WEEX Exchange, a reputable cryptocurrency exchange registered in Singapore, is revolutionizing the world of digital asset trading with its focus on derivatives trading through a user-friendly desktop site and mobile trading app. Since WEEX’s inception in 2018, WEEX has been providing top-tier services to a diverse clientele from across the globe.
Derivatives Trading for Crypto Enthusiasts
At WEEX Exchange, derivatives trading takes center stage, offering traders the opportunity to speculate on the value of various cryptocurrencies. Leveraging the value of underlying assets such as stocks, bonds, and commodities, the platform facilitates a wide range of trading pairs, including BTC/USDT, ETH/USDT, LTC/USDT, TRX/USDT, DOGE/USDT, BCH/USDT, and ETC/USDT.
Security and User-Friendly Interface
At WEEX Exchange, security, and ease of use are paramount. While avoiding bombastic claims, WEEX takes pride in its commitment to providing one of the most secure and user-friendly futures trading platforms in the market. Traders can focus on their strategies and investments with confidence, knowing that their assets are protected.
Seamless Mobile Trading Support
Acknowledging the diverse preferences of crypto traders, WEEX Exchange caters to both desktop and mobile users. While desktop platforms offer in-depth analysis with larger screens, the mobile app caters to on-the-go traders who prefer the convenience of trading on their smartphones. The mobile app is available for both iOS and Android users, providing a seamless trading experience.
Flexible Deposit Methods
WEEX Exchange offers a “fiat on-ramp,” enabling users to purchase crypto derivatives with regular cash. While wire transfers are the main method of fiat currency payment, the exchange does not currently support credit or debit card deposits. As an entry-level exchange, WEEX welcomes all traders; however, newcomers to derivatives trading are advised to approach the market with caution due to its inherent risks.
The reason many exchanges do not allow US citizens to open accounts with them can be summarized in three letters: S, E, and C (the Securities and Exchange Commission). The SEC is the regulatory body in the United States responsible for overseeing securities and investment activities. Due to SEC regulations, foreign companies are generally not allowed to solicit US investors unless they are also registered with the SEC. If foreign companies attempt to solicit US investors without proper registration, the SEC can take legal action against them. Several crypto exchanges have faced legal action from the SEC, such as the case of EtherDelta being sued for operating an unregistered exchange and Bitfinex being sued in relation to the stablecoin Tether (USDT) for allegedly misleading investors. It is likely that more cases will follow.
According to information from WEEX Exchange provided to us here at Cryptowisser.com, the platform apparently allows US investors on its exchange. However, it is essential for all US investors to form their own opinion regarding how state and federal rules may impact their foreign trading activities.
Revolutionary Affiliate Program
WEEX Exchange offers a unique affiliate program that provides substantial returns to those who bring new traders to the platform. Affiliates can earn up to an impressive 90% commission on trading fees generated by their referrals. The affiliate program is accessible through both the desktop site and mobile app.
WEEX Exchange Trading View
Every trading platform features a trading view, which is an integral part of the exchange’s website. The trading view allows users to access the price chart of a specific cryptocurrency along with its current price. Additionally, most platforms provide buy and sell boxes where users can place orders for the relevant cryptocurrency. In the same view on your desktop, you can typically access the order history, which shows previous transactions involving the specific crypto. It’s worth noting that there might be variations in the layout and features of the trading view across different platforms.
WEEX Exchange Fees
The exchange charges you a trading fee every time you place an order. The trading fee is usually a percentage of the value of the trade order. Many exchanges divide fees between takers and makers. A taker fee is the one that matches an existing order from the order book, while makers are the ones who provide liquidity by adding orders to the order book.
According to the most comprehensive industry report ever prepared on futures trading average fees, the global average futures trading taker fee and maker fee were 0.0591% for takers and 0.0215% for makers. WEEX Exchange’s fees are quite close to the industry average, slightly higher for takers and slightly lower for makers.
Withdrawal fees are typically fixed and vary depending on the cryptocurrency being withdrawn. For example, if you withdraw BTC, you will be charged a small amount of BTC for the withdrawal. In a previous empirical study of BTC withdrawal fees in the crypto exchange market, the average BTC withdrawal fee was approximately 0.00053 BTC per BTC withdrawal. You can find the report here.
WEEX Exchange charges 0.0006 BTC per BTC withdrawal, which is only slightly above the global industry average and thus an acceptable fee.
About WEEX Exchange:
WEEX Exchange is a Singapore-based cryptocurrency exchange specializing in derivatives trading. Since 2018, the platform has been providing exceptional services to its global user base, fostering a secure and user-friendly trading environment.