CEX.IO Review 2021 – Scam or not?
CEX.IO the once cloud mining provider has become one of the most popular crypto exchanges by now, offering cross-platform trading options on multiple devices with high liquidity for the most popular cryptocurrency and fiat pairs. You can buy and sell cryptocurrencies as well as place orders on Cex.io from around the world. Margin trading is also offered on the platform.
About Cex.io
CEX.IO was one of the first Bitcoin trading platforms that appeared on the market. It was founded in London in 2013 as a BTC exchange and cloud mining provider. Its mining pool known as Ghash.io was so big it held 42 percent of the total network mining power at some point. Ghash.io closed its operations in 2015 and CEX.IO continues to operate solely as a Bitcoin exchange. Users from all around the world can trade on the platform, as the company provides services in 99 percent of the countries and 25 states in the USA. The company is a registered Money Services Business which enables them to provide official cryptocurrency exchange services for US citizens as well.
The company has been founded by Oleksandr Lutskevych who is also the current CEO of Cex.io Ltd. Lutskevych has over 15 years of experience on the IT tech and games industry, before the launch of Cex.io he was working as a developer and consultant besides being a private entrepreneur in his own projects. He holds a master’s degree in Cybernetics from Kyiv National University.
Review Contents
- Verification
- Fees
- Trading, Order Types and Trading Pairs
- Supported Countries
- Supported Payment Methods
- Ease Of Use
- Customer Support
- User Experience
- Exchange Security
- FAQ – Frequently asked questions about Cex.io
- Conclusion
Verification
Verification process on CEX.IO is very simple, and the exchange offers a detailed Verification guide to get the users familiar with the process.
There’s always someone from the support to answer the questions posted below the guide, which is a great alternative to opening tickets.
Requirements for Identity verification are following the industry standards:
- Personal information (name, gender, date of birth, place of birth, address and a phone number)
- Government-issued document (ID card, passport, driver’s license)
- Proof of residency (utility bill with the user’s name and address or a bank statement)
- Selfie and note with an ID document
- Social media profiles (not mandatory, but can make the verification quicker)
To pass the verification process you have to take a selfie of yourself, holding your ID document along with a handwritten note with the date of the submission and a text that ‘I am a Cex.io customer.’ This handwritten note is to ensure all accounts are opened on behalf of the individual submitting the documents and not based on stolen passports, so it is to ensure the integrity of the platform.
The verification process doesn’t take long but and it can take up to 24 hours depending on the interest of the public.
When it comes to trading, there are four different account types on CEX.IO with the following limits:
- Basic verification with ID – deposits are limited to $1000 per day and $3000 per month. In addition, there is no option to use SWIFT or ACH bank wire transfer with basic verification.
- Verified with address – unlimited total deposit is available with bank wire transfer funding option however deposits are limited to daily $3000 and monthly $30000 with credit card purchases and $200,000 / $500,000 with bank wire purchases.
- Enhanced verification – no limits for bank wire transactions, but credit card deposits are limited here as well up to max $100,000 per month with the enhanced verification where you need to provide selfie and bank statement.
- Corporate accounts – after providing company related documents, the account setup is the same for enhanced verification.
What makes the CEX.IO different from the competition is the ability to deposit funds with the payment cards.
Similar to the identity verification, the exchange has a Payment card verification guide with detailed instructions and a how-to video.
When the card is verified, users can deposit or withdraw the money in all supported currencies.
You can see the limitations of deposits and withdrawals here.
The exchange supports the following fiat currencies:
- United States Dollar (USD)
- Euro (EUR)
- Russian Ruble (RUB)
- Great Britain Pound (GBP)
Supported digital currencies include:
BTC, ETH, BCH, DASH, LTC, XRP, XLM, TRX, BTT, MHC, ONT, ONG, ADA, NEO, GAS, ATOM, BAT, XTZ, MATIC, WABI, LINK, ZRX, HOT, USDT, COMP, LAMB, DOT, ZIL, UNI, YFI, SNX, KNC, BAL, CRV, SUSHI, YFII, REN, OCEAN, KAVA, GZIL, TON, GLM, USDC, GUSD, AWG, FUN, UTK, 1INCH, RENBTC, RSR, MANA, LRC, DNT, CVC, XSGD, ZWAP, HAPI, MKR, UMA, OMG, COTI, AWS, AAVE
Fees on CEX.IO
The fee model on CEX.IO is one of the priciest in the market with a 7 percent fee for the direct trading with the exchange.
Their fee schedule for the peer-to-peer trading is based on the maker-taker model following the monthly trading volume in BTC. Both the maker and taker fee is lowered as the monthly volume grows. Taker fee is between 0.10%-0.25%, while the maker fee is 0.16%-0.00%.
Deposit and withdrawal fees vary between 1.2 and 5 percent of the amount transferred. You can see the complete fee schedule here. The fees are depending on the amount you transfer, the currency and which payment method you choose. It worth taking the extra time to go through the fee schedule before deposits and withdrawals due to the flat fees some method can be expensive depending on your circumstances. Generally speaking credit card payments are more expensive, but quicker payment options, while bank transfers are cheaper but also it takes more time to get your money.
When it comes to margin trading fees, they are fixed at 0.2 percent open fee, 0.04 percent rollover fee. There is close fee for any currencies on Cexbro – Cex.io’s margin trading platform and also you do not need to pay deposit or withdrawal fees in case of margin trading.
Trading, Order Types and Trading Pairs on CEX.IO
CEX.IO has a nice trading interface and offers the following orders:
- Market order
- Limit order
- Stop order
Large trading volume gives users plenty of opportunities to buy, sell and trade, compared to the exchanges with a smaller volume. The CEX.IO API is great, and it gives users control over their accounts by using custom software geared to meet their needs. The company supports trading with derivatives and futures and also offers margin trading in a number of trading pairs. Cexbro is currently in beta testing which offers CFD trading for cryptocurrencies for the selected testers. CFD, or Contracts-for-Difference means you can trade with digital currencies without actually owning them, only speculate on the price movements. CFDs let you trade with cryptos with low fees and quick execution. The trading interface is fully customizable with the charts and the various tools for analysis. Risk management tools help you to protect your profit or limit potential losses. It is also possible to try the demo account, so you can paper trade with your ideas without risking any money at the beginning.
Currently offered pairs are:
- BTC/USD
- BTC/EUR
- ETH/USD
- ETH/BTC
- BCH/USD
- BCH/BTC
The margin trading is possible with up to 100x leverage.
Supported Countries
All countries except: Afghanistan, Algeria, Bangladesh, Bolivia, Bosnia and Herzegovina, Burundi, Cambodia, Central African Republic, China, Cuba, Democratic People’s Republic of Korea (DPRK), Democratic Republic of the Congo, Ethiopia, Guam, Guinea Bissau, Guyana, Iran, Iraq, Japan, Lao People’s Democratic Republic, Lebanon, Libya, Mali, Morocco, Nepal, Pakistan, Puerto Rico, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Tunisia, Uganda, United States Virgin Islands, Vanuatu, Venezuela, Yemen, Zimbabwe.
Supported Payment Methods
- Bank Wire Transfer: SWIFT, SEPA, ACH
- Credit Card
- Qiwi, Skrill, Epay
Ease of Use
The website looks good, and all relevant info is always just one click away. The trading interface is easy to use, and generally, the entire platform is very user-friendly. The page load speed is excellent as well.
There are two main parts of the website: buying crypto instantly with Credit Card and a separate section for trading with various coins. Those who do not want to take a deep dive into cryptocurrency trading can easily use the instant buy feature, which is a real shortcut to buying crypto. You just select the fiat and crypto you would like to use for buying, enter the amount you would like to purchase, and after adding some basic details for verification you receive
your coins instantly.
The trading feature on Cex.io has more features along with multiple deposit and withdrawal options, this is also the place where you can sell bitcoins and other altcoins. The trading interface is still easy to understand and very user friendly.
The exchange also has mobile apps for both Android and iOS, which are available for download here. With the mobile applications, you have full control over your trading account as beyond analyzing market data and monitoring price changes you can also place and cancel orders and deposit BTC and LTC to your account. In order to link your account to the downloaded mobile app in a safe and secure way, once you got the app from Google Play and App Store you an generate a QR code on your profile page that you can scan with your phone and this will instantly link your Cex.io account to the app.
Customer Support on CEX.IO
This company can be proud of their support team. They answer quickly, with detailed information and you can find them everywhere – on the platform and outside it.
The support team even addressed the complaints on the review websites such as TrustPilot, showing that the company cares about the clients and, of course, its reputation. The team also answers to user complaints on the wide internet, whenever they find someone complaining or being frustrated, from time to time the support team answers in comments in various sites to ease the pains of their customers.
A small downside comes in a form of the canned responses, but even when this is the case, the response is detailed and provides all the information required by the user. In case you have a specific question, beyond the canned response the support team goes beyond and try to solve your problem as quickly as possible.
User Experience
The majority of complaints online is related to the hidden fees and high exchange rates. CEX.IO really struggles with online reviews and has somewhat bad reputation only due to the problem with the fees. Everything else works like a charm, but users are quick to judge, which could cost the company in the long run.
And indeed, their price is above the market average when it comes to buying bitcoin, however, you need to factor in the convenience part that Cex.io has a very streamlined process with verification and automated instant purchases with a credit card, which on the other hand costs more. If you opt to use bank wire deposits, you can mitigate some of the costs applied by the exchange.
Security
The security seems good on the Cex.io exchange. Two-factor authentication and a security question are used for account protection.
The majority of coins are stored in a cold wallet. The exchange also offers SMS and email alerts. PGP encryption isn’t used in emails.
The latest hacking incident happened in 2013 when the exchange was young, and it ended with a loss of $7,000 for one of the users. The vulnerability was immediately patched, and since then there were no problems.
FAQ – Frequently asked questions about Cex.io
- Is Cex.io safe?
- Does Cex.io require ID?
- Is Cex.io a wallet?
- How do I withdraw money from Cex.io?
- How long does it take to withdraw from Cex.io?
- Can I buy bitcoin at Cex.io using credit card?
- How do I transfer Bitcoins from Cex.io to my wallet?
- Does Cex.io accept prepaid cards?
- Does Cex.io work in the USA?
- Can I trade bitcoin at Cex.io?
- How do I buy bitcoins at Cex.io?
Is Cex.io safe?
Cex.io is one of the oldest bitcoin exchange running since 2013 without any hacking incident. The company has a Money Serving Business License issued by the FiNCEN authority, hence allowed to operate completely legally in the United States and in 180+ other countries. Although the company’s reputation is quite good, it is never a wide choice to keep a large amount of money on crypto exchanges as they are always vulnerable to hacking risk. Only keep that much funds on a third party exchange which you need for your everyday trading activity, keep your long term investments in offline, cold storage wallets.
Does Cex.io require ID?
Although for signing up to Cex.io you do not need to provide an ID card, but if you want to fund your account and start trading you are required to verify your identity and residence to be able to comply with anti-money laundering regulation. If you provide them an ID you can deposit, trade and withdraw up to 3000 USD monthly with credit cards, further documents of proof of address open up your account to higher limits and additional payment methods, like a bank transfer.
Is Cex.io a wallet?
Cex.io is a crypto exchange that also has a built-in wallet. When you buy bitcoin on Cex.io, the coins are deposited directly to your Cex.io account, aka to your hot wallet. This wallet is in the possession of Cex.io, they only maintain your balance. Since you do not have access to the private key of this wallet is it suggested to withdraw the amount of bitcoin you wish to hold for long term to a proprietary, offline wallet where you are in full control of your coins.
How do I withdraw money from Cex.io?
You can withdraw USD, EUR, GBP and RUB from Cex.io in various forms: to your previously used credit or debit card or to your bank account using SWIFT or ACH transfers. The commissions vary based on the withdrawal method you choose, ACH is free, SWIFT transfer cost $25 + 0.3% flat fee, card withdrawals have a flat fee of $5 with an additional 3% processing fee.
How long does it take to withdraw from Cex.io?
Withdrawals on Cex.io are processed in 24 hours on business days. In case you have initiated a withdrawal on the weekend it will be processed on the next business day. Domestic bank transfers take 1 business day, international transfers take 1-3 business days to be credited to your account. For safety reasons, new users are not allowed to withdraw from Cex.io within the first 48 hours of their account creation.
Can I buy bitcoin at Cex.io using credit card?
Yes, you can buy bitcoin on Cex.io using a VISA or Mastercard credit card or debit card. The amount of bitcoin you can buy with a credit card is depending on your verification level, however the maximum is 100,000 USD monthly that are allowed to purchase with a card. If you need more bitcoins, then you have the option to use bank transfers. Cex.io charges a flat fee of $5 + 3% for each bitcoin purchase with a credit card.
How do I transfer Bitcoins from Cex.io to my wallet?
Beyond fiat currenty you can also withdraw bitcoin from Cex.io. Go to your wallet in your Cex.io account, select bitcoin, add the amount of bitcoin you wish to withdraw and finally enter the bitcoin address where you would like to transfer the Bitcoins from Cex.io. Make sure the address typed in is a correct bitcoin address as after submitting and confirming your withdrawal via email, the transaction is irreversible.
Does Cex.io accept prepaid cards?
Technically yes, but most transactions with prepaid cards are usually failing on Cex.io. A prepaid card is not connected to a bank account therefore card issuers have stricter policies on how the users can use the prepaid cards for online payments for the safety of their clients. In most cases, prepaid card issuers restrict crypto purchases, which result in your transaction being canceled on Cex.io. We recommend you using a debit or credit card, or alternative payment method, like a bank transfer when using Cex.io for purchasing bitcoin.
Does Cex.io work in the USA?
Yes, Cex.io is a fully compliant crypto exchange that is authorized in the United States to provide money-related services to US residents. Cex.io obtained a Money Services Business lincense, from FinCEN (bureau of the US Department of Treasury) in 2015 and has been compliant with local regulation ever since then. CEX.IO Corp is the US entity servicing US customers.
Can I trade bitcoin at Cex.io?
Yes, beyond buying bitcoin you can also trade bitcoin on Cex.io against fiat currencies or other cryptos. The trading fees are decreasing by the monthly volume you trade on Cex.io. Below 5 BTC monthly turnover the maker-taker fees are 0.16%-0.25%. Additionally, Cex.io recently introduced Cex.io Broker, a CFD based margin trading platform with professional trading tools.
How do I buy bitcoins at Cex.io?
There are two ways you can buy bitcoin on Cex.io. The quickest option is to buy Bitcoin with a credit card directly on their Buy-Sell page. Here you need to enter the amount of bitcoin you would like to purchase, the current bitcoin prices refreshes in every 30 seconds. Once you hit the buy button, you need to enter your email address where you will receive the confirmation and you are directed to a secure page where you can enter the credit card details. Once all the details are provided and confirmed your bitcoins will hit your wallet. This service cost 7%. The other option you have is to create an account at Cex.io, verify it with providing an ID card and a proof of address, then fund your account using credit card (fee: $5 + 3%) or bank wire transfer (no fee). Bear in mind that bank wire transfer can take up to 3 business days to be credited to your account, and you can only purchase bitcoin with the funds available in your wallet, so you have to wait in this case until the funds are credited to your account.
CEX Review Conclusion
CEX.IO is on the market for quite a while and has a pretty high trading volume. Their instant cryptocurrency buying option offers a great start for newbies who are just getting around in the crypto market. For experience trader, their trading platform offers all the features and order types along with substantial liquidity that would be needed for a completely good trading experience.
The exchange definitely could do better in terms of communicating (or even lowering) their prices. The fees are above compared to many other exchanges and there is a relevant number of consumer complaints about this for CEX.io.
But still, they offer their services in a huge number of countries, have high trading volume and support various FIAT payment methods to enable people around the world to purchase Bitcoin and other altcoins all around the planet. If you do not find something better in terms of fees or you need to buy coins instantly, you should definitely give CEX.io a try.
Pros
- Reliable order execution
- Supports Wire Transfer and Credit Cards
- Instant buy option of coins
Cons
- Premium on prices
- Support’s canned responses
- Verification process is a bit demanding
CEX.IO is a big SCAM…BEWARE!!! They stole 6200 eur of my Money and i send this case too the police investigators…They will not withdraw your money or they will hold it for a loooong time (because they have 2 USD/EUR per day fee for Storage + fee for all other stuff)…they have “problems” with visa card 😉 that they don,t need too pay out… BEWARE!!!
Cex.io is most likely a FRAUD, so be careful with the money you give them. I decided to withdraw some money (~500€) from cex.io after selling some btc. Withdrawal was pending for a while then finally got approved, charging me the exorbitant 25 euro. I waited 3 days for the money to reach my bank account but that never happened, despite having the “transaction sent” status on cex.io. I asked them via email to send me the receipt and guess what? Instead I soon received an email about the deposit I supposedly made to cex.io, which of course I didn’t. It was the exact sum I was trying to withdraw, minus the 25 euro in “costs”. It did not bounce or get rejected in any other way, I checked it with my bank. So the money is back on my cex.io account and what am I supposed to do now? Withdraw it again and lose 25 euro AGAIN? This is theft to me. I have sent another email asking to return my 25 € for the transfer they failed to do, we’ll see how it goes. Meanwhile, beware of cex.io, you may never get your money back. They will readily accept deposits but will not let you withdraw anything. In case they still want to save their face, here’s my user name up105633573 If anybody wants evidence, I can provide the full email exchange I had with them so you can see how they’re doing everything to delay, postpone and avoid facing the fact their gambit did not work.
Also, as long as I don’t get all my money back, I’ll be sure to post this information anywhere I can to prevent other people from getting scammed.
Cex.io bandit or fraud ? My user id is up 115119944. I send money to cex.io and bought ETH and want to test it transfering coin to bittrex. Transfer requested more than 40 hour before, and still not reached. Filled two letter to cex.io support and only response was their letter stating they got my complaint and i should be patient. Want to test it can i withdraw my money from cex.io. And showed that it is not possible too… Cex.io bandit or fraud ?
I worked for Cex but left because I just couldn’t stand their ethos. The people who run this company are completely disorganised…they have nowhere near enough staff to do what needs to be done and won’t hire more because they won’t pay! All they’re interested in is making money. They don’t give a sh*t about customer service and openly talk about clients as if they’re complete idiots to be ripped of at will. Every single one of the positive things you read here has been written by the owners themselves. I know the people who did it! They are just trying to save their reputation. I would stay away from Cex. There’s a good chance you will never see your money/crypto again, and if you do it will take you months to get it.
I have been trying for over 2 weeks to get help with access to my account after my phone was lost and with it my 2FA…They send a standard email and when you follow the instructions they do nothing and dont contact you back.
I have BTC sitting in my CEX wallet and cant do a thing with it.
From analysis here, most complains are bots and are from competitors. Just check the language used, a clear pattern. Anyway, i have deposited over $500 with no issues. It took few minutes to get my credit card approved. Buying and selling is almost instant. The SMS verification is immediate. Upto now i see no issue with CEX.IO
you are nuts its a total scam they won’t give my usd back. its been over a month!
Avoid CEX.io
Long money deposit times, and very high fees (hidden of course).
cex is a SCAM.
I deposited 800€ over two weeks ago and my money is nowhere to be seen.
There is no customer support. Nobody answer my tickets.
Money stolen by cex.
They pretend to be an exchange but they are thieves.
If i do not get my money back on this INSTANT withdrawal to card I will start collecting names for a bigger class action suit against them. It’s embarassing not to be able to withdraw 230$ on a credit card. It’s been a day for me and I am boiling at this point. I also see people saying the words weeks and months. I cannot do weeks and months that’s why i chose direct to payment card with the fee included.
Customer support is 0 but they say customer support should be contacted in case of withdrawal problems. Maybe others had good experiences with them but I think now that they have upgraded they just could not scale it up.
All users, I am in the same boat with most of you. However, I did not see anyone actually contact the authority to start investigation. I really want to know what can we do? I think all the money add together from the users in this platform equals to tons of money.
cex.io is a scam. Money never gets deposited.
They don’t answer emails.
Thieves.
Hi
I sent them 8.46 ETH 1 month ago they never got in my CEX.IO account apparently they have problem with smart contract but it can be solved. However support does not do nothing to support to fix this issue. I keep sending ticket to them and they close it without solving the issue? I wonder if they are a scam…
I have not recieved my withdrawal FOR EIGHT MONTHS!
I’ve been emailing as much as i can and they are not responding to me!!
CEX.IO IS A SCAM
Avoid them at all cost. They will only let you deposit money and you will never be able to withdraw your money.
Avoid at all cost!
Worst customer support ever, sending users generic meaningless replies. Borderline dishonest as even when problem with ETH withdrawal had been known for days they kept accepting transactions, resulting in many users’ funds stuck in a total limbo. Very unprofessional
I’ve been using CEX.IO for the last 2 years, albeit not too often. Neve had a problem with depositing money from my verified credit card (transfer happens in minutes) or transferring coins out of the exchange, aside from the current ETH situation which is not their fault.
Haven’t tried withdrawing fiat yet though… hope my luck holds.
Fees are high, yeah.
I have been a very happy user of CEX and recomment its use. I have bought and sold bitcoin and ethereum without problems. I have withdrawn to BTC, ETH and USD without any problems. USD withdrawals arrive in my bank in 48 hrs to the dot. Only once I have requiered support and it was due to 2GA de syncronization and they replied within 30 minutes. Happy with CEX!
It’s literally impossible to withdraw funds if I couldn’t receive the codes via sms/call. Opened several tics but it’s either automated or no reply. The forever invalid 2FA codes whixh i didnt have a ptoblem with only this site! Asked to restore access to my acc and they asked for proof of identification which I’ve complied to but again no response! This company is only gonna respond fast when it’s about depositing money and make it virtually impossible to withdraw! Beginning to look alot like a scam, refusing to reply when it’s regarding withdrawal and absolute zero customer service. Why???
The support OMG, I have been using this service for about a month now I ran into two issues so far which is normal nothing to blame them for. However if you every use this service expect MASSIVE delays on support and reply from them. To be honest expect anywhere from 8 days up to INFINITY to get your issue resolved and the first reply to your ticket will be within few days which is useless telling you we received your ticket be patient WTH.
Stay away if you can
Hi, I am have been having problems with CEX also & they are very insulting.
They have no problems taking money out of my credit card & bank card, but they have a fuc%!ng excuse every time when I ask them to withdraw. Then I asked them why can’t I send my bitcoin to a
different wallet they don’t even answer the question like I didn’t ask it!!
The keep claiming it’s the Bank, Violation of law but when I call my bank they say everything is fine.
I will be filing a report to the police also to have these FRAUDS shut down.
It’s these type small minded theifs who give crypto-currencies a bad reputation & slow down the potential growth. Why would I ever want to invest in crypto after having an experience like this & possibly loosing 800 bucks? I would much rather keep my money in my trading account even if it is in the hands of greedy bankers. I’ll stick with the devil I know for now instead of the one I don’t lol.
I’m so upset because I love the idea that is being pushed forward by people like Andreas Antonopoulos, but cex just killed my vibe seriously.
GOOFS
Tip: 15ZcWDmPfN3pUPueSZG8ADeqpupLZD99nt
Unfortunately CEX.IO LTD is a scam. I got at the same situation with verification and withdrawal of money like many other their customers. Today i have reported about fraud to the British police and proveded them all evidence of crime. I hope that other victims of cex.io scam will complaince asap to the police too, so it may help to escalate the process of police investigation.
Don’t use if you are American. The interface is nice. But you can’t withdraw your money if you live in the United States. The only option I haven’t yet tried is the Crypto Capital withdrawal and that’s through a sketchy company in Panama with a history of stealing people’s money.
Dont use this exchange, I purchased BTC from them and they have been holding it for 5 days now. In that time the price of BTC has dropped by 600 dollar! This article must have been written a long time ago as their support is slow / non existant, they hold your money without a proper explanation. Is just a matter of time before all their users get screwed in my humble opinion. Spread the word, this exchange is a scam and will probably get shut down sometime.
Tickets logged (369676 and 365247), unhelp responses and I still dont have my money
End of this article states “The exchange definitely deserves better online reviews” Really??? Author please try get a support response from them in 2017 thats worth its salt, or try withdraw funds from their site
Yours truly,
up109007493
This site should not be trusted. They allow you to deposit money and trade bitcoin, but when it comes to taking your money out, they do not allow this. At this point in time I have been trying to withdraw my money for the past 8 days to my VERIFIED account, only to have it rejected every time. steer clear,scammers. hallmarks of an exchange that does not hold enough capital to meet its liabilities.
There are scammers.
All of their withdraw options don’t work. And instead of helping me, they encouraged me to buy bitcoins back from them and pay another 15% commissions.
Easily the worst exchange on the internet.
By keeping this article published, you are assisting this company to steal money from investors EVERY DAY!!!
For God’s sake to some DUE DILIGENCE!!!!!!
Are you in collusion with this company?
How can you post this completely Wrong article!!!!
You only have to READ the comments here to realize how WRONG your assessment is!!!
They do not “ADDRESS” user complaints’ they only RESPOND to them with vague promises to do things which never actually happen!!!
IT IS A SCAM and IDENTITY THEFT SITE!!!!
They run a small number of actual clients to give the Exchange a semblance of legitimacy, the rest of investors get scammed and their funds stolen!!!!
RE-WRITE THIS REVIEW OR AT THE VERY LEAST REMOVE AND DO SOME REAL RESEARCH!! INSTEAD OF JUST READING A FEW MESSAGES FROM THE COMPANY AND ASSUME THEY ARE LEGITIMATE!!!!
CALL YOUR SELF JOURNALISTS???!!!!
TRUSTPILOT REVIEWS – https://www.trustpilot.com/review/cex.io
EXCHANGE REVIEWS AT CRYPTO COMPARE https://www.cryptocompare.com/exchanges/cexio/overview
MORE REPORTS OF THEFT AT Bittrust http://bittrust.org/cexio
You arrive at their site and see a big shiny “buy” button. You buy BTC. You’ve paid them a whopping 7% fee.
If you want to pay the much lower maker/taker fee, you must not click on “buy” but “trade”. However that’s not explicitly stated on their website.
Sorry but if cex.io offers 2 ways to perform an action and one has 7% fee and the other almost nothing, they’re blatantly tricking people.
CEX.IO SCAM SITE. nOT POSSIBLE WITHDRAW YOUR MONEY
Absolute Garbage exchange, none of their withdrawal options work, they block you from withdrawing money on a whim.
It has been 5 months since they stole my bitcoins, cannot withdraw a penny, they tell me now I have to but bitcoins from they and pay them another 20% commission.
They are lying cheats, DO NOT FALL FOR THIS SCAM
oCT 15 2017 5:33 PM I made two trades one for my ethereum to be transferred, which went well then made a bitcoin deposit into my CEX.IO account for 203.08 and it said completed but the address was split into two parts and their systems allowed someone to steal all of my money from a transaction. Just a head up, I have been using coinbase and CEX.IO for a long time and this has never happened. This is just a point that your money can be stolen from you on sites like this and there is nothing they will do to help you. They are just as greedy as the central banks of the World you just don’t know it yet.
If I could award them negative stars I would have!!
Buyer beware: I have had a horrific experience with CEX.IO. The have a spread when buying and selling BTC which all exchanges have and is normal, but then they charge you about 7% commission on top of that. I sold my BTC and then requested withdrawals to 2 banks, they showed sent on August 24th. 2 weeks later I received the smaller one, it started out as $848.00, they deducted $50.00 for a wire fee (way higher than any other exchange, that should have left $798.00, but I only received $717.00, $82.00 less than I should have received, they claimed that my bank charged me fees, but I checked with the bank, they showed me proof only $717.00 was received, so what I was told by CEX.IO was completely false.
My second wire for $3,036.00 never arrived, they kept on making excuses and then today, 6 weeks after the supposedly sent me the wire the refunded the money into my account, they said without fees, but my $3,036.00 refunded was only $2,927.00, $89.00 less. In order to get my money out, I bought BTC, which again cost an exorbitant commission, which I was forced to do based on their failure to send me my money that they claimed they had until they refunded it to me.
So of my original money of around $4,500.00, I paid them over $600.00 in commission plus $50.00 for the one wire plus $82.00 and $89.00 short on y wires so I ended up being charged over $821.00 in fees which is almost 20% of my money.
I strongly caution people to not use this exchange unless you are ok being ripped off.
Beware of these scammers. 3000 euros were transferred to them on 19th July 2017 by SEPA and that’s it. They just stole the money! Avoid to deal with this scam company at any cost if you want your money to be safe!
I’m having similar issue: I deposited some fiat and still in pending state on their side. I asked my bank and they sent the money two days a go. I created a ticket with them and they supremely answer after my second attempt and this is what they answer:
“Please, note that it can take up to 14 banking days for the banking system to process with your payment. Thus, we kindly ask you to stay patient. ” How can I stay patient when they use my money for enriching themselves. I would have accepted this answer 10 years ago but nowadays the bank transfer to take 14 days is highly suspicions.
I’m very disappointed I did business with them, in any case it will be the last time.
Beware this company is a scam and take all your money, withdrawal EUR185 and charge EUR50 for withdrawal fee~!! it take 3 weeks to be in my bank account left EUR135!! and avoid and dont use this
It took me awhile to get established as a business account with Cex.io but I’m most happy I went the extra mile to get my account activated. Remember they also have to do their due diligence in dealing with all these accounts as well and I don’t imagine it is any easy task dealing with all this… I found their support team to be most helpful more so than some of the other exchanges. I feel safer with them and look forward to working with them as they add more alt coins to their site.
I was scammed too. I tried to transfer coins to another account but was not able to be verified because I am in the United States, which they can’t regulate. I submitted a ticket asking how to transfer coins out of CEX, but it took weeks for them to answer and by the time they answered, the price of my coins had dropped to half! I feel like I got SCAMMED.
I’m also experiencing a very bad support from CEX. I sent all the required information and pics to approve my credit card, I don’t receive any answer from them. I complained about it , but I only received the authomatical email. I’ll cancell my account right now. Luckily I didn’t make any money movement with them. Imagine I had problems related to my cash and they don’t answer. I can’t trust them. By CEX!
I have to say CEX provides the worst support you can imagine. They simply don’t care. I would stay away at all costs. It is just frustration.
Have any of you who left comments about not being able to withdraw funds been able to since?
Dear users, we are terribly sorry for your negative experience with CEX.IO. Delays with ticket processing and verification are connected with a huge inflow of new users. We are fighting the overload of our Support and Compliance departments to ensure smooth operation. You can read more about it here:
https://blog.cex.io/news/lifting-ticket-verification-systems-cex-io-16228
If you are still experiencing issues with CEX.IO and have unanswered tickets, please provide us with your User ID and ticket numbers, we will try to solve them ASAP.
I had before good experience with CEX.IO, and everything was ok until 1 month ago on my SEPA withdrawal.
They stopped answering and claiming everything will be solved. After much insistence on my side, after 15 days they asked me for documents to justify the sources of my funding. They made me fill a document will my personal data, my wages, where I work, my social networks, others.
I filled the same on the very same day. Until now I got no response to my multiple emails. I even asked them if they need any other document. Silence was what I got (10 days ago)!
It’s strange, that when the questions to support are others than withdrawal, they reply in a few hours. So, they are clearly avoiding to answer to these subjects.
CEX.IO, if you’re reading this, it’s my last resource before going into legal on your operation country and joining all the other users that are complaining. I kindly request that you solve my problem.
Tickets:
– 252547
– 221841
I moved the 3 star to 1 due to the complete lack of communication and I will update this review as it progresses and I have feedback from CEX.IO.
[UPDATE] – This process started in end of May, with me withdrawing amounts of ~12k EUR. My account was previously certified.
[UPDATE] – 25 Jun – CEX.IO – Closed / merged some tickets. Not very important to me, but this clearly improves the support metrics on open subjects.
[UPDATE] – 26 Jun – CEX.IO – Rejected all my withdrawals with no information why. Now they reseted the process.
[UPDATE] – 26 Jun – CEX.IO, requested even more details. Personal opinion, it seams like they’re finding excuses to postpone the withdrawal as they had previously all the information
[UPDATE] – 29 Jun – CEX.IO, replied with their traditional message “that they have personally requested the compliance department,….”
[UPDATE] – 29 Jun – CEX.IO, Asked again documents I’ve previously shared. I’m almost sure they will ask again any other document (even any other I might already have sent).
[UPDATE] – 3 July – Official. I have the ticket open for 1 month. Always a different excuse in a never ending asking of information. So far I have provided, a real copy of my bank statements, my work details, all my email addresses, my wage, any sources of income, details and transactions on other exchanges. Now they started to ask information they have asked before saying that they could not find the details in the documents.
From Jun 26, that I don’t have any other contact from CEX.IO. I believe they run out of excuses or they are trying to find something new to request me. They haven’t even replied to my trust pilot previous feedback.
Best
A lot of people complaining they are not approving their credit cards and bank accounts and no answer from support, me included.
Stay away from this company. i cannot withdraw my funds!
Hi
I am also lost with them 430 Eur i send to support many emails but to now no answer one week gone ans no answer from them i don t know what i have do i am really nervous
i thing i lost my many and this company are scam 100%
I tried to open an account with CEX. I clicked on their ad “buy ETH at EUR 150” and provided a credit card for EUR 400 (and not good for a penny more, I may be crazy but I’m not stupid). Three weeks later, with ETH trading at 327, they are still not replying to my mails or requests for support. Live chat has disappeared from their website. The only thing that’s not making scream that they are a scam is that they haven’t charged my card.
It is over 1 month that I sent 1000 euro deposit from my mother’s bank.
I did not know that it is not allowed to get deposit from third person. So cex.io did not deposited the money to my account.
It has passed over 30 days but we still have not got the money back. The support don’t answer my mails.
I have been trying to withdraw my funds from CEX.io for several days. I can’t get my money out. Does anyone know if there is a regulatory body for these exchanges. I get pre-canned responses, but cannot get my funds returned.
This company is horrible! They won’t allow me to withdraw my funds! They lied about selling bitcoin to cash and withdraw using a Bank Transfer, then withdraw using Crypto Capital. Their customer service is a sham and can’t even provide a coherent sentence addressing the problems. I think they are going to steal everyone’s money. They should be investigated and shut down…