de | cn | ru

DX Exchange Review - Is it scam or safe?

DX Exchange review - Is dx.exchange scam or safe cryptocurrency exchange?

RATING: 0 / 3 REVIEWS DX Exchange
DX Exchange is not regulated. We cannot guarantee your money is safe.

RECOMMENDED BITCOIN BROKERS


DX Exchange is a new Estonian cryptocurrency exchange set to start June 2018 that has received significant media coverage due to some of its unique features. It is operated by Coins Marketplace technologies, based in Tallin. The CEO Daniel Skowronski has given interviews to many media outlets laying out his plan for this new and exciting enterprise. 

 
So whats all the fuss about? 
 

Advantages

 

Top-notch regulation 

 

Estonia the past years has proven to be a cryptocurrency-friendly country and has gone to great lengths to prove it. The legislators are keen on working together with brokers and cryptocurrency exchanges in order to integrate the otherwise anarchic state of the cryptoworld. The Ministry of economic affairs and communications gives out licenses for providing services of exchanging a virtual currency against a fiat currency and for operating a virtual currency exchange. 

 

Here lies DX Exchange greatest strength – the body behind it (Coins Marketplace Technologies OU) is licensed under the Estonian MKM. This DX proudly states on its website and has also given links to their license numbers for interested parties. It has to be said that this lends the company legitimacy and is what makes it exciting for potential traders of cryptocurrency. 

 

Nasdaq powered

 

Another feature, much highlighted by the CEO, is the partnership between DX Exchange and the well known and well established technology provider for stock exchange Nasdaq. The pluses of this joint venture are many sided. It must be said that DX Exchange is not the official virtual currency exchange of Nasdaq, being only backed by its infrastructure, more specifically – the matching engine which is used by over 70 exchanges around the world. The trading platform is not yet launched, but the partnership looks promising. Another plus is the brand name, as well as Nasdaq's regulation. The CEO Skowronski points out that working with Nasdaq obliges his company’s compliance with the highest regulatory standards such as a Cysec market maker license. This, together with the newly acquired Estonian license, significantly lowers the risk of common errors and bugs, most importantly – prevents fake volumes. 

 

This framework will allow DX to offer its clients a variety of crypto trading options and to hold customers funds.

 

Potential customers from US are still excluded at this point, however, according to Finance Magnates, the management is currently engaged in a dialogue with american regulators in order to obtain a federal license. 

 

Trading options 

 

Clients will be able to trade tokens for tokens, purchase crypto with fiat money as well as convert the coins back to fiat and withdraw it. When the platform is launched it will include top coins such as Bitcoin, Ethereum, Bitcoin cash and Litecoin. The CEO has said that he expects to include 25 more crypto currencies in the first months after the start. Such a wide range of trading options should always be counted as a plus, especially if the company is backed by the necessary regulaton, as is the case. 

 

No trading fees

 

Another unique trait of the company is the lack of trading fees for clients. Although the traders will have to pay a monthly fee of around 10 euros, all trading up to 50 000 euro will not be charged. 

 

Disadvantages 

 

Yet to be seen

 

Conclusion

 

The company’s much awaited Nasdaq-backed platform still hasn’t been launched and trading is yet to commence. We can rely only on information found in the website and the words of the CEO Skowronski. From what we have seen and heard– the newly spawned cryptocurrency exchange seems an exciting venture, well regulated and well backed by state of the art technology and infrastructure. Estonia has proven to be a reliable location for the crypto world and the launch of this new company is well in line with the country’s tendency on this matter. However, only time will tell how DX Exchange’s hopes and plans for the future will unfold. 

 

Latest news about DX Exchange
No news about DX Exchange. 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 DX Exchange

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

 

 

dx.scam not withdraw

not withdraw

flavio 01/23/2019

dx.exchange is scam, beware

Users can not withdraw their funds. Support do nothing for weeks.

s4m 01/20/2019

Caution: allowing deposit but not allowing withdrawal of funds

Hello,

I don't want to burst everyone's bubble, but there is potential for a very big Scam. I have signed up and I have used it for about two days now.
It is very easy to join, easy to deposit cash, easy to trade but if you try to withdraw you may get a warning, account not verified.

Why would the exchange allow me to put in funds, trade if I cannot withdraw. it means users will pump in a million dollars and the company can keep the funds with KYC excuses. HITBTC all over again.

Remember as your funds are stuck you are paying monthly fees. SCAM?

They have an opportunity to redeem the image by not allowing deposits/trade as well until KYC is approved like any reputatable financial institution.

Don't take my money if you can't give it back after your fees.

Jerry Mrima 01/10/2019
de | cn | ru