- How To Identify Seasonal Patterns in The Stock Market - September 16, 2020
- The Best Way To Manage Risks in Trading - August 26, 2020
- How To Make Trading Less Complicated - June 29, 2020
Facts & Figures
- Name: Mercatox Financial
- Year Founded: 2016
- HQ: WTC 1CV New London House 6 London Street, England, United Kingdom.
- Director: Ronald Rodriguez Leon
- Trade Fees: 0.25%
- Deposit options: Bitcoin, Litecoin, Ethereum, Payeer, PerfectMoney, OkPay, Ya.Money, Dogecoin, Dash
How To Trade
It is free to open an account with Mercatox, and after that it is simply a matter of funding the account using one of the available payment methods. Note that the account may only be funded using one of the cryptocurrencies offered for trade at Mercatox and FIAT currencies such as USD, EUR or GBP cannot be used.
Once the account has been funded, traders can buy or sell electronic and crytpocurrencies using the available currency pairs. Mercatox claim to offer the most profitable rates available on the market so that investors will not need to look elsewhere to get a better deal.
Promotions & Loyalty Programmes
There are no standard promotional offers available at Mercatox, at least not at the moment, but there is a rather original way to earn extra benefits from this site via their Loyalty Programme. A traditional loyalty plan rewards people based on the amount of trades they make, or the size of their accounts.
Mercatox have taken a different approach, whereby they are offering rewards for those who spread the word of their site. Bloggers, YouTubers, social media users and commenters can all earn rewards by promoting Mercatox. There is no fixed reward scheme as of yet, but those rewards will include discounted trading fees, double affiliate rewards and payment of interest.
Mercatox have not really invested in educational resources on their site, so is advisable to have some knowledge of cryptocurrency trading before signing up with the platform. There is a News section on the site, but this is mostly used to announce new markets or promotions rather than to provide trading advice. The best suggestion is to search elsewhere for trading tips, and then put those suggestions into action using the Mercatox platform.
The tools available from the Webull app allow investors to carry out fundamental and technical analysis. Investors can take advantage of analyst recommendations to assist with trading advice and tips. There is also data on revenue and historical earnings per plus stock information such as earnings, dividends and stock splits and news feeds with the latest information on the markets’ performance.
Bollinger bands, MACD and other indicators can be integrated with the range of charts which update in real time. Investment research tools include insider holdings, stock screeners, financial calendars, historical EPS as well as watchlists and alerts. As a total package, Webull offers a very comprehensive selection of investment tools to allow traders to gain valuable insight into the performance of the markets.
Mercatox allows trades on a wide range of different cryptocurrencies and electronic currencies. The cryptocurrencies on offer include Bitcoin, Ethereum, Tronix and EOS among others. Electronic currencies have variants of USD and EUR on offer to trade with.
Beyond this there is not a great scope for further trading options, but given the popularity of this site it is clear that crypto traders have found more than enough to meet their needs at Mercatox. There is also a Lending option for those who wish to take a risk-free alternative to trading, by lending funds to traders for them to use.
A major concern when it comes to cryptocurrency trading sites relates to how safe, or otherwise, they are. Mercatox is a relatively new entrant to the online trading market, having only been founded in 2016, so it does not have a long track record to bolster its credentials.
The actual process of blockchain is perfectly safe and secure, and to date there have been no security issues with Mercatox. It is always recommended for users to set up two-stage authentication when using any online trading or financial account, so as to prevent unauthorised access.
There are a few fees to be aware of before customers start trading with Mercatox. For every trade that takes place on the platform Mercatox imposes a fee of 0.25%. This is a clear and transparent pricing structure that does not attempt to disguise the fees being charged, which is certainly a welcome approach. Deposits to the site are completely free, but there are charges for withdrawals which vary according to the method used to withdraw funds.
For those customers in need of some basic advice, the first port of call should be the FAQ section of the Mercatox site, although it must be said that it is not very large. If more information is required – and it may well be – then traders can contact the support team via either email or live chat. The customer support staff will be able to deal with queries in any of the three languages supported on the site: English, Chinese or Russian.
Mercatox is a good no-frills option for those people who want a platform for trading in cyber-currencies and electronic currencies without paying a hefty premium. There is a decent selection of cryptocurrency pairs to choose from and the trading process is very straightforward. Some will be put off by the absence of FIAT currencies and restrictions in methods for funding the account, but over half a million traders have signed up to Mercatox so it is clearly finding its market in a competitive industry.
Is this your final decision?
We suggest you visit one of the most popular crypto brokers instead!
- – Wide range of currencies in wallet
- – Good selection of cryptocurrencies
- – Available in US
- – Doesn’t support FIAT currencies
- – No credit card or bank transfer option
- – Fees on withdrawals
7 Binary Options review: Traders Way: 3 stars