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Forex Trading

Mercatox Review: Is it safe or a scam?

By 27/12/2021November 7th, 2022No Comments

This exchange is known for providing cryptocurrency trading services for a 0.25% fee on all trades. The platform permits traders to trade more than 100 cryptocurrencies. Traders from all over the world can access a wide range of currency pairs along with a multi-currency e-wallet. The platform is basically established to match buyers with sellers. Mercatox is an emerging cryptocurrency exchange that seeks to attract customers from all across the world with its unique features and cryptocurrency trading services. Besides being user-friendly, the Mercatox exchange is also available in multiple languages like English, Russian, and Chinese.

mercatox exchange scam

Mercatox is a cryptocurrencies exchange that combines automated trading, payment service, peer-to-peer sharing based on smart contracts. Read this Mercatox exchange review and learn whether is Mercatox safe or not. You can find fees, payment methods offered by the broker. I tried to exchange my coins into another one and both of them are supported by it. Tried to contact their customer support, filed a ticket and they responded once.

Mercatox Review: Conclusion

Mercatox is seeking to attract customers from all over the world by offering them a platform in various languages such as English, Chinese and Russian. It has developed simple to use platform that let traders trade mercatox exchange reviews multiple crypto coins. Traders can view prices from both the e-currency market and the cryptocurrency markets. Mercatox aims to offer a modern service for trading and exchange of more than 100 cryptocurrencies.

If you want to use this platform, then do so by only investing the bare minimum money and test them out. If everything works out fine and they suit your strategy, then scale things up, but do remember that there are better alternatives out there. Nonetheless, if you have experienced significant financial loss due to this firm, then feel free to comment down below and we will try our best to help you.

It seems as if the trading volumes are very high, but if you look at the history market you’ll see trade insanely big sells and buys just above or below the lowest and highest bid to lure people in. Still to this day cannot pull it out or trade it to another token. Customer robot email support says they are working on the issue and will let us know when it is fixed. We have listed above their minimum deposit requirement related to each coin. In some cases, if you send less than the minimum amount your funds will be lost. No, Mercatox is a new cryptocurrency exchange, which is still in its infancy stages and thus is not regulated.

Many reputable sites like FXempire, Coinintelligence and Insidebitcoins have done posts on them. The registration information is hidden from the public and the lack of transparency always resonates in a bad way in our books. It would have enhanced their profile, if they were open towards the clients and given the fact that they are unregulated, the lack of details just ignites nothing more than chaos. Not to mention, the user feedback about them for the most part is also not that great and there are many things about them you need to be aware of before opening any positions via their platform. Range of trading instruments available is also more than adequate, but just like every exchange out there, this one also has its own set of merits and demerits. Therefore, Highway Media Group doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

Can This New Token Presale 100x?

But if long time disable any token withdrawal so it is majar issue. You can Genrate Support Ticket and contact him exchange support team . You also withdrwal your token other ways like you sell you doge token and buy TRX then you withdrwal all fund . After conducting some research on various social media platforms , as well as online trading forums, a general theme emerged where users were dissatisfied with their experience with Mercatox. Based on this user feedback, it appears that Mercatox is not a trustworthy broker, and hence, extreme caution should be applied before investing through their brokerage platform.

Forexbrokerslab is my personal blog where I compare reliable forex brokers. I’ve been in forex trading since 2009 and I’m still learning. I have traded with the most popular forex brokers, including the most unknown ones in any regulation and many different account types.

Mercatox exchange is located in the United Kingdom; however, users worldwide can access the exchange. Users can see the full list of supported currencies and countries on the exchange’s website. This feature allows traders to make money without crypto trading.

mercatox exchange scam

This order prompts the users about the maximum price of cryptocurrencies to buy or their minimum price to sell. On their site, Mercatox touts that they offer “unique currency pairs.” They have listed a number of more obscure alt-coins alongside the more well-known currencies like bitcoin, ethereum, dogecoin, and dash. – a blog which has been spreading awareness regarding online crypto scams since 2020. They will also pair you with a cryptocurrency recovery company that will help you get back the money you lost. Every exchange has a unique dashboard and trading view and it is up to the use to really decide which one works best for them.

Mercatox it a scam

We also ensure all reviews are published without moderation. Few years ago im try using this exchange is on 2019, no isue on those time then now feb 2021 started to use again. Don’t use this company if you want to access your account. I star with 200 after i did the transfer they ask me 500 to payme the profit. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence.

  • Therefore, Highway Media Group doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.
  • After conducting some research on various social media platforms , as well as online trading forums, a general theme emerged where users were dissatisfied with their experience with Mercatox.
  • Traders from all over the world can access a wide range of currency pairs along with a multi-currency e-wallet.
  • They had a huge Nano hack back in the day and I thought that was the end of the exchange.

There are 55 coins in maintenance that if you have coins in you have no access to them. Yet they continue to add new offering to the exchange. I have made well over 100 support tickets to get them to take my coins out of maintenance so I can remove the coins from this exchange. They only respond with the same comments over and over It has now been 5 months and now they just ignore me. SHARE THIS WITH EVERYONE. No support and you will lose your coins.

If you want to build a popular and legitimate exchange do not just blame the customer for fraud . As demonstrated by the other comments, I am not the only one getting scammed by this exchange. Have been drafting my complaints and finding out where to serve him. First off, of course I refused to cooperate, you wanted me to use my own coins to repurchase the amount that you lost. Second, I withdrew no amount above the ~38000ZRX I deposited. Third, you liquidated my account with any appeals process, denying me of property that is rightfully my own.

Personal Data Protection

Mercatox separates the verified from the unverified accounts. Owners of the unverified accounts can only make withdrawals to a specific limit using only bitcoin. The trading process here deals mainly with crypts and their different types and form.

Many Mercatox reviews state that they are relatively slow in their response although very helpful. It supports fiat currencies such as USD, Rubies, and Euro. But, it doesn’t have a mobile trading application, has low trading volumes as well as liquidity. Deposits and withdrawals are done in several ways mainly using cryptos yet no options for credit or debit cards, bank wire transfers, or e-wallet funding. For example, if verified account holders can make 5 bitcoin per day, the unverified account holders can withdraw 0.5 bitcoin per day. The broker seeks to attract clients from all over the globe with a specialty in crypto trading and special features presented.

Mercatox Review: Pros and Cons

Mercatox exchange emphasizes on their website that the security of the customer has a high priority. However, unlike others, they do not specify which safety measures they use but advice their customers on how to keep their accounts safe. Majority of the user feedback about this exchange is concerning and people generally seem to have faced crucial issues with them. For clients that have not verified their details, a withdrawal cap of 0.5 BTC is applicable and for verified clients, withdrawal cap only hits if they try to withdraw more than 5 BTC in a day.

With its proprietary web-based trading platform, traders can easily set the price, order type, and the amount combined with the direction of the trade. The platform permits traders to view the transactions history in the order book window. Margin trading is also available on this platform and it permits traders become a lender.

Mercatox plans to allow traders to get funds for margin trading along with providing sources to invest and earn income on the loan. It is seeking to offer P2P lending facilities in the coming days. It also offers E-wallet for commercial and personal use. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.

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