Naming itself the biggest cryptocurrency exchange in Europe, EXMO is a UK-based crypto day trading platform that was launched back in 2013. With a long track record and a platform full of utility, we sent our expert to look under every stone to find out exactly why nearly 2 million registered traders use this exchange.
• FinCEN regulation as Money Service Business
• Available in several US states
• Great cashback reward system
• No live chat
• No leverage trading for experienced traders
• Short selling is not an option
In this section of our EXMO review we highlight 6 special features that deserves extra attention.
EXMO is a London-based cryptocurrency exchange with a registered address at 2 Kingdom Street, London, England W2 6JP, United Kingdom. It is one of the largest crypto exchanges in Europe and still growing. This crypto trading platform was founded back in 2014 and is therefore considered a very secure cryptocurrency exchange.
The team behind the exchange is trying to employ a very intuitive and easy-to-use interface to serve a wide audience of traders globally. It supports several languages and a lot of fiat currencies which include all the major and many small ones. It has its own digital asset called EXMO Coin (EXM) which can be traded on the exchange. The current value at this time of writing is $0.0674.
Why use EXMO
I would strongly recommend this exchange to both beginners and advanced traders as there are two interfaces to use, one simple and one advanced. EXMO is well suited for API traders and also large traders thanks to the crypto OTC desk. Traders who are very active will enjoy the one-click trading feature a lot as well as a super modern trading app both for Android and IOS.
EXMO has a high trust level thanks to the Money Service Business registration and this also allows US traders to get on to the platform. What makes it stick out is the favorable cashback program which you can obtain by purchasing it or trading an accumulated volume every month.
Trading on EXMO
Tradingview is the main charting platform on EXMO which guarantees quality tools for charting and of course all the technical crypto indicators you need. Fees are very reasonable starting at 0.30% for both maker and taker fees. Order book, trade history, and one-click trading make it possible for both scalpers and day traders to thrive on the platform.
If you are an investor or swing trader you have the option to use the simple interface to make purchases and hold them longer-term. There is no leverage or margin available on the exchange which is not a bad thing, however, you will need a good amount of capital if you want to use a larger size on this platform.
Payment methods and limits
EXMO supports ADVCash, Yandex.Money, Mastercard, VISA, Qiwi, Bank Transfers, Wire Transfer, PAYEER, SEPA, Faster Payments, Chaps, bacs, and Bank Frick. The minimum fiat deposit is 5$, the maximum withdrawal is $50,000 per week and the minimum withdrawal is 0.01 BTC.
EXMO category rating
Things we don’t like
There are two things that bother me a little bit about the exchange. First of all, there is no live chat which is not a huge minus but still, it is annoying. Secondly, the log-in process is pretty broken. I’ve tried to log in to my account for about 30 minutes but I simply can’t. When you log in to your account you will get an SMS code sent to your smartphone which you are supposed to enter in the field.
However, this code doesn’t get sent to my phone so I can’t enter it and log in. This is very frustrating and it doesn’t really matter what the problem is. The fact that this is happening and holding me back from even logging in to my account is a minus.
EXMO Trading Fees
About the special features on EXMO
The EXMO cryptocurrency exchange has a good number of special features that will interest most crypto traders. Starting off we have a nice OTC desk where you can load up on crypto the big way if you are a large trader with deep pockets. Traders seem very happy with the OTC market and the limits are very high. When it comes to the trading interface we have two different versions, the basic and the advanced. The basic interface is a simple instant crypto exchange tool where you can swap between digital assets in a second. The advanced interface is for all other traders who are looking to actively trade coins on EXMO and in my opinion, it’s pretty good.
Another great thing about EXMO which is not directly trading related is the number of supported currencies and languages on the platform. This is a very good sign for any exchange and it shows strong professionalism of the team behind this project. Other than that they have a great cashback system and a maker fee rebate system that you should check out if you are into market making.
The EXMO crypto cashback system is very favorable for traders who are trading a lot of size. The maximum return is 116% which means that you will earn money just by opening positions. But to reach this threshold you need to trade some serious size. However, there is a lot to benefit from this crypto cashback system even if you are a smaller trader. The volume adds up quickly if you trade a lot and you will be able to get back some of the costs that are paid. Also, you can quickly double your cashback rate by using limit orders. When adding liquidity to the order book, the EXMO crypto cashback program will give you two times the reward.
What is most interesting is that you can purchase the professional level in the cashback program to reduce your fees up to 93% and 66%. The cost of buying these programs starts at $1 for the basic version and the professional version costs $500. I would highly recommend that you do this if you are a very frequent trader or trade a lot of size.
If you are trading amounts of $100,000 or higher then I really suggest that you try ut the EXMO OTC desk. To get in you need to first apply as an individual or company. An OTC trading desk is a great way for large traders to execute big orders without moving the market or suffering from low liquidity due to a thin order book.
EXMO takes its VIP clients very seriously and there are a lot of benefits to signing up as a VIP. Increased limits, corporate account, account manager, and individual tariffs. The most common types of VIP clients are API traders, Banks or Exchange offices, Payment systems, Hedge and venture funds, Mining companies, and Forex / Stockbrokers.
A one-click system is a way for traders to enter the market with only one click. This is a standard market order type which is the fastest way of trading the markets with a mouse and a click. You can both buy and sell with one-click trading and it’s best suited for fast traders who want to benefit from small price movements.
Maker Fee Rebate
The maker fee rebate is only available for the absolute biggest traders on the platform. You need to trade a significant size to be eligible to get a rebate on your trades. However, if you are a large liquidity provider for example and you are running a market maker system you will be able to make money off of limit orders. Take note that the biggest traders on EXMO will benefit from the maker fee rebate and the cashback system at the same time.
Our own experience with EXMO
EXMO Funding Methods
|Max Withdrawal Limits||$50000 weekly|
|Min Withdrawal Limits||$500|
|Min Deposit Limits||$5|
EXMO Withdrawal Fee
Is EXMO safe to use?
EXMO is a well-established European cryptocurrency exchange and is worthy of the Excellent rating on Tradingbrowser. We consider this crypto trading platform to be a safe place to operate your daily trading activities.
Is EXMO regulated?
Yes, EXMO is registered as a Money Service Business and is thereby related by the Financial Crimes Enforcement Network (FinCEN). It also recently got a temporary FCA regulation before a permanent UK regulation is in place.
Frequently asked questions
Read the most frequently asked questions about EXMO. Find answers without searching the web.
This is a reliable crypto exchange and considering the active registration as a Money Service Business, it increases the trustworthiness of the company and the platform.
To withdraw money from the platform simply go to the Wallet section. Here you select fiat or cryptocurrency and click withdraw and follow the instructions given.
The registered address at 2 Kingdom Street, London, England W2 6JP, United Kingdom.
Yes, it does. Thanks to the Money Service Business registration it allows US citizens to trade on the platform. However, only a selected number of states are good to go so far.
Yes, in December 2020 the exchange was hacked for about 5% of its total number of stored cryptocurrencies.
The weekly withdrawal limit is $50,000.
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