Exceeded

Score

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/10

ZooEX

United States

|

2-5 years

MSB License|

Suspicious Overrun|

Medium potential risk

https://www.zooexpro.com/#/index

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ZooEX
https://www.zooexpro.com/#/index
Influence
E

Licenses

FinCEN

FinCENExceeded

MSB License

WikiBit Risk Alerts

1
Previous Detection 2024-07-25

MSB License goes beyond their business with the licenses United States FinCEN (license number: 31000238071932), please be aware of the risk!

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Time Machine

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New Arrival

Company Name
ZooEX
Regulatory Status
Exceeded
Company Abbreviation
ZooEX
Platform registered country and region
United States
Phone of the company
--

User Reviews

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5 ratings

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RichardK
!!!! SCAM ALERT !!!! Zooex is a special platform made by criminals for stealing peoples crypto. If someone suggests you use it, they are definitely out to steal from you. Its a platform where they let you use it for a period of time (even with chat support) but once you exceed 12,000 USD or one of the platforms agents notifies them, they ghost you and completely cut off communication. Since they don’t have a working email or valid physical address listed there is no way to communicate, except with chat support but they will not ever respond once they decide to steal your crypto. I know two people who this has happened to. I’m not giving up after a month of trying to contact somebody affiliated with Zooex. Don’t trust anyone suggesting this exchange!
2023-11-23 11:29
1
Nabeel Yafai
ZooEX's transaction fees are not the lightest on the pocket, however, it sorta makes up with its innovative tech.
2024-02-28 04:28
9
gus6357
Zooex is in the Apple Store!! Apple is not going to validate a practice of this type! They ask to pay taxes with new contributions and freeze the funds until they receive them. the payment! When are the 2023 taxes paid and to whom should they be paid?
2023-11-25 05:51
8
FX1287517378
ZooEX is awesome! The interface is friendly and easy to operate, so even novice currency traders can get started quickly. Because of its high liquidity, it is very convenient to enter and exit the market. Recommended to everyone who loves blockchain!
2023-11-07 16:19
5
gi000000
Data update speed is very fast
2023-08-08 22:17
1
Aspect Information
Company Name ZooEX
Registered Area United States
Founded 2-5 years
Regulation Regulated by FinCEN (exceeded)
Supported Cryptocurrencies 100+
Fees 0.02% to 0.04%
Funding Methods Bank transfer, credit/debit card, cryptocurrencies

Overview of ZooEX

ZooEX is a cryptocurrency exchange company operating within the United States. With a foundation spanning 2-5 years, the company was regulated by the Financial Crimes Enforcement Network (FinCEN), exceeding the regulation set by this authority. ZooEX supports a diverse range of cryptocurrencies, boasting over 100 options for users to trade. The platform adopts a fee structure ranging from 0.02% to 0.04%, offering flexibility for users based on their trading preferences. \

To facilitate seamless transactions, ZooEX supports various funding methods, including bank transfers, credit/debit cards, and cryptocurrencies. This overview positions ZooEX as a regulated and user-friendly platform with a broad selection of supported cryptocurrencies and accessible funding options for its users.

Overview of ZooEX

Pros & Cons

Pros Cons
Numerous tradable cryptocurrencies Limited Time in Operation
Multiple Payments Not available in the U.S.
Regulated by MAS /

Pros

Numerous Tradable Cryptocurrencies: ZooEX offers 100+ cryptocurrencies available for trading, allowing users to access various altcoins and popular digital assets beyond Bitcoin and Ethereum.

Multiple Payments: ZooEX supports multiple payment methods, such as wallets, debit cards, ACH transfers, and wire transfers, offering users flexibility and convenience in funding their accounts and participating in the cryptocurrency market.

Regulated by MAS: It is regulated by the Malta Financial Services Authority (MFSA), which helps to instill trust and confidence in users. This means that ZooEX operates under certain guidelines and standards to ensure the security and integrity of its platform.

Cons

Limited Time in Operation: ZooEX was founded in 2018, which means it is relatively new compared to some other cryptocurrency exchanges. While it has grown to become a reputable exchange, its limited time in operation may be a consideration for users who prefer more established platforms.

Not Available in the U.S.: ZooEX has faced restrictions in the United States, with certain services and features not being available to U.S. residents due to regulatory complexities. This limitation may inconvenience American traders who are looking to access the full range of services offered by the exchange.

Regulations

ZooEX has an expired regulatory status set by the Financial Crimes Enforcement Network (FinCEN).

ZooEX operated under an Exclusive license, further emphasizing its previous dedication to regulatory compliance. The License No. provided (31000238071932) serves as a unique identifier for ZooEX's regulatory authorization, offering transparency and accountability.

Regulations

Security

ZooEX prioritizes the security of its platform and implements various protection measures to ensure the safety of user funds and personal information. These measures include encryption, two-factor authentication, and cold storage for cryptocurrencies. By encrypting data, ZooEX protects user information from unauthorized access. Two-factor authentication adds an extra layer of security by requiring users to provide additional verification when logging in or making transactions.

Trading Market

Spot Trading: ZooEX's core offering is spot trading, which enables users to buy and sell cryptocurrencies directly at their current market prices. This straightforward method is suitable for both beginners and experienced traders seeking immediate exposure to cryptocurrency price movements.

Perpetual Futures Trading: ZooEX offers perpetual futures trading, allowing traders to speculate on the future prices of cryptocurrencies without the need for physical delivery. Perpetual futures contracts have no predetermined expiry date and can be held indefinitely, providing flexibility for long-term trading strategies.

Margin Trading: ZooEX provides margin trading for both spot and perpetual futures contracts. Margin trading allows traders to borrow funds from the exchange to increase their buying power and execute larger trades. While margin trading can magnify profits, it also amplifies losses, so it's crucial to employ sound risk management strategies.

Over-the-Counter (OTC) Trading: ZooEX is made for institutional investors and high-net-worth individuals with OTC trading services. OTC trading facilitates large-volume transactions through personalized solutions and negotiated pricing, minimizing market impact and providing tailored support for large trades.

Non-Standardized Options (NSO) Trading: ZooEX introduced its unique NSO trading product, offering traders a flexible and customizable approach to speculating on cryptocurrency price movements. NSOs allow traders to choose trading sessions, buy up/down options in mainstream currencies, or further buy options with different up/down ranges.

Savings Products: ZooEX offers various savings products, enabling users to earn interest on their cryptocurrency holdings. These products provide a passive income stream while contributing to the liquidity of cryptocurrency markets.

API Connectivity: ZooEX provides a robust API that allows developers to integrate its trading and data services into their own applications. This API enables developers to build customized trading tools, market analytics platforms, and other innovative solutions for the cryptocurrency ecosystem.

Services

ZooEX Wallet: A secure and user-friendly digital wallet for storing, sending, and receiving cryptocurrencies.

ZooEX Earn: A platform that allows users to earn passive income on their cryptocurrency holdings by participating in staking programs.

ZooEX Perpetual Trading: A platform that allows users to trade cryptocurrency futures contracts with up to 125x leverage.

ZooEX NFT Marketplace: A platform that allows users to create, buy, sell, and trade NFTs.

ZooEX Learn: A platform that provides users with educational resources about cryptocurrencies and blockchain technology.

ZooEX APP

The ZooEX APP is a mobile trading app that allows users to buy, sell, and trade cryptocurrencies on the go. The app is available for iOS devices and is a good option for traders who want to trade on the move. The ZooEX APP is easy to use and has a variety of features that make it a good choice for both beginners and experienced traders.

The ZooEX APP and webpage are both good options for trading cryptocurrencies. However, there are a few key differences between the two.

Portability: The ZooEX APP is a mobile app, which means that it can be used on the go. The webpage, on the other hand, is a web-based platform, which means that it can be accessed from any computer with an internet connection.

Features: The ZooEX APP has a variety of features that are not available on the webpage. For example, the app has a built-in charting tool and a technical indicator library.

Security: The ZooEX APP is a secure platform that uses a variety of security measures to protect user funds. The webpage is also a secure platform, but it is not as secure as the app.

Overall, the ZooEX APP is a good choice for traders who want a mobile trading app that is easy to use and has a variety of features. The webpage is also a good option for traders who want a secure platform that can be accessed from any computer with an internet connection.

ZooEX APP

How to Buy Cryptos

Buying Cryptocurrencies through the ZooEX App

1. Download and Install the ZooEX App: Download and install the ZooEX app from the Apple Store. Create an account and verify your identity to ensure compliance with regulatory requirements.

2. Fund Your Account: You can fund your ZooEX account using various methods, including bank transfers, debit/credit cards, e-wallets, and crypto transfers. Select your preferred deposit method and follow the instructions to transfer funds.

3. Navigate to the “Markets” Section: Once your account is funded, open the ZooEX app and navigate to the “Markets” section.

4. Select Cryptocurrency and Amount: Choose the cryptocurrency you want to buy and enter the desired amount. ZooEX displays a list of available trading pairs and current market prices.

5. Place a Buy Order: Select the desired trading pair and enter your order details, including the order type (market order, limit order, etc.), price, and amount. Review the order summary and confirm your purchase.

6. Monitor Your Holdings: Your purchased cryptocurrency will be reflected in your ZooEX account balance. You can monitor your holdings, track price movements, and execute additional trades within the app.

Buying Cryptocurrencies through ZooEX Fiat Gateway

1. Select Fiat Gateway: Choose the fiat gateway option from the ZooEX platform. This will redirect you to a trusted third-party fiat gateway provider.

2. Verify Identity: Complete the identity verification process as required by the fiat gateway provider. This may involve providing personal information and documents.

3. Connect to Bank Account: Link your bank account to the fiat gateway provider. This will allow you to initiate fiat deposits and withdrawals.

4. Select Cryptocurrency and Amount: Choose the cryptocurrency you want to buy and enter the desired amount.

5. Initiate Fiat Deposit: Follow the instructions to transfer funds from your bank account to the fiat gateway provider. The funds will be converted into cryptocurrency and credited to your ZooEX account.

Buying Cryptocurrencies through Apple Pay

1. Ensure Apple Pay Setup: Ensure you have Apple Pay set up on your iPhone or iPad. Apple Pay allows you to make secure payments using your linked debit or credit card.

2. Open ZooEX App: Open the ZooEX mobile app and navigate to the “Markets” section.

3. Select Cryptocurrency and Amount: Choose the cryptocurrency you want to buy and enter the desired amount.

4. Select Payment Method: Choose Apple Pay as the payment method.

5. Authenticate Payment: Follow the on-screen prompts to authenticate the payment using your Apple Pay credentials.

6. Confirm Transaction: Review the transaction details and confirm your purchase. Upon successful completion, the purchased cryptocurrency will be added to your ZooEX account.

Cryptocurrencies Available

ZooEX offers over 100 cryptocurrencies for trading, including popular ones like Bitcoin, Ethereum, Ripple, and Litecoin. The prices of these cryptocurrencies can fluctuate on exchanges due to market demand and supply, as well as other factors such as news events and investor sentiment.

In addition to trading cryptocurrencies, ZooEX also offers other products and services. This includes leveraged trading, where users can amplify their potential profits or losses by trading with borrowed funds. It is important for users to understand the risks involved in leveraged trading and use caution when utilizing this feature.

How to Open an Account?

Opening an account on ZooEX is a straightforward process that can be completed in a few minutes. Here's a step-by-step guide on how to open an ZooEX account:

Step 1: Visit the ZooEX website or download the ZooEX app

You can either visit the ZooEX website or download the ZooEX app from the App Store or Google Play.

Step 2: Click on the “Sign Up” button

Once you're on the ZooEX website or app, click on the “Sign Up” button. You'll be redirected to a registration page.

Step 3: Enter your email address and create a password

Enter your email address and create a strong password. Make sure your password is at least 8 characters long and includes a mix of upper and lowercase letters, numbers, and symbols.

Step 4: Enter your country and mobile phone number

Select your country from the dropdown menu and enter your mobile phone number. You'll receive a verification code via SMS. Enter the verification code to confirm your phone number.

Step 5: Agree to the terms of service

Read the ZooEX terms of service carefully and check the box to agree with them.

Step 6: Click on the “Create Account” button

Once you've agreed to the terms of service, click on the “Create Account” button. Your ZooEX account will be created immediately.

Step 7: Complete KYC verification (optional)

ZooEX offers an optional KYC verification process that allows you to increase your withdrawal limits and access other features. To complete KYC verification, you'll need to provide some personal information and documents, such as a government-issued ID and proof of address.

Step 8: Deposit funds

Once your account is set up, you can deposit funds into your ZooEX account using a variety of methods, including cryptocurrency transfers, bank transfers, and credit/debit cards.

Step 9: Start trading

Once your funds are deposited, you can start trading cryptocurrencies on the ZooEX platform. ZooEX offers a variety of trading pairs, including major cryptocurrencies, altcoins, and stablecoins.

Fees

The trading platform offers a variety of trading pairs with distinct contract types, values, and associated maker/taker fees.

For instance, in the BTCUSDT pair with USDT settlement, the contract value is 0.001 BTC, and the corresponding maker and taker fees are 0.02% and 0.04%, respectively.

Notably, there is a 20% discount for both maker and taker fees under the AAB program, resulting in reduced fees of 0.016% for makers and 0.032% for takers.

Similar structures apply to other pairs such as BTCUSD, ETHUSD, COMPUSDT, LINKUSDT, BCHUSDT, and ETHUSDT, each featuring specific contract values and fee percentages.

These details provide users with comprehensive information on trading parameters, enabling informed decision-making based on settlement types, values, and associated fees, including the advantageous AAB 20% discount.

Contract type Value Maker/Taker MAKER TAKER AAB 20% DISCOUNT
BTCUSDT USDT settlement 0.001 BTC 0.02% 0.04% 0.016% 0.032%
BTCUSD BTC settlement 1USD
ETHUSD BTC settlement 0.000001 BTC 1 USD
COMPUSDT USDT settlement 0.1 COMP
LINKUSDT USDT settlement 1 LINK
BCHUSDT USDT settlement 0.01 BCH
ETHUSDT USDT settlement 0.01 ETH
Fees

Deposit and Withdrawal

ZooEX offers various deposit and withdrawal methods for users to conveniently manage their funds.

For deposits, users can choose from options such as bank transfers, cryptocurrency deposits, and third-party payment processors.

The processing time for deposits can vary depending on the chosen method. Bank transfers may take a few business days to be processed, while cryptocurrency deposits are typically processed within a shorter timeframe, depending on the network congestion and confirmations required.

Similarly, for withdrawals, users can select from different methods such as bank transfers, cryptocurrency withdrawals, and third-party payment processors. The processing time for withdrawals can also vary depending on the chosen method. Bank transfers may take a few business days to reach the user's bank account, while cryptocurrency withdrawals are typically processed within a shorter timeframe, depending on the network congestion and confirmations required.

Is ZooEX a Good Exchange for You?

ZooEX is the best cryptocurrency exchange for active traders seeking a high-performance and feature-rich platform. Its advanced trading tools, deep liquidity, and competitive fees make it ideal for traders who want to execute complex trading strategies, take advantage of market opportunities, and minimize their trading costs. Additionally, ZooEX's perpetual trading platform with up to 125x leverage provides experienced traders with the ability to amplify their trading potential and maximize their profits.

Beginner traders:

ZooEX offers a simplified trading interface that makes it easy for beginners to learn and understand the basics of cryptocurrency trading.

ZooEX provides a variety of educational resources, such as tutorials and articles, to help beginners learn about cryptocurrency and blockchain technology.

ZooEX offers a variety of risk management tools, such as stop-loss orders and take-profit orders, to help beginners protect their capital.

Intermediate traders:

ZooEX offers a variety of advanced trading features, such as margin trading and perpetual trading, to help intermediate traders execute more complex trading strategies.

ZooEX provides a variety of market analysis tools, such as charts and indicators, to help intermediate traders make informed trading decisions.

ZooEX offers a variety of order types, such as limit orders and market orders, to help intermediate traders execute their trading strategies with precision.

Experienced traders:

ZooEX offers deep liquidity and tight spreads on a wide range of cryptocurrency pairs, making it an ideal platform for experienced traders who need to execute large trades quickly and with minimal slippage.

ZooEX offers a variety of advanced trading features, such as margin trading, perpetual trading, and options trading, to help experienced traders execute complex trading strategies.

ZooEX provides a variety of institutional-grade trading tools, such as algorithmic trading and market making, to help experienced traders compete in the professional trading arena.

Conclusion

ZooEX emerges as a compelling cryptocurrency exchange, offering an extensive selection of 100+ tradable cryptocurrencies, providing users with access to a rich range of altcoins. The platform's support for various payment methods, including wallets, debit cards, and wire transfers, enhances user convenience in navigating the crypto market. Regulated by the Malta Financial Services Authority (MFSA), ZooEX operates under stringent guidelines, fostering user trust through a commitment to security and integrity. However, being founded in 2018, its relatively short time in operation may be a consideration for users favoring more established platforms. Additionally, limitations on services for U.S. residents due to regulatory complexities highlight an area for improvement, as this may inconvenience American traders seeking a comprehensive exchange experience. Overall, ZooEX stands as a promising platform with a broad cryptocurrency offering, emphasizing user convenience and regulatory adherence, though mindful consideration of its operational duration and regional limitations is advised.

Frequently Asked Questions (FAQs)

Q: Can I trade NFTs?

A: No, ZooEX primarily focuses on cryptocurrency trading and does not support the trading of NFTs.

Q: Where is my money stored?

A: Users' funds on ZooEX are securely stored within the platform's wallet system.

Q: What kind of rewards can users earn?

A: ZooEX offers various rewards and incentives, including trading bonuses, promotions, and potentially a referral program.

Q: What countries are restricted?

A: Users should check ZooEX's official documentation for the latest information on restricted countries, as it may be subject to change.

Q: Is KYC needed?

A: Yes, ZooEX typically requires users to undergo KYC (Know Your Customer) verification for security and regulatory compliance.

Q: Does it offer margin trading?

A: Yes, ZooEX provides margin trading services, allowing users to trade with leverage. However, users should be aware of the associated risks involved in margin trading.

User Review

User 1: “Man, ZooEX is my favorite crypto exchange hands down! First off, their security is top-notch. With features like two-factor authentication and cold storage for funds, I sleep soundly knowing my crypto is safe. Secondly, their interface is killer. It's clean, intuitive, and easy to navigate, even for a newbie like me. And let's talk about liquidity—no worries about finding buyers or sellers, trades happen smooth as butter. The only gripe I have is with the trading fees, they can be a bit steep if you're not a high-volume trader. But hey, I guess you gotta pay for quality, right?”

User 2: “Dude, ZooEX is legit! The best part is their regulation and compliance. They're fully regulated, so you know your money is in safe hands. Plus, the variety of cryptocurrencies available is insane, from popular ones like Bitcoin to those hidden gems you've never even heard of. And man, their customer support is on point. Quick responses, and helpful assistance—can't ask for more. The only minor downside is that sometimes the deposit and withdrawal speed can be a tad slow, but it's nothing too major. Overall, it's a stable and reliable exchange that I trust with my crypto.”

Risk Warning

There are inherent security risks associated with investing in cryptocurrency exchanges. It is important to understand these risks before making such investments. Cryptocurrency exchanges are vulnerable to hacking, fraud, and technical glitches, which can lead to the loss of funds.

It is recommended to choose a reputable and regulated exchange, keep abreast of security measures, and be vigilant in detecting and reporting any suspicious activity. Please ensure that you understand the risks involved and note that the information contained in this article is for general information only.