Cryptolorium > Exchanges > Bitforex


Trade 500+ cryptocurrencies
Bitforex, founded in 2018, is a cryptocurrency exchange that offers its users a range of services including spot trading, derivatives trading, and OTC trading.

GET 30% Rebate

Get 30% rebate of your trading fees

Bitforex offer
Sign upGET 30% RebateGet 30% rebate of your trading fees
Details   safety   payments   fees   kyc   pros and cons   


Exchange name
Bitforex exchange
6+ million
Not available
No license
Number of employees
Exchange card
Maximum leverage
Payment options
Cryptocurrencies, Credit/debit card, Mercurio, Coinify, Banxa, AdvCash, MoonPay
Fiat deposit
Fiat withdrawal
Instant buy with fiat
Card payment
Paypal payment
SEPA payment
SWIFT payment
Apple Pay
Google Pay
Variable depending on trading volume, maker/taker status, and cryptocurrency
Fiat deposit/withdrawal fees
Depends on payment method, varying from free to 5% / No fiat withdrawals.
Instant buy fees
Roughly 2.5% to 15%. Deposits through MoonPay might be close to free.
Transaction fees (maker/taker)
0.1% / 0.1 %
Fee discounts
Yes, with BF token
Crypto withdrawal fees
Bitcoin: 0.0005 BTC
Ethereum: 0.00324348 ETH
Tether: 15 USDT
Binance Coin: 0.0005 BNB
Cardano: 2 ADA
Solana: 0.0512 SOL
Ripple: 3 XRP
Polkadot: 0.5 DOT
Dogecoin: 20 DOGE
Shiba Inu: 998966 SHIB
Stellar: 5 XLM
Litecoin: 0.001 LTC
KYC info
KYC is mandatory for deposits, withdrawals, and trading.
KYC details
Users need to provide personal information, ID verification, and address verification documents.
KYC requirement level
Users accepted without KYC?
Spot Trading
Margin Trading
Futures Trading
Trading bots offered
Maximum offered leverage
Other details
BitForex offers a variety of trading options, including margin trading and futures trading.
Market order
Limit order
Stop limit order
Stop market order
Trailing Stop order
Post Only order
Strategy order
Time-in-force order
Iceberg order
Conditional order
Other info
They also offer Good till canceled, Immediate or cancel, Fill or kill, and Take profit orders.
Crypto staking
Liquidity mining
Learn to Earn
Crypto lending
Other info
BitForex offers staking, liquidity farming, learn to earn programs, launchpad, launchpool, and startups.
US traders accepted
UK traders accepted
Japanese traders accepted
Aussie traders accepted
Allowed countries
All countries except United States, Canada, Singapore, Seychelles, Cuba, Iran, Syria, North Korea, Crimea, and Sudan.
Restricted countries
United States, Canada, Singapore, Seychelles, Cuba, Iran, Syria, North Korea, Crimea, and Sudan.
GET 30% Rebate - Get 30% rebate of your trading fees

Bitforex exchange review

Bitforex, founded in 2018, is a cryptocurrency exchange that offers its users a range of services including spot trading, derivatives trading, and OTC trading.

Currently it's possible to trade more than 500 cryptocurrencies on Bitforex.

In this Bitforex review we will take an in-depth look at Bitforex exchange, safety, ease of use, fees, trading options, customer support, user reviews, and more.

Bitforex exchange bonuses

Bitforex does currently not offer any welcome bonuses to new users.

Bitforex safety and regulation

What can be said about Bitforex safety and security?

Is Bitforex exchange safe to use?

When it comes to safety, Bitforex takes multiple measures to ensure the security of your funds and personal information. The exchange uses two-factor authentication methods to secure the accounts, has regular security audits, and sophisticated encryption mechanisms to protect data.

Despite these measures, there have been a few reports of hacking attempts, and users should always be vigilant with their account security.

Bitforex exchange licenses

Bitforex exchange operates under regulations enforced by the Seychelles' Financial Services Authority (FSA). While the Seychelles is not known for regulating cryptocurrency exchanges, they do have stringent requirements and regulations for companies like Bitforex operating under its jurisdiction.

As far as we know, Bitforex does not have any other licenses.

Bitforex exchange account security options

Bitforex offers account security through two-factor authentication, mobile SMS verification or email, Anti-phishing code, Google Authenticator, and hardware wallets.

Deposits & withdrawals on Bitforex platform

Which payment options does Bitforex offer?

How to deposit money into Bitforex exchange?

Bitforex exchange supports multiple cryptocurrencies that users can deposit in their accounts using the exchange's wallet system.

So the main option of deposits is cryptocurrencies.

Additionally it is also possible to deposit using your credit card or bank account using third-party payment providers.

How to withdraw from Bitforex exchange?

To withdraw funds from Bitforex exchange, users must first complete KYC verification. Once verified, users can withdraw their funds to a supported wallet address. Withdrawal processing times may vary, depending on network congestion and other factors.

Bitforex exchange fees

Are Bitforex fees low? Or are they on the higher side?

Deposit fees

Bitforex exchange does not charge any deposit fees.

Withdrawal fees

Withdrawal fees on Bitforex vary depending on the type of cryptocurrency.

Trading fees

Base trading fees on Bitforex exchange are 0.1% for both Taker as well as Maker, but the fees can go down depending on your trading volume.

Trading on Bitforex exchange platform

Bitforex exchange offers users a range of trading options, including spot trading, derivatives trading, and OTC trading. The platform supports a wide range of cryptocurrencies and trading pairs, making it easy for users to take advantage of the latest market trends.

How high leverage does Bitforex exchange offer?

Bitforex exchange offers users the option of trading with high leverage of up to 100x. While high leverage can be beneficial in some situations, it can also result in significant losses.

Bitforex exchange KYC

What are Bitforex KYC requirements?

Do you have to verify your account on Bitforex exchange?

No, it is possible to trade on Bitforex without IT verification as well. But for higher limits KYC is required.

How to verify your Bitforex exchange account?

To complete KYC verification on Bitforex exchange, users must submit ID documents, including a valid passport or government-issued ID, and proof of residence, usually in the form of a utility bill or bank statement.

Why and when should you verify your Bitforex  account?

We recommend you go through the KYC process the moment you make your first deposit.

Bitforex exchange app

Bitforex exchange has a mobile app available for both iOS and Android devices. The app is user-friendly and has essential features, making it easy for users to access their accounts remotely and manage their trades.

Bitforex earn

Bitforex exchange has an earn feature that allows users to earn passive income through savings, staking, and crypto loans.

Bitforex customer support

Bitforex has a responsive customer support team that can be accessed via email, social media, and the exchange's Help Center.

Pros and cons of using Bitforex exchange

Good selection of cryptos
No fiat
Low fees
No KYC trading possible
Account security options
Reports of hacking attempts in the past

Limited deposit and withdrawal options

Is Bitforex exchange simple to use?

Bitforex exchange has an intuitive user interface that makes it easy for both beginners and experienced traders to navigate the platform.

Which countries does Bitforex exchange accept people from?

Bitforex exchange is available to users worldwide, with the exception of residents from countries where cryptocurrency trading is banned.

Can people from USA, Canada, and Japan use Bitforex exchange?

No, residents of the USA, Canada, and Japan are not allowed to use Bitforex exchange due to regulatory restrictions.

What do players think about Bitforex exchange based on reviews and comments on other websites?

User reviews about Bitforex exchange on other sites are mixed, with some users praising the platform's simplicity as well as low trading fees while others criticize the exchange's reliability and bad customer support.

Final Thoughts

Bitforex offers a broad range of trading features for cryptocurrency traders. The exchange's low trading fees, high leverage options, and flexible security options make it a popular choice among cryptocurrency enthusiasts.

While there have been reported hacking attempts on the platform, Bitforex takes security measures seriously and is committed to ensuring its users' funds and personal information are secure.

However, it is important to note that the exchange is regulated by the Seychelles FSA, which may raise concerns for some users. There are also numerous bad reviews about he exchange, so we recommend you to do your own research, as always.

Top 3 Alternatives to Bitforex

If this exchange is not for you, find alternative low fee exchanges below:
  1. Binance
  2. Bybit

Quick answers to frequently asked questions

Does Bitforex offer any kind of welcome bonuses to new users?
No, currently they are not offering any bonuses for signing uo.