Menu Review: Is Tokex Safe or Scam? Review: Is Tokex Safe or Scam?

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Tokex is a shady platform that claims to be dealing with digital currencies and token. It is a cryptocurrency exchange that allows traders to exchange or deposit digital currencies of their choice.

The website supports several currencies like; Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) Dash (DASH), Litecoin (LTC), and Dogecoin (DOGE). The company is a cryptocurrency exchange you can expect similar features that are common in all other exchanges,

The company has software that aids their trading activities. It enables investors to place, stop, and limit orders, you can additionally ask prices and view bid. The platform looks professional and neat traders can navigate with ease.

Tokex has trading indicators that help indicate what the possible price will do next. The fee that the company charges is available on the FAQ page. Investors can check the fee that the exchange commission on their total earnings.

The company looks legit, but we still have our doubts with them. The exchange claims that they offer zero latency, fair fees, and the safety of funds. However, we are not certain they will keep their word. Until we test their services, we cannot be sure if their platform is legit.

It could be another marketing strategy that they use to scam their clients. The company was launched in May 2016. They have been in the market for a very long time. Sadly, despite them being in the market for all this time, they do not have a reputation, which raises more suspicion.

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It seems the exchange has not been promoted properly, or they bought the domain name. It is a major concern of the quality of services that they offer to investors. Nothing is clear regarding their business.

Tokex Review

The company brags that they are a top-notch company that is focused on providing top-notch services to investors. The company has not created a reputation yet, and trading with them might expose you to numerous risks.

Trade with reputable digital currency trading platforms that are well known. You can sign up today to get started. They market their services as the new standard for token trading. If you read through, you might think they are the first company offering these services.

Since bitcoin bits, market token trading has been a thing. The term is not new, and it is not a unique idea. The company allegedly has a zero latency, and if the info is correct, it can be extra merit to their services.

The company does not offer a demo account; hence you cannot familiarize yourself with their trading services. Tokex is not transparent in their dealing. They have not disclosed who is the owner of the firm.  Without giving us reasons to trust us, please keep off.

Contact and Regulation

The location of the firm is also not known. Nonetheless, their website is available in the Russian language, and it could be a sign they are a Russian crypto exchange. The majority of digital assets are not regulated when you compare them with crypto investment companies.

Traders will be using their hard-earned money to invest in their activities. Hence, you should check their regulation status. Tokex does not have a trading license, and they are operating illegally. The majority of crypto exchanges do not accept investors from the USA due to the strict restrictions that the government has put in place to protect its citizens from fraudsters.

Nonetheless, the firm does not state the countries they accept their clients from. They are no disclaimer in their website or documents showing they are operating legally.

Tokex Testimonials

It is the norm that reputable companies should attract investors. The company has not been featured by the traders in the market. Investors will discuss an exchange that they think it is worth their time and money in various crypto platforms.

We find it hard to believe that Tokex has been in the market since 2016, but there is not have even a single review. It is, therefore, hard to know the type of services the firm offers. It is strange. Without information that can shed light on the activities of the platform, it would be hard endorsing them to the public.

Tokex has no digital footprint in the industry. They are operating anonymously, and if indeed they are offering any services, the majority of investors should be flooding in their entity. Sadly, this is not how it is. Our best advice is you keep off from their dealings, for your peace of mind and safety of your funds.

Tokex Funds Safety

We do not know how safe your money is on this platform. We have had issues of crypto exchange being hacked and money being stolen. The information regarding their security is not discussed. Tokex does not avail of the financial institution; they segregate users’ funds.

In case they are hacked, how will they compensate investors? Do they even have a compensation scheme? All these essential data is missing in their firm. So we cannot comment on their safety, which is a major drawback.

The platform does not have a reputation, and without this, they are not the best option in the industry. Investors always air how they feel about a certain exchange. The information regarding the trading fee is not thoroughly availed.

Before you trade in any exchange, you should ensure you are well aware of the withdrawal, deposit, and any other transaction charges that they impulse. Tokex should show us why they are the best in the market.

Additionally, the platform does not disclose the verification process that they use. To make a deposit or withdraw funds from other exchanges, you will have to use your ID or passport when depositing or cashing out money.

Other exchanges allow clients to remain anonymous. Also, some verification takes days before they are completed. The verification process helps the exchange company from money laundering and other forms of scams. Tokex has not discussed this information, and it is hard knowing how they protect traders.

Final Verdict

Tokex claims they are a crypto exchange, unfortunately, they have been in the market long enough, but we don’t see people endorsing their services. It would be best if you stick to crypto trading companies that have a reputation in the industry. They will provide you with all the info you will need.

They do not have feedback from those who have indulged with them, if any. It raises suspicion and does not create confidence with the traders in the industry.

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