EXMO Review 2023
The concurring global surge of the crypto sector is giving rise to an empire. Thousands of new users opt for cryptocurrencies nowadays because the trend is the increasing number of promising crypto exchanges. While the sheer options users possess allow diversity, it also creates severe confusion.
Which cryptocurrency exchange is the best? Most traders ask the question every day. To get started, users can opt for esteemed names like EXMO exchange. It is a British cryptocurrency exchange with over 182 cryptocurrencies on offer. The exchange cultivates over 7 years of market experience, making it a reliable choice for every trader.
|Supported Fiat Currencies||USD, EUR, GBP, RUB, PLN, UAH, KZT, TRY|
|Deposit Fees||Crypto deposit – 0%
For Fiat, it vary from payment methods
|Transaction Fees||Depends on Trade Volume
Maker-> 0.3% to -0.05%
Taker-> 0.3% to 0.05%
|Withdrawal Fees||Depends on Currency|
|Application||Android and iOS|
|Customer Support||Email & Submit Ticket Support|
But it is viable for traders to overview EXMO reviews before trusting the platform. Here is the most comprehensive EXMO exchange review on the web to facilitate the purpose. Read the review to understand EXMO products and how it works and performs.
Found back in 2014, EXMO is primarily located in London. The platform harbors 182 cryptocurrencies and is operable in 200 countries. It generates over 24 million dollars in its average trading volume, making it one of the largest crypto exchanges on the web.
EXMO Review – EXMO Platform Interface
Perks like fiat currency support, gift cards, and cashbacks are a norm for the platform. In EXMO’s words, the platform prioritizes the security of customer data and funds over everything.
Beside being exchange, the EXMO platform also offers the flexibility to automate crypto trading experience of the users with API. This allows users to connect with different platforms to automate crypto trading from best crypto trading bots.
About EXMO Coin
No EXMO review can be complete without talking about its native token, EXM (EXMO Coin). EXM is an ERC-20 token developed to offer more rewards and benefits to the EXMO ecosystem.
The token allows traders to leverage perks like:
- Increased referral payments
- EXMO exchange bonuses
- Reduced trading commissions
Buy EXMO Coin (EXM) and Utilize the Benefits
The best way to purchase the token is via a currency pair. Users can reach the exchange official website to find the trading pair products. After choosing the order type and the token, traders merely need to tap on “Buy” to complete the transaction.
EXM facilitates multiple use-cases, such as:
- Gaining additional cashback on EXMO exchange.
- Buying new coins by pairing them with EXM.
- Acquiring voting rights.
In the future, it plans to add new features with the token like:
- Discounts to pay margin fees in EXM.
- Access mining competency with EXMO’s partners.
- Use the token to buy features, allowing automatic copying of best practices from experienced traders.
Features of EXMO
Most experts list EXMO as one of the best cryptocurrency exchanges because of its diverse features. Here is a brief overview of the features:
EXMO Review – Benefits of EXMO Exchange
- Dedicated support for standard currencies, allowing deposits and withdrawals.
- Offers an esteemed look and feels seamless to users.
- 190+ trading pairs purchasable via both crypto and fiat currencies.
- 24/7 customer support in multiple languages like Ukrainian, Turkish, English, and Russian.
- Advanced yet simple trading modes.
- A responsive EXMO mobile app for easy trading, depositing, and verification.
- Exclusive over-the-counter trading service for sales over 100,000 dollars.
- A user-friendly interface with multiple sections for the latest news.
- Backed by SSL to offer esteemed security.
- Online chat facility to reach customer support executives.
- Low flat fee, day trading, trades mode, and a simple AML policy.
Overall, the platform offers a seamless look and experience, meaning it can easily cultivate positive feedback on most EXMO.
Pros and Cons of EXMO Review
With the web inundated with numerous trading platforms, traders ask why EXMO is considered an excellent exchange? To better understand its appeal, here is a listicle overview of its benefits and drawbacks:
|The platform offers 24/7 customer support for traders globally.||It fails to deliver on the Margin Trading front.|
|EXMO accepts multiple payment options, including bank transfers and cryptocurrencies.||US-based clients cannot avail of the platform.|
|Supports 182 cryptos, offering a wide range of options.||The number of cryptos supported fades in front of some exchanges.|
|Multilingual support is available on the platform. (English, Ukrainian, Russian, and Turkish.)||The withdrawals and deposits process can be sluggish at times.|
|Low fiat fee for trading at an approx. 0.2%.||The platform levies several transfer restrictions on transactions.|
|Simple navigation to buy and sell cryptocurrencies.||The deposit fees for methods are significantly high. (Wire transfers are charged 20 dollars.)|
As EXMO harbors over 200,000 customers daily, it is reasonable to assess its advantages and disadvantages beforehand. With numerous perks and slight concerns, the cryptocurrency exchange offers a real-time quality trading experience.
EXMO Review – Services provided by the EXMO Exchange
One of the major reasons why traders go through EXMO reviews is to understand its services in-depth. Its global industry average and exchange mode are also prevalent queries for traders. So, here is an extensive overview of the services:
Crypto and Fiat Currency Trading
The most prevalent purpose of EXMO is to offer digital assets on its next-gen trading platform. Found back in 2014, it now uses brokerage solutions to offer 192 trading pairs. It includes both fiat and cryptocurrencies. Most of the pairs involve USD, EUR, USD, ETH, BTC, or RUB.
OTC Trading Desk
EXMO Exchange Review – Use OTC Trading Desk Services
EXMO offers the best trading experience to traders with its OTC trading desk, designed specifically for experienced traders indulging in transactions worth 100,000 dollars or more. The trades are conducted by esteemed brokers at the best available price without any hurdles. Trading fees and terms vary as per the transaction. Traders can access the service by submitting a form on the official website.
Cashback and User Voting
Like every professional crypto trading exchange, it allows users to submit their votes on decisions like upcoming project modification or crypto listing. Moreover, EXMO allows high-volume trailers to earn up to 70% cashback in trading fees.
EXMO Gift Card
Starting back in October 2020, EXMO started offering gift cards. The cards can be used to transfer funds between users quickly. Token holders can both activate and generate such cards, while fiat currency users can only activate them.
EXMO VIP Features
Alongside an esteemed API for multi-platform trading bots, it also offers additional services for special customers. These users include hedge funds, banks, and similar financial institutions. These traders can avail of VIP services like increased spending limits, professional consultations, individual tariffs, and corporate accounts.
EXMO Exchange Review – EXMO App
Mobile applications are a must in the modern market, and EXMO leverages them as well. Its app is available for both iOS and Android users. The iOS app is preferred by the audience due to its seamless proceedings. However, traders complain about the Android app offering a slow KYC process alongside an unfriendly UI.
EXMO Sign UP Process
Users can quickly create an EXMO account to start cryptocurrency trading quickly. The trading fees for different cryptocurrencies and payment methods vary, and the exchange highlights them.
Here is how users can Sign Up to create an account on EXMO:
- To get started, reach the official EXMO website or mobile app.
- On the home page, scroll to the top-right section showcasing Sign Up and Sign In.
- To create an account, choose Sign Up.
- This interface will open on users’ screens now.
- Fill in every important information and review them.
- Now, complete the reCAPTCHA and tap on Sign Up.
- It will send a confirmation mail to activate the account.
- Confirm the activation and the account is created.
EXMO Exchange Review – Full Process to Start Earning with EXMO
Here is the Login procedure for the exchange:
- Repeat the first two steps mentioned in the “Sign Up” section.
- This time, choose Sign In to launch this interface.
- Fill in the valid login credentials (email and password.)
- Complete the reCAPTCHA and click on Sign In.
EXMO also conducts an ID and account verification process. To facilitate secure transactions, users can also undergo an address verification process. The process is not mandatory for depositing or withdrawing funds. However, traders need to complete it to buy cryptocurrencies using fiat currencies.
Here is how users can complete the verification process:
- Open the ID verification page on EXMO’s website.
- Provide personal data like name, date of birth, and current residence.
- Choose a suitable document to complete the procedure. National Card/ID, License, and Passport count as the accepted IDs.
- Fill in the required serial number and validity (if applicable). In case there is no validity, select the “no expiration date” option.
- Click and upload a photo of the document or scan it to reach the next step.
- Now, click a selfie with the provided ID and a paper dictating the current data alongside a bold “EXMO.” Ensure the photo shows everything properly.
- Submit the data and wait for the verification process to conclude.
EXMO Deposit and Withdrawal Service
EXMO Review – Payment System Offered by EXMO
Every EXMO review must contain the various payment methods accepted on the platform. Traders can buy cryptocurrencies using:
- Wire transfer (Faster Payments, Chaps, BACS)
- Credit card (VISA, MasterCard)
- SWIFT (to deposit USD)
- Bank transfers
Traders can deposit funds in their EXMO wallet via:
- Cryptocurrencies (XRP, BTC, ETH, DOGE, etc.)
- Fiat currencies (EUR, UAH, RUB, USD, TRY and, PLN)
- Wire Transfers
- Credit card
Users can quickly withdraw their crypto profit via:
- Fiat currencies (EUR or USD)
Withdrawing funds using fiat currencies can take up to 1 to 3 days. That is why most traders prefer the crypto approach. However, it is good to know that the exchange supports bank transfers as well.
EXMO charges different fees for different purposes. There are trading fees, deposit fees, and withdrawal fees as well. Here is an overview of every type of fee:
The small cryptocurrency exchange charges a flat trading fee of 0.2% for every transaction. Back in 2019, EXMO stated that the rate would go up to 0.6% if the traders indulged in 3 or more EX CODE creations using fiat transactions. The accepted currencies are EUR, TRY, RUB, UAH, USD, and PLN. EX CODE is an in-built currency that facilitates instant fund transfer, be it crypto or fiat trade. EX CODE fee is only charged for fiat transactions while it is free for cryptocurrencies.
Deposit and Withdrawal Fee
When it comes to deposit or withdrawal fees for fiat transactions, here is an overview:
|Payment Method||Deposit Fee||Withdrawal Fee|
|Simplex||4.5% + 0.5 USD||–|
|Payment Method||Deposit Fee||Withdrawal Fee|
|SEPA||20 EUR||50 EUR|
|Simplex||4.5% + 0.5 EUR||–|
|Wire Transfer||6.95 EUR||–|
The fee for cryptocurrencies keeps fluctuating, so it is highly recommended to check out the list on its official site.
Supported Countries and Currencies
EXMO is currently available in 200 countries globally. There are not many nations that do not permit EXMO, but the most notable mentions are:
Countries that do not support EXMO
- North Korea
- The USA
- The Middle East
Popular Trading Pair on EXMO
The cryptocurrency exchange houses more than 50 cryptocurrencies, making it the hub for esteemed trading pairs like:
Is Exmo Safe to Use?
The intent behind most EXMO reviews is to answer questions like “is EXMO safe to use?” Being an online exchange dealing with millions of users, it is not free from breaches. It witnessed a DDoS attack back in 2017 when the entire platform was shut down.
But with KYC and ID verification, the platform is significantly safer. The option to use 2FA (two-factor authentication) and create a list of best IP addresses that are allowed to log into the trading account increases safety.
It even increases the options like cold wallet set up to store offline coins and cash. With such perks on display, it can be stated that EXMO is one of the safest platforms to use.
EXMO Customer Support
EXMO customer support plays a crucial role in its market prestige. The exchange has established a forum for new customers to answer standard questions. Moreover, there is a dedicated customer support email service that works for anyone facing difficulties.
Using “[email protected],” traders can contact the customer support executives in no time.
For better support, an updated online chat section has been established as well. In case of any emergency or immediate support, users can get their issues resolved. Users get a ticket regarding the issue, and executives try to solve the concerns as soon as possible.
That is why the exchange boasts 4.1 stars on TrustPilot, showing its customer service rep. The score is prestigious for any best UK crypto exchange platform on the web.
EXMO Review: Conclusion
With benefits such as 182 cryptocurrencies, support in 200 countries, multiple payment options, and 24/7 availability, EXMO is one of the best crypto exchanges on the web. In order to facilitate low trading costs and convenience, the platform allows bank transactions and crypto trading as well. EXMO boasts a high global industry average, trading volume, exchange mode, and cross-platform trading bots.
It is available in multiple languages, enhancing its functionality. However, it has some cons as well. For instance, the transaction limit and no margin trading hinder its overall performance. However, under most circumstances, EXMO appears as one of the handiest platforms. With its OTC desk and multi-trading options, the platform is deemed ideal for both new and veteran traders.
Is EXMO Reliable?
EXMO is one of the oldest crypto exchanges on the web, with 40,000+ active users. IP-based access and 2FA make the platform reliable to use.
Is EXMO Wallet Safe?
In its 7+ years of market experience, it has faced minimal security breaches. It offers history access, two-factor authentication, and IP-based access to users.
How Do I Withdraw Money From EXMO?
Go to the wallet and select the “withdraw” option in front of the currency. Now choose the desired payment method and get the funds directly in the bank account.
Where can I Buy EXMO Coins?
Popular exchange platforms like Binance, Gate.io, EXMO, and HitBTC offer EXMO(EXM) coins to users.
Is EXMO a Regulated Exchange?
Like most crypto exchanges, EXMO is not a regulated platform. But it still offers secure, transparent, and quick crypto trading proceedings.