Best For

      Advanced Traders
      ERC20 Focused Traders

IDEX is a decentralized cryptocurrency exchange (DEX) with 270+ listed ERC20 trading markets. The platform is mainly used by ICO speculators looking to trade their holdings and as a result, currently has the highest all-time transaction volume of any decentralized exchange.

IDEX Exchange - 2020 Comprehensive Review

Overall Score:

6
Trusted
Liquidity:
4 of 10
Purchase Options:
5 of 10
Ease of use:
6.5 of 10
Trust:
8.5 of 10
Fees:
6 of 10
Support:
8 of 10

IDEX Exchange Overview

Trading Fees Maker: 0.1% / Taker: 0.2%
Exchange Type Decentralized
Fiat Trading No
Purchase Options Crypto Deposits
Android App No
iOS App No
Trading Options Spot Trading
Order Types Limit, Market
Exchange Token IDEX
Token Benefits Staking trading fee rewards.
Charting Software TradingView
KYC Check No
KYC Rules Required for withdrawals exceeding $5,000 within a 24-hour period
IEO Platform No
Education Resources No
Convert Micro Balance No
Institutional Accounts No
Trading API Yes
Deposit Insurance No
Withdrawal Speed Fast
Customer Service Email
Promotions Frequent Trading Competitions.

IDEX Trading Fees (Maker & Taker)

TierMonthly Volume RequirementMakerTakerMaker
Discount
Taker
Discount
Level 1$1.00 + IDEX Balance = 0.000.10%0.20%0.00%0.00%

IDEX Withdrawal Fees

IDEX has a minimum withdrawal requirement of 0.04 ETH - or the equivalent amount for all listed tokens.

IDEX does not have a minimum deposit requirement or charge deposit fees. There is a minimum requirement per trade of 0.15 ETH for takers and 0.05 ETH (or equivalent amounts in tokens).

IDEX Markets & Volume

Rank

150

Total Assets

400

Total Markets

402

Volume 24h

$1,253,813.78

Volume 7d

$4,430,744.08

Volume 30d

$22,225,701.37

IDEX Top Markets

Crypto AssetsPricePairs24h Volume
EthereumETH$0.000$0.00

IDEX Supported Stablecoins

Stablecoin AssetsPricePairs24h Volume
TrueUSDTUSD$0.000$0.00
USD CoinUSDC$0.000$0.00
DAIDAI$0.000$0.00

IDEX Exchange Alternatives

Rating6/107.5/105.5/10
Trading FeesMaker : 0.1%
Taker : 0.2%
Maker : 0%
Taker : 0%
Maker : 0.1%
Taker : 0.1%
Fiat TradingNoNoNo
Purchase OptionsCrypto DepositsCrypto Deposits, Credit CardsCrypto Deposits
Trading OptionsSpot TradingSpot TradingSpot Trading
IEO PlatformNoNoNo
Mobile AppsNoYesNo
HeadquartersPanamaSingaporeMalta
Learn MoreReviewReviewReview

Pros and Cons

Pros

  • Token Incentives - The exchange provides incentives via two native tokens: IDEX Membership (IDXM) token and the IDEX (IDEX) token. The roles and benefits of both tokens are explained here in an in-depth blog post.
  • Non-Custodial - IDEX does not hold user funds. This reduces security risks for both the exchange and its users.
  • Available Assets - 70+ crypto assets are available for trading on IDEX. Major stablecoins listed include TUSD, USDC, DAI, and PAX.
  • Customer Support - IDEX users have a number of customer support options to choose from, including live chat, email, and Discord.
  • Margin Trading - IDEX margin trading supports synthetic positions and up to 4x leverage for Bitcoin (BTC) and Ethereum (ETH).

Cons

  • High Fees - All takers pay gas fees in addition to the trading fee of 0.2%.This means that realized fees can be quite high whenever the Ethereum blockchain is congested.
  • High Order Minimums - IDEX places a minimum requirement per trade of 0.15 ETH (or equivalent token amount) for takers and 0.05 ETH (or equivalent token amount) for makers. Withdrawals must be a minimum of 0.04 ETH. For users seeking to make micro-trades, IDEX is not an ideal platform.
  • Ethereum Assets Only - IDEX only supports trading for ETH and ERC20 tokens. The platform doesn’t support popular crypto assets like BTC, XRP, and EOS.
  • Location Restrictions - IDEX banned IP addresses from the state of New York in October 2018. The exchange has placed a number of global restrictions on trading certain crypto assets based on IP address location.
  • Low Liquidity - Many markets on IDEX have extremely low 24 hour trading volume.
  • No Mobile App - There is currently no mobile app for IDEX. IDEX tweeted in May 2018 that a mobile app is on the exchange’s roadmap but has provided no further information since.

Frequently Asked Questions

Is IDEX decentralized?

Is IDEX safe?

Does IDEX require KYC?

Does IDEX have a mobile app?

Does IDEX offer margin trading?

Summary

Once the most popular decentralized exchange (DEX) choice for ERC20 focused traders, IDEX is now in decline due to predominantly low quality asset listings and recent KYC implementations to appease regulators.

IDEX brands itself as a decentralized exchange but the platform has several characteristics commonly found in centralized exchanges. IDEX was a hybrid model from its inception due to its use of off-chain order books and order matching. Decisions by executives to introduce KYC checks and IP bans have led to even more centralization over time.

Overall, Blockfer does not recommend trading on IDEX. We believe there are better options for users seeking a more decentralized trading experience.

Learn More Best Features

IDEX Official Website

  • Trade ERC20 token assets from smaller and or newer projects that are not listed in other exchanges.
  • Non custodial exchange.

Legal & Regulation - Facts & Figures

Legal Name Aurora Labs
Incorporated Country Panama
Headquarters United States
Year Founded 2016
CEO Alex Wearn
Total Employees 1-10
Regulators No Regulators
Links Website, Crunchbase, Whitepaper, Source code, Twitter, Blog, LinkedIn
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