Review of CITEX
As one of the most popular South Korean crypto exchange platforms, CITEX has gained a reputation for a fast sign-up process, reliable trading, and top-flight security. Find out everything you need to know about CITEX below, including its unique features, security, fees and much more.
Pros & Cons
What can I do with CITEX?
Besides peer-to-peer crypto trading and exchanges, CITEX has also launched ETF trading and cloud mining of coins, among other features.
CITEX provides a user-friendly web trading platform as well as a mobile app available for both iOS and Android users. It puts traders first by offering an open, transparent platform and a 24/7 support team that is available to resolve any problem.
CITEX cryptocurrencies and trading options
What cryptocurrencies can you trade on CITEX?
Major cryptos traded on CITEX
CITEX core currency pairs
All CITEX trading options
CITEX provides over 80 cryptocurrencies, more than 100 popular and exotic crypto pairs, as well as over 50 ETFs to trade.
Can I trade with leverage on CITEX?
No, CITEX doesn’t currently allow clients to trade using leverage.
Trading with leverage is risky and should only be conducted by traders with at least some market experience.
What are the spreads?
CITEX doesn’t charge spreads on its trades, but instead charges a flat 0.2% fee from both the buy and sell side on all transactions.
Fees, limits, and payment options on CITEX
What are the deposit and withdrawal fees, limits, and speeds?
To start trading with CITEX, you must first open a valid account. The only payment methods accepted for both deposits and withdrawals are cryptocurrencies and wire transfers. However, wire transfers must be denominated in South Korean Won.
CITEX doesn’t charge any deposit fees and withdrawal fees are calculated based on the volume traded and the cryptocurrency you wish to withdraw. For instance, the minimum amount of ETH you can withdraw is 0.05, and you’ll have to pay a 0.005 ETH fee for every withdrawal.
|Wire transfer (KRW only) |
1-2 business days
1-2 business days
|Crypto (BTC, ETH)|
How much are CITEX’s fees and commissions?
CITEX practices a common maker/trader fee policy and it is about the only type of fee you will have to pay to use the platform, apart from the withdrawal commissions.
CITEX charges a 0.2% fee for all orders, both from makers and takers, and doesn’t base its commission on trading volumes or the type of cryptocurrency or ETF traded.
|Fee type||Fee amount||Commission|
CITEX trade sizes and limits
CITEX allows traders the minimum possible trade size, which is 0.01 lots.
|Product||Minimum trade||Maximum trade|
CITEX trading platform
What devices can I use CITEX on?
CITEX offers a web trading platform and a mobile app, which is available on both App Store (for iOS devices) and Google Play (for Android devices).
- Web browser
- iOS Mobile Devices
- Android Mobile Devices
Can I use CITEX in my country?
CITEX is available in over 150 countries and territories worldwide, including the United Kingdom, Virgin Islands, France, and Germany among many others. Select your country from the list below to see if it is available where you are.
Is CITEX available in my language?
Currently, the CITEX app is only available in traditional Chinese and simplified Chinese, Vietnamese, Korean, and English.
How easy is it to use CITEX?
CITEX is an all-in-one exchange boasting a simple, user-friendly interface. It is designed to meet the requirements of beginner/intermediate traders and offers easy access to its main features for exchange and trading cryptos.
It can be used to trade over 80 cryptocurrencies and one fiat currency, as well as a range of ETFs. The mobile version keeps you updated on your active trades at all times and provides many of the same features as the web version along with bank quality security.
CITEX claims to be “the world’s leading trustworthy crypto assets platform”, here are some of its key features:
Earn weekly rewards for hosting a masternode, which is a server on a decentralized network. This contributes to the overall health of the blockchain you aim to support. While this does entail a sizable initial investment, CITEX helps you make this back by rewarding you in the cryptocurrency that you help facilitate transactions in.
This essentially means that for transaction fees generated by traders, CITEX will return to traders with a 105% equivalent of CTTs, which is “Transaction Fee mining”.
Unlike many crypto exchanges and trading platforms, CITEX makes an array of ETFs available for trading, including both long and short leveraged ETFs on a variety of stock indexes.
Security and regulation
Is CITEX safe?
CITEX is credited as one of the safest crypto and exchange trading platforms in Asia, having earned multiple awards ever since the platform’s inception in 2011. It is considered to have a top-notch private banking security system to keep your personal data and assets safe at all times.
Am I and my cryptocurrency protected?
CITEX uses encryption and a series of PCI standard security protocols to ensure all transactions and wallets are secure. According to their website, assets are stored in a multi-signature cold wallet and can be deposited and withdrawn with an offline signature.
Is CITEX regulated?
No, The company behind CITEX (Toptech Blockchain Co. Limited) is not regulated by any official governmental agency anywhere.
Do I have to verify my account with CITEX?
Yes, CITEX runs a Know Your Customer (KYC) policy and requires verified information to allow live trades. Since it doesn’t offer a demo account, all trades must be registered and run through a verification process.
Outside of a help center and FAQ section, CITEX’s educational resources are non-existent and come up woefully short as compared to other crypto exchanges and even decentralized peer-to-peer platforms like its own.
Tools and charting
Similar to its lack of educational resources, CITEX features limited trading and charting tools. Outside of a standard set of true range and other indicators and an API, which is designed more for professional or high-volume traders, there isn’t much to talk about.
Having said that, the platform’s Mining Pool project is unique and could prove beneficial for those who want to learn more about the blockchain technology behind cryptos and how to mine their own coins.
According to their website, CITEX’s customer support team can be accessed 24/7 to answer your questions and assist where required. You can contact the customer team directly via email and you should expect an answer within 24 hours. In addition, Chinese and English customers also have dedicated Telegram accounts for additional support.
CITEX is a popular peer-to-peer digital asset trading platform developed in South Korea that supports customers from over 100 countries. It specializes in crypto exchanges and trading, but also offers a growing selection of ETFs to trade as well.
The web trading platform is straightforward and easy-to-use, while the mobile app provides all the necessary features to ensure you can keep up with your trades and even open new ones, no matter where you are.
CITEX scores better than other similar platforms in terms of fees and up-time/performance but the customer support options are limited and the educational resources are non-existent. Despite these glaring limitations, CITEX has some fairly unique features, such as cloud mining of coins and regular masternode hosting rewards. If you are really into all aspects of blockchain technology and crypto, CITEX may just be the platform for you.
How to buy and sell cryptocurrency on CITEX
How to buy crypto on CITEX
- Sign in to your account
- Deposit fiat/crypto before making any order
- Go to the web trading platform and choose the crypto pair you wish to trade
- Complete the details of your order, including how much and what crypto you want to buy
- Click “Open Order”.
How to sell crypto on CITEX
- Go to the exchange platform
- Select your trade market in Main or P Board
- Select Limit prices or Market prices for your trade
- If a limit order was chosen, confirm the Sell order and complete your trade
- Follow the order details in the Open Order/Open History/Deal Details tab
CITEX is owned by Toptech Blockchain Co. Limited.
CITEX makes money by charging fees and commissions for withdrawing funds into your account and a fixed 0.2% taker/maker fee for every completed transaction.
Depending on the country of your residence, you might be asked to pay taxes on your CITEX profits. Check your local tax regulations for more details.
To delete your CITEX account, you must contact the support team via email and follow the steps provided by them.
You can short on CITEX exactly the same way you place a sell order. When completing the details of your order, make sure to input the entire amount of a cryptocurrency you wish to either short for fiat or another cryptocurrency.
Go to the Login tab on the homepage and click on the “Forgot Password?” link. An email will be sent to your registered email address to reset your password.
No, Paypal is not currently a supported payment method.
If CITEX’s platform crashes, all you have to do is close it and open it again.
Should CITEX cease operations altogether, it is not insured in any jurisdiction and does not guarantee client funds from loss.
After completing a trade, you can see all the trade details in the Open Order/Open History/ Deal Details tab.
Yes, CITEX does offer the ability to pay in supported crypto coins.
No, while not bonuses, CITEX does offer regular crypto coin/token rewards for masternode hosts and mining pool contributors.
Go into the main app, click BTC > Select and Receive > Receive > copy address. Use the address to send or receive crypto from Coinbase.
No, CITEX follows a KYC policy which requires clients to open trading accounts using their real names and personal data to prevent money laundering. However, clients who wish to trade anonymously can do so up to 0.5 BTC per day.
Yes, CITEX offers an integrated wallet option.
- Go to the trading platform and select “Exchange”
- There is a daily withdrawal limit of 0.5 BTC if you wish to trade anonymously, without signing up using your real name and providing additional details. Find the token you wish to withdraw and click “withdraw”
- Add the address you wish to withdraw to
- Confirm email code & Google Authentication
There is no public knowledge that CITEX’s platform has ever been hacked.