FINEXBOX

Exchange #152
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About FINEXBOX

FINEXBOX was a centralized cryptocurrency exchange launched in October 2018, with operations based in Hong Kong and Seychelles, and offices in Singapore. It positioned itself as a full-featured spot trading platform.

Key Aspects (Historically):

  • Launch: October 2018.
  • Headquarters: Hong Kong (registered in Seychelles).
  • Features: Offered spot trading, leveraged margin trading (up to 3.3x), and various order types.
  • Cryptocurrency Selection: Listed a wide range of cryptocurrencies and trading pairs.
  • Low KYC: Historically required minimal KYC verification (email and phone number only), appealing to users prioritizing privacy.
  • Fees: Advertised a flat trading fee of 0.10%, which was competitive, and free deposits.

Current Status and Concerns:

  • Lack of Regulation: A significant concern is that FINEXBOX does not appear to be regulated by any government authority at this time, as per various analyses. Its registration in Seychelles offers limited oversight.
  • Uncertain Operational Status: While some data aggregators still show some reported trading volume (though often with low confidence scores or low organic web traffic), there's a general lack of transparency and recent updates from the exchange itself.
  • Website Functionality: Reports and observations suggest the official website may be inconsistent in its functionality or leads to generic landing pages, further suggesting it's no longer actively operating as an exchange.
  • User Reviews: Historical user reviews often cite issues with customer support and concerns about the platform's reliability.
  • Security Rating: Some security analysis platforms have given FINEXBOX a low security rating (e.g., "D" with a low security score). There are no reports of major hacks for FINEXBOX, but the overall lack of transparency and regulatory backing raises security concerns.

Summary:

FINEXBOX was a cryptocurrency exchange that emerged in 2018 with a focus on comprehensive spot and margin trading. However, its current operational status is highly questionable, marked by a lack of regulatory oversight, inconsistent website presence, and a low trust score from various crypto analytics platforms. While it claims no major hacks, the absence of strong regulation and transparency means it is not a recommended platform for current cryptocurrency trading. Users are advised to avoid it and opt for well-regulated and transparent exchanges.