Many Mercatox reviews state that they are relatively slow in their response although very helpful. The lack of fiat options and higher withdrawal fees is also not doing them any good, and they need to keep up with their competition by introducing leveraged tokens. E-wallet transactions are processed immediately, but for cryptocurrencies, at least two confirmations must occur before the funds are credited to the account. Verification can help ensure real people are writing the reviews you read on Trustpilot.
Customer Support
While we cover a range of products, our comparison may not include every product or provider in the market. Always confirm important product information with the relevant provider and read the relevant disclosure documents and terms and conditions before making a decision. In general, the Mercatox user community is quite active in the comment section of the Mercatox Twitter account and it’s safe to say that most of them are loyal to the platform. There are almost no complaints, most of the reactions showcase a positive and trustful attitude. All in all, the loyalty reward program is designed to incentivize recommending the platform to more users.
Verification on the Mercatox Platform
Response time and working hours are also not stated, but as they are located in the UK, we feel it is safe to assume that the schedules will be based on the local time zone. Many reputable sites like FXempire, Coinintelligence, and Insidebitcoins have posts on them. Not to mention, the user feedback about them for the most part is also not that great, and there are many things about them you need to be aware of before opening any positions via their platform. They don’t go by your schedule & if you want full time or a certain day off they won’t give it. Plus one time my husband food had glass in it & they never gave us a free meal. He had the glass in his mouth & they didn’t do anything but say sorry.
Initially, Mercatox only offered trading via Bitcoin, but gradually started adding more digital currencies that suited its decentralized standards. It has now expanded its list to include more digital currencies like Litecoin, Ethereum, XRP, as well as many others that offer promise and suit its criteria. Every exchange has a unique dashboard and trading view and it is up to the use to really decide which one works best for them. However, you will find that most trading views are the same in certain this such as the visibility of the order book, price charts of selected cryptocurrencies as well as the order history. Generally, all views usually have buy and sell boxes as well. The Mercatox trading view is pretty much the same as the typical trading view, it is pretty simple and straightforward, very easy mercatox exchange reviews to navigate.
- There are two types of crypto exchanges in Canada — Centralized Exchanges and Decentralized Exchanges.
- It doesn’t necessarily mean that the platform is a scam.
- Another aspect that makes margin trading on Mercatox unusual is that leverage is taken from other traders, not from the platform.
- We may receive compensation from our partners for placement of their products or services.
Are there any limits on the amount you can deposit, buy or sell per transaction or per day? This question typically only applies to “crypto whales” or people who make transactions ranging from hundreds of thousands to millions of dollars. You might be able to raise your transaction limits by providing additional personal information as part of the exchange’s Know Your Customer (KYC) process. Most crypto exchanges charge a fee per transaction, which can be a flat fee, a percentage of the trade volume or a markup on the conversion rate applied to the transaction. Many users complain that they cannot get a satisfactory response from the support team of the exchange for months. Sometimes, the customer service doesn’t provide even a formal response to queries.
The point of this Mercatox review is to provide honest and transparent feedback of the platform. That being said, the platform is not regulated and does not comply with regulatory policies and trading standards. Even though Mercatox is based in the UK it is not regulated by FCA. Without regulation there is a higher risk of potentially losing your funds.
- If you want to use this platform, do so by only investing the bare minimum of money and testing them out.
- Compared to the big names in the sector, such as Binance, the customer support provided by this firm is not that great.
- Mercatox is convenient and advantageous platform for trade, exchange of various currencies, which can be used by both experienced…
- In markets with high liquidity, market orders usually get filled instantly.
Limits
However, users from around the globe can access the exchange, including those based in the United States. On Sitejabber, businesses may not offer incentives or pay to remove reviews. Mercatox charges a percent flat fee on all currency conversions which you will have to factor into your crypto trading. Mercatox allows you to trade around 481 digital currencies including BTC, ETH, DCN, BCH, NIO, TRX, DASH, COB, DOGE, PRIX and many more. If you are using Mercatox ‘s basic platform, you will not be able to find a schedule before you proceed to place a trade.
These orders get triggered only at the specified or better price. It happens when the market price doesn’t reach the price specified by the user or gets worse than this price. What’s good is that if such an order gets triggered it always gets triggered at the desired or better price.
BEWARE ON WITHDRAWAL POLICYS
A crypto exchange is a platform that lets you buy and sell cryptocurrencies, similar to buying and selling stocks on a stock exchange. Crypto exchanges are different to crypto brokers in that exchanges provide a place for buyers and sellers to transact with each other, while brokers transact directly with customers. Enabling 2-factor authentication is probably the most important step to protect the account from hacking. If one needs the opportunity to withdraw over 1 BTC per day, she/he should submit personal information to verify the account. The exchange allows users who have not verified their accounts to trade, deposit, and withdraw funds, too. There you can see the full list of supported cryptocurrencies with buttons Withdraw, Deposit, and Send.
Is Mercatox a Scam? Complete Review and Real Customer Feedback
2 years Aeternity token in maintenance.FRAUDSTERS DO NOT USE THIS EXCHANGE. DO NOT BUY INTO THE FAKE 5 STAR REVIEWS, STAY AWAY, SAVE YOUR MONEY. I posted a review on Mercatox 3 years ago registering my discussed as they put GRT token on a prolonged maintenance. Having invested £1,500 in grt I am absolutely outraged that three years later it is still under maintenance.
Best crypto platform for investment features: Bitget
Bert Kozma is a writer and Editor-in-Chief at Cryptogeek.info. Previously a sales and marketing expert, he has been an author covering cryptocurrency and financial markets for the last decade. He holds a bachelor’s degree in international business from Saimaa University of Applied Sciences. This is a good company as long as you don’t ask for your money back. They will keep coming up with all kinds of silly excuses for why you can’t take your money out.
Still, should one of the successful cryptocurrency exchanges Mercatox be defined as a scam? It’s better to take your time when making conclusions, as there are many tools and options available that can help traders make more profitable trades. Mercatox is an exchange for trading digital assets, which appeared on the financial market in 2015. In five years, the platform has actively developed, became quite popular among users around the world, and attracted more than 680,000 traders to the project. The service focuses specifically on the international market, and the interface of the official website is translated into the most popular languages among customers are English and Chinese.
What Do Mercatox Offer?
A single commission of 0.25% of the transaction amount is provided for both makers and takers. We update our data regularly, but information can change between updates. Confirm details with the provider you’re interested in before making a decision. One can directly contact the exchange to see the full list of supported countries. Tell me i won 0.25 BTC all i have to do is send them 0.02 to activate my account, huge red flag for a scam.
Beyond that, the next two features that matter most to Canadians are fee structure (22.18%) and ensuring that the crypto platform has a user friendly interface (18.68%). Is customer support available through email, phone and/or live chat? Customer reviews on sites like Trustpilot and the Better Business Bureau can give you an idea of how responsive an exchange is when issues arise.