WazirX Review 2024
Minimum
deposit:
  • $1

Trading platform:

  • Proprietary platform

WazirX Review 2024

Updated:
Updated: October 06, 2023
Your capital is at risk.

4.48

/

10

TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

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
Minimum
deposit:
  • $1

Trading platform:

  • Proprietary platform
Trading features:
  • Only INR from fiats, many cryptocurrencies, and tokens, no commissions for P2P, high terminal speed, 50% payments under the referral program

Summary of WazirX Crypto Exchange

WazirX is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 4.48 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by WazirX clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work. WazirX ranks 41 among 173 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.

Experts consider WazirX as one of the most promising cryptocurrency exchanges. At the moment, over 140 assets are represented there and their number is constantly growing. Reference is made to the high speed of all types of transactions. The convenient highly protected proprietary trading terminal comes in Windows, Mac, iOS, and Android versions. This exchange is focused more on novice traders.

NOTE!

If you are planning to trade cryptocurrencies, and not just keep your savings in crypto wallets, we recommend that you choose one of the top brokers with reliable regulation and access to trading crypto CFDs. This type of trading will help you avoid holding your cryptocurrency in e-wallets of exchanges, which quite regularly get hacked. Also, availability of leverage will allow you to trade crypto CFDs for amounts much higher than your deposit.

Traders Union experts recommend considering Top 3 companies from our rating:

Start Trading with RoboForex
Your capital is at risk.
Editorial Note: While we adhere to strict Editorial Integrity, this post may contain references to products from our partners. Here's an explanation for How We Make Money. We are unable to verify the validity of reviews and publish all reviews, both positive and negative, in accordance with the Users Reviews Policy.

The WazirX exchange is a cryptocurrency exchange and trading platform. The site offers such assets as Bitcoin, Ethereum, Ripple, Litecoin, and others. The WRX is the platform's proprietary token, which was created to draw attention to the site and is the essence of the cryptocurrency exchange ecosystem. You can exchange the WRX token for cryptocurrencies and other tokenized assets. The company has developed its own trading terminal with a high degree of protection. The terminal is provided in desktop and mobile versions. The system’s infrastructure can vary scale in a few seconds to meet a growing demand and ensure high transaction rates. It is a young Indian exchange that uses advanced technologies and offers comfortable trading terms.

💰 Account currency: Cryptocurrencies, INR
🚀 Minimum deposit: $1
⚖️ Leverage: 1:1
💱 Spread: Market
🔧 Instruments: Cryptocurrencies, INR
💹 Margin Call / Stop Out: No

👍 Advantages of trading with WazirX:

  • variety of cryptocurrencies and tokens;
  • you can replenish the balance using fiat currency;
  • high-speed order execution;
  • fast funds replenishment and withdrawals;
  • the platform's proprietary token is traded without commission;
  • simple interface, suitable for novice traders.

👎 Disadvantages of WazirX:

  • overestimated commissions for individual assets;
  • no discounts for high trading volumes.

Evaluation of the most influential parameters of WazirX

User Satisfaction Customer Satisfaction Score (CSAT) is a unique metric of Traders Union based on the analysis of user reviews posted on pages of each broker profile by the visitors of our website from all around the world. We have been collecting these broker reviews for over 13 years, and therefore, we know and understand the level of customer satisfaction with a specific brokerage company better than anyone else.

3.53

/10

Commissions and fees This parameter comprises a comprehensive analysis of all commissions and fees charged by a brokerage company, including trading and deposit/withdrawal fees. Also specific fees, for example the inactivity fee, are taken into account in the final score for the fees. Users can find detailed fees charged by a company in the broker’s profile.

7.05

/10

Trading instruments For this parameter, we evaluate the number of trading assets a broker offers access to in each group of financial instruments. We analyze the quotes a broker offers on Forex pairs, metals, indices, commodities, stocks, and cryptocurrencies. This parameter also includes evaluation of broker’s investment programs, for example access to copy trading, which we regard as an additional type of a trading instrument.

6.83

/10

Brand popularity Traders Union experts are confident that brand awareness mostly fully reflects the real state of affairs in a company – the more popular the broker, the more people trust it. The score for this indicator is based on the data analysis of such services as Ahrefs and SemRush, which show how often a company’s brand is searched on Google. In addition, indicators of the SimilarWeb service, which show the approximate number of visitors of the broker’s website, are also taken into consideration. We also review disclosed official reports of brokers, which allow for evaluating their client base.

6.99

/10

Customer support The score of this parameter is based on the number of available communication channels of a company’s support service. The quicker and easier it is to contact the broker’s support, the higher the score. We check every available support channel, test the speed of processing of requests and completeness of provided information through several interactions.

7.35

/10

Education This parameter provides an evaluation of a company’s capacity to work with beginners. Only quality training and provision of full and unbiased information can help novice traders and investors minimize the risks of losing money, even when working with top-ranked companies. Brokers with useful educational and informational tools, including webinars, tutorials, podcasts and articles, receive higher scores.

7.57

/10

NOTE!

Do not miss a chance to get additional monthly bonuses and payouts for trading at WazirX cryptocurrency exchange.

Login preview

Enter the referral code when you register on the website or WazirX app.

ppxu8wqm

Login preview

*TU may receive partnership reward for registration of the client on the company’s website on a referral link.

Your capital is at risk.

Geographic Distribution of WazirX Traders

Popularity in

98.2%
IN
India
0.3%
TR
Turkey
0.2%
US
United States
0.2%
ID
Indonesia
0.1%
Others
Others

User Satisfaction i

20 comments
Total score:
6.9 /10

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pranil
10 weeks ago

WazirX boasts an extensive selection of cryptocurrencies. But the fee structure is disproportionately high compared to competitors, eating into profits and discouraging active trading. Hidden fees and unclear pricing models only add to the frustration, leaving traders feeling nickel-and-dimed at every turn.

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Maruson
1 year ago

Of course, they threw me beautifully at WazirX. At first everyone was so friendly. Filled them with money - immediately the attitude changed. And then they just did everything to drain my money. I do not recommend!

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joeliz60
1 year ago

I can't call WazirX normal. They interfere with work, so it’s impossible to trade profitably. They leaked me a couple of times, I decided to leave. I withdrew the balance from the account for 2 months. I do not recommend trading with this company.

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otlivnopmestfefs
1 year ago

I decided to open a trading account with WazirX. I registered, and immediately the manager of this company called me. I didn't like his aggressive demeanor. I told him about it. In response, insults rained down. I immediately knew who I was dealing with. Didn't even make money.

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wisavi
2 years ago

This is my first time working with the Indian stock exchange, although I have heard that this country is actively developing in the field of technology. And WazirX seems to be a good exchange. Assets are popular, for the most part, except that you need to get confused with commissions, for some cryptocurrencies they are not very profitable. But the terminal is great! Clear, simple, I still have enough functionality, but we'll see. This is enough for my current level, but I think if I decide to increase volumes, I won’t stay at WazirX: it’s more pleasant to have bonuses at high volumes, which WazirX cannot offer. I recommend it for beginners and amateurs. There will be no problems with speed, replenishment and withdrawal. The rest is up to you and your work.

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HilmEvele
2 years ago

I can only say good things about the WazirX cryptocurrency exchange, although initially, I had a skeptical attitude towards it (after all, it is a fairly young and completely non-publicized company with an Indian registration). Now I understand that I was very mistaken and it can give good odds even to top platforms. WazirX produces favorable services to its clients. It has a variety of cryptocurrencies and a quality terminal (it has its own development with a high degree of protection). I also liked its native WRX token, which was launched to motivate users. Conveniently, it can be exchanged for tokenized assets or other cryptocurrencies.

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eksrao111
2 years ago

I registered on the WazirX platform on the recommendation of a friend. I was looking for an exchange where you can comfortably trade crypto such as Bitcoins, Ether, Litecoins, etc. To be honest, I am not interested in some exotic digital assets, the most popular cryptocurrencies would be enough. WazirX, although a young cryptocurrency exchange, is trying to develop and meet the requirements of its customers. The terminal has a proprietary design and is really cool. Conveniently, it is presented in desktop and mobile versions. I have frequent business trips, so I have to trade from my smartphone.

Expert Review of WazirX

The WazirX cryptocurrency exchange is just beginning its journey, it was created in 2018. During the past three years, the platform has developed its proprietary trading terminal, which is provided in four versions, two for a desktop, and two for mobiles. The terminal interface is rated as intuitive and because it is user-friendly, it is ideal for novice traders. Also, it is functionally up there with the best segment representatives.

WazirX permits most trading strategies, including scalping. Limits and commissions depend on the selected currency (there are no commissions for P2P). This may be unusual and even inconvenient, but it should be considered more as a nuance, rather than a disadvantage. Also, some traders point to the absence of a call center, although, in general, the technical support meets the appropriate requirements.

The cryptocurrency exchange doesn’t have investment programs. As for passive earnings possibilities, an affiliate program with a referral link is offered, due to which the user gets 50% of the commissions on his transferals’ transactions. Please note that only Indian Rupee (INR) is available on the exchange. Stability and high speed of operations are among the conceptual advantages of the platform.

Anton Kharitonov

Anton Kharitonov

Financial expert and analyst at Traders Union

Latest WazirX News

17.05.2023
Indian cryptocurrency exchange WazirX published a message on social media, which should clarify the ongoing confrontation with Binance.The post states that

Dynamics of WazirX’s popularity among
Traders Union’s traders, according to 2023 data

Logo TU
20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
Jan.
Feb.
Mar.
Apr.
May.
Jun.
Jul.
Aug.
Sep.
Oct.
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Investment Programs, Available Markets, and Products of the Crypto Exchange

The WazirX cryptocurrency exchange doesn’t offer investment programs. Traders registered on the site can only earn income by trading cryptocurrencies and tokens.

Important!

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.

Affiliate programs of WazirX

The cryptocurrency exchange WazirX uses a standard affiliate program. Traders get payments from the commissions of invited users. The algorithm for participation in the program is as follows:

  • Register on a cryptocurrency exchange, and go through verification. After registration, you will receive a personal referral link to be sent to other people.

  • A user who registers on the WazirX cryptocurrency exchange using your link will become a referral. Each referral will bring you 50% of the commission on their trades.

All income from the referral program shall be paid to your wallet within 24 hours after the commission for the referral's transaction is withdrawn. The program is indefinite and single-level.

Trading Conditions for WazirX Users

It is convenient to cooperate with WazirX due to low commissions, besides there are no commissions for the P2P segment at all. Taking into account the high operations speed and a well-considered trading terminal interface, WazirX could be considered as the optimal cryptocurrency exchange option for novice traders and professionals. Also, there is the possibility of passive earnings through the referral program for active traders.

$1

Minimum
deposit

1:1

Leverage

24/7

Support

💻 Trading platform: Proprietary platform
📊 Accounts: Standard
💰 Account currency: Cryptocurrencies, INR
💵 Replenishment / Withdrawal: Bank accounts, cryptocurrency wallets
🚀 Minimum deposit: $1
⚖️ Leverage: 1:1
💼 PAMM-accounts: No
📈️ Min Order: From 0
💱 Spread: Market
🔧 Instruments: Cryptocurrencies, INR
💹 Margin Call / Stop Out: No
🏛 Liquidity provider: No
📱 Mobile trading: Yes
➕ Affiliate program: Yes
📋 Orders execution: n/a
⭐ Trading features: Only INR from fiats, many cryptocurrencies, and tokens, no commissions for P2P, high terminal speed, 50% payments under the referral program
🎁 Contests and bonuses: n/a
Your capital is at risk.

Broker comparison table of trading instruments

WazirX Bybit MEXC Binance OKX Lbank
Forex No No No Yes No No
Metalls No No No No No No
Crypto Yes Yes Yes Yes Yes Yes
CFD No No No No No No
Indexes No No No No No No
Stock No No No No No No
ETF No No No No No Yes
Options No No No No No No

WazirX Commissions & Fees

Information
The exchange transactions, deposits, and withdrawal commissions depend on the specific asset used in the transaction. The maker/taker fees for most assets is 0.2%. Example of terms: if you are trading Cardano (ADA), the deposit fee will be 3 ADA, the minimum deposit is 6 ADA, the limits on the minimum and maximum withdrawal are from 50 to 5141 ADA, respectively. Please note that commissions are zero for all the P2P operations, regardless of the transaction type and its volume.
Account type Spread (minimum value) Withdrawal commission
Standard From 0.2% per market order Yes

Some commissions apply to STF instruments. The profit fee is 25%, the transaction limits are from $5 to $100,000. In general, Wazir’s commissions are the same as its competitor's or less. Here's a comparison to some of the other cryptocurrency exchanges:

Broker Average commission Level
WazirX $0.2 Low
Binance $6 Medium
Bybit $20 High
Logo WazirX
$0.2
$6
$20

Contacts

Foundation date 2018
Registration address Unit at 10th Floor, WeWork, L&T Tower 1, Seawoods Grand Central, Seawoods, Navi Mumbai, Maharashtra 400 706, India.
Official site
Your capital is at risk.
Disclaimer:

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.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.
WazirX Review WazirX Review

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FAQs

Do reviews by traders influence the WazirX rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about WazirX you need to go to the broker's profile.

How to leave a review about WazirX on the Traders Union website?

To leave a review about WazirX, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about WazirX on a non-Traders Union client?

Anyone can leave feedback about WazirX on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

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