de | cn | ru

DOBI Trade Review - is it scam or safe?

DOBI Trade Review - is dobitrade.com scam or good cryptocurrency exchange?

RATING: 2 / 4 REVIEWS DOBI Trade
DOBI Trade is not regulated. We cannot guarantee your money is safe.

RECOMMENDED BITCOIN BROKERS


Trading Accounts and Conditions

 

Account type Min. Deposit Trading fee Withdrawal fee
Standard N/A 0.1 – 0.3% 0.5%

 

DOBI Trade is a comparatively new Chinese exchange which quickly made its way in the top 20 largest exchanges by trading volume. It does not offer trading in that many coins, but new ones are being constantly added.

 

The exchange does not require 2FA authentication, but you can enable it. To be able to use all the functions of the exchange, including withdrawals, you also have to complete the KYC verification procedure.

 

 

DOBI Trade Advantages

 

Platform with good charting

DOBI Trade offers trading on a nice web-based platform that is easy to use and yet seems equipped with everything a crypto trader needs. We especially liked the advanced charting, powered by trading view.

 

 

DOBI Trade’s platform. Click on the image to zoom in.

 

Solid choice of cryptocurrencies, deep liquidity

Clients of DOBI Trade can trade in some of the most popular coins, such as Bitcoin, Ethereum, EOS, as well as Moving Cloud Coin, CYCLEAN, Cashcoin, Jesus Coin, and others. These coins are being traded against BTC. ETH and their coin, DOB. It appears that EOS/BTC and ETH/BTC are the most heavily traded pairs at this exchange

 

Competitive trading fees            

Deposits at DOBI Trade are free of charge and trading fees are more or less in line with the industry’s average, ranging from 0.1% to 0.3 % per trade, depending on the instrument. Most crypto exchanges charge 0.2-0.25%.

 

 

DOBI Trade Disadvantages

 

Fiat not accepted

Card payments or bank wire are not accepted at this exchange. As we mentioned in the beginning, DOBI Trade is a crypto-to-crypto exchange and like most similar venues, it does not accept traditional money. This means that if you’re new to crypto trading, you have to buy Bitcoin or another cryptocurrency accepted at the exchange in order to be able to use DOBI Trade or any other exchange that works only with digital assets.

 

Here is a list of fiat-to-crypto exchanges, that accept credit cards:

 

 

>> Buy Bitcoin with credit card <<

 

 

High withdrawal fees

While DOBI Trade does not charge deposits, withdrawals incur a fee of 0.5%, which we find quite high. It may be ok if you withdraw small amounts, but in case you wish to withdraw 10 BTC, the withdrawal fee will be 0.05 BTC.

 

Some popular coins unavailable

Although you can trade in a few altcoins, some popular cryptocurrencies such as Ripple, Stellar, Neo, Dash and more are not listed on DOBI Trade. Some crypto traders might be disappointed.

 

No corporate information

Another thing we don’t like about this exchange is that it provides no information about the entity that operates it, its headquarters, corporate background, etc. even the name of the company operating the DOBI Trade brand is not mentioned anywhere on its website.

 

No margin trading

Like most exchanges, this one does not provide leveraged trading either. If you need to gear up your trading, some major exchanges, like Kraken, offer such an option. You can also check up Dobi’s OTC platform that probably provides margin trading.

 

 

Conclusion

 

DOBI Trade is a Chinese crypto-to-crypto exchange that is probably not suitable for newbies, as it does not work with fiat. The trading platform offered is good, and trading fees are not high, but we cannot say the same for the withdrawal charges. Another thing that bothers us regarding DOBI Trade is that it has not mention the company operating the brand.

 

Apart from being a crypto-to-crypto exchange, DOBI Trade is also a cryptocurrency ATM manufacturer, and developer of coin-related items such as mining watches. It also has an OTC trading platform.

 

 

>> Regulated brokers offering crypto-trading <<

 

 

To sum up the above:

 

Pros Cons
Platform with good charting Fiat not accepted
Solid choice of cryptocurrencies, deep liquidity High withdrawal fees
Competitive trading fees Some popular coins unavailable
  No corporate information
  No margin trading

 

Latest news about DOBI Trade
No news about DOBI Trade . 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 DOBI Trade

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

 

 

No corporate information

scammers !! of cuz they have no corporate info !!

meerim aizhamal 08/23/2019

Many scam coin listings (DO NOT USE DOBI)

It lists so many scam coins I can't believe I did not see a single review about it. Scammers also operate romances scam to promote coin listing on dobi. (https://www.reddit.com/r/tifu/comments/cipjxx/tifu_by_getting_scammed_over_100k_usd_by_a/)

Go look at different coin pairings in the platform and look at the entire history. Many coins it lists drop over 10X, 100X, 1000X on day 1 and drops further.

It also has so much fake volume. Even the spread in BTC/USDT is as large as >5%

Anonymous 08/04/2019

withdrawal

to put cryptocurrencies on your dobi wallet its not a problem. but if you want withdrawal any cryptocurrencies to another wallet, it does not work! the cryptos are still freeze!!!!!!!!!!!!!!!

freddy 05/11/2019

I do not trust dobi at all

Dobi it can be a potential scam in a kinder suits! I never came a cross an exchange that hold your widrawal for days because of a holiday! They are scam that is my take

My account is fully verified but I still wait for widrawal held by dobi for more than 3 days

Anonymous 02/03/2019
de | cn | ru