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BTCBOX

BTCBOX Review
Trader's rating 0
Editor's rating 4

Trading Accounts & Conditions

Account type Leverage Maker Fee Taker Fee Deposit Fee
Standard 1:3* 0%** 0%** Free

*margin is not granted instantly.
**only applies for BTC trading. There is a 0.20% fee on altcoin trading.



BTCBOX is a Japanese cryptocurrency exchange. They operate from the domain btcbox.co.jp and should not be confused with btcbox.in – a platform which supposedly provides “free Bitcoin”, but has received multiple negative reviews. The distinction is quite important as the Japanese exchange appears to be a very reputable one.



 
BTCBOX Advantages



FSA Licensed
– BTCBOX is the eight cryptocurrency company to be overseen by the Japanese Financial Services Agency (JFSA). This brings a lot of credibility to their offer, as not a lot of Bitcoin exchanges are regulated by a reputable financial watchdog. They also provide information about the actual company behind the project and their banking partners. While this sounds natural for a regulated company, it isn’t always the case with shadier trading venues. Two-factor verification is also provided.


 
Decent fees, BTC is free – trading Bitcoin at BTCBOX comes without any costs. That being said, altcoin traders will be charged a 0.20% fee. This applies both for market “makers” (the people who place passive orders in the book) and “takers” (the ones who buy or sell at the best price available). This is pretty much the standard at this point in time – not too high, but also not too low, when compared to the competition.


No deposit fees
– there are no deposit fees on blockchain transfers to BTCBOX. Additionally the company does not charge anything extra on bank transfers. While certain costs will be involved in either form of deposit (be they mining or banking), the company does not take anything extra.



1:3 in leverage
– BTCBOX is one of the few exchanges to facilitate margin trading. However, according to company policy each trader willing to borrow coins will have to be processed manually. This means it could be hours or even day before you are approved to receive it. This can definitely be an issue for aggressive traders, who are willing to jump on a chart setup. They will be much better suited with a forex broker.



 
>>Leveraged BTC trading<<




As you may already know a lot of these more traditional financial companies have started providing Bitcoin (and altcoin) trading. This is achieved via CFDs, which is slightly different than setting up a cryptocurrency exchange. In essence you only speculate with the price of the given coin, without owning it. For more information, check the full guide.




Japanese banking support – BTCBOX accepts Japanese Yen deposits. This makes them a great entry-level exchange for the locals.



>>Buy Bitcoin with a credit card<<



Two trading platforms – trading at this exchange is done via two interfaces. One of them is rather simple and rather nice. Additionally, a more “professional” version is also available. It offers solid charting and is arranged even more conveniently. Here is the preview (click to zoom in):
 



 

BTCBOX Disadvantages


Focus on Japan – while English and Chinese versions of the website, this is still an exchange primarily oriented towards Japan. We are not certain if the support will be up to par with the one provided by other companies (although basically everyone has received negative comments on this point).



Margin is not instant – the fact margin has to be provided to clients on an individual basis can be troubling. We haven’t tested the service, but just by reading the terms we expect delays to be quite possible.



Only four coins available – the short list of digital assets available at BTCBOX includes: BTC, BCH, LTC and ETH. Volumes on the ones other than Bitcoin are rather low.


Trading only against JPY – this is another thing limiting non-Japanese clients. It’s just company policy and there is nothing wrong with that, but we must mention it.


Withdrawal fees present – while they are small, these fees may irritate some users. The Bitcoin one is 0.001BTC.


No user reviews in English – BTCBOX doesn’t appear to be popular in the West. This is to be expected, given the previous factors.



Conclusion


BTCBOX is a Japanese cryptocurrency exchange, which is regulated by the Financial Services Agency (JFSA). This makes them a much more credible company than most of the competition. They provide access to Japanese customers to the world of crypto, as they even accept bank transfers. That being said, they may not be the ideal trading venue for a foreigner.

While this is a highly regulated exchange, the world of cryptocurrencies still carries a level of risk. If you are only looking to speculate with the price of Bitcoin, doing so with a forex broker may be preferable. View the link below for more details on the way regulation for forex brokers, offering Bitcoin works.


>>Regulated Bitcoin forex brokers<<



 
Here is the summary of BTCBOX:

Pros Cons
FSA Licensed Focus on Japan
Decent fees, BTC is free Margin is not instant
No deposit fees Only four coins available
1:3 in leverage Trading only against JPY
Japanese banking support Withdrawal fees present
Two trading platforms No user reviews in English

 

OKEX

OKEX Review
Trader's rating 1
Editor's rating 4

Trading Accounts

Account type Minimum deposit Leverage Fee
Standard Undisclosed 1:20 0.03%


OKEX is a digital asset exchange, under the umbrella of OKCoin. The situation with the two is similar to how GDAX is owned by Coinbase – one brand is targeting retail consumers, while the other one is dedicated towards serious traders.


 
The company, security of funds

Company Country Regulation
OKCoin.cn Inc China N/A

 

OKEX is the more trading-focused version of OKCoin. The company behind both projects is based in China. This can explain the relatively low popularity of this exchange in the west. This is also combined with the concerns about Chinese regulatory actions in the cryptocurrency space, as the country recently banned ICOs.



The most unique things about OKEX are the stand-alone desktop platform (which we will get to later) and the availability of Bitcoin and Litecoin futures contracts.



OKEX hasn’t been the target of major hacks yet. While this brings some assurance, in terms of security, it does not guarantee this will not happen in the future.



There aren’t many user reviews specifically for OKEX, but as the company is part of OKCoin, we can assume they offer the same level of service. Those who were frustrated with the way USD bank transfers support ended are the least happy customers.



Trading conditions


 
Trading instruments (cryptocurrencies)

The available assets at OKEX are BTC, ETH and LTC. They are being traded against the USD and CNY. That being said, BTC and LTC futures contracts are also available on this exchange. While they are presented as a way for miners to hedge their risk (which was the original idea behind futures contracts), we would not recommend beginners to delve into them as the liquidity may be substantially lower.



Minimum initial deposit
No information on the minimum initial deposit is available at OKEX. We are used to forex brokers providing a minimum level, which is usually around the $100 mark (as is the case with easyMarkets, for instance). However, in the cryptoverse, not demanding a minimum deposit isn’t anything special.


 
Leverage
The maximum leverage at OKEX is 1:20. While this may seem like nothing, when compared to the ratios which some forex brokers offer (like the 1:888, provided by XM), it is high. The main reason for that is that cryptocurrencies tend to be a lot more volatile than the traditional forex pairs, which rarely experience daily moves of more than 1-2%.


 
Fees
The fees at OKEX are probably the lowest in the industry, at the time of writing of this review. There is a 0.03% fee for opening a new position and nothing is charged for the closing transaction. This is a lot better than the average of around 0.20-0.25%, offered by most other exchanges. On the other hand, the forex brokers, who provide Bitcoin trading include their costs only in the spread. While it is a bit hard to compare spreads and commissions based on size, you can check out this post to get a better picture.



Trading platform


 
OKEX is one of the few crypto-exghanges which offers a stand-alone desktop platform. While you may be used to browser-based trading, there are a few advantages to having a separate piece of software. Most notably, if you are running on low to middle end hardware and like to open multiple tabs, you have probably already ran into memory issues. Having to run a trading platform alongside them doesn’t help in that regard. Additionally, the platform offered by OKEX allows multiple-monitor support. With a click of a button you can duplicate the entire layout multiple times and move it to another monitor. Here is a preview of how a single window in the platform looks:

 


 


Charting is provided by the OKCoin proprietary system, which is a lot better than many other solutions. The order book and tape are located on the right and while the numbers may appear to be rather small there probably is an option to increase the font. That being said, we come to the biggest weakness of the platform – it is only in Chinese (or at least we didn’t find the way to switch to English).



Methods of payment


 
OKEX is directly linked to OKCoin, so you can make a CNY transfer to the latter and trade on the more sophisticated exchange. Additionally cryptocurrencty transfers in BTC, ETH and LTC are accepted.


 
Conclusion


 
OKEX is a digital asset exchange owned by OKCoin. The company behind both of them is based in China and focuses primarily on the domestic market. OKEX offers extremely low trading fees when compared to the competition. That being the case, only three coins are available for trading. The addition of futures contracts may be nice for miners willing to hedge their “crops”, although we would not recommend trading in them unless you are very experienced. Here is a summary of OKEX:


 

Pros Cons
Very Competitive trading fees Few coins available
No major hacks yet Trading platform only in Chinese
Owned by OKCoin  
Desktop trading platform  
High liquidity  
BTC and LTC futures available  

 

Forex
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