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Currency.com Review [2022] | Trade Crypto, Stocks, Bonds | Pros & Cons

Currency.com Review [2022] | Trade Crypto, Stocks, Bonds | Pros & Cons
Jordan
Major
4 months ago
14 mins read

In this review, we will analyze Currency.com, the world’s first tokenised assets exchange. In particular, we will examine the trading platform, fees, and security, among several other features, as well as include a step-by-step guide for setting up an account.

About Currency.com

Currency.com is a cryptocurrency and tokenised securities exchange that is regulated by the High Technology Park in Belarus and has offices in London, Cyprus, Minsk, Kyiv, New York, and Singapore.

The platform provides traders with a diverse range of assets, including cryptocurrencies, tokenised versions of gold, stocks, and S&P 500 indexes, on top of tokenised government bonds that can be easily transferred, converted into fiat currency, and traded.

Launched in 2018, it provides its customers with the speed, agility, and asset variety needed across modern-day markets.

Currency.com homepage. Source. Currency.com

The exchange’s patented web-based platform provides traders with a rich user experience that is user-friendly with a dynamic interface. In addition, the platform offers its customers many beneficial features, such as 75 different kinds of technical charts, an extensive set of analytical tools, news, and trading assistance, among other things.

In addition to web-based trading, Currency.com also offers mobile trading, which means that traders may make use of the following key features, all of which are beneficial to traders regardless of the device they are using:

  1. Buy cryptocurrencies: The exchange has over 2,000 tokenised assets and cryptos;
  1. Leverage: Traders can leverage up to 1:500 as well narrow spreads;
  1. Multiple asset classes: The ability to trade stocks, commodities, and indexes with competitive commissions and no hidden fees;
  1. Fully regulated exchange: Customers have access to a fully regulated exchange that adheres to anti-money laundering (AML) and Know Your Customer (KYC) regulations.

Why do traders use Currency.com? 

Currency.com is the world’s first tokenised assets trading app; investors who are looking for a diversified investment platform that includes cryptocurrencies, equities, bonds, indexes, currencies, and other assets can benefit from the variety of options at their disposal.

Essentially the platform is an interface between the emerging world of cryptocurrency and traditional financial assets. It’s a marketplace where holders of crypto assets may trade a wide range of global financial instruments in tokenised form — swiftly and without the need for fiat currency.

According to the company, it is on track to have one million clients in 2022, and the following are some of the reasons for its growth:

  • The platform offers over 200 different cryptocurrencies combinations to trade;
  • Currency.com offers over 2,000 tokens that are pegged to the actual market prices of traditional asset classes;
  • Companies like Microsoft and Amazon, indices like the S&P 500 and Dow Jones 30, and commodities like Brent Crude and Gold are among the tokens available;
  • Trading tokenised assets on a digital exchange is similar to trading any other crypto or conventional asset class; you may choose to buy or sell. You may also attempt to benefit from market fluctuations and take advantage of trading opportunities;
  • The exchange allows users to trade cryptocurrencies such as Bitcoin with 100x leverage and guaranteed stop losses;
  • The easy set enables users to start investing in a diverse range of available digital assets, including tokenised stocks, commodities, and indices in a matter of minutes;
  • Multiple advanced charts and over 70 technical indicators;
  • Fully regulated and adheres to global standards.

Recommended video: Currency.com explained in 2 minutes

Currency.com key products

1. Trading Platform 

Currency.com has built the world’s first regulated exchange for tokenised assets, complete with a web-based trading platform that enables customers to trade from one of 183 countries around the world.

Currency.com trading platform. Source. Currency.com

With a split-second order management mechanism, the exchange offers a robust cryptocurrency trading platform with a wide range of features. It has created an unrivaled trade-matching engine that operates at a rate of 50 million trades per second (M/sec), which is not restricted by the speed of Blockchain.

The trading platform is also accessible through smartphones, with multiple versions for both Android and iOS devices.

Isolated margin

Currency.com offers a comprehensive suite of intelligent risk management solutions that are designed to keep your money safe. 

With an isolated margin, you can better control your risks and reduce the likelihood of incurring losses. By manually adjusting your margin, you have complete control over the amount of leverage used and the amount of money you are willing to risk.

Stop-loss

Negative balance protection and a guaranteed stop-loss focus on ensuring that you protect your invested capital. 

Deep liquidity 

Currency.com provides robust execution via the use of a cutting-edge smart order management system and its relationships with global institutional traders and market makers.

Watch the video: How to place your first trade with Currency.com

2. Trading tools

 In addition to the standard buying and selling features of an exchange, Currency.com has an abundance of trading tools which are listed below:

  • Cutting-edge charts: that include 75 technical indicators and a comprehensive set of drawing tools for straightforward charts;
  • Plan trades: with top-quality graphics for market analysis and emerging trends;
  • Multiple chart styles: using line, area, bar, Heikin-Ashi, or candlestick chart types, you may customize your charts to appear like your cryptocurrency platform;
  • Follow price movement: Up to six independent market tabs are available for users to keep a watch on several markets simultaneously;
  • All-in-one drawing toolkit: Chart text, style, and color may be customized using a variety of drawing tools, including trend lines and Fibonacci values.

3. Buy crypto

Investment in cryptocurrencies is easy with Currency.com, which allows users to purchase Bitcoin or other cryptocurrencies using a bank card, while the transaction history is completely transparent.

  • The platform supports Visa and Mastercard card payment systems, as well as bank payments making buying crypto easily accessible to anyone.
  • The mobile app is designed to allow users to immediately purchase cryptocurrencies using fiat money at competitive prices smoothly.
  • Invest with simplicity in Bitcoin, Ethereum, and other cryptocurrencies, with prices updated in real-time as well as featuring price alerts;
  • Failsafe real-time price alerts and up to 1:500 leverage;
  • High leverage on crypto and competitive spreads;
  • Competitive taker fees and attractive maker rebates.

4. Supported assets

Currency.com has developed a tokenised asset exchange that can trade in a wide variety of instruments, including tokenised cryptocurrencies, government bonds, indices, stocks, currency pairs, ETFs, and commodities. 

Users also have access to a transparent “order book” with great pricing and liquidity.

In particular, the crypto trading platform gives access to:

  • Cryptocurrencies;
  • Tokenised Government Bonds;
  • Tokenised Indices;
  • Tokenised shares;
  • Tokenised currency pairs;
  • Tokenised Commodities:

Company tokens

Company tokens allow customers to invest in tokens of leading companies and increase their capital, in addition to offering other benefits such as:

  • Receive regular payment of the interest on company tokens;
  • Carry out trading operations yourself, without the need for a broker; 
  • You can fund your account in multiple ways such as topping up your account with traditional fiat currency through debit or credit card, via a bank transfer, or a virtual wallet;
  • Exchange currency tokens for company tokens easily.
Company tokens. Source. Currency.com

5. Demo account

Traders may also get a feel for the platform’s capabilities by opening a demo account, which allows them to trade with virtual Bitcoins while learning about them. 

The demo account provided by the broker is indistinguishable from the full-featured version, with the exception of the ability to trade with real money.

Generally, the platform provides just one account type, a basic account, which may trade all of the available instruments.

6. Referral program 

Currency.com offers a very rewarding referral program; you both receive a bonus by referring a friend to the exchange. 

You can earn a 25% commission on each trade from your friends, while your friends get a 10% discount on commissions.

Currency.com referral. Source. Currency.com

7. Corporate account

On Currency.com, corporate accounts and professional traders on Currency.com provide business solutions to trade, invest, and raise capital with tokenised assets. 

Benefits include:

  • Priority registration: Throughout the registration procedure, each business customer is accompanied by a specialist from the platform;
  • Rapid verification: Corporate clients and professional traders may verify their accounts in only one day while still passing the AML, CTF, and KYC criteria;
  • Personal account manager: Whenever you have a question, a Currency.com expert is always available to help you with your problem from technical elements of the cryptocurrency platform to depositing funds;
  • Increased limits: Increased transaction limits for non-cash transactions involving fiat currency, such as wire transfers and cryptocurrencies, are available to corporate customers.
Currency.com corporate account. Source. Currency.com

8. Prime

Currency.com Prime is a pioneer in developing new and regulated crypto-financial services for sophisticated and VIP customers, providing a custom-tailored white-glove service with highly experienced professionals distinguished by its privacy and client support.

Currency.com Prime. Source. Currency.com

Prime clients have access to some of the following VIP white-glove premium service features:

  • A dedicated account manager;
  • Rapid orders execution 24/7;
  • Access to more than 200 over-the-counter markets;
  • Prime access to exclusive products: non-fungible tokens (NFTs), private token sales, DeFi, and life insurance;
  • Tailor-made solutions adapted to your needs.

9. Mobile platform

Users may take advantage of the fully-featured Currency.com trading app, which provides users with all of the functionality you’ll need to trade cryptocurrencies and traditional financial markets while on the go.

The trading app provides you with in-depth financial analysis via the use of trustworthy technical indicators and complex charts, which you can access from your smartphone.

You can download the app on both the Apple Store and Google Play Store.

Currency.com fees

Transparency is at the heart of Currency.com, driven by the requirements of investors and traders to be fair and transparent in its fee structures.

Currency.com levies four types of fees on its customers.

  1. Trading fee (leverage)
  • BTC/USD, BTC/EUR, ETH/USD, ETH/EUR fee: 0.06%
  • Other cryptos: 0.075%
  • Tokenised assets (Shares, ETFs, Indices, Commodities): 0%
  • Tokenised currencies: 0%
  1. Exchange fee
  • Cryptocurrency / Cryptocurrency – 0.2%
  • Cryptocurrency / Tokenised currencies – 2
  • Tokenised assets (Shares, ETFs, Indices, Commodities) – 0.05%
  • Tokenised bonds – 0.03%
  • Companies tokens – 0% (buy), 1.5% (sell)
  1. Funding fees
  • Fees will be levied on continuously leveraged trades that are held at the market rate, this fee varies depending on the type of instrument.
  1. Overnight funding amount
  • Your account will be debited or credited based on whether or not an order is booked after the specified time period, with the total amount being the cost of overnight funding.

Deposits & Withdrawals 

The minimum deposit set by Currency.com is only $10, and the minimum withdrawal amount is $50. It is also worth mentioning that the platform charges deposit and withdrawal fees to its users, excluding bank transfer deposits. 

Withdrawal fees can include a variable charge depending on whether you are withdrawing a Visa, Mastercard, or a bank transfer.

Please refer to the chart below for a more in-depth look at all of the fees associated with deposits and withdrawals, as well as commissions.

Fees for deposits and withdrawals. Source. Currency.com

Is Currency.com safe?

Since launching in 2018, there have been no instances of any hack or security breach issues with the platform. 

  • AML and KYC: Currency.com conforms to the strictest and most demanding industry standards, as well as stringent anti-money laundering regulations and Know Your Customer policies;
  • Regulated: The exchange is directly authorized and regulated by the Hi-Tech Park (HTP) in Belarus. Working inside the industry’s most extensive regulatory framework. When you trade on the award-winning platform users can rest certain that both your funds and data are secure;
  • MSB License: Currency.com is also authorized by the Gibraltar Financial Services Commission as a DLT Provider under the Financial Services Act 2019. It is also registered with FINTRAC (Canada) as a Money Services Business (MSB) and registered as the same with FinCEN (USA);
  • Audited: The exchange has been fully audited both in 2020 and 2021;
  • Account security: Two-factor authentication (2FA) for login, funding, trading, and API key activities. You may also set up a Master Key 2FA channel in case you lose your account access; 
  • Encryption: PGP/GPG for email encryption and verification, a separate system for secure document upload and verification, and even more encryption to avoid tampering with your data.
  • Cold storage: The vast majority of Coins are kept in cold storage. Currency.com maintains a small number of coins in semi-cold wallets on secure computers with encrypted and locked drives. Only the coins required to ensure operational liquidity are retained in hot wallets and each wallet is fully encrypted.
Saftey. Source. Currency.com

Customer support

The customer support offered by the broker is also among the best in the industry users can use the FAQ search on the support page.

The technical support staff may be contacted 24 hours a day, seven days a week by chat, phone, email, or the website.

Furthermore, it is recommended that you look at their social media profiles on Twitter, Facebook, YouTube, and Telegram to stay up to date with the latest developments on the platform.

How to set up an account on Currency.com (step-by-step)

Step 1: First, visit https://currency.com and click [Sign Up] in the top right-hand corner.

Currency.com step 1 account set-up. Source. Currency.com

Step 2: Next, enter your email address and password before clicking [continue].

Currency.com step 2 account set-up. Source. Currency.com

Step 3: The next screen will give you a choice to ‘go to platform’ or ‘complete’ the account verification. 

Note: You will need to complete your profile before you start trading.

Currency.com step 3 account set-up. Source. Currency.com

Step 4: Click complete registration and enter your country of residence and nationality.

Country of residence account set-up. Source. Currency.com

Step 5: Enter your name, surname, and date of birth.

Enter your name and account set-up. Source. Currency.com

Step 6: Add your address required for identity verification.

Enter address. Source. Currency.com

Step 7: Then you need to enter your recovery phone number:

Enter your phone number. Source. Currency.com

Step 8: Requires you by the regulator to upload your ID, which can be one of a passport, ID card, or residence permit.

Verify your ID. Source. Currency.com

Step 9: In this example, we used a residence permit where you need to upload the front and back of your documents.

Verify your documents with photos. Source. Currency.com

Step 10: Finally, wait for your account to be verified so you can begin trading. The whole process is quick and straightforward, and you can complete it in less than five minutes.

Wait for your account to be verified. Source. Currency.com

Pros & Cons of Currency.com

Pros 

  • Access to a variety of cryptocurrencies and tokenised assets including, stocks, bonds, and indices;
  • Functional demo account;
  • Trading with leverage up to 1:500;
  • Multiple technical indicators for charts;
  • Hot and cold storage custody solutions;
  • Multiple language support.

Cons

  • The platform is not available in the United States.

Final thoughts 

Trading on Currency.com provides traders with exposure to both the cryptocurrency market and the traditional finance market with the opportunity to diversify their portfolios by gaining access to a varied selection of tokenised assets.

In general, the advanced trading platform allows traders to invest in over 2,000 tokenised assets with a growing list of fiat currencies and cryptos. Advanced charts with 75 technical indicators, a wide range of drawing tools, rapid execution, and a straightforward user interface make the platform a solid choice for both beginners and professionals.

Additionally, the exchange is renowned for having competitive fees as well as for utilizing cutting-edge security procedures to keep your funds safe.

FAQs about Currency.com

What is Currency.com

Currency.com is a fully regulated tokenised assets crypto platform that allows traders to use cryptocurrencies to trade for tokenised assets such as stocks, indices, and bonds. 

Is Currency.com safe?

Yes, the platform adheres to stringent industry standards and rigorous AML rules. Currency.com hasn’t suffered any security incidents since its launch and offers great risk management tools with real-time price alerts on top of negative balance protection.

Does Currency.com have a demo account?

There is a demo account available on Currency.com, which enables users to practice trading tokenised assets without putting their personal money at risk. At Currency.com, the demo account experience is almost identical to that of a fully-functioning trading account.

Is Currency.com regulated?

Yes, Currency.com is regulated by the High Technology Park in Belarus while also working inside the industry’s most extensive regulatory framework. In addition, the exchange has a Money Services Business (MSB) license in both the United States and Canada, as well as authorization as a DLT provider in Gibraltar.

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Jordan Major
Author

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.