EQONEX Exchange Review 2024

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EQONEX was established on May 26th, 2020. It is categorized as a centralized crypto exchange website based out of Singapore. The parent associate firm is Diginex limited, the primary business organization listed on Nasdaq with a crypto exchange statement. EQONEX functions out of Singapore with leading executive administrators such as the platform’s CEO, Richard Byworth. It is operating under an interim dispensation from the Monetary Authority of Singapore. Currently, it is awaiting a verdict for the Money Services Act licensed order.

The platform’s initial native token, ‘EQO’ was introduced to investors and went live on April 8th, 2021. Associates of EQO token receive numerous profits, including diminished trading fees, admittance to prospective airdrops, and staking bonuses. Furthermore, the collateral against derivatives transactions and enhanced interest for crypto lending brand EQONEX as a lucrative offering. To know every detail of this platform, read the EQONEX exchange reviews thoroughly!

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What Is EQONEX?

The EQONEX group for digital asset exchange approaches the widespread uncertainty administrators within the crypto ecosystem. The exchange website executes a reliant KYC/AML mandate, crypto exchange assets derivation restraints, enhanced and protection peculiarities.

How Does EQONEX Exchange Works?

Once the client is admitted into the platform, they need to go to the spot trading feature to authorize trading activities. The company wallet needs to be selected, and the client can choose to either withdraw or deposit. In the order book, investors can choose three different systems: Market Orders, Limit Orders, and Spot Trading Orders. This is authorized with the Time Form option. The order book offers all the accessible orders in the current market trade. Additionally, it gives users the access to look into their order history.

Features of EQONEX

Many EQONEX exchange reviews support the following features:-

Robust Governance

The crypto exchange does not authorize any internal market makers. All clients on the platform, be it liquidity providers or corporate traders, are using the same trading information. The trading platform does not profit from its own trades and administers periodic exchange inspection to depreciate the uncertainty of exchange manipulation. The platform has Tier 1 Jurisdiction regularity that functions without any legal control from the Singapore Payment Services Act. However, the trading platform has petitioned for complete autonomy and licensing permits.

Institutional Architecture

The exchange is affiliated with reliant third-party liquidity associates compared to other exchanges. Their affiliates are the most notable trade profit makers in the crypto ecosystem. This partnership guarantees genuine liquidity services and fixed spreads at all times. Every institutional account partnered with EQONEX administers segregation of service hallmarks, which admit warrants for admin/AP and deposit/withdrawal authorities.

Innovative Technology

The platform has inbuilt technology-forward conformities, such as API TestNet, Fix 4.4, WebSocket, and Rest API. The API TestNet hallmark is an access service tool that is expansive for trial programs while linking up with third-party authorities. The cryptocurrency exchange platform EQONEX grants an industry-approved API, ‘FIX 4.4’, a digital funding industry-reliant tool known as WebSocket, and endless sessions of REST APIs.Additionally, a CCXT certification is ready alongside the in-house alliance backing.

Capital Efficiency

The platform gives clients the opportunity to accomplish and operate spots and futures from their trading account compared to other exchanges. The exchange platform is aspiring to allot cross-collateralization, which will allow clients to use stable coins and other crypto-asset profits such as margins for leveraged crypto exchanges. Retail traders can profit from its Isolated margin traits as well. The isolated margin characteristic uses sub-accounts to a definite amount of crypto assets as a perimeter. This stance enables a selective trading position or federation of positions. The independent trades authorized are done out of the additional account holdings and pose as a separate entity of uncertainty. An EQONEX client has added the benefits of optimized liquidation valuations. Investors obtain the most beneficial prices for trade liquidation orders. In scenarios where the execution output is greater than a Zero Price, the clients acquire any margin profits left in their EQONEX trading account.

Is EQONEX Regulated?

The exchange platform EQONEX has the ability to be the most reliant component of a crypto trading website. The cryptocurrency application implements a high-grade regulated operative for risk factors and a protected marketplace with fairness for all clients, which suit both institutional and retail investors.

Products Offered by EQONEX

The Exchanges offers the following products:-

Perpetual Futures

The leveraged-based peculiarity manages investors’ uncertainty exposures with moderate leverage purposes. The transparent fee levels for this product feature of EQONEX are based on the trade capacities. The more the user administers a trade, the lower fees they have to pay. Clients of EQONEX can also benefit from the most freely unrestricted liquidation prices. Through this hallmark, users will obtain different holdings when the performance value is greater than zero. The product offering also administers integrity to clients to experience dogmatic KYC and AML conformities. All the incoming digital assets are governed by blockchain-derived remittances, which ensure every asset exchanged is bulletproof. This product of EQONEX administers USD/USDC fungibility. This allows clients to deposit, exchange, and withdraw either USD or USDC trades at a ratio of 1:1.

Spot Trading

As per our review, this product of EQONEX administers USD/USDC fungibility. This allows clients to deposit, exchange, and withdraw either USD or USDC trades at a ratio of 1:1. Currently, EQONEX gives clients a choice to have holdings of cryptos, such as BTC, BCH, ETH, EQO, LINK, MATIC, and GRT. In regards to the trading fees, the spot trading functionalities are based on the average exchange volumes. The more the client exchanges, the more economical the compensation will be. The offering is KYC and AML compliant.

EQONEX Exchange Reviews: Pros and Cons

Registration Process of EQONEX

Follow the below steps:-

• The first step to start trading on the EQONEX platform is the Sign-Up conformities. The button is located on the homepage of the platform.
• The client needs to select the type of account they want to create: Individual (personal use) or Institution (for corporations).
• The sign-up information needs to be provided along with the user’s email address. After that process, the user needs to accept the terms and conditions of the cryptocurrencies website and click ‘Confirm.’
• The client receives a Verification link to authorize the provided email address. The link is applicable only within a 24-hour time span.
• Once the client verifies the email from their account, they are led to the EQONEX login page.
• To complete the application and access trading on the platform. The crypto company requires client content, such as a government authorized identification card (passport, driver’s license, or National ID) and a valid proof of address.
• Additionally, to make sure the information provided is from the client itself, the company makes it a formality for clients to take a selfie with the provided documents along with the date of submission.
• To secure the account holdings, the user is advised to download the features for a 2-factor applicability for protected trades on their respective devices or exchanges.

EQONEX Fees

As per our review at EQONEX, the licensed trading fees for takers are 0.09%, and for makers, 0.08%. Moreover, clients can profit during certain trading volume discounts, which go as economical as 0.02% for crypto trading takers and 0.01% for crypto trading makers. This discount offer is available for a 30-day period. For clients to avail of these trading fee rewards, they have to exchange crypto tokens that surpass a $500 million value during the warranted period. The benefit is that EQONEX does not impose anything of its own when investors withdraw crypto from their accounts on the platform. Visit the official website for more details.

EQONEX Withdrawal and Deposit Method

The withdrawal fees are usually fixed and vary from cryptocurrency to cryptocurrency network. For instance, if the client withdraws BTC crypto funds, they are imposed trading fees average from Bitcoin and so on for every crypto exchange.

In regards to deposits on EQONEX, the platform gives investors the opportunity to deposit cryptos into the trading platform along with the permit to deposit fiat currency. The accessibility means are only generated through a wire transfer, not the user’s credit or debit card. The crypto trading platform authorizes the “entry-level exchange” conformity making it a market where novice crypto users can originate their journey into the enticing digital assets ecosystem.

EQO Token by EQONEX

The native EQO coin was launched in April 2021. The key factors of the token’s utilization are staking, enhancing interest rates, reducing trading fees, cross-collateralization, and airdrops. It is established under the Ethereum blockchain and is ERC-20 compliant.

EQONEX API

The Diginex Limited company ‘EQONEX’ warrants market news and real-time access to API coin holders, which is done through third-party sites or applications.

EQONEX Privacy & Security

Being a part of a Nasdaq acquired firm, the platform upholds the highest norms of transparency and is government compliant. To ensure transparency, the financial services authority does not authorize markets on its crypto exchange to evade disputes of transactions against its associates.

The trading website offers a multi-account arrangement for institutional clients. This peculiarity allows users to function under a restricted entity with varied trade account holdings. Clients can control and observe the market influences of their crypto securities. Additionally, it safeguards clients’ crypto account holdings through their 2FA (Two Factor Authentication) system functionalities.

EQONEX Customer Service

While making this review, we get to know that the EQONEX help center assists users with a toolbar for their trading queries along with a host of lucrative options. Clients can connect to the EQONEX team through email The customer care services that EQONEX provides users with are in the areas of account verification queries, trading account set up, trading account management, deposits, withdrawals, different readily available trading characteristics, consultation on the grounds of trading fees, assistance on acquiring the native EQO token, and an array of beneficial peculiarities to enhance the user experience.

EQONEX Exchange Reviews: Final Verdict

The use cases of the average investor’s opinion are in favor of EQONEX. The leveraged trading features it implements a year after its market launch is phenomenal, and their remarkable trading volumes values are lucrative. As per June 2021 data, the most trusted and largest crypto exchange platform had a trading volume of $180 million. With time and extended trading features, this profited trading volume will only scale new heights.

FAQs

Is EQONEX Safe and Legit?

The crypto exchange is reliant and well-protected. Users have the ability to perform trading activities in a secure network setting with trusted third-party liquidity associates and surveillance checks to diminish any illicit responses from crypto hackers.

How Long Does It Take to Withdraw From EQONEX?

The withdrawal period depends on the client’s withdrawal demand. The request number is sent for review, and once the request is verified, the funds are processed to the client’s wallet. Ideally, it is processed within 24 hours after the demand is made.