Your capital is at risk.
Icrypex 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
- is any amount
- Mobile application
- TradingView
- Many popular cryptocurrencies and coins are available
- TRY is the only fiat currency
- Fees are below market average
- The exchange provides trading on OTC markets, converter, and the balanced trading portfolio service
- Staking and farming are available
- Investment and education are provided.
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
- is any amount
- Mobile application
- TradingView
- Many popular cryptocurrencies and coins are available
- TRY is the only fiat currency
- Fees are below market average
- The exchange provides trading on OTC markets, converter, and the balanced trading portfolio service
- Staking and farming are available
- Investment and education are provided.
Our Evaluation of ICRYPEX
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
ICRYPEX is a high-risk cryptocurrency exchange with the TU Overall Score of 2.59 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by ICRYPEX 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. ICRYPEX ranks 173 among 173 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.
Icrypex is a crypto exchange with many functions. Both professional and novice traders use its services. They can use a free cold wallet and trade comfortably with deep risk diversification. Takers’ and makers’ fees are reasonable, 0.35% and 0.25% at the start respectively, and they are reduced when trading volumes increase.
Brief Look at ICRYPEX
Icrypex is a Turkish crypto exchange that offers over 220 cryptocurrency pairs, including mixed pairs with TRY. Traders can work on spot and over-the-counter (OTC) markets. The built-in converter allows traders to exchange fiat currencies into any of the available digital assets, including the exchange's proprietary ICPX token, within several seconds. Icrypex provides a browser platform and a mobile app for devices running on Android and iOS. Minimum takers’ fees are 0.02%, and the makers’ is 0.01%. Deposits and withdrawals are made in all available cryptocurrencies and Turkish lira without exchange fees. Cryptocurrency transfers always imply blockchain fees. Passive income options include staking, farming, and a three-level partnership program.
- All popular cryptocurrencies paired with USDT and TRY are available. New assets are constantly added to the exchange;
- Trading fees are below market average and there are no withdrawal fees;
- The trading platform is as simple and intuitive as possible. Icrypex also offers an innovative mobile app;
- Unlimited referral program with payouts up to 20% is available for every user;
- Profits from staking are up to 22.5% per annum and are up to 14% on ICPX; farming brings up to 7.10% subject to the token pool;
- Advanced fund and data protection, including cold wallets, two-factor authentication, etc., are provided;
- 24/7 technical support is available via all main communication channels;
- The exchange offers a blog comprising articles, daily newsletters, guides on crypto assets, etc.
- Cryptocurrencies can be bought only using Turkish lira;
- Many additional services are currently developing and are not comprehensively implemented.
TU Expert Advice
Financial expert and analyst at Traders Union
Icrypex is a reputable centralized crypto exchange, established in 2018 in Istanbul. First, it focuses on clients from Turkey but is available to traders from other regions as well. It is licensed by VASP (the Vienna Ab initio Simulation Package) in Poland and Bulgaria. Its activities in the digital asset industry are legal.
The conditions are standard, and trading is conducted through a browser platform based on TradingView or through a mobile app for Android and iOS. Among available assets are the most popular cryptocurrencies paired with USDT and TRY. Individual and institutional users can work on OTC markets. If you need to promptly exchange cryptocurrencies, use the converter.
Deposits and withdrawals are made with any available cryptocurrency and TRY. Funds are held in cold wallets. Advanced security measures are used to provide reliable protection of all transactions. Technical support is available 24/7.
Initially, trading fees are 0.25% for takers and 0.35% for makers, but it is possible to reduce them with large trading volumes. If the volume is from one million TRY or its equivalent, the fee is 0.10% and 0.15%, respectively. The minimum values are 0.01% and 0.02%, but it is almost impossible to achieve them. Deposits and withdrawals of fiat currencies don’t imply the exchange’s fees, however, the other party in the transaction can be Turkish banks only. Blockchain fees are fixed and are subject to the asset.
Available additional income options are staking, farming, and a referral program that is quite profitable. The blog on the exchange’s website is constantly updated with new articles and there are daily newsletters.
Icrypex is on the world level and offers fine-tuned and up-to-date service.
ICRYPEX Summary
Your capital is at risk. Your capital is at risk. Cryptocurrency trading can be extremely risky. Cryptocurrency trading can lead to large and immediate financial losses. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.
| 💻 Trading platform: | Browser platform based on TradingView and mobile app for iOS and Android |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies and TRY |
| 💵 Replenishment / Withdrawal: | Bank transfers and crypto wallets |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | No |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | No |
| 💱 Commission: | From 0.01% |
| 🔧 Instruments: | Cryptocurrencies including USDT and TRY |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | No |
| ⭐ Trading features: |
Many popular cryptocurrencies and coins are available; TRY is the only fiat currency; Fees are below market average; The exchange provides trading on OTC markets, converter, and the balanced trading portfolio service; Staking and farming are available; Investment and education are provided. |
| 🎁 Contests and bonuses: | Yes |
To start trading with Icrypex, register on its website. You can pass verification later, but it’s better to do it at once, as otherwise there are certain trading restrictions and you can’t withdraw cryptos. There are no minimum or maximum deposits, so traders can fund their accounts with any appropriate amounts. Leverage is not available, so traders must use their own funds. Technical support operates 24/7 and can be contacted via telephone, email, live chat, or tickets on the website. All communication channels are provided in the Contact us section.
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Commissions & Fees
The crypto exchange charges trading fees that depend on the trading volume and differ for takers and makers.
Trading volumes for the last 30 days are considered. It is possible to additionally reduce fees by using rebates from Traders Union and holding ICPX in the wallet.
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | 0.19% | No |
Icrypex doesn’t charge deposit or withdrawal fees. However, consider the following important details: to withdraw TRY, only bank accounts with Turkish banks are used; the exchange’s main partners don’t charge transaction fees, but banks of other countries often have them; and blockchain fees that are subject to the asset are charged for deposits and withdrawals of cryptocurrencies.
| Broker | Average commission | Level |
|---|---|---|
|
$0.19 | |
|
$20 | |
|
$0.1 |
Investment Options
Passive investment opportunities are advantages but not the priority for any crypto exchange. Staking is more common than farming. Icrypex offers both options. Also, it is possible to make additional active income from a referral program.
Staking
Traders create staking wallets and transfer no less than the minimum amount there. Then, they set a staking period of 30, 60, 90, or 120 days. Thereafter, they receive profits. It is impossible to cancel funds placement until the end of a staking period. The annual interest rate depends on the asset. As of writing this review, the rate for ICPX is 14% and up to 22.5% for other cryptocurrencies. However, the rate is up to 1.2% for ETH and up to 0.26% for BTC.
Farming
Traders block their ICPX for 30 - 120 days in one of the liquidity pools and receive 1.61% - 7.10%. However, if traders unblock their funds before the end of the period, profits are not paid to them.
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.
Partnership program
Traders themselves create their referral links in the corresponding section of their user accounts. They share these links on different sites on the internet or via email. Users who follow the link to the exchange’s website, register, and start trading, bring 20% of their fees to partners. The program has three levels, so partners receive profits even when their referrals attract new clients. Rewards are 10%, and 15% on the second and third levels. Thus, socially active traders can make good additional income due to the referral program.
User Satisfaction