Mercatox

Read this Mercatox exchange review and learn whether is Mercatox safe or not. You can find fees, payment methods offered by the broker.
1.8/10 (Expert Score)
Product is rated as #66 in category Forex Brokers

Mercatox is a cryptocurrencies exchange that combines automated trading, payment service, peer-to-peer sharing based on smart contracts.

The trading process here deals mainly with crypts and their different types and form. Not all investors deal with cryptocurrencies as they might have some uncertainties and questioning regarding their formation of it, yet the traders who deal with cryptos seem to have fast and easy transaction processing, anytime anywhere.

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.

1.8Expert Score
Poor

I reviewed Mercatox based on the following criteria.

TRUST
1
COMMISSIONS AND FEES
1.5
CUSTOMER SERVICE
2
PLATFORM & TOOLS
2.5
PRODUCT PORTFOLIO
2
PROS
  • Many crypto coins offered
CONS
  • Unregulated exchange
  • Low trading volume and liquidity
  • Credit cards and bank wire not supported

About the Company

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.

The broker seeks to attract clients from all over the globe with a specialty in crypto trading and special features presented. Providing the website in different languages like English, Russian and Chinese, the broker allows trading with multiple types of cryptocurrencies.

Almost all countries from all over the world are allowed to trade with Mercatox including the USA, UK, Hungary, Netherlands, Spain, Portugal, Denmark, Greece, Finland, Italy, Ireland, Austria, Sweden, Croatia, and more.

The broker allows trading in crypto with different types of cryptocurrencies including:

  • Bitcoin (BTC)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • Ripple (XRP)
  • Ethereum (ETH)
  • Monero (XMR)
  • NEO (NEO)
  • VeChain (VET)
  • Dash (DASH)
  • Ethereum Classic (ETC)
  • Verge (XVG)
  • Cardano (ADA)

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?

Safety

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.

Since the broker is new and deals in cryptocurrencies too, meaning to get regulation in such baby stages is both rare and tough to be accomplished considering the strict rules applied by the regulators to be kept and maintained.

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.

Data Protection

Personal Data Protection

The security measures the broker is applying to maintain the safety of the information on the accounts aren’t disclosed perhaps due to confidentiality reasons. Mercatox separates the verified from the unverified accounts. owners of the unverified accounts can only make withdrawals to a specific limit using only bitcoin.

For example, if verified account holders can make 5 bitcoin per day, the unverified account holders can withdraw 0.5 bitcoin per day.

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.

Fees

How Much Are The Mercatox Fees?

Mercatox charges a 0.25% fee per trade to both its buyers and sellers. Which is quite reasonable considering that resembles the average in the market. There’s also 0.25% per transaction on the exchange, which makes the trading fees with Mercatox competitive and reasonable.

While there are no deposit fees, withdrawal fees apply and vary depending on the currency you wish to withdraw.

The withdrawal fees ranges from 0.0003BTC to 0.005BTC on BTC withdrawals. For the traders who pay less, the transactions might take some time to process within the range of few days. In which, as per the average of the market, the fees on the withdrawals applied by the broker of 0.0003BTC is below the average of the market which gives an advantage for the broker.

Yet, the broker here has a different fee for each cryptocurrency and so it can be confusing and uncomfortable to some trades dealing with different cryptocurrencies at once. for examples the fees over bitcoin is from 0.0003-0.002, and for Ethereum is 0.002, for Litecoin its 0.001, for Dogecoin is 2, and for Veritaseum is 0.01. The withdrawal charges are down to zero when dealing with Unify or Bitcoin Gold.

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 broker’s website.

Trading Instruments

Trading Instruments (Cryptocurrencies)

There are more than 350+ cryptocurrencies available for trading on their platform, including the company`s own token, Merca.

With over 200+ listed cryptocurrencies, the broker applies 0.25% as a transaction fee.

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).

There is a multicurrency wallet option for clients to trade in which is easy, quick, and safe. The wallet allows you to store the crypto coins that you’ve bought from the broker and hold them in the wallet until they’re sold.

The broker is offering as well the limit order service which can tell the clients, who have set up this service, about the maximum price of cryptocurrencies to buy or the lowest price to sell.

The stop order service is also offered by Mercatox which instantly transforms into a market order after reaching the current market price at a specified rate.

There is also a market order put in place where it represents the buy and sell orders implemented immediately at the present market prices.

You can gain money without crypto trading through margin lending service in which the broker lends you the funds and so you can trade and make profit.

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

Rewards and Bonuses

Mercatox Rewards and Bonuses

There are 2 types of reward programs offered by Mercatox which provide different privileges to the clients meeting the terms and conditions of each of them.

These Bonuses are:

Loyalty program: where you get that reward in the shape of discounts if you promoted the broker in certain ways like sharing the broker updates on social media, creating headings for the platform and materials- translating on bitcointalk.

You can get the discounts over the trading fees, voting rights, and so on.

The other type of reward offered is called the affiliate program where if you referred a partner or a friend to the platform you get a different level of rewards;

Personal invitation referrals (1st level): you can get a 15% commission from the transaction

2nd level referrals: 5% commission from the transaction.

Generally, the profit is calculated on the spot and the credit of the commission is added to the wallet automatically.

Deposit Tools

Mercatox Deposit Tools

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 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:

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

For business contacts:

  • info@mercatox.com, where here you can 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

Conclusion

In this Mercatox review, we discussed that Mercatox is a London-based exchange with a wide range of cryptocurrencies traded with reasonable trading fees. However, there’re a lot of concerns regarding the broker.

For starters, they don’t obtain any sort of regulation or license to carry out the operation and that raises a big red flag regarding the broker. The absence of a regulatory license raises the doubts about the authenticity of the broker and the safety of traders’ funds.

Deposits and withdrawals are done in several ways mainly using cryptos yet no options for credit or debit cards, bank wire transfers, or e-wallet funding.

Withdrawals are available with fees applied to them however the fees are quite reasonable and match the average of the market. Some reward options are set in place to reward clients who spread the word about the broker. These rewards are 2 types, the loyalty program, and the affiliate program which have 2 subdivisions inside that are 1st and 2nd level referrals.

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.

Customer service is set in place with different ways to get in touch. Its easy to open an account with the broker yet I’d advice to check regulated brokers first.

Valentin Cote

Valentin Cote

I am Valentin Cote, the author and owner of this personal blog. I compare and review forex brokers in my website. I am in the trading industry since 2009 and still learning. I also write useful articles for newbies about forex and investment. I love playing online games and Forex :)

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Who Am I?

Hello to everyone. Forexbrokerslab is my personal blog where I compare reliable forex brokers. I’ve been in forex trading since 2009 and I’m still learning. I have traded with the most popular forex brokers, including the most unknown ones in any regulation and many different account types. So I think I have enough knowledge to compare brokers. You can learn about forex brokers by reviewing my blog.

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