Crypto exchanges with dedicated SEC-compliant trading features are rare. If you’re in the U.S. and interested in trading highly regulated crypto assets, the INX platform allows you to do so with ease. This detailed INX review covers the platform’s regulatory stance, features, trading fees, and user experience in 2024.
KEY TAKEAWAYS
• The INX trading platform is a fully regulated platform compliant with FINRA and SEC.
• The platform is known for offering security tokens, allowing you to trade and invest in digital assets within a regulated ecosystem.
• The platform’s native INX token is equipped with various use cases.
• The platform’s features are limited; margin trading, leverage trading, access to crypto-focused perpetual contracts, and futures trading are not supported on INX.
INX review: Overall assessment
Are you looking to make a quick decision about the INX trading platform? Here is an overall assessment table to help you choose better:
| Criteria | Supported cryptocurrencies | Supported fiat currencies | Fees | Features | User experience | Customer support | Security | Our overall score |
| Score | 3/5 | 3.5/5 | 3.5/5 | 4/5 | 4/5 | 4.5/5 | 4.5/5 | 4 |
What is INX?
At its core, INX is a completely regulated financial platform, facilitating the trade of security tokens and several cryptocurrencies. The platform came into existence in 2017, led by its acting CEO, Shy Datika.
While INX is the firm, the crypto trading platform here is INX.One. What sets INX apart is the specific focus on regulated security tokens.
Did you know: INX allows issuance of the security tokens besides supporting 24×7 trading.
Another feather in INX.One’s cap is the historical INX token, which became the first SEC-registered security with a blockchain-specific IPO.
What can I trade on INX?
Standard cryptocurrencies
INX has a small yet impactful collection of standard cryptocurrencies. Some notable names include BTC, ETH, ZEC, AAVE, and more. While most USD pairs enjoy high liquidity, INX even offers other pairs like ETH/USDC, LTC/BTC, and more.
Security tokens
INX.One allows you to trade a handful of security tokens, including MSTO, BCAP, SPICE, PRTS, and more. Currently, only USD pairs for the same are supported to comply with regulatory standards.
Security tokens are more like investment contracts backed by underlying assets, such as bonds, stocks, or other assets. You can consider them the blockchain counterparts of conventional securities. Companies offering trading desks for security tokens must abide by SEC regulations.
How to sign up for INX in 2024?
Now that you know what INX offers, it might be the right time to try out the platform. As a newbie, you need to head to the “get started” section and start with account creation.
Once you enter your email ID and set a password, you need to verify it. After verification, you must fill in the personal info section to get started.
Setting up the personal profile requires answering several questions. Once you have done this, you will move to the KYC process.
The first step is to verify the identity using any of the following documents:
- National identification
- Driver’s license
- Passport
Next, address verification can be completed using any of the following documents or similar ones:
- Bank statements
- Credit card statements
- Tax returns
- Utility bill
After that, you must complete the signup process and head over to the trading platform. To trade tokens, you might even want to connect your MetaMask wallet and set additional layers of security.
Welcome offer/bonus
INX offers some perks to new users. If you join via a referral link, a trading volume of $1,000 for INX pairs makes you eligible for a $20 bonus.
Users referring can earn up to $60 as bonus credits across multiple trading levels for each referral. You can refer up to 300 friends monthly, increasing your chances of earning a sizable passive income.
Deposit and withdrawals
Before you start trading, it’s important to familiarize yourself with INX’s deposit and withdrawal processes, including limits, associated fees, payment methods, and other relevant details.
For starters, you can connect your web3 wallet to INX to deposit cryptocurrencies or use other payment methods to make direct purchases. Other payment methods in this context include wire transfers and credit/debit cards.
INX charges a flat fee of $15 for deposits made via wire transfers. Also, if you choose to deposit crypto and later wish to convert the same to USD for off-ramping, there is a flat fee of 1.2% to account for.
Deposit times for crypto transfers and debit/credit cards are almost instant. However, wire transfers take between a few hours and a few days. And yes, there is a flat 3.75% credit/debit card deposit charge.
Similar to deposits, even bank or wire withdrawals can take longer than crypto transactions. To withdraw crypto from INX, you must pay a fee, depending on the crypto and the network. In the case of BTC, the price is set at 0.0005 BTC, whereas for ETH, the same is 0.013 ETH.
Outgoing wire transfers are charged at $35 in the U.S. and internationally. However, there is one thing you, the trader, should account for. INX offers security tokens and cryptocurrencies with different rates associated with trading, withdrawals, and more.
Here is the fee schedule for security tokens:
For standard cryptocurrencies, here are the associated trading, funding, and withdrawal fees:
How does INX compare to others?
The best way to analyze a trading platform is to compare it with some of the bigger names in the space. Here’s a quick look at how INX stacks up against Binance and Coinbase.
INX vs. Coinbase
While Coinbase has a more mainstream appeal, high liquidity, and a wide range of trading pairs, INX offers a more competitive fee schedule for specific cryptos. Also, INX’s unique feature involving security tokens sets it apart from the competition.
Plus, INX is completely regulated courtesy of its SEC-specific alignment, making it a more credible option for U.S. users. Notably, even Coinbase is available to most U.S. users.
INX vs. Binance
If you’re interested in discovering and trading newly launched coins and accessing specialized passive earning opportunities, Binance is a clear choice in this area. However, for those concerned with seamless operations in the U.S., INX’s strong regulatory compliance is a major advantage.
It is worth noting that none of the exchanges we discussed offer diversified options like forex trading, crypto CFDs (Contracts for Difference), ETFs, stocks, and more. If diversification is your priority, you can opt for platforms like eToro, AvaTrade, and more.
In a nutshell: INX vs. Coinbase vs. Binance
| Feature | INX | Coinbase | Binance |
| Regulatory dompliance | Fully regulated by SEC and FINRA in the U.S. | Regulated by U.S. authorities (SEC, FINRA) | Complies with various global regulations but faces restrictions in the U.S. |
| Supported assets | Cryptocurrencies and security tokens | Wide range of cryptocurrencies | Wide range of cryptocurrencies |
| Security tokens | Yes, focus on regulated security tokens | No | No |
| Customer support | Decent support with ticketing system, FAQ, and social media presence | Overall good support via live chat, email, and phone | Support available via live chat, email, and extensive online resources |
| Mobile app | Yes, full features on iOS and Android | Yes, full features on iOS and Android | Yes, full features on iOS and Android |
| User Interface | Lacks advanced trading options like margin or leverage | Supports advanced trading features like margin and staking | Offers advanced trading features including margin, futures, and staking |
| User interface | User-friendly with a focus on simplicity | Intuitive and beginner-friendly | Advanced features but with a steeper learning curve for new users |
| Deposit and withdrawal | Wire transfers, credit/debit cards, crypto deposits | Bank transfers, credit/debit cards, PayPal | Wide range of methods including credit/debit cards, P2P, and crypto deposits |
| Security measures | Two-factor authentication, wallet whitelisting, encrypted protocols | Two-factor authentication, insurance on U.S. balances | Two-factor authentication, SAFU insurance fund for users |
| Global availability | Available primarily in the U.S. with some restrictions in other regions | Available in over 100 countries | Available globally, but restricted in some countries including the U.S. |
| Native token | Yes, INX Token (offers fee discounts and other perks) | No | Yes, BNB Token (offers fee discounts and other perks) |
| Best For | Users interested in regulated security tokens | Beginners and those looking for ease of use | Advanced traders looking for a wide range of assets and features |
Features and tools from INX
It is important for an exchange or, rather, a trading platform to have trader and investor-friendly features. Let us analyze what INX has to offer:
The trading consortium
INX lets you trade standard cryptocurrencies, security tokens, and more, letting you view the entire list of the INX markets. INX’s trading ecosystem also comes with a crypto conversion calculator, which you can use to track the fiat equivalent of all the cryptocurrencies listed on the platform.
Direct investing
Remember that we discussed the security tokens listed on INX. While trading them is an option, you can even invest in specific token offerings. Once you invest, you associate yourself with the primary token market or the secondary markets after the ICOs and other fundraising scenarios.
INX institutional traits
If you are a company or a business and looking to raise your own security token, INX has you covered. You can list your token on INX after thorough checks, eventually raising capital in the process. The listing features include customizing holder rights within the ecosystem, the ability to trade the same 24×7, and more.
From pre-issuance support to hosting the primary offering to handling SEC registration to everything else, INX offers an end-to-end solution.
Educational tools
On INX, you can access a host of educational tools. INX Academy is one of the highlights, boasting beginner, advanced, and expert-level resources. You can even head over to the “Inxperts” section, where insightful topics are listed directly from the desk of seasoned crypto experts. Besides that, INX offers a stacked selection of newsletters.
INX token
The native token has a host of utilities associated with it. An SEC-registered token, INX token came into existence in 2017 and, in 2021, was listed on the secondary crypto market for the general public. INX tokens also help traders get fee discounts of up to 40%.
Mobile support
INX.One can be accessed as an iOS or an Android application. While the app itself adheres to the regulatory standards, it has all the web platform’s features to help you execute trades and handle the learning part without breaking a sweat.
On the mobile apps, you get access to quick price tracking, a seamless buying, selling, and swapping UI, and round-the-clock customer support. Also, the INX user interface, relevant to the mobile apps, is simple and beginner-friendly.
Besides the mentioned traits, INX comes with a geo-available crypto tracker, letting you check if the right crypto is available in your region or not.
Security and payment processing
INX employs top-end security measures and protocols to safeguard user information and assets. Below are some key features that underscore the security framework of INX:
- Stringent verification standards
- Two-factor authentication
- Wallet whitelisting
- Encrypted protocols for security against breaches
- Secured payment processing gateways per PCI DSS compliance
- Regular security audits
Customer support
INX has a minimal yet efficient customer support system. While the Trustpilot score of 4.1 validates the faith users have in INX as a company, other elements of the customer support setup include the following:
- Detailed FAQ section
- The ability to raise tickets manually via the contact form
- A dedicated video help section
- An active Twitter (X) handle and presence across multiple channels
We tested the ticketing system by raising concerns about withdrawals. This was acknowledged and resolved within 24 hours.
Regulatory compliance and safety
- INX is aligned with FinCEN — Financial Crimes Enforcement Network
- It also holds money transmitters and related licenses to operate in the U.S.
- SEC and FINRA (Financial Industry Regulatory Authority) regulated
- Allowed to operate as a broker-dealer
These regulatory standards showcase INX’s commitment to operating within the legal setup, making it one of the more credible options around.
Here is a bit on crypto regulation outside of the U.S.
“The United Kingdom has a once in a generation opportunity to lead on crypto regulation. Crypto regulators globally have a low bar to meet, where a public consultation gets top marks.”
Jaosef.eth, co-founder of Aztec Network: Twitter
Is INX the right platform for you?
Overall, INX appears to be a stable platform for users to trade and invest in cryptocurrencies, including security tokens. It is regulated and has a decent customer support service along with a transparent and competitive fee structure. Additionally, the educational resources, such as the INX Academy, are designed to accommodate diverse learning preferences.
However, even with INX’s strong regulatory framework, it is important to invest only what you can afford to lose. And as always, do your own research and consult a financial expert whenever in doubt.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Trading or buying security tokens comes with risk, as does interacting with any form of decentralized ecosystem. Profits are not guaranteed.
Frequently asked questions
INX is a completely regulated cryptocurrency trading platform that allows you to trade and invest in a small selection of cryptocurrencies. Yet, INX is famous for its offerings involving security tokens, which are SEC-regulated digital assets. Also, INX can operate freely in the U.S.
However, you cannot indulge in perpetual contracts, derivatives like Futures trading, and other crypto products on INX.
INX supports crypto and fiat withdrawals. While crypto withdrawals are quick and almost instant, provided there is no network congestion, fiat withdrawals involving wire transfers might take a few days to process and conclude.
Apart from the immersive web interface, the INX mobile app is also there. You can use the Android or iOS INX mobile app, depending on the type of phone you have. It is worth noting that both these apps are highly rated and offer a highly interactive UI.
No, per the latest info, INX doesn’t offer demo trading or paper trading support of any kind. Using the platform means getting right into the trading or investing zone. However, you can use the academic resources to learn more about trading strategies.
INX doesn’t have any limits imposed on deposits. However, the withdrawal limits depend on the transaction fee associated with any given crypto and network. Even wire transfers have withdrawal fees associated with them, which can also manipulate the limits. As credit and debit card deposits have associated charges of 3.75%, the deposit limits are assigned accordingly.
INX charges withdrawal fees depending on the nature of the withdrawals. For crypto withdrawals, say BTC, you must pay a fee of 0.0005 BTC. For outgoing U.S.-based wire transfers, there is a $25 fee. International wire transfers attract a $55 fee.
Yes, INX can be trusted as a cryptocurrency trading platform, courtesy of positive user reviews on TrustPilot. Besides that, INX is completely regulated and brings in advanced security protocols to further protect user funds and data. Plus, INX trading tools and features are simplistic, allowing users to move beyond complexities.
Disclaimer
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