General Information

Binance JEX is an unregulated cryptocurrency exchange that operates without valid regulatory licenses. As a result, it lacks the oversight and regulatory protection usually provided by authorized entities. This absence of regulation increases the potential risk for users, as there may be a higher likelihood of market manipulation and fraudulent activities. It is important for users to exercise caution and be aware of the associated risks when trading on an unregulated platform like Binance JEX.

The platform offers a range of market instruments for trading, with fees varying depending on the type of trading instrument and discounts available for JEX token holders. Binance JEX supports multiple payment methods, including P2P trading, credit/debit card payments, bank transfers, and third-party payment channels. However, users should be aware of the risks and exercise due diligence when engaging in financial transactions on the platform.

Binance JEX provides trading platforms for both mobile and desktop devices, allowing users to trade on the go and stay informed about market updates. The exchange also offers API integration for third-party trading applications. To enhance security, Binance JEX provides the Binance Authenticator for 2-Step verification.

The platform offers various trading tools such as Binance Convert, Futures Grid, Trading Bots, Spot Grid, and an OTC trading service. These tools aim to enhance the trading experience and provide users with options to automate their trades and benefit from market fluctuations.

Customer support is available through 24/7 chat support, email communication, Twitter, and Facebook. Users can reach out to Binance JEX for assistance or inquiries regarding the platform.

While Binance JEX offers trading opportunities and a range of tools, users should be cautious due to the lack of regulatory oversight, the reported complaints, and the potential risks associated with unregulated exchanges.

Pros and Cons

Binance JEX, as a cryptocurrency exchange, has both advantages and disadvantages. In terms of pros, it offers a wide range of market instruments, including over 500 cryptocurrencies, options, ETFs, and futures. Traders may engage with buy and sell offers from other users, and the fee structure is relatively low. Additionally, the integration of JEX has expanded the platform's offerings. However, there are notable cons to consider. Binance JEX operates without regulatory oversight, which poses potential risks such as market manipulation and fraudulent activities. Limited information on less-known cryptocurrencies and the lack of customer protection and legal recourse options are also concerning. To make informed decisions, users should carefully weigh these pros and cons before engaging in trading activities on Binance JEX.

Is BINANCE JEX Legit？

Binance JEX Exchange is currently not regulated by any valid regulatory authority. This means that the platform does not operate under the oversight and regulations that are typically in place to protect investors and ensure fair trading practices.

It's important to note that trading on an unregulated exchange carries inherent risks. Without regulatory oversight, there is a higher likelihood of fraudulent activities, market manipulation, and inadequate security measures. Additionally, in the event of any disputes or issues with the exchange, there may be limited avenues for legal recourse or protection of investors' rights.

Furthermore, it is worth mentioning that there have been complaints received by WikiFX regarding Binance JEX Exchange. Specifically, eight complaints have been reported within the past three months. These complaints and reports should serve as a warning and raise caution about the potential risks and possible fraudulent activities associated with the platform.

Market Instruments

Binance JEX provides access to a range of market instruments, primarily focusing on cryptocurrency pairs. Traders can choose from over 500 cryptocurrencies, including popular options like BTC, ETH, and XRP, as well as lesser-known cryptos such as NEO, IOTA, and NavCoin.

The platform offers options for trading crypto coins like ETH/BTC, LTC/BTC, JEX/BTC, DASH/BTC, and others. Additionally, traders have access to options, ETFs, and futures. Binance JEX expanded its offerings through the acquisition of JEX, which is now integrated and rebranded as Binance Jex.

To facilitate trading, Binance JEX allows users to view and engage with buy and sell offers from other traders or create their own trade offers. A fee is charged for each trade, although the specific fee structure is relatively low.

Traders interested in utilizing Binance JEX's services are required to register on the platform before engaging in any trading activities.

Transaction Fees

Binance JEX has a pricing schedule for transaction fees, which can be found on its website. The fees vary depending on the type of trading instrument.

For crypto coin pairs like ETH/BTC, the maker fee is 0.10% and the taker fee is 0.10%. Users who hold JEX tokens receive a 50% discount on these fees.

When it comes to option trading, both makers and takers are charged a fee of 0.20%. Again, JEX token holders enjoy a 50% discount on these fees. The fees for ETF trading are the same as for options.

For futures trading, the fees differ based on the trading pairs. For BTCUSDT, the maker fee is 0.00% and the taker fee is 0.04%. For ETHUSDT, the maker fee is 0.01% and the taker fee is 0.06%.

Trading Platform

Binance JEX offers trading platforms that cater to the needs of traders on various devices. Users can trade on the go and stay informed about market updates with the Binance JEX app and desktop client.

The trading platforms are available for download on different operating systems. For mobile trading, the Binance JEX app can be downloaded from the App Store for iOS devices or from Google Play for Android devices. The app allows traders to access all the features and functionality of Binance JEX on their smartphones or tablets.

For desktop trading, Binance JEX provides a powerful crypto trading platform that is compatible with Windows, MacOS, and Linux. Traders who prefer to conduct their trading activities on a computer can download the desktop client to enjoy a tailored trading experience.

Binance JEX also offers API integration, helping traders to connect their own trading applications to the platform. The Binance API is designed to provide a way to integrate trading functionality into third-party applications.

To enhance account security, Binance JEX provides the Binance Authenticator. This app generates 2-Step verification codes, adding an extra layer of protection to user accounts. The Binance Authenticator can be downloaded for both iPhone and Android devices.

Trading Tools

Binance JEX offers a range of trading tools designed to enhance the trading experience and provide users with various strategies and options. Here are some of the trading tools available on Binance JEX:

1. Binance Convert: Binance Convert allows users to instantly convert one cryptocurrency into another within their Binance JEX account. This tool helps exchange cryptocurrencies without the need for placing separate buy and sell orders.

2. Conversion History: Binance JEX keeps a record of users' conversion history, allowing them to track their previous cryptocurrency conversions. This feature provides a reference for users to review their conversion transactions.

3. Futures Grid: Binance JEX offers Grid Trading applied to COIN-M and USD-M contracts in the futures market. Grid Trading enables users to amplify their purchasing power by deploying long/short strategies and taking advantage of sideways markets. This tool helps users automate their futures trading and potentially benefit from market fluctuations.

4. Trading Bots: Binance JEX provides automation tools for trading cryptocurrencies. Users can deploy trading bots to execute trades based on predefined strategies. These bots help users identify and replicate trending strategies and take advantage of the liquidity available on Binance JEX. By using trading bots, users can trade crypto like professional traders.

5. Spot Grid: Spot Grid is a tool that allows users to place buying and selling orders at set intervals across a configured price range. By automating trades using Spot Grid, users can take advantage of volatile markets and potentially optimize their trading outcomes.

6. Binance OTC: Binance JEX offers an over-the-counter (OTC) trading service. OTC trading allows users to trade large volumes of cryptocurrencies directly with Binance, without going through the traditional order book. The OTC trading service provides a more personalized way to execute large trades.

7. OTC Trading History: Binance JEX keeps a record of users' OTC trading history, allowing them to track their previous OTC transactions and review the details of their trades.

Payment Methods

Binance JEX offers several payment methods for users to facilitate trading and transactions. These methods include:

1.P2P Trading: Binance JEX provides a peer-to-peer (P2P) trading platform where users can buy and sell cryptocurrencies directly with other users. P2P trading allows for the use of various payment methods, such as bank transfers, mobile payment apps, and online payment systems, depending on the preferences of the trading parties.

2. Credit/Debit Card: Binance JEX supports credit and debit card payments, allowing users to purchase cryptocurrencies using their cards. By linking their cards to their Binance JEX accounts, users can make instant purchases and quickly access the cryptocurrencies they desire.

3. Bank Transfer: Users can also make deposits and withdrawals on Binance JEX via bank transfers. This payment method enables users to transfer funds from their bank accounts to their Binance JEX accounts or vice versa.

4. Third-Party Payment Channels: Binance JEX may collaborate with third-party payment channels to provide additional payment options to its users. These channels can include various online payment systems, e-wallets, and mobile payment apps. By integrating with trusted third-party platforms, Binance JEX aims to offer users a wider range of payment choices and enhance the accessibility of cryptocurrency trading.

Binance JEX Technology

Binance JEX offers an advanced technology called GSLB, featuring Distributed server cluster, distributed storage high-speed memory trading engine with alternation of several machines, cold e-wallet, hot e-wallet with the offline private key.

Customer Support

Binance JEX provides customer support through multiple channels to assist users with their inquiries and concerns. Here are the customer support options available:

1. 24/7 Chat Support: Binance JEX offers 24/7 chat support to provide real-time assistance to users. Users can access the chat support feature on the Binance JEX website or platform, allowing them to interact with support representatives and receive prompt responses to their queries.

2. Email Support: Users can also reach out to Binance JEX customer support by sending an email to service@email.jex.com. This email address serves as a direct communication channel for users to raise their concerns, ask questions, or seek assistance.

3. Twitter: Binance JEX maintains an official Twitter account where users can find the latest updates, announcements, and news related to the platform. Users can also reach out to Binance JEX through Twitter by mentioning or direct messaging their queries to the official Binance JEX Twitter handle: https://twitter.com/BinanceJEX/.

4. Facebook: Binance JEX has a Facebook page where users can find information about the platform and engage with the community. Users can visit the Binance JEX Facebook page to access updates, announcements, and relevant content. The Facebook page also serves as a platform for users to communicate with Binance JEX: https://www.facebook.com/JEX-1915721362076725/？modal=admin_todo_tour.

Conclusion

In conclusion, Binance JEX is an unregulated cryptocurrency exchange that offers a range of trading tools and platforms for users to trade and invest in cryptocurrencies. The advantages of using Binance JEX include pricing listed in tables, availability of mobile and desktop trading platforms, and various trading tools such as Binance Convert and Futures Grid. However, the platform's lack of regulation raises concerns about investor protection, potential fraudulent activities, and limited legal recourse in case of disputes. Additionally, the presence of complaints reported to WikiFX further highlights potential risks associated with Binance JEX. It is crucial for users to carefully consider these disadvantages and exercise caution when using the platform.

FAQs

Q: Is Binance JEX a regulated exchange？

A: No, Binance JEX is currently not regulated by any valid regulatory authority. Trading on an unregulated exchange carries inherent risks.

Q: What are the pros and cons of using Binance JEX？

A: The pros of using Binance JEX include availability of trading platforms for different devices, and a range of trading tools. However, the cons include the lack of regulation and the presence of complaints reported to WikiFX.

Q: What fees does Binance JEX charge？

A: Binance JEX has a pricing schedule for transaction fees. The fees vary depending on the type of trading instrument, such as crypto coin pairs, options, ETFs, and futures.

Q: How does deposit and withdrawal work on Binance JEX？

A: Binance JEX does not charge any deposit fees, but users are required to pay a flat fee for each withdrawal to cover transaction costs. The withdrawal fees vary depending on the blockchain network and can change due to factors like network congestion.

Q: What trading platforms does Binance JEX offer？

A: Binance JEX offers a mobile app for iOS and Android devices, a desktop client for Windows, MacOS, and Linux, and API integration for connecting third-party trading applications.

Q: What trading tools are available on Binance JEX？

A: Binance JEX offers tools such as Binance Convert for instant cryptocurrency conversion, Conversion History for tracking previous conversions, Futures Grid for automated futures trading, Trading Bots for executing predefined strategies, Spot Grid for automated trading in volatile markets, and Binance OTC for personalized large-volume trades.

Q: What payment methods are accepted on Binance JEX？

A: Binance JEX supports P2P trading, credit/debit card payments, bank transfers, and may collaborate with third-party payment channels to offer additional options.

Q: How can I contact customer support for Binance JEX？

A: You can reach Binance JEX customer support through 24/7 chat support on their website, via email at service@email.jex.com, or through their official Twitter and Facebook accounts.

General Information

Hantec Markets is a reputable forex broker that was established in 1990 and is regulated by the Financial Conduct Authority (FCA) in the United Kingdom. They offer a variety of trading platforms, including MT4 and MT5, along with TradingCentral for market analysis. Traders have access to a wide range of tradable assets, including forex, CFDs, indices, commodities, stocks, and bullion. Hantec Markets provides different account types, including demo account, cent account, and standard account, catering to traders of various levels. They offer customer support through live chat and telephone, and provide educational resources such as market reports, analysis videos, and podcasts. The minimum deposit required is $10, and the maximum leverage offered is 1:1000. Hantec Markets supports multiple payment methods for deposits and withdrawals

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. We will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.

Is Hantec Markets legit or a scam？

Yes, Hantec Markets is a legitimate and regulated forex broker that operates under the oversight of reputable financial regulatory bodies. Hantec Markets adheres to strict regulatory standards to ensure financial stability, security, transparency, and fair trading practices.

Hantec Markets is regulated by the Financial Conduct Authority (FCA) in the United Kingdom. The company is authorized and supervised by the FCA, with registration number 502635. The FCA is a renowned financial regulatory body known for its stringent regulations and supervision of financial firms.

Pros and Cons

Market instruments

Currency pairs, indices, commodities, metals, energies, cryptocurrencies, stocks... Hantec Markets gives its clients access to a massive trading market. So, both beginners and sophisticated traders could find what they want to trade on Hantec Markets.

It is worth noting that, in the trading instruments screen, Hantec Markets provides a detailed table showing spreads, SWAPs, trading hours and other conditions of various instruments in detail, which greatly facilitates clients' consultation and comparison.

Below is a comparison table of trading instruments offered by different brokers:

Spreads and Commissions

As mentioned before, in Hantec Markets spreads are clearly displayed in tables. For example, the AUDCAD spread is 1.8 pips. However, we have not been able to find detailed information on commissions.

How to Open an Account？

1. Visit the Hantec Markets website. Look for the “Open account” button on the homepage and click on it.

2. Select an account type and submit your details via our registration form.

3. Upload your documents and await approval.

4. Fund your wallet and transfer to your trading account.

5. Start trading

Spreads and Commissions

Hantec Markets offers Forex trading with spreads starting from specified values for various currency pairs. There are no commissions charged for Forex trades. The spread type is floating, and the minimum order size is 0.01 lot. The trading conditions also include a stop-out level set at 40% of the used margin. Overall, Hantec Markets provides competitive spreads and transparent commission-free trading for Forex.

Trade major pairs like EUR/USD, GBP/USD, and USD/JPY:

EUR/USD spread: 0.00014898 pips.

GBP/USD spread: 0.000213589 pips.

USD/JPY spread: 0.022286942 pips.

Hantec Markets offers precious metals trading with competitive spreads and floating spread types. Traders can trade gold (XAU) with a minimum margin requirement of 5% and silver (XAG) with a minimum margin requirement of 10%. The minimum order size for gold is 0.1 lot (10 ounces) and for silver is 0.1 lot (500 ounces). There are no commissions charged for trading these metals, and the trading hours are available according to the server time.

Hantec Markets offers CFD trading on a variety of symbols, including stocks. The spreads for stock CFDs start from specified values for each symbol. Additionally, there are no specific details provided regarding commissions for stock CFD trading.

Hantec Markets offers indices trading on various major indices in Europe, Asia, Australia, and the US. The spreads for indices trading start from specified values for each symbol. Additionally, there are no specific details provided regarding commissions for indices trading.

In terms of Commodity Trading conditions at Hantec Markets, both US Oil and UK Oil have a spread of 0.05. There are no specific details provided regarding commissions for commodity trading.

Hantec Markets offers cryptocurrency trading with competitive spreads on a range of popular cryptocurrencies.

Non-Trading Fees

Currency Conversion Fee:

A conversion fee may be applicable to trades based on the currency settings of your trading account, funding currency, and the settlement currency of the market being traded.

The conversion fee is set at 0.6% and is added to the settlement exchange rate, which is determined by the market rate at the time of settlement. To account for the conversion fee, the underlying exchange rate is multiplied by 1.006 during the conversion process.

For instance, if the GBP/USD exchange rate is 1.1, the applicable FX conversion rate would be 1.1 x 1.006 = 1.1066.

By default, CFD accounts are set to 'instant' conversion. This means that any realized profit, loss, funding, dividend adjustments, or commission will be automatically converted to your account's base currency.

Let's consider an example:

Suppose you have purchased £20 per point worth of FTSE (UK100), and the base currency of your trading account is USD. Since you are trading in GBP, which is different from your account's base currency, the related transactions need to be converted to USD.

Assuming the exchange rate is 0.7576 ($1 equals £0.7576), after incorporating the conversion fee of 0.6%, the conversion rate becomes 0.7576 x 1.006 = 0.7621.

If FTSE increases by 30 points, your profit would amount to £600. This profit will be reflected as £600/0.7621 = $787.30 in your account. To calculate the admin fee charged, multiply your profit by 0.6%:

$787.30 profit x 0.6% = £4.72 currency conversion fee (already included – not charged separately)

Overnight funding

Also known as the 'Swap' charge, this is the cost of holding a position overnight. The amount will be dependent on the size of your trade, whether you have a long or short position and the instrument you are trading. Swap rates are determined by the underlying interest rates of the products or currency pairs you have open positions in.

Account Types for Hantec Markets

Demo account: Hantec Markets offers a demo account for you to test a little on the financial market without the risk of losing money.

Real account: there are 2 types of real accounts in total: cent account and standard account. The initial deposit to open an account is respectively $10 and $100, which is quite friendly for beginners. Other differences are market access, spreads, demo account and copy trading.

Trading Platforms

Although a long time has passed since the launch of MT4, it is still a major player in the market and is loved by traders all over the world. Accessing it from different devices also makes it easier for users to trade.

Leverage Offered

Hantec Markets offers a maximum leverage of up to 1:1000, which is a generous offer and ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also result in a loss of capital, especially for inexperienced traders. Therefore, traders must choose the right amount according to their risk tolerance.

Deposit and withdrawal methods and fees

The broker provides a variety of payment options for transactions in USD, EUR, GBP, or NGN. Clients can choose from the following payment methods: Bank Wire (Bank Transfer/SWIFT), VISA, MasterCard, Neteller, Skrill, and UnionPay.

Deposits:

Hantec Markets offers a competitive minimum deposit requirement of just $10, which makes it an appealing choice for beginners looking to start trading with a smaller initial investment.

When it comes to withdrawals, there is a minimum payment threshold of $100. Hantec Markets aims to process withdrawal requests made before 15:00 GMT on the same day. However, please note that it may take between two to seven business days for the funds to be credited to your account, depending on various factors such as the payment method and bank processing times.

For European clients, deposits and withdrawals are free of charge. However, international clients may incur charges for large withdrawals made through e-wallets. It's also important to be aware that some banks may have their own processing fees for handling withdrawals.

Overall, Hantec Markets strives to provide convenient and transparent deposit and withdrawal processes for its clients, ensuring that funds can be efficiently managed according to individual needs and preferences.

Users exposures on WikiFX

On our website, you can see that some users have reported scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

Hantec Markets prides itself on providing excellent customer service to its clients. Each client is assigned a dedicated relationship manager who serves as their primary point of contact for any queries or issues. The relationship manager can be reached conveniently through the live chat tool available on the website.

The customer support team is also available 24/5 and can be contacted by leaving a message in the “contact us” section of the website.

Alternatively, you can reach out to them through the live chat feature, which is located at the lower right corner of the broker's website. Additionally, you have the option to contact customer support via telephone using the following numbers:

China – 4000280332

Nigeria – 7080601265

Jordan – 18442000155

Thailand – 1800019263

Taiwan – 886801491458

Pakistan – 080090044349

Main Office (UK) – +41225510215

Please note that international numbers may incur toll fees.

Office Locations:

Hantec Markets' main headquarters is situated at 5-6 Newbury St, Barbican, London EC1A 7HU in the United Kingdom. For the addresses of their Dubai, India, or other offices, please refer to the Hantec Markets website.

Educational Resources and Community Support

Hantec Markets offers a wide range of educational resources on its website to support traders in their learning journey. These resources include market reports, analysis videos, YouTube webinars featuring Nigerian and African traders, as well as podcasts. Moreover, there is a dedicated learning hub that provides valuable content across four experience tiers, along with lessons on strategy creation and risk management.

Hantec Markets strives to empower its clients with the knowledge and tools they need to make informed trading decisions, fostering a supportive community of traders along the way.

User Experience and Additional Features

Another interesting aspect to point out from this broker is the client portal, in which customers can manage accounts and payments with ease. The portal houses various functions to help customers get the account overview, manage multiple accounts, view trades (ongoing and closed) with ease, receive market insights from Richard Perry's Daily Market Report, deposits, and withdrawals, as well as easy access from mobile platforms.

Educational resources

A number of educational resources are available at Hantec Markets. We have market analysis, economic calendar, glossary and many important knowledge. We cannot deny their importance, but the best teacher for you to learn Forex trading is always real trading. It is impossible to make progress relying only on tools.

Conclusion

Hantec Markets is a well-established forex broker founded in 1990, regulated by the FCA in the UK. They offer a wide range of tradable assets, including forex, CFDs, indices, commodities, stocks, and cryptocurrencies. With competitive spreads, transparent commission-free trading, and access to popular trading platforms like MT4 and MT5. Traders can benefit from various trading platforms and a diverse selection of tradable assets. However, some aspects, such as limited information about certain commissions and the availability of Hantec Social platform, could be improved. Traders should carefully assess their trading requirements and preferences, as well as consider the associated risks and costs, before choosing Garnet Trade as their trading platform.

FAQs

Q: Is Hantec Markets a legitimate broker？

A: Yes, Hantec Markets is a legitimate and regulated forex broker. They are authorized and supervised by the Financial Conduct Authority (FCA) in the United Kingdom.

Q: What account types do Hantec Markets offer？

A: Hantec Markets offers three types of accounts: demo account, cent account, and standard account. The minimum deposit to open an account is $10.

Q: What trading platforms are available on Hantec Markets？

A: Hantec Markets offers the popular trading platforms MT4 and MT5, as well as TradingCentral for market analysis and insights.

Q: What is the maximum leverage offered by Hantec Markets？

A: Hantec Markets offers maximum leverage of 1:1000 for international clients using the Cent Account and 1:500 for international clients using the Standard Account. However, for European clients, leverage is limited by ESMA regulations to 1:30 for major FX pairs, 1:20 for minors and exotics, gold, and stock indices, and 1:10 for oil and silver.

Q: What deposit and withdrawal methods are supported by Hantec Markets？

A: Hantec Markets supports various deposit and withdrawal methods, including Bank Wire, VISA, MasterCard, Neteller, Skrill, and UnionPay.