CEX.IO Experience 2021 - Serious Broker or Pure Scam?

Overall Rating: 
5/5 stars




If you are interested in trading cryptocurrencies, you will soon realise that there are already a few very interesting platforms - so-called crypto exchanges.

The influence of such platforms still seems to be restrained, but there is already a lot of trading in the various digital currencies, such as Bitcoin or Ethereum, across the country's borders.

CEX.IO is a very interesting platform. This is a London-based company that was founded in 2013. But can this crypto exchange really be recommended? After all, it is a company that has not been in existence for long, which is also due to the fact that the industry is still relatively young. However, if you look at the testimonials on the internet and take a look behind the scenes of the platform, it quickly becomes clear whether this is a reputable service.

What you should know about CEX.IO

CEX.IO is a cryptocurrency platform through which spot and margin trading is possible in addition to trading cryptos after several years of development. CEX.IO used to offer global cloud mining services.

Today, the products offered range from instant buying and selling of cryptocurrencies to margin trading . Additional features such as saving, lending and custody of cryptos are also implemented.

At CEX.IO, security is a top priority. The operators work with renowned regulatory authorities and are controlled by both the USA and the UK.

The key data on CEX.IO at a glance

Key data



London, GB

Customer support

email only


SSL-encrypted, cooperation with FinCEN

Minimum deposit

$ 20

Demo account


Payment methods

Debit and credit cards, bank transfer, Skrill, cryptos



Cold wallets


Account types



Yes, from USA

CEX.IO in the test: Serious or to be treated with caution?

A quick look at the offer is enough to know relatively quickly that this cannot be a scam. CEX.IO can therefore be trusted.

The first indication that you don't have to be afraid of a scam here is the official registration in Great Britain - so the company is under control of the authorities.
Furthermore, part of the assets are kept in cold wallets. Thus, a part of the business assets is protected from hacker attacks.
In addition, one should not forget that CEX.IO has been around for six years - during this time there have never been any negative headlines.
Furthermore, it works with SSL encryption - so the sensitive data of the customers is also protected. This means that criminals have no way of accessing any data entered by the customer, for example in the course of registration.
In addition, there is also the so-called two-factor authentication - a security key is still needed to log in.
All these points clearly indicate that CEX.IO is a serious provider that ensures that customers can really feel 100 per cent secure. Therefore, it can definitely be recommended.

How CEX.IO works - a step-by-step guide

There are three categories of CEX.IO:

To buy cryptos via CEX.IO, you need to have an intro account with your email address, country of residence, name and date of birth (after verifying your email address).

With this, however, only purchases for $100 can be made daily for the time being and only a maximum of $100 can be withdrawn per day. Those who want to buy cryptos for higher amounts must prove their identity and provide additional personal information. However, the $100 limit only applies to fiat currencies. Those who pay with cryptos can make unlimited deposits.

Here is a step-by-step guide to trading at CEX.IO:

Step 1: Sign up and check ID

An account can be opened on the CEX.IO website with "Get Started". An e-mail address and a password are required. Then the "Terms and Conditions" have to be accepted. Afterwards, the user receives a verification link and has to provide further information on the country of residence as well as name and date of birth.


Step 2: Make a deposit

In the dashboard at the top left, you can make a deposit by clicking on "Deposit". Payment method and amount are freely selectable. If you still want to wait with live trading, you can first use the demo account, because the intro account already offers a demo version.

Step 3: Buy cryptos

If you want to buy cryptos, you must first have a wallet where the cryptocurrencies are stored. By clicking on "Buy / Sell", the desired cryptocurrency can be specified and paid for with USD, GBP, EUR or RUB (minimum amount $20).

The wallet address must be confirmed again via the options. Afterwards, it is sufficient to click on "Buy."

Under "Trader", the trader with an Intro account can also initiate limit and market orders if there is money in the account. The "Trade" page offers real-life charts and other analysis tools. Users can also view the tradable currency pairs, take a look at the order book and check the market depth.


CEX.IO Review: The offer

CEX.IO, founded in 2013, has been a trading centre for cryptocurrencies for more than half a decade - including the mother of all digital currencies, bitcoin. At the beginning, only bitcoin was available to customers; only over time was the portfolio expanded, so that today other digital currencies are also available. For example, you can trade Ethereum or Dash.

Incidentally, a web-based trading platform is provided for trading. The advantage of this is that you do not need to download your own programme - you can access your account and invest in cryptocurrencies from any computer.


If one calls up the trading area on the page, the customer can follow the current prices and decide on any purchases as well as sales. In this case, the provider offers minor assistance - that is, one can buy Bitcoin in a certain value with a single mouse click. For example, predefined amounts, such as 100 US dollars, 200 US dollars and 500 US dollars, are available.

At this point, however, it must be mentioned that this does not mean that you can only invest in a sum provided by the platform - of course, you can also choose an individual amount.

Arbismart Rating
  • Interesting is also the fact that - in addition to regular trading - there is also so-called margin trading. Traders with an affinity for risk can thus also trade with a 1:2 or 1:3 leverage. However, one should not disregard the fact that the fees then change. In addition, the risk of trading with leverage should not be underestimated - if the market develops in the wrong direction for the trader, high losses can occur.
  • Another advantage is that the trading platform is very clearly designed and does not appear overloaded. Various additional functions - such as alarms and constant price updates - round off the offer.

Which cryptocurrencies are tradable on CEX.IO?

When buying cryptos, various coins are available. However, the selection differs depending on whether the trader would like to buy or prefer to sell.

When buying, the following are available:

Bitcoin Cash
and 22 others.

The following cryptos can be sold and deposited:

Bitcoin Cash
Matic Network
Basic Attention Token

CEX.IO offers the following cryptos for trading:

Bitcoin Cash

The account types at CEX.IO

CEX.IO knows the following account types:


The account systems have different levels of access. Here is an overview of the account types in table form:

Account type


Max. Deposits and withdrawals

Payment methods



$ 100 per day

Visa and Master only



Deposits $ 3,000 / day
Withdrawals $ 10,000 / day

Visa and Master only



Deposits $ 10,000 / day
Withdrawals $ 50,000 / day

Visa, master, bank transfers



unlimited deposits and withdrawals

Visa, Master, bank transfers and others

Corporate (account for companies)


unlimited deposits and withdrawals

all payment methods offered

The Corporate account also offers customised trading options.

The fees and costs of CEX.IO

CEX.IO's fees include:

Deposit fees
Withdrawal fees
Trading fees

behind the operator
  • Deposit fees

  • Withdrawal fees

  • Trading fees

Traders pay a 2.99% fee when depositing by card. Bank transfers in EUR, USD and GBP are free of charge, but take up to two business days to process.

Which deposit and withdrawal options are accepted at CEX.IO?

When making a deposit or withdrawal, please note that the provider offers different account types:

1. non-verified basic account
If you use a non-verified basic account to gain access to the portfolio, you can make a deposit with a credit card - in this case, VISA and Mastercard are accepted by the platform. It should be noted, however, that the use of the credit card incurs a fee of 3.5 percent. There is also an additional fee of 0.24 euros. The daily limit for deposits is also 300 euros.

2. verified account
If your account has been verified, this does not change the fees in the first place - if you use your credit card, you still have to accept additional costs. However, after the account has been verified, you can make deposits with cryptocurrencies and also with a bank transfer.

Wallets mandatory


If you want to make a withdrawal, you can use the following options:

  1. Credit card
  2. Bank transfer
  3. Wallets of the respective digital currency

If you decide to make a payout in the currency euro, you will be charged a fee of 10 euros for the bank transfer. But even if you choose the credit card option, there are fees - the flat fee in this case is 3.50 euros, plus a fee of 1.2 percent.

Even if the withdrawal fees are by no means customer-friendly, it can at least be said at this point that you can avoid any fees that may arise when making a deposit, as long as you choose the "right" deposit option.

However, not only the negative should be seen at this point - the fact that withdrawals are only carried out under the most stringent security precautions is an advantage. This means that the user does not need to fear that the money will "disappear" and not be paid out.


The deposit, no matter which method you choose in the end, is not a big challenge even for beginners. Here, care has been taken to make the deposit very uncomplicated.

Deposits with a digital currency are particularly recommended, as no fee is charged here - in addition, the credit is immediately booked to the trading account, so that you have access to the money within seconds.
If you decide to use a bank transfer, you will need some patience - as a rule, the money is only available after three to five working days.

Supported cryptocurrencies

Supported countries, currencies and payment methods

CEX.IO is available in 99% of all countries worldwide. In the USA, however, the platform is only available in 27 states. In certain countries it is not possible to pay by credit card or bank transfer; many of them because of US sanctions.

Here is an overview of the supported countries, currencies and payment methods in table form:



Debit and credit cards

Worldwide, except Afghanistan, Algeria, Bosnia and Herzegovina, Bahrain, Bangladesh, Bolivia, Burundi and others.

Bank transfers

Yes, worldwide


only for customers in Europe

ACH transfer

Yes, domestic transfer

Fiat currencies


CEX.IO Experience Report: The Platform

The website makes a very good impression. The provider deliberately refrained from using exaggerated graphics - instead, they tried to make the appearance as neat as possible. Above all, it was important to the provider not to overcrowd the page, so that one knows relatively quickly where the individual points can be accessed.

Already on the start page, the visitor will find a relatively large amount of information, so that a direct entry - even for beginners who have never had anything to do with the subject - is possible.

at CEX.IOdd

At the bottom of the website is the footer area, which then leads to the remaining menus and ensures that the jumps that are possible between the areas also succeed without problems.

CEX.IO has also concentrated on the essentials in the trading platform. If you click on "Market Data", you can also look forward to many details and extras. For example, there are chart analyses or broken down values to help with trading. If you are not familiar with such functions, simply do not click on "Market Data".

Advantages and disadvantages of CEX.IO

So, from the points made so far, we can summarise the following advantages and disadvantages:


  • CEX.IO is a platform that has existed since 2013 and is regulated and controlled by the supervisory authorities.
  • It has managed to build up a good reputation - there have been no negative headlines since the platform was established.
  • CEX.IO not only offers Bitcoin trading, but also Ethereum and Dash.
  • There are various deposit and withdrawal methods.
  • The site is not overloaded and is structured in such a way that even beginners who have never had anything to do with the matter will not face any challenges.


  • However, the customer support is still expandable; currently, contact can only be made via the contact form. Not only do you have to expect a waiting time of several hours, the answer is also only given in English.
  • Of course, the deposit and withdrawal fees should also be questioned - even if it is possible to avoid the deposit fees, it is by no means customer-friendly to impose additional costs on the customer in the course of a deposit or withdrawal.

Important features and additional functions at CEX.IO

Here are the additional functions at a glance:

Leverage trades
Custody services

Leverage trades

Apart from spot trading, CEX.IO offers leveraged trading. The maximum leverage is 1:100.


With staking services, CEX.IO also offers the possibility of passive income. With staking, the customer makes his cryptos available on third-party blockchain platforms and participates in the validation of the transactions on this platform, then receives a reward for staking in return.


CEX.IO offers loans to private individuals as well as companies. This function has not yet been implemented, but is planned.

Custody services

Custodial services are also planned and have yet to be introduced. However, unlike the loans, these services are only available to companies. For a small fee, CEX.IO offers companies to store the coins of their customers.

Security and regulation at CEX.IO

At CEX.IO, all transactions are SSL-encrypted and constantly monitored. In case of discrepancies, the IT team intervenes. In terms of security, CEX.IO can also score points because the platform has a licence as a financial services provider in the USA. The responsible regulatory authority FinCEN (Financial Crimes Enforcement Network) guarantees that deposits and withdrawals are carried out according to the rules.

CEX.IO is obliged to report suspicious transactions in USD to FinCEN. This makes it difficult for cybercriminals to use the platform for their nefarious deeds.

FinCEN also requires strict measures in the verification of customers, for example the "know-your-customer procedure." (KYC) CEX.IO must also ensure that its customers comply with the Anti-Money Laundering (AML) guidelines.


The offer is also available on the move

However, you don't have to be sitting in front of a computer all the time to take advantage of the CEX.IO offer. Easy access is also possible via tablet or smartphone - i.e. you can also access your account with mobile devices. For Apple, a suitable application can be found in the app store, which can then be downloaded free of charge and installed on the smartphone and tablet. Don't worry: there is also a version for Android - this app can be downloaded free of charge from the Google Playstore and then installed on the tablet or smartphone.

If you look at the functionality, both versions - the Apple and the Android version - are convincing. You can use the app to create or end orders, make deposits and withdrawals and check how the prices are changing.

The CEX.IO app is indeed a helpful alternative that should be installed on your tablet and/or smartphone.

CEX.IO's customer support

Currently, customers can only contact CEX.IO via the contact form.

An alternative to the contact form is the FAQ section. If you have a question or a problem, you can take a look at the FAQ section to see if the topic is covered there.

The provider does not offer telephone support or live chat. So if you have a question or concern, your only option is to contact the staff via the contact form. Of course, it is self-explanatory at this point that you do not receive an answer immediately, but sometimes have to wait a few hours - sometimes even a working day - for a response. In addition, answers are only given in English.

CEX.IO - What do the testimonials look like?

If you concentrate on the various testimonials that can be found on the internet, the majority of users are of the opinion that trading with digital currencies at CEX.IO works perfectly.

Not only does CEX.IO provide a very clear trading platform, it also convinces with a very simple operation and very fast executions.

Moreover, not only Bitcoin is available here - you can also trade with Ethereum such as Dash.

On the other hand, the deposit and withdrawal fees are criticised, although it must be mentioned here that the deposit fees can be circumvented. It depends on the method chosen.

Customer reviews of CEX.IO on the internet

CEX.IO experiences are generally good. Nevertheless, there are many negative reports.

CEX.IO's rating on Trustpilot is good with an average of only 4.6 out of 5 stars with 6,965 reviews currently. 67% of users have given the platform the highest rating and 13% find it unsatisfactory.

Here are a few reviews:

Haa wrote on 29.12.2020:

"CEX.IO thank you for your feedback on truspilot. I think it is a pity for your company that you have the time to reply to our reviews but where you have to you seem to have a lot of requests from customers.
I don't want to write to support or i.someone, I want my money paid out or free because I didn't come to cancel my payment or anything.

Polowonix, who left a review on 2020/08/14, also doesn't leave a good hair on CEX.IO:

"Verification not possible-> No payout. Verification not possible because no SMS is sent (tried different numbers, nothing arrives anywhere). Therefore no payout possible -> FRAUD? Lost about 200‚ā¨ because of this, thinking about filing a criminal complaint."

Dieter Naj, on the other hand, had a good experience after a rough start. He wrote on 01.06.2020:

"Top notch. Had a problem with a bitcoin withdrawal at first but then the support sorted everything out! Everything went quickly within hours.

CEX.IO Rating: A Strong Performance with Small Weaknesses

It can be seen relatively quickly from the portfolio that CEX.IO is not a company from Asia. Here, the focus is exclusively on those coins that are popular in the British homeland and predominantly in Europe - and these are mainly Bitcoin or Ethereum.

This is also not a disadvantage, as you know that CEX.IO only provides first-class coins - if you are looking for typical exotics, you have to choose another platform.

Another point that is of course convincing is the leverage, which is available in the variants 1 to 2 as well as 1 to 3, so that effective margin trading is possible.

The platform is also clear, provides information on the various market events and is structured in such a way that even a beginner who has never been on a comparable platform will have no problems.

However, there are also a few points of criticism that should not be ignored: The contact form is the only contact option; moreover, the deposit as well as withdrawal fees are not exactly customer-friendly.



Is CEX.IO serious?

Definitely. The cryptocurrency exchange has all the necessary licences that a reputable platform must have. One mandatory security measure, for example, is SSL encryption to protect customer funds and data.

How long does the verification process take at CEX.IO?

According to CEX.IO's own information, verification takes between one and 24 hours.

What payment methods are available at CEX.IO?

CEX.IO accepts debit and credit cards, bank transfers, QIWI, crypto and Skrill payments.

Does CEX.IO offer a demo account?

Yes. Traders can get to know CEX.IO and its functions via the demo version and test it risk-free. However, traders can only access the demo account if they do not leave it inactive for 30 days or longer.

About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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