DC Ex Review by professional crypto currency trading experts the “ForexSQ” FX trading team, Everything you need to know about the broker is in this DC-Ex Review.
DC-Ex is a peer to peer (P2P) exchange platform for e-currency and cryptocurrency. It offers a solid number of altcoins for spot trading, and also accepts US dollars.
As the company operates with “real money”, the client needs to get ID verification in order to start trading. Two-factor authentication is also in place. Check out our full review for more details.
Low trading fees, no charges on deposits
This exchange charges a flat fee of 0.15% per trade, which is a competitive pricing. We have covered other cryptocurrency platforms that apply fees of 0.3% or more. What is more, deposits to DC-Ex are free of charge, even those in fiat.
Fiat currencies accepted
DC-Ex accepts US dollars, although via payment methods which are not that popular outside Russia (Perfect Money, OKPAY, Advcash). More importantly, bank wire transfers and credit cards payments are not supported at this exchange.
Solid number of altcoins, alternative base coins
At DC-Ex users can trade in Bitcoin, Bitcoin Cash, Zencash, Litecoin, Dash, Dogecoin, Namecoin, PIVX, and other rather exotic altcoins. That being said, some very popular coins are not available on this platform.
Besides, trading at this exchange isn’t done solely against the US dollar, or BTC, but also against other cryptocurrencies, such as Bitcoin Cash, SACoin, and YashCoin.
Decent trading platform
The platform provided by DC-Ex leaves a good overall impression (the charting being the major exception).
No information about the company, storage of assets
This exchange which provide any information on the location from which they operate or the team behind the project. Even the company behind the DC-Ex brand is unknown.
Besides, the website of the exchange provides no information about the manner in which the clients’ assets are stored. Most exchanges keep the coins offline, in cold storage, for security reasons.
DC-Ex imposes withdrawal fees on both fiat and cryptocurrency transfers out of the exchange, which is not uncommon, yet leaves a bad impression. Only withdrawals in SACoin, YashCoin and PipCoin are not charged. No surprisingly, YashCoin/BTC and SACoin/BTC are the most actively traded pairs on DC-Ex (PipCoin is allegedly a Ponzi scheme).
No leverage available
DC-Ex does not offer margin trading. This is not a major disadvantage, as most exchanges don’t provide this service. Only a few, usually larger crypto exchanges like Kraken, Bitfinex and Quoinex, for example, offer leveraged trading. Yet, those of you looking to trade cryptocurrencies on margin can also do so with a forex broker.
Low trading volumes
Trading volumes at DC-Ex are very poor, with the exception of YashCoin/BTC and SACoin/BTC pairs, as mentioned above. This means low liquidity, making the assets susceptible to price manipulation by larger investors.
We have mentioned the fairly decent instrument list of DC-Ex. Strangely, however, it does not include some otherwise heavily traded coins, such as Ethereum, Ripple, EOS, NEO, Stellar, NEM. This is certainly disappointing to many crypto traders.
No wallet service
DC-Ex is a P2P marketplace for digital currencies. Trading on this platform is comparatively low-cost and one can find unpopular trading assets. Besides, fiat currencies are also accepted. What bothers us most with regards to DC-Ex is the lack of information regarding the entity that operates it, its headquarters, company background, etc.
Some of the forex broker we mentioned above offer a much safer environment for trading in Bitcoiun and other digital assets. Here is a list of the tightly regulated brokers, offering Bitcoin CFDs.
DC-Ex Review Conclusion
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