Nominex 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
- Referral bonuses and tournaments (standard and demo mode)
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
- Referral bonuses and tournaments (standard and demo mode)
Our Evaluation of Nominex
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
Nominex is a high-risk cryptocurrency exchange with the TU Overall Score of 2.87 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Nominex 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. Nominex ranks 145 among 172 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.
The Nominex cryptocurrency exchange offers many crypto-to-crypto pairs, low commissions, a simple trading terminal interface, and a high level of protection for user funds. The referral program and working token farming provide passive income that gets higher with active trading. The existence of a demo mode in tournaments and training makes the platform convenient for novice traders. Professionals receive extended orders and reliability guarantees.
Brief Look at Nominex
Nominex is the official broker of the Binance cryptocurrency exchange. This gives the platform advantages in the form of reliable crypto storage and industry best practices. The broker uses Google servers, which guarantees high optimization and prompt execution of transactions. Over 1,000 instruments are presented at Nominex. In addition to trading crypto-crypto pairs, traders can earn on farming NMX tokens, which gives additional profit through staking and allows you to reduce trading fees to zero. The broker has a 5-level affiliate program that provides 9 types of rewards for active trading. The platform holds regular tournaments with real prizes, including events in demo mode for beginners. It has its own training program that simply and clearly explains the basics of cryptocurrency trading.
- The broker has more than 1,000 assets, including Bitcoin, as well as Ethereum, Litecoin, Tether, Ripple, and other popular altcoins.
- Transparent commissions up to 0.10%, which decrease with trading volume and when staking NMX tokens.
- There are extended order types including stop limit, trailing stop, and scalable orders.
- High level of cyber security provided by Binance crypto exchange technologies.
- For the basic level of trading, you do not need to go through KYC verification and identity verification.
- Almost all deposit options are available, including Visa/MC plastic cards and bank accounts.
- Profitable DeFI farming of working NMX tokens, high yield staking, and lower fees are available.
- The crypto-exchange has a lot of assets, but trading is carried out only in cryptocurrency, and there are no fiat pairs.
- Technical support can only be contacted by email, and the exchange does not have its own call center.
- The training program does not provide useful information to those who are already experienced with crypto trading.
TU Expert Advice
Financial expert and analyst at Traders Union
The Nominex crypto exchange, being the official broker of Binance, received a powerful development at the start and reached the top in the segment within 3 years. This determined its main advantages: a large pool of assets, stable technical part, and favorable trading conditions. Now more than 1,000 assets are traded at the platform, and loyal listings are constantly expanding the pool. For example, at the moment, Metaverse cryptocurrencies like MANA, APE, HIGHT, FLOKI are very popular.
Commissions are mid-market, starting at 0.10% for taker and maker, but halved if the trader is actively trading NMX and holding the exchange's working token for staking. Although technically we are talking about farming. The difference is that when farming, the coins placed by investors in the pool are not used to mine new coins, but to secure transactions in the pool. But from the side of the investor, both mechanisms look the same — he provides his funds at interest.
The crypto exchange uses the TradingView browser terminal, but with unique modifications. For example, there are extended orders. Stop orders do not surprise anyone today, but scalable orders are an interesting solution. They are designed to automatically create multiple limit orders in a price range defined by the user. This is not the only tool that allows Nominex exchange investors to effectively mitigate trading risks.
Another feature of the broker is an extensive referral program. It has 5 base levels and an unlimited number of sublevels. The trader receives direct profit from two invited users, then indirect from four referrals who were invited by the traders he attracted. Technically, there can be as many levels as you like, and the number of referrals is growing exponentially. There are 9 types of bonuses, including team ones. In general, the platform has something to offer progressive traders and investors, so I recommend it for consideration.
Nominex Summary
| 💻 Trading platform: | TradingView in-browser terminal |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | over 1,000 cryptocurrencies |
| 💵 Replenishment / Withdrawal: | Bank card, bank account, cryptocurrency e-wallet, electronic payment system |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Commission: | Market |
| 🔧 Instruments: | Cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | Yes |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Farming/staking and referral program with infinite levels |
| ⭐ Trading features: | Referral bonuses and tournaments (standard and demo mode) |
| 🎁 Contests and bonuses: | No |
Given the opportunity to reduce fees through the working NMX token, the Nominex exchange has one of the most favorable trading conditions. Nevertheless, in general, trading on the platform does not have critical advantages over competitors and is rated as the market average. The table below shows the main parameters of this crypto exchange.
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Commissions & Fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | From $4.5 | Yes |
To understand how profitable the Nominex exchange commissions are, the easiest way is to compare the crypto exchange offer with the price list of its leading competitors. The table below provides data for several competing platforms.
| Broker | Average commission | Level |
|---|---|---|
|
$4.5 | |
|
$6 | |
|
$20 |
Investment Options
Investment programs are the strength of the Nominex exchange. The referral program is also a channel of passive income, but we will consider it separately. The broker offers a simple and clear farming model for the working NMX token. In addition to the profit from farming, the trader receives reduced commissions, cashback, and many other bonuses that are highly dependent on his activities within the referral program. That is, farming is more profitable for active traders.
Farming is the essence of the investment mechanism
In the DeFi niche of decentralized finance, there is a practice of forming liquidity pools that ensure transactions are carried out in the system. To ensure the required number of assets in the pool, system users provide it with their own funds in a working token. In return, they receive some percentage of their deposit. In the case of farming at the Nominex exchange, the investor's deposit is blocked, and the percentage is floating. It can reach 100% or more. From a technical point of view, the farming system is convenient because it is a separate service integrated into the platform. It is part of the Binance ecosystem, so it is in sync with the exchange wallet and gives access to BNB tokens.
Examples of staking programs (accurate as of 06/28/2022):
NMX-USDT contracts, $18,119,052 liquidity pool, 83.56% interest rate.
ADA-USDT contracts, $318,814 liquidity pool, current interest rate 53.5%.
ETH-USDT contracts, $1,634,513 liquidity pool, 33.47% interest rate.
The service is called Nomiswap, the user can go to it from the user account on the website or in the mobile application. Additional registration is not required. In the same service, in addition to statistics on farming/staking, statistics on income from the referral program are reflected. There is an additional feature like a quick conversion of cryptocurrencies at the market rate. The interface is simple and intuitive, nothing more.
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.
Nominex’s affiliate program
Nominex has a non-standard referral program. Most exchanges simply pay a percentage of the commissions of invited users and do not introduce any levels. Here, the trader receives the highest percentage from referrals he invited directly. But he also has access to bonuses for traders brought to the platform by his referrals.
In total, the Nominex exchange offers 9 types of such bonuses. For example, all referrals are divided into teams according to the dominant referral (the one invited by the user himself). Each month, the total amount of team commissions paid in NMX is calculated. The team with the smallest volume brings the trader 10% of the paid commission amount.
User Satisfaction