In this article, I will discuss the IndoEx Exchange– a cryptocurrency exchange with a large array of assets, low trading fees, and support for fiat deposits. IndoEx.io is a user-friendly platform that has been operating since 2019.
For both novice and veteran users, this exchange offers important trading services, however, one must be aware of the platform’s fees, security measures, and accessibility beforehand.
Introduction
IndoEx, a cryptocurrency exchange based in Estonia and the UK, aims to provide a secure platform for the buying and selling of numerous digital currencies. Since its launch on January 16th 2019, the exchange has added an impressive 400+ different cryptocurrencies and allows trades in both euros and US dollars.
Even retail or institutional traders can avail the IndoEx platform and enjoy advanced wallet security, low trading fees of just 0.15% for both makers and takers, and round the clock customer service. IndoEx has become one of the most prominent players in the industry and boasts a trading volume of over $3.84 billion a day.
Know Quick Details About IndoEx
| Feature | Details |
|---|---|
| Launch Date | January 16, 2019 |
| Headquarters | Estonia, UK |
| Supported Fiat | EUR, USD |
| Cryptocurrencies | 400+ assets |
| Market Pairs | Nearly 300 |
| Trading Fees | 0.15% (Maker & Taker) |
| Security | Secure wallets, encryption |
| Support | 24/7 customer support |
| Trading Volume | $3.84 billion (24-hour volume) |
| Accessibility | Available in 150+ countries |
Some Popular Token Available On This Exchange
| Token Symbol | Token Name | Category | Key Use Case | Blockchain |
|---|---|---|---|---|
| BTC | Bitcoin | Cryptocurrency | Peer-to-peer digital currency | Bitcoin |
| ETH | Ethereum | Cryptocurrency | Smart contracts and decentralized apps | Ethereum |
| ADA | Cardano | Cryptocurrency | Secure and scalable smart contract platform | Cardano |
| USDT | Tether | Stablecoin | Price-stable digital asset pegged to USD | Ethereum |
| BNB | Binance Coin | Cryptocurrency | Utility token for Binance ecosystem | Binance Smart Chain |
| XRP | XRP | Cryptocurrency | Real-time cross-border payments | XRP Ledger |
| LTC | Litecoin | Cryptocurrency | Faster and lighter version of Bitcoin | Litecoin |
| BCH | Bitcoin Cash | Cryptocurrency | Peer-to-peer electronic cash system | Bitcoin Cash |
| MATIC | Polygon | Cryptocurrency | Layer 2 scaling solution for Ethereum | Ethereum |
| TRX | TRON | Cryptocurrency | Decentralized content sharing platform | TRON |
IndoEx Trading Fees
IndoEx charges a fee for every trade executed, however, it does not exceed 0.15% of the trade’s value. IndoEx has a flat fee rate and does not discriminate against market makers or takers.
This essentially means that whether you are submitting a new order or matching an existing one, the fees would not change. These fees are very attractive for investors as they are more favorable than the standard rate that most exchanges offer. Thus, making IndoEx a great option for traders.
IndoEx Withdrawal Fees
IndoEx charges a withdrawal fee of 0.0008 BTC for Bitcoin transactions. This fee is marginally more expensive than the world’s average industry fee of 0.0006 BTC, though the difference isn’t that profound.
This difference, for example, as of August 7th, 2020, was roughly $2.36, which isn’t too impactful for most users. Although the fee is higher than average, it remains normal for traders to the platform.
Deposit Methods
This exchange supports multiple payment methods, this includes wire transfer, debit card payments, and cryptocurrency transfers.
Such convenience allows users to fund their accounts with both fiat and digital currencies effortlessly. Because IndoEx accepts fiat currency payments, it is a starter exchange, which means it is suitable for novice traders who are wanting to get into cryptocurrency trading.
How to Start Trading on IndoEx
Set Up an Account
Go to the IndoEx website and create an account with them. Register using your email and create a strong password for your account.
Identity Verification
Complete KYC (Know Your Customer) by sending in documents like a government ID or proof of where you live.
Add Money to Your Account
After logging in to your account, go to the “Deposit” section and select which type of cryptocurrency or fiat currency you want to add.
Market Exploration
Spend some time learning how the trading calculator works as well as the available pairs for trading.
Execute a Trade
Pick out the trading pair you wish to trade, enter in the amount, and decide between market or limit order.
Tracking Trades
Stay up to date with your open positions and the market’s movements for better decisions.
Take Out Money From IndoEx
Move your money to your bank account or wallet whenever you feel you’ll be needing them.
IndoEx Services and Features
Wide Variety of Cryptocurrencies: Supports 400+ cryptocurrencies and almost 300 market pairs, including Bitcoin, Ethereum, Litecoin, and Ripple.
Leading Trading Features: Offers common spot trading, as well as futures, options, and margin trading.
Staking: Users can earn rewards on certain cryptocurrencies by holding them on the platform.
Secure Wallets: Provides wallets with SSL encryption and cold storage for high-level funds protection.
User-Friendly Interface: Combines simplicity for users with advanced tools for seasoned traders.
Low Fees: Competitive maker and taker fees on average 0.15%.
API for Algorithmic Trading: Cross-platform trading robots are supported.
Mobile App: The mobile version of the platform is available for Android and iOS.
Customer Support: Customer service available by email or social media as well as through a help center 24/7.
Global Accessibility: The platform can be accessed from more than 150 countries.
Here’s a table showing the supported countries and banned countries for IndoEx :
| Supported Countries | Banned Countries |
|---|---|
| Most countries worldwide | North Korea |
| Iran | |
| Syria | |
| Cuba | |
| United States |
IndoEx PROS & CONS
| ✅ Pros | ❌ Cons |
|---|---|
| Supports 400+ cryptocurrencies | Higher-than-average BTC withdrawal fees |
| Fiat deposits available (EUR, USD) | Not regulated in some major regions |
| Competitive trading fees (0.15% for takers & makers) | Limited fiat deposit options (no PayPal or mobile money) |
| User-friendly interface for beginners | No mobile app for iOS/Android |
| High liquidity with a $3.84B daily trading volume | Customer support response can be slow |
| Available in 150+ countries | U.S. users not allowed due to regulations |
| Advanced security measures in place | Fewer advanced trading tools than top-tier exchanges |
Is IndoEx Secure?
IndoEx adopts several procedures in order to keep the funds and data safe. It uses cold storage wallets to minimize the risk of hacks and uses advanced encryption protocols for transactions security. Maintaining two-step verification adds more privacy for user accounts.
IndoEx has not disclosed any major security breaches, however, it does function in relative regulatory ignorance in some areas, and that could be concerning for some traders. All in all, IndoEx offers a secure trading environment, but customers should adjust their settings to enable all security functionalities to be more protected.
Mobile App
Although lots of crypto traders fancy trading on desktops because of the convenience of bigger screens and better visibility of trading charts, some don’t rely on a computer for trading.
Others prefer using a mobile phone or tablet for trading. If you are one of those people, you will be pleased to know that IndoEx provides a mobile-friendly trading platform. The app can be downloaded from the App Store and Google Play, enabling users to trade without restrictions throughout the world.
IndoEx Customer Support
IndoEx has employed customer support staff who are available both day and night to help users with security, account, and trading issues. The support can be reached through email and ticketing systems, but the replies may take a long time. Conversely, as IndoEx lacks live chat and phone support, the FAQ page containing frequent questions presented turns out to be very helpful.
Some traders report having received responses more slowly during busy times. Overall, IndoEx support is good, however, the speed of responses and the modes of support offered could be improved for better satisfaction.
Conclusion
IndoEx offers a variety of features – an extensive collection of digital currencies, low trading costs, and the ability to deposit fiat money, making it a multi-faceted cryptocurrency exchange. Although the platform has a secure environment with advanced security measures, its withdrawal fees are higher than the industry average.
The platform is mobile-friendly and Moderately responsive to customer service requests. However, there is room for improvement in response time. In general, IndoEx is a good fit for novice and experienced traders alike, but users need to keep in mind regional limitations and security practices while trading.
