Finexbox has listed 300+ cryptocurrencies in a Spot and P2P market. The minimum deposit and minimum trade size are $10. The exchange charges a 0.1% fee for makers and takers, and no deposit fees.
Finexbox; Exchange Information and Licenses
Finexbox is a centralized P2P cryptocurrency trading platform founded in 2017 and launched in June 2018.
The platform is operated by FINEXBOX GROUP LIMITED (company No. 209244) registered in the Republic of Seychelles.
The exchange is also registered in China and the United Kingdom through GENESIS BLOCKCHAIN GLOBAL LTD. Key features of Finexbox:
- China company register ID: 91440101MA5CKE1N94
- UK company number: 11673783
- Angel round financing: $8M by an American investment firm
- Daily Trading Volume: $6,020,437
- Weekly Trading Volume: $23,676,186
Finexbox Table of Specifications
The Crypto exchange, led by CEO Dennis Smith, has a client base of 593,548 users. Here’s a table summarizing Finexbox’s key offerings:
Exchange | Finexbox |
Launch Date | 2018 |
Levels | No |
Trading Fees | 0.1% |
Restricted Countries | United States, Bahrain, Palestine, Iraq, Lebanon, Libya, Syria, Yemen, Afghanistan, Somalia, Cameroon, Rwanda, Croatia, Burma, Albania, Mauritius, Puerto Rico, Cote d'Ivoire, Laos, Macedonia, Bahamas, Haiti |
Supported Coins | 300+ |
Futures Trading | Yes |
Minimum Deposit | $10 |
Deposit Methods | Crypto |
Withdrawal Methods | Crypto |
Maximum Leverage | 1:3.3 |
Minimum Trade Size | $10 |
Security Factors | Data Encryption, 2FA, Proof of Reserve, Cold Storage |
Services | Spot Market, P2P Margin Trading, API Services |
Customer Support Ways | Telegram, Email |
Customer Support Hours | N/A |
Fiat Deposit | No |
Affiliate Program | Yes |
Orders Execution | Market |
Native Token | FNB |
Does Finexbox Offer User Levels?
Unlike strong competitors, Finexbox doesn’t offer a tiered user level system. Crypto exchanges usually reduce trading fees based on the client’s trading volume.
Finexbox Fees and Commissions
The platform charges no fees for deposits above a certain amount. However, crypto withdrawals incur a transaction commission, which is variable based on the digital asset. Finexbox implements a single direction fee structure for trading:
- Maker: 0.1%
- Taker: 0.1%
Available Digital Assets on Finexbox Exchange
The platform offers trading of its native token, FNB, and a tokenized Africa digital asset, Afreum (AFR on Stellar blockchain), in addition to 300+ other crypto assets, including:
- Tether (USDT)
- Bitcoin (BTC)
- Litecoin (LTC)
- Binance Coin (BNB)
- Tron (TRX)
- Stellar (XLM)
- Ethereum (ETH)
- Toncoin (TON)
- Arbitrum (ARB)
Finexbox Margin Trading
The exchange provides leveraged margin trading via a peer-to-peer funding market, enabling users to trade securely with up to 1:3.3 leverage.
Registration and Verification
To start trading on the exchange, you only need to verify your email address. Finexbox does not have a KYC verification procedure.
Note that yahoo.com/Hotmail is not accepted, and you can only register using Gmail.
- Visit the exchange’s official website;
- Click “Register”;
- Fill in the signup form;
- Activate your account using the verification link sent to your email.
Is Finexbox Exchange Secure?
The exchange mandates enabling the 2-factor authentication (2FA) with Google Authenticator as a security layer.
However, there are significant concerns about Finexbox's security measures and overall trustworthiness, including:
- No approved penetration test
- Absence of an ongoing bug bounty program
- Many user complaints
Despite the points mentioned above, the exchange offers 100% proof of reserve on its assets with the following addresses:
Finexbox Deposit and Withdrawal
In Finexbox, cryptocurrency is the only option to top up your account or withdraw from it. The platform doesn’t support fiat transactions.
Here are some of the available digital assets for Finexbox deposit and withdrawal:
- Bitcoin (BTC)
- Tether (USDT)
- Ravencoin (RVN)
- Matrix Token (MATRIX)
- Optimism (OP) – only withdrawal
Finexbox User Satisfaction
There are 83 Finexbox reviews on Trustpilot, most of which are negative, complaining about withdrawal issues, account closures, and lengthy deposit processing times.
The Finexbox Trustpilot profile has a bad score of 1.7 out of 5, with 82% being 1-star and only 17% positive (4-star and 5-star).
Does Finexbox Offer Investment or Growth Plans?
While the platform doesn’t feature any dedicated Crypto copy trading software, it offers a comprehensive API solution for Automated trading using customized EAs and Bots.
Finexbox also features an affiliate program that rewards clients with referral commissions. A loyalty program for Finexbox (FNB) token holders also offers weekly 50% transaction fee rebates as a MEGA bonus.
Conclusion
Finexbox provides access to 410+ crypto trading pairs in 7 markets, including BTC, USDT, LTC, BNB, ETH, TRX, and DOGE.
The exchange allows P2P margin trading with leverage options of up to 1:3.3. It has a bad score of 1.7 out of 5 on Trustpilot.