mercatox review

Regulators:

Cryptocurrencies: YES

Minimum Deposit: –

Maximum Leverage: –

Spreads: –

My Score: 1.8

Hello again everyone! Welcome to my Mercatox review! Mercatox is a cryptocurrencies exchange that combines automated trading, payment service, peer-to-peer sharing based on smart contracts.

According to the website of Mercatox, it is planning to provide not just a service with different abilities, but create a new financial market in the digital world.

What is Mercatox?

Mercatox is a modern service for accessing e-currency and cryptocurrency exchange markets. Mercatox is a convenient and advantageous platform for trade, exchange of various currencies, which can be used by both experienced traders as well as beginners.

In this Mercatox review, you will get the answers to these questions. What is Mercatox? What are the Mercatox fees? Is Mercatox safe? What are the Mercatox withdrawal limits? Which cryptocurrencies are available in Mercatox?

Is Mercatox Safe?

The exchange is launched in 2016 and the company behind it is Mercatox Limited. The firm operating the site and the brand is headquartered in London, UK. It is not regulated by the Financial Conduct Authority (FCA), nor by any other regulator.

However, the UK financial watchdog did not provide a definite regulation for the crypto-exchanges. This is currently the most common case of cryptocurrency exchanges worldwide. However, investors should also be aware that there are many blockchain themed fraud schemes.

There is another option to trade in cryptocurrencies. It is to do this with Bitcoin forex brokers.

Personal Data Protection

They take security measures to help safeguard your personal information from unauthorized access and disclosure. However, no system can be completely secure. Therefore, although they take steps to secure your information, they do not promise, and you should not expect, that your personal information, chats, or other communications will always remain secure.

Clients should also take care with how they handle and disclose their personal information and should avoid sending personal information through insecure email.

They execute granted personal data security and protection according to generally accepted practice data protection in the Internet community.

How Much Are The Mercatox Fees?

Mercatox charges a 0.25% fee per trade to both its buyers and sellers. While there are no deposit fees, withdrawal fees apply and vary depending on the currency you wish to withdraw.

The withdrawal fees, minimum deposit amounts and the minimum withdrawal amounts of some most popular cryptocurrencies are shown in the table below, but you can find the full list of fees for all currencies on the Mercatox website.

Trading Instruments (Cryptocurrencies)

There are more than 100 cryptocurrencies available for trading on the Mercatox platform, including the company`s own token, Merca.

According to the website of the exchange, you can trade on the exchange using the most popular currencies: Bitcoin, Litecoin, Ethereum, Payeer, PerfectMoney, OkPay, Ya.Money, Dogecoin, Dash (more to be added).

You can buy, sell, exchange and also lend these coins. But, Mercatox does not support automatic convert feature.

Accepted Deposit Methods

Mercatox accepts deposits in the following cryptocurrencies:

  • BTC
  • DOGE
  • DASH
  • ETH
  • LTC

You can also deposit US dollars (USD), euros (EUR) or Russian rubles (RUB) using one or more of the following electronic payment methods:

  • OKPAY
  • Payeer
  • Perfect Money
  • Qiwi
  • Yandex Money

Unfortunately, the company does not offer bank wire transfer and credit cards options.

Customer support

Mercatox’s website supports three languages including English, Russian, and Chinese. The website is well-designed and it is easy to find information on pages.

The official contacts:

Support center:

https://support.mercatox.com/

[email protected]

(Contact for any user’s questions, issues such as missing deposits, technical issues, lost access etc.)

For business contacts:

[email protected]

(Contact for any official requests, business suggestions, listings, swaps, airdrops, promos etc.)

Official news channels:

Twitter:      https://twitter.com/MercatoxCom

Facebook:  https://www.facebook.com/mercatoxcom/

Telegram:  https://t.me/mercatox_official

You should be aware, that all its social media accounts are only news channels, it never uses it for communication.

Conclusion

Mercatox is a London based exchange with a wide range of cryptocurrencies traded with reasonable trading fees. However, there some issues about it.

It supports fiat currencies such as USD, Rubies, and Euro. It offers margin trading. It has a user-friendly interface. But, it doesn’t have a mobile trading application, has low trading volumes as well as liquidity. Also, it does not support bank wire transfer and credit cards payment options.

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Mercatox

1.8

Trust

1.0/10

Commissions and fees

1.5/10

Customer Service

2.0/10

Platform & Tools

2.5/10

Product Portfolio

2.0/10

Pros

  • Many crypto coins offered

Cons

  • Unregulated exchange
  • Low trading volume and liquidity
  • Credit cards and bank wire not supported