GoBear is now part of Finder

IDEX cryptocurrency exchange review

Trade more than 250 Ethereum ERC20 tokens on a decentralised exchange.

Though the vast majority of crypto users still buy and sell coins on centralised platforms, decentralised exchanges are on the rise. IDEX is a decentralised exchange where users can buy and sell almost 300 different ERC20 tokens on the Ethereum network.

IDEX aims to provide a secure and user-friendly crypto trading experience. To find out whether it achieves those aims, read on for more details of the pros and cons of IDEX.

Details

Product Name IDEX Cryptocurrency Exchange
Fiat Currencies -
Cryptocurrencies EOS, RFR, CS, AUC, BEE, BANCA, CNN, EOSDAC, FSN, NBAI, TRAC, VET, XBP & 60+ more
Deposit Methods Cryptocurrency
Trading Fee Maker: 0.1%
Taker: 0.2%
Deposit Fees None
Withdrawal Fees None
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Which fiat and cryptocurrencies are supported?

  • Supported fiat currencies: None
  • Supported cryptocurrencies: Approximately 257 cryptocurrencies

Which payments methods are accepted?

  • Cryptocurrency

What is IDEX?

IDEX is a cryptocurrency exchange that aims to offer the user experience of a centralised exchange without compromising on any of the security benefits offered by decentralised platforms. It offers a peer-to-peer trading environment and uses smart contracts to communicate transactions to the Ethereum blockchain, allowing for the order book and your account balance to be updated in real time.

At the same time, platform users always retain control of their funds. IDEX cannot access your funds until you sign permission cryptographically for it to do so, and private keys are encrypted and then destroyed to provide increased security.

IDEX is part of Aurora, a banking and finance platform made up of a collection of Ethereum-based applications and protocols. Aurora is managed by Aurora Labs S.A., a company located in the Republic of Panama.

Available countries

A global exchange platform, IDEX offers its services to users all around the world.

Which payment methods are accepted?

IDEX offers crypto-to-crypto trading only, so the only way to deposit funds into your account is by cryptocurrency transfer. Fiat deposits are not accepted.

Compare IDEX against other exchanges

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Binance Cryptocurrency Exchange
Bank transfer (ACH)
USD, AUD, GBP, EUR, RUB, TRY, NGN, UAH, PHP, CZK & 20+ more

354
cryptocurrencies

Finder Exclusive: Get 10% discount on your fees when signing up through Finder.
Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

213
cryptocurrencies

Buy 200+ cryptocurrencies, earn up to 14.5% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Changelly Crypto-to-Crypto Exchange
Credit card, Cryptocurrency
USD, GBP, EUR, CAD, MXN, HKD, RUB, NZD, SGD, JPY & 40+ more

156
cryptocurrencies

Access competitive crypto-to-crypto exchange rates for 150+ cryptocurrencies on this global exchange.
KuCoin Cryptocurrency Exchange
Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

492
cryptocurrencies

Finder exclusive: Sign up and use code 1xf56 for one month of VIP 1 benefits. Deposit/transfer more than 0.1 BTC to KuCoin within 7 days of registration for 1 month of VIP 2 benefits. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Gemini Cryptocurrency Exchange
Bank transfer (ACH), Debit card, Wire transfer
USD, SGD, HKD, GBP, EUR, CAD, AUD, COP

95
cryptocurrencies

Get USD 25 in BTC when you trade USD 100 within 3 days of signing up. T&Cs apply.
Trade bitcoin, Ethereum and more at a US-based exchange where payments can be made in USD.
FTX Cryptocurrency Exchange
Credit card, Wire transfer, Silvergate Exchange Network (SEN), Signature SIGNET
USD,EUR,GBP,AUD,HKD,SGD,TRY,ZAR,CAD,CHF,BRL

240
cryptocurrencies

Sign up through Finder for a 5% discount on all trading fees. T&Cs apply.
FTX is an exchange built by traders for traders, with a range of derivatives markets such as options and futures with deep leverage, in addition to standard spot markets. Note: Not available for US customers.
eToro Cryptocurrency Trading
Bank transfer, Credit card, Debit card, Neteller, PayPal, Online banking, Skrill
EUR, GBP, NZD, USD, AUD, CAD, HKD, SGD, CHF, NOK & 5+ more

29
cryptocurrencies

Get a $10 bonus when you spend $100+ on cryptocurrencies. T&Cs apply.
Disclaimer: Volatile investment product. You should consider whether you can afford to take the high risk of losing your money.
Copy the trades of leading cryptocurrency investors on this unique social investment platform. $200 minimum deposit.
Coinmama Cryptocurrency Marketplace
Bank transfer, Credit card, Cryptocurrency, Debit card
USD, EUR, AUD, CAD, GBP, JPY

10
cryptocurrencies

Founded in 2013, CoinMama lets you buy and sell popular cryptos with a range of payment options and quick delivery.
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

946
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in GateTokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
Bitfinex Professional Trading Exchange
Credit card, Cryptocurrency, Bank Wire
USD, EUR, GBP, JPY

176
cryptocurrencies

Cryptocurrencies are a highly volatile investment product. Your capital is at risk.
Spot trade all of the major cryptos on this full-featured exchange and margin trading platform.
AAX Cryptocurrency Exchange
AAX Cryptocurrency Exchange
Alipay, Bank transfer, Cash, Neteller, PayPal, Qiwi, SWIFT, WeChat, Western Union, UPI, IMPS, Paytm, Faster Payments (FPS), PayNow, Swish, Payme
AUD, CAD, CNH, CHF, EUR, GBP, HKD, NZD, SGD, USD

110
cryptocurrencies

Get 50 USDT when you sign up through Finder, make USD 10k+ trades and deposit USD 500 worth of crypto. T&Cs apply.
Make fast transactions including spot, futures and P2P trading with this cryptocurrency exchange.
OKEx Cryptocurrency Exchange
Bank transfer, Cryptocurrency, iDEAL, PayPal, POLi, SEPA, Faster Payments (FPS)
USD, CNY, EUR, ARS, AUD, BGN, BRL, CAD, CHF, COP & 20+ more

292
cryptocurrencies

Promo: Earn US$10 in BTC when you refer a friend and they purchase $100 of cryptocurrency. T&Cs apply.
Listing over 100 cryptocurrencies, OKEx offers its users a variety of payment methods and coins to choose from.
Paybis Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Neteller, Skrill, Apple Pay
EUR, GBP, USD, AUD, CAD, PHP, SGD, CHF, HKD, JPY & 30+ more

32
cryptocurrencies

Buy Bitcoin and other popular cryptocurrencies with credit card or debit card on this digital cryptocurrency exchange.

US residents: Restricted in the following states - NY, CT, NM, WA, HI, AL, VT, FL, AK, NV.
Paxful P2P Cryptocurrency Marketplace
Bank transfer, Cash, Cryptocurrency, PayPal, Credit or Debit Card, Payoneer
DZD, XCD, ARS, AMD, AWG, AUD, AZN, BSD, BHD, BDT & 140+ more

3
cryptocurrencies

Connect with bitcoin buyers and sellers through this peer-to-peer marketplace that accepts cash, credit and more than 300 other payment methods.
CEX.IO Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, SWIFT, SEPA, Faster Payments (FPS)
USD, EUR, GBP, RUB

22
cryptocurrencies

Disclaimer: Highly volatile investment product. Your capital is at risk.
Use your USD, EUR or RUB to buy and sell cryptocurrency at competitive exchange rates and with high maximums for verified accounts.
Bittrex Global
Bank transfer, Credit card, Cryptocurrency, Debit card
USD

283
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
Coinbase Digital Currency Exchange
Bank transfer (ACH), Credit card, Debit card, PayPal, Bank transfer (SEPA)
USD, EUR, GBP, CAD, MXN, HRK, CZK, DKK, CLP, BGN & 10+ more

81
cryptocurrencies

Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.
StormGain Cryptocurrency Exchange
StormGain Cryptocurrency Exchange
Cryptocurrency
USD, EUR, AUD, CHF, CZK, DKK, GBP, HUF & 5+ more

23
cryptocurrencies

Stormgain aims to make cryptocurrency trading easy, and also lets you buy crypto with fiat via Simplex.

UK residents: In addition to normal crypto trading, Stormgain offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service.
Liquid Cryptocurrency Exchange & Margin Trading
Bank transfer, SEPA
USD, JPY, EUR, SGD, AUD, HKD

127
cryptocurrencies

Promo: Get 10% off your trading fees. T&Cs apply.
Disclaimer: Highly volatile investment product. Your capital is at risk.
Liquid is a unified, globally-sourced trading platform that bridges the worlds of fiat and crypto.
Coins.ph Bitcoin App
Bank transfer, Cash, CLIQQ Kiosk, DragonPay
PHP

1
cryptocurrency

Buy bitcoin via a service based in the Philippines with no bank account needed.
loading

Compare up to 4 providers

How much will it cost me to use IDEX?

There are no deposit or withdrawal fees on IDEX, but you will need to pay trading fees:

  • 0.2% for market takers
  • 0.1% for market makers

You should also be aware that market takers are responsible for covering the Ethereum gas fees for each trade.

Are there any transfer limits?

IDEX imposes a minimum order limit of 0.15 ETH for market makers, and 0.05 ETH (equivalent) for takers. In order to cover gas fees, a minimum withdrawal limit of 0.04 ETH applies for all tokens.

Is it safe to use IDEX?

As a decentralised exchange, IDEX offers some key security advantages over centralised platforms. It runs as a node on the Ethereum network, which means it offers all the security benefits that blockchains provide.

There’s no central point of failure which hackers can target, and IDEX doesn’t control user funds. Instead, any funds you deposit are held in smart contracts on the Ethereum blockchain, and are only transferred when you use your private key to sign a transaction.

When you unlock your wallet, your private key is encrypted in browser memory and can only be accessed inside the IDEX app. Private keys are never transmitted outside the device, and when you sign out the private key is destroyed from memory.

For further peace of mind, IDEX features Ledger Nano S hardware and MetaMask web wallet integration.

Customer support

If you need help with any basic operations on IDEX, such as unlocking a wallet or buying tokens, you can take a look through a host of step-by-step guides online. There’s also a thorough FAQ page, a “Contact Us” email form and online support via Telegram.

Pros and cons

Pros
  • Provides access to an extensive range of tokens
  • Interface is reasonably user-friendly (for a decentralised exchange)
  • Offers a number of security features and benefits
  • Ledger Nano S and MetaMask integration
  • Also offers a rewards program that allows makers and takers to earn AURA, the Aurora utility token
Cons
  • ERC20 tokens only, so you can’t trade bitcoin and a host of other popular currencies
  • Platform not particularly suited to beginners
  • Fiat currency trading not supported

Next steps

Before registering with any exchange, compare a variety of platforms to decide which one is the best fit for your trading needs.

To get started, you’ll then need to:

  1. Unlock your Ethereum wallet
  2. Deposit any tokens you want to trade
  3. Start trading
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Privacy Policy.
Go to site