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
- Proprietary platform
- Native token QDX
Our Evaluation of Quidax
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
Quidax is a high-risk cryptocurrency exchange with the TU Overall Score of 2.73 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Quidax 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.
Quidax is a regional exchange for residents of Nigeria and African countries with average market fee schedule that is promoting its native token QDX. According to analytical data, over 400,000 traders from 70 countries are clients of the exchange. However, the trading conditions still make this platform a regional one.
Brief Look at Quidax
Quidax is a small regional exchange launched in the middle of 2018 in Nigeria. The main focus of the exchange is a platform to buy/sell cryptocurrencies, although the launch of DeFi and NFTs is also in the plans. The exchange offers access to trading over 25 coins, but ВТС and BNB account for over 50% of the trading volume. The available currency pairs include cryptocurrencies combined with stablecoins and the national currency of Nigeria naira. The daily trading volume of the exchange is USD 8-10 million. Based on the summary of criteria, CoinMarketCap analytical portal assigned the exchange a rating of 3.4 out of 10.
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- High transaction processing speed;
- Order book that allows traders to quickly find the best prices;
- Technical solution that allows users to quickly exchange large amounts of cryptocurrencies. Proprietary app, which is a payment method for website owners.
- Withdrawal fee, and additional fees for faster withdrawal. High taker fee;
- No competitive advantages, unique products, instruments, etc.;
- It is impossible to work with USD and EUR.
TU Expert Advice
Financial expert and analyst at Traders Union
Quidax is a small exchange focused exclusively on the African market. This explains relatively low trading volume, as there is a lot less money in the region compared to the U.S. and Europe. However, the regulation is also simpler there. The local regulatory authorities do not prohibit, but also do not support the legislatively uncertain cryptocurrency market. Perhaps because of the regulation, the developers are not in a hurry to enter the global market, but this is also the main risk for an investor, the risk that Quidax may follow the path of Africrypt.
The roadmap of the exchange suggests gradual expansion of the functionality, entering the segment of DeFi and NFTs, although the realization of these plans is slow. The few unique tools include the order book, OTC Desk (access to over-the-counter trading with large amounts), and instant swap (an instant exchange technology). The exchange also has its own native token of the ecosystem with the possibility of staking. The conditions of staking are not disclosed.
The exchange is interesting for its quick transaction performance technologies and technical solutions for businesses: ОТС Desk, API, etc. There is a separate business account for legal entities. Partnership with BNB developers is another advantage. The creation of tokens is supposed to be based on Binance Smart Chain. Still, Quidax remains a small platform, which is interesting only to a narrow circle of investors. The reason is a small selection of cryptocurrencies, the lack of access to the global, cryptocurrency market, issues with the promotion of the QDX token.
Quidax Summary
| 💻 Trading platform: | Proprietary platform |
|---|---|
| 📊 Accounts: | Client account |
| 💰 Account currency: | Nigerian naira (NGN) and cryptocurrencies |
| 💵 Deposit / Withdrawal: | N/a |
| 🚀 Minimum deposit: | 1$ |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | N/A |
| 💱 Commission: | Spot: 0,1%-0,15% |
| 🔧 Instruments: | 75 supported coins, Fiat. |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Order execution: | N/A |
| ⭐ Trading features: | Native token QDX |
| 🎁 Contests and bonuses: | No |
Quidax has a large fee schedule. The fees are divided into maker and taker fees, and there is also a transaction fee and withdrawal fee. The fees for any transfers of cryptocurrency beyond the platform are fixed in the withdrawal currency. There is also a 1% fee for quick money withdrawal (Instant Swap).
Quidax Key Parameters Evaluation
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Regulation and safety
With a 6.75/10 score, Quidax demonstrates a moderate level of security and regulation. While the platform meets basic safety standards, it may not offer the same level of protection as higher-rated exchanges.
- Cold wallet storage
- No successful hacks history
- 2FA
- Government-regulated
- Not tier-1 regulated
- No investor protection fund
- No facial recognition
- Not U.S regulated
Quidax Security Factors
We also compared Quidax against the top two competitors with the highest scores in our overall ranking based on the most critical security indicators.
| Quidax | Bybit | MEXC | |
| Tier-1 regulation | No | Yes | No |
| Government-regulated | Yes | Yes | No |
| Investor protection fund | No | Yes | No |
| 2FA | Yes | Yes | Yes |
| Facial recognition | No | Yes | No |
| Cold wallet storage | Yes | Yes | Yes |
| Successful hacker attacks | No | Yes | No |
Is Quidax a regulated crypto exchange?
Quidax is regulated by a government authority, ensuring compliance with national and international standards. However, it does not hold Tier-1 regulation (e.g., in the U.S., UK, Germany, Spain, France, Australia, Singapore, or other jurisdictions with strict financial oversight). While this regulation provides an added layer of security and legitimacy, it may not offer the highest level of investor protection found in top-tier regulatory environments.
Quidax is authorized or licensed in accordance with local regulations in the following regions: Nigeria.
Is verification (KYC) mandatory at Quidax?
Yes, KYC verification is mandatory at Quidax. You will need to complete the verification process before you can open an account and access the platform's full range of services.
In which countries is Quidax available?
Quidax complies with international sanctions and regional restrictions. Services are limited or unavailable in the following countries: Ukraine, Pakistan, Philippines, Iran, Islamic republic, Sri Lanka, China, Venezuela, Bahrain, Palestine, Jordan, Iraq, Qatar, Kuwait, Lebanon, Libyan Arab Jamahiriya, Oman, Syrian Arab Republic, Tunisia, Yemen, Botswana, Tanzania, United Republic Of, Zimbabwe, Namibia, Ethiopia, Jamaica, Zambia, Hong Kong, Afghanistan, Trinidad and Tobago, Brunei, Nepal, Serbia, Somalia, Cameroon, Rwanda, Slovenia, Eswatini, Croatia, Mongolia, Burma, Montenegro, Cambodia, Taiwan, Mozambique, Madagascar, Dominican Republic, Albania, Mauritius, Puerto Rico, Cote d'Ivoire, Laos, Macedonia, Papua New Guinea, Costa Rica, Luxembourg, Malta, Ecuador, Bahamas, Haiti. For the most up-to-date information on regional availability, please contact Quidax support.
Is Quidax available in the USA?
Yes, Quidax is available in the USA. However, availability may vary by state due to local regulations. We recommend checking the official website or contacting support for up-to-date information specific to your location.
Quidax commissions and fees
Quidax received a 7.45/10 score for its trading fees. While Quidax is not the cheapest crypto exchange, the fees remain reasonable and competitive within the market.
- Spot fee below industry average
- No deposit fee
- Withdrawal fee may be applied
- P2P fee applied
What are Quidax trading fees?
We analyzed Quidax’s crypto fees and compared them to the top two competitors, both of which hold high average positions in our rankings. To establish a comprehensive benchmark, we also calculated the average fee score based on an evaluation of over 100 cryptocurrency exchanges.
Quidax trading fees vs competitors
| Quidax | Nexus Trade | Paxful | Industry average | |
| Spot, maker fee (%) | 0,1 | 0,22 | 0 | 0.15 |
| Spot, taker fee (%) | 0,15 | 0,22 | 0 | 0.194 |
What are Quidax deposit and withdrawal fees?
| Deposit fee, % | 0 |
| Withdrawal fee, % | 0,0005 BTC 0,005 ETH |
Does Quidax offer P2P trading?
Yes, Quidax offers a P2P trading platform. We have provided the fees for these transactions and compared them with competitors.Quidax P2P Fees
Deposit and withdrawal
Quidax received a 5/10 rating for its deposit and withdrawal services. While Quidax covers basic payment options, the platform lacks some widely used methods that could improve user flexibility.
- P2P for flexible transfers
- No deposit fees
- Many cryptocurrencies for deposits and withdrawals
- Bank transfers for deposits and withdrawals
- Withdrawal fee applies
- No Google Pay option
- No support for bank card payments
Deposit and withdrawal options
Quidax supports the following deposit and withdrawal options: Bank Wire, Crypto.
Quidax Deposit and withdrawal options vs competitors
| Quidax | Bybit | MEXC | |
| Bank transfers | Yes | Yes | Yes |
| Bank card | No | Yes | Yes |
| Crypto | Yes | Yes | Yes |
| PayPal | No | No | Yes |
What is Quidax minimum deposit?
The minimum deposit at Quidax is 10 USD/USDT or 0,0001 BTC. The minimum trade size is 10 USD/USDT, which also serves as the minimum amount required to start trading on the platform.
Quidax minimum deposit vs competitors
| Quidax | Bybit | MEXC | |
| Minimum deposit, USD or USDT | 10 | 1 | 1 |
| Minimum deposit, BTC | 0,0001 | 0,000006 | 0,0001 |
| Minimum trade amount, USD/USDT | 10 | 1 | 1 |
Does Quidax support fiat money?
Quidax supports fiat currency trading and account funding. The following fiat currencies are accepted:
Supported coins & markets
Quidax received a score of 2.5/10 in this category, indicating a modest offering of assets and markets. While Quidax covers essential trading functions, the number of supported coins, fiat currencies, and investment tools may be insufficient for users seeking more comprehensive options.
- Fiat currencies supported
- Other supported products
- Copy trading not available
- Yield farming not available
Quidax supported coins and markets vs competitors
We compared Quidax with leading exchanges in terms of supported coins, NFT access, and derivatives like futures and options to help users assess the platform’s product range and trading flexibility.
| Quidax | Bybit | MEXC | |
| Supported coins | 75 | 638 | 2276 |
| Futures/Perpetual contracts | No | Yes | Yes |
| Options | No | Yes | No |
| NFTs | No | Yes | Yes |
Quidax passive income options vs competitors
We also compared Quidax with top competitors in terms of passive income opportunities such as staking, farming, and copy trading, to help users evaluate the platform’s earning potential beyond regular trading.
Trading apps & tools
Quidax received a score of 6.5/10 for offering a solid set of tools. The apps are intuitive and reliable, though certain advanced features remain limited or could benefit from further development.
- Android app score 4
- Advanced tools and automation with API
- App data protection with 2FA
- Positive user feedback on the iOS app
- No trading bots for traders
- No access to Copy Trading
- No standalone desktop access
Trading apps
Quidax provides web and mobile apps for both Android and iOS users, with an average rating of iOS App Score on the App Store and Android App Score on Google Play. Our review focused on core features important to traders, particularly trading functionality and security tools, to evaluate how convenient and safe the Quidax platform is for mobile use.
| Quidax | Bybit | |
| 2FA | Yes | Yes |
| Face ID | No | Yes |
| Mob Indicators | Yes | Yes |
| Alerts | Yes | Yes |
| Advanced Orders | No | Yes |
| Trading with bots | No | Yes |
| API | Yes | Yes |
| Extra trading platforms | No | MT4 |
Does Quidax offer a desktop app?
No, Quidax does not currently offer a desktop app. However, users can access the platform via its web version, which provides more comprehensive functionality compared to the mobile apps.
Does Quidax offer advanced charting with TradingView integration?
No, Quidax does not currently support TradingView integration. However, it provides its own built-in charting tools with basic indicators and timeframes.
Contacts
| Foundation date | 2018 |
|---|---|
| Registration address | San Gwann, NA - Malta, Malta |
| Official site | https://www.quidax.com/ |
| Contacts |
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