Bitfinex Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $10
- Proprietary platform
- Tons of cryptocurrencies and tokens, currency pairs, significant leverage for margin trading and derivatives
- there is a demo account
- customized orders are available
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $10
- Proprietary platform
- Tons of cryptocurrencies and tokens, currency pairs, significant leverage for margin trading and derivatives
- there is a demo account
- customized orders are available
Our Evaluation of Bitfinex
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Bitfinex is a moderate-risk cryptocurrency exchange with the TU Overall Score of 6.02 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Bitfinex clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
Bitfinex is one of the oldest crypto exchanges, founded back in 2012 in Hong Kong. It offers more than 30 cryptocurrencies for trading, including pairs with world currencies. For margin trading, the maximum leverage is 1:10, but for derivatives trading, it's 1:100. The exchange has a handy and functional trading terminal that can create customized orders. There are several options for passive earnings for interested investors.
Brief Look at Bitfinex
The Bitfinex crypto exchange is a platform for trading cryptocurrencies and tokens. You can freely trade Bitcoin, Ethereum, Litecoin, cryptocurrency pairs, and fiat pairs like USD, EUR, GBP, JPY, etc. The company has its proprietary trading terminal with a mobile application for margin trading; it has a leverage of up to 1:10 (up to 1:100 for derivatives). The terminal stands out for its several unique features, including scalable orders that a trader can easily customize to suit their trading strategy. Customized orders and strategies can be tested without restrictions on a demo account that does not require a capital investment. You can use bank cards for deposits and withdrawals and there are no limits on the withdrawal of funds. The platform has a typical affiliate program and several investment programs, including staking and deposit.
- large trading volumes;
- handy mobile application;
- top-tier level of security;
- custom orders;
- tons of currencies pairs;
- leverage up to 1:10 (derivatives are up to 1:100);
- demo account;
- investment programs.
- snail-paced multi-stage verification;
- relatively high fees when working with fiats;
- absence of direct responses from call center, they use only alternative communication methods.
TU Expert Advice
Financial expert and analyst at Traders Union
Bitfinex is one of the oldest and most respected crypto exchanges in the world and is widely recognized as a reliable and executive partner. Despite the lack of direct communication with technical support, the company's specialists provide prompt answers and advice. On the technical side, there are no complaints and the platform is stable.
Bitfinex has its proprietary trading terminal, originally developed for a browser, but later adapted for mobile devices. It is considered easy to use and is very functional. There are all the standard functions and charts with many built-in indicators. A feature of the platform is its ability to create orders according to your criteria and copy them to open a large number of transactions.
Separate advantages of Bitfinex are staking and deposits. In addition to these opportunities for passive earnings, there is a referral program, which, according to the conditions, does not differ from similar programs of competitors. There is also a lending function that allows significant leverage (up to 1:10 for margin trading and up to 1:100 for derivatives).
Some users complain of the complexity of multi-stage verification, but Traders Union experts see this as an advantage. Such stringent verification prevents scammers and dubious content from entering the site. In addition, the company has an exceptional security system based on the principles of machine learning. Learn more about safety Bitfinex here.
Bitfinex Summary
Your capital is at risk. Cryptocurrency trading can be extremely risky. Cryptocurrency trading can lead to large and immediate financial losses. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.
| 💻 Trading platform: | Proprietary platform |
|---|---|
| 📊 Accounts: | Standard, demo |
| 💰 Account currency: | Cryptos, currencies |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts, crypto and electronic wallets |
| 🚀 Minimum deposit: | $10 |
| ⚖️ Leverage: | Up to 1:10 (margin trading), up to 1:100 (derivatives) |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | Zero-entry |
| 💱 Commission: | Market |
| 🔧 Instruments: | Cryptos, currencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Not indicated |
| ⭐ Trading features: | Tons of cryptocurrencies and tokens, currency pairs, significant leverage for margin trading and derivatives; there is a demo account; customized orders are available |
| 🎁 Contests and bonuses: | Yes |
The Bitfinex crypto exchange is characterized by impressive trading volumes and progressive growth in the number of its professional traders. This indicates the popularity and stability of the site, which offers favorable conditions for margin trading. Please note that the exchange does not have scalping, stop loss and take profit functions. However, custom orders are allowed.
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Commissions and fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | From 0.1% per market order | Yes (0.1% of the amount, minimum fee is $60) |
At the minimum trading level, the maker/taker fees are 0.1/0.2%, respectively. At the maximum level, the same commissions are reduced to 0/0.055%. There are fees for derivatives, Bitfinex Borrow, and Unus Sed LEO assets. Here's a comparison with its closest competitors:
| Broker | Average commission | Level |
|---|---|---|
|
$0.1 | |
|
$20 | |
|
$0.07 |
Investment Options
In addition to the referral program, Bitfinex offers two options for passive earnings for users. Each of them has its conditions, you can simultaneously activate both functions:
Deposits (lending). By activating the corresponding function in the personal account, the user transfers part of his funds to ensure the lending services provided by the site. You can deposit Bitcoin, Ethereum, Tether, 0x, and OMG Network, and Tether Gold. After activating the function, the user receives information about the annual interest, which depends on the asset and the amount of the deposit. Lending funds can be withdrawn at any time. Payments come to the user's personal wallet.
Staking. Bitfinex implements the so-called “soft-staking” technology when an investor only needs to choose an asset and indicate how much he is willing to provide. After that, the interest rate will be calculated. The annual income for the indicated option can reach 10%. At the moment, nine assets are available for staking, interest payments are made daily. The longer an investor keeps the staking function active, the higher his status in the system and the faster his interest rate grows.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Bitfinex’s affiliate program
Bitfinex offers a three-tier affiliate program. It works as follows. After registration, you will receive a personal referral link. A user who registered on the site using it will bring you income based on a percentage of fees on all his transactions.
Also, income will be provided to you by users who are invited by your referral through their link. This algorithm allows you to profit from the trade of third-level partners.
1st level - remuneration 18%;
2nd level - remuneration 6%;
3rd level - remuneration 2%.
Referral trading volumes do not matter, and the affiliate program is unlimited. After verifying your account and referral accounts, you can get a profitability increase factor of up to 1.44x. By trading Unus Sed LEO assets, you can get an additional factor of up to 1.5x. With high activity on social networks, where the platform is presented, you can also earn a multiplier of up to 1.5x.
User Satisfaction