GOPAX Review – High-End Features, Pros and Cons Revealed
Already 6 years into the business, GOPAX operates under the ownership of Streami Inc. With headquarters in Korea but also offices in Hong Kong and the US, they should present reliability.
There were a lot of ups and downs with this firm. Therefore, to find out if this is the right place for your investments, read our GOPAX review carefully.
|Regulated By:||FSC South Korea|
|Is This Company Safe?||Possibly not|
|Have Warnings From:||N/A|
|Registered In:||South Korea|
|Trading Platforms:||Proprietary app|
|Free Demo Account:||Not available|
|How To Withdraw From This Company?||Even though they are licensed, the company already suffered from withdrawal problems in 2021. Generally, it should operate fine at the moment, but if you experience any issues our refund experts are available for consultation.|
Legal Info: Is GOPAX Legit?
Surprisingly, GOPAX exchange is one of the rare ones that know how to run a crypto business. At least legally. The company is indeed licensed by the FSC of Korea with a number 432-87-00120. However, they were on the verge of a disaster in 2021.
According to reports, the exchange was stopping all withdrawals due to subsidiary bankruptcy. Luckily, their owners are one of the biggest creditors in South Korea. Even though the company is a good choice for Koreans, many other countries have far better solutions.
Who Are GOPAX’s Clients?
Since 2017 when the company started, it has been operating worldwide. Mainly with customers from:
- South Korea
- United States
With their business available everywhere, it’s no wonder that Binance wanted to merge with them. Yet, after problems with the SEC, GOPAX backed out of the deal. Therefore, you can see that even the biggest exchanges could have issues.
In any case, we encourage you to share your opinion about the GOPAX exchange. But also to contact us in case you experience any potential withdrawal issues.
Investment Costs With GOPAX
In general, trader and maker fees are quite standard sitting at 0.2%. However, their Trader Program brings you far more favorable conditions. In fact, from -0.01% to 0.02% for makers. But also, 0.02% – 0.05% for takers.
Generally, quite an attractive offer. yet, the conditions are not specified for them. But if you are an institutional investor, market maker, system trader or someone who actively trades at gopax.co.kr you can get it.
GOPAX Trading Features
Important to note is that GOPAX login and other website features can be quite buggy. In any case, this crypto exchange accepts USDC and KRW as the main depositing currency.
Besides high trading volumes and a potential partnership with Binance, there’s nothing spectacularon offer. To recognize the right investment opportunity, we suggest you read our GfxRoyal review.
Trading Platforms Available
Since GOPAX Korea is one of the leading domestic investment solutions, you would expect them to have extraordinary software. Yet, desktop users will have to do everything on a web-based platform.
Luckily, the company has 2FA protection, multi-layered security systems and 24h withdrawal surveillance. Therefore, your account should be safe.
Available Trading Assets
Trading instruments are your last worry if the company is not legit. With a wide range of crypto assets, but also USDC and KRW, you can make quite a positive experience out of this.
Yet, with limitations to crypto, you can’t expand your portfolio properly. Anyway, some of the most popular options are:
Practically, the company only offers a Trader Program for better trading conditions. However, detailed requirements are not available. But if you are more interested in an affiliate program, you have 3 different levels of rewards.
Mobile Trading App
On the positive side, this exchange has mobile apps developed for iOS and Android devices. They only have a bit over 100K users on PlayStore, which is not something that represents a highly reliable company. Especially if you compare it to Binance which has more than 50M users on PlayStore.
Important to note is that the company doesn’t have free platform access. Not to mention access to virtual credit that can help you test their trading features. Even though it’s not mandatory with crypto exchanges, it would be a nice touch. Luckily, there is our JAFX review to clarify the importance of it.
This company allows investors to join their GOPAX Academy. It mainly offers crypto-related education. Generally, something that would give you more downsides than benefits. Especially knowing there are tools that can help you in all investment fields. Not just crypto.
Since T&Cs and withdrawal policy are unaccessible this might cause potential issues. Unfortunately, processing time and fees are not revealed by the company. But with their domestic regulation and none of Tier 1, you can’t expect a smooth withdrawal procedure.
As can be seen, the company’s support is not something to brag about. They only provide clients with an e-mail and live chat contact option. On the positive side, the company states to be available 24/7. But if you compare them with some more reliable companies, you will see there are far better choices.
Key Information To Consider About GOPAX?
Even though they appear to be in the top 5 exchanges in Korea, that’s not a sign to follow. Instead, you should opt for more transparent and reliable companies. Especially if you are coming from the US or the UK. In any case, the company has too many flaws for a licensed firm.
Not to mention a lack of any user-experience reviews. Anyway, considering the company’s history you can feel free to contact us for any advice. Especially withdrawal-related ones.
What Is GOPAX?
GOPAX is a South Korean crypto exchange operating since 2017 with offices available worldwide.
Is GOPAX Legit?
The company is licensed if matters. But that doesn’t make them legit since they already had withdrawal issues earlier. If you have any, feel free to contact us for assistance.
How much does GOPAX charge for withdrawal?
Withdrawal fees are unfortunately not revealed by the company. Therefore, you can never be sure what to expect. If there is anything wrong, contact our chargeback experts immediately.