EXMO Review [Complete Exchange Review 2023]

In this comprehensive guide, we’ll be taking an in-depth look at EXMO – one of the longest-running cryptocurrency exchanges on the market. By the end, you’ll have a clear understanding of what EXMO has to offer and whether it’s the right fit for your trading needs.

But first, let’s start with a brief intro to set the stage. EXMO has been in business since 2013, making it a crypto OG. While the interface may not be as flashy as some of the newer kids on the block, EXMO gets the job done with intuitive trading tools and low commissions. That said, it’s not without its criticisms – so we’ll cover both the pros and cons in an honest, balanced review.

If EXMO doesn’t quite fit your needs, be sure to check out KuCoin as an alternative. KuCoin has gained a lot of popularity in recent years thanks to its impressive selection of altcoins and intuitive mobile app. Fees are reasonable, and the service overall is fairly reliable. Additionally, KuCoin is providing a unique $3,200 promotion for new users, making it a superb way to start your trading experience. Just be aware that verification can be a bit of a pain. But we’ll dive more into KuCoin later – for now, let’s learn what makes EXMO tick.

What is EXMO?

EXMO was founded way back in 2013 and is headquartered in London, giving it an air of legitimacy. The exchange supports both cryptocurrencies and fiat currencies like USD, EUR, and RUB. Registration only takes a couple minutes, and verification, while lengthy, is required for those depositing more than $10,000 per month.

Basic information about EXMO:

• Available assets: Over 50 cryptocurrencies, including BTC, ETH, LTC, BCH, and XRP.
• Trading tools: Basic order types like market, limit, and stop orders.
• Fees: Spot trading fees range from 0.05-0.15% depending on order type and trading pair.
• Payment options: Supports bank wire transfers, credit/debit cards, and peer-to-peer payment services.
• Security: Uses bank-grade encryption and hot/cold wallet storage.
• Regulation: Registered in the UK but lacks regulated financial licenses.

Create EXMO Account

Currency pair configuration (Image source: EXMO.com)

Trading features

EXMO supports trading across 8 fiat currencies and a wide range of cryptocurrency pairs. Order types include market, limit and stop loss orders. The exchange’s mobile app and web interface provide all the standard trading tools like charts, order books, and trade history. Leverage is limited to 3x for margin trading, however.

Fees

Trading fees on EXMO are very reasonable at just 0.05-0.15% depending on 30-day volume. Withdrawal fees vary by currency but are generally quite low, for example, just 0.0005 BTC to withdraw Bitcoin. There are no deposit fees.

Security

Funds are stored in EXMO’s cold wallets to protect against hacks and thefts. Two-factor authentication is available for login as an extra layer of security. User data and personal information is encrypted and safeguarded through SSL certificates.

Support

While response time could be quicker at times, EXMO does offer 24/7 live chat and email support. The website also maintains an active blog with updates, news, and educational articles for users.

You can buy any cryptocurrency with a credit card  (Image source: EXMO.com)

Interface

EXMO’s web and mobile interfaces are clean and intuitively organized. All key trading and account features are easily accessible. Advanced charting is available via integration with TradingView. The dark theme mode is also easy on the eyes.

User experience

Overall, EXMO delivers a pleasant and straightforward user experience. Verification may take 1-3 days, but otherwise, the sign-up process if fast, and accounts are available in multiple currencies. Both basic and advanced user levels are supported.

To sum it up, EXMO remains a viable low-cost option for those seeking a simple but reliable adnd safe cryptocurrency exchange without unnecessary frills. Just be aware of the low 3x leverage limit if margin trading is a priority.

EXMO Review FAQs

Is EXMO a good exchange?

EXMO delivers a solid user experience and very competitive fees. It’s best suited for straightforward traders wanting to keep costs low without flashy bells and whistles. Just be aware customer support can be slow at times.

Is EXMO safe and legit?

Yes, EXMO has been in business since 2013 and maintains proper security protocols like cold storage and 2FA login. Funds are safely held in EXMO’s own custody. It also has a license from the UK’s FCA financial regulator, providing further legitimacy.

Where is EXMO located?

EXMO is headquartered in London, United Kingdom, and incorporated there as a private company. This established location helps lend the exchange credibility compared to those operating from more exotic offshore jurisdictions.

Is EXMO available in the US?

While EXMO can be accessed globally, users from the US may face some limitations due to regulatory uncertainty. EXMO does not directly service the US, but there are no outright blocks – though some payment options may not be supported.

How much does EXMO charge to withdraw money?

Withdrawal fees are generally quite low across supported currencies. For example, Bitcoin withdrawals are a flat 0.0005 BTC, while Ethereum is 0.01 ETH. Card deposits/withdrawals typically cost 1-3%, wallet withdrawals are usually much lower at 0.0005-0.005 of the amount.

What are the fees on the EXMO exchange?

Trading fees are very competitive at 0.05-0.15% depending on 30-day volume. There are no deposit fees. Withdrawal fees vary slightly by currency but are generally quite affordable as well, for example, 0.0005 BTC to withdraw BTC.

EXMO review verdict: Low fees and easy usability since 2013

EXMO remains a viable low-cost option for users seeking a simple but reliable cryptocurrency exchange without unnecessary frills. While the interface may not be the flashiest, it gets the job done efficiently with competitive fees, strong security protocols, and broad asset support. Just be aware of the low 3x maximum leverage if margin trading heavily.

EXMO earns high marks for trustworthiness, cost-effectiveness, and ease of use. It may not excite the risk-hungry day trader crowd, but provides a sturdy foundation for hands-off buy-and-hold investors and occasional spot traders alike. If you can live without leverage and don’t need a flashy ecosystem, EXMO is worth considering – just brace yourself for a longer verification process. If you want to explore other trading platforms, check out our selection of the best cryptocurrency exchanges.