TimeX offers Spot and OTC markets with access to 20+ digital assets. The exchange has partnered with BLOCKCHAIR, Brave, and TrailingCrypto to provide fast and decentralized trading services.
TimeX; An Introduction to the Exchange
TimeX, developed by Sydney blockchain company Chrono.tech, brings forward centralized and decentralized technologies for cryptocurrency enthusiasts.
The exchange is regulated by the Australian Transaction Reports and Analysis Centre. It has a team of 30 professionals and offers services across 62 countries. We must mention in this TimeX review that the platform operates within the Ethereum Plasma ecosystem. Key features of TimeX:
- Founded in 2019
- Licensed by AUSTRAC (License No. 100588407)
- 20+ digital assets
TimeX Exchange Specific Features
Timex has a daily trading volume of $21 million. Let’s take a brief look at the crypto exchange’s offerings.
Exchange | TimeX |
Launch Date | 2019 |
Levels | No |
Trading Fees | Taker 0.5% Maker 0.25% |
Restricted Countries | N/A |
Supported Coins | 20+ |
Futures Trading | No |
Minimum Deposit | $0 |
Deposit Methods | Bank Wire, ADVCash (Volet), Crypto |
Withdrawal Methods | Bank Wire, ADVCash (Volet), Crypto |
Maximum Leverage | 1:1 |
Minimum Trade Size | OTC Trading AUD 25,000 |
Security Factors | 2FA |
Services | Spot Trading, OTC Market, PAYMENTX (Automated cryptocurrency payroll solution) |
Customer Support Ways | Email, Telegram Channel |
Customer Support Hours | Response within 24 hours |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | Market |
Native Token | TIME |
TimeX Pros & Cons
The exchange is a decentralized platform that doesn’t hold custody of its clients’ funds. Let’s weigh the platform’s advantages against its disadvantages.
Pros | Cons |
Hybrid architecture combining speed and security | Limited number of trading pairs compared to larger exchanges |
Fiat currency support | No futures or margin trading options |
Strong focus on security and regulatory compliance | Relatively new platform, still building trust and reputation |
Innovative use of Plasma technology | Geo-Restrictions |
TimeX User Levels
The exchange doesn’t offer any user levels or the traditional fee discounts associated with these levels. This is a letdown in this TimeX review for high-volume traders who seek to maximize their profits.
TimeX Exchange Fees and Commissions
The platform charges gas fees for the execution of market orders and any contract calls, including allowance, wrap, withdraw, and transfer. However, the specific rates are only available for the Spot market.
- Taker Fee: 0.5%
- Maker Fee: 0.25%
In addition to these standard fees, users are also responsible for network gas fees when executing market orders or blockchain-level transactions such as transfers, wrapping, or withdrawing tokens.
Listed Cryptocurrencies
Limited digital asset coverage is one of the letdowns in this TimeX review. The platform only supports 20+ cryptocurrencies, including:
- TIME
- BTC
- ETH
- USDT
- SATA
- SLP
- LTC
- XRP
- LINK
- EOS
- AMPL
- SHPING
- SLP
- CGU
- QTC
- SMG
- KOKU
- FBX
- QMALL
- RSI
- DUDE
Does TimeX Offer Futures Trading?
The exchange does not offer futures trading or any form of leveraged trading. This decision aligns with the exchange's focus on providing a safer trading environment for its users.
TimeX's approach prioritizes spot trading, which enables users to buy and sell cryptocurrencies at their current market price, eliminating the added complexity and risk associated with futures contracts or leverage.
Account Opening and Verification
Opening an account on TimeX is a straightforward process designed to balance user convenience with regulatory requirements.
#1 Navigate to the Website
Visit the TimeX website at its official address or by searching it on Google,and click "Sign Up". You will be navigated to the registration form.
#2 Complete the Account Opening Form
First, provide your email address and create a strong password. Then, verify your email by clicking the link sent to your inbox or providing the OTC.
We suggest you enable two-factor authentication (2FA) for added security.
#3 Verify Your Identity
Complete the Know Your Customer (KYC) verification process:
- Level 1 (Up to 1 BTC daily): Email and phone verification
- Level 2 (Up to 5 BTC daily): Additional personal information
- Level 3 (Up to 10 BTC daily): Proof of residential address
- Level 4 (Up to 20 BTC daily): ID documents (passport or driving license)
TimeX Exchange App and Platform
The exchange doesn’t offer any mobile applications (one of the biggest letdowns in this TimeX review) and only supports a web-based trading platform. The platform is integrated with TradingView charts and tools.
Despite the lack of an application, TimeX compensates with powerful API access that enables advanced users and developers to:
- Automate trading strategies;
- Engage in arbitrage and high-frequency trading;
- Connect TimeX accounts to external trading terminals.
Security Measures
As mentioned, TimeX operates as a non-custodial platform offering high security for client funds. However, to add an extra layer of protection to user accounts, the exchange supports Two-Factor Authentication (2FA).
The platform doesn't have a history of any successful hacking incidents, but it lacks an investor protection fund.
Payment Options
The exchange accepts fiat and crypto transactions. It supports USD and AUD as fiat currencies. Available fiat methods on TimeX:
- Volet (formerly known as ADVCash)
- Bank Wire
At the time of writing this TimeX review, there are no minimum deposit or withdrawal limits.
User Experience
There are not many ratings on online platforms for the exchange. The TimeX Trustpilot profile features five reviews, all of which are 1-star, resulting in a poor 2.5 out of 5 score.
TimeX Features
For a brief overview of the features and services offered by the platform, look at the table below:
Staking | No |
Yield Farming | No |
Social Trading | No |
Liquidity Pool | No |
Crypto Cards | No |
TimeX Exchange Support Channels
The platform provides customer support through email and a Telegram community. All support requests are processed within 24 hours. TimeX contact information:
- Email: help@chrono.tech
- Tech Telegram Channel: @timexio
Investment and Growth Plans
TimeX does not offer specific investment or growth plans. It doesn’t support crypto staking features. Instead, the platform focuses on providing a secure and efficient spot trading environment.
TimeX Exchange Restricted Countries
While the company hosts users from 62 countries, its main base of operation is Australia. The specific red-flag countries are not disclosed on the TimeX website.
However, in accordance with AUSTRAC regulations, the services may not be available in North Korea, Iran, Syria, Myanmar, and the United States.
Table of Comparison Between TimeX and Other Exchanges
The table below compares TimeX with other platforms:
Parameters | TimeX Exchange | |||
Number of Assets | 20+ | 800+ | 1300+ | 400+ |
Maximum Leverage | 1x | 125x | 100x | 125x |
Minimum Deposit | $0 | $1 | N/A | $1 |
Spot Maker Fee | 0.25% | 0.005% - 0.1% | 0.005% - 0.1% | 0.02% - 0.1% |
Spot Taker Fee | 0.5% | 0.02% - 0.1% | 0.015% - 0.1% | 0.04% - 0.1% |
Mandatory KYC | Yes | No | Yes | Yes |
Futures Trading | No | Yes | Yes | Yes |
Mobile Application | No | Yes | Yes | Yes |
Fiat Payment | Yes | Yes | Yes | Yes |
Staking | No | No | No | Yes |
Copy Trading | No | Yes | Yes | Yes |
Writer's Opinion and Conclusion
TimeX supports Cryptocurrency trading with AUD and USD fiat currencies, charging a 0.5% taker fee and a 0.25% maker fee. The exchange has a poor score of 2.5 out of 5 on Trustpilot.