de | cn | ru

INOEX Review - is it scam or safe?

INOEX Review - Is inoex.exchange scam or good cryptocurrency exchange?

RATING: 2 / 0 REVIEWS INOEX
INOEX is not regulated. We cannot guarantee your money is safe.

RECOMMENDED BITCOIN BROKERS


INOEX is an entry level crypto exchange based in Brazil, offering a variety of crypto coins traded against Bitcoin with a leverage of up to 1:10 and the MetaTrader5 platform. INOEX is not regulated and its services are available only to Brazilian citizens.

 

INOEX Advantages:

 

74 coins offered

 

When we tested the INOEX trading platform with a demo account, we counted more than 70 major crypto coins, among which Ethereum, Ethereum Classic, Ripple, Dash, Monero, Zcash, Stellar, Bitcoin Cash, IOTA, Cardano and Litecoin. All of them are traded against Bitcoin and honestly we are not exactly sure if the pairs are just crypto CFDs or if you are purchasing the coins for real. In any case your profit or loss is calculated in bitcoins, which you can withdraw for real.

 

Fiat currencies accepted

 

At INOEX you can purchase Bitcoins or USD Tethers with Brazilian Reals, or USD Tethers with Brazilian Reals. The BTCUSDT spread, however is about 80 USD, and that is at least twice the levels we usually see on the market. 

 

Also, unfortunately you can make a deposit only with a bank transfer or a Zencard - no credit or debit cards are accepted, e-wallets like Neteller, Skrill or PayPal neither. Besides, here you маъ also check our list of brokers, accepting payments with Bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

MetaTrader5 supported

 

The presence of a trading platform like the MetaTrader5 is always good news. It has user friendly interface and features numerous market indicators and customizable trading bots, which can be used for automated trading sessions.

 

 

The charting tools are also top-notch, so here you may check our list of brokers offering the MetaTrader5:

 

>>MT5 Brokers<<

 

1:10 leverage

 

A leverage of up to 1:10 is not bad for a crypto exchange, because with most platforms there is non. That is another reason to assume that the crypto pairs offered on the INOEX trading platform are CFDs. 

 

INOEX Disadvantages:

 

Not regulated

 

As the emerging crypto market is still young and largely unregulated, most crypto exchanges operate without a license. 

 

INOEX is owned and operated by G44 BRASIL SA, which is based in Brazil, but is not registered with the local Securities and Exchange Commission of Brazil or Comissão de Valores Mobiliários (CVM) as all companies offering financial services in the country should.

 

Of course INOEX might argue that they are a crypto exchange and does not need to register with the Commission. Still, if you really value the security of your deposit you can always check our list of brokers regulated by the Financial Conduct Authority in the UK, which among other benefits guarantees traders their deposits up to 50 000 GBP with a special client compensation fund: 

 

>>FCA Regulated Forex Brokers<<

 

Brazilian citizens only

 

INOEX accepts Brazilian citizens only. Still if you have a Brazilian Cadastro de Pessoas Físicas (CPF), you will be able to trade with INOEX no matter if you are based in Brazil or elsewhere.

 

Not suitable for active trading

 

INOEX charges you a 0,50% trade fee and that is twice higher than usual. Note that on most crypto platforms the trade commission is around 0.20% to 0.25%. That makes INOEX unsuitable for active trading.

 

Relatively high withdrawal fees

 

INOEX charges different withdrawal fees, depending on whether the wire transfer is made via an authorized bank, other banks or with a Zencard. Besides the minimum withdraw fee is as high as 100 USD. See for yourself:

 

 

The minimum deposit with INOEX is set at 0,0002 BTC or 100 USD in Brazilian Reals.

 

Conclusion:

 

The relatively high trade and withdraw fees make INOEX unsuitable for active trading. And as we noted, because the crypto market is still relatively new and unregulated, investing with  crypto exchanges is associated with some risk, which, if you want to avoid, better choose one of our regulated brokers, offering Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

 

Latest news about INOEX
No news about INOEX. Check back later.
Forex
Broker Country Regulation Min deposit Max payout Review
Australia ASIC $50 88% Review Website
Cyprus CySec $200 89% Review
Cyprus CySEC $250 83% Review

Traders` reviews for INOEX

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

 

 

de | cn | ru