Review of IndoEx
The platform specialises in Altcoins that supports multi-currency transactions with maximum speed fills for your trades. IndoEx goes so far as to guarantee low latency order fulfilment and instantaneous execution with multiple order types. Find out everything you need to know about the platform in this detailed review.
Pros & Cons
What can I do with IndoEx?
Its institutional class trading engine is robust, processing over 20 million transactions every year and is built to optimize trading speed and efficiency. Besides providing access to major and alternative digital assets and fast processing speeds, IndoEx also offers a secure crypto wallet and multi-currency transactions for added convenience.
IndoEx International is a China based company that helps clients harness the advantages of blockchain technology.
IndoEx cryptocurrencies and trading options
What cryptocurrencies can you trade on IndoEx?
IndoEx offers traders over 180 coins/tokens and nearly 300 pairs.
Major cryptos traded on IndoEx
- Bitcoin Cash
- Bitcoin SV
- Ethereum Classic
- OMG Network
IndoEx core currency pairs
All IndoEx trading options
IndoEx offers major crypto coins, such as Bitcoin, Ethereum, and XRP, as well as some top alternative coins like Dash, Chainklink, and Litecoin.
Can I trade with leverage on IndoEx?
IndoEx does not make any disclosures about leverage minimums or maximums anywhere on its website, making it impossible for us to provide accurate information about the availability or lack thereof of leverage on the platform.
What are the spreads?
IndoEx charges a fixed percentage trading fee rather than a spread. The fee is divided between takers, who are charged 0.15% and makers, who are also charged 0.15%. Takers are traders who “take” an existing order from the order book.
Fees, limits, and payment options on IndoEx
What are the deposit and withdrawal fees, limits, and speeds?
IndoEx offers several standard deposit/withdrawal methods, such as wire transfer, bank debit, and crypto directly from your wallet.
The withdrawal fee is 0.0008 BTC, which is slightly above the current industry average of 0.0006 per withdrawal.
1-2 business days
$75/$200,000 (verified account)
2-3 business days
Free (bank charges apply)
2-3 business days
How much are IndoEx’s fees and commissions?
IndoEx charges traders fixed maker/taker fees of 0.15% on each side, which is standard for the industry. The chief aim of maker-taker fees is to stimulate trading activity within an exchange by creating an incentive to post orders, in theory, facilitating trading.
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IndoEx trade sizes and limits
IndoEx trade sizes start at 0.001 lot, which is the smallest possible tradable denomination.
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IndoEx trading platform
What devices can I use IndoEx on?
- Web browser
Can I use IndoEx in my country?
IndoEx doesn’t appear to restrict its exchange from being used by traders in any country explicitly, although it is focused on marketing to China-based traders – both citizens and residents. Select your country below to see if it is available where you are.
Is IndoEx available in my language?
IndoEx’s site is currently available in 9 languages, including English, Chinese simplified, Chinese traditional, Korean, Dutch, Russian, French, Italian, and Portuguese.
How easy is it to use IndoEx?
Taking a casual stroll through IndoEx’s platform, it is clear that its dashboard is straightforward, not too cluttered, while retaining functionality and charting, order type, and other options.
Similarly, viewing your balances, wallet status, and transactions is made simple and easy, with a header bar directly in your trading dashboard. While there is no mobile app at present (IndoEx’s site says they are coming soon), its web-based exchange will have a familiar feel for experienced traders, with plenty of familiar features.
IndoEx’s digital currency exchange offers some distinct features:
Institutional Grade API
A Gox compliant API, meaning a very richly featured tool that can even do things such as build system packages, upload binaries, generate download webpages, etc. that facilitates the implementation of complex algo strategies, backed by a robust trading engine.
In addition to being able to trade major digital assets such as Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and Ripple (XRP) with various fiat currencies on a single platform. IndoEx also makes available lesser-known coins/tokens, such as NEO, Cardano, and EOS.
IndoEx maintains commercial criminal insurance in an aggregate amount that is greater than the value of all the digital currency it maintains in online storage. Its insurance policy is made available through a combination of third-party insurance underwriters and IndoEx itself, which is a co-insurer under the policy.
The policy insures against theft of digital currency that results from a security breach, hack, employee theft, or fraudulent transfer.
Security and regulation
Is IndoEx safe?
IndoEx secures its client’s digital currency through a combination of secure, online servers and offline (cold) storage. IndoEx maintains 98% or more of client digital currency in cold storage, with the remainder kept in secure online servers strictly for liquidity purposes.
Am I and my cryptocurrency protected?
Yes, IndoEx carries both third-party and co-insurer policies to guard against security breaches, hacks, and thefts of client assets.
Is IndoEx regulated?
No, IndoEx is not regulated by any recognised financial authority in any country or territory at this time.
Do I have to verify my account with IndoEx?
While not mandatory, as with other similar exchanges, IndoEx will place withdrawal limits on all unverified accounts of $2,000 USD per day. Enhanced accounts with two-factor authentication enabled and verified can withdraw up to $200,000 USD at any time.
IndoEx does not provide any educational resources section on its website. The furthest it goes is a FAQ section, which covers the basics about the exchange and its features.
Tools and charting
IndoEx’s exchange offers seasoned traders all the bells and whistles they have become accustomed to, from multiple order types to one-click trading to custom charts and various indicators, like accumulation/distribution, advance/decline views, and more.
The “open orders” and “order history” windows are also prominently displayed at the bottom of the trading dashboard.
IndoEx support is available three ways: via telephone/Whatsapp via a U.K. based number, email or web form, through which you can submit a ticket and also set the priority of your inquiry/request.
IndoEx is a digital currency exchange offering an advanced trading platform designed for experienced traders. It specialises in altcoins, algos (via an API), and performance, offering maximum processing speed on transactions.
It’s trading dashboard will be very familiar to those who have actively used an online broker in the past, as it offers one-click trading along with multiple chart setups and order types, while providing reasonable fixed maker/taker fees of 0.15% on each side. Transaction fees are also kept low, with free deposits and a 0.008 BTC withdrawal fee.
The exchange offers 24/7 support via a dedicated U.K. phone line, as well as by way of email or web form. Some of IndoEx’s additional features include a “launch pad” for initial coin offerings (ICOs), occasional trading competitions, and a secure cold storage wallet. Overall, IndoEx’s exchange platform and fees are industry standard, while its coin/token roster and disclosures regarding its availability of leverage to traders leaves something to be desired.
How to buy and sell cryptocurrency on IndoEx
How to buy crypto on IndoEx
- Login to your account from the header bar on the homepage
- Go to your trading dashboard – also from the header bar on your homepage
- Enter the type and amount of coin/token you would like to buy
- Click on the green “Buy” button
How to sell crypto on IndoEx
- Login to your account from the header bar on the homepage
- Navigate to your trading dashboard
- Enter the type and amount of coin/token you would like to sell
- Click on the red “Sell” button
IndoEx is owned by IndoEx International, a China based company that helps clients harness the advantages of blockchain technology.
IndoEx makes money two ways: from fixed maker/taker trading fees and from withdrawal transaction fees, equaling 0.008 BTC per withdrawal.
Depending on the country of your residence, you might be asked to pay taxes on your IndoEx profits. Check your local tax regulations for more details.
In order to delete your IndoEx account, you need to get in touch directly with customer support in one of three ways: phone/Whatsapp, email or by submitting a ticket via web form, requesting to close down your account.
You can short on IndoEx by selling any asset you hold that you believe will fall in value. If this drop in price materialises, you can buy back the asset at the new lower price, pocketing the profit.
Simply click on the “Login” button in the header bar on the website homepage. Then click on “Forgot Password? This will prompt you to input the email address associated with your account, where a verification link will be sent with instructions on how to reset your password.
No, Paypal is not currently available as a deposit/withdrawal option.
To trade with IndoEx you must make sure you have a strong Internet connection before trading or exchanging your funds on the platform. If the web platform crashes, all you have to do is close it and open it again.
In the event that IndoEx ceases operations altogether, it does carry both third-party and co-insurer policies to guard against security breaches, hacks, and thefts of client assets, up to an unspecified amount.
Yes, simply log into your trading dashboard and your complete order history will be visible in the trading column at the bottom of your screen.
Yes, you can make deposits into your IndoEx account directly from your crypto wallet.
IndoEx occasionally runs trading competitions which you can sign up and apply to participate in. These offer various coin related and other prizes.
Go into the main app, click BTC > Select and Receive > Receive > copy address. Use the address to send and receive crypto from Coinbase.
No, while you can trade with a basic, unverified account with certain restrictions (withdrawal limits), you are still required to provide your legal name and email address in order to open an account.
Yes, IndoEx does offer an offline, cold storage wallet in which you can choose to store your crypto assets.
Depending on your account type, the withdrawal procedure will be different. But for a basic account, you can log into your account, go to your personal dashboard, and select [Withdraw] after you have entered the specific coin and deposit destination you would like to withdraw to.
No, at present time there is no publicly available information or disclosures indicating that IndoEx has ever been hacked.