Bitfinex Review 2021: Security, Fees & Special Features

The webs most detailed Bitfinex review: This is a powerhouse for digital asset traders and it’s been this way since 2012 which makes it a veteran crypto exchange. We sent our expert to find out why this exchange has become so popular for traders, investors, and crypto enthusiasts. Read the full review to get a deep look into this cryptocurrency exchange.

3.88/5
Trustworthy
Non-Regulated
Virgin Islands, British flag
Bitfinex
Founded June 2012
Owner iFinex Inc
Type Cryptocurrency Exchange
Fees 0.20%
account minimum 25$
Best for Day Traders

Why Bitfinex

In this section of our Bitfinex review we highlight 6 special features that deserves extra attention.

Create automated orders without any coding. Use expert software and let the computer trade for you.
Automated Trading
Create automated orders without any coding. Use expert software and let the computer trade for you.
Trade your setups on the platform without risking your own money. Simulated environment for testing only.
Paper Trading
Trade your setups on the platform without risking your own money. Simulated environment for testing only.
Make large trades directly with a counterparty without going through the public order book.
OTC Market
Make large trades directly with a counterparty without going through the public order book.
Lend your cryptocurrencies to others and earn passive income by doing nothing. You are now the bank!
Lending
Lend your cryptocurrencies to others and earn passive income by doing nothing. You are now the bank!
Use complex tools like multi charts, advanced order types, AI, machine learning, or alerts.
Advanced Trading Tools
Use complex tools like multi charts, advanced order types, AI, machine learning, or alerts.
Sign up as a professional trader and unlock advanced trading features, better execution, higher limits, and leverage.
Professional Trading Account
Sign up as a professional trader and unlock advanced trading features, better execution, higher limits, and leverage.

About Bitfinex

Bitfinex is one of the oldest cryptocurrency trading platforms and was created back in 2012 and this impressive track record is operated by the company iFinex Inc. Bitfinex was one of the first to offer a professional trade interface in the world of digital asset and rolled out a go-to platform for institutions and corporates whos goal was to trade.

When it comes to peer-to-peer trading Bitfinex is a leader in the world of OTC markets. Their OTC market is built to handle deep liquidity requests and orders will not get routed through the public order book to avoid price fluctuations. It is a well-built platform that has stood the test of time. With nearly 10 years of successful operations, it keeps evolving and new features are added all the time.

Why use Bitfinex

Bitfinex is for experienced scalpers, day traders, or swing traders. The platform is designed to handle a lot of orders, very fast, and high volumes. This makes it the perfect platform for active traders who are looking to either trade manually or is interested in creating an automated setup for their strategies.

Bitfinex is also home to some of the best lending, staking, and borrowing for cryptocurrencies, and with the intuitive Lending Pro platform, you can execute automated lending strategies as well, pretty cool!

Overall, Bitfinex is for advanced users who are looking for cutting-edge technology and high standards for digital asset trading. Explore the platform and find out new features you didn’t know existed before.

Trading on Bitfinex

Bitfinex is an advanced platform for cryptocurrency traders where advanced charting meets advanced technology. You can run automated strategies and backtest them before going with the algorithmic and using real money. Paper trade is also an option on Bitfinex, which lets you trade on the platform without risking your own money, this works exactly like a demo account.

Charting, technical tools, and complex order types are what sets Bitfinex apart from the rest. You can use trailing stop losses to maximize your profits and add scaled orders if you really want to up your game. By far, Bitfinex is one of the most advanced crypto exchange platforms I’ve come across so far.

Payment methods and limits

Bitfinex offers standard card payments as well as bank transfers. It’s not a big variety of payment providers and I think they lose out on a lot of potential here. There are different levels to the withdrawal limits. With a basic verification, you will be able to withdraw $15.000 per day from Bitfinex, if you choose to increase your verification on the platform you can reach unlimited withdrawal. The minimum deposit is $25.

Things we don’t like

I find the support side of Bitfinex very underdeveloped. I can’t find an email address, there is no phone support or live chat. This is very frustrating as a trader when you really need to find someone to talk to quickly. Things go wrong all the time and then you need to be able to talk to a representative.

Support is also a security factor. If your account gets hacked and you can’t reach support to freeze the account, you might lose all your assets in a matter of minutes. This is not a pretty view for such an established platform as Bitfinex.

Trading Fees

Products
Maker fee
Taker fee
Cryptocurrency
0.10 %
0.20 %
Derivatives
-0.0225 %
0.0750 %
ICO
0 %
0 %

Products

Cryptocurrency
Cryptocurrency
Derivatives
Derivatives
ICO
ICO

Trading Platforms

Tradingview
Tradingview
Webtrader
Webtrader
Own trading platform Windows + Mac
Own trading platform Windows + Mac

Order Types

LO - Limit Order
MO - Market Order
SL - Stop Limit
TSL - Trailing Stop Loss
FOK - Fill or Kill
IOC - Immidiate or Cancel
SO - Scaled Order
OCO - One Cancel Other
PO - Post Only
HO - Hidden Order
TIF - Time in Force
RO - Reduce Only

Devices

Desktop
Desktop
Smartphone
Smartphone
Web
Web
Tablet
Tablet

Special Features

Backtesting
Staking
Buy Cryptocurrency
Altcoins
Institutional Trading
Speed Trading
Fast Execution Speed
Fast Account Verification
High Limits
Margin Trading
Leverage Trading
Market Analysis
Trade Alerts
Customisable Interface
Trading App
Video Guides
Professional Trading Platform
Quick Registration
Technical Indicators
SMS Alerts
Demo Account
One Click Trading
Several Account Types
Instant Deposits
2FA Verification
Performance Analytics
Rebate
Market Making
Education
Market News
Advanced Charting
Advanced Trading Platform
Cryptocurrency Wallet
Cold Storage Wallet
Short Selling
KYC
Veteran Trading Platform

About the special features on Bitfinex

Bitfinex is a cryptocurrency platform with a lot of special features to choose from. It’s home to very advanced trade and investing tools, charts, and automated trading as well as a great hub for lending, staking, and borrowing cryptocurrencies. It’s a platform for serious traders and you need some experience to navigate this platform as it is packed with features such as market statistics, Biftinex terminal, automated lending products, reporting tool, and the Bitfinex leaderboard for winning traders.

Automated trading

Use the Honey Framework to execute custom algorithmic orders on Bitfinex. Use automated strategies without any need for coding, for Windows, Linux, and Mac. Here you can build your own strategies and let the algorithm trade for you while you work on the next strategy. Select between custom widgets including order books, trad tables, and charts.

Automated lending strategies

Lending Pro is the advanced lending tool for traders who are operating with special strategies to capitalize on this new product in the cryptocurrency space. It’s a whole interface only dedicated to lending where you can create automated lending strategies, track performance, follow loans, and much much more.

Bitfinex reporting tool

If you are interested in your own performance analysis you have come to the right place. The Bitfinex reporting tool is all you have ever wished for when it comes to analyzing your past results. See your average win/loss ratio, display investment returns in a portfolio across any time frame, and take account snapshots. This tool is connected to Github for tech-savvy traders.

OTC market

On Bitfinex you can access a deep liquidity pool where you will deal directly with a counterparty without going through the public order book. If you are a large trader and you want to execute large orders without moving the market, then the Bitfinex OTC market will suit you very well. Here you can up your size without pushing the limits of the markets and invest or trade as big as you want.

Professional Trading Account

If you are a seasoned professional and are looking for that little extra, then you have the option to sign up as a professional trader or corporate and use the advanced tools that come with it. Unlock the fastest speed through institutional-grade connectivity and create sub-accounts for a better fee structure, and excel the verification process with a professional trade account.

Funding

Cryptocurrency
Cryptocurrency
Bank transfer
Bank transfer
Visa
Visa
Mastercard
Mastercard

Accepted Currencies

EUR (€)
JPY (¥)
GBP (£)
USD ($)
CNY (¥)

Limits

Max Withdrawal Limits
$0 weekly
Min Withdrawal Limits
$5
Min Deposit Limits
$25

Languages

United Kingdom
English
Russian Federation
Russian
China
Mandarin (Chinese)

Restricted Countries

Cuba
Korea, Democratic People"s Republic of
Venezuela, Bolivarian Republic of
Iran, Islamic Republic of
Syrian Arab Republic

Security

Is Bitfinex safe?

Due to the fact that Bitfinex is not regulated by any government, we can’t say that this exchange is operating with the highest security standards. You are able to add several different security layers to protect your account such as 2FA verification, email encryption, withdrawal address whitelist, and also tailor your withdrawal settings. We do not recommend that you keep a lot of coins on the exchange that is not for trading purposes.

Is Bitfinex regulated?

No, Bitfinex is not regulated.

Support

Contact Form
Contact Form

Frequently asked questions

Read the most frequently asked questions about Bitfinex. Find answers without searching the web.

No, Bitfinex is not a regulated cryptocurrency exchange platform.

Hover over the Wallet section in the top right corner of the interface and click Withdraw. Here you can choose which fiat currency or digital asset you would like to withdraw. Select currency and follow the procedure.

The standard taker fee is 0.20% and the maker fee is 0.10% for cryptocurrencies. The derivatives taker fee is 0.075% and the maker fee is -0.225%.

All US citizen is prohibited from using the site or the services offered.

On the front page, click start trading, then hover over the Wallet section in the top right corner of the interface and click Deposit. Now choose your preferred fiat currency or digital asset and choose your payment method. Follow instructions.