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QRYPTOS

QRYPTOS Review
Trader's rating 2.1
Editor's rating 3.8

Trading accounts

 

Account type Minimum deposit Leverage Maker Fee Taker Fee
Standard Undisclosed Unknown -0.075% 0.15%

QRYPTOS is the second brand operated by QUOINE (with QUOINEX being the main product they are famous for). While this may seem curious to those who aren't familiar with the crypto space, there is a simple reason for running two companies – they offer different services. Their first project is aimed at cash to cryptocurrency transactions, while QRYPTOS focuses on exchanging one digital asset for another. The situation is very similar to the one at Coinbase and GDAX.

 

 

The company, security of funds

 

Company Country Regulation
QUOINE Pte. Ltd Japan/Singapore/Vietnam JFSA

 

QRYPTOS is owned QUOINE Pte. Ltd., a company with offices in Japan, Singapore and Vietnam.  When it comes to their viability as an exchange, they are regulated by the Japanese Financial Services Agency (JFSA). This is more than what most competitors in the crypto-space can claim.

 

QUOINE was founded in 2014 and their latest project, QRYPTOS is even younger. A lot of its features, like the mobile apps are still under development. We will update this review, once major changes occur. 

 

Substantial hacks have not yet occurred at either of the companies operated by QUOIN. That being said, we must mention the most notable case of a technical issue, experienced by the parent company. One of their largest traders (the firm B2C2) made a $3.7 million profit, after allegedly “exploiting a glitch” in the QUOINEX trading software. The transaction(s) were later reverted, leading to a lawsuit. Not much is known about the details of this event. For the sake of clarity we must mention, this whole saga happened before the company received the JFSA regulatory approval.

 

As the QRYPTOS project is fairly new, there also aren't that many user reviews.

 

Trading conditions

 

 

Trading instruments (cryptocurrencies)

Quite a few coins are available at QRYPTOS. The full list includes Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, Ethereum Classic, Monero, Zcahs, Sellar, Dash, Augur and NEM (13 trading pairs in total). While the selection isn't as big as the one provided by Bittrex, for instance, it is still very solid.

 

Minimum initial deposit

We didn't have information about the minimum deposit at QRYPTOS. On the other hand, forex brokers usually provide this freely. As an example, one of the world's leading FCA-regulated brokers (which also offers Bitcoin and Ethereum trading) IG doesn't have an entry bar. One can open an account with the company for as little as she wants. For a full comparison of the two different services, read this post.

 

 

Leverage

There is no information on the leverage available at QRYPTOS. The company’s other brand QUOINEX offers a 1:25 ratio, but a lot fewer products (and a different fee structure, more on that later). We are unaware if this functionality will be integrated with QRYPTOS. Keep in mind, cryptocurrencies tend to be a lot more volatile than traditional ones, where forex brokers offer amazing leverage levels, such as 1:500.

 

 

Fees

The main way of attracting volume to the QRYPTOS exchange is the fee structure. While a lot of exchanges offer slightly better conditions for market makers, going into negative territory I.e. paying rebates for providing volume is usually reserved for the big traders. QRYPTOS offers a 0.075% rebate for everybody who provides liquidity on their platform. The taker fee is a very competitive 0.15%. In effect the company is giving 50% of its profit to the passive traders.

 

Before you think, you can become a liquidity provider at QRYPTOS and make money without taking any risk, we will have to clarify how exchanges work. A market “maker” (not to be confused with a forex market maker) is a trader who places pending orders on the exchange, hence filling the “order book”. A taker is anybody who sends a market order, entering directly at the best possible price. If you decide to be a liquidity provider, who simply aims to profit from the buying and selling of others, you will still be taking a significant market risk. Whenever a swift market move occurs, your will be taking the other side. On top of that the field is very competitive, with a lot of algo players.

 

Trading platform

 

The platform provided by QRYPTOS is web-based, with mobile apps promised for the future. Traders can fully customise the layout to their preference, but the main limitation of browser platforms still applies – everything must be in the same window. When it comes to the charting, one can choose between the charts provided by either TradingView or Cryptowatch. Here is a preview of the default layout:

 

 

As you can see from the picture, the charts aren’t properly configured yet, or the trading activity is rather minimal. Additionally they have maintained one of the features from QRYPTOEX, which we didn’t like – the order book is still placed vertically. As far as our tinkering with the platform, we couldn’t find a way to make it appear better. That being said, this still a fairly new project, so such things should not be surprising. 

 

Methods of payment

QRYPTOS only accepts cryptocurrency transfers. They are possible in all of the coins, which the company supports. On top of that, you can use your QUOINEX account as a means of depositing money with the company.

 

 

Conclusion

QRYPTOS is the second brand operated by the JFSA-regulated company QUOINEX. While their initial project QUOINEX is oriented towards attracting new people to the cryptocurrency space, this one is for the more experienced traders. With 13 trading pairs this exchange offers some alternatives, but is by no means an altocoin heaven. The entire QRYPTOS project is still in its early days, and we will update this review, once more information is available.

 

Pros Cons
JFSA Regulation Not enough user feedback yet
No major hacks yet Not that many altcoins available 
Competitive commissions (including rebates) The order book is placed vertically (as in QUOINEX)
Customizable trading platform   
Several trading instruments  

 

BDSwiss

BDSwiss Review
Trader's rating 0
Editor's rating 3.7

Basic Information

 

Minimum deposit  Min./Max. bet size Payout %  Deposit Bonus  Trading platform Regulation
$100  $5/ $1,500.00  Up to 85%  N/A SpotOption  CySEC


Formally known as Bank De Swiss, BDSwiss is a reputable European Binary options broker, offering trading in over 200 underlying assets on the most popular SpotOption binaries platform under quite competitive trading conditions.


BDSwiss` customers get access to comprehensive training materials to help them optimize their trading strategies. The broker offers rich education center on its website, online webinars, live seminars, market news, economic calendar and more.


Trading Accounts


BDSwiss offers a single type of account, which is rather unusual, as most binaries brokers differentiate their clients based on their initial deposit. This means that BDSwiss clients may not choose between different account types, but ion the other hand, treating all clients equally is a good thing.


Besides, BDSwiss does not offer demo account either. While many consider this a disadvantage, it is also true that many demo platforms do not mimic the actual trading on the site.


The Company. Security of Funds


BDSwiss is one of Europe’s leading financial institutions specializing in Forex/CFD and Binary Options trading. It also appears to be quite popular with traders.


BDSwiss is operated by BDSwiss Holding Plc, a Cyprus Investment Firm (CIF), licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).


In order to provide a certain level of security, Cypriot financial watchdog applies a set of rules and requirements to license holders.


First of all, CySEC requires Cyprus-based brokers to hold a minimum of €730 000 in order to prove their good financial standing. Moreover, all CySEC-regulated companies are members of the Investor Compensation Fund, which may cover tour investment loss to a maximum of 20,000 EUR per person in the event that the broker becomes insolvent. Such compensation schemes serve as an additional guarantee to clients’ funds.


In addition, as CySEC is part of the European MiFID regulations, and the companies regulated by the Cypriot financial watchdog are free to operate in all EU Member States.


Trading Conditions


Trading Options: Call/Put, 60 seconds, Pairs, Long term, One Touch, Ladder
Assets: Stocks, Indices, Currencies, Commodities
Expiry Times: 60 sec, 90 sec, 120 sec, 180 sec, 300 sec, 30 min, 1h, 2h, 4h, 8h, 12h, 2d, 3d, 4d, 5d, 6d, 7d

 

Minimum Initial Deposit
The minimum initial deposit for clients of BDSwiss is $100, which is attractive, since most binaries brokers usually require $200 - $250. For instance, Cherry Trade, a broker operating out of the Caribbean. requires $200 from traders to open an account.

 

Min/Max bet size
The minimum bet size with this broker is just $5 (for 60 Second Options), which is on the lower end of average. In comparison, with OptionsClick one is able place a trade with at least $10. Such low minimum bet sizes allow better risk management.

 

Payout amount
The payout provided by this broker varies by different options, but is usually between 65%-85%, which is on the upper end of average.


In comparison, HY Options’ payout for the EUR/USD pair A Day binary Up/Down for EUR/USD offers a payout of 85%. 60 Seconds Binary Options have a payout of 70%.


Of course, the higher the percentage payout offered by the broker, the larger the traders return would be.

 

Trading Platform


Like many binary options brokers, BDSwiss supports the most widely used binaries trading platform, SpotOption. All popular binary options are supported: Call/Put, 60 seconds, Pairs, Long term, One Touch, Ladder. What is more, it offers some additional option features (In the overview of open positions).


Instead of letting your option expire, you can use “Sell”, “Double Up” and “Rollover” to adjust your option individually, if, for example, market conditions change.


As the name suggests, “Sell” gives you the opportunity to sell your option before it expires. If you are confident in the current trend, you have the opportunity to “Double Up” which will open a new option with the same conditions of your open position, but at the current price. Finally, if you think your option needs more time to move in the desired direction, you can extend the expiry time by using the “Rollover” feature.

Bonuses
Unlike most binary brokers, BDSwiss does not have a set bonus structure. On-deposit bonuses are not offered on a constant basis, but are instead available at various times for a limited duration.


Instead, this broker offers $100 refer a friend bonus.

 

Methods of Payment


There are a number of payment methods available to BDSwiss’ clients: Credit/Debit cards, Bank Wire, Skrill, Neteller, Giropay, eps, Sofort & Ideal.


Keep in mind that withdrawals under €100.00 will be charged with a €25.00 processing fee.


Conclusion


BDSwiss is a regulated and reputable binaries broker, offering outstanding range of assets and trading options, while keeping their account structure simple and their plat form easy to use. To sum up the above, here are the advantages and drawbacks in relation to this broker:

 

Pros  Cons
Regulated broker No deposit bonus 
Low minimum bet size & min. initial deposit No choice of trading accounts, no demo either
Payout up to 85%   
Wide range of tradable assets & instruments  
Refer a friend bonus  
   

 

 

Headquarters: Makariou III Street 160 3026, Limassol

Country: Cyprus

Regulation: CySec

Forex
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