20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
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BankCEX Review 2024
Minimum
deposit:
deposit:
- $1
Trading platform:
- Mobile application
- Web-Plattform
Minimum
deposit:
deposit:
- $1
Trading platform:
- Mobile application
- Web-Plattform
Trading features:
- One cannot trade Monero (XMR), and staking is unavailable
Summary of BankCEX Crypto Exchange
BankCEX is a high-risk cryptocurrency exchange with the TU Overall Score of 2.78 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 ranks 154 among 173 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.
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.
NOTE!
If you are planning to trade cryptocurrencies, and not just keep your savings in crypto wallets, we recommend that you choose one of the top brokers with reliable regulation and access to trading crypto CFDs. This type of trading will help you avoid holding your cryptocurrency in e-wallets of exchanges, which quite regularly get hacked. Also, availability of leverage will allow you to trade crypto CFDs for amounts much higher than your deposit.
Traders Union experts recommend considering Top 3 companies from our rating:
Editorial Note: We are unable to verify the validity of reviews and publish all reviews, both positive and negative,
in accordance with the
Users Reviews Policy.
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.
| 💰 Account currency: | BTC, ETH, LTC, BANK, and other cryptocurrencies |
|---|---|
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | 0.1% |
| 🔧 Instruments: | Over 200 cryptocurrency pairs |
| 💹 Margin Call / Stop Out: | No |
👍 Advantages of trading with BankCEX:
- 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.
👎 Disadvantages of BankCEX:
- Fiat currencies are not supported;
- The trading platforms sometimes hang;
- Leveraged trading is not available.
Evaluation of the most influential parameters of BankCEX
Geographic Distribution of BankCEX Traders
Popularity in
58.3%
IN
39.7%
Others
User Satisfaction i
2 comments
Total score:
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Douglasken
1 year ago
VincentJep
1 year ago
Expert Review of BankCEX
On BankCEX, you cannot make transactions in fiat currencies such as USD, EUR, etc. You can deposit, sell, or withdraw using only cryptocurrencies. BankCEX offers a broad choice of trading pairs most of which include BTC, ETH, and USDT. Besides that, clients can make transactions with the exchange’s utility coin BANK, which can also be used to reduce trading fees. The list of supported cryptocurrencies is constantly expanding. In 2022, the exchange added over 50 new coins the latest of which include BEAR, INMES, UVR, and MADEIRA.
BankCEX provides traders with a mobile app and a web platform. The latter is available in two versions – basic and advanced – which have the same number of trading pairs, timeframes, and order types. The advanced version differs from the basic in technical analysis. It provides 16 indicators, whereas the basic interface supports only candlestick charts. Both types of trading platforms allow users to set up two-factor authentication.
The BankCEX website and platform are available in English and Swedish. Tech support is provided only by email. In BankCEX’s Telegram channel, you can freely communicate with other clients. For passive income, the platform offers a referral program. Interest on staking cryptocurrencies is not accrued here.
Dynamics of BankCEX’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets, and Products of the Crypto Exchange
BankCEX doesn’t offer common investment programs such as staking. The only way to earn passive income is through the referral program.
Additional income for BANK token holders
This exchange doesn’t allow average traders to earn money passively. Additional income is only available to the holders of large amounts of the exchange’s utility token, BANK. But this income isn’t completely passive because to earn it, one has to not only hold coins but also trade assets. Fifty clients with the largest amounts of BANK receive the status of “premium investors”. The following payments are available to them:
A percentage of the exchange’s revenues. BankCEX distributes 30% of its profits among large investors. The funds are accrued daily in the same currency in which the exchange gains profits.
A percentage of the income earned on the exchange. Every week, traders receive 10% of the profits in their e-wallets.
In theory, the above payments are available to all clients who have 5,000 BANK units or more in their accounts. But the ranking of premium investors posted on the BankCEX website suggests that a percentage of the exchange’s revenues mostly goes to traders who have over 350,000 BANK units in their balances. The top 5 holders list is updated regularly, so the amount of tokens necessary for the accrual of passive income can change.
Important!
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.
BankCEX’s affiliate program:
Initially, the referral reward rate is 10% of the transactions made by the invited clients. To increase this rate to 50%, the referrer must have 5,000 BankCoin or more in their wallet.
The funds are paid in real-time, as soon as the invitees buy or sell cryptocurrency. The referral bonuses are paid in the same digital coins in which the trading fees are collected.
Trading Conditions for BankCEX Users
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.
$1
Minimum
deposit
1:1
Leverage
24/7
Support
| 💻 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 |
| 💵 Replenishment / Withdrawal: | Most cryptocurrencies |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.0001 BTC/BANK/USDT and 0.001 ETH |
| 💱 Spread: | 0.1% |
| 🔧 Instruments: | Over 200 cryptocurrency pairs |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Limit, stop-limit, and market |
| ⭐ Trading features: | One cannot trade Monero (XMR), and staking is unavailable |
| 🎁 Contests and bonuses: | No |
Broker comparison table of trading instruments
| BankCEX | Bybit | MEXC | Binance | XT.com | Cryptohopper | |
| Forex | No | No | No | Yes | No | No |
| Metalls | No | No | No | No | No | No |
| Crypto | Yes | Yes | Yes | Yes | Yes | Yes |
| CFD | No | No | No | No | No | No |
| Indexes | No | No | No | No | No | No |
| Stock | No | No | No | No | No | No |
| ETF | No | No | No | No | No | No |
| Options | No | No | No | No | No | No |
BankCEX Commissions & Fees
Information
A trading fee on the BankCEX exchange is a percentage of an order cost. For takers and makers, its default value is 0.1%. A client can cut the fee in half if he holds at least 5,000 BANK coins in his wallet. The exchange charges fees for depositing only those cryptocurrencies for the burning of which fees are also charged. For instance, the fee for depositing WHX is 0.01%; for SHIBS, it’s 2%; and for ROK, it’s 10%. But at the same time, BTC, ETH, LTC, and BANK are deposited for free. Withdrawal fees are adjusted regularly depending on the conditions of the blockchain. At the time this review was written, the withdrawal fees for some of the popular currencies were as follows: 0.0005 BTC, 0.008 ETH, and 0.009 LTC.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | $1 for a $1,000 order | Yes |
Comparison of the fee rates on different exchanges is an important part of the analytical work carried out by the specialists at the Traders Union. They determine the average values of the trading fees and then use them to rank cryptocurrency platforms based on the “fee level” criterion.
| Broker | Average commission | Level |
| BankCEX | $1 | Low |
| Binance | $6 | Medium |
| Bybit | $20 | High |
Contacts
| Foundation date | 2018 |
| Registration address | Singapore |
| Official site | https://bankcex.com/ |
| Contacts |
Email:
support@bankcex.com,
|
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FAQs
Do reviews by traders influence the BankCEX rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about BankCEX you need to go to the broker's profile.
How to leave a review about BankCEX on the Traders Union website?
To leave a review about BankCEX, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about BankCEX on a non-Traders Union client?
Anyone can leave feedback about BankCEX on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.
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