Stoppage of Business

Score

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/10

STEX

Estonia

|

Stoppage of Business

2-5 years|

Digital Currency License|

High potential risk|

https://www.stex.com/

Website

Rating Index
Influence

Influence

B

Influence Index NO.1

Spain 3.14

Better than 96.39% exchange(s)

Biz Area

Search Statistics

Advertising

Social Media Index

Influence
B

Licenses

MTR

MTRRegulated

Digital Currency License

Exchange Info

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Company Name
STEX
Phone of the company
--
Customer Service Email Address
support@stex.com
feedback@stex.com

WikiBit Risk Alerts

2
Previous Detection 2024-03-28

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!

The number of this Exchange's nagitive field survey reviews has reached 1, please be aware of the risk and the potential scam!

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Time Machine

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User Reviews

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3 ratings

Participate in evaluation
Eric Sow Cheong Fatt
The user interface of STEX is clean and user-friendly, which is a major advantage. However, the fees are relatively high, so it would be even better if improvements could be made in this area.
2024-03-05 10:59
1
0
FX1876750912
I like STEX because of its innovation and advanced technological approach! However, the price fluctuations are quite unstable, which can be tricky for beginner traders.
2024-02-10 02:55
3
0
Ylimhs
STEX's trading fees are really reasonable, the operation page is also clear and easy to understand, but sometimes the price fluctuations make me nervous! The secure wallet method is quite reassuring, but the interaction with customer service and the community could be better.
2024-01-01 13:36
9
0
Aspect Information
Company Name STEX
Registered Country/Area Estonia
Founded Year 2018
Regulatory Authority MajandusTegevuse Register (MTR)
Cryptocurrencies Offered Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Stellar (XLM), etc.
Maximum Leverage 1:100
Trading Platforms STEX Web Platform, STEX Mobile App
Deposit & Withdrawal Bank transfer, credit/debit card, cryptocurrency transfer
Educational Resources Trading guides, video tutorials, and webinars
Customer Support Email, live chat, phone

Overview of STEX

STEX, a virtual currency exchange, is registered in Estonia and was founded in 2018. It is regulated by the MajandusTegevuse Register (MTR). However, the current status of this exchange is suspending.

STEX provides a maximum leverage of 1:100, allowing users to amplify their trading positions. The exchange offers two trading platforms, the STEX Web Platform and the STEX Mobile App, providing convenience for users to access their accounts and trade on the go.

Overall, STEX offers a regulated and user-friendly platform for trading virtual currencies. With its range of cryptocurrencies, trading platforms, deposit/withdrawal options, educational resources, and customer support channels, it aims to provide a comprehensive trading experience for its users.

Pros and cons

Pros Cons
• Regulated trading environment • Relatively new establishment
• Range of cryptocurrencies for trading • Potential variability of customer support
• Maximum leverage options
pros & cons

Pros of STEX:

STEX offers a regulated trading environment, as it is authorized and regulated by the MajandusTegevuse Register (MTR). This regulatory oversight provides users with a sense of security and confidence, knowing that the exchange operates in compliance with industry standards.

The platform offers a range of cryptocurrencies for trading, including popular options such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Stellar (XLM). This diversity allows traders to have a variety of options to choose from and potentially expand their investment portfolio.

STEX provides a maximum leverage of 1:100, enabling users to amplify their trading positions. This feature can be beneficial for experienced traders who want to take advantage of potential market opportunities and maximize their returns.

Cons of STEX:

One potential downside of STEX is its relative newness in the industry, as it was founded in 2018. This makes some traders hesitant, as they prefer to use platforms with longer-established track records and reputations.

STEX's customer support channels, while offering multiple options such as email, live chat, and phone, are not always provide an immediate response. Some users require more prompt assistance, and the availability and responsiveness of support are vary.

In conclusion, while STEX offers a regulated trading environment, a range of cryptocurrencies for trading, and maximum leverage options, some traders have reservations due to the platform's relatively new establishment and the potential variability of its customer support.

Regulatory Authority

STEX operates in a regulated trading environment as it is authorized and regulated by the MajandusTegevuse Register (MTR) in the Estonia. This regulatory oversight ensures that the exchange adheres to industry standards and provides users with a sense of security and trust when trading on the platform.

regulated-MTR-license

Security

STEX offers two-factor authentication (2FA) as an additional layer of security. This feature requires users to provide a second form of verification, typically through a smartphone app, when logging in or carrying out certain transactions.

In terms of user feedback, it is important to note that individual experiences may vary. While STEX has generally received positive feedback from users regarding its security measures, it is advisable for traders to conduct their own research and due diligence to assess the platform's security features and user experiences.

Apart from these measures, users are also encouraged to practice good security habits, such as using unique and strong passwords, regularly monitoring their accounts for any suspicious activities, and keeping their devices and software up to date.

Overall, while STEX implements security measures to protect users' funds and data, traders should also take personal responsibility in ensuring their own security by following best practices and being vigilant.

Security

Trading Markets

STEX provides a diverse range of trading products for cryptocurrency enthusiasts and traders:

  • Spot Trading: This is a fundamental trading method where you buy and sell cryptocurrencies at their current market prices. STEX offers spot trading for many popular cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Dogecoin (DOGE).

  • Margin Trading: STEX enables traders to borrow funds to trade larger amounts of cryptocurrencies than their own capital would allow. While this can increase potential profits, it also significantly raises the risk of losses. STEX provides margin trading with up to 5x leverage.

  • Futures Trading: This involves trading contracts that obligate the buyer to purchase, or the seller to sell, a cryptocurrency at a predetermined future date and price. Futures trading on STEX is available for several cryptocurrencies, such as BTC, ETH, and LTC, and can be used for hedging against price risks or speculating on future price movements.

  • Options Trading: In options trading, participants buy or sell contracts that give the buyer the right (but not the obligation) to buy or sell a cryptocurrency at a specified price in the future. STEX offers options trading for various cryptocurrencies, providing opportunities for speculation or hedging.

  • Over-the-Counter (OTC) Trading: For those looking to trade large amounts of cryptocurrency, STEX provides OTC trading. This type of trading is executed privately between the buyer and seller, outside of the traditional order book of an exchange, offering a more discreet way of handling substantial transactions.

Each of these trading products caters to different trading strategies and risk appetites, from straightforward spot trading to more complex options and futures trading.

Cryptocurrencies available

STEX offers a range of cryptocurrencies for trading, providing users with options to diversify their portfolios. Some of the cryptocurrencies available on STEX include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Stellar (XLM), among others.

It is important to note that cryptocurrency prices are highly volatile and can experience significant fluctuations on exchanges. These price movements are influenced by various factors, including market demand, investor sentiment, regulatory developments, and overall market conditions. Traders should be aware of these price fluctuations and exercise caution when trading cryptocurrencies.

Other Services

STEX, beyond its trading offerings, provides several other services catering to the diverse needs of its users in the cryptocurrency space:

  • Staking: Users can engage in staking certain cryptocurrencies on the platform. By staking coins like Tezos (XTZ), Cosmos (ATOM), and Polygon (MATIC), they can earn rewards.

  • Lending: This service allows users to lend their cryptocurrencies to others. Lending options include popular cryptocurrencies such as BTC, ETH, and USDT.

  • Borrowing: STEX enables users to borrow fiat currency using their cryptocurrency holdings as collateral. This service is available for several cryptocurrencies, including BTC, ETH, and USDT.

  • Fiat-to-Crypto and Crypto-to-Fiat Transactions: The platform supports both fiat currency and cryptocurrency deposits and withdrawals, accommodating various transaction needs.

  • Mobile App: STEX offers a mobile application that allows users to manage their accounts and engage in various activities like staking while on the go.

    Educational Resources: The platform offers a range of educational content, including articles, videos, and webinars, aimed at helping users understand the nuances of cryptocurrency and blockchain technology.

How to open an account?

The registration process on STEX involves the following steps:

1. Visit the STEX website and click on the “Register” button.

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

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

4. Fill in your personal information, such as your full name and date of birth.

5. Agree to the terms and conditions of STEX and complete the Captcha verification.

6. Submit your registration and wait for confirmation from STEX. Once confirmed, you can log in to your account and start trading.

How to buy Cryptos?

To buy cryptocurrencies on STEX, follow this guide:

Create an Account: Go to the STEX website and click the “Sign Up” button. You'll need to provide your email address, create a password, and agree to the terms of service. Then, verify your email address by clicking the link sent to you.

Complete Identity Verification: STEX requires identity verification to comply with regulations. This involves uploading a government-issued ID photo and confirming your residential address. You might also need to take a selfie for identity confirmation.

Deposit Funds: After verifying your identity, deposit funds into your STEX account. You can deposit either fiat currency (like USD or EUR) or cryptocurrencies. The deposit methods available will depend on your location and the currency you use.

Buy Cryptocurrencies: Head to the “Trading” page on the STEX platform. Here, select the cryptocurrency you wish to purchase. Enter the amount of fiat currency you want to spend or the specific amount of cryptocurrency you wish to buy. Make sure to review the order details thoroughly. When you're ready, click the “Buy” button to complete the transaction.

Store Your Cryptocurrencies: The cryptocurrencies you've purchased will be stored in your STEX wallet. You can choose to keep them in your STEX wallet for long-term holding or transfer them to another wallet if you need them for other purposes.

Additional Tips: Before investing in cryptocurrencies, it's crucial to understand the associated risks. The value of cryptocurrencies can be quite volatile, carrying the risk of loss. STEX provides various educational resources that can help you learn more about cryptocurrency trading and investing, which can be very beneficial, especially if you're new to the crypto world.

Following these steps will guide you through the process of purchasing cryptocurrencies on STEX.

Fees

Maker's or Taker's fee
  • Deposit fees: STEX does not charge any deposit fees for cryptocurrencies. However, there may be fees charged by your cryptocurrency exchange or payment processor.

  • Withdrawal fees: Withdrawal fees vary depending on the cryptocurrency you are withdrawing. For example, the withdrawal fee for Bitcoin is 0.0005 BTC, while the withdrawal fee for Ethereum is 0.005 ETH.

  • Trading fees: STEX charges a maker-taker fee model for trading. The maker fee is 0.2%; Taker fee: 0.25%. This means that if you place a limit order that is filled, you will pay a 0.2% fee. If you place a market order that is filled immediately, you will pay a 0.25% fee.

  • Margin trading fees: STEX charges an interest rate of 0.04% per day for margin trading. This means that if you borrow 1 BTC to trade, you will pay 0.04 BTC per day in interest.

  • Other fees: STEX may also charge fees for other services, such as account funding, account verification, and customer support.

    Services Fees
    Deposit No deposit fees
    Withdrawal Varies by cryptocurrency
    Trading Maker fee: 0.2%; Taker fee: 0.25%
    Margin Trading Interest rate: 0.04% per day
    Other Fees Vary

Deposit & Withdrawal

STEX offers various deposit and withdrawal methods for users to fund their accounts or withdraw their funds. Some common deposit methods may include bank transfers, credit/debit cards, and cryptocurrency transfers. The specific options available may vary depending on the user's location and the currencies they wish to use.

Bank transfers and credit/debit card deposits may take longer to process compared to cryptocurrency transfers, which are often faster. The exact processing times are not specified on the website, so users are advised to refer to their account settings or contact STEX directly for more information on the expected processing times for their chosen deposit or withdrawal method.

Exchange Comparison

Exchange STEX KuCoin Coinbase
Fees 0.2% 0.1% 0.5%
Cryptos Available N/A 500+ 100+
Website https://www.stex.com/ https://www.kucoin.top https://www.coinbase.com/

Is STEX a Good Exchange for You?

STEX can be suitable for various trading groups, depending on their specific needs and preferences. Here are some potential target groups for STEX:

1. Cryptocurrency enthusiasts and experienced traders: STEX offers a wide range of cryptocurrencies for trading, making it an attractive platform for those who are knowledgeable about and experienced in the cryptocurrency market. The platform's advanced features, such as margin trading or staking, also appeals to experienced traders looking for additional trading options.

2. Traders looking for a regulated and secure trading environment: STEX operates in a regulated trading environment authorized and regulated by the MajandusTegevuse Register (MTR) in the Estonia. This regulatory oversight provides users with a sense of security and trust when trading on the platform. Traders who prioritize a regulated trading environment and value security may find STEX suitable for their needs.

3. Traders seeking educational resources and support: STEX offers educational resources, such as trading guides, video tutorials, and webinars, which can be beneficial for traders looking to enhance their knowledge and skills. Additionally, the availability of community support and communication platforms, such as forums or social media groups, may provide traders with opportunities to engage with other users and learn from each other.

4. Traders requiring diverse deposit and withdrawal options: STEX supports various deposit and withdrawal methods, including bank transfers, credit/debit cards, and cryptocurrency transfers. This flexibility in payment options can be advantageous for traders who prefer a wide range of choices for funding their accounts or withdrawing their funds.

It is important to note that these recommendations are based on the information available and the specific needs and preferences of traders are vary. Traders are encouraged to conduct their own research and assess their individual requirements before choosing a trading platform.

STEX User Review

User1: Regulation?Well, it's a bit like walking a tightrope. They claim to follow some rules, but it's not like they're wrapped in a cozy regulatory blanket. If you're a stickler for regulated waters, you might want to test the crypto depths elsewhere.

User2: Well it looks like Stex finally took off with the crypto. Site down and message says they are out of business. Force Majeure statement. Due to unknown reasons, we suffered data loss. In result, we have very fragmented and non-consistent data regarding balances, transactions, etc. We cannot continue any business operations. Data corrupted? Well most legitimate exchanges would have automatic backup of the data. Sounds like another Ukranian scam, just wonder if the big guy is getting 10% too.

user reviews

Conclusion

In conclusion, STEX offers a range of cryptocurrencies for trading and provides users with options to diversify their portfolios. The exchange operates in a regulated trading environment, authorized and regulated by the MajandusTegevuse Register (MTR), which can provide users with a sense of security.

However, the status of STEX is suspending now. Additionally, user satisfaction and experiences with the exchange are subjective and can vary. It is recommended for traders to conduct their own research and consider their individual needs and preferences before choosing a trading platform.

FAQs

FAQs

Q: How can I deposit funds into my STEX account?

A: STEX provides various deposit methods, including bank transfers, credit/debit cards, and cryptocurrency transfers.

Q: What are the trading fees on STEX?

A: STEX charges a maker-taker fee model for trading. The maker fee is 0.2%; Taker fee: 0.25%.

Q: Does STEX offer educational resources for traders?

A: Yes, STEX provides educational resources such as trading guides, video tutorials, and webinars to assist traders in enhancing their knowledge and skills. These resources can be useful for both experienced traders and beginners looking to learn more about cryptocurrency trading.

Q: Can I trade on STEX from any country?

A: STEX is available to users from various countries. However, it is recommended to check the list of supported countries on the STEX website or contact their customer support team to ensure that trading is accessible from your location.

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.