Omicrex Review by professional crypto currency trading experts the “ForexSQ” FX trading team, Everything you need to know about the broker is in this Omicrex Review.
*Omicrex has a tiered fee structure, depending on the client’s deposit and trading volume in the last 20 days. For market takers it can go as low as 0.1% and for market markers – to 0%.
Omicrex (Omicron Crypto Markets) is a new cryptocurrency exchange that launched in the beginning of 2018. It is located in Greece. The exchange allows trading in cryptocurrencies for fiat currencies (EUR, GBP and USD) and cryptocurrencies for cryptocurrencies.
– Fiat. Omicrex allows exchanging of cryptocurrencies for fiat currencies and the other way around, which is becoming increasingly common, considering the high interest of the general public in making a quick buck from the crypto boom.
– Fiat deposits. Omicrex says it accepts deposits through the major brands of credit cards and bank wire. The platform creators also plan to add deposits and withdrawals through China Union Pay and Neteller. For now withdrawals are only available through a bank account.
– Cryptocurrencies. Omicrex has a decent portfolio of cryptocurrencies on offer: BTC, BCH, ETH, LTC, EMC, UST, EOS, IOTA, XMR, NEO, XRP, ETC, with plans to offer more in the future. Some are only available for trading against BTC, but when there is enough liquidity, the exchange is enabling trading for fiat. Usually most exchanges who offer trading of cryptos for fiat have a relatively limited set of coins on offer.
– Platform. Unlike many of its peers who only offer a simple buy and sell template, Omicrex has a proper trading platform, with all the needed tools for more advanced trading, if need be.
– Order types. Omicrex supports several types of orders: Limit orders, Market orders, Stop orders, Stop-Limit orders, Trailing Stop orders, Fill or Kill orders, One Cancels Other orders, Hidden orders and Post Only Limit orders.
– Accounts. Omicrex has two types of accounts: personal and corporate. Clients can also have multiple accounts (within reason).
– Wallet. In its FAQ section Omicrex says it offers an e-wallet for its clients. It can be used to store cryptocurrencies, even if the user does not trade.
– Security. Omicrex says it has cyber security experts to keep the website secure from DDos and hack attempts and uses 2FA systems for authentication. The client funds are kept mostly in cold storage, which is fairly secure.
– Minimum Deposit. Omicrex has set a minimum deposit requirement of USD or EUR 50. It is not much, but is a requirement nevertheless.
– Anonymity. Omicrex is AML/KYC compliant and requires its client to identify themselves with an ID document and a proof of address (POA) (for individual accounts) and corporate documents and information on each of the directors accompanied by proof of identity and POA for each of the directors.
– Leverage. Omicrex does not offer leveraged trading, similarly to most cryptocurrency exchanges. For most crypto enthusiast this is not a huge disadvantage. Those who are willing to engage in speculative trading, but do not need to own the coins, can sign up with a regulated forex broker (if they haven’t done so yet) and trade in CFDs with cryptocurrencies as an underlying asset.
– Regulation. Like most cryptocurrency exchanges, Omicrex is not regulated either, so dealing with it can be somewhat risky. On the other hand, however, most countries have not put in place regulatory requirements for cryptocurrency exchanges yet.
– Countries. Omicrex does not accept clients from Afghanistan, Bosnia and Herzegovina, Burundi, Democratic Republic of the Congo, Côte d’Ivoire, Crimea, Cuba, Eritrea, Ethiopia, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Kenya, North Korea, Laos, Lebanon, Liberia, Libya, Nigeria, São Tomé and Príncipe, Somalia, South Sudan, Sudan, Syria, Tanzania, Tunisia, United States, Uganda, Ukraine, Venezuela, Vietnam, Vanuatu, Yemen, Zimbabwe. The residents of most of those countries would hardly engage in cryptocurrency trading, and many of them are subject to various international sanctions.
Being quite new, Omicrex did not have enough time to gain reputation or many clients. At first sight, however, it seems that the people behind it are striving to provide convenient and reliable service with fair conditions and attract customers.
Omicrex Review Conclusion
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