Xeggex Review – Is It Truly Secured As Advertised?

Generally, Xeggex, or Zeg-Ex how it should be pronounced, doesn’t reveal much legal information. Luckily, crypto news platforms reveal their headquarters are based in Seychelles. Not the most convenient country to register a crypto platform. Like it’s not enough that crypto transfers are anonymous by themselves. 

In any case, to discover if your money is safe with this exchange, make sure to read this Xeggex review carefully.

Legal Info: Is Xeggex Legit Or A Scam?

As a centralized exchange registered in 2021, the company should know much more about transparency. After all, we are more than a decade in the crypto revolution. Sadly, they don’t think the same. Therefore, the only way to find out if you can trust them or not is with Digital Asset Service Provider licenses.

Overall, we recommend you trust firms with trusted regulations like AMF, SEC, FCA, or similar. Yet, the worst part of all is that this platform doesn’t have literally any. Consequently, their security standards and cold storage features can’t be that much trusted.

Who Are Xeggex’s Victims?

With active services since 2021, you would expect much more Xeggex reviews, especially positive ones. Thus, once you start reading those, you realize that almost 20% of users are victims in one way or another. And in the case of this exchange, those mainly come from: 

• Turkiye
• France
• United States
• Brazil

Obviously, targeting countries with top-tier regulations is the company’s specialty. To learn how to recognize similar companies, check our AssetivaX review, as well. Meanwhile, if you have trouble withdrawing funds with this exchange, let our refund specialists know.

Traders Reviews

Whether you check Trustpilot or Reddit comments about the Xeggex exchange, you will realize it’s not among the most trusted ones. As can be seen, some traders report it as a scam. On top of that, out of 94 comments on Trustpilot, almost 20% come with some complaints.

Therefore, traders have a high chance of experiencing issues with the Xeggex app. Believe it or not, there’s a positive side to it. You can simply reach out to our refund team and find out how to recover your money.  

Investment Costs With Xeggex Exchange

Overall, the fees you can expect with this company are quite fair, starting at 0.2%. The lowest you can get is 0.06%. But let’s be honest, if you have reliable service that you can trust, not even 0.2% is that problematic.

Nevertheless, one way to promote proprietary XPE tokens is to offer lower fees if you have a higher 30-day trading volume. Also, that gives you a chance to lower your fees by an additional 25% if you use the XPE token to pay for costs.

Bonuses

When it comes to starting bonuses, some exchanges might offer them, but mostly when they promote ICOs or proprietary tokens. Luckily, with this platform, such offers are not available. Believe it, without regulations you don’t want bonuses.

Xeggex Trading Features

Besides regular spot trading, the company offers a few other interesting options. For instance, P2P exchanges, faucets, and giveaways, but also NFTs. Of course, we shouldn’t forget the proprietary token options. At the moment, the Xeggex token price sits at $0.202.

Trading Platforms Available

Very often, you will see trusted exchanges offering dedicated desktop and mobile apps. But could that help to make Xeggex legit? Of course, not. 

In any case, they only offer a web-based solution with allegedly secured cold storage, advanced authentication, backups, encryption, etc. With all the complaints, we wonder how traders have issues if it’s all that slick.

Available Trading Assets

With more than 500 crypto-tradeable assets, the company can easily compete with top-tier exchanges. Regardless of their reliability, the offer is quite attractive, especially with the NFTs included. 

Nevertheless, once you complete the Xeggex login process, you’ll have options like: 

• TRX
• DOT
• ADA
• SAL
• ZEC and many more.

Account Types

Generally, traders can join the Xeggex platform without any special requirements. Not even KYC is required to get started. When it comes to classification or some special treatments, there are none.

Mobile Trading App

What’s surprising about this exchange is that iOS and Android users don’t have dedicated apps in the offer. For most crypto enthusiasts that might be a deal-breaker, mainly due to security reasons. To find out more about the importance of crypto security, check our Musbex review.

Demo Account

To be fair, traders can rarely expect a demo account with crypto exchanges. The business is quite straightforward. Therefore, the only option to test out the company is to deposit money and experience it firsthand.

Education

When it comes to crypto and NFT education, the company doesn’t offer any. If you don’t know anything about it, we would advise you to stay away from it for a while. Or simply choose licensed exchanges where you can find more educational material.

Xeggex Withdrawal

One of the positive things about this firm is transparency of Xeggex withdrawal fees for all coins. In most cases, the fees are way below $1 approximately. 

On the other hand, withdrawals of DETF may take up to $10 and its price currently is $245. Therefore, you can have an idea of fees in percentages.

Customer Support

As can be seen, the Xeggex crypto exchange advertises full-time support availability. Yet, the only way to reach the support is through ticket, Telegram, and Discord. With many traders reporting being kicked out of support channels, you might reconsider your exchange choices.

Key Information To Consider About Xeggex

The only detail you should remember is that this exchange is not regulated anywhere. On top of that, they offer services in the US and Canada. Consequently, the chances of experiencing issues are extremely high. Especially after numerous reports of missing funds, withdrawal issues, and high fees.

If you are one of those experiencing such problems, contact our refund team today for a free consultation about refund options. Don’t let it slip.

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