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INX Review 2024: An Overview of the Security Tokens Trading Platform

11 mins
Fact Checked
by Maria Petrova
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Rarely do we come across crypto exchanges with dedicated SEC-compliant trading features built within. Therefore, if you’re in the U.S. and interested in trading highly regulated cryptocurrency assets such as MSTO, BCAP, and INX, the native token of the INX platform allows you to do so easily. With just a few clicks, INX facilitates trading these and other cryptocurrencies. 

Our detailed analysis of INX’s regulatory stance, features, trading fees, and user experience will guide your decision-making for choosing it as your preferred trading platform.

Availability
15
Cryptos
15
Trading fees
0.3%
Bonus
$20 bonus

INX review: Our overall assessment

Before we delve deeper into the INX review, here are some key takeaways to keep in mind:

  • The INX trading platform, unlike others, 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 INX platform, available on the web, Android, and iOS, provides a user-friendly interface.
  • The platform features its native INX token, equipped with various use cases.
  • Features like INX margin trading, INX leverage trading, access to crypto-focused perpetual contracts, and futures trading aren’t supported.

Are you looking to make a quick decision about the INX trading platform? Here is an overall assessment table to help you choose better:

CriteriaSupported cryptocurrenciesSupported fiat currenciesFeesFeaturesUser experienceCustomer supportSecurityOur overall score
Score3/53.5/53.5/54/54/54.5/54.5/54
INX review: Overall assessment

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.

INX review and the team behind it board of directors Keren Avidar
INX review and the team behind it: INX

What can I trade on INX?

INX stands out for its versatility, offering more than just security tokens. For the unversed, security tokens are more like investment contracts backed by underlying assets, bonds, stocks, or more. You can consider them the blockchain counterparts of traditional assets. A security token is a big deal as the company offering trading support related to them needs to abide by the SEC regulations. 

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.

INX review and list of tokens
INX review and list of tokens: INX

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, complying with the regulatory standards.

List of INX security tokens
List of INX security tokens: INX

How to sign up for INX in December 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.

Create an account on INX
Create an account on INX: INX

Once you feed in the email ID and set a password, you need to verify your email ID. Post-verification, you must fill in the personal info section to get started.

INX review and email verification
INX review and email verification: INX

Setting up the personal profile requires you to answer several questions. Once done, you will move to the KYC process.

Personal profile details on INX
Profile details on INX: INX

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
INX signup documents account agreements personal profile
INX signup: INX

Post 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

Yes, INX does offer 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

After signing up, 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.

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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:

INX review and fee structure for security tokens
INX fee structure for security tokens: INX

For standard cryptocurrencies, here are the associated trading fees, funding, trading, and more, included:

INX review and fee structure for standard cryptocurrencies
Trading fees, funding, and more: INX

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. Let us now take this INX review to a larger scale:

INX vs. Coinbase

While Coinbase has a more mainstream appeal, high liquidity, and a wide range of trading pairs to work with, INX offers a more competitive fee schedule for specific cryptos. Also, INX’s unique feature involving security tokens is what sets it aside from any 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 your interest lies in discovering and trading newly launched coins, along with 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. 

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.

INX crypto conversion calculator
INX crypto conversion calculator: INX Crypto Calculator

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 review and direct investing in security tokens
Primary offerings: INX.One

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.

INX review and institutional token issuance
Institutional token issuance: INX.One

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.

INX mobile app
INX mobile app iOS: App Store

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. 

Tracking if your country supports INX
Trading crypto: Inx.One

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. 

INX in India
INX in India: INX

Security and payment processing

INX employs cutting-edge security measures and protocols to safeguard user information and assets. Below are some key features that underscore the robust 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
INX Trustpilot score
Review of INX: Trustpilot

We tested the ticketing system by raising a concern about withdrawals. This was acknowledged and resolved within 24 hours. 

INX review and support page
Support page: INX

How we have tested INX

No element of this detailed INX review is random. Instead, we tested INX for over three months, analyzing the platform for deposit and payment processing ease, nature of customer interaction, trading experience, withdrawal and deposit times, use cases of INX tokens, and more. 

Furthermore, our testing also involved a thorough evaluation of the trading consortium, which includes both cryptocurrency and security tokens, to assess its efficiency and range of options. Additionally, we directly invested through the INX platform to gauge the practicality and effectiveness of its direct investing features, ensuring a comprehensive understanding of the platform’s capabilities.

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

Invest responsibly

Regardless of the trading platform you choose, it is important to have a quintessential DYOR strategy in place. Besides, even on INX, despite the amplified regulatory posture, you should only ever invest an amount you are comfortable with losing.

We would also recommend investing in other asset classes like forex, stocks, and more to have a more diversified approach towards wealth creation.

Is INX the right platform for you?

This INX review establishes the platform as a top-tier choice for both traders and investors in the cryptocurrency market. Additionally, it’s important to note specific attributes of INX that contribute to its appeal. Firstly, the platform is recognized as a niche player, offering specialized services that enable users to trade, invest, and issue security tokens.

Secondly, the educational resources available, including the INX Academy are vast and cater to diverse learning preferences. In all the INX ecosystem emerges as an exceptional option for those who value compliance and security tokens.

Frequently asked questions

Top crypto platforms in the US | February 2024

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Ananda Banerjee
Ananda Banerjee is a technical copy/content writer specializing in web3, crypto, Blockchain, AI, and SaaS — in a career spanning over 12 years. After completing his M.Tech in Telecommunication engineering from RCCIIT, India, Ananda was quick to pair his technical acumen with content creation in a career that saw him contributing to Towardsdatascience, Hackernoon, Dzone, Elephant Journal, Business2Community, and more. At BIC, Ananda currently contributes long-form content discussing trading,...
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