Mercatox Review 2020
Mercatox is a cryptocurrency exchange that gives traders access to the digital currency and cryptocurrency markets. It is a convenient platform for trading and exchanging of various digital currencies and can be used by both experienced traders and beginners. There is a vast array of cryptocurrencies, such as Bitcoin, Bitcoin Gold, Ethereum, XRP, EOS, Litecoin, Dogecoin, DASH, Ethereum Classic, and many others, available for trading online via its proprietary web-based trading platform.
Mercatox Review 2020, Pros & Cons
- An intuitive trading platform
- A wide selection of cryptocurrencies
- A multi-currency wallet
- Not regulated
- Cryptocurrency trading only
- No MetaTrader platforms
- Limited funding options
- No online chat support
In this detailed Mercatox 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.
Mercatox 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 Mercatox.
Mercatox Review: Summary
Launched in 2016, Mercatox has grown into an established cryptocurrency exchange with over 647,626 total users and more than 941,709 total Bitcoin trading volume. They offer multiple cryptocurrencies for trading online. Apart from providing trading services for a wide range of cryptocurrencies, Mercatox also offers a lending platform, a multi-currency wallet, and payment services.
Mercatox Review: Regulation
The Exchange is not regulated by any known financial authority at the moment. Most experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our best trading brokers for alternative regulated brokers.
Mercatox Review: Countries
The services of Mercatox are offered only to jurisdictions where the use of such services would not be contrary to local laws or regulations. They cannot accept clients from the USA.
Some Mercatox features and products mentioned within this Mercatox review may not be available to traders from certain countries because of 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.
Mercatox Review: Trading Platforms
Mercatox provides traders with its own proprietary web-based trading platform. The platform provides charting tools powered by TradingView and allows you to set the order type, price, and amount, as well as the direction you want to trade. With the platform, you can also trade on margin, which means that you can borrow, as well as lend to other traders.
Mercatox Review: Trading Tools
There are no established standalone trading tools on the Exchange’s website at the moment.
Mercatox Review: Education
The Mercatox website contains a News section that keeps traders informed on the factors that move the financial markets. There is an FAQ section that offers quick answers to the most common concerns that clients may have.
Mercatox Review: Trading Instruments
Mercatox offers a vast array of cryptocurrencies, such as Bitcoin, Bitcoin Gold, Ethereum, XRP, EOS, Litecoin, Dogecoin, DASH, Ethereum Classic, and many others, for online trading via the provided trading platform.
Mercatox Review: Trading Accounts & Fees
Mercatox offers clients one live trading account for trading the various available cryptocurrencies.
As broker fees can vary and change, there may be additional fees that are not listed in this Mercatox review. It is imperative to ensure that you check and understand all of the latest information before you open a Mercatox broker account for online trading.
Mercatox Review: Customer Service
The exchange’s website is available in 3 different languages: English, Russian, and Chinese, and their customer support team can be reached via email, social media, or via a support ticket.
Mercatox Review: Deposit & Withdrawal
The Exchange only accepts cryptocurrency for account deposits and withdrawals. It has no support for fiat currencies. Mercatox provides its clients with a multi-currency wallet with a wide range of digital currencies.
Mercatox Review: Account Opening
Mercatox welcomes new traders to open a trading account with them by clicking on the ‘Sign Up’ icon and proceeding to properly fill the form that pops up.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
Mercatox Review: Conclusion
Mercatox is an online cryptocurrency exchange that aims to create a cryptocurrency marketplace that can meet the diverse needs of crypto traders. They provide traders with a proprietary web-based trading platform, as well as wallet and lending services. However, there is no regulatory information on their website at the moment. They only offer crypto trading and do not have the MetaTrader platforms that so many traders are already accustomed to using. You may wish to view our best crypto brokers for regulated alternatives.
You should be aware that the risk of loss in trading or holding Digital Currencies can be substantial. As with any asset, the value of Digital Currencies can go up or down and there can be a substantial risk that you lose money buying, selling, holding, or investing in digital currencies.