Bitfinex Review 2020
Bitfinex is an online cryptocurrency exchange that allows clients to buy and sell multiple cryptocurrencies, such as Bitcoin, Ethereum, EOS, Litecoin, Ripple, NEO, and many other digital assets, with minimal slippage through its mobile trading platform.
Bitfinex Review 2020, Pros & Cons
- Advanced mobile trading platform
- Educational resources
- Competitive fees
- Unregulated exchange
- Cryptocurrency trading only
- No desktop trading platform
In this detailed Bitfinex review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Bitfinex is not ranked in our best forex brokers, best stockbrokers, best CFD brokers, best crypto brokers, or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Bitfinex.
Bitfinex Review: Summary
Established in 2012, Bitfinex is a cryptocurrency exchange that has remained at the forefront of technological innovation in digital asset trading. It gives users the ultimate cryptocurrency trading experience through its state-of-the-art trading tools, innovative technology, and high levels of customer service.
Bitfinex Review: Regulation
Bitfinex helps to ensure high security of clients’ funds by storing them in offline, multi-signature cold wallets. Nevertheless, they are not regulated by any known financial authority. You should be aware of the risks involved when using an unregulated exchange.
Bitfinex Review: Countries
The Bitfinex Exchange allows traders from different parts of the world, where cryptocurrency trading is permitted, to open an account with them.
Some Bitfinex features and products mentioned within this Bitfinex review may not be available to traders from specific countries due to legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
Bitfinex Review: Trading Platforms
The exchange provides clients with the Bitfinex mobile trading app; it adapts the full functionality of the Bitfinex trading features for seamless trading of an array of digital currencies while on the go. The mobile platform is designed for Android and iOS devices and can be downloaded from the respective app stores free of charge.
Bitfinex Review: Trading Tools
There is a range of useful trading tools available to clients, to help them enhance their trading experience. They include the Trade API, which enables full integration with the trading platforms; reporting tools; and many more.
Bitfinex Review: Education
The exchange gives traders access to a vast array of educational resources, such as blogs, articles, newsletters, and an FAQ section. These help to keep the traders informed about how the market works and the latest happenings in the financial markets space.
Bitfinex Review: Trading Instruments
Bitfinex allows clients to buy and sell multiple cryptocurrencies, such as Bitcoin, Ethereum, EOS, Litecoin, Ripple, NEO, and many other digital assets through its mobile trading platform.
Bitfinex Review: Trading Accounts & Fees
Bitfinex has a bespoke offering of multiple trading account options that are tailored to meet the specific trading needs of professional and institutional traders. The account types include:
- Corporate Account
- Professional Account
Corporate and professional traders are able to create sub-accounts. Some of the many benefits include grouping together of trade volume for free tiers and separate deposit and withdrawal permissions.
As broker fees can vary and change, there may be additional fees that are not listed in this Bitfinex review. It is imperative to ensure that you check and understand all of the latest information before you open a Bitfinex broker account for online trading.
Bitfinex Review: Customer Service
Bitfinex provides traders with a knowledgeable customer service team. They are polite and prompt in response and can be reached via telephone, email, and Live Chat.
Bitfinex Review: Deposit & Withdrawal
The Exchange allows a wide range of different account funding and withdrawal methods. They include:
- Bank wire transfer
- Credit/Debit Cards such as Visa, MasterCard, UnionPay
The processing time of transactions may vary, depending on the payment method.
Bitfinex Review: Account Opening
To open an account with the Exchange, click on the signup button on the website and fill the form properly. You will need to confirm your email address and also choose a preferred secure password and then, submit. When your account is approved, you can proceed to fund your account and begin trading online.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
Bitfinex Review: Conclusion
Established in 2012, Bitfinex is an online cryptocurrency exchange. It offers users a competitive cryptocurrency trading experience through its state-of-the-art trading tools, innovative technology, and high levels of customer service. However, they are not yet regulated.
Trading in digital tokens and engaging in related leverage transactions entails significant financial loss. You should not commit funds to trade or leverage digital tokens that you cannot afford to lose entirely. Market prices for digital tokens can be volatile and highly unpredictable.