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
- $1
- Mobile application
- Web-Plattform
- One cannot trade Monero (XMR), and staking is unavailable
Our Evaluation of BankCEX
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
BankCEX is a high-risk cryptocurrency exchange with the TU Overall Score of 2.72 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by BankCEX clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker.
BankCEX is an exchange that is constantly expanding the range of its financial instruments and allows users to start trading with any amount of money. But at the same time, the absence of fiat currencies in the list can be a problem for some traders and especially for those who are used to depositing funds to their e-wallets directly from their bank cards.
Brief Look at BankCEX
The BankCEX exchange has been in business since 2017. It presently doesn’t support fiat currencies and only offers cryptocurrencies for trading. New coins are listed regularly, so over 200 cryptocurrency pairs are available to its clients. BankCEX’s daily trading volume exceeds $75 million. On May 5, 2021, the exchange presented its native token, the BankCoin (BANK). The total BANK reserve is 210 million coins. BankCEX’s trading platforms are proprietary. They support two interface types: basic with standard functions and advanced with professional technical analysis tools.
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- The trading fees are moderate and comparable to those charged by its competitors;
- There are no requirements regarding the minimum deposit;
- Clients can choose a trading platform that meets their requests;
- New coins and tokens are listed regularly;
- The referral program offers a high percentage reward;
- Traders can apply limit orders, including stop loss;
- BankCoin holders have additional advantages.
- Fiat currencies are not supported;
- The trading platforms sometimes hang;
- Leveraged trading is not available.
TU Expert Advice
Author, Financial Expert at Traders Union
BankCEX provides cryptocurrency trading services through its proprietary platforms, offering over 200 cryptocurrency pairs and utilizing its proprietary BankCoin token. The platform is attractive for traders due to its lack of minimum deposit requirement, moderate trading fees, and regular listing of new coins. Users benefit from the flexibility to choose between basic and advanced platform interfaces equipped with professional technical analysis tools.
However, BankCEX does have some notable drawbacks. It does not support fiat currencies, limiting deposits and withdrawals to cryptocurrencies only. This can be inconvenient for those preferring traditional monetary transactions. Additionally, its platforms sometimes experience technical issues, and there is no provision for leveraged trading. Consequently, BankCEX may be more suitable for experienced cryptocurrency traders than beginners or those prioritizing fiat integration.
BankCEX Summary
| 💻 Trading platform: | Basic and advanced web platforms, as well as mobile apps for Android and iOs. |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | BTC, ETH, LTC, BANK, and other cryptocurrencies |
| 💵 Deposit / Withdrawal: | Most cryptocurrencies |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.0001 BTC/BANK/USDT and 0.001 ETH |
| 💱 Commission: | Spot: 0,1%-0,1% |
| 🔧 Instruments: | 68 supported coins, Perpetual contracts. |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Limit, stop-limit, and market |
| ⭐ Trading features: | One cannot trade Monero (XMR), and staking is unavailable |
| 🎁 Contests and bonuses: | No |
BankCEX doesn’t take fiat currencies or offer trading pairs with them. The amount of the initial deposit is determined by the trader himself based on the minimum order for the selected cryptocurrency and the fee for transactions with it.
BankCEX Key Parameters Evaluation
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Regulation and safety
With a 5.25/10 score, BankCEX demonstrates a moderate level of security and regulation. While the platform meets basic safety standards, it may not offer the same level of protection as higher-rated exchanges.
- No successful hacks history
- 2FA
- Cold wallet storage
- Not government-regulated
- Not U.S regulated
- Not tier-1 regulated
- No investor protection fund
BankCEX Security Factors
We also compared BankCEX against the top two competitors with the highest scores in our overall ranking based on the most critical security indicators.
| BankCEX | OKX | Kraken | |
| Tier-1 regulation | No | No | Yes |
| Government-regulated | No | Yes | Yes |
| Investor protection fund | No | Yes | No |
| 2FA | Yes | Yes | Yes |
| Facial recognition | No | Yes | No |
| Cold wallet storage | Yes | Yes | Yes |
| Successful hacker attacks | No | No | No |
Is BankCEX a regulated crypto exchange?
BankCEX is not currently regulated by any government authority, which is still a common occurrence in the cryptocurrency industry. While this doesn't automatically mean BankCEX is unreliable, government-regulated exchanges are generally considered more reliable due to the added oversight and client protection they offer.
Is verification (KYC) mandatory at BankCEX?
Yes, KYC verification is mandatory at BankCEX. You will need to complete the verification process before you can open an account and access the platform's full range of services.
In which countries is BankCEX available?
BankCEX complies with international sanctions and regional restrictions. Services are limited or unavailable in the following countries: Canada, Bahrain, Palestine, Jordan, Iraq, Qatar, Kuwait, Lebanon, Libyan Arab Jamahiriya, Oman, Syrian Arab Republic, Tunisia, Yemen, Botswana, Tanzania, United Republic Of, Zimbabwe, Namibia, Ethiopia, Jamaica, Zambia, Hong Kong, Afghanistan, Trinidad and Tobago, Brunei, Nepal, Serbia, Somalia, Cameroon, Rwanda, Slovenia, Eswatini, Croatia, Mongolia, Burma, Montenegro, Cambodia, Taiwan, Mozambique, Madagascar, Dominican Republic, Albania, Mauritius, Puerto Rico, Cote d'Ivoire, Laos, Macedonia, Papua New Guinea, Costa Rica, Luxembourg, Malta, Ecuador, Bahamas, Haiti. For the most up-to-date information on regional availability, please contact BankCEX support.
Is BankCEX available in the USA?
Yes, BankCEX is available in the USA. However, availability may vary by state due to local regulations. We recommend checking the official website or contacting support for up-to-date information specific to your location.
BankCEX commissions and fees
BankCEX has earned a rating of 8.45/10 for its trading fees. This makes it a highly attractive choice for active traders seeking to reduce costs, as BankCEX is a platform with minimal crypto trading costs.
- Spot fee below industry average
- No deposit fee
- Withdrawal fee may be applied
- P2P fee applied
What are BankCEX trading fees?
We analyzed BankCEX’s crypto fees and compared them to the top two competitors, both of which hold high average positions in our rankings. To establish a comprehensive benchmark, we also calculated the average fee score based on an evaluation of over 100 cryptocurrency exchanges.
BankCEX trading fees vs competitors
| BankCEX | WazirX | Gemini | Industry average | |
| Spot, maker fee (%) | 0,1 | 0,2 | 0,1 | 0.15 |
| Spot, taker fee (%) | 0,1 | 0,2 | 0,35 | 0.194 |
| Futures, maker fee(%) | 0 | 0 | 0.024 | |
| Futures, taker fee(%) | 0 | 0 | 0.053 |
What are BankCEX deposit and withdrawal fees?
| Deposit fee, % | 0 |
| Withdrawal fee, % | 0,0004 BTC 0,0035 ETH 8 USDT (ERC20) 0,8 USDT (TRC20) |
Does BankCEX offer P2P trading?
Yes, BankCEX offers a P2P trading platform. We have provided the fees for these transactions and compared them with competitors.BankCEX P2P Fees
Deposit and withdrawal
BankCEX received a 3.5/10 rating for its deposit and withdrawal services. BankCEX offers limited funding options and may charge fees, which could be inconvenient for many users.
- Many cryptocurrencies for deposits and withdrawals
- No deposit fees
- P2P for flexible transfers
- No support for bank card payments
- No Google Pay option
- No PayPal option
Deposit and withdrawal options
BankCEX supports the following deposit and withdrawal options: Crypto.
BankCEX Deposit and withdrawal options vs competitors
| BankCEX | OKX | Kraken | |
| Bank transfers | No | No | Yes |
| Bank card | No | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| PayPal | No | No | Yes |
What is BankCEX minimum deposit?
The minimum deposit at BankCEX is 10 USD/USDT or 0,001 BTC. The minimum trade size is 1 USD/USDT, which also serves as the minimum amount required to start trading on the platform.
BankCEX minimum deposit vs competitors
| BankCEX | OKX | Kraken | |
| Minimum deposit, USD or USDT | 10 | 10 | 10 |
| Minimum deposit, BTC | 0,001 | 0,0005 | 0,0001 |
| Minimum trade amount, USD/USDT | 1 | 0,00001 | 1 |
Does BankCEX support fiat money?
BankCEX does not support fiat currencies; only cryptocurrencies are accepted.
Supported coins & markets
BankCEX received a score of 4/10 in this category, indicating a modest offering of assets and markets. While BankCEX covers essential trading functions, the number of supported coins, fiat currencies, and investment tools may be insufficient for users seeking more comprehensive options.
- Crypto futures available
- Staking available
- NTFs not available
- Crypto options not available
BankCEX supported coins and markets vs competitors
We compared BankCEX with leading exchanges in terms of supported coins, NFT access, and derivatives like futures and options to help users assess the platform’s product range and trading flexibility.
| BankCEX | OKX | Kraken | |
| Supported coins | 68 | 329 | 278 |
| Futures/Perpetual contracts | Yes | Yes | Yes |
| Options | No | Yes | No |
| NFTs | No | Yes | Yes |
BankCEX passive income options vs competitors
We also compared BankCEX with top competitors in terms of passive income opportunities such as staking, farming, and copy trading, to help users evaluate the platform’s earning potential beyond regular trading.
Contacts
| Foundation date | 2018 |
|---|---|
| Registration address | Singapore |
| Official site | https://bankcex.com/ |
| Contacts |
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