Huobi Review: Exchange Features, Security & Fees

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

One of the largest digital currency exchanges in the world for trading Bitcoin and Ethereum is Huobi Global, or otherwise just known as Huobi.

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

Key  Features:

  • 3rd largest crypto exchange in the world based on trading volume
  • Supports 348 cryptocurrencies with more than 927 trading pairs
  • Advanced trading platform with TradingView charts and tools
  • Competitive 0.2% trading fees
  • OTC trading for institutions
  • Huobi Pool to earn coins by lock-in, voting and mining
  • Reserve of 20,000 BTC for extreme security incidents and breaches

overall 

4.55/5

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 top Bitcoin hardware wallets.

What Is Huobi?

Huobi is a popular crypto trading exchange based in Seychelles that was originally founded in China in 2013. The company behind the exchange has grown dramatically with offices located in Hong Kong, South Korea, Japan and the United States. In 2018, the company became publicly listed in Hong Kong.

Huobi Global has been providing a safe and trustworthy place to buy, trade, store, earn and sell 348 digital currencies. The exchange services tens of millions of users in more than 195 countries worldwide with over 60 payment methods for convert fiat into crypto.

Huobi website

Huobi At A Glance

Exchange Name

Huobi Global

Fiat Currency

57 (EUR, USD, GBP, AUD, RUB, UAH, KZT & 50 others)

Cryptocurrency

348+

Payment Type

AdvCash, Cryptocurrency, SWIFT, Wire transfer, credit card & others

Trading Fee

Maker 0.2%; Taker 0.2%

Deposit Fee

Varies per country and deposit method

Withdrawal Fee

None

Mobile App

Yes

Huobi Compared

Advanced features, an intuitive user interface and a mobile trading app are important features on Huobi and Huobi Pro. This comparison table lists alternate cryptocurrency trading exchanges like Huobi that offer world-class features.

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 Huobi Exchange Safe?

Large digital currency exchanges like Huobi Global serves millions of customers worldwide are attractive targets for hackers. Huobi features multiple bank-like security measures such as cold wallet storage, SMS and email notifications with account 2FA to ensure a reliable and safe trading environment. Unlike other crypto exchanges that have been hacked, Huobi has never been successfully compromised that resulted in a loss of funds or its user's personal information. 

Are US Investors Allowed?

According to Huobi's User Agreement, individuals that reside in the United States of America are prohibited from using the exchange's services and trading platform. Huobi.US (HBUS) was a strategic partner to Huobi Global that allowed US investors, however, this service was closed down in 2019 amid regulatory concerns. 

There are reports Huobi may be re-entering the US market in 2021 and has had a trust license approved by the Nevada Financial Institutions Division for its wholly-owned subsidiary, the Huobi Trust Company. This would allow Huobi to operate as a cryptocurrency exchange in the United States and provide regulated financial products and services.

What Features Does Huobi Offer?

Supported Fiat Currencies

Huobi provides an all-in-one digital currency platform that starts with a fiat-to-crypto onramp for investors located worldwide to begin their cryptocurrency journey. The exchange supports 57 fiat currencies to fund an account such as USD, EUR, GBP, AUD, CNY and many others. Each fiat currency can be deposited to Huobi using several payment methods which vary in each country. In total, there are currently 60 payment options such as international wires, bank transfers, WeChat, AliPay and using a credit/debit card to buy crypto.

huobi deposit funds

Spot, Margin, Futures & Derivatives Markets

Huobi offers a variety of cryptocurrency markets that can be traded using the same user account. Individuals can speculate on digital currencies using the Spot Exchange, Margin Exchange, Futures Market, Options and USDT-Swaps with leverage up to 125x. The emergence of leverage crypto trading allows customers to hedge spot their positions by short-selling Bitcoin to balance a crypto portfolio and exposure to market conditions.

Competitive Trading Fees

Using an exchange with cheap trading fees is an important consideration before trading cryptocurrencies. Huobi Global offers one of the cheapest rates for buy and sell orders that starts from 0.2% per trade that can be further reduced by holding HT tokens. The fees are slightly lower compared to other global exchanges such as Gemini and Coinbase which range between 0.25% and 0.5% per trade.

Exchange

Trading Fee

Token Discounts

Huobi

0.2%

Yes

Gemini

0.5%

No

Coinbase

0.5%

No

Huobi Earn

Huobi has introduced a new feature called Huobi Earn which offers flexible and fixed lock-up terms to earn interest on coins and tokens in a Huobi wallet. Customers can choose to deposit funds to earn interest that is compounded daily on the most popular cryptocurrencies and DeFi tokens. For example, deposit USDT to earn approximately 6.6% APY with a flexible term of up to 8% locked in for 90 days. 

huobi earn

Accepted Countries

Huobi Global is available to cryptocurrency investors and traders in over 190 countries worldwide. According to Huobi's User Agreement, residents in the USA, Canada, Japan, Iran, North Korea and Crimea are prohibited from using the exchange. This is due to strict regulations that govern the provision of financial products and services.

The exchange has recently been restricting access to certain countries from trading Futures and derivatives in response to China's crackdown on crypto. According to a report, anyone from mainland China, Taiwan, Israel, Iraq, Bangladesh, Bolivia, Ecuador, Kyrgyzstan, Sevastopol and retail investors in the U.K can no longer trade these products. Investors in the UK and USA will need to find an alternate crypto exchange in the United Kingdom and the United States.

Is Huobi Free?

There is no cost involved to create a new account with Huobi or maintain a Huobi wallet. There are some fees involved to use a Huobi account such as depositing money to the exchange, buying and selling, trading between assets and withdrawing to an external wallet. These fees are common for a centralized exchange to cover the companies expenses for providing the infrastructure to create a safe trading environment.

To create an account with Huobi, the process takes a few minutes. Users will be required to provide an email address and password. To access higher withdrawal limits, traders must verify their identity. Individuals that prefer not to provide their personal information and wish to remain anonymous can use an instant crypto swap platform that does not require KYC.

Huobi Verification

Individuals that want to buy or sell crypto using fiat currencies such as USD, EUR or KRW must complete a Know Your Customer (KYC) stage. Huobi verification takes approximately 10 minutes to complete once a Government-backed ID document has been uploaded and a photograph has been scanned. The documents are uploaded using a safe and secure portal which are manually reviewed by the Huobi team. During high traffic periods, the verification process can take  up to 7 days to complete.   

Funding & Limits

Huobi supports 57 local currencies and 60 payment methods to fund an account to access the features and services on the platform. Depending on the country, the user will be presented with the available deposit options to transfer fiat currency to the exchange. Common deposit options that are supported include bank transfer, Faster Payment, AdvCash, credit and debit cards, wire transfer and SWIFT. 

huobi deposit EUR

For example, Euros can be deposited to Huobi using a SEPA bank transfer of up to 10,000 EUR per month and 100,000 EUR per year with Level 2 verification. There are no deposit fees to use a bank transfer, however, there is currently no option to withdraw Euros or Pounds to a bank account which is a negative. USD deposits have also recently been suspended on the exchange.

Currency

Deposit Method

Deposit Limit

Withdrawal Limit

EUR

SEPA Bank Transfer

10,000 EUR per month

Not available

GBP

Faster Payments

10,000 GBP per month

Not available

RUB

AdvCash / Credit Card

10,000,000 RUB per month

500,000 RUB per month

UAH

AdvCash

7,500,000 UAH per month

750,000 UAH per month

KZT

AdvCash

50,000,000 KZT per month

5,000,000 KZT per month

Supported Coins

Huobi supports over 364 cryptocurrencies on its trading platform that includes the top coins such as Bitcoin, Ethereum, Litecoin and XRP. The exchange is regularly adding new coins in emerging blockchain industries such as decentralized finance and meme tokens which have gained widespread popularity in recent months. The selection of coins on Huobi is comparable to Binance and KuCoin which offer a similar number of digital currencies to buy, trade and sell.

huobi supported coins

The coins are paired against USDT, HUSD, BTC, ETH, HT and selected altcoins to provide more than 927 different markets to search and find trading opportunities. The marketplace provides a complete list of the supported trading pairs with a 'top gainers' column which is useful to find trading pairs with high volume over the last 24 hour period.

Volume & Liquidity

Huobi Global is currently the 3rd largest cryptocurrency exchange in the world by traffic, liquidity, trading volumes, and confidence in the legitimacy of trading volumes reported. At the time of writing, Huobi processes nearly $15 Billion in daily transaction volume, with BTC/USD and ETH/USD making up nearly 20% of all transaction volume on the exchange.

huobi trading volume

The BTC/USD trading pair on Huobi has a liquidity score of 833 based on the slippage incurred by various order sizes. This is one of the higher scores for Bitcoin trading and is reflective of a very liquid market. This means traders with size can buy and sell Bitcoin with minimal slippage in price. The depth of trading volume and liquidity in Huobi's BTC/USD and ETH/USD order books are excellent and are suitable for high net-worth individuals, institutions and retail traders.

Trading With Huobi

Selecting a cryptocurrency platform depends on the trading interface for many investors and traders. This is where the majority of time will be spent analyzing the charts and looking for trading opportunities. 

User Interface

The user interface on Huobi to well laid out, responsive on all devices and visually appealing. On the top menu, there are quick drop-down menus to access all of the Huobi features and services. The charts and order windows are located in the middle with the order book on the right. Clicking on a price will auto-fill limit orders. Changing trading pairs or logging out of Huobi does not remove any drawing tools or patterns overlaid on the chart. Therefore, chart analysis remains on the chart until removed by the trader.

There is also the option to toggle between light and dark mode and add charts to a favorites list. Overall, we could not fault much with the trading experience and stacks up well in comparison to other altcoin trading platforms.

huobi trading interface

Indicators & Drawing Tools

Huobi offers two user interfaces for its users to choose from. The default charting window is developed by Huobi and is simple to view the charts for each pair. However, users can switch to TradingView charts which are renowned for providing excellent trading tools and charting features for crypto. There is a wide range of time frames and tools to draw trend lines, add indicators and chart patterns to perfectly time a trade. Examples of indicators that can be applied include:

  • Simple Moving Averages
  • Relative Strength Index (RSI)
  • Ichimoku
  • Bollinger Bands
  • Average True Range
  • MACD
  • Volume, Stochastics; and others.

Placing Orders

The order window provides a variety of orders such as limit, market, stop-limit and trigger orders. The latter is unique to Huobi which allows a person to place an order in the market at a pre-set price and quantity which will execute when a trigger price is reached. The order essentially combines both a market and limit order and can be used as a stop-loss order to protect capital. This feature is available on very few exchanges, however, it is important to note it is not a guaranteed stop order.

huobi orders

The order book window on the right of the screen is intuitive and can be used to auto-fill the price to avoid mistakes in typing in the incorrect price or decimal place. The trade amount can be quickly populated using the auto-fill options (e.g. 25%, 50% or 75%). At the top of the order window is a tooltip for the fees. This is a great way to check the maker and takers fees are correct based on the volume amount or discounts for holding HT tokens.

Futures Trading

Huobi has a futures derivatives platform which is currently the 4th largest derivatives trading platform in terms of volumes behind BinanceOKEX and Bybit. Using the futures market on Huobi is an excellent way to short sell Bitcoin and other coins as a risk management tool that can be accessed within a single Huobi Global trading account. An individual can place orders on the futures market to maximize returns, reduce the impact of price fluctuations in the spot market, lock in profits and losses and provide a steady trading income by hedging their crypto portfolio.

huobi futures vs spot

Trading Futures, USD Coin Swaps and DeFi derivatives are available on the desktop, tablet and mobile devices which can be accessed from any location with an internet connection. The user interface has the same appearance as the spot exchange which adds familiarity for existing Huobi customers. The crypto futures pairs can be traded with leverage up to 75x but is not recommended for beginner traders. There is also the added benefit of placing trailing orders to maximize potential gains. 

Huobi Fees

Huobi Global has a base trading fee of 0.20% for its spot markets which is based on the maker and taker model. Holding the Huobi Token (HT) to pay for transactions costs offer a fee discount which increases with the amount of HT holdings. For example, a person with more than 5,000HT within a Huobi wallet can get an effective 65% discount on spot trading fees. Overall, the spot trading fees on Huobi are competitive in the market but are slightly higher than BinanceOKCoin and KuCoin that start from 0.1% per transaction.

HT Holdings

Fee Discount

≥10HT

10%

≥100HT

20%

≥500HT

40%

≥1,000HT

55%

≥2,000HT

60%

≥5,000HT

65%

Huobi futures fees for USD and coin-margined pairs have a different transaction fee compared to Huobi's spot exchange. Buy and sell transactions will incur 0.02% for maker and 0.04% for taker orders. Holding HT tokens does not offer any fee discounts, however, a preferential rate could be granted by becoming a VIP client of Huobi by trading more than 25 million in a 30 day period. The fee schedules for futures and swap contracts can be found on the Huobi website.

Super Star VIP Program

Huobi has launched a Super Star VIP program for its customers to benefit from competitive rates for trading large volumes on the spot exchange. Reduced rates will apply for accounts that have a 30 day trading volume over 50 BTC across any crypto exchange. For example, individuals that have a 30 day volume between 20-50 BTC per month can apply for a discounted trading fee of 0.07% for maker and taker orders. The lowest trading fee under the Huobi Super Star Program is 0.0097% for maker and 0.0193% for takers.

huobi promotion

The Huobi VIP Program discounts includes a reduced rate of 0.03% for Huobi Loans for individuals. The Huobi promotion is between July 28, 2021 and Dec 31, 2021 (UTC). Individuals will need to submit an application with a screenshot of their trading volumes to qualify for the  Huobi Fee Promotion.

Volume (30 Day)

Reduced Fees

Duration

20 - 50 BTC

0.0700% / 0.0700%

2 months

50 - 100 BTC

0.0467% / 0.0513%

2 months

100 - 300 BTC

0.0398% / 0.0475%

2 months

Grid Trading Bot

Huobi has introduced trading bots to automate trading on the spot exchange. The Grid Trading feature is an automated bot that places orders within a defined rectangle or range. Buy orders can be placed at the lower boundary of the range that will automatically sell once the price reaches a defined point within the top of the grid. Based on the current backtest data, the Huobi grid trading bot has a 7-day annual yield of 29.47%, although past performance does not indicate future performance.

To begin using the bot, traders will need to first complete a knowledge test which should not be an issue for advanced users. The selection of trading bots available to Huobi is limited to the Grid Trading bot only. Individuals that are looking to automate advanced crypto strategies such as arbitrage trading and based on technical indicators will need to use alternative platforms. 

Examples of exchange that offer a wide range of bots include QuadencyWunderbit and Shrimpy that can be configured to automate strategies and connect to Huobi via API.

Crypto Loans From Huobi

Verified Huobi customers can collateralize crypto assets to obtain a loan in cash or digital currency that can be used to trade in the Spot exchange, Margin and Futures platform or withdrawn for spending. The supported coins that can be deposited and used as collateral include BTC, USDT, ETH, HUSD, HT, LTC, BCH, EOS, LINK, BSV, XRP, DOT and HPT. For example, a person can obtain a $10,000 USDT loan by depositing 0.39BTC as collateral. Based on a 90 loan period, the interest rate is calculated at 0.0345% daily or $310 USDT.

huobi crypto loans

Huobi loans have a fixed term of 30, 45 or 90 days with flexible repayment options available. There are no penalties or fees if early repayments are made, however, the interest amount will be paid off first before the capital borrowed. The interest rate is calculated based on hours of use and determined from the start date of the loan. Overdue interest payments after 7 days will be charged at 3 times the interest rate.

Huobi Staking

Huobi has a coin staking feature that allows its users to earn rewards for holding digital currencies within a Huobi wallet. For example, CSPR can be staked on Huobi Global to earn an estimated reward of 10% APY. Staking will suit crypto holders that are comfortable with locking in their coins for a set amount of time to accrue the staking benefits. Once the coins are staked, the Huobi wallet balance will be deducted and the coins will stake automatically in the pool to earn rewards. 

huobi staking

After staking coins with Huobi, the assets will be frozen in the Huobi account and cannot be traded which is a negative. Also, the number of supported Proof of Work (POW) coins is limited to CSPR at the time of writing. The number of supported coins is limited when compared to exchanges that offer crypto staking like Binance that offers over 37 cryptocurrencies such as CELR, TEZOS, SUSHI, ADA and ATOM for staking benefits.

Huobi Global ETH2.0 stake

Huobi also offers support for the Ethereum 2.0 network upgrade to a Proof-of-Stake (POS) consensus model. Users can deposit Ethereum to a fixed wallets to earn ETH 2.0 staking rewards. The rewards can only be redeemed once the Ethereum upgrade has been completed.

Huobi Mobile App

Huobi Global features a sleek and intuitive mobile trading app that can be download for iOS and Android compatible devices. The app can be used to create an account, complete ID verification, deposit and withdraw funds, place trades and monitor live positions. Huobi's trading app has an overall 3.8/5 star rating on the Android market place based on more than 10,000 reviews on TrustPilot.

However, there are several customer reviews of technical bugs with registration, KYC and log in using the Huobi app. Each comment has been responded to by a support member of the Huobi team and is a great example of good customer service.

huobi mobile app

Security of Assets

Huobi has proven to be one of the most secure platforms for cryptocurrency purchases and trading. The platform is a relatively safe place to temporarily store assets in the comfort the exchange has processed over 1 billion dollars without any security breaches. Huobi Global has implemented several safety measures to protect user's personal information and funds from external threats, internal error (e.g. human mistakes) and misuse of internal authority. 

Huobi has a strict protocol to separate users’ digital assets in cold and hot wallet. According to the website, 98% of cryptocurrencies are stored in offline multi-signature cold wallets. The exchange has implemented a Huobi Security Reserve with a total amount of 20,000 BTC. These funds are owned by Huobi are kept in different wallets to be used in the event of an unlikely exchange hack or incident. Overall, the level of protection features that have been factored in demonstrates a high degree of safety has been designed into the platform for its users to safely trade and hold crypto using the Huobi wallet.

Frequently Asked Questions

What Is The Huobi Token (HT)

The Huobi Token (HT) is the exchange-based token and native currency issued by Huobi Group. The token is based on the Ethereum network with a limited total supply of 500 Million. Huobi Token is the native currency of Huobi Global that is used to provide internal functionality and give incentives such as VIP access, trading fee discounts, rebates and voting rights for new coin listings.

huobi token stats

Does Huobi Have A Debit Card To Spend Crypto?

Huobi does not offer a Bitcoin or crypto debit card to let its customers use their crypto balance to perform in-store or online purchases. Investors that are looking to use a crypto exchange to buy, trade, sell and spend cryptocurrencies will need to use a platform like Crypto.comUphold or BlockFi.

Is Huobi Better Than Binance?

Huobi and Binance share several common features such as the number of cryptocurrencies, trading pairs, financial products and security measures. However, a key point of difference between the two exchanges is the trading fees. Binance offers marginally slightly cheaper transaction fees of 0.1% compared to 0.2% on Huobi. Overall, we recommend Binance as it offers a broader range of services that will suit everyday investors and traders that want to get started with crypto.

Is Huobi App Safe?

Huobi Global is a safe and secure exchange that has been operating for several years incident-free. Huobi features an anti-DDOS attack system, has 98% of funds stored in hot wallets and uses multi-signature wallets to ensure the safety of customer funds on the web and mobile app versions.

Is Huobi Regulated?

Huobi Global is a Seychelles-based cryptocurrency exchange that is currently licensed to legally operate in several countries including Japan, South Korea, Thailand, Gibraltar and other regions. Due to tighter regulatory controls worldwide, Huobi has committed to adopting a compliance-focused approach to serve its millions of users globally with safe, secure and regulated crypto trading framework. According to Elaine Sun, Compliance Director of Huobi Technology, "If regulatory compliance is the future of digital assets, we need all industry players to act in a compliant manner." For a full list of countries that have regulated Bitcoin trading and ownership, read this article.

Is Huobi Available In Canada?

Cryptocurrency traders in Canada are not permitted to use Huobi Global to buy, trade or sell digital currencies. This is due to strict regulations that prevent the company from providing any financial services and digital products to Canadian residents. Investors will need to use a Canadian cryptocurrency exchange that is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

Can You Use Huobi In Australia?

Huobi is available for residents in Australia to deposit AUD to buy crypto directly using a VISA/Mastercard, POLi, PayID or a local cash deposit at a newsagency. Funds can only be withdrawn as cryptocurrencies as there is currently no support to withdraw AUD to a local bank account. Investors that want to cash out will need to use a local Australian crypto exchange. Read our comparison article on the best crypto trading platforms in Australia.

Conclusion

To conclude our exchange review, Huobi has been a leading cryptocurrency exchange since 2013 that has excellent features and services, security, mobile app and competitive trading fees. The user interface, supported coins and variety of trading pairs will suit most altcoin traders. For the investor, there are plenty of financial products to maximize a portfolio such as borrowing and lending to earn crypto interest and staking for coin rewards.  

Overall, Huobi Global is a reliable and safe cryptocurrency platform for serious crypto traders. The depth of market liquidity across its trading pairs such as BTC/USD and ETH/USD is attractive for retail and professional traders. Packed with a wide range of services and products to buy, trade, sell, earn, store and stake, Huobi is the complete package for crypto enthusiasts.

You Might Also Be Interested In:

Huobi Global

4.55

Ease of use

4.5/5

Reputation

4.8/5

Trading fees

4.3/5

Security

4.8/5

Customer support

4.5/5

Pros

  • Supported in 190 countries and accepts 57 fiat currencies
  • 4th largest crypto exchange by trading volume and liquidity
  • 927 different trading pairs in one location
  • Advanced charting and trading interface with trigger orders
  • Derivatives, futures and option markets to hedge risk

Cons

  • US investors are not allowed
  • Limited number of coins that can be staked
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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.