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The user interface is easily one of the selling points of Mercatox as the platform is intuitive and has a convenient design. It can appeal to experienced traders and to novices, as well. Though Mercatox is established in the UK, but it is not regulated from FCA. The platform is not complying with trading standards and regulatory policies. Trading with the unregulated platform would also reduce investor’s potential to get funds from any insurance company.
I used MERCATOX to purchase some Bitcoins so I can invest at WolfOfCoinStreet.com and for mew everything went well. They r thieves…didnt allow me to login although i used 2fa..dey stole my money…i telling u d truth guys dont u ever dare to use dis mercatox..ull regret.. One or the other way mercatox will scam you just like they did mercatox review to me. Well, here’s something you need to know about this exchange. 5 minutes ago I withdrew funds from the platform and again, without any problems. The listings that appear on this page are from companies from which this website and Bankrate may receive compensation, which may impact how, where and in what order products appear.
Mercatox and Gemini can be compared in the scope of their offerings, but Mercatox offers even less crypto financial services than Gemini. An advantage for high volume traders will be the volume-tiered fees at Coinbase, since Mercatox does not differentiate between liquidity providers and liquidity takers. The most significant difference would be in terms of reputation and safety. Coinbase is a public US company and offers transparency into its industry-leading security along with its brand reputation, while Mercatox is not, though US users are not explicitly banned from using it as per TOS. Coinbase is better in all aspects of functionality and range of trading coins and products offered if compared to Mercatox.
However, the list is updated regularly with new possibilities like the ability to sell your points likely to be added soon. One can directly contact the exchange to see the full list of supported countries. 68% of retail investors lose money when trading CFDs with this provider. Once you fill the required data you need to press the Log in button. Following the login, a new screen will permit users to select any protection method that you like the most. The user can easily turn off the protection from profit settings.
Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. With the platform, you can set the order type, the price and the amount as well as the direction of the trade. Once executed, you can view the order history in the order book window. And with margin trading, Mercatox also give you the option to be a lender to other traders. Withdrawals are available with fees applied to them however the fees are quite reasonable and match the average of the market. Some reward options are set in place to reward clients who spread the word about the broker.
What sets Mercatox apart
Mercatox meanwhile keeps a flat 0.25% with no incentives to reduce this. Kraken is accessible in 48 US states with KYC and is regulated and licensed by FinCEN in the USA, while US users can also use Mercatox but it is not regulated nor can be deemed as entirely trustworthy. Mercatox has noted some past attempts to hack user accounts by third parties and encourages users to use strong passwords and opt for 2-FA to prevent hacking. The process to verify an account requires KYC procedures that involve the verification of ID, selfie, and other identifying features. We have already showcased how dedicated the platform is to protecting users’ funds.
Companies can ask for reviews via automatic invitations. Claim your profile to access Trustpilot’s free business tools and connect with customers. Don’t use this company if you want to access your account. Withdrawals are generally quick on Mercatox, but withdrawals take a little longer than usual if the network is busy.
After funding, you are free to trade more than 100 cryptocurrencies. With its proprietary web-based trading platform, traders can easily set the price, order type, and the amount combined with the direction of the trade. The platform permits traders to view the transactions history in the order book window. Margin trading is also available on this platform and it permits traders become a lender.
Mercatox Margin Trading
Users can store all the supported crypto coins they purchase from Mercatox and hold them until they are sold. However, there is no taking away the fact that Mercatox lists a variety of crypto tokens and users have access to some obscure altcoins that would be hard to find on other exchanges . The platform can also be accessed from anywhere around the world. Mercatox doesn’t clearly state how they protect user funds. However, they do encourage users to turn on two-factor authentication to increase the safety of their accounts.
MERCATOX, if you are ethical and you care about your clients and their money and you are watching…..PLEASE, PLEASE, COMMUNICATE with us and start sorting all of these issues out. Let us have a telephone number and speak with a person rather than have a silent help desk. Please respond to all helpdesk messages so that these issues get resolved. Lastly, I would like anyone who is considering this exchange to be aware of this situation as hundreds of potential clients could be placed in exactly the same situation that I and many others are in with this exchange.
What is Merxatox Exchange?
In markets with high liquidity, market orders usually get filled instantly. The chance that the market order is not going to get filled is very little. The final price can depend on the moment when the order gets filled. Theoretically, Mercatox can be used in most countries as the terms and conditions don’t point to any country as prohibited.
Kraken offers margin trading at up to 5X leverage even for US investors and several other margin offerings, which is a win over Mercatox’s unclear and unregulated margin or leverage offerings. Simply put, US users may prefer Kraken for its regulatory compliance and strong track record that make Kraken one of the best and most highly reputed exchanges on the market. Mercatox is a relatively simple https://forex-review.net/ exchange with a core set ofmarketofferings, with 174 coins and 277 trading pairs offered, with both spot, margin, and crypto-to-crypto trading pairs. The exchange does NOT require KYC identity verification or document protocols to be completed for use of the exchange. Note Mercatox only allows crypto-to-crypto trading, with no functionality for fiat deposits or withdrawals and is not regulated.
- It means that on the other side of things you can be a lender.
- That offers its clients more than crypto trading services.
- However, if traders wish to execute a trade on Mercatox via their mobile phones, they can do that by logging on to the platform via the web browser.
- The UI definitely needs some work, and there is a lot of information missing, but each section is organized and often includes step-by-step picture walkthroughs.
- Mercatox also has a support email you can reach out to if the support center isn’t helping.
- Still useful in its own right, but it’s by no means a traditional news aggregator.
Exchange order books are visible to users and clearly laid out for both buy and sell orders, as well as the exchange’s trade history. However, only basic limit, market, and stop orders are present. Mercatox is a new platform that began operation as a crypto exchange, and it has a few flaws like slow customer support, limits on withdrawals, etc. Nonetheless, the platform should look into these issues and work on these loopholes to gain more trust from customers. These limits depend on the currency to be withdrawn or deposited. According to Mercatox, verified users can withdraw an amount worth 5 BTC per day, while unverified users can withdraw only up to 0.5 BTC worth amounts.
Other Centralized Exchanges
He holds a bachelor’s degree in international business from Saimaa University of Applied Sciences. However, the platform does not hold customer funds in the separate account according to the policies of regulators. Coinbase, on the other hand, works according to regulators policies.
Sometimes, the customer service doesn’t provide even a formal response to queries. The same goes to efforts to reach out to the support agents via official social media pages of Mercatox. Two-Factor Authentication on MercatoxHowever, for higher withdrawal limits, one has to verify the account by uploading two pictures of their ID and an official document containing the personal address.
Where Is Mercatox Located?
Mercatox is convenient and advantageous platform for trade, exchange of various currencies, which can be used by both experienced… However, as it is a new platform that has just begun its operations as a crypto trading exchange, Mercatox has some flaws like slow customer support, limits of withdrawals, lack of proper information on its website, etc. Thus, the platform should look into these matters and work upon these loopholes to add more credibility and gain customers’ trust. The program was launched to reward points to those users who help promote the platform. Margin trading on Mercatox is inbuilt in a basic trading interface.
This is much like a crypto copy trading platform but a bit more simplified. The only way to deposit money on Mercatox is with cryptocurrency to your wallet on the exchange. The minimum deposit limit is BTC 0.0001, the minimum withdrawal limit is BTC 0.001, and the maximum withdrawal limit is BTC 5 daily if you have verified your identity.
The users can then use the login credentials and select any protection method of their choice in this step. Account creation on Mercatox is very easy, and all that the users need to do is visit the official website of the platform and click on the green “Sign Up” button. They will be immediately directed to a page bearing a simple registration form. Users must fill in that form with basic details like email, phone number, and country of residence.