Currency.com Review
Currency.com offers a wide range of tokenised assets, including: cryptocurrencies, government bonds, indices, shares, currency pairs, and commodities. The total number of instruments offered by the platform are in excess of 3,000. At present, the platform accepts clients from 183 countries around the world. However, US-based individuals are currently not permitted to register on the platform.
Currency.com is a Belarus-based online crypto trading platform. The platform is owned and operated by Currency Com Bel LLC, which is headquartered in Minsk. Currency.com is an authorized legal entity that conducts its operations under the Decree of the President of the Republic of Belarus №8. This decree allows legal entities to offer services related to crypto platforms.
Currency.com offers a low minimum deposit of just $5, which is one of the lowest minimums out there. It also allows deposits via a range of methods including: bank transfers, debit/credit cards, Union Pay, and Yandex Pay. All customer funds are kept in segregated accounts, although these are not insured. The platform also offers 24/7 customer support, ensuring that all queries are resolved swiftly.
Currency.com Pros & Cons
Pros
- Wide range of assets
- Low minimum deposit
- Excellent training material
- Technology-driven platform
- Up to 1:500 leverage
- Random bonus of up to $ 100
Cons
- Does not accept US clients
- Only regulated by one jurisdiction
Who Is Currency.com Recommended For?
Currency.com is recommended for traders who like to make informed investment decisions. This is because Currency.com offers extensive trading material to its customers, including more than 75 technical charts, instant price alerts, and other features such as trading dictionaries and market news. All these features have been designed to help traders in making good trading choices.
The Currency.com platform is also recommended for traders that are focused on cryptocurrencies. The broker has a special focus on cryptocurrencies and offers more than 225 tradable assets to its clients. The trading platform allows users to check the latest market prices, spreads, the percentage change in prices, as well as historical charts. In addition to this, Currency.com has also partnered with other trading platforms like Binance, enabling users to trade in tokenised assets without any issues.
Top Currency.com Features
- Advanced Trading Platform: The company has developed the world’s first regulated tokenised assets exchange. Currency.com offers a web-based trading platform that allows its users to trade from anywhere. This trading platform is also compatible with smartphones and offers different versions for Android and iOS.
- Low Minimum Deposit: Another great feature of Currency.com is the low minimum deposit of only $5. This minimum deposit is much lower than most other competitor brokers. At the same time, the minimum withdrawal limit is also fairly good, as Currency.com allows customers to withdraw amounts as low as $100.
- Wide Range of Assets: Currency.com has created a tokenised asset exchange that can be used to trade in a wide range of assets. These assets include tokenised cryptocurrencies, government bonds, indices, shares, currency pairs, and commodities. Users can choose to invest in the instrument that they are most comfortable with. A wide range of assets gives users the opportunity to earn from multiple instruments at the same time.
- Excellent Trading Tools: The tools offered on the platform are extremely helpful for traders. Currency.com offers its customers the latest price charts, technical analysis indicators, and price movement comparison tools. Access to these tools ensures traders are ready to take advantage of price movements at any time.
Currency.com Overview
- Type of Broker: Crypto Trading Platform (Market Maker)
- Regulation & Licensing: Authorized to operate in Belarus
- Clients Accepted: from183 countries around the world
- Assets Offered: Tokenised Government Bonds — 2, Tokenised Indices — 26, Tokenised shares — 2926, Cryptocurrencies — 229, Tokenised currency pairs — 270, Tokenised Commodities — 30
- Platforms Available: Proprietary browser-based platform
- Mobile Compatibility: Android, iOS
- Payment Types Accepted: BTC, USDT, LTC, ETH, UNI, BCH, LINK, Wire Transfer, Credit Card, Debit Card, UnionPay, Yandex Money
Currency.com Account Types
Account Currencies
USD, EUR, RUB, BYN
Available Leverage
Up to 1:500
Minimum Deposit
$5
Starting Spreads
$0.05 for BTC
Commission Per Trade
Cryptos market taker fee: 0.075%
Cryptos market-maker fee: -0.025%
Tokenised assets (Shares, ETFs, Indices, Commodities): 0.0125%
Tokenised currencies: 0.002%
Decimal Pricing
5
Trading Instruments
Tokenised Government Bonds — 2
Tokenised Indices — 26
Tokenised shares — 2926
Cryptocurrencies — 229
Tokenised currency pairs — 270
Tokenised Commodities — 30
Min. Lot Size Per Trade
0.01 lots for FX
Max Lot Size Per Trade
None
Demo Account
Yes
Swap/Rollover Free
No
Copy Trading Support
Yes
Currency.com Compliance & Regulation
Currency.com is authorized and regulated in its home country of Belarus. The platform is regulated by the High Technology Park of Belarus. In addition, the platform is considered to be a valid legal entity in Belarus that is allowed to offer services related to the trading of cryptocurrencies. It is regulated under the Decree of the President of the Republic of Belarus №8.
The platform maintains client funds in separate accounts, but these are not insured. However, there is a strong focus on complying with all Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. The verification process undertaken by the platform is robust and ensures that all vital information is collected before the user can begin to trade on the platform. The platform also protects its users from negative balances and guarantees stop losses.
Currency.com Pricing
Currency.com levies four types of fees on its users. A trading fee is levied on both cryptocurrencies and tokenised assets, with the cryptos taker fee at 0.075%, while the tokenised assets fee is 0.0125%. Additionally they charge an exchange fee that stands at 0.2% for cryptos and 0.05% for tokenised assets.
A funding fee is also applied to continuously leveraged trades held according to the market rate. This fee varies according to the type of instrument that is being held. The final fee is for overnight funding, which is added to or subtracted from your account when having a booked order after a certain time.
The spreads offered by the platform are fairly narrow, starting at $0.05 for Bitcoin. Additionally, there are no hidden fees that are charged to the customers. Further, the minimum deposit set by Currency.com is only $5, and the minimum withdrawal amount is $100. However, it is also worth noting that the platform charges deposit and withdrawal fees to its users. Withdrawal fees can include a variable charge of up to 2.4% plus a fixed fee of up to $3.
Currency.com Reliability & Security
Currency.com offers a proprietary web-based platform to its users. Although the platform does not offer support for MetaTrader 4 and MetaTrader 5, its own interface is extremely well-developed. The interface allows users to review 75 technical indicators and multiple charts. Users also get instant price alerts and quick transaction processing speeds. In addition, the platform is also compatible with Android and iOS.
Currency.com has also won a couple of awards in recent years. These awards indicate that the broker is popular with traders and offers some good features.
- Rated as the ‘Best Cryptocurrency Exchange CIS’ by the Blockchain Life Awards 2019 forum
- Awarded for ‘Breakthrough in Cryptocurrency Trading’ by ADVFN (2020)
Currency.com User Experience
Currency.com’s proprietary web-based platform offers a robust user experience to its traders that is highly user-friendly with an interactive interface. The platform offers great features including: 75 types of technical charts, useful trading information, news, and extensive trading support. We did not encounter any issues with the trading platform, and found it to run smoothly.
Traders are also free to test out the platform’s features by creating a demo account allowing users to trade using virtual bitcoins. The demo account offered by the broker mirrors the full-feature account with no major restrictions, with the exception of using real money to trade. In general, the platform offers only one account type, a standard account that can be used to trade all the different instruments that are offered.
The customer support offered by the broker is also among the best in the industry, with Currency.com offering 24/7 technical support to its users. The company website can also be viewed in 10 languages, including: English, Russian, Indonesian, Spanish, Portuguese, Vietnamese, Korean, Malaysian, Thai, and Chinese. Support can be reached via chat, email, phone call, or the website. Currency.com also offers affiliate and referral programs to its users.
Final Thoughts on Currency.com
Overall, Currency.com is the right choice for traders that are keen on investing in tokenised assets. The range of tokenised offerings presented by the broker is among the best available. The browser-based platform offered by the broker is extremely smooth and highly user-friendly. Although there is no support for MetaTrader 4, the company has paid sufficient attention to ensuring a smooth interface and intuitive trading experience.
The broker also offers a great range of assets, ensuring that traders can choose instruments for any trading strategy. The commissions and fees charged by the broker are a little on the high side, however, despite this, Currency.com is a good option for advanced traders who want to access a wide range of assets and trade cryptocurrencies in a secure environment.
Currency.com FAQs
Q: Can I register for a demo account?
A: Yes, Currency.com allows its users to register for a demo account. This account allows users to learn about the process of trading tokenised assets without risking their own money. The entire demo account experience at Currency.com is mostly the same as a full-fledged trading account. However, the users can only trade in virtual bitcoin.
Q: Are US citizens permitted to register for Currency.com?
A: At present, US citizens cannot register for Currency.com. Nevertheless, the broker accepts clients from 183 countries around the world. Countries that are not covered include Bahamas, Belgium, Bermuda, Botswana, Cambodia, Democratic People’s Republic of Korea (DPRK), Ethiopia, France, Ghana, Iran, Japan, Pakistan, Panama, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, and Yemen.
Q: What are the different account types offered by Currency.com?
A: Currency.com offers only one type of account. This account can be used to trade a broad range of instruments like cryptocurrencies, government bonds, indices, shares, currency pairs, and commodities. Most of these instruments are offered in a tokenised form.
Q: Does Currency.com offer mobile trading?
A: Currency.com offers full support for mobile trading. Users can download the app to access their trades from their smartphones. The mobile apps offered by the platform are fully compatible with both Android and iOS.
Q: Will my funds be secure with Currency.com?
A: The investor funds are kept in segregated accounts that cannot be used by the company. Although these funds are not insured, they are protected by strong security measures. Currency.com is also audited by an external firm, thereby providing extensive security to its users.