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CEX.io Review

Name of Exchange
CEX.io
Current Price (USD)
$5,621.30
Fee Schedule
Rotate device for more
Deposit Method
Currency / Country
Fees
Bank Transfer / SEPA MIN$100 MAX (Day / Month)$10k / $100k
USD, EUR, RUBUSA, EU, RU, UK, CN, IN, AU, NZ
0%Up to 14 days
Credit Card MIN$20 MAX (Day / Month)$300 / $1000
USD, EUR, RUBWorldwide (a few countries excluded)
3.5% + $0.25Near Instantly
Withdrawal Method
Currency / Country
Fees
Visa MIN$20 MAX (Day / Month)$500
USD, EUR, RUBUSA, EU, RU
$3.80Up to 3 days
Mastercard MIN$50 MAX (Day / Month)$500
USD, EUR, RUBUSA, EU, RU
$3.80 + 1.2%Up to 3 days
Bank Transfer MIN$250 MAX (Day / Month)$10000
USD, EUR, RUBUSA, EU, RU
$50Up to 10 days
Crypto Capital MIN$100 MAX (Day / Month)$10000
USD, EUR, RUBUSA, EU, RU
1%Hours

Overview

  • Company Name: CEX.IO LTD
  • Headquarters: London, UK
  • Official Website: https://cex.io/
  • Established in: 2013

CEX.IO is a London-based bitcoin exchange platform founded in 2013. Originally the company actually was operating as the first cloud mining provider. Now it is a cryptocurrency exchange with more than a million active traders. The exchange actually offers two main services:

  • Buy and sell bitcoins
  • Bitcoin trading

This makes it an excellent all-in-one solution for those looking for a multifunctional platform for bitcoin.

Who Should Use CEX.IO?

Is CEX.IO the right platform for you? Consider using this site if you fall into one of the following categories:

  • You are looking for a quick and easy way to buy or sell bitcoin. On this website you can do it in a matter of just a few clicks.
  • You are looking for a bitcoin trading platform with low commissions ranging from 0% to 0.2%.
  • You want to get into auto-trading for bitcoin or other decentralized currencies (such as Ethereum). CEX.IO provides a few different API solutions for auto-trading, called REST API, WebSocket API, and FIX API.

Is CEX.IO Legit?

You can find all of the legal information on CEX.IO here. If you scroll down to the bottom, you can view the company’s trademark and certificate of incorporation. The company has also registered with the Financial Crimes Enforcement Network (FinCEN) at the Department of the Treasury in the US and the Information Commissioner’s Office (ICO) in the UK.

Further, CEX.IO has a PCI DSS certificate, which means that they can be trusted with the storage and transmission of your payment card data. They also follow KYC and anti money laundering policies and employ two-factor authentication through Google Authenticator to provide extra account security.

If you do your research, you will also discover quickly that CEX.IO is a very well-known company with a strong reputation. Consider for example that in 2014, the Gash.io mining pool of CEX.IO was responsible for contributing more than 42% of all bitcoin mining power globally.

So can CEX.IO be trusted? It appears to us as a yes but there are comments and ratings at the bottom of this view with a very different opinion. Whether all of those ratings and comments can be trusted is up to you.

This is a solid company which is trusted by a massive user base, and which has taken the proper steps to ensure the security of customer data and financial information.

Full CEX.IO Review – Facts, Details, and What You Should Know

Now that you know a bit more about CEX.IO, let’s take an in-depth look at what this bitcoin exchange has to offer.

How to Buy and Sell Bitcoin at CEX.IO

Buy bitcoin directly from CEX.

Buying bitcoin is extremely fast and easy on this website. Start by opening an account and verifying it, and then deposit funds. You can choose from USD, EUR, GBP, or RUB.

Then, head to the Buy/Sell page. Here you will see an extremely simple platform for purchasing and selling bitcoin.

To buy, just click on the “Buy” tab. On the left, you will see BTC (bitcoin) and ETH (Ethereum). On the right, you will see USD, EUR, GBP, and RUB.

Select the cryptocurrency you want on the left, for example BTC. Then select the currency you want to pay in on the right, for example USD. You will then see an assortment of offers available to you, for example, “Get 0.0376 BTC for $100.” Every so often, the page will be refreshed and the offers will be recalculated. Prices are based on Fill-or-Kill (FOK) orders.

If you prefer, you also have the option to enter in an amount and a price in the custom input field below. You can then hit “Buy.”

Selling works the same basic way. Click on the “Sell” tab, and you will again see cryptocurrencies on the left and regular currencies on the right. Let’s say that you have BTC to sell and you want to convert to USD. Select BTC and USD and a number of offers will be displayed. You can select one or enter in a custom amount. Hit “Sell” and you will sell your bitcoins and receive US dollars in return for them.

Account Levels


While you are on the page for payment methods, you will notice that there are four different account tiers on CEX.IO:

  • Basic: This is a tier which allows you to buy and sell bitcoins using a credit or debit card. As you already know, the limits are low.
  • Verified: This is the tier you move up to once you submit your paperwork to verify your identity. This extends your limits as previously discussed and also expands the payment options available to you.
  • Verified Plus: At this tier, you can receive extended limits, higher turnover and priority support. This account is available upon request once you are verified.
  • Corporate: This account is designed for enterprise users and allows you to “enjoy custom conditions.” Once again, you need to verify your identity and then make your request.

Countries Accepted and Blocked

CEX.IO serves customers around the globe, but there are some notable restrictions for withdrawals for different methods.

  • Countries restricted for credit card payments: Iceland, North Korea, Iran, Syria, Vietnam.
  • Countries restricted for bank transfer payments: Afghanistan, Democratic Republic of the Congo, Côte d’Ivoire, Eritrea, Ethiopia, Guinea-Bissau, Haiti, Iran, Iraq, Kenya, Liberia, Libya, Guinea, São Tomé and Príncipe, Somalia, Sudan, Syria, Tanzania, Tunisia, Turkey, Vietnam, Yemen, Zimbabwe, Nigeria.
  • Countries restricted for CryptoCapital payments: Afghanistan, Democratic Republic of the Congo, Côte d’Ivoire, Eritrea, Ethiopia, Guinea-Bissau, Haiti, Iran, Iraq, Kenya, Liberia, Libya, Guinea, São Tomé and Príncipe, Somalia, Sudan, Syria, Tanzania, Tunisia, Turkey, Vietnam, Yemen, Zimbabwe, Nigeria.

There are also some additional requirements for users in certain countries. For example, USA customers are allowed to use CEX.IO, but they do have to complete full identity verification before depositing or withdrawing.

Needless to say, if you are located in one of the restricted countries and there is no payment method available to you, you will not be able to make use of CEX.IO. So long as at least one acceptable payment method is offered to you, you can trade and buy and sell bitcoin on this website.

What Can You Trade?

The following pairs are available to trade on CEX.IO:

  • BTC/USD
  • BTC/EUR
  • BTC/GBP
  • BTC/RUB
  • ETH/BTC
  • ETH/USD
  • ETH/EUR
  • GHS/BTC

What Types of Trading Are Available?

Use the trade feature to buy and sell bitcoin on the exchange.

There are three ways to trade the pairs listed above on the CEX.IO platform.

  • Place a limit order: If you are familiar with Forex, this is just like a FX limit order. You specify an amount and a price and wait for your order to be executed.
  • Place a market order: This is just like a market order in Forex. It is the “buy now” or “sell now” option.
  • Trade on margin: This is like margin trading in Forex as well. When you trade on margin, you are able to control a larger amount of money than you actually possess, which in turn allows you to pull in bigger profits than you could normally. The catch is of course that you could feasibly end up losing all your money. On the plus side, this company has a risk-preventing system which guarantees that you will never have a negative value in your account as a result of trading on margin. USA traders may not trade on margin.

User Interface

The interface for CEX.IO is extremely simple and straightforward. You already know how Buy/Sell works. The trading interface is just as clear-cut. Across the top, you will find the different pairs. Select one, and scroll down to take a look at a chart of the pair’s recent performance.

If you click on the “Chart” button, this gives you a chart in a separate window which is more detailed and which allows you to draw trend lines and indicators.

Detailed trading chart with tools and drawing abilities.

Returning to the platform, you can view market depth below the simple chart. Scroll past that and you can select Limit, Market, or Margin trading. The trading tickets are right below those tabs. Underneath those, you can view Buy and Sell Orders, Active Orders, and your Trade History.

If you have any background with Forex, all of this will be incredibly easy for you to pick up. If you do not, you should still find it pretty intuitive, and there are plenty of comprehensive articles on the CEX.IO website to help you learn the ropes. There is a mobile app available if you want to trade on the go.

Security

I have actually already talked a bit about security at CEX.IO. Just to review, here is what this company does to ensure that your data remains private:

  • You are given the opportunity to select Two-Factor Authentication (2FA) to use with your account.
  • CEX.IO is registered with the ICO in the UK, which means that they comply with the ICO’s strict rules regarding data privacy protection.
  • The company also has a Level 3 PCI DSS (PCI Data Security Standard) certificate. Cardholder data is always encrypted.
  • When you submit your photos to verify your identity, those are encrypted using separate encryption keys as well.

 

Customer Support

Customer support is one area where CEX.IO looks a bit lacking, at least in terms of contact methods.

There is no phone number to call and no live chat.

You can only get support via email or web form. Thankfully the articles and FAQ on the website are very thorough and answer most common questions.

Pros & Cons

Established reputation
Deposit / Withdraw fiat
Stop loss trades are guaranteed
Never wind up negative with margin trading
No customer service phone number
No margin trading for USA residents

Verification

Types of Verification

Government ID, Selfie, Email, Phone

Verification Process

As just mentioned, CEX.IO follows Know Your Customer (KYC) and Anti Money Laundering (AML) regulations. This does mean that you are not 100% anonymous when using CEX.IO. Law enforcement agencies can access information about you (as well as other users). This is now par the course with legitimate bitcoin exchanges.

This means that you will have to verify your identity if you want to conduct certain transactions, such as withdrawing fiat funds or increasing payment limits.

Here are the documents you will need to provide:

  • Information from a passport, ID card, or driver’s license
  • Basic personal information
  • Residential and permanent addresses
  • Document scans
  • A selfie with an identity document
  • Proof of residency

Once you have provided this information and documentation, your account status will be upgraded to verified, and then you will be able to use the full suite of features available on CEX.IO.

Limits & Liquidity

According to bitcoinity, CEX.io is the 9th ranked exchange in terms of their efforts to track actual open orders across all exchanges.

There is somewhere between 27,000 BTC traded per month at the time of this review. For comparison, the largest exchange, Bitfinex is somewhere around 650,000 btc exchanged every 30 days.

You can find good liquidity to trade EUR, USD and RUB for BTC.

Deposit Limits

Fee’s for deposits / withdrawals

Withdrawal Process

How Can You Withdraw From CEX.IO?

If you have a Basic account, you can buy and sell bitcoins with a daily withdrawal limit of $500, or a monthly withdrawal limit of $2,000.

If you verify your account, you can boost those limits significantly. The daily withdrawal limit becomes $10,000 and the monthly withdrawal limit becomes $100,000.

That being said, each of the payment and withdrawal methods offered by CEX.IO has different limitations, which you should view here.

Screenshots

Frequently Asked Questions

What ID requirements does CEX require?
It depends on your level of verification. If you are from the USA you are required to verify your identity to buy any bitcoin.

Anything Else Noteworthy About CEX.IO?

Some of the best features of CEX.IO are found in the finer nuances of how trading operates. For example, you already know that the company guarantees you will never wind up with a negative balance from margin trading. There are some other nice features as well. Your stop loss is guaranteed as well, and the rollover fee is charged only under specific circumstances.

Final Thoughts on CEX.IO

CEX is a quality and simple all-in-one solution for buying, selling and trading Bitcoin and Ethereum. While there are some minor drawbacks (like the lack of a customer service telephone number), this website is well-established, popular and reputable. They offer a streamlined user interface, plenty of liquidity and an array of great features for easy bitcoin transactions.

Name of Exchange
CEX.io
Current Price (USD)
$5,621.30

13
User Comments

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Cameron NicollJoëlBranBico PaulRomeo Recent comment authors
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CyborgX
Guest
CyborgX

CEX.IO solicits investor deposits to be sent to its bank account OUTSIDE of the UK. When the funds are received into their account, they refuse to credit the user’s Exchange account, and make continued and varied excuses for why the funds are being held. They then make excuses such as Slow Bank processes, stating fictional deadlines which all eventually pass, and still the funds are held in their bank account. Requests from the sending banks are refused by the receiving bank with the response that multiple requests for authorization from CEX.IO were refused. CEX.IO continue with the deception, asserting they… Read more »

CyborgX
Guest
CyborgX

I PERSONALLY have had US$1000 Stolen by this company who STILL refuse to return it or even credit it to their fake exchange!!!!! They even confirmed receipt, but their bank say they REFUSE to release the money back! READ THE 1000’s of similar stories all over the Internet! Do the community a favor, take down this ridiculous article that just assists these thieves to scam even more people, and do some REAL Investigative Journalism and see how this company REALY operates! They are Registered in the UK, but it’s just an address, no actual staff working there, no phone number!!!!… Read more »

Boris
Guest
Boris

if you have find their office in Uraine i will try to visit them here.
I have reported to the UK police already, but we need more activity agains this scammers.

jennifer
Guest
jennifer

Hi, I am have been having problems with CEX also & they are very insulting. They have no problems taking money out of my credit card & bank card, but they have a fuc%!ng excuse every time when I ask them to withdraw. Then I asked them why can’t I send my bitcoin to a different wallet they don’t even answer the question like I didn’t ask it!! The keep claiming it’s the Bank, Violation of law but when I call my bank they say everything is fine. I will be filing a report to the police also to have… Read more »

f u k cex.io
Guest
f u k cex.io

stole $1200 USD deposited to poland

cex_are_scammers
Guest
cex_are_scammers

cex is a SCAM.

I deposited 800€ over two weeks ago and my money is nowhere to be seen.

There is no customer support. Nobody answer my tickets.

Money stolen by cex.

They pretend to be an exchange but they are thieves.

Tobias
Guest
Tobias

I’m waiting for my 2 withdrawals 2017-12-09 10:14:21 2017-12-12 16:38:42 5159882425 Withdrawal USD -29095.46 USD Bank transfer Sent Your withdrawal has been sent. Please allow some time for funds to arrive at your bank account. 2017-12-08 09:35:51 2017-12-12 16:27:54 5151658759 Withdrawal USD -15016.26 USD Bank transfer Sent Your withdrawal has been sent. Please allow some time for funds to arrive at your bank account. CEX did not send money but told “your money has been sent”? What the f*ck is this? up107139385

Romeo
Guest
Romeo

cex.io is a scam site… been over a month not able to withdrawal.. very quick in taking the money but time to withdrawals you get stupid stupid ridiculous email excuses to why its not possible to withdrawal… i have sent them over 10 emails for them to fix the issue and release the funds… but always getting the same emails… please anyone who reads this please don’t put your money there… they are scammers with will steal your money, plus the site is very buggy. I fucking hate these people… stupid idiotic fools… stay away from the site or else… Read more »

Bico Paul
Guest
Bico Paul

I’ve been fraud with may payment of 4000USD to CEX.IO from 2 months! You can report this here: http://actionfraud.police.uk/report-fraud-about-you Please select “Fraud to do with a financial investment, e.g. purchasing stocks or shares, a mortgage or an investment scheme “. You may also want to consult the Financial Conduct Authority about any financial or investment matters. You can call them on 0800 111 6768 or contact them on their web site which is https://www.fca.org.uk/ Go ahead with you fraud application, take 15 mins, you just need to imput your name, email, amount of payment, payment reference number and CEX.IO LTD… Read more »

Bran
Guest
Bran

Thieves. SCAMMER. False article. Reported to police!

Joël
Guest
Joël

They are Thieves!! Stole 25’000 from my account! Hope they are getting caught soon!

Cameron Nicoll
Guest
Cameron Nicoll

STAY AWAY from these crooks.
I have been trying to withdraw just $100usd for 6 months and the transaction is always rejected.
SIX MONTHS guys. It is painful even thinking about these a**holes now
Do yourself a favour and use someone with better reviews

User Ratings

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Total: 14 Average: 2.6