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.
- INX review: Our overall assessment
- What is INX?
- What can I trade on INX?
- How to sign up for INX in December 2024
- Welcome offer/bonus
- Deposit and withdrawals
- How does INX compare to others?
- Features and tools from INX
- Security and payment processing
- Customer support
- How we have tested INX
- Regulatory compliance and safety
- Invest responsibly
- Is INX the right platform for you?
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:
|Supported fiat currencies
|Our overall score
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?
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.
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.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.
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.
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.
Setting up the personal profile requires you to answer several questions. Once done, 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
Next, address verification can be completed using any of the following documents or similar ones:
- Bank statements
- Credit card statements
- Tax returns
- Utility bill
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.
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 fees, funding, trading, and more, included:
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.
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.
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.
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%.
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 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
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 a concern about withdrawals. This was acknowledged and resolved within 24 hours.
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
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
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.