Review – Numerous Scam Allegations Ringing The Bell Review – Numerous Scam Allegations Ringing The Bell

The company looks quite anonymous when it comes to legal information. The ownership of the brand, founders, and addresses are unknown. But it’s not surprising once you see what communication channels the company is using.

In any case, is a non-custodial decentralized exchange built on the Ethereum network. This should make them far more secure than any other exchange. Yet, there are many traders reporting issues with this firm. To find out more about it, read this review carefully.

Regulated By: No Regulations
Is This Company Safe? No
Known Websites:;
Have Warnings From: N/A
Registered In: Panama
Operating Since: 2018
Trading Platforms: Web based
Maximum Leverage: 1:20
Minimum Deposit: N/A
Deposit Bonus: Not available
Trading Assets: Cryptos
Free Demo Account: Not Available
How To  Withdraw From This Company? With non-transparent withdrawal options and policies, traders can expect a wide range of problems along the way.  If you experience any, contact our refund specialists for free first consultation.

Legal Info: Is Legit?

Generally speaking, they should be legit, especially due to high-security standards. Yet, one thing can diminish the value of the company quite easily. That’s missing regulatory oversight. Since the company presents itself with headquarters in Panama and San Francisco, the first regulatory database we are checking is the CFTC. Yet, the results were not found.

The research was not successful for any other top-tier regulatory database, such as IIROC, FCA, or ASIC. Therefore, it’s not surprising there are so many negative reviews.

Who Are’s Clients?

It’s quite unclear when this company was founded. Some say in 2012, the company’s LinkedIn account shows 2016, and their domain was registered in 2018. All in all, plenty of time to build or ruin credibility. 

For the time being, this firm was mainly offering services to traders from: 

  • United States
  • France

Since most clients complain about stolen money, make sure to understand how it works first. For instance, this company is asking customers to connect their wallets. But the moment clients send crypto, the money is gone unless you contact our refund specialists to track it down with CipherTrace.

Traders Reviews

Currently, 100% of the reviews on the Trustpilot platform have 1-star ratings. Traders were experiencing a wide range of issues. Firstly, they were depositing money in non-existent liquidity pools that vanished, they had frozen accounts and extreme losses due to leverage.

All in all, not something you want to see about the company.  If you have had a similar experience, feel free to share it with us. Ultimately, our team can advise you about the refund procedure.

Leverage, Commissions, Spreads, Fees and Taxes

In general, the company’s fees are quite acceptable. Makers can expect fees of 0.1% and takers 0.2%. Apparently, there are no deposit and withdrawal fees. 

Also, there’s a discount on fees if you are staking IDEX tokens. A quite smart move from the company to make traders deposit directly in their pockets.


As can be seen, the exchange is not offering any welcome bonuses. At least not transparently. In any case, their legal documents are not transparent. So, if there are any bonus deals, conditions will be unknown to the public. Trading Features

All the features of the crypto exchange can be questionable after this review. The whole idea of this firm is to make investors either stake or farm IDEX tokens. In the end, all that money ends up in the company’s pockets.

Trading Platforms Available

Generally speaking, the company’s platform looks quite average. With charting and technical tools imported from TradingView and very basic trading features, it’s a shame to compare them to any other firm. 

On top of that, it’s a web-based platform. But to see why that might be an issue, read our Magna FX review.

Available Trading Assets

In addition to the average platform, traders can also expect the average instruments offered. In fact, there are only 26 crypto pairs listed on the platform. Those are: 

  • QI – USDC
  • SYN – ETH
  • MANA – ETH and a few more.

Account Types

With some exchanges, clients can get some benefits if they invest more. This works perfectly with this company as well. 

For instance, you get a 50% discount on fees for holding IDEX tokens. Unfortunately, there are no other classifications or benefits for users.

Mobile Trading App

One of the biggest disadvantages is that the company doesn’t offer trusted mobile apps. These are the keys in the trading world nowadays, especially in crypto. 

Still, don’t get tricked into thinking the company is legit only if they offer good software options. A great example of that can be found in our Sapphire Markets review.

Demo Account

Demo accounts should be a standard feature for all companies offering leveraged trading primarily because high leverage and crypto volatility don’t go hand in hand. Yet, with company, such a testing option is not available.


Another thing worth noting is that the firm does not offer any educational programs. On the other hand, that’s logical since they want their customers to be as uninformed as possible. Otherwise, they wouldn’t be investing with them. Withdrawal

According to the company, all deposits and withdrawals are made with crypto. That’s quite scary knowing that regulation is missing. 

Even though they are lying about many things, it shouldn’t surprise us if there are no withdrawal fees. After all, all the money stays in their pockets. So it’s not hard to connect that.

Customer Support

Instead of phone lines and e-mail, this company offers other contact solutions, such as Telegram, Discord, and live chat. This tells you they are hiding behind the keyboard the whole time. 

Also, the support staff’s working hours are unknown. Therefore, it remains a question if you will get adequate assistance. Some reviews may show you the truth.

Key Information To Consider About

The first thing to watch out for is the 100% negative reviews about the firm. This tells you everything about the company’s activities. In addition to that, the company does not offer trusted and licensed services.

Overall, there are far better possibilities in the crypto world than this company. Still, traders can fall for tricks, and it’s not a shame if it’s the first time. For the second time, you’ll have to wonder. Anyways, if any company is holding your crypto, feel free to contact our refund specialists for advice.

FAQ Section

What is Idex?

Idex is a decentralized crypto exchange offering its services as a non-custodial exchange built on the Ethereum platform.

Is Idex Legit?

No. Numerous negative reviews point out all the problems traders can face with this exchange. Primarily withdrawal-related.

What is CipherTrace?

A tool that helps institutions prevent money laundering and illegal activities. But also, helps us track stolen crypto. To find your crypto, contact our team today.


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