BaseFEX Review (Update 2021)
BaseFEX
- Cryptocurrency Derivative & Margin Exchange
- No KYC, No IP Blocks, Trade Anonymously
- Highest Level of Security
- Low Trading Fees
- 24/7 Live Chat Support
- Stable server with no breakdowns
- Leverage up to 100:1 in BTC
- Leverage up to 20:1 to all other trading instruments
- Listed on CoinMarketCap.
Details
| Broker | BaseFEX |
|---|---|
| Website URL | basefex.com |
| Founded | 2018 |
| Support Types | Live Chat, Email, Blog, Twitter |
| Languages | English, Japanese (日本語), Korean (한국어), Chinese (简体中文), Russian (Русский) |
| Trading Platform | TradingView |
| Minimum 1st Deposit | 0.0001BTC |
| Bonus | No KYC Required |
| Leverage | Up to 100:1 |
| Free Demo Account |
 |
| Fees |
|
| Fee Info | Low Trading Fees |
| Deposit Methods | Bitcoin (BTC), USDT |
| Withdrawal Methods | Bitcoin (BTC), USDT |
| Number of Assets | 7 |
| Trading Currency | Crypto |
| US Traders Allowed |  |
| Mobile Trading |
|
| Tablet Trading |
|
| Overall Score | 75 |
Pros
- Anonumous Margin Broker, No KYC, No IP Blocks
- Funds are held in Cold Storage
- Advanced Chart Tools
- Fair and Competitive trading fees
- Stable server with no breakdowns
- High Leverage (Up to 100:1)
Cons
- Not enough operating history
- No MT5 Broker
- Limited Number of Trading Instruments
- Unregulated Broker (Risk that Regulation may be needed in the future)
Is BaseFEX a scammy margin trading broker?
Is BaseFEX a reliable crypto broker where you can trust your bitcoin trading account?
Read this honest Review and learn more information about BaseFEX, so you can personally deside if this Broker fits to your needs!!
About BaseFEX (The Company)
BaseFEX is a margin trading crypto broker, like PrimeXBT. The company behind BaseFEX is Base Investing Corporation, a registered company in Seychelles (an offshore IBC company probably), but the team is working from their Hong Kong office. They do not hold any kind o licence (and they are not obligated to by Seychelles law).
Just like Evolve Markets and PrimeXBT, trading in BaseFEX is anonymous.
Signing up is easy and fast, just using an email and a password. The is no KYC required, no personal data is shared with the company. BaseFEX takes anonymity to the next level, offering a no KYC promise:
- Question: How seriously you can take BaseFEX’s no KYC promise?
- Answer: Not so seriously. World is changing fast and nobody knows regulations in the future.
According to the CEO of BaseFEX, Jesse Wu:
BaseFEX’s mission is to be the most reliable, transparent and advanced cryptocurrency derivative exchange, and make trading smooth, secure and accessible for traders worldwide.
On the other hand, BaseFEX doesn’t accept any fiat currency deposit, just Bitcoin. So if you want to trade to BaseFEX and you dont have bitcoins yet, you can buy some here.
Trading Instruments, Platform and Charts
BaseFEX currently has futures on bitcoin (BTC) and other 5 altcoins: Ethereum (ETH), Ripple (RRP), Bitcoin Cash (BCH), Litecoin (LTC), Binance coin (BNB). In Bitcoin maximum leverage is 100:1, in other instruments is up to 20:1. BaseFex claims to have the lowest fees in the market on BTCUSD and BTCUSDT (Bitcoin to Tether).
Tether (USDT or USD Tether) is a new type of cryptocurrencies named stablecoins. Contrary to Bitcoin and Ethereum which price has high volatility, stablecoins prices are connected to fiat currencies. For example USD Tether price maintains a 1-to-1 ratio to the USD.
BaseFEx is using the TradingView Charts. Trading View is a company offering Charting solutions for Online Brokers. Its platform is easy to use even for a newbie and offers real-time information
and market insights in various trading markets. A newbie trader can start using the tools and features provided and learn trading through an amusing process.
An increasing number of traders start to use BaseFEX every month, sign of the quality work made by the company. Also, most new BaseFEX clients are newbie traders, proof that BaseFEX platform is really easy to use.
BaseFEX Review (Update 2021)
- Cryptocurrency Derivative & Margin Exchange
- No KYC, No IP Blocks, Trade Anonymously
- Highest Level of Security
- Low Trading Fees
- 24/7 Live Chat Support
- Stable server with no breakdowns
- Leverage up to 100:1 in BTC
- Leverage up to 20:1 to all other trading instruments
- Listed on CoinMarketCap.
Create A FREE Account With BaseFEX now, just using your email.
Keep your personal information private and enjoy margin trading just by depositing Bitcoins.
Sign Up Process, Deposits and Security
As mentioned before, the sign up proccess is extremely easy.
You just need an email and a password to sign up.
- Visit BaseFEX webpage and click the ‘Register’ Link. You will find it on the right top of their website.
- Sign up by enter your Email (you can use any email account if you dont want to use your personal), select a Password (you can keep this password offline if it is hard to remember) and a write a Nickname.
- Verify your account through the link that BaseFEX sent you in your email. You are done.
After your account is validated you have to deposit a crypto to start trading. In BaseFEX you can deposit Bitcoins or USDT (USD Tether).
After the deposit is finished, you can start trading immediately using technical analysis charts found in the platform.
Start placing a long/short position on any of the available pairs at any price.
Cryptotrading in BaseFEX using leverage is possible using your mobile or tablet device. Mobile apps (Android and iOS) are available.
A typical trading screen in BaseFEX is like this:
Restricted Countries
At the time of publishing this article, BaseFEX exchange does not accept traders living in the following countries:
Security
BaseFEX pays the highest attention to security issues, trying to offer the highest level of protection to its clients.
According to its CEO, Jesse Wu, BaseFEX has hired a group of elite engineers and professionals of cryptocurrency all over the world.
BaseFEX has never been hacked since its launch on Oct. 2018. BaseFEX has obtained the highest security rating from Mozilla Observatory Test.
Stable server: BaseFEX has never had a system break down nor has encountered an overload since launch.
Cold storage: All assets on BaseFEX are stored in multi-signature cold wallets only. All BaseFEX addresses are multi-signature, and all storage is kept offline. This means, even in the event of a system compromise, an attacker still will not have full access to all the required keys to steal funds.
Withdrawal Security: Every withdrawal is manually audited before sending and requires the coordinated actions of multiple BaseFEX employees. No private key is kept on any cloud server. All deposit addresses sent by the BaseFEX system are verified by an external service to ensure that they contain the keys that the founders control. If the public keys do not match, the system is immediately shut down, and trading is stopped.
Contact Information:
- Live Chat is available 24/7
- You can anytime send an email to support@basefex.com.
- Twitter: @BaseFEX
- Telegram group: https://t.me/BaseFEX_Trading
Conclusion:
BaseFEX is a new marging trading exchange aspiring to attract newbie and experienced traders. The company has no complaint history up to day, has a strong security aware and offers safe margin trading with high leverage. BaseFEX is competing with other Trading companies such as Evolve Markets, PrimeXBT etc.
These competitors offer similar services such as anonymous trading accounts, high leverage trading etc, however we think that a cryptotrader should give a trading opportunity to BaseFEX by signing a Real Crypto Trading Account and start trading in BaseFEX.
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