C PatEx Review by professional crypto currency trading experts the “ForexSQ” FX trading team, Everything you need to know about the broker is in this C-PatEx Review.
C-PatEx is a digital asset platform, based in Argentina. It offers low-cost trading in quite a lot cryptocurrencies, in addition to the local fiat currency, ARS.
In order to use C-PatEx, crypto-traders need to verify their e-mail address. To withdraw, they must verified their identity either by Two Factor Authentication (2FA) or a code sent via SMS. Identity verification via ID card and other legal documentation is required only for users who trade with ARS (Argentinian Pesos).
C-PatEx also offers trading in its own shares, PATS (C-Patex shares), 50 000 of which have been released on December 1, 2017. Shareholders are paid monthly dividents in BTC.
C-PatEx charges Both Market Takers And Market Makers with a fee of 0.15% per trade, which is comparatively low amount. By comparison, CryptoMarket, a South American Ethereum exchange, charges up to to 0.70% per trade.
Furthermore, C-PatEx does not charge deposits, only withdrawals out of the exchange.
Solid number of altcoins
Another major advantage of C-PatEx is the fact that it offers solid number of altcoins. Currently, there are more than 30 pairs available for trade on this exchange. In addition to the popular Bitcoin, Bitcoin Gold, Bitcoin Cash, Litecoin, Dash, Dogecoin, the exchange has listed some exotic coins such as Blakecoin, HTMLCOIN, and others.
As you have probably noticed, however, some major coins are not available for trade at C-PatEx. Read the details below in the Disadvantages section.
Works with fiat (ARS)
Apart from the decent coin offering, C-PatEx works with Argentinian Pesos (ARS). This makes the services offered by this exchange more accessible to local novice traders. Keep ion mind, however, that all clients of C-PatEx can trade ARS, but only citizens of Argentina are able to deposit and withdraw Argentinian Pesos.
Enjoyable trading platform
The web-based trading platform provided by C-PatEx is nicely arranged and has a functional order book, charting with many time frames and some technical analysis indicators, as well as news section.
As you can see, trading is not done solely against BTC or ARS. You may also trade against Bitcoin Cas, Litecoin, Dogecoin and Blakecoin.
Leverage not available
Like most similar platforms, C-PatEx does not provide trading on margin. In case you are looking to trade Bitcoin speculatively, some of the forex brokers which provide cryptocurrency CFDs, like IG, may be a nice alternative.
We must note, trading with such a company involves dealing in the so called Contracts for Difference (or CFDs), which only mimic the price of the underlying crypto. There are a few more specifics, which we have explained here.
No Ripple, Ethereum and ERC-20 tokens available
As we mentioned briefly above, although there are a number of altcoins available for trade at this exchange, some very popular digital assets are missing. Some traders would probably be disappointed that C-PatEx has not listed Ripple, Ethereum, nor any ERC-20 token.
Focus on Argentina
The only fiat supported by this exchange is Argentinian peso. Besides, solely citizens of Argentina are able to deposit or withdraw in ARS.
Low liquidity on most pairs
It looks like trading volumes all pairs at C-PatEx, except LTC/BTC, are quite poor. Low liquidity of assets means that they can be easily manipulated.
One of the main selling points of this exchange is the fact that offers a decent amount of altcoins for trade, and also supports trading against ARS. Its platform also seems nice and perfectly functional. What bothers us with C-PatEx is the low liquidity, as well as the fact that withdrawal fees and minimum amounts are not specified. Other than that, its trading fees are low and it does not charge fees on deposits.
C-PatEx is a a relatively small exchange, launched and operated by a family team from Patagonia, Argentina. Behind the brand is the company MAG Sistemas, founded and managed by Miguel Angel Grau. The website, on the other hand, is based on the open source project Peatio (with some improvements). As a whole, C-PatEx seems like a credible company.
Yet, we feel the need to reiterate the inherent risks of the cryptocurrency space. Most of the crypto-exchanges worldwide, C-PatEx included. are not licensed, nor monitored by any authority. In case you prefer investing with a regulated firm, forex broker might be a safer alternative.
C-PatEx Review Conclusion
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