C-CEX Review – is it scam or safe? explained by professional Forex trading experts the “ForexSQ” FX trading team.
C-CEX Review – is it scam or safe?
C-CEX is a cryptocurrency exchange, which offers a lot of altcoins, making them a competitor to companies like Bittrex and Poliniex.
The company, security of funds
There isn’t much information on the company, or the people behind C-CEX (not to be confused with CEX.IO). Some sources claim it is based in Germany, while a look on their payment methods will suggest a connection to Russia.
While few entities in the crypto-space are actually regulated, at least having the team behind such a project builds trust. When looking at C-CEX the only source of credibility left lies in its user-base. Unfortunately, there are very few positive reviews abut the company. The complaints, on the other hand, are many and very interesting. They cover a lot of different topics, from people not being able to withdraw their money/coins, through a slow verification process to even outright claims the company is manipulating prices. On top of that you have the accusations of C-CEX listing new “assets”, which serve as a way to scam those who are willing to buy them, without doing the proper research.
While user reviews are by no means the most important factor when looking at a crypto-exchange (or anything for that matter), the amount of negative feedback on C-CEX is just overwhelming. To reiterate, had the company done a better presentation, we may have taken the feedback with a grain of salt.
We must also mention, that while making this review, C-CEX experienced several maintenance breaks, as illustrated here:
This may have simply been a bad day for the exchange, but having such events so frequently is enough to drive active traders crazy (not to mention drive them away from C-CEX).
Trading conditions
Trading instruments (cryptocurrencies)
There is a plethora of tokens available at C-CEX. The company’s website currently claims they are 203. That being the case and given what we mentioned in the previous section, remember to always do some due diligence on any altcoin you find interesting.
Minimum initial deposit
C-CEX doesn’t reveal a specific minimum deposit level. This is not that big of a deal in the crypto-verse, although we prefer seeing companies give a sum, below which they will not create a new account. We do mostly review forex brokers and while some have very low entry barriers, most require $100, like HYCM.
Leverage
Margin trading is not available at C-CEX. While this may frustrate the more aggressive traders, given the number of coins offered at the exchange, leverage would have to been offered very selectively. If you wish to trade the more popular cryptocurrencies, like Bitcoin or Ethereum on margin, maybe try doing so with a forex broker.
Fees
The trading fees at C-CEX are a flat 0.20% per trade. While being in line with the industry average, this is not suitable for the big market makers, who even get rebates when providing liquidity at other exchanges.
The forex brokers (who offer crypto trading) on the other hand, typically include all of the costs of trading in the spread you see, before entering the market. This is just one of the specifics, about trading this asset class with them. You can find more details here.
Trading platform
The web-based trading platform provided by C-CEX feels very clunky. For a start the charting package barely does its job.
While the platform has other neat features, like a Twitter feed and chat-box, we fill the developers have missed a lot of marks. Maybe we are used to seeing high-quality products, like MetaTrader4 (MT4) and this simply feels terrible in comparison.
Methods of payment
There are multiple fiat-currency payment options at C-CEX, with distinctions being made between those used for deposits and the withdrawal ones.
Deposits are accepted via: Bank Transfer, Payeer, Perfect Money, OK Pay and a few less-known e-wallets.
Withdrawals can be made to: PayPal, Perfect Money, Credit/Debit Cards, OK Pay, Webmoney and even Western Union.
C-CEX Review – is it scam or safe? Conclusion
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