Starting any new journey requires proper research, and choosing the right cryptocurrency exchange is no exception. In this WEEX review, we will explore what the exchange has to offer, diving into an exchange that has captured attention with its unique approach, particularly its commitment to supporting the Terra LUNA ecosystem through innovative token burn initiatives. We’ll look into the platform’s features, trading tools, and its key offerings like products, fees, and security measures, helping you decide if it’s the right choice for your digital trading activities.
| Stats | WEEX |
|---|---|
| 🚀 Founded | 2017 |
| 🌐 Headquarters | Singapore |
| 🔎 Founder | Ricardo Suarez |
| 👤 Active Users | 5M+ |
| 🪙 Spot Cryptos | 603+ |
| 🪙 Futures Contracts | 478+ |
| 🔁 Spot Fees (maker/taker) | 0.10%/0.10% |
| 🔁 Futures Fees (maker/taker) | 0.02%/0.08% |
| 📈 Max Leverage | 200X |
| 🕵️ KYC Verification | Not Required |
| 📱 Mobile App | Yes |
| ⭐ Rating | 4/5 |
| 💰 Bonus | $20,000 (Claim Now) |
WEEX Overview
Founded in 2017 by Ricardo Suarez and based in Singapore, WEEX is a cryptocurrency exchange catering to over 5 million users. It provides spot trading with 603+ pairs and futures trading with 478+ pairs, featuring leverage of up to 200x for derivatives traders. Spot trading comes with a straightforward fee structure of 0.1% for both makers and takers, while Futures trading operates under a separate fee structure, with rates of 0.02% for makers and 0.08% for takers, catering to high-volume traders.
One of WEEX’s defining features is its LUNC Burn initiative, aimed at supporting the Terra Classic (LUNC) ecosystem. By allocating 15% of trading fees, WEEX contributes directly to reducing LUNC’s supply and assisting in its recovery efforts. This initiative reflects the platform’s alignment with community-driven goals and its effort to engage with broader crypto causes.
Beyond trading, WEEX introduces the WE-Launch Zone, a platform that hosts weekly airdrops and offers you access to emerging project launches. These opportunities cater to traders looking for additional ways to engage with the crypto space.
WEEX also emphasizes user engagement by collaborating with football legend Michael Owen, aiming to attract a wider audience to its trading platform. Security measures include two-factor authentication, but the platform’s rating in this area is moderate, which may be a consideration for cautious users.
As we dive deeper into this WEEX Review, we’ll explore more about their product offerings and how they could benefit you if you choose WEEX as your cryptocurrency exchange.
WEEX Pros and Cons
| 👍 WEEX Pros | 👎 WEEX Cons |
|---|---|
| ✅ Wide Range of Cryptocurrencies | ❌ No fiat currency deposit or withdrawal options |
| ✅ High leverage up to 200x | ❌ OTC trading is for Chinese users only |
| ✅ No mandatory KYC | ❌ WXT token offers limited benefits |
| ✅ 1,000 BTC protection fund for additional security | |
| ✅ Free internal transfers between WEEX accounts |
WEEX KYC and Sign-up
KYC is not mandatory on WEEX, giving you the freedom to trade, deposit, and withdraw without needing identity verification. However, completing the KYC process provides access to additional features, such as higher withdrawal limits. To get started, visit the WEEX website and click on Sign Up. Enter a valid email or phone number, create a secure password, and verify your account using the code sent to your inbox.
For those looking for complete platform access, the KYC process is straightforward. Simply upload your personal details along with a government-issued ID. Once verified, you’ll have access to all the platform’s features, making it easier to deposit funds and utilize WEEX’s trading tools.
If you ever decide to leave WEEX, you can withdraw your funds and delete your account hassle-free.
Before signing up, ensure that your country is not restricted by WEEX due to regulatory challenges to save time.
🌍 Free WEEX Country Checker
We strive to keep this information up-to-date, but regulations may change. While we regularly update this data, we make no guarantees, and it is your responsibility to verify whether your country is supported before using the platform.
Due to regulations, WEEX does not support every country. To ensure that you are eligible to register on the exchange, you can use our free WEEX country checker.
Simply type in your country and see if you can use the platform or if your country is restricted.
WEEX Trading
Currently, WEEX allows users to trade on both spot and futures markets. Let’s take a closer look at both platforms to understand what they offer, what to expect, and identify any shortcomings that may exist.
Spot Trading
WEEX offers spot trading with over 630+ cryptocurrencies, including USDT and USDC pairs. The platform charges a flat fee of 0.1% for both makers and takers, making it a straightforward choice for casual traders.
The trading tools are quite basic, featuring simple charts and standard indicators. However, the interface leans towards an older design, which might feel less intuitive compared to the modern layouts seen on other top exchanges.
As for order types, WEEX supports basic options along with some advanced ones to help traders maintain better control over their trades. These include Good-Till-Cancelled (GTC), Post Only, Immediate-Or-Cancel (IOC), and Fill-Or-Kill (FOK). These advanced options can provide traders some control over their strategies despite the platform’s relatively straightforward setup.
Futures Trading
WEEX offers over 478+ futures contracts, with competitive fees of 0.02% for makers and 0.08% for takers. The platform supports leverage of up to 200x, catering to traders who prefer high-risk, high-reward strategies.
The futures trading interface is relatively modern, aligning with what you might find on other exchanges. However, the order types are quite limited, which could be a drawback for traders seeking more flexibility in their strategies.
A unique feature is the ability to take screenshots of charts with a setup or an open trade. This can be particularly useful for traders active on social media who wish to share their trade setups or strategies with others. WEEX also provides demo trading for futures, allowing beginners to practice trading and experienced traders to test new strategies without risking real funds.
WEEX Fees
Trading Fees
WEEX applies standard fees across all users, regardless of trading tier or volume—unlike many other exchanges that adjust fees based on user levels. For spot trading, the platform charges a flat 0.1% for both makers and takers, while futures trading fees are set at 0.02% for makers and 0.08% for takers. Additionally, certain trading pairs, such as DENT/USDT on spot and RUNEUSDT on futures, come with zero fees for both makers and takers.
Unlike some exchanges, WEEX does not provide fee discounts for holding its native token, WXT. This approach contrasts with other platforms that incentivize token holding to reduce trading fees.
Spot Fees
0.10% Maker
0.10% Taker
Future Fees
0.02%% Maker
0.08% Taker
Deposits and Withdrawals
WEEX currently does not support depositing or withdrawing fiat currencies. You can only transact using cryptocurrencies through respective networks. For example, transferring USDT from another exchange will incur gas fees based on the chosen network. Using the Ethereum network may cost up to 7 USDT, while the Optimism network offers significantly lower fees, around 0.1 USDT.
The platform also supports internal transfers between WEEX accounts. These transfers are entirely free, making them a convenient option for users with multiple WEEX accounts or for sharing funds among friends or team members.
WEEX Products and Services
Trading tools are an essential feature of any crypto exchange, but what sets platforms apart are the additional products and services they offer. WEEX brings its own unique features to the table. Let’s take a closer look at its crypto products:
WEEX Trading Features
WEEX offers both spot and futures trading, with over 603+ cryptocurrencies available in spot and 478+ futures contracts. While the futures interface is relatively modern, the spot trading interface feels a bit outdated compared to other exchanges. Additionally, features like customizable layouts—where traders can rearrange elements like charts and order books for a personalized setup—are not available on WEEX.
WEEX integrates TradingView, a widely-used tool for technical analysis. This integration provides users access to advanced charting tools, including the ability to plot support and resistance levels, trendlines, and other custom charting features beyond standard indicators.
Copy Trading
WEEX offers Copy Trading, allowing you to replicate the trades of elite traders and earn a share of their profits. With a simple one-click setup, you can select a trader from a list, view their performance, and start copying their trades. Elite traders receive 10% of the profits earned by their copiers, calculated as (copiers’ profit – fee) × 10%.
This feature gives you the chance to minimize risk by following experienced traders, increasing your chances of successful trades. Copy trading also offers customizable settings, allowing you to adjust margin and risk control options for better control over their trades.
WE-Launch
WE-Launch incentivizes users holding WXT tokens by offering the opportunity to participate in weekly airdrops. The minimum requirement to start earning airdrops is 1,000 WXT tokens, but holding a higher amount increases your reward multiplier, allowing you to earn more. Participating is simple – with just a single click, you can commit your WXT tokens. Plus, if you ever decide to exit, your WXT tokens can be redeemed instantly, giving you the flexibility to leave at any time.
WXT Token
WXT Token is the native ERC-20 token of the WEEX exchange, designed to power the ecosystem and reward its active community. Holding WXT offers various benefits, including trading fee discounts, VIP perks, and opportunities to earn interest and rewards. The token also provides access to exclusive events and features like WE-Launch and copy trading profit shares.
Mobile App
WEEX offers an intuitive mobile app for both Android and iOS users, perfect for those who prefer trading on the go rather than being tied to a computer. The app features a beginner-friendly interface and an easy-to-navigate layout. You can create an account directly through the app, and it provides access to all the markets and trading pairs available on the desktop site. With the app, you can trade, deposit, withdraw, and copy trade without any issues.
OTC Express Trade
WEEX facilitates cryptocurrency purchases through an OTC express trade option for Chinese users, partnering with third-party payment providers to offer fee-free transactions. Credit or debit cards enable instant payments, while methods like Alchemy Pay, AliPay, ChipPay, and bank transfers provide additional flexibility based on location. Although a direct crypto-buying method for everyday retail buyers isn’t available, the platform caters more conveniently to institutions and high-volume traders, making it less approachable for casual users.
Rewards Hub
The Reward Hub on WEEX offers a variety of exciting events to engage you and enhance your experience on the platform. These events include futures trading competitions, spin-the-wheel games, and copy trading challenges, all designed to reward active participation. By taking part in these events, you can earn prizes and bonuses, adding extra value to your trading experience.
LUNC-Burn
Though not a direct product, the LUNC-Burn initiative by WEEX supports the Luna Classic (LUNC) community and its rejuvenation efforts by allocating 15% of their trading fees from both the Future and Spot platforms. This initiative aims to reduce LUNC’s overall supply, potentially boosting its value, and demonstrates WEEX’s solidarity with the LUNC community in their ongoing efforts to restore and strengthen the ecosystem.
WEEX Security
WEEX takes user security seriously and has put in place robust measures to safeguard funds and personal data. With features like two-factor authentication, funding passwords, and an official verification tool, the platform ensures that your interactions are secure.
To further protect yourself, users are encouraged to use the WEEX Official Verification Channel to check the legitimacy of URLs, emails, phone numbers, or Telegram accounts to avoid phishing scams and fraud.
Another key layer of security is the WEEX Protection Fund, where WEEX keeps a 1,000 BTC reserve. This fund acts as a safety net, providing extra protection in case of unexpected events, adding an extra level of security for users’ assets. In addition to these protective measures, WEEX adheres to the regulatory requirements of multiple regions, ensuring the platform operates securely and legally.
WEEX Customer Support
If you’re looking for quick and reliable customer support, WEEX may not be the best option. While they do offer a 24/7 live chat service, the support team tends to be slower than expected and may lack the expertise needed for more complex issues. Additionally, some support staff members rely on translation tools, which can sometimes lead to awkward or unclear translations. Overall, the customer support experience might not meet the expectations of those seeking fast and efficient assistance.
WEEX Alternatives
WEEX, launched in 2017, offers high leverage, but if you’re exploring other options, consider these:
- BYDFi: BYDFi offers similar high leverage with no KYC requirements and a wide selection of cryptocurrencies.
- BingX: BingX is another good option for high-leverage traders and also offers a variety of trading tools.
- Bybit: Bybit is a popular all-around exchange with a strong reputation, deep liquidity, and a wide range of trading tools.
| Feature | WEEX | BYDFi | BingX | Bybit |
|---|---|---|---|---|
| Established | 2017 | 2019 | 2018 | 2018 |
| Spot Fees (Maker/Taker) | 0.10% / 0.10% | 0.00% / 0.10% | 0.10% / 0.10% | 0.10% / 0.10% |
| Futures Fees (Maker/Taker) | 0.020% / 0.060% | 0.020% / 0.060% | 0.020% / 0.050% | 0.020% / 0.055% |
| Max Leverage | 200x | 200x | 200x | 100x |
| KYC Required | No | No | No | Yes |
| Supported Cryptos (Spot) | 462+ | 418+ | 824+ | 660+ |
| Futures Contracts | 198+ | 187+ | 246+ | 386+ |
| No KYC Withdrawal Limit | 2 BTC | 1 BTC | $50,000 | Not Allowed |
| 24h Futures Volume | $6.09B | $5.6B | $6.29B | $15.25B |
| Trading Bonus | $241 | $300 | $5,000 | $30,000 |
| Key Features | • No KYC required • High leverage (200x) • Multiple trading bots |
• No KYC required • High leverage (200x) • Zero-fee spot trading |
• Most cryptocurrencies (824+) • No KYC required • Forex/commodity trading |
• Highest trading volume • Advanced features • Multiple trading bots |
| Sign Up | Sign Up | Sign Up | Sign Up | Sign Up |
Bottomline
Selecting a reliable exchange with strong offerings is crucial, and while WEEX offers some attractive features, it has notable drawbacks. The trading tools could be enhanced to provide users with more flexibility and control, and their WTX token, unlike others, feels more like an incentive to hold it for low-tier project airdrops. The overall poor trading and customer support experience can detract from your trading journey. For a better experience, we recommend considering alternatives like Bybit or BYDFi if you prefer a platform with no KYC requirements.
FAQs
Is WEEX Safe?
WEEX appears to be a safe and reliable crypto exchange, operating since 2018. The platform has never been hacked. However, we still consider WEEX to be a high-risk exchange, and caution is highly advised. We recommend considering top alternatives such as Bybit or BYDFi.
Can you buy crypto on WEEX?
Yes, you can buy crypto on WEEX. The platform offers an OTC purchasing option in partnership with third-party payment providers, allowing users to buy Bitcoin and other cryptocurrencies conveniently and without fees. However, this feature is currently only available to Chinese users.
What is the Maximum leverage on WEEX?
WEEX offers leverage of up to 200x on derivatives and perpetual contracts, with access to over 100 trading pairs for active trading.
Can U.S. residents use WEEX?
Yes, WEEX is available to users residing in the United States. It operates globally as an unregulated, no-KYC crypto exchange.
Can you deposit fiat on WEEX?
No, fiat currencies are not supported for deposits on WEEX. The platform is designed for users who already own cryptocurrency. However, Chinese users can purchase cryptocurrencies through OTC trading via third-party payment providers.
Does WEEX have a mobile app?
Yes, WEEX has a fully-featured trading app available for download on both iOS and Android devices. The app includes all the trading markets and pairs available on the desktop site.
