Is Emirex a Good Crypto Exchange for Beginners?
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 Emirex is a good crypto exchange to start trading with. In this article you will learn whether Emirex is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker Emirex
Emirex is an exchange that allows you to conduct transactions with cryptocurrencies. The exchange has been operating since 2017 and was formerly known as the BitMeEx. Emirex focuses on working with digital assets in the Middle East. Despite this, the exchange also provides the necessary tools for trading in the international cryptocurrency market. In particular, traders from Africa, Asia, and Europe use Emirex as their main crypto exchange.
| 💰 Account currency: | RUB, USD, EUR, and other fiat currencies and cryptocurrencies |
| 🚀 Minimum deposit: | $20 ⠀ |
| ⚖️ Leverage: | No |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, P2P trading, and tokenized shares |
| 💹 Margin Call / Stop Out: | No |
Emirex Pros and Cons
👍 Advantages of trading with Emirex:
•relatively low commission;
•availability of the proprietary native EMRX token, which is accrued for activity on the platform;
•optional verification in case of spot trading;
•proprietary ecosystem based on a native token;
•availability of two versions of the website and platform: local and international;
•possibility to withdraw money directly to a bank card;
•wide range of functions for additional passive earnings;
•high speed of operation: the platform works quickly regardless of the performance of the operating device.
👎 Disadvantages of Emirex:
•differences in the functions between the global and the local versions are caused by the local version having more advanced tools;
•the requirement to verify your personal data before you can use a bank card;
•multi-level account identification;
•dynamic captcha.
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 Emirex Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. Emirex offers traders the following conditions.
| 💻 Trading platform: | Proprietary platform based on TradingView |
| 📊 Accounts: | Standard, professional, and P2P platform |
| 💰 Account currency: | RUB, USD, EUR, and other fiat currencies and cryptocurrencies |
| 💵 Replenishment / Withdrawal: | Bank card, credit cards, P2P cryptocurrency exchange, and third-party services |
| 🚀 Minimum deposit: | $20 ⠀ |
| ⚖️ Leverage: | No |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, P2P trading, and tokenized shares |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | N/a |
| ⭐ Trading features: | Investment programs are available |
| 🎁 Contests and bonuses: | Regularly |
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 Emirex commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
Specialists at the Traders Union checked the commission costs of the exchange and found that the exchange commission depends directly on the types of assets traded. For example, for EMRX/USDT and EMRX/BTC pairs, the commission is 0.3%. The commission for the T69/USDT pair is 0.25%, and for the rest of the pairs, it is 0.1%. The crypto exchange does not charge a commission when crediting fiat funds from a bank card using SEPA or SWIFT payment methods.
Commission for withdrawal of fiat money for EUR: SEPA - 20 EUR; MasterCard - 3.2% of the withdrawal amount + 1 EUR; and VISA - 2.2% of the withdrawal amount + 4 EUR. Commission for withdrawal of fiat money for USD: MasterCard (double conversion) - 3.2% of the withdrawal amount + 1 EUR; and VISA - 2.2% of the withdrawal amount + 4 USD.
There is no commission charged for depositing cryptocurrencies to the balance. With few exceptions, commission costs are removed if you need to withdraw a digital asset.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | From $10 | Yes |
Investment programs of Emirex
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. Emirex offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
The Emirex cryptocurrency exchange offers several IEO/SFT investment programs. You can also reduce commissions by using the referral system and buying a native EMRX token.
Emirex investment programs
IEO means the initial placement of an exchange offer. This is a subtype of ICO, which is conducted directly by the cryptocurrency exchange to engage additional investments in a certain cryptocurrency. At the moment, there are six IEO programs on the Emirex crypto exchange: EMRX, T69, CTRO, SLAVI, DMTR, and AQR.
EmiSwap staking pays interest up to 365% per annum. The DeFi Emicomp program assumes investments with an average yield of up to 48% per annum. The interest rate depends on the investment asset. The profit is fixed automatically and can be withdrawn instantly.
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.
Emirex’s affiliate program
The Emirex affiliate program has five levels. This is a referral system, according to its terms, where the client receives bonuses in the form of BTC or EMRX. Additionally, commission costs for placing orders are reduced.
The referral program involves a multi-level drop in commission costs. To reduce the commission as much as possible, it is necessary to be active on the cryptocurrency exchange, invite users, and actively trade there. The initial commission for trading is 0.2%.
At the first level, the commission is reduced by 15% (0.015% from each trade), at the second by 8% (0.008%), at the third by 5% (0.005%), at the fourth by 3% (0.003%), and at the fifth by 2% (0.002%). A reward in BTC is accrued for each referral, which can then be withdrawn to a bank card or a cryptocurrency wallet.
Conclusion. Is Emirex good for beginners?
The Emirex 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, Emirex could be considered as a good cryptocurrency exchange for a start.
- Is Bitbuy a Good Crypto Exchange for Beginners?
- Is GOPAX a Good Crypto Exchange for Beginners?
- Is BitFlyer a Good Crypto Exchange for Beginners?
- Is Bexplus a Good Crypto Exchange for Beginners?
- Is ZB.com a Good Crypto Exchange for Beginners?
- Is Coinut a Good Crypto Exchange for Beginners?
- Is Kuna a Good Crypto Exchange for Beginners?
- Is StormGain a Good Crypto Exchange for Beginners?
- Is CryptoHopper a Good Crypto Exchange for Beginners?
- Is FTX a Good Crypto Exchange for Beginners?
- Is Zipmex a Good Crypto Exchange for Beginners?
- Is BitMEX a Good Crypto Exchange for Beginners?
- Is Blockchain.com a Good Crypto Exchange for Beginners?
- Is CoinJar a Good Crypto Exchange for Beginners?
- Is BigONE a Good Crypto Exchange for Beginners?
- Is ACE Exchange a Good Crypto Exchange for Beginners?
- Is KuCoin a Good Crypto Exchange for Beginners?
- Is eToroX a Good Crypto Exchange for Beginners?
- Is Coinburp a Good Crypto Exchange for Beginners?
- Is Nexus Trade a Good Crypto Exchange for Beginners?
- Is CoinTiger a Good Crypto Exchange for Beginners?
- Is AltCoinTrader a Good Crypto Exchange for Beginners?
- Is XT.com a Good Crypto Exchange for Beginners?
- Is Ledger Wallet a Good Crypto Exchange for Beginners?
- Is NovaDAX a Good Crypto Exchange for Beginners?
- Is Bitrue a Good Crypto Exchange for Beginners?
- Is Bitazza a Good Crypto Exchange for Beginners?
- Is BingX a Good Crypto Exchange for Beginners?
- Is CoinDCX a Good Crypto Exchange for Beginners?
- Is Quidax a Good Crypto Exchange for Beginners?
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.
Related Articles
Team that worked on the article
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.
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.