BexBack.com Review: My Honest Opinion

We have a new competitor in town:BexBack, Launched in May 2024, it is a cryptocurrency derivatives platform offering high-leverage trading.

Headquartered in Hong Kong, it operates globally with branches in major financial hubs like Singapore, the U.S., and Brazil. The platform is licensed under the U.S. Money Services Business (MSB) and supports over 100,000 users worldwide.

In this article, we will review Bexback.com and will provide a complete overview of it’s features, fee details, strengths, weakness and will answer the question weather you should try it out on not?

Get 100% Deposit Bonus BexBack.Com Features

We have identified some prominent features of bexback which makes the platform standout amongst the other crypto exchange platforms.

• 100x Leverage: Allows to trade in most cryptos with only 1% margin requirement.
• Zero Slippage and Spread: Ensures order execution aligns with market prices, even during volatility and order execution is done.
• No KYC Requirement: Users can register and trade with just an email, making it the best option for anonymous traders.
• Demo Account: Offers 10 BTC in virtual funds for practice and strategy testing.
• Mobile Accessibility: Available on Android and iOS as well as Web platform.
• 24/7 Customer Support: Provides one-on-one assistance.

Demo Account

When you sign up, you get a demo account with 10 BTC that you can refill as much as you want. This lets you practice leverage trading and test strategies without risking real money. It’s a great option for beginners.

Leverage

• BexBack provides up to 100x leverage, allowing traders to amplify their trading positions significantly. This means you can control a much larger position with a smaller investment, which can increase potential profits but also adds considerable risk.
• The leverage system operates on a Full Margin Mode, meaning your entire margin balance can be used for open positions. This approach helps to keep positions open longer in the face of price volatility.1

Risk Management Features

• BexBack includes automatic risk management tools to help protect users from significant losses:
  • Auto-call Profit: Automatically closes positions when a set profit is reached, ensuring traders can lock in their gains.
  • Auto-cut Loss: If the market moves against a position and the margin falls too low, BexBack will automatically close the position to minimize losses.
• The platform also ensures there is no negative balance risk for traders, meaning your account cannot go below zero.

Get 100% Deposit Bonus Price Index

• The platform uses a price index sourced from major exchanges such as Binance, Bybit, OKX, and Kraken. This helps ensure that contract prices are fair and in line with broader market values.

Contract Types

• BexBack primarily offers perpetual contracts for popular cryptocurrencies like BTC, ETH, ADA, SOL, and XRP. Perpetual contracts have no expiration date, allowing users to hold positions as long as their margin requirements are met.
• Margin and leverage options are available for each contract type, and traders have control over how they want to manage risk and exposure.

Deposit & Fees

• Trading Fees: 0.075% per trade for both opening and closing positions.
• Minimum Deposit: There is no limit, but trading is not possible with available margins below the value of 0.001 BTC, so it is recommended to deposit more than 0.001 BTC or the equivalent in ETH, USDT, XRP, etc.
• Deposit/Withdrawal Fees: None, making it highly cost-effective. However, network fees may apply depending on the cryptocurrency used.
• Overnight Interest: You will be charged a loan interest at 0.1% of the contract value if the holding time of positions exceeds the UTC time of 00:00:00. Nevertheless, you won’t be charged any loan interest if you don’t hold any positions at that point in the time.

Get 100% Deposit Bonus Supported Currencies

BexBack is a relatively new exchange and currently supports deposits and trading in all major cryptocurrencies like:

• Bitcoin (BTC)
• Ethereum (ETH)
• Tether (USDT)
• Ripple (XRP)

Additional cryptocurrencies like Solana (SOL) and Cardano (ADA) are also supported for trading with support for more cryptos on the way.

Withdrawals

Withdrawals are straightforward, with no platform-imposed fees. Users can withdraw profits generated using bonuses, although the bonuses themselves are non-withdrawable.

There are no maximum or minimum withdrawal limits.

For BTC, the withdrawal fee is 0.0001 BTC (If the BTC price is $50,000, then it is $5.)

Rates and Promotions

• 100% Deposit Bonus: Doubles user deposits (e.g., 1 BTC deposit becomes 2 BTC, up to 10 BTC maximum). Profits earned using this bonus can be withdrawn. To claim users have to fill out the 100% deposit bonus claim form after depositing.
• $50 Welcome Bonus: Credited after completing the first trade, usable for offsetting losses.

Strengths

1. User-Friendly: Easy to understand interface and demo account for practice.
2. Cost-Efficiency: No deposit/withdrawal fees and tight spreads.
3. Global Access: Available in over 200 countries unlike some major platforms.
4. Privacy-Focused: No KYC requirements.
5. High-Leverage Options: Ideal for risk-tolerant traders with proper risk managment and market knowledge.

Get 100% Deposit Bonus Weaknesses

1. Limited Crypto Selection: While core cryptocurrencies are supported, altcoin options are somewhat limited.
2. Non-Withdrawable Bonuses: Bonuses add flexibility but aren’t directly cashable.
3. Potential Risk: High leverage like 100x is risky and unsuitable for inexperienced traders.

Final Thoughts

BexBack is a very young crypto exchange and is looking to gain foothold by offering significant promotional rewards and high leverage features. It emerges as solid option for traders looking for high-leverage platform. Its no-KYC policy and lack of fees make it particularly attractive for privacy-conscious users.

However, beginners should approach with caution, given the high risks of leveraged trading. It also has strong security features like SSL encryption, multi-signature technology, cold wallet storage, 2FA and DDoS attack defense to secure users’ accounts and assets.

Recommendation: Ideal for experienced traders and privacy-focused users but proceed with proper risk managment for beginners due to capital loss risk in 100x leveraged trading. Overall, a secure and smooth platform for crypto trading.

For more information, visit their official website.

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