Online Trading Starts Here
EN /brokers/crypto/view/bexplus/is-bexplus-good-for-beginners/
AR Arabic AZ Azerbaijan CS Czech DA Danish DE Deutsche EN English ES Spanish FI Finnish FR French HE Hebrew HI Hindi IND Indonesian IT Italian KK Kazakh MS Melayu NB Norwegian NL Dutch PL Polish PT Portuguese RO Romanian ... Русский SV Swedish TH Thai TR Turkish UA Ukrainian UZ Uzbek VI Vietnamese ZH Chinese
Menu
  1. Traders Union
  2. /
  3. Best Crypto Exchanges
  4. /
  5. Bexplus Review
  6. /
  7. Is Bexplus a Good Crypto Exchange for Beginners?

Is Bexplus a Good Crypto Exchange for Beginners?

Updated: December 16, 2023
Mikhail Vnuchkov
Contributor
Opinions expressed by Traders Union Contributors are their own.
Reviewed by
Olga Shendetskaya
Editor
Full Bexplus
overview
Share this:

Good Forex Broker for Beginners

Table of Contents

  • Summary
  • Pros and cons
  • What is a Good Crypto Exchange
  • Trading Conditions
  • Commissions and Fees
  • Investment programs
  • Conclusion
  • FAQs

It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether Bexplus is a good crypto exchange to start trading with. In this article you will learn whether Bexplus is good for beginners, what its pros and cons are and what a novice trader needs to know.

Short summary about the broker Bexplus

The Bexplus exchange appeared at the end of 2017. The official registration office is in Saint Vincent and the Grenadines, but offices are also open in the USA, Japan, Singapore, and Brazil. In March 2021, Bexplus was licensed by the Financial Crime Enforcement Agency FinCEN, which reports to the United States Department of the Treasury. At the exchange, you can trade derivatives, and futures for Bitcoin (₿), Ethereum (Ξ), Tether (₮), Dogecoin (Ð), Ripple, and Cardano. Margin trading is available with leverage up to 1:100. Bexplus works with digital currencies only, deposits and withdrawals in fiat are not supported.

💰 Account currency: BTC
🚀 Minimum deposit: ₿0.001 
⚖️ Leverage: Up to 1:100
💱 Spread: 0.075-0,135% (each way)
🔧 Instruments: BTC/USDT, ETH/USDT, DOGE/USDT, XRP/USDT, ADA/USDT 
💹 Margin Call / Stop Out: No

Bexplus Pros and Cons

👍 Advantages of trading with Bexplus:

•the available minimum deposit is ₿0.001 (≈ USD 40);

•licensed by FinCEN, an American agency, and liquidity from the largest international cryptocurrency exchanges;

•convenient and functional trading platform based on TradingView;

•high leverage, up to 1:100;

•providing a trading simulator that can be used to practice and test the proposed conditions;

•no need to pass verification using the KYC procedure;

•availability of investment solutions;

•affiliate and bonus programs;

•regular contests among clients.

👎 Disadvantages of Bexplus:

•fiat currency is not supported, only crypto;

•cards, bank transfers, or electronic wallets cannot be used for deposits and withdrawals;

•the exchange converts all credited cryptocurrencies into Bitcoins, so traders have to pay additional fees for the exchange.

What is a Good Crypto Exchange for Beginners?

In order to choose the right broker for a beginner, you need to consider several aspects.

Here are the main ones:

  • Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.

  • Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.

  • Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.

  • Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.

  • Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.

  • Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.

In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.

Trading Conditions for Bexplus Users

Before you start working with an exchange, it is important that you evaluate its trading conditions. Bexplus offers traders the following conditions.

💻 Trading platform: Web terminal based on TradingView and mobile applications (Android, iOs)
📊 Accounts: Simulated account (demo), trading account, e-wallet account, spot account
💰 Account currency: BTC
💵 Replenishment / Withdrawal: BTC, USDT, ETH, LTC, XRP, EOS
🚀 Minimum deposit: ₿0.001 
⚖️ Leverage: Up to 1:100
💼 PAMM-accounts: No
📈️ Min Order: BTC 0.1, ETH 1, ADA 1,000, DOGE 10,000, XRP 1,000 
💱 Spread: 0.075-0,135% (each way)
🔧 Instruments: BTC/USDT, ETH/USDT, DOGE/USDT, XRP/USDT, ADA/USDT 
💹 Margin Call / Stop Out: No
🏛 Liquidity provider: No
📱 Mobile trading: Yes
➕ Affiliate program: Yes
📋 Orders execution: Market orders, limit/pending orders, take-profit, stop-loss
⭐ Trading features: Fiat currencies are not available
🎁 Contests and bonuses: 100% deposit bonus, weekly contests with cash rewards

Commissions and Fees

The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of Bexplus commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.

Information

During the analysis of the Bexplus conditions, the Traders Union specialists found that the Bexplus exchange charges a commission for opening and a commission for closing a position. The one-way brokerage fee is 0.075% for BTC/USDT, 0.095% for ETH/USDT, 0.121% for ADA/USDT, and 0.135% for DOGE/USDT and XRP/USDT. All trading fees are calculated in BTC, regardless of the pair, so there is a conversion fee. A leveraged trader pays an overnight fee if his position remains open at 0:00 (GMT). There is no deposit fee. The withdrawal fee depends on the selected token. According to the most popular of them, it is ₿0.0005, Ξ0.01, Ł0.1, XRP 10.

Account type Spread (minimum value) Withdrawal commission
Trading account From 0.15% per trade Yes

Investment programs of Bexplus

It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. Bexplus offers the following passive income options.

Investment Programs, Available Markets, and Products of the Crypto Exchange

At Bexplus, you can earn on trading and also receive passive income. The exchange charges a percentage for storing Bitcoins and offers a referral program with double rewards for attracting new users. It is also possible to copy trades of experienced Bexplus members, but for now, this option is available in beta mode.

Interest rates for storing BTC in the Bexplus e-wallet

All active users can receive money for storing Bitcoins in the Bexplus internal wallet. Interest is calculated daily but is accrued once a month and only to those clients who have traded at the exchange over the past 30 days (a certain transaction ratio is provided). The minimum wallet balance to receive an interest payment is ₿0.05. The accrued money can be transferred to the trading account for free or withdrawn by paying a fee of ₿0.0005.

With the wallet balance growth, the percentage of income increases:

  • ₿0.05 ‒ 3%;

  • ₿0.02 ‒ 5%;

  • ₿0.5 ‒ 8%;

  • ₿1 ‒ 10%;

  • ₿2 ‒ 12%;

  • ₿6 ‒ 16%;

  • ₿8 ‒ 18%;

  • ₿10 ‒ 21%.

Also, the exchange plans to launch a full-scale trade copying service soon. It is currently in beta. The main features of copy trade at Bexplus will be: an investor can only subscribe to one trader, and the volume of a copy trade is limited to ₿0.1-100. Also, the subscriber can stop copying at any time, without waiting for the trader to close the trade. The signal provider's commission for a successful transaction is 10%.

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 thedeal and all the steps from signing up to withdrawal of profits.

Bexplus’ affiliate program

  • For each referral who registered using the referral link and started trading, the affiliate receives 2 rewards. The first is charged for the registration of a new user, the second is for the new invitee’s trading. The Bexplus exchange gives the referrer up to 50% of the trading commission of the trader he has connected.

After successfully inviting 20 people, the affiliate receives a cashback for each subsequent referral in the amount of 100% of the trading commission deducted by the exchange within 24 hours from the moment of registration.

Conclusion. Is Bexplus good for beginners?

The Bexplus cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, Bexplus could be considered as a good cryptocurrency exchange for a start.

See related articles in our selection:

FAQ

What do I need to know about the fees charged by cryptocurrency exchanges?

The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.

How do I choose a reliable cryptocurrency exchange?

Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.

How many cryptocurrencies could a crypto exchange offer?

The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.

What are the risks of investing in cryptocurrencies?

Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.

Team that worked on the article

Mikhail Vnuchkov
Mikhail Vnuchkov
Author at Traders Union

Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.

Read more
Olga Shendetskaya
Olga Shendetskaya
Author and editor at Traders Union

Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.

Read more