EQONEX 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
- $1
- TradingView
- LTC, DASH and XMR are not available, algorithmic trading through Capitalise.ai is allowed
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
- TradingView
- LTC, DASH and XMR are not available, algorithmic trading through Capitalise.ai is allowed
Our Evaluation of EQONEX
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
EQONEX is a high-risk cryptocurrency exchange with the TU Overall Score of 1.81 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by EQONEX 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. EQONEX ranks 167 among 172 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.
EQONEX is a NASDAQ-listed exchange, based in Singapore, with an average trading volume of USD 14 million. The exchange offers instruments for traders with any level of expertise and capital.
Brief Look at EQONEX
EQONEX exchange was established in 2020. The exchange is listed on NASDAQ and operates under the Monetary Authority of Singapore (MAS). EQONEX is ISO/IEC 27001 certified, which confirms the high security level of data inside the exchange. The exchange has its own utility token EQO built on the Ethereum blockchain and compatible with ERC-20. In 2021, EQONEX considerably expanded the services for institutional clients and introduced managed accounts, lending and portfolio margin. At the moment, the proprietary EQONEX platform offers access to trading cryptocurrency pairs, including with stablecoins Tether (USDT) and USD Coin (USDC), as well as cryptocurrency futures.
- No minimum deposit for all fiat and the majority of cryptocurrencies;
- Low exchange fees on all types of assets;
- Regulated by the state regulatory authority of Singapore;
- Unified trading platform with a standard set of features and user-friendly interface;
- Free educational articles and videos with latest analytics featured on the website;
- Staking option and daily free airdrops of the exchange’s utility token;
- Access to automated trading using bots configured for certain algorithms.
- Limited choice of cryptocurrencies;
- Leverage is provided only for futures transactions;
- Tough conditions for using the welcome bonus.
TU Expert Advice
Financial expert and analyst at Traders Union
EQONEX Group is a group of companies, where each company has its own specialization. For example, Bletchley Park offers asset management solutions, and Access Trading is a multifunctional platform for professional trading. As for EQONEX exchange, it provides services to both institutional clients and retail traders.
The exchange targets market players with different levels of expertise and equity, which is confirmed by the fact that the platform offers not only cryptocurrency trading, but also futures. At the same time, the choice of assets for spot trading cannot be considered wide, with only 12 pairs available.
These don’t include pairs with LTC, XMR and DASH. These coins cannot be exchanged or bought at EQONEX. As for the leverage, it is not available for spot trading. However, you can trade futures with leverage up to 1:125.
Using the exchange’s utility token EQO allows you to reduce trading fees and withdraw cryptocurrencies for free. You can also earn passive income by staking the token. EQONEX offers a welcome bonus ($150) to new clients, who verified their account and made a deposit within 30 days after registering at the exchange. However, the conditions for receiving the bonus are rather tough: USD 50 is awarded for deposits from USD 1,000, the 30-day spot trading volume should be from USD 25,000 and futures trading – from USD 250,000.
EQONEX Summary
| 💻 Trading platform: | Two types of platforms based on TradingView — mobile apps and Web (does not require installation) |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Fiat money and crypto |
| 💵 Replenishment / Withdrawal: | Visa/Mastercard, bank transfer, cryptocurrencies |
| 🚀 Minimum deposit: | USD 1 |
| ⚖️ Leverage: | Up to 1:125 (only for futures) |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Commission: | Spot: 0.01-0.09%, futures: 0-0.07% |
| 🔧 Instruments: | Cryptocurrencies, stablecoins USDC and USDT, futures contracts |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market, Limit, Stop-Loss |
| ⭐ Trading features: | LTC, DASH and XMR are not available, algorithmic trading through Capitalise.ai is allowed |
| 🎁 Contests and bonuses: | Welcome bonus, Airdrops |
The minimum deposit for Polkadot is 1.05 DOT. For all other cryptocurrencies and all fiat money, the minimum investment amount can be any. You can buy with a card no less than USDC 100.
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Commissions & Fees
For each withdrawal of fiat via a bank transfer, a $40 fee is charged. Depositing cryptocurrencies and fiat from a bank account is free. The fee on buying coins with a card is 3.2% of the transfer amount. The fee for an 8-hour negative USDC balance is 0.024%.
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | 1 $ (for a USD 1,000 spot trade) | yes |
The table below shows comparison of EQONEX trading fees and fees of other cryptocurrency exchanges.
| Broker | Average commission | Level |
|---|---|---|
|
$1 | |
|
$20 | |
|
$0.1 |
Investment Options
You can earn passive income on EQONEX by staking the exchange’s utility token and with the referral program. Also automated trading is available, with algorithms configured to certain market fluctuations. Institutional clients can transfer their equity to be managed by one of the companies in EQONEX Group.
Passive income on EQO
The first earning option combines a passive and active strategy. Takers that trade on EQONEX can earn free EQO coins. Their number depends on daily trading volume. However, you won’t be able to earn a lot on that: for example the exchange awards 0.01 EQO for the trading volume of USD 10,000. Staking promises higher earnings. It allows you to earn interest on holding the EQONEX exchange’s utility token in your wallet. There is a yield calculator on the exchange’s website to calculate your expected yield once the staking period expires.
If you enter 100 EQO (≈109.92 USD), the calculator provides the following yield:
1 day — 3 EQO;
7 days — 15 EQO;
1 month — 45 EQO;
1 year — 85 EQO;
5 years — 1546 EQO.
Automated trading is another passive income option offered by EQONEX. It is carried out with the help of bots, which are supplied by the Capitalise.ai, a partner of the exchange. The service is provided for free. To work with bots, you do not need to master programming languages and carefully analyze the market.
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.
EQONEX Partnership program
Under the referral program, a partner gets 30% of the trading fees of the connected traders.
Referrals receive a 5% discount on all trading fees for a period of 6 month after the account activation.
User Satisfaction