EXMO Review: Should You Use This Exchange?

Selecting a cryptocurrency trading site can be a challenging task. There are several considerations such as the platform features, charting interface, trading pairs, fees, security and customer support. 

For crypto traders and investors in the UK and Europe, EXMO is a suitable exchange that accepts various fiat currencies and deposit methods to begin trading crypto.

While we aim to provide you with accurate and the latest information in this EXMO review, we strongly suggest that you visit the website to keep updated with any changes that may occur afterward.

Key  Features:

  • Wide range of accepted fiat currencies to fund an account
  • 192 trading pairs that can be traded against crypto or fiat
  • Cashback program with generous discounts on trading fees
  • TradingView charting available
  • Mobile app for rapid verification, depositing funds and trading
  • 24/7 support in Russian, English, Ukrainian and Turkish

overall 

3.9/5

Ease of use

User interface

Fees

Security

This post contains affiliate links with our partners who may compensate us. Read our disclaimer for further information.

Before getting started, it is recommended to use a Bitcoin hardware wallet such as the Ledger Nano X when buying and selling cryptocurrency. If you don't have a wallet, read our guide on the best wallets for crypto.

EXMO website

What Is EXMO?

EXMO is a leading UK-based cryptocurrency exchange that is popular across Britain and Europe as it offers crypto trading services to clients in various parts of the continent. The company was established in 2014 and is headquarters in London with supporting offices in Moscow and Kyiv for its team of 150+ people. EXMO released its own native platform token in 2019 called EXMO Coin (EXM). The benefits for users to buy and hold EXM are reduced trading fees & cashback rewards, increased referral commissions and other bonuses.  

Quick Summary

Exchange Name

EXMO

Fiat Currency

USD, EUR, GBP, RUB, PLN, UAH and KZT

Trading Pairs

192

Payment Type

Wire transfer, debit card, credit card, SEPA, e-channels

Trading Fee

Starting at 0.03% per trade

Deposit Fee

3.99% + 0.35 USD for credit cards, 2.49% for Payeer

TP/SL

No

Mobile App

Yes

EXMO Compared

Ease of use, access to a wide range of fiat currencies, security, and instant order execution are some of the features that make EXMO a leading cryptocurrency exchange. Here are a few examples of crypto exchanges like EXMO that offer a similar range of features and services.

Exchange

Trading Fees

Rating

Review

Promotion

Website

binance

Binance

0.1%

4.8/5

10% off trading fees

coinbase

Coinbase

0.5% - 3.99%

4.7/5

$5 BTC bonus (USA only)

FTX Exchange

FTX

0.02% / 0.07%

4.6/5

5% off trading fees

For USA, visit FTX.US

Is EXMO Safe?

EXMO features a wide range of security measures such as cold storage wallets and two-factor authentication (2FA) for all customer accounts. Enhanced security options include IP recognition and verification procedures to minimize unauthorized login from unfamiliar locations. Despite these measures, EXMO was hacked in 2020 that resulted in approximately 6% of the total crypto assets being lost.

According to a company spokesperson, the hacker had access to the hot wallet private keys that enabled access to funds were withdrawn. The reliability and trustworthiness of the exchange have been in some doubt since this incident. EXMO's website states the exchange has been operating for 6 years without security data leaks and hacks despite the above incident last year. EXMO still remains a fairly reliable and popular exchange in the UK and European countries that has facilitated over 100 million transactions per 24 hours.

Features & Benefits

Wide Variety of Trading Pairs

EXMO supports over 60 cryptocurrency coins with more than 192 cryptocurrency pairs available that can be bought and sold on the trading exchange. Each coin can be traded against a wide range of fiat currencies such as USD, EUR, GBP, RUB and UAH to accommodate customers from multiple regions across the USA, UK and Europe.

EXMO supported cryptocurrency

Supported Deposit Methods

One of the best features of using EXMO is the number of fiat currencies that can be used to fund an account. Customers can begin trading by transferring USD, EUR, GBP, RUB, PLN, UAH and KZT. The website features an interactive tool to select the preferred fiat currency. The supported payment methods to buy crypto include wire transfers, credit/debit cards, Payeer and many others.

Cashback & Trading Fee Rebates

EXMO offers a unique cashback incentive program to reduce the trading fees on the exchange. The system is tiered into 4 levels with discounts up to 66% for makers and 100% of takers fees. Cashback bonuses can be increased by purchasing the native token EXMO coins. According to the website, the exchange has paid out over 278 Bitcoin in rewards over the last 30 trading days.

EXMO Cashback

Is Exmo Regulated?

EXMO is not a regulated cryptocurrency exchange or financial advisory service. The exchange has developed its own Know Your Customer (KYC) and Anti-Money Laundering (AML) policies to comply with regulatory requirements that are mandated in several countries worldwide.

Based in London, EXMO is a registered company with the Financial Crimes Enforcement Network (FinCEN) to operate as a digital currency exchange in the UK and EU. However, this license does not mean EXMO is a legitimate company and has been endorsed by the Government as a trustworthy provider of crypto assets. Further to the exchange hack in 2020, EXMO was placed on a temporary registration by FINCEN.

Supported Countries

EXMO is a British cryptocurrency exchange that is available for trading in multiple countries worldwide with a large user base from Russia and Ukraine. There are a few restricted countries that are not allowed to trade on EXMO which include the United States, Japan, China, Syria, North Korea and countries in the Middle East. Individuals that reside in the US will need to find a cryptocurrency exchange that is regulated in the USA.

Volume & Liquidity

According to Coinmarketcap, Exmo is the 33rd largest crypto exchange based on traffic, liquidity, trading volumes, and confidence in the legitimacy of trading volumes reported. The exchange processes roughly $127 million in daily transactions with the majority of trading volume on the BTC/USD and ETH/USD pairs. EXMO has comparable trading volume to Bithumb, OKcoin and Luno.

EXMO trading volume & liquidity

Login & ID Verification

Before trading cryptocurrencies on EXMO, an account needs to be created which will require basic personal information such as email address, username, and a mobile phone number. As the company is based in the UK, it is subject to KYC/AML laws and all new users need to verify their identity to trade, deposit and withdraw funds on EXMO. The different stages of verification include:

  • Identity Verification
  • Address Verification
  • Card Verification
  • Bank Account Verification
  • Corporate Account Verification

Each EXMO account will have different verification requirements depending on the payment method and whether the person is trading as an individual, sole-trader, or as a company. The best way to complete the EXMO verification is using the app to take photos and upload scans of documents.

Exmo login

Deposit Methods

The most common method of funding an account is to transfer digital currencies to an EXMO wallet. There are over 60 supported cryptos that can be deposited to the exchange, which include Bitcoin (BTC), Ethereum (ETH), XRP, DOGE and many others. It will require the user to copy the unique address for the selected coin or scan the QR code when withdrawing from a personal hardware wallet or other exchange providers. 

EXMO payment methods

EXMO supports 7 major fiat currencies for individuals looking to convert fiat into crypto with a wide range of deposit methods available depending on the country of origin. The payment methods include bank transfer, credit/debit cards, SEPA, wire transfer Faster Payments, advcash, BACS and others.

Trading With EXMO

EXMO allows traders to speculate on the prices of over 60 cryptocurrencies using a minimal, responsive and user interface. For beginners that want a quick and easy way to buy crypto, EXMO has a Simple Exchange that lists all of the crypto trading pairs. An asset can be bought or sold using a beginner-friendly dialogue box to enter the amount and confirm the purchase. 

EXMO buy bitcoin

For intermediate to professional traders, EXMO has an Advanced Trading Exchange. The user interface is adaptive that allows the trader to fully customize the arrangement with a light and dark mode available. The default user interface layout is well positioned with the charts on the left and the list of trading pairs on the right. The pairs can arrangement by alphabetical order, price or volume change making it easy to filter and select a particular coin to trade.

EXMO charts

The user interface is integrated with TradingView which provides a well-known and widely used and professional suite of charting tools and indicators to complement various trading strategies. This is the premium charting platform of choice that is integrated into several top exchanges around the world. Users can overlay trend lines, Fibonacci extensions and hundreds of technical indicators such as:

  • Moving averages
  • Relative Strength Index (RSI)
  • Bollinger Bands
  • MACD; and others.
EXMO order book

Below the charts is the order entry window, order book and recent trade history. The window to enter an order is quite basic and features limit and market orders only. The selection of methods does not suit breakout traders that rely on stop-limit orders. Furthermore, EXMO does not support One-Cancel-the-Other (OCO) orders which in our opinion is essential for beginners and intermediate traders to place a stop limit order and limit order at the same time.

Overall, the trading experience on EXMO is suited to beginner traders and investors that want to trade a wide range of cryptocurrencies. The charts are exceptional and very responsive which provides all the required tools to perform technical analysis. However, the limited number of order types to suit various trading strategies is a negative in our opinion.

Trading Fees

EXMO uses a maker and taker fee structure to reward individuals with lower trading fees for providing liquidity to the exchange. The trading fees start from 0.3% for maker and takers and decreases with higher volumes over a 30 day period. Without taking into consideration the EXMO cashback bonuses for holding EXM tokens, the trading fees are high for small investors and traders and is similar to Coinfloor Exchange. 

Compared to popular exchanges such as Binance, KuCoin and Kraken, these platforms offer a default transaction fee between 0.1% and 0.26% and offer their own incentives, bonuses and rebates to reduce the fees. To reduce the EXMO trading fees to be similar to Binance for example, users need to purchase approximately 16.3 EXM tokens to gain the 33% fee discount (for limit orders only).

Volume (30 day)

Fee (Maker/Taker)

0 - $5,000

0.3% / 0.3%

$5,000 - $10,000

0.22% / 0.3%

$10,000 - $25,000

0.2% / 0.28%

$25,000 - $50,000

0.16% / 0.26%

$50,000 - $100,000

0.14% / 0.22%

$100,000 - $250,000

0.1% / 0.2%

Deposit and Withdrawal Fees

EXMO provides a range of deposit and withdrawal methods using fiat currencies. Individuals can deposit USD and EUR with no fees using Etana or a SEPA bank transfer. 

Crypto traders in the UK can use Faster Payments to transfer GBP to EXMO for a small fee of 3 GBP per deposit to the exchange. To use a credit card to buy crypto, there is a surcharge of 1.99% to 3.99% on the total amount plus a small fee.

Currency

Payment Method

Deposit Fee

Withdrawal Fee

USD

AdvCash

None

3.99%

USD

VISA & Mastercard

3.99% + 0.35 USD

N/A

USD

Etana Custody USD

None

N/A

USD

Payeer

2.49%

N/A

EUR

SEPA

None

1 EUR

EUR

VISA & Mastercard

2.99% + 0.3 EUR

N/A

EUR

Wire transfer

None

1 EUR

GBP

Faster Payments

3 GBP

0.15% + 3 GBP

GBP

VISA & Mastercard

1.99% + 0.3 GBP

N/A

GBP

CHAPS

20 GBP

0.15% + 20 GBP

Customer Support

EXMO claims to provide a 24/7 customer support service that is available worldwide and in 4 different languages (Russian, English, Ukrainian, and Turkish). The website lists direct email addresses to get in touch with support, however, there is no live chat bot which is a useful feature for users with urgent troubleshooting queries. Other methods to reach out to the team include their social media channels or submiting a ticket.

Mobile App

EXMO offers an excellent mobile app for its users that has received numerous positive reviews and has a 4.4-star rating on Google’s Play Store based on 1,735 votes. The trading app has an intuitive and easy-to-use interface for trading crypto on the move or monitoring active positions at anytime or place. The app has additional features such as quick order placing, transaction history, 7-day Profit and loss report, instant price alerts and more.

EXMO app

Frequently Asked Questions

Are US Traders Allowed To Use EXMO?

US investors and traders are prohibited from using EXMO due to strict financial regulations and laws in the United States. Individuals in the USA can only buy, trade and sell cryptocurrency using an exchange based in the United States.

Can You Use EXMO In Australia?

EXMO is supported in Australia however the exchange does not accept deposits in AUD. Individuals are better suited finding an Australian cryptocurrency exchange that supported local deposit methods and Australian Dollars.

Is EXMO Reliable?

EXMO has been incident-free since the exchange hack in 2020 that resulted in approximately 6% of its funds in hot wallets being stolen. The exchange is committed to becoming a reliable and trustworthy provider in the cryptocurrency space and has seen it's trading volumes surge in recent months. For the active crypto trader, EXMO is a good exchange to trade over 129 digital currencies with competitive trading fees that can be reduced by holding EXM tokens. 

Can You Leverage Trade Using EXMO?

Individuals on EXMO can spot trade over 192 cryptocurrency trading pairs, however, the exchange does not offer leveraged tokens, derivatives or a futures market to trade. Traders that want to potentially compound their gains will need to find a leveraged trading platform that offers crypto assets.

Does EXMO Offer Demo Trading?

A demo mode is not available on EXMO for new cryptocurrency traders to practice without risking any capital. It is recommended that beginner traders find a suitable demo trading platform before depositing real funds. Alternatively, users can deposit a small amount, however will need to be mindful of the deposit and trading fees.

Conclusion

To conclude our EXMO exchange review, the platform is well-suited and recommended for beginners and experienced traders and investors that want to diversify their crypto portfolio by adding popular altcoins. EXMO is a good exchange for crypto traders in the UK and Europe with several supported fiat currencies and deposit methods.

The overall trading experience is simple that will suit various skill levels that are looking to make a quick trade or analyze the charts in depth. EXMO has reasonable trading volume and liquidity across its supported trading pairs, however, in our opinion the trading fees are a little high for new users that do not participate in the EXMO Cashback program. 

You Might Also Be Interested In:

EXMO

3.9

Ease of use

4.0/5

Reputation

4.0/5

Trading fees

4.0/5

Security

3.5/5

Customer support

4.0/5

Pros

  • Accepts most popular payment methods to fund account
  • Supports USD, EUR, GBP, RUB, PLN, UAH and KZT
  • Fully customisable trading user interface
  • Customer support offered in multiple languages
  • Responsive and simple to use mobile app

Cons

  • Limited number of cryptos compared to larger exchanges
  • Trading fees by default are a little high
  • No margin or derivatives trading products
Default image
Kevin Groves
Kevin is the founder of hedgewithcrypto and is passionate about blockchain technology. He has been involved with Bitcoin since 2016 and is a swing trader with over 10 years of experience. He loves trading crypto using various platforms and helping others learn about cryptocurrencies via hedgewithcrypto.