Review on Hopex by Samantha Beatrice
My first Derivatives exchange
Hopex exchange was launched in 2018. It is an African Cryptocurrencies exchange, it is a derivatives exchange that trades almost any type of cryptocurrencies. Derivatives happens to be a financial contracts whose value is linked to the value of an underlying asset. There are various types of derivatives like Swaps, Options, Forwards and futures. A major advantage of derivatives exchange is ability to draw maximal profit while a major disadvantage is also ability to draw maximal losses. Hopex exchange comes with a satisfactory web design which makes trading very easy without any hitches. For the contract trading here comes is with a fee of 0.05% for every trading on the exchange. To register, i just provided my basic information and i started trading. Welcome Bonuses are also found in this exchange, after my registration and my initial deposit of about 300$, i recieved a welcome bonus, this was a nice innovation as thus was the first derivatives exchange I would be using in a long while. To be honest, the leverage rates on this exchange is just adequate and sufficient, i once leveraged with a rate of 100× and i made alot of profit, unlike when i reduced the leverage I made losses to, so it all depends in the ability of users to bear underlying risks. Cld storage facilities are used to store more than 95% of traders funds, so put your mind at rest, your funds are safe! 😉.
Pros
- The trading fees are considerably cheap
- The user interface is intuitive and dynamic
- Trading here was easy
- Supporting Derivatives trading is a very innovative idea
- As a centralized exchange, it is liquid
Cons
- I haven't experienced anything negative here on Hopex
