WEEX Exchange, a reputable Singapore-based cryptocurrency exchange, is revolutionizing the world of digital asset trading with its focus on derivatives trading through an easy-to-use desktop site and mobile trading app. Since WEEX was founded in 2018, WEEX has provided world-class services to a diverse clientele from around the world.
Derivatives trading for crypto enthusiasts
Derivatives trading takes center stage on the WEEX Exchange, offering traders the opportunity to speculate on the value of various cryptocurrencies. The platform leverages the value of underlying assets such as stocks, bonds, and commodities, and enables a wide range of trading pairs including BTC/USDT, ETH/USDT, LTC/USDT, TRX/USDT, DOGE/USDT, BCH/USDT, and ETC/USDT.
Security and user-friendly interface
At WEEX Exchange, security and user-friendliness come first. Avoiding grandiose claims, WEEX prides itself on its commitment to providing one of the safest and most user-friendly futures trading platforms on the market. Traders can focus on their strategies and investments with peace of mind knowing their assets are protected.
Seamless mobile trading support
WEEX Exchange takes into account the different preferences of crypto traders and caters to both desktop and mobile users. While desktop platforms offer in-depth analysis on larger screens, the mobile app is aimed at traders who are on the go and prefer the convenience of trading on their smartphone. The mobile app is available for both iOS and Android users and offers a seamless trading experience.
Flexible deposit methods
WEEX Exchange offers a “Fiat-On-Ramp” that allows users to buy crypto derivatives with regular cash. While bank transfers are the primary payment method in fiat currency, the exchange does not currently support credit or debit card deposits. As an entry-level exchange, WEEX welcomes all traders; However, newcomers to derivatives trading are advised to approach the market with caution due to the inherent risks.
The reason why many exchanges do not allow US citizens to open accounts with them can be summed up in three letters: S, E and C (the Securities and Exchange Commission). The SEC is the regulatory agency in the United States responsible for overseeing securities and investment activities. Due to SEC regulations, foreign companies are generally not allowed to solicit US investors unless they are also registered with the SEC. When foreign companies attempt to attract US investors without proper registration, the SEC can take legal action against them. Several crypto exchanges have faced legal action from the SEC, including EtherDelta, which was sued for operating an unregistered exchange, and Bitfinex, which was sued in connection with stablecoin Tether (USDT) for allegedly misleading investors. It is likely that more cases will follow.
According to information from WEEX Exchange provided to us here at Cryptowisser.com, the platform appears to be allowing US investors on its exchange. However, it is important for all US investors to form their own opinions about how state and federal regulations may affect their foreign trade activities.
Revolutionary affiliate program
WEEX Exchange offers a unique affiliate program that brings significant profits to those who bring new traders to the platform. Affiliates can earn up to an impressive 90% commission on trading fees generated by their referrals. The affiliate program can be accessed through both the desktop site and the mobile app.
Trading view of the WEEX exchange
Each trading platform has a trading view that is an integral part of the exchange’s website. Trading View allows users to access the price chart of a specific cryptocurrency along with its current price. In addition, most platforms offer buy and sell boxes where users can place orders for the corresponding cryptocurrency. In the same view on your desktop, you can usually access the order history, which shows previous transactions with the respective cryptocurrency. It should be noted that there may be differences in the layout and features of the trading view on different platforms.
WEEX Exchange Fees
The exchange charges you a trading fee every time you place an order. The trading fee is usually a percentage of the value of the trade order. Many exchanges split fees between buyers and manufacturers. A taker fee corresponds to an existing order from the order book, while makers are those who provide liquidity by adding orders to the order book.
According to the most comprehensive industry report ever on average futures trading fees, the global average taker and maker fees for futures trading were 0.0591% for takers and 0.0215% for makers. WEEX Exchange fees are fairly close to the industry average, slightly higher for buyers and slightly lower for manufacturers.
Withdrawal fees are usually fixed and vary depending on the cryptocurrency being withdrawn. For example, if you withdraw BTC, you will be charged a small amount of BTC for the withdrawal. In a previous empirical study on BTC withdrawal fees in the crypto exchange market, the average BTC withdrawal fee was around 0.00053 BTC per BTC withdrawal. The report can be found here.
WEEX Exchange charges 0.0006 BTC per BTC withdrawal, which is only slightly above the global industry average, making it an acceptable fee.
About WEEX Exchange:
WEEX Exchange is a Singapore-based cryptocurrency exchange specializing in derivatives trading. Since 2018, the platform has provided exceptional services to its global user base and promotes a safe and user-friendly trading environment.