Review on Mercatox by Elvin Akhmed
Mercatox Exchange
Although Mercatox is based in the United Kingdom, the team behind it remains unknown, which is one of the exchange's red flags. The exchange has over 280,000 members and the website is available in English, Russian, and Chinese. The exchange may be classified as multicurrency because it takes e-wallets such as perfecmoney, okpay, and Yandex money in addition to cryptos and fiat deposits. It has a 0.25 percent fixed trading charge, which is regarded excessive in the market.
Different cryptocurrencies have different withdrawal fees. Because it requires a minimum investment, it may not be suitable for novices with limited funds to try the crypto market. Mercatox offers a variety of trading options, including margin trading, franchising, and financing. The platform rewards its loyal users by providing them with special benefits, and it also attracts consumers by offering a two-level affiliate scheme.
The exchange was hacked in 2018, and it is impossible to declare with assurance that the team has put in place enough security measures to prevent a repeat of the 2018 catastrophe. The customer service department may be contacted via the platform's chat room or by email.
Pros
- Customers that are loyal are rewarded.
- Excellent client service
Cons
- Trading has a high charge.
