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WEEX Review 2024. WEEX Crypto Exchange Features, Fees, and Security
Rating: 90%
Join WEEX Today!
Get up to 20,000USDT Welcome Bonus
Spot Fees:
Taker
0.1%
Maker
0.1%
Future Fees:
Taker
0.6%
Maker
0.2%
Deposit Methods:
Wire
Credit
Crypto
Is It Safe?
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Table of Contents
Today we will look at the very promising WEEX crypto exchange, which boasts multiple mentions from reputable publications, open availability of numerous licenses and reserve protection, and even its own token.
While WEEX has less trading volume, number of users, and features than the leading Binance, or Bybit, it remains a friendly and profitable place with many unique listings, awards, and promos. Let’s discover them, as well as all of WEEX’s features, terms, conditions, and fees.
WEEX Overview
WEEX exchange was founded in 2018 and can be considered a young platform, but a fairly fast-growing and sustainable one.
It is important to note that WEEX is very eager to take its place not by rushing to release plenty of features, but by creating a solid legal foundation for their entire range of financial transactions worldwide, including in the strictest jurisdictions.
WEEX is officially registered under the legal name Weex.Inc. in Singapore, and has headquarters in Taiwan, and Dubai, adhering to the relevant AML and KYC policies.
Also, WEEX already has Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) license with registration number 2824, and MSB licenses from jurisdictions such as the USA and Canada, while Australia, the Philippines, and other regions are pending.
And what’s more, WEEX is making an effort to openly demonstrate how serious they are about regulation, so in addition to stating that they have these licenses, they also provide details about them.
US MSB license entity ID#20218044035 and confirmation number 13551646.
Fintrac MSB Canadian license, registration number M21642476.
Although WEEX is ranked 53rd on Spot on Coingecko, there may be many more popular or profitable crypto exchanges for Spot. However, it is telling that for more professional traders and serious trades like Derivatives WEEX is ranked a respectable 4th place on CoinGecko.
Overall WEEX has ~$3B Spot 24H Trading Volume, ~$27.3B Futures 24H Trading Volume collects 5.72M users monthly, and offers 514 coins and 531 trading pairs, including their own WXT token.
Creating Your WEEX Account
WEEX registration is as standard as possible you need to enter your email or mobile and set a strong password combination of numbers, letters, and symbols.
After that, you need to confirm them with the code you received and you have a fresh new WEEX account.
WEEX also greets you with clear instructions on how to claim a Welcome Bonus for different deposit sizes or certain trading volumes on futures.
Does WEEX Have KYC?
WEEX AML/KYC policy emphasizes strict measures to prevent money laundering and terrorist financing. The main emphasis is on KYC (know your customer) compliance and mandatory customer identity verification. WEEX requires full customer information, including full name, date of birth, residential or registration address, and unique identification numbers (e.g., passport or identification card). Identity verification is conducted using independent and reliable data sources. The Company also thoroughly checks beneficiaries and persons acting on behalf of clients to minimize risks and comply with regulatory requirements.
WEEX User Interface and Main Features
The WEEX interface should remind you a lot of Binance, maybe even more than many other crypto exchanges.
You are greeted by the standard navigation bar, on the right side of which you will find the Orders, Account icon, Notifications, the official link to download the WEEX App, and the Language options.
On the left side, you are also greeted by a tab with the main sections and related features.
Primary Features of WEEX
Here you will find WEEX special offers, from special features to important articles.
- Become a Top Trader. Copy trading feature, where you can share your strategies and earn rewards.
- Official Verification. A unique WEEX tool that allows you to verify websites, mobile numbers, and other resources to prevent phishing and fraud.
- Protection Fund. Here WEEX provides detailed information on how the company protects assets and also shows the Proof of Reserves.
- WEEX Global Strategy. Another informative WEEX page that shares licenses in various jurisdictions and expansion plans.
- WEEX Affiliate. WEEX Affiliate program with some of the largest commissions in the market, which the platform is familiar with and joins.
- WXT Zone. A section with unique opportunities for WXT token holders, with WEEXly airdrops, exclusive perks, and more.
- LUNC Burn. Special opportunities for the LUNC token, which WEEX actively supports and plays a special role in.
Next, you’ll see the more familiar sections and functions.
Futures Trading
Futures Pro. Get access to the advanced features of one of the most popular and noted providers for futures trading with leverage up to 200X on derivatives.
You won’t find anything unfamiliar, a very classic interface with coin selection on the left, order options like Limit, Market, and Trigger with TP/LS and more on the right, a chart with up-to-date info on selected coins in the center, and details and options of already open orders on the bottom.
Futures Demo. WEEX also allows you to try out the interface or test a strategy for a selected asset without the risk of using real funds.
Futures Introduction. Again, not to look for this in a separate place, WEEX offers their article regarding Futures trading and everything related to it.
Spot Trading
The Spot menu is also very standard, on the left you have the selection of the monet, on the right order data, in the center a chart with market data for the selected monet, and at the bottom order options like Limit, Market, and Trigger with TP/LS and others.
Copy Trade Pro
Here is the full WEEX Copy Trading menu, which not only allows you to share your strategy but also use other people’s strategies, explore the ranking of the best traders, etc.
WE-launch Feature
Here WEEX offers a separate exclusive weekly airdrops feature for WXT holders, with the same exclusive favorable conditions.
Rewards on WEEX
WEEX rewards section where you can learn more about their types, and terms and claim them, such as your Welcome Bonus.
WEEX Deposit and WEEX Withdrawal Options
WEEX only offers crypto deposits and withdrawals at the moment, so you should consider this in advance. However, with the way the platform is rapidly evolving, you can assume that this could change at any time.
WEEX Deposits will be quite familiar to you if you have done it at least a couple of times on other popular platforms.
Reach WEEX wallet, go to WEEX Deposits, select the cryptocurrency and network of interest, and then you get a unique address that you can use on your withdrawal platform, be it your crypto wallet or another crypto exchange.
Similarly, in WEEX Withdrawal, you need to select the cryptocurrency, amount, and network, and now enter the address where you want to send the assets, pass 2FA verification, and then the transfer will take place.
In each case, you will receive a notification about the crediting or sending of funds with details about the transaction.
WEEX Fees and Costs
WEEX offers quite favorable conditions regarding fees, in particular, they can be 0% for Maker and Taker on Spot if you are fully verified and a WXT holder, but without that, they will be 0.1%.
For Futures they are 0.02% for Maker and 0.06% for Taker, however, WXT holders here too get the added benefit of a 20% fee discount.
Also note that in addition to the minimum value for withdrawal, there is a commission that is unique for each token, as well as the network you are going to use, for example:
- TRC20: 1 USDT
- ERC20: 4 USDT
- BEP20(BSC): 0.5 USDT
- POLYGON(MATIC): 0.5 USDT
- ARBITRUM(ARB): 1 USDT
- SOLANA(SOL): 2 USDT
- OPTIMISM(OP): 0.1 USDT
- AVALANCHE(AVAX): 0.5 USDT
WEEX Security and Safety
In addition to legal safety, WEEX strives to provide technical and financial security too. In particular, they have Proof of Reserves, namely $1000 $BTC as users’ fund reserve among other assets, while their WXT token has been audited by blockchain security firm Beosin.
Also, they provide technical security methods such as 2FA for identifying users and their transactions, SSL encryption of data in transit, and AI-powered risk control systems. Additionally, their seriousness in providing a secure architecture for their solutions has, they claim, been marked by security vendors such as Shencha Technology and Qingsong Cloud Security.
WEEX Customer Support
WEEX customer support offers several options that are convenient for different situations. Right from the start screen, you can use the live chat to solve the most popular issues, you can also reach them in Telegram @weikecs. In addition, WEEX is present on many social networks where it has a large community and you can also ask for help or advice from the members.
Customer support hours: Not Mentioned
Phone: No
Email: No
Live chat: Yes
Telegram: @weikecs
Conclusion
Overall, WEEX gives the impression of a very stable, and trusted platform that strives above all to be fully legal, and openly shares these initiatives and successes.
Also, WEEX remains convenient and profitable, especially if you are interested in the derivatives or exclusives that the platform offers while providing safeguards for your trading.
Frequently Asked Questions
Yes, WEEX is distinguished by its explicit receipt of MSB licenses to operate legally in the US and Canada.
WEEX pays great attention to security as noted by Shencha Technology and Qingsong Cloud Security, and utilizes AI-powered risk control systems.
Yes, WEEX has PoR reports that are shared, and $1000 $BTC as users’ funds reserve among other assets.
WXT is the official token of WEEX, which gives access to unique listings and promos and allows for lower spot and futures fees for WXT holders.
Currently, WEEX does not offer Bot Trading and provides key features like Spot, Futures, and Copy Trading, as well as exclusive listings and promos.
4.5
- Strong progress in global legalization
- Transparent reserves and audits
- Own profitable token
- Exclusive listings and promos
- Competitive fees
- Spot, Futures, and Copy Trading only
- Limited coins selection
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