EXMO Exchange Review 2022 – Pros, Cons & Features

The crypto market has been growing at an unprecedented pace for the past couple of years. It is fair to say this growth comes after a long wait for many crypto spectators. With Bitcoin’s launch in 2009, most people presumed it to gain immediate popularity among the general populous. 

But evidently, that was not the case as crypto was a relatively new concept that promised to revolutionize finance as we know it. So, while a specific segment of the population was excited about this change, skeptics overpowered this segment. Fortunately, things started to change recently, and the public opinion toward crypto also began to change. 

Many people are optimistic about the future of cryptocurrencies which further fuels their popularity. With increasing popularity, more and more people now want to invest in crypto trading and learn more on the subject. Yet finding the right crypto trading platform to suit your preferences and requirements is never easy. 

But we are here to make this decision easy for you with this detailed review about EXMO, one of the leading crypto exchanges. This review will walk you through the exchange’s details and offerings. By reaching the final verdict, you can easily decide if EXMO is the right crypto trading platform for you. So let’s get started with any further ado. 

Pros And Cons of EXMO

EXMO At A Glance

EXMO: Company Overview

Based in the UK, EXMO is one of the most popular crypto exchanges that came into being in 2014. The platform offers crypto trading services to users across the European continent. EXMO’s headquarters are based in London and support offices in Kyiv and Moscow. 

EXMO also has its native coin that goes by the EXMO Coin (EXM), which was released in 2019. Traders can use this coin to avail of many benefits such as low trading fees, referral bonuses, and other cashback rewards. In addition, the platform supports more than 50 different cryptocurrencies and seven fiat currencies, including GBP, USD, and more. 

Most importantly, EXMO is regulated by one of the most respected regulators in the UK Financial Conduct Authority (FCA). Thus, all things aside, traders need not worry about their safety and security when trading cryptos on EXMO.  

Over the years, EXMO has earned a reputation with unmatched customer support, a seamlessly navigable user interface, and a mobile app for convenient crypto trading. In addition, EXMO allows you to trade in more than 180 different trading pairs ensuring you never fall short of opportunities to generate great returns.

Trade with EXMO

Cryptocurrencies Supported By EXMO

Regarding the number of cryptocurrencies, EXMO proudly boasts its wide range of cryptos readily available on the platform. Currently, EXMO supports over fifty different cryptocurrencies giving you a wide range of options to choose from. In addition, the platform also offers 180 other trading pairs. Some of the best-known cryptos you can access in EXMO include:

Some of the best-known trading pairs you can find on EXMO include:

Those above are just a few of the many crypto trading pairs available on the EXMO platforms. Besides them, numerous other crypto trading pairs help you make the most of every opportunity that comes your way. 

Key Features of EXMO

EXMO provides traders with a wide range of features and functionalities to ensure they enjoy an unmatched trading experience. Almost every feature you can find on the platform is curated with traders in mind. So you can be sure these features will serve all your requirements effectively. Thus, here are some key features of EXMO that you should know about. 

OTC Trading Desk

Crypto trading is now a mainstream factor for many investors all across the globe. Therefore, it is not surprising to find crypto traders trading in great volumes. However, trading in larger volumes can be challenging for many users with the standard interface. Therefore, EXMO provides its users with an off-the-counter trading platform. 

This OTC trading desk is designed to cater to the unique requirements of advanced traders involved in large volume trading that exceeds the worth of $100000. Traders can use the platform to eliminate many complications they encounter with the standard interface. Any trader can access the features of the OTC trading desk by submitting a simple form on EXMO’s website. 

Wide Range of Deposit Methods

Before starting trading in cryptos, you first need to deposit funds on the exchange. Unfortunately, this depositing process can be cumbersome in the cases of the most prevalent crypto exchanges. Besides, the limited options for deposits also pose many challenges for traders. But that is not the case with EXMO, which provides its traders with numerous options to make deposits without hassle. 

You can use the EXMO wallet and deposit funds into the wallet using your existing assets. If you are just starting crypto trading, you can also use your fiat currencies to make the deposit. The platform supports various fiat currencies, including the USD, GBP, EUR, and more. You can even leverage the bank wire transfer mechanism to deposit funds in your EXMO wallet. 

Spot Trading 

Not everyone is interested in different complex types of trading that require a lot of resources. Hence it can be challenging for such traders to find a simple way to trade their cryptos without dealing with different complexities. EXMO has just the right solution for this issue with its spot trading services. 

The spot trading mechanism offers users a simple and convenient way to trade their cryptos in no time. All you need to do is click the “trade” button on EXMO, which will automatically open a new window. This new window will allow you to trade crypto with just a few clicks. You can even track the movement of different cryptos and list them accordingly for better convenience. 

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Low Trading Fees           

Most crypto traders often complain about high trading fees regardless of their experience and understanding of the crypto market. There have been many cases where trading fees charged by crypto exchanges significantly reduced the trader’s returns. But that will not be a complaint from traders on the EXMO platform, which offers highly competitive trading fees. 

What’s even better for crypto traders is they can benefit from many cash back programs offered by the EXMO. Other than that, using EXMO’s native token will give you more trading fees based on different factors. These discounted rates may vary based on the type of crypto trading you are interested in.  

Additional Features of EXMO

EXMO goes to a great extent to ensure users can benefit when trading their cryptos on the platform. So apart from the above-mentioned vital features, the platform also offers many additional features designed to enhance your overall trading experience. So continue reading to understand better these additional features and how they can benefit you as a trader on the platform. 

• EXMO Mobile App: Apart from the user-friendly desktop version of EXMO, you can even access the EXMO mobile app. Traders can access all the features and functionalities they can get in the desktop version of EXMO. So the mobile app makes it significantly easier for you to trade your cryptocurrencies even when on the go on both Android and iOS devices.
• EXMO Gift Cards: EXMO gift cards are probably one of the best features that benefit traders on the EXMO platform. This has made it much easier to exchange their funds with each other without any hassle or complication. Every EXMO user can activate and generate the EXMO gift card in no time. 
• Customer Support: It is common for traders to encounter different issues when trading cryptos. This is not a concern with EXMO, which has long been known to offer unmatched customer support to its users. You can reach the experts through online chat, email, or even create a support ticket to resolve your issue in no time.       
• VIP Features of EXMO: Every platform has unique users who add great value to the platform. These users generally hail from banking and financial services where crypto is important. Users can avail themselves of different VIP services, including professional consultations, better spending limits, corporate accounts, and even individual tariffs. 
• Numerous Trading Pairs: EXMO is one of those few crypto exchanges that provides traders with a wide range of trading pairs. The platform allows you to trade your cryptos in over 108 different trading pairs. As a result, you can always be certain you make the most of every opportunity that comes your way. 

Fee Structure of EXMO

Like most other crypto exchanges in the market, EXMO charges trading fees based on the taker and maker mechanism. The starting trading fee in EXMO starts with a flat 0.3%. But this percentage keeps on decreasing with the increase in 30-day trading volume. Refer to the table mentioned below to get a better understanding of EXMO’s trading fee structure. 

Besides that, EXMO also charges fees on the deposits and withdrawals traders make on the platform. So refer to the table below to better understand the deposit and withdrawal fees of EXMO.

EXMO’s withdrawal and deposits fees with USD:

EXMO’s withdrawal and deposit fees with EUR:

How Secure is EXMO?

EXMO is one such crypto trading platform that takes many measures to ensure the safety and security of every trader on the platform. While the platform has fallen victim to certain attacks from hackers, they have managed to strengthen its security further. 

EXMO ensures air-tight security for its traders to help them make the most of its offerings with uncompromised security. So let’s look at some of the most effective safety and security features that EXMO offers.     

1. Two-Factor Authentication (2FA): Unauthorized access to traders’ accounts has long been a concern for crypto traders. EXMO prevents unauthorized access to traders’ accounts with two-factor authentication (2FA). This means after entering your password, a code will be sent to your phone or email, and you need to enter this code to access your account and funds. 
2. Cold Storage: One of the best lessons EXMO has learned from the hacker attack is securing its funds. The platform stores its cash and coins in cold storage, which means offline storage. This prevents hackers from accessing the funds, ensuring your crypto assets remain safe and secure at all times. 
3. IP Address Recognition: Another great thing about trading cryptos on EXMO is that the platform will notify you if someone accesses your account from an unfamiliar IP address. You will also get the system’s IP address to access your account or funds. This allows you to block access to the account before any damage is caused. 
4. Know Your Customer (KYC): EXMO mandates all the traders on its platform to comply with the KYC requirements. Of course, this slows down the sign-up process, but it is worth it. KYC ensures that scammers do not find their way into the platform, ensuring your safety.

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How To Open An Account on EXMO?

Getting started with crypto trading on EXMO is very easy as the process only takes a few minutes. You need just a few steps, and you can start trading your cryptocurrencies without any hassle. This is also an aspect that sets the platform apart from most of its competitors. So let’s check out these steps.

Step 1: Open the EXMO website or mobile application

Step 2: Click on the “Sign Up” tab.

Step 3: Fill in the necessary credentials and information. 

Step 4: Complete the reCAPTCHA and click on the Sign-Up tab.

Step 5: You will receive a confirmation on your email address or mobile number.       

Step 6: Confirm the activation, and voila, your account is created 

Once done, you’re all set to deposit funds in your account and start trading cryptos without hassle.  

Customer Satisfaction

EXMO is one of those few crypto trading platforms that ensures its users enjoy unmatched customer satisfaction at all times. The platform comes with a user-friendly interface that eliminates all the hassle of crypto trading, allowing you to trade your crypto easily. Besides that, users also get access to the EXMO mobile app, which facilitates convenient crypto trading. 

With the EXMO crypto trading platform, traders also access a wide range of features and functionalities. These features are designed to cater to the unique requirements of traders. In addition, traders also get access to a wide selection of crypto and trading pairs ensuring they never miss out on any opportunity to generate extensive returns. 

Unlike most other crypto trading platforms, EXMO provides its users with numerous mediums to deposit funds on the platform. This makes it very convenient for traders as they have the flexibility to choose the method that best serves their requirements. Given all these offerings packed into a single platform, it would be safe to say that EXMO offers great customer satisfaction. The same is reflected when you read the online reviews of existing EXMO users. 

Trade with EXMO

EXMO Vs. Competition

There is no doubt that EXMO is one of the best crypto trading exchanges currently available. But it is also true that it is not the only crypto trading platform in the market. Many other such platforms strive to overpower EXMO with their offerings and features. 

As a crypto trader, it is essential to ensure you weigh the offerings of each of these platforms. This will ensure you make the right and informed decision about choosing the platform that best serves your requirements. So let’s compare EXMO with one of its leading competitors Coinbase. 

EXMO Vs. Coinbase

Looking at the short but detailed review, it’s evident that Coinbase takes the lead over EXMO in several aspects of trading, features, and functionalities. However, EXMO is a more affordable crypto trading due to the lower maker and taker fee it charges to the users. Therefore, if you’re a user looking to make the most of your trading journey affordably, EXMO is your platform to sign up with!

Trade with EXMO

Final Verdict

EXMO has earned quite a reputation for itself since its launch in 2013. Users from all over the European continent are using the platform to enjoy seamless crypto trading with a wide range of features. But that does not mean the platform is free of all flaws and shortcomings. Therefore, it is essential to ensure you are aware of all the strong points and shortcomings of EXMO. So continue reading to learn more. 

Should You Consider Using EXMO?

• Great Customer Support: Crypto trading is anything but easy, so traders might often come across different issues. That is not an issue with EXMO, as the platform offers unmatched customers anytime and day. This makes it easier for people to enjoy uninterrupted crypto trading.
• Wide Range of Cryptos and Trading Pairs: Another great thing about EXMO is the platform supports over 50 cryptos. The platform also offers users an extensive range of trading pairs amounting to over 180 different pairs. This ensures traders never miss out on any opportunity to generate revenue through crypto trading. 
• User-Friendly Interface: Both desktop and mobile versions of EXMO offer an amazing interface to its users. As a result, traders can seamlessly navigate through the platform and enjoy a great crypto trading experience without any hassle. Whether using the mobile app or the desktop version, crypto trading with EXMO will always be a fun experience. 
• Hassle-Free Deposits: Depositing funds into your EXMO account could not get any easier. The platform supports numerous deposit methods to ensure you enjoy a hassle-free and convenient depositing experience. It also supports many fiat currencies, a quality hard to find in crypto exchanges these days.

Shortcomings of EXMO

1. No Leverage Trading: Leveraging trading is prevalent among crypto exchanges. But EXMO does not provide its traders with the option of leverage trading, which can be a triggering concern for many crypto traders. It would be much better if crypto traders’ coils access the leverage trading option on the user-friendly interface of EXMO. 
2. Some Crypto Exchanges Support More Cryptos: Supporting over 50 cryptocurrencies is often enough for traders. But this might not always be the case as many other platforms offer traders a more comprehensive range of cryptocurrencies. EXMO must consider adding more cryptos to its collection. 

With this, we come to the end of our comprehensive review on EXMO! Considering all the features and functionalities the platform offers, it won’t be wrong to say that EXMO is a reliable, convenient, and pocket-friendly option to kick off your crypto journey. However, the platform comes with its downsides too. 

Therefore, if you’re one of those users who want to explore more registered crypto projects or perform trades using leverage, you might want to try out another platform. However, once in search of the new platform, we suggest you analyze it well before registering an account with them. All the best! 

FAQs

Does EXMO accept fiat deposits?

One of the best qualities of EXMO is the platform accepts deposits in many ways. EXMO supports seven fiat currencies, including GBU, EUR, USD, and much more. Besides that, you can even deposit funds using bank wire transfer or debit and credit cards.

Where is EXMO based?

EXMO offers its crypto trading services to traders from all over Europe, with its headquarters in London, UK. The platform is also registered with concerned authorities in the UK, so you need not worry about its legitimacy.

How do I withdraw my funds from EXMO?

Withdrawing funds from the EXMO crypto trading platform is a straightforward affair. Traders can withdraw their funds through other cryptos, fiat currencies, or MasterCard and Visa. However, in general, the withdrawal can take some time due to the verification complications associated with the platform.

Is EXMO safe?

EXMO has been around since 2013, offering unmatched crypto trading services to users from all over Europe. EXMO also takes numerous security measures to ensure the safety and security of its traders. So it would be entirely safe to say the platform is safe and secure.