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BitForex Review

Last Updated on January 31, 2024

James Headshot
Written by
Adam Headshot
Edited by
BitForex logo
2.92
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.
Visit BitForex

The Bottom Line Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

To encapsulate, BitForex presents an appealing option within the crypto exchange domain. With its expansive services, from spot to perpetual trading, and its emphasis on security and user experience, BitForex is suitable for individuals seeking a reliable platform for their crypto journey.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Pros

  • Wide range of cryptocurrencies available
  • Low trading fees compared to other exchanges
  • User-friendly interface for beginners and advanced traders
  • Strong liquidity, providing efficient trades
  • Offers spot trading, margin trading, and futures contracts

Cons

  • Has faced security issues in the past
  • Customer support can be slow to respond
  • Not as widely recognized as some other exchanges
  • The regulatory status is unclear in some regions
  • Limited educational resources for new traders

Quick Summary

Headquarters Location Singapore
Fiat Currencies Supported (through third party apps) USD, AUD, GBP, CAD, EUR + 23 others
Total Supported Cryptocurrencies 290+
Trading Fees 0.10%
Deposit Methods Mercuryo, Coinify, Banxa, Advcash, Moonpay
Support Facebook, Twitter, Instagram, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

As the digital currency landscape continues to evolve, BitForex stands out as a prominent player in the cryptocurrency exchange industry. This review delves into the various facets of BitForex, aiming to provide a comprehensive overview of its services, usability, and more.

BitForex homepage

The digital currency space continues to burgeon, and BitForex plays a significant role as a global hub for digital asset trading. Building on its established reputation, this exchange continues to expand its influence and adapt its offerings to meet the ever-changing demands of the digital currency market.

BitForex’s growth trajectory reflects the broader trends in the cryptocurrency environment, as it seeks to innovate and improve upon its user-centric approach.

About BitForex

BitForex is a cryptocurrency exchange with a foundation rooted in Hong Kong. Since its inception, the company has been focused on providing a wide range of digital assets for trading.

The exchange boasts of high liquidity and a vast array of trading pairs, catering to the needs of both novice and experienced traders globally.

BitForex features

BitForex’s journey is emblematic of the rapid maturation of cryptocurrency exchanges. Throughout its history, the company has navigated a path through fluctuating market trends, regulatory landscapes, and technological advancements.

It has positioned itself in a competitive market by constantly adding new assets and features that cater to the diverse needs of digital currency traders. BitForex’s establishment in Hong Kong places it at the crossroads of East-West trade and finance, allowing it to leverage the region’s dynamic economic climate and strong tradition of foreign companies thriving within its borders.

BitForex has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Discord, Reddit, Telegram, TikTok and YouTube.

BitForex has a mobile app on Google Play.

BitForex Supported Cryptocurrencies

BitForex supports trading on over 290 cryptocurrencies on their platform. This exchange currently supports 26 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • XRP (XRP)
  • USDC (USDC)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Avalanche (AVAX)
  • Shiba Inu (SHIB)
  • Chainlink (LINK)
  • TRON (TRX)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Bitcoin Cash (BCH)
  • Toncoin (TON)
  • Uniswap (UNI)
  • Litecoin (LTC)
  • Internet Computer (ICP)
  • Dai (DAI)
  • Ethereum Classic (ETC)
  • Filecoin (FIL)
  • Cosmos (ATOM)
  • Immutable (IMX)
  • NEAR Protocol (NEAR)
  • UNUS SED LEO (LEO)
  • Aptos (APT)
  • Stacks (STX)
  • Optimism (OP)

View all cryptocurrencies BitForex supports

  • 1INCH
  • AAVE
  • ABBC
  • ABYSS
  • ACH
  • ADA
  • AGI
  • AIDOGE
  • AIONE
  • AKRO
  • ALGO
  • ALPHA
  • AMP
  • AMT
  • ANKR
  • APE
  • APFC
  • APT
  • APX
  • ARB
  • ARC
  • ARKM
  • ARTT
  • ARV
  • ASTA
  • ATOM
  • AUDIO
  • AVAX
  • AXS
  • BABYDOGE
  • BAT
  • BCH
  • BDCC
  • BEAM
  • BEN
  • BERC
  • BF
  • BFIC
  • BICO
  • BISKIT
  • BKR
  • BLUR
  • BLZ
  • BNB
  • BOB
  • BONE
  • BONK
  • BRISE
  • BRZ
  • BSV
  • BTC
  • BTRST
  • BTT
  • BVV
  • CAKE
  • CAPO
  • CAPP
  • CAT
  • CATS
  • CBSL
  • CCOIN
  • CDEX
  • CETUS
  • CHEEL
  • CHEEMS
  • CHZ
  • CNG
  • COMBO
  • COMP
  • COPIUM
  • CORE
  • CRV
  • CTXC
  • CVX
  • CYBER
  • DACXI
  • DAI
  • DASH
  • DBX
  • DHS
  • DIE
  • DOGBOSS
  • DOGE
  • DOT
  • DPET
  • DYDX
  • DZOO
  • EFI
  • EFK
  • EGLD
  • ELMO
  • ELON
  • ENJ
  • EOS
  • EPAN
  • ETC
  • ETH
  • EVED
  • EWT
  • EXCC
  • FERC
  • FGHT
  • FIL
  • FIO
  • FLOKI
  • FLUX
  • FREE
  • FRONK
  • FTM
  • FUND
  • FXS
  • G999
  • GAL
  • GALA
  • GEN
  • GENE
  • GERA
  • GHST
  • GLI
  • GMMT
  • GMT
  • GODS
  • GRIN
  • GRT
  • GRV
  • GST
  • GWP
  • H3RO3S
  • HAM
  • HATCHY
  • HIGH
  • HK
  • HMR
  • HT
  • HXA
  • ID
  • IMX
  • IOTA
  • IOTX
  • IXP
  • JESUS
  • JOT
  • JSM
  • KAI
  • KLAY
  • KONG
  • KTK
  • KUNCI
  • LADYS
  • LARRY
  • LDO
  • LINK
  • LIT
  • LOOKS
  • LOVE
  • LPT
  • LTC
  • LUNA
  • LUNC
  • LYO
  • LYUM
  • MAGIC
  • MANA
  • MASK
  • MATIC
  • MBASE
  • MCOIN
  • MECI
  • MEMEME
  • MILO
  • MINT
  • MIR
  • MKR
  • MMUI
  • MONKEYS
  • MONTE
  • MOVR
  • MPT
  • MTRX
  • MTV
  • NALS
  • NEO
  • NTB
  • OCEAN
  • OGN
  • OHMS
  • OM
  • OMI
  • OMNIA
  • OP
  • ORT
  • OXBT
  • PAW
  • PAXG
  • PEEPO
  • PEOPLE
  • PEPE
  • PEPEAI
  • PHA
  • PICKLE
  • PKOIN
  • PLAT
  • PLOUTOS
  • POLL
  • POLS
  • PSYOP
  • QNT
  • QOM
  • QTUM
  • RACA
  • RAZOR
  • RDNT
  • REVV
  • RFD
  • RITE
  • RLC
  • RNDR
  • ROCO
  • ROOBEE
  • RPL
  • RVN
  • SAND
  • SEI
  • SENSO
  • SHAKE
  • SHIB
  • SHIBAI
  • SHIBL
  • SHS
  • SLEEPEE
  • SMR
  • SNX
  • SOL
  • SOLO
  • SOON
  • SPAI
  • SPY
  • STAR
  • STYL
  • SUI
  • SUN
  • SUSHI
  • SYS
  • T
  • TAMA
  • TC
  • TKP
  • TMON
  • TNC
  • TOMO
  • TON
  • TORN
  • TRR
  • TRU
  • TRX
  • TSUKA
  • TURBO
  • TWT
  • U
  • UNFI
  • UNI
  • UNW
  • USDC
  • USDT
  • UUSD
  • VCHF
  • VEGA
  • VEUR
  • VIB
  • VINU
  • VLX
  • VNXAU
  • VNXLU
  • VRA
  • WAGMI
  • WAGMIGAMES
  • WEMIX
  • WHALE
  • WLD
  • WOJAK
  • WOOF
  • WSB
  • XLM
  • XRP
  • XTZ
  • YFI
  • YGG
  • YOUC
  • ZEC
  • ZLW

Trading Experience

BitForex offers an intuitive interface that is welcoming for new users whilst still providing advanced features for seasoned crypto traders. Its trading experience is enhanced by the availability of numerous trade pairings, perpetual contracts, and an excellent charting interface, catering to diverse trading strategies.

The trading experience on BitForex is shaped by its wide range of features, from advanced charting interfaces to comprehensive trading tools. Traders can engage with a variety of digital assets, including major cryptocurrencies and innovative products like perpetual contracts.

The mobile application enhances accessibility, allowing users to engage with markets and manage positions on-the-go. With tools like trade mining and BitForex Turbo, the platform crafts a unique ecosystem where traders can seek a trading edge.

BitForex exchange marketing

BitForex Fees

BitForex employs a competitive fee structure that aligns with the industry average. The fees are designed to accommodate a range of traders, from those engaging in spot trading to those who participate in more advanced trading tools such as margin trading.

The structure is tiered, taking into account the volume of trades and the maker-taker model.

BitForex’s fee structure is a testament to its understanding of market competition and user needs. By offering a tiered model that rewards higher trading volumes with lower fees, the exchange aligns itself with the expectations of both casual and professional traders.

The discount for maker orders is an incentive that encourages liquidity, benefiting the ecosystem as a whole. BitForex’s approach to transaction costs, avoiding a one-size-fits-all strategy, demonstrates its commitment to providing a flexible and fair trading environment.

Type Fee
Trading Fee 0.10%

BitForex supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.0005 BTC compared to the industry average of 0.000075 BTC. So BitForex has a fee that is above the industry average by 566.67%.

Security - Is BitForex Safe?

Security on BitForex is taken seriously, with a suite of measures including two-factor authentication and insurance security coverage for user funds. The exchange complies with industry standards to ensure that accounts and digital assets are safeguarded against unauthorised access.

Spotlighting security, BitForex’s multifaceted strategy includes a blend of advanced tech like multi-factor authentication and insurance security coverage for user funds. The exchange’s commitment to safeguarding accounts and assets is seen in its investment in both hot and cold wallet systems, ensuring that a breach in one layer of security does not compromise the entire system.

The robust security measures implemented by BitForex resonate well with the increasing demand for high-security features in blockchain apps and exchanges.

BitForex Customer Support

Customer support on BitForex is accessible through various channels including email and chat service. Users can expect assistance with their accounts, trades, and any other issues, although there is room for improvement in response times to ensure user experience remains a priority.

Customer service forms a critical pillar of the BitForex offering. The exchange has recognized that, despite having an extensive selection of tools and services, customer service issues could arise.

Therefore, a dedicated team is tasked to handle inquiries and support requests promptly, with multiple access options such as email and chat service. The focus is not just on resolving issues but also on providing educational resources to empower users to make informed decisions on the platform.

BitForex support

BitForex Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

How to Sign Up on BitForex

  1. Create Account - Visit the BitForex website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you can deposit using the methods listed below. Note that this exchange only supports depositing fiat currencies through third party apps it supports.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Paypal
  • Apple Pay
  • Google Pay
  • Mercuryo
  • Coinify
  • Banxa
  • Advcash
  • Moonpay

BitForex Alternatives

Binance logo

Binance

3.27
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
359+

Trading Fees
0.10%

Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 78 others

Visit Binance
Kraken logo

Kraken

3.67
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
233+

Trading Fees
0.06% - 0.16%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other

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OKX logo

OKX

3.75
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
332+

Trading Fees
0.06% - 0.10%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others

Visit OKX

Final Thoughts

Concluding thoughts on BitForex highlight the exchange’s comprehensive offerings, from a multitude of crypto assets to advanced trading features. The platform provides traders with a robust environment conducive to engaging with the dynamic crypto market.

BitForex FAQs

BitForex employs various security measures to protect its platform and users, including industry-standard encryption, two-factor authentication (2FA), and cold wallet storage for the majority of funds. The specific effectiveness of these security measures can vary, and users should conduct their own research and use personal security best practices when using any crypto exchange.

BitForex offers its services to a wide array of countries globally. However, the availability of its services in specific countries may be subject to the local regulatory environment and changes over time.

BitForex is not a US-based company. It is an international cryptocurrency exchange that operates in various countries around the world.

The identity of the founder or founding team of BitForex is not publicized. The exchange typically emphasizes its team’s experience in the industry rather than individual biographies.

The limits on BitForex can refer to trading, withdrawal, or deposit limits, and these are often tiered based on verification levels. Users typically need to complete identity verification processes to increase their limits.

The specific limits can vary based on the user’s account level and other compliance requirements.

BitForex is known as an international cryptocurrency exchange. The specific country of origin may not be clearly stated, as it serves a global user base with operations in multiple locations.

The CEO of BitForex can change over time, and the current CEO may not be public knowledge. As with many crypto exchanges, this information can be found on the official BitForex website or through official company press releases.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

James Headshot
Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

Check James out on:
Adam Headshot
Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

Check Adam out on: