There is a popular cryptocurrency wallet My Wallet, which is convenient for quick deposits and withdrawals. There is no work with fiat currencies yet, but the creators of the site are already thinking about changing the policy of the exchange on this issue. The service charges a very modest fee for services, its size is always the same, regardless of the volume of funds transactions.
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. These rewards are 2 types, the loyalty program, and the affiliate program which have 2 subdivisions inside that are 1st and 2nd level referrals. Mercatox charges a 0.25% fee per trade to both its buyers and sellers. Which is quite reasonable considering that resembles the average in the market. There’s also 0.25% per transaction on the exchange, which makes the trading fees with Mercatox competitive and reasonable.
Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Before deciding to trade foreign exchange or any other financial instrument or cryptocurrencies you should carefully consider your investment objectives, level of experience, and risk appetite. As three of its advantages, the exchange states that it has low fees, a loyalty program and an affiliate program. We will go into more detail on the fees below (see Mercatox Fees), but we can already here say that the fees are not low.
“User Agreement” – is the main document of the project, which provides information on the rules of trading activities, as well as the duties of clients and organizers. Each user must read the agreement before starting registration on the exchange site. We have listed above their minimum deposit requirement related to each coin. In some cases, if you send less than the minimum amount your funds will be lost.
Even though Mercatox is based in the UK it is not regulated by FCA. Without regulation there is a higher risk of potentially losing your funds. It also decreases the chances of an investor to potentially receive funds from insurance companies. Nevertheless, it is a company that has security measures to ensure the safety of its client’s funds so it shouldn’t be a problem.
This Mercatox exchange review will provide an extensive guide to crypto investors to understand the platform’s key features and functionalities and its current regulatory status. It seems that Mercatox had a good start but weakened its positions at some point. It looks like many users cannot receive responses from the support team. Many of the supported coins are not available for withdrawal due to maintenance.
- They take security measures to help safeguard your personal information from unauthorized access and disclosure.
- These orders get triggered only at the specified or better price.
- However, the exchange does encourage its users to setup two-factor authentication in orders to further secure their trading funds.
The fact that some users got stuck with useless coins is another point of criticism towards the platform. Margin trading on Mercatox is inbuilt in a basic trading interface. Usually, crypto exchanges have a separate section for margin trading. Another aspect that makes margin trading on Mercatox unusual is that leverage is taken from other traders, not from the platform. It means that on the other side of things you can be a lender.
I have my ETH coins stuck on the…
Users must fill in that form with basic details like email, phone number, and country of residence. Users of the exchange also have the option of voting on coins they would like to see added to the platform. The tokens that get the most votes are included in the exchange’s growing list of cryptocurrencies.
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The website lists all the supported cryptocurrencies so that the traders can select their preferred cryptocurrency trading pairs. The Mercatox exchange features a proprietary trading platform that is mainly web-based. Nevertheless, it’s also important to note that there are many complaints online from users who purport Mercatox is a scam after losing their funds on the platform.
Trading platforms – Is Mercatox legit?
After completing the procedure to confirm the identity of the trader, you can move directly to the trade. Mercatox is a cryptocurrency exchange that provides a multicurrency wallet to its clients. Users can easily withdraw funds from Mercatox by logging into their official website, which will direct them to the E-Wallet page of the exchange. Users then need to click on the ‘Withdraw’ tab, and the withdrawal options will appear on the screen.
How Do Investors Make A Deposit To Mercatox?
However, 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. By verifying the account the user gains access to withdrawals of up to 5 BTC in 24 hours. These figures vary depending on the currency to be withdrawn or deposited. The instant withdrawal limit in the BTC equivalent is constant. Verified users can withdraw an amount worth 5 BTC per day while unverified users can withdraw only up to 0.5 BTC worth amounts. Mercatox is a crypto-to-crypto exchange that doesn’t deal with fiat money.
There is another option to add a coin – direct payment, which can range from 0.5 to 5 Bitcoins. Administration reserves the right to personally introduce new crypto coins if it considers them promising. Many users complain that they cannot get a satisfactory response from the support team of the exchange for months.
If there are any complaints about cryptocurrency exchange Mercatox, we will definitely publish information on social networks. Each user is allowed to suggest a new token for the platform. Traders like the interface of the resource, and the Russian-speaking audience is satisfied with the fact that they can work with the platform in their native language.
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Trading itself is a risky business, so we can’t afford to increase these risks by trusting the shady platforms. In the following review, we will try to answer these vital questions. It is something we tend to assess on every site that we review. Our experts have combed through the support channels to ensure that all is well.
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. Actually, Mercatox platform is seeking to cover multiple areas of investing to expand their customer’s base.
There are plenty of trading options when you look at the best online brokers in the UK. Certain sites will specialise in one asset class while others tend to provide diversified options. All in all, we recommend that you read our online trading reviews here at Strafe.com to find the best platform mercatoc for your trading interests. Mercatox was founded in 2016 in response to the boom within the cryptocurrency market. Today, Mercatox prides itself on providing unfettered access to a raft of cryptocurrency pairs. Their mission includes providing instant access to a crypto exchange.