IndoEx Review: Trusted Cryptocurrency Exchange You Should Try

October 21, 2023 - Around 8 mins mins to read

IndoEx is an advanced trading platform designed specifically for experienced traders and it gives them access to hundreds of altcoins. In this IndoEx review, we will introduce everything you should know about the IndoEx broker so that you can make an informed decision about using it for all your trading purposes.

About IndoEx

IndoEx Review: Trusted Cryptocurrency Exchange Should Try

IndoEx is an advanced trading platform designed specifically for experienced digital asset traders with a focus on altcoins. IndoEx was initially launched on January 16, 2019 and is based in Estonia as well as the UK.

IndoEx specializes in 9 specific areas of the cryptocurrency trading sector that it highlights. These include reasonable commissions, more than ten ways to deposit funds, multi-currency trading, secure wallets, 24/7 support, diversified operations, algorithmic trading, executive trading and low transaction fees.

In addition, IndoEx is fully mobile available, along with desktop devices, making all these tools available on the go through dedicated mobile apps on the Google Play Store and App Store.

The Indoex exchange is founded by Spencer Collins. The information about him available in the public domain is pretty scarce. The only exception is his Github page which lists two repositories written in Javascript. Not much is known about other team members, either. While that’s a normal case in the crypto community, such a lack of transparency makes it hard to estimate the team’s competence, as well as track their business reputation.

Pros and Cons

Pros Customer support is available 24/7 249 market pairs to choose from A secure crypto wallet 150 countries supported Solid indicator and other charting tools	Cons It can be overwhelming for newbies as it is heavily tailored for advanced traders Non-intuitive user interface takes time to understand

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Services and Features

Trading

IndoEx offers trades on over 180 cryptocurrencies as well as 249 market pairs for traders to choose from.

IndoEx allows traders to exchange and trade major digital assets like Bitcoin, Ethereum, Litecoin and Ripple with multiple fiat currencies on a single platform.

Its institutional trading engine is powerful, processing over 20 million trades per year and built to optimize trading speed and efficiency. Besides providing access to major and alternative digital assets and fast processing speeds, IndoEx also offers a secure crypto wallet and multi-currency transactions for added convenience. convenient.

However, the broker does not make any disclosures about minimum or maximum leverage anywhere on its website, making it impossible for us to provide accurate information about availability or lack of leverage. trap on the platform.

Deposits and Withdrawals

Deposit method

Bitcoin deposits have a minimum deposit amount of 0.0017 BTC, no fees and immediate effect.
Credit and debit card deposits have no minimums and no deposit limits, no fees, and speeds from 48 to 72 hours.
Bank transfer deposits have no limits and no exchange fees, but the bank may charge you a fee and it usually takes 2 to 3 business days to complete.

Withdrawal method

Bitcoin withdrawals have a minimum withdrawal size of 0.0013 BTC, no maximum limit and have a fee of 0.008 BTC and instant transaction speed.
Credit or debit card withdrawals have a minimum withdrawal limit of $75 and a maximum withdrawal limit of $200,000 for verified accounts only, as well as a $30 fee. In terms of processing time, it takes 2 to 3 days to complete.

Trade size and limit

As we go through the trade sizes at IndoEx, it is important to note that they start with a minimum trade of 0.001 lots, which is the smallest possible trade you can make. That said, there is no maximum trade limit and you are free to trade as much as you want.

Mobile application

Most crypto traders feel that the desktop offers the best conditions for their trading. Computers have larger screens and on larger screens more of the important information on which most traders base their trading decisions can be viewed at once. Trading charts will also be easier to display. However, not all crypto investors require a desktop for their trading. Some prefer to conduct cryptocurrency transactions via their mobile phones. If you are one of those traders, you will be happy to know that IndoEx’s trading platform is also mobile compatible. You can download it from/from both the AppStore and Google Play.

Gox Compliant API

IndoEx uses a Gox compliant API, which means it fully supports huge trading volumes as well as fast trading operations. The platform can efficiently build system packages through this API and generate website downloads and binary file uploads, all of which contribute to the complex algorithm that works in the exchange transaction.

Customer support

Besides having a 24/7 support team, there is also an email support method where you can submit platform-specific complaints, questions, and complaints. Then there’s Twitter support, where all recent announcements about the platform’s development are communicated to users. In addition, there is a Telegram channel where users can also receive development and upgrade updates, where users can meet each other and share ideas. There is also phone support where the team can be called directly.

KYC/AML and anonymity

As the absolute majority of centralized exchanges, Indoex features KYC (Know-Your-Customer) as required by law to prevent illicit activities done with cryptocurrencies. At this, users are required to submit their identification documents (a passport or a driving license), as well as utility bills as proof of address. However, Indoex does feature privacy coins and allows for their withdrawal, which means that the service can be used to gain crypto anonymity despite all the checks in place.

Insurance

IndoEx maintains commercial criminal insurance for sums greater than the value of all digital currencies it maintains in its online storage. Its insurance policy is offered through a combination of third party insurers and IndoEx itself, a co-insurer under the policy.

The policy guarantees against digital currency theft due to security breaches, hacking, employee theft, or fraudulent transfers.

Fee

Transaction fee

Every time you place an order, the exchange will charge you a transaction fee. The transaction fee is usually a percentage of the value of the trade order. At this exchange, they split between the receiver and the creator. The receiver is the person who “takes” an existing order from the order book.

IndoEx does not distinguish between recipients and creators, but charges for both at 0.15%. These fees are quite consistent, or even slightly below the global industry average.

Withdrawal fee

IndoEx charges a withdrawal fee of 0.0008 BTC for each BTC withdrawal. This fee is actually slightly higher than the global industry average. The current global industry average is around 0.0006 BTC per BTC withdrawal. On the date this review was last updated (August 7, 2020), the difference between IndoEx’s withdrawal fees and the global industry average was only $2.36, so it may not generate make a lot of difference for you.

Deposit method

IndoEx allows you to deposit assets to the exchange in a variety of ways, through wire transfers, debit cards and of course also by just depositing existing crypto assets.

Considered to be able to deposit fiat money at this trading platform, IndoEx qualifies as an “entry level exchange”, creating an exchange where new crypto investors can begin their journey. their entry into the exciting world of cryptocurrencies.

Frequently asked questions

Is IndoEx safe?

IndoEx secures its client’s digital currency through a combination of secure, online servers and offline (cold) storage. IndoEx maintains 98% or more of client digital currency in cold storage, with the remainder kept in secure online servers strictly for liquidity purposes.

Am I and my cryptocurrency protected?

Yes, IndoEx carries both third-party and co-insurer policies to guard against security, hacks, and thefts of client assets.

Is IndoEx regulated?

No, IndoEx is not regulated authority by any recognized financial in any country or territory at this time.

Do I have to verify my account with IndoEx?
While not mandatory, as with other similar exchanges, IndoEx will place withdrawal limits on all unverified accounts of $2,000 USD per day. Enhanced accounts with two-factor authentication enabled and verified can withdraw up to $200,000 USD at any time.

Conclusion – IndoEx Review

IndoEx is a digital currency exchange that offers an advanced trading platform designed for experienced traders. It specializes in altcoins, algorithms (via API) and performance, providing maximum processing speed for transactions. Some of IndoEx’s additional features include a “launcher” for initial coin offerings (ICOs), occasional trading contests, and a secure cold storage wallet. At the same time, the exchange offers a reasonable fixed maker/taker fee of 0.15% for each side. Transaction fees are also kept low, with free deposits and 0.008 BTC withdrawal fees.

However, IndoEx is not optimal for beginners as it is a cryptocurrency exchange platform specifically designed for advanced traders who aim to diversify their portfolio. It has a solid API, great performance, fast transaction processing speed, and is available on any device.

Remember that there is no single platform that meets the needs or needs of every trader out there, so doing your own research before choosing the right platform for you is essential. When you close a trade, make sure that you take all the necessary precautions to avoid any potential financial loss.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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