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Mercatox Exchange Review 2021

One of the most prevalent online trading scams is to initially display profitable trades that give the investor a false sense of confidence, and get them hooked to the idea of ‘easy money’. Once this confidence is established, the investor will be marketed the idea https://forexaggregator.com/ of investing more money to earn greater returns. Additionally, other incentives may also be provided to encourage the investor to get their friends and family onboard the platform too. Mercatox has various transfer limits for both deposits and withdrawals.

Mercatox is a new platform that began operation as a crypto exchange, and it has a few flaws like slow customer support, limits on withdrawals, etc. Nonetheless, the platform should look into these issues and work on these loopholes to gain more trust from customers. Mercatox is a lesser-known brokerage, probably because it offers trading exclusively in cryptocurrency. If you’re interested in digital currency as an investment opportunity, then it might be worth having a read through of our Mercatox review, to decide whether the platform is right for you.

If you want to see how other platforms operate, check out our review of Degiro or our eToro review to see how the two compare. Mercatox specialises in the exchange of cryptocurrencies – something How to Start Investing in Stocks which is rapidly growing in popularity. Launched in 2016, the platform has built a reputation for low fees and an impressive list of tokens, including numerous lesser-known altcoins.

Mercatox Trading View

All the navigation options related to trading can be found at the top of the page under the tabs Trade, Lending and E-Wallet. This is all fairly self-explanatory and there are no drop-down menus or additional choices to make. Apart from this, Mercatox also has an extensive knowledge base, helping users to understand and get familiarized with all the features of the website. Concerning the security of the platform, Mercatox has deployed many steps to improve the security framework of the platform. Opening an account with Mercatox is very easy and can be completed in just a few steps. To create an account, you just need a valid email id to register yourself on the platform.

It holds trader’s funds in a separate account to increase the safety. The price and value of any investment in digital asset products can fluctuate. During trading, traders are required to enter the chat room to correspond with money representatives in their native language. Trading FX/CFDs on margin carries a high level of risk, and may not be suitable for all investors.

Added to this, the contact number, email-id on the site never responded. It is simply because in fact typically absolutely wonderful – not so negative as some fuders are simply just simply attempting to insurance claim. Poking fun at noobies that shed cash working choosing their stupid trading & presently shout that MERCATOX is simply because in fact just a scam. Hence, this Mercatox review will reveal everything you need to know about Mercatox.

However, unlike others, they do not specify which safety measures they use but advice their customers on how to keep their accounts safe. Moreover, the website hasn’t or doesn’t mention any legal Margin trading information about this. Users are, therefore, advised to comply with the KYC requirements, but the exchange doesn’t even mention its legal address and other data that can be used in court.

Safemarkets Forex Broker Review

Surprisingly, they are active on most popular social media platforms and they can be reached via Facebook, Instagram, and Telegram. This platform also follows all the safety features and has a valid SSL certificate. Information that is shared with this website is completely encrypted and cannot be accessed by outsiders. This firm also offers interesting affiliate programs and due to that reason alone, many small websites also promote them and monetize their traffic. Many reputable sites like FXempire, Coinintelligence and Insidebitcoins have done posts on them.

The only time when you are required to fulfill the Photo ID verification process is when you want to withdraw more than 0.5 BTC in 24 hours. After successful signup and email account verification, go to the account section set up by 2FA through Google Authenticator for enhanced security. A platform that is designed to meet the need of every type of trader, whether beginner or professional. Therefore, let us have a closer look and check how it is like to trade on the platform.

Deposit And Withdrawal Options

Worst scam exchange, high rates, high minimum for withdrawals, full of scam coins, an interface from 1995. Though Mercatox is established in the UK, but it is not regulated from FCA. The platform is not complying with trading standards and regulatory policies.

Fees are always a major consideration when choosing a new platform. Afterall, trading is about making profit and no one wants to see it eaten away with unnecessary charges. Whenever you trade, you will always pay a fee of some type – even if the platform advertises as commission free, this will be compensated for with a wider spread. In the following review of Mercatox, we’ll check out exactly what you can expect from this operator.

  • I have made well over 100 support tickets to get them to take my coins out of maintenance so I can remove the coins from this exchange.
  • While we are independent, we may receive compensation from our partners for featured placement of their products or services.
  • The user can easily turn off the protection from profit settings.
  • Actually, Mercatox platform is seeking to cover multiple areas of investing to expand their customer’s base.

If you want to use this platform, then do so by only investing the bare minimum money and test them out. If everything works out fine and they suit your strategy, then scale things up, but do remember that there are better alternatives out there. Withdrawal fees are also present and for latest rates, it is always better to check with their platform as they are subject to change. However, as this exchange is unregulated we would suggest coinberry review you not to lend heavily or commit a lot of capital to them as it is still a risky thing to do. If you are used to FTX or other well known exchanges, then it might be a little disappointing for you to continue with this platform due to lack of derivatives. Response time and working hours are also not stated, but as they are located in the UK, we feel it is safe to assume that the schedules are going to be based upon the local timezone.

How Does Mercatox Work?

A chargeback is the retroactive cancellation and refund of a charge made using your credit card, wire transfer or some other payment methods. There are a lot of brokers out there operating under fake company names or that have other fraudulent operations. A little bit of preliminary research can go a long way in protecting you and your finances.

Having me send a pic of my DL, then the date, then with me holding it. Now they claim they have no record of my email address which was verified last year. II am firmly starting to believe this is a scam exchange. Has not taken a definitive approach towards crypto-exchanges. An e-Wallet with a wide range of payment instruments is also available with Mercatox for personal and commercial use. We show reviews chronologically, and you can filter by star rating, language, location, or keyword.

As far as the ratings of the platforms are concerned, it is very new in the exchange world and it aims at building it’s very on reputation in the coming time. The ratings of the platform are so far being good which means that the platform is doing good for the people. However, it is on time to decide what all it brings along with us in the future. From my personal experience, everyone tries at least once to rely on their chosen online store and has once ordered things to verify its quality. 70% of them are disappointed with the services and have opted out. The outfits posted on display were very catchy and at 20% discount.

Generally, all views usually have buy and sell boxes as well. The Mercatox trading view is pretty much the same as the typical trading view, it is pretty simple and straightforward, very easy to navigate. In a nutshell when choosing your exchange make sure to see the trading view as well so that you make sure that it is right for you. At the moment of writing this review, there are more than 80 digital coins available for trading on the Mercatox platform, including the company`s own token, Merca.

Instead, what users get is a simple web-based interface that offers access to numerous cryptocurrency pairs. It has no support for fiat currencies and as such you will be unable to fund your Mercatox account through traditional funding methods such as bank transfer or credit cards. Instead, you fund your Mercatox’s account using cryptocurrencies. Mercatox provides its clients with a multicurrency wallet with the following type of digital currencies below. This cryptocurrency exchange does not accept any other deposit method than cryptocurrencies, so new crypto investors can’t trade here.

Overview Of Mercatox Cryptocurrency Exchange

Few people love this platform for practicality reasons and a lot of people are not comfortable with the way they were treated. Plus, their website badly needs an upgrade and it would have been nice if they could offer or embrace the algorithmic way of trading. binance review Lack of telephone support and absence of live chat feature is something many people frown upon. So, we suggest you to do in-depth research whenever you feel like it is necessary and to be on the safer side, never trust any information blindly.

Please note that it is not possible to deposit FIAT currencies on the site. However, it should be noted that the platform only offers the order type “Limit”, and not “Stop” or “Market” which had to be added a long time ago. About a hundred recent crypto-currencies are available and one or two cryptocurrencies are added every day. This type of exchange is perfect for more experienced people who are willing to take more risks on cryptos with a higher pump potential.

This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. This is perfectly in line with the industry average that is arguably also on 0.25%. As three of its advantages, the exchange states that it has low fees, a loyalty program and an affiliate program.

In the current time, there are more than 100 cryptocurrencies that one can use to make their withdrawals as well as to make their deposits. These limits depend on the currency to be withdrawn or deposited. According to Mercatox, verified users can withdraw an amount worth 5 BTC per day, while unverified users can withdraw only up to 0.5 BTC worth amounts. Mercatox allows unverified accounts to trade, deposit, and withdraw funds. For example, if you take a look at our review of Vantage FX, as well as finding out the answer to questions such as “is Vantage FX safe to use? ”, you’ll also see details on how some brokers provide numerous trading platforms, including bespoke apps.

That is why I have been working as an editor for TradersBest.com since 2019. However, until you maintain the daily withdrawal threshold of 0.5BTC and below, you are not required to verify your account, giving you the advantage of an anonymous trading setup. Its lower rates combined with the loyalty program and affiliate program allows users to earn more for every dollar spent. Also, customer support needs to be more responsive and they need to feature telephone support to establish reassurance among the users. All of the funding and payments has to be through cryptocurrencies and e-wallets. Mercatox does not state any minimum deposit value, but it may vary depending upon the payment method used by the clients.

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