryptocurrencies as well as the lesser-known alt-coins with huge potential. Mercatox is a UK-based multi-functional cryptocurrency exchange that was launched in late 2016. It is consistently ranked within the top 100 exchanges by trading volume at coinmarketcap. With its wide range of services offered on the platform, Mercatox is a new financial market in the digital world. Many payment methods like Perfect Money, OkPay, Yandex Money, etc. and fiat currencies like USD, EUR, and RUB are supported by Mercatox.

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Also they think they can keep your funds if you dont deliver, either way they think its a win win for them. How on earth can someone be so dumb as to looking for ways to scam fellow men. Still to this day cannot pull it out or trade it to another token. Customer robot email support says they are working on the issue and will let us know when it is fixed.

This will help them to carry on with their franchise partnership. This can create a problem for a lot of them as most of the people rely on credit cards for making the payment. P2P Exchange – Peer to peer exchange is a must go to option and with the help of this, a lot of things in the world of crypto has become easier than the usual. In this case, in-between links to share within the contacts and so on to peruse ahead. Receive the latest news about our cryptocurrency education courses, events, and guides. Trading comes with a high risk of losing money rapidly due to leverage.

The platform is available as a WebTrader that can run directly on most modern web browsers, including Chrome, Safari, Firefox, and Edge, without the need to install any software. The platform provides charting tools powered by TradingView Day trading and allows you to set your preferred order type, price, and amount, as well as the direction you want to trade. With the platform, you can also trade on margin, which means that you can borrow, as well as lend to other traders.

If you are a verified account holder, you can withdraw up to 5 BTC per day. Every exchange has a unique dashboard and trading view and it is up to the use to really decide which one works best for pepperstone canada them. However, you will find that most trading views are the same in certain this such as the visibility of the order book, price charts of selected cryptocurrencies as well as the order history.

Pictures and an official document containing the personal address. The user gains access to up to 5 BTC withdrawals in 24 hours by verifying the account. There are different modes using which you can conduct your payment on the mercatox platform.

With numerous hacking attempts that have been implemented the platform has managed to withstand the attacks with their security system and that says a lot in itself. Their “customer support” Day trading is an absolute joke, and will not answer your questions. AND they will charge you literally a million of the coins you are trying to withdraw/trade depending on what coin you have lol.

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However, as you can only trade cryptocurrency with Mercatox and the platform handles no fiat currency whatsoever, it is not subject to any regulatory requirements. The fees you pay for moving funds around will depend on the cryptocurrency you choose. Whilst the platform itself does not detail any charges, each currency will have a small fee for any transactions. If you need additional information, then you’ll find it in the footer of the main page.

  • Please do not put your coins in the mercatox or any UK company without an FCA license.
  • That being said Mercatox does not provide enough information about how their security system is setup.
  • The platform is basically established to match buyers with sellers.
  • Please note that it is not possible to deposit FIAT currencies on the site.
  • Mercatox offers multilingual customer support to cater to a wide user group.
  • Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs.

Lack of fiat options and higher withdrawal fees is also not doing them any good and they need to keep up with their competition by introducing leveraged tokens. E-wallets transactions are processed immediately, but for cryptocurrencies at least two confirmation has to take place before the funds are credited to the account. On the date of last updating this review the 24-hour trading volume of this exchange was around USD 36 million, according to Coinmarketcap. The platform launched in October 2015 and on 18 July 2019, they informed on its website that it had 579,071 users. These users had in aggregate executed 17,537,044 deals totally worth 651,791 BTC.

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We are not responsible for any loss caused by any information provided directly or indirectly on this website. The world of crypto might seem a little complicated for someone who is just starting up to be a part of the crypto trading co… Even though the firm is based in the UK, the service can be accessed by citizens of most countries around the world, the US included. Do you have any personal experience with Mercatox platform? If yes, then share your opinion with our readers by commenting below.

Mercatox has a multi-lingual platform that is offered in three different languages, English, Russian, and Chinese, which helps it reach the maximum part of the world. By putting together a compelling chargeback strategy from beginning to end, victims of online fraud have a relatively high probability of recovering some of all of their funds lost. You are not the first and you likely won’t be the last. Mistakes can happen even with the most cautious of investors, and should be used as a learning opportunity. If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that they are unregulated and should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction.

68% of retail investors lose money when trading CFDs with this provider. The Mercatox platform has never become a victim of hacks that are frequent in emerging crypto markets. It uses https://forexaggregator.com/ two-factor or two-stage authentication in order to enhance the security of their trading platform. Despite several attempts, the platform remains strong enough to tackle hackers.

Wrapping Up Mercatox Review

Here you can access information about the company, the terms and conditions, the platform news fee and, more importantly, the customer service options. The Mercatox trading platform is fairly streamlined – some might even call it basic – and there are no frills or special offers. Once you have signed up to the account then there is little left to do but start making trades. Sadly, Mercatox does not support credit card or bank transfer deposits, and the trading volumes on many currency pairs are quite low. Some of the main sections of the trading platforms include the order book, the trading history window, and a chat room.

There are certain specifics you should take into account, however most of them are regulated and provide leveraged trading. You should be aware that the risk of loss in trading or holding Digital Currencies can be substantial. As with any asset, the value of Digital Currencies can go up or down and there can be a substantial risk that you lose money buying, selling, holding, or investing in digital currencies.

The multi-functional platform is suitable for both beginner and experienced cryptocurrency traders. Unlike many exchanges, they adore the decentralisation to an extreme level and clients can even withdraw from this platform without having to complete KYC as well. This is a load of crap and they scam people this way so they can sell our data for the corrupt company.

Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold The Forex Geek and any authorized distributors of this information harmless in any and all ways. Furthermore, Mercatox has not had major hacks frequently recurring hacks as the crypto market has been developing.

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It offers a wide range of crypto assets and other services like margin lending, multicurrency wallet, and quick payment. Mercatox is a UK based cryptocurrency exchange that launched in October 2015 and currently accommodates more than 280,000 users on its platform. The platform is multifunctional in that it not only provides the typical trading services, but it gives its users a other useful services to indulge in. Other services that Mercatox provides include; a lending platform that users can enjoy, an e-wallet for users to store their multiple digital currencies as well as payment services.

How Do You Withdraw From Mercatox?

The platform provides charting tools powered by TradingView and allows you to set the order type, price, and amount, as well as the direction you want to trade. Choosing the right cryptocurrency trading platform plays a vital role in enhancing returns from volatile cryptocurrency markets. This guide will help crypto investors in understanding the key features and functions of this platform along with its regulatory status.

It’s worth pointing out, before we get into the details, Mercatox is not available in the UK. We recommend heading over to our review of eToro if you’re residing in the UK and looking for a trusted broker. Compared to any other crypto exchange in the market, Mercatox offers a much-simplified view and ease of operation. It successfully meets the diverse needs of customers and makes cryptocurrency trading stress-free and more accessible. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money.