de | cn | ru

Omicrex Review - is it scam or safe?

Omicrex Review - is omicrex.com scam or good cryptocurrency exchange?

RATING: 2.5 / 1 REVIEWS Omicrex

RECOMMENDED BITCOIN BROKERS


Trading accounts and conditions

 

Account type Leverage Fees
Standard 1:1

0.25% taker, 0.15% maker*

 

*Omicrex has a tiered fee structure, depending on the client’s deposit and trading volume in the last 20 days. For market takers it can go as low as 0.1% and for market markers – to 0%.

 

 

Omicrex (Omicron Crypto Markets) is a new cryptocurrency exchange that launched in the beginning of 2018. It is located in Greece. The exchange allows trading in cryptocurrencies for fiat currencies (EUR, GBP and USD) and cryptocurrencies for cryptocurrencies.

 

Omicrex advantages

 

- Accepts Fiat. Omicrex allows exchanging of cryptocurrencies for fiat currencies and the other way around, which is becoming increasingly common, considering the high interest of the general public in making a quick buck from the crypto boom.

 

- Convenient fiat deposits. Omicrex says it accepts deposits through the major brands of credit cards and bank wire. The platform creators also plan to add deposits and withdrawals through China Union Pay and Neteller. For now withdrawals are only available through a bank account.

 

>> See crypto exchanges accepting credit cards <<

 

- Lots of cryptocurrencies. Omicrex has a decent portfolio of cryptocurrencies on offer: BTC, BCH, ETH, LTC, EMC, UST, EOS, IOTA, XMR, NEO, XRP, ETC, with plans to offer more in the future. Some are only available for trading against BTC, but when there is enough liquidity, the exchange is enabling trading for fiat. Usually most exchanges who offer trading of cryptos for fiat have a relatively limited set of coins on offer.

 

- Good Platform. Unlike many of its peers who only offer a simple buy and sell template, Omicrex has a proper trading platform, with all the needed tools for more advanced trading, if need be.

 

 

- Many Order types. Omicrex supports several types of orders: Limit orders, Market orders, Stop orders, Stop-Limit orders, Trailing Stop orders, Fill or Kill orders, One Cancels Other orders, Hidden orders and Post Only Limit orders.

 

- Multiple accounts supported. Omicrex has two types of accounts: personal and corporate. Clients can also have multiple accounts (within reason).

 

-  Own Wallet. In its FAQ section Omicrex says it offers an e-wallet for its clients. It can be used to store cryptocurrencies, even if the user does not trade.

 

- Good Security. Omicrex says it has cyber security experts to keep the website secure from DDos and hack attempts and uses 2FA systems for authentication. The client funds are kept mostly in cold storage, which is fairly secure.

 

Omicrex disadvantages

 

- Minimum Deposit requirement. Omicrex has set a minimum deposit requirement of USD or EUR 50. It is not much, but is a requirement nevertheless.

 

- No Anonymity. Omicrex is AML/KYC compliant and requires its client to identify themselves with an ID document and a proof of address (POA) (for individual accounts) and corporate documents and information on each of the directors accompanied by proof of identity and POA for each of the directors.

 

- No Leverage. Omicrex does not offer leveraged trading, similarly to most cryptocurrency exchanges. For most crypto enthusiast this is not a huge disadvantage. Those who are willing to engage in speculative trading, but do not need to own the coins, can sign up with a regulated forex broker (if they haven’t done so yet) and trade in CFDs with cryptocurrencies as an underlying asset.

 

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

 

- No Regulation. Like most cryptocurrency exchanges, Omicrex is not regulated either, so dealing with it can be somewhat risky. On the other hand, however, most countries have not put in place regulatory requirements for cryptocurrency exchanges yet.

 

- Countries limitations. Omicrex does not accept clients from Afghanistan, Bosnia and Herzegovina, Burundi, Democratic Republic of the Congo, Côte d'Ivoire, Crimea, Cuba, Eritrea, Ethiopia, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Kenya, North Korea, Laos, Lebanon, Liberia, Libya, Nigeria, São Tomé and Príncipe, Somalia, South Sudan, Sudan, Syria, Tanzania, Tunisia, United States, Uganda, Ukraine, Venezuela, Vietnam, Vanuatu, Yemen, Zimbabwe. The residents of most of those countries would hardly engage in cryptocurrency trading, and many of them are subject to various international sanctions.

 

Conclusion

 

Being quite new, Omicrex did not have enough time to gain reputation or many clients. At first sight, however, it seems that the people behind it are striving to provide convenient and reliable service with fair conditions and attract customers.

 

For now it is too small to make an impact on the industry, but perhaps it can grow.

 

 

 

 

Latest news about Omicrex
No news about Omicrex. 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 Omicrex

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

 

 

Trader since month into Omicrex inception

Omicrex had issues when it first started technically wise - but all exchanges and projects do, so I don't really see it lower for that. I've had a lot of money stuck in Bitfinex and Poloniex and it took me a few months to get the money out from each exchange, respectively.

Omicrex never had this issue even though they see a marginally large size of traders for how old the platform is. I always had the money where I wanted it and thus I will likely continue to use it - my biggest frat is the small selection of coins but I think that's changing according to their website

Greg Shmor 03/16/2018
de | cn | ru