de | cn | ru

Exmo Review - is it scam or safe?

Exmo Review - is exmo.com scam or good cryptocurrency exchange?

RATING: 3 / 5 REVIEWS Exmo

RECOMMENDED BITCOIN BROKERS


Trading accounts and conditions

 

Account type Leverage Fees
Standard 1:1 0.2%

 

Exmo offers trading in a fairly good selection of some of the more popular cryptocurrencies for euro, US dollars, Ukrainian hryvinas and Russian rubles. The UAH, however, can only be used for trading in Bitcoin and Ether. The other three accepted fiat currencies can be used for trading in Bitcoin, Litecoin, Doge Coin, Dash, Ether, Waves, Zcash, Tether, Monero, Ripple, KickCoin and Ethereum Classic. Interestingly, Exmo also offers an exchange service between USD and EUR.

 

Compared to some other exchanges, Exmo appears to offer a decent portfolio of alt-coins, whereas some platforms only offer trading in Bitcoin.

 

It appears that Exmo does not require immediate customer verification in order to start trading. Obviously, however, at some point it requires clients to upload a copy of an ID document.

 

Like most crypto platforms, Exmo does not offer the option for leveraged trading, but a simple spot exchange service. Other exchanges, like like Kraken, CexIobitFlyer and Quoinex for example, also offer trading on margin.

 

There are some forex brokers, an ever growing number in fact, who have expanded their portfolio by including CFDs on some of the more popular cryptocurrencies for speculative trading. Some, like eToro, have even set up dedicated crypto investment portfolios.

 

>> See our list of regulated bitcoin forex brokers <<

 

The Company. Security of Funds

 

Company Country Regulation
EXMO Finance LLP UK None

 

Exmo is a cryptocurrency exchange based in the UK and is not regulated. Nor it needs to be, at least for the time being.

 

There is also another legal entity, mentioned on the site as a service provider: Finerta Business Inc., registered in the offshore zone of British Virgin Islands.

 

According to its own site, for the company work developers from Spain, Russia, India and Thailand, in partnership with financial advisors from Great Britain, USA, Lithuania and Singapore.

 

The company says it has 700 000 clients from all over the world and has several language options, including Chinese, but we get the impression that the exchange is mostly targeting clients from Russia and Ukraine – it accepts deposits in RUB and UAH and provides funding options mostly popular in these two countries. Besides, there are some sections of the site with Russian as default language. Not that there is something wrong with that, of course, but it seems that in January 2017 the Russian communications megaregulator Rosskomnadzor has blocked the access to the platform from Russia. Exmo has set up a mirror site for its Russian clients.

 

Judging by the user comments and reviews, Exmo is a fairly easy to use platform with decent reputation, although there are complaints that its servers are often down for maintenance.

 

Trading platform

 

Exmo’s web-based platform is simple and intuitive to use, as most of those are. It does not offer many additional features, besides the most necessary: there is an exchange tab where the process is as simple, as it can possibly be.

 

 

There is also the buy&sell tab, which offers price charts, a list of the tradable pairs, order book and trading history.

 

Additionally, Exmo has been added to the  Tab Trader app for Android. Tab Trader is a terminal for trading in some of the most popular cryptocurrencies, on some of the larger exchanges: Coinbase, Bitstamp, ANXPRO, HitBtc, BTCChina, Huobi, Kraken, ItBit, Bitbay, Cryptsy, Bter, Bitfinex, Clevercoin, Bitmarket, Gatecoin, Bleutrade, Quoinex, Bittrex, BL3P (Bitonic), Poloniex, Bitcurex, EXMO, CEX.IO cex, Vaultoro, Mercado Bitcoin (Brazil), Gemini.  The app offers additional features like charts and technical indicators like Bollinger bands, stochastic, fibonacci, MACD, moving average and RSI, as well as trading alerts.

 

Methods of payment

 

Exmo is providing numerous and convenient ways for its clients to fund their accounts. The exchanges accepts bank transfers and credit and debit cards for all types of fiat currencies, PayPal for deposits in USD and EUR, OKPay, PerfectMoney and Neteller for EUR and USD, Yandex Money for RUB and several other methods of payment through e-wallets and prepaid cards. The fees vary, depending on the deposit type, with a range of 1-8%, fixed fees or percentage + a fixed sum.

 

Exmo also accepts deposits in cryptocurrencies, most for no fee, except for Kick - 50 KICK.

 

Withdrawals are possible through the same options as deposits, for different fees, depending on the type.

 

>> See other crypto exchanges accepting cards <<

 

Conclusion

 

Exmo has been in business for quite a while, relatively to the cryptocurrency exchanges, and enjoys a fairly wide customer base. At the time of writing this review, the company’s stats claims it has nearly 32 000 active traders and a 24-hour volume of 4788 BTC. It seems that even the Russian regulators’ attempts at obstructing it cannot really stop it.

 

What we like the most about Exmo is that it offers quite a few cryptocurrencies for trading and accepts fiat currencies beyond the standard fare of USD and EUR (sometimes). Another big advantage of Exmo are the numerous funding options, including credit and debit cards for all types of currencies, PayPal for EUR and USD and the more than decent selection of e-wallets. We also like that clients can also trade on their mobile devices through the Tab Trader app.

 

As with all other exchanges, Exmo is far from perfect and certainly has its issues, but from a layman’s point of view, it works well and gets the job done.

 

 

Latest news about Exmo
No news about Exmo. Check back later.
Forex
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

Traders` reviews for Exmo

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

The worst exchange

You will not know their's real face.
They don't demand your verification.
So actually anyone can trade by just make an account.
This is important. It's trap!

I send my funds from Exmo to other place.
And at the first there was a transaction history when I was sending my funds. It's "Verifying".
But later it has been deleted. And My funds has been missing from my balance.
So I send many email to Exmo. But they don't answer anything.
Support team just say, I posted it to technical team.
And there was nothing.

Beware!

xcoinan 02/08/2018

I confirm they are thieves

XRP sent from Bitstamp to Exmo. Transaction confirmed by network, right wallet address, right destination. Nothing arrived on my wallet. Customer support does not answer.

Nicolas 02/01/2018

Platform does not return your coins

exmo is scam,


platform does not return your coins, do not deposit or open an account on the platform. an ICO is all deceit. in the telegram group there are only 180 people and who complains about something they erase the message after they block you. this platform and pure deception. do not lose money SCAM SCAM SCAM SCAM

cadu 01/31/2018

Do not recommend this exchange!

Do not recommend this exchange!
Very low trading volumes
cant withdraw
support 20 days no reply

tony 01/05/2018

Do not use them!

These guys are scumers and cheaters, stole coins and lose your time. They are slow as hell.

CryptoMan 12/25/2017
de | cn | ru