Stoppage of Business

Score

0123456789.01234567890123456789
/10

Xmex

Seychelles

|

Stoppage of Business

2-5 years|

Common Financial Service License|

Company Registration|

MSB License|

Suspicious Overrun|

High potential risk|

Offshore Regulatory|

https://www.xmex.co/

Website

Rating Index
Influence

Influence

C

Influence Index NO.1

Germany 2.32

Better than 88.54% exchange(s)

Biz Area

Search Statistics

Advertising

Social Media Index

The WikiBit Score of this exchange is lowered because of too many unresolved complaints!
Influence
C

Licenses

FINTRAC

FINTRACExceeded

Common Financial Service License

FSA

FSAExceeded

Company Registration

FinCEN

FinCENExceeded

MSB License

Exchange Info

More
Company Name
Xmex
Phone of the company
--
Customer Service Email Address
suggest@xmex.co

WikiBit Risk Alerts

6
Previous Detection 2024-03-29

This Exchange has ceased its operation, and it has been listed in WikiBit's shut down list of Exchange; please be aware of the risk!

Common Financial Service License goes beyond their business with the licenses Canada FINTRAC (license number: M20473949), please be aware of the risk!

Company Registration goes beyond their business with the licenses Seychelles FSA (license number: Unreleased), please be aware of the risk!

Website

Genealogy

Social Media

Trade Type

Keywords

Time Machine

White Paper

Related Software

Github

Related Docs

All Corps

New Arrival

Vol Stat

Influence

Yesterday Vol

7 Days

By company

No data

User Reviews

More

6 ratings

Participate in evaluation
Sermsak Chaengnet
XMEX is really interesting because of its ability to provide stability and price changes that adapt quickly and with good market conditions. It is a coin that has the potential for a future of stability!
2023-11-03 09:06
1
0
vx炒币人
In general, the needle is often inserted, and it has already run away
2022-05-07 22:56
0
0
ƒ
Stop running at 18:00 of May 21
2021-05-21 11:57
0
0
龙在江湖
What happened? Did it abscond
2021-05-20 19:57
0
0
苏总¹
Unplug the network cable, and then pretend to compendate u, but actually give nothing
2021-05-08 15:18
0
0
零撸党
"3D Vision" project. The website declared that “3D Vision is a 3D intelligent digital entrepreneurship platform based on the blockchain ecology. This project has been in operation for 3 years. The main 3D technology of the naked eye has been deceived!
2021-03-21 17:31
0
0
Aspect Information
Company Name XMEX
Registered Country/Area Seychelles
Founded Year 2018
Regulatory Authority Regulated by FINTRAC (exceeded), FSA (exceeded), and FinCEN(exceeded)
Number of Cryptocurrencies Available 153
Fees 0.02% - 0.04%.
Payment Methods Bank transfer, credit/debit card, e-wallets
Customer Support 24/7 live chat, email support

Overview of XMEX

XMEX was founded in 2018 in Seychelles. The company is regulated by FINTRAC (exceeded), FSA (exceeded), and FinCEN(exceeded). XMEX is a cryptocurrency exchange that offers maximum leverage of 1:100. It supports a variety of trading platforms, including web, mobile, and API. The exchange accepts payment through bank transfers, credit/debit cards, and e-wallets. XMEX charges a trading fee of 0.02% - 0.04%, which is relatively low compared to other cryptocurrency exchanges.

Pros and cons

Pros Cons
Diverse range of 153 cryptocurrencies available Exceeded regulatory status
a variety of payment methods Limited availability
24/7 customer support Lower liquidity

Pros of XMEX exchange:

- Diverse range of 153 cryptocurrencies available: XMEX offers users a wide selection of cryptocurrencies to trade, providing opportunities to diversify their investment portfolios.

- Accepts a variety of payment methods: XMEX accepts bank transfers, credit/debit cards, and e-wallets, having it convenient for users to fund their accounts and engage in transactions.

- 24/7 customer support through live chat and email: XMEX provides round-the-clock customer support, allowing users to seek assistance and resolve any issues they may encounter at any time.

Cons of XMEX exchange:

- Exceeded regulatory status: The limitation of XMEX is that it exceeds the regulatory status with FINTRAC, FSA, and FinCEN, which may not be a secure enough option for the users. Traders should consider this factor when choosing an exchange and ensure they undertake their own due diligence.

- Limited availability: stemming from regulatory constraints in specific jurisdictions that prevent its accessibility in certain countries.

- Lower liquidity: XMEX may have less liquidity compared to larger centralized exchanges.

Regulatory Authority

XMEX operates under the oversight of FINTRAC, FSA, and FinCEN, whereas the current status is exceeded with all the regulatory authorities. It can potentially foster an environment susceptible to fraudulent activities, market manipulation, and other illicit practices. Users are left vulnerable as legal protections become less enforceable, undermining trust in the market.

Regulatory Authority
Regulatory Authority
Regulatory Authority

Security

XMEX claims to prioritize cold storage, housing the majority of funds offline to minimize vulnerability to hacking attacks. Utilizing multi-signature wallets for select hot wallets, XMEX enforces transaction approval by multiple parties, fortifying defenses against fund theft. Mandating 2-factor authentication (2FA), users must input a phone-generated code alongside their password for login, heightening hindrances for potential hackers. Moreover, SSL encryption is employed on XMEX's website, bolstering data protection during online transmissions. It's essential, however, to acknowledge that no security measure is entirely foolproof. While XMEX diligently incorporates robust security, instances of exchange breaches have occurred across the industry. Therefore, prudent research is advised prior to using any cryptocurrency exchange, with investments limited to disposable funds.

Cryptocurrencies Available

XMEX supports trading for approximately 153 cryptocurrencies. In this extensive selection, you'll find renowned cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Binance Coin (BNB), ensuring a solid foundation for trading. Moreover, XMEX goes beyond the mainstream by providing access to lesser-known gems like Fantom (FTM), The Graph (GRT), and 1inch (1INCH), adding a touch of diversity and innovation to the mix. This comprehensive range accommodates traders with varying strategies and risk appetites, providing ample opportunities to explore and capitalize on the dynamic world of cryptocurrency trading.

Cryptocurrencies Available

How to open an account?

The registration process for XMEX can be completed in the following steps:

1. Visit the XMEX website and click on the “Sign Up” button.

2. Provide your email address and create a password for your XMEX account.

3. Verify your email address by clicking on the verification link sent to your inbox.

4. Complete the KYC (Know Your Customer) process by providing your personal information and submitting any required documents.

5. Once your KYC verification is successful, you will be able to deposit funds into your XMEX account.

6. Start trading by selecting the desired cryptocurrencies and executing your buy or sell orders.

open an account

Fees

XMEX charges a trading fee of 0.02% - 0.04%, which is relatively low compared to other cryptocurrency exchanges. The maker fee is 0.02%, and the taker fee is 0.04%.

Payment Methods

At XMEX, transparency and user convenience are paramount. When it comes to withdrawals, a nominal fee of 0.0005 BTC is applied for Bitcoin withdrawals, ensuring smooth transactions. For other cryptocurrencies, withdrawal fees may differ based on the specific cryptocurrency. On the deposit side, XMEX claims to enhance your experience by not imposing any deposit fees for bank transfers or credit/debit card transactions.

XMEX supports multiple payment methods, including bank transfers, credit/debit cards, and e-wallets. These payment methods provide users with flexibility and convenience when funding their accounts and trading transactions on the platform.

The processing time for payments on XMEX may vary depending on the selected payment method. Bank transfers typically take longer to process, ranging from a few business days to a week, depending on the banks involved. Credit/debit card payments and e-wallet transfers are usually processed more quickly, with transactions typically being completed within a few minutes to a few hours.

Educational Resources

XMEX provides educational resources and tools to assist users in their cryptocurrency trading journey. These resources may include articles, tutorials, and guides that cover various topics related to cryptocurrency trading, such as market analysis, technical analysis, and trading strategies. Additionally, XMEX may offer tools such as price charts, trading indicators, and other analysis claim to help users make informed trading decisions. These resources and tools aim to provide users with the necessary knowledge and tools to improve their trading skills and make more informed trading decisions.

Is XMEX a Good Exchange for You?

XMEX offers a range of both advantages and drawbacks that users should consider when evaluating its suitability. On the positive side, XMEX presents an extensive selection of 153 cryptocurrencies, giving users ample choices to diversify their investment portfolios. The convenience factor is bolstered by the exchange's acceptance of various payment methods, including bank transfers, credit/debit cards, and e-wallets. Moreover, the availability of 24/7 customer support through live chat and email ensures that users can access assistance whenever they require it. These attributes contribute to having XMEX an attractive option for those looking to engage in cryptocurrency trading.

Conclusion

In conclusion, XMEX provides users with a mixed bag of benefits and drawbacks. The diverse range of cryptocurrencies and the convenience of multiple payment methods enhance its appeal, having it potentially suitable for those seeking to enter the cryptocurrency market. However, there are notable concerns that users should take into account. The fact that XMEX exceeds regulatory statuses with entities like FINTRAC, FSA, and FinCEN raises questions about the security and oversight of the platform. Additionally, its limited availability in certain jurisdictions due to regulatory constraints restricts access for potential users. Lastly, the comparatively lower liquidity on XMEX compared to larger centralized exchanges could impact the speed and efficiency of transactions. Ultimately, users should weigh these factors carefully before deciding whether XMEX aligns with their trading needs and risk tolerance.

FAQs

Q: Can I trade NFTs?

A: No, XMEX does not allow you to trade NFTs.

Q: Where is my money stored?

A: Your money is stored in hot wallets.

Q: What kind of rewards can users earn?

A: Trading fees, Referral bonuses, and Airdrops.

Q: What countries are restricted?

A: The United States, Canada, China, Iran, North Korea, and Sudan.

Q: Does it require KYC?

A: Yes, XMEX requires KYC.

User Review

User 1: I've been using XMEX for a few months now, and I'm generally happy with it. I like the fact that they offer a diverse range of cryptocurrencies, and I've never had any problems with their 24/7 customer support. However, I'm a bit disappointed with the liquidity. Sometimes, the spreads can be quite wide, which can make it difficult to get a good price. Overall, I think XMEX is a decent exchange, but it's not the best. I would recommend it to beginners, but more experienced traders may want to look elsewhere.

User 2: I've been using XMEX for a while now, and I'm not really impressed. I was attracted to the exchange because of its diverse range of cryptocurrencies and its 24/7 customer support. However, I've found the liquidity to be quite poor, and the fees to be quite high. I'm also not a fan of the fact that XMEX is not available in all countries. I would not recommend this exchange to anyone.

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.