What is Zoomex?
Zoomex is a relatively new crypto exchange established in 2021, and is currently based in Singapore. It uses an innovative structure, where users can choose between using a decentralized exchange and centralized exchange based on their preference. Both versions of the platform have unique features and options to benefit users.
Zoomex has made it easy to purchase cryptocurrencies with fiat assets using the payment channels available on the platform. There are 100+ crypto assets that you can trade inverse perpetual and USDT perpetual derivatives. The exchange is available worldwide, and is particularly widely used in Korea, Japan, Europe, and South Asia. Zoomex is also the seasonal sponsor of Villarreal CF.
Our Overall Thoughts on Zoomex
Zoomex is a newer crypto exchange, but this does not mean inexperience and a lack of legitimacy. In fact, Zoomex is highly innovative, with a platform that supports centralized and decentralized trading, and it holds US MSB License and Canada MSB License, regulated by FinCEN and Financial Transactions and Reports Analysis Centre of Canada respectively.
Here are our three top reasons why we like using Zoomex:
1) Campaign famous exchange: Zoomex offers a variety of customized campaigns for their users. For example, if you register now, you will find deposit and trade tasks in the Reward Hub, where you can claim over 300 USDT in bonuses and coupons. This allows you try out Zoomex for free.
2) Perfectly suited for advanced users: Zoomex's trading interface is integrated with a variety of tools, features, and options that can enhance your trading experience. You can access a range of indicators, chart styles, drawing tools, depth charts, time zones, and much more. Zoomex also boasts high liquidity so you can trade frequently without worrying about slippage. We also found the 24/7 customer support extremely useful, and they offer different languages to cater for their large global user base.
3) The choice between CEX and DEX variations: Zoomex is a unique crypto exchange in that users can choose between a centralized (CEX) or decentralized (DEX) version of the platform. The CEX site is a regular crypto exchange operated by Zoomex, while the DEX site gives users unparalleled privacy by linking an external wallet, while still giving access to high liquidity. Switching between the two is as easy as clicking a toggle button on the site.
One disadvantage of Zoomex is that it is currently not supported in some countries, for example the US and China. Hopefully in the future they can offer their services to those residents, and enhance their crypto trading experience.
Key Features and Advantages of Zoomex
Zoomex has transformed the concept of versatility, security, and privacy in crypto exchanges by combining two versions of their platform in one place. Zoomex provides traders with a professional and advanced trading interface whether you choose the DEX or CEX version. Let's have a look at all that this exchange offers their users:
Negatives and Disadvantages of Zoomex
Here is a disadvantage of Zoomex which you may need to consider before registering:
What Services Does Zoomex Offer?
Buy crypto with a variety of fiat currencies: You can buy BTC and USDT on Zoomex using fiat currencies, with a range of payment methods like PayPal, bank transfer, credit/debit cards, and e-wallets. Fiat transactions are quick, and usually only take a minute.
We found the fiat gateway very useful when we tested out the exchange, because it means you can immediately get your hands on USDT or BTC and begin trading. For those who don't already own cryptocurrency, this is the simplest way to acquire some to start your trading journey.
100+ crypto assets are available: Zoomex offers more than 100 cryptocurrencies for users to trade, with a diverse range of trading pairs. With so many options, you will find plenty of opportunities for profitable trades. Some of the popular coins available are BTC, ETH, SOL, GMT, SAND, MATIC, APE, ARP, and ATOM.
Trade inverse and USDT perpetual contracts: Zoomex users can trade perpetual inverse contracts and USDT perpetual contracts on this exchange. Inverse perpetual contracts use the coin itself as the collateral, and only the most popular cryptocurrencies can be traded in this way.
USDT perpetual contracts use Tether (USDT) as the collateral, making it the more popular choice. There is also a much wider variety of cryptocurrencies to trade with USDT perpetual contracts.
Advanced mobile apps available: Zoomex has professionally-designed mobile apps which are available for free on Android and iOS devices. The app has all the features, functions and tools that are found on the desktop site. You can access the fiat gateway to buy USDT or BTC, and then trade using the optimized interface for mobiles.
We made some USDT perpetual trades on the Zoomex app and it was just as easy as doing it on our desktop computer. The charts, technical analysis tools, and order book are all readily available.
Trade professionally with countless features: The trading interface of Zoomex is designed for professional and advanced trading. Each trading pair has fast and accurate charts so you will always have access to precise prices and market movements before executing your trades.
The platform provides a lot of customizable features to enhance your trading experience further. For instance, you can draw, enter text, use crosses, trend lines, pitchfork, and more. You can also access the depth charts of the assets to gauge the market psychology. Zoomex provides a separate section for the order book and trade execution where you can specify the settings and place your orders.
Copy Trading so you can profit from the experience of others: Copy Trading is a feature found on many popular crypto trading platforms. This allows you to follow someone who is a proven successful trader (based on their profit and win rate) and automatically make the exact same trades as them. This means that you will make the same gains as them, and you are profiting from their knowledge and experience in the industry.
When we tested out the copy trading feature over a few weeks, we found that we made a decent profit, and all without having to do any research on the state of the market, or spending any time on technical analysis.
Choose between DEX and CEX exchange: Zoomex offers users a choice between their decentralized and centralized version of the exchange.
The decentralized version comes with premium security and no interference from any third party to hinder your trading experience. You can simply connect your crypto wallet (eg: Metamask) to the exchange and start trading right away without providing any ID. On the other hand, the centralized exchange comes with a beginner-friendly layout managed by Zoomex. You have to sign up on the platform with your personal details to have access to all the features that are available on the centralized version of the platform.
It's up to your personal preferences whether you choose the DEX version with no KYC and more privacy, or the CEX version that is more suitable for beginners, or casual traders.
Live Chat support: Zoomex offers live chat support for anyone that has any issues with the platform. The chat feature is in the bottom right of the site, and when you first open it you will be greeted with a bot. If the bot is unable to direct you to the necessary information, you will be placed in the queue for the live chat agents.
When we tested out the feature, there was only one person in queue before us, and it took less than 30 seconds to begin our conversation with the customer support agent.
Great affiliate and referral program for users: Zoomex rewards you for bringing more users to their platform. The basic referral program is for the casual crypto trader who invites friends to sign up to Zoomex. This offer changes, but at the time of writing, you earn 5 USDT coupon for signing up one person, and the rewards are higher the more you refer. For example, if you sign up 10 friends, you receive a 100 USDT coupon.
If you are an influencer or YouTuber, you can sign up for the affiliate program instead. You receive 40% commission of the fees paid by all of the users that you refer to Zoomex. This can equate to a few thousand dollars per month if you attract some large-volume day traders.
Besides making money from trading, you can create a secondary passive income stream through the affiliate program, which is definitely a nice boost to your bank account.
Rewards Hub where you can access bonus crypto: If you sign up to Zoomex with our link here, you receive special access to certain tasks, where you receive free crypto! For example, if you deposit $100 or more, you will receive $10 USDT bonus!
When it comes to trading, you receive $10 USDT coupon when you trade at least $100. If you are a high volume trader, you can access massive $100 and $200 USDT coupons, when you trade over $100,000 and $500,000 respectively.
Beginner-friendly platform: Zoomex is a beginner-friendly platform that comes with an easy-to-understand layout and interface that any amateur can easily understand. To get started, all you have to do is register using your email or phone number, and create a password to get full access to their features.
The platform has divided all of its sections in the menu so users can quickly access what they are looking for. Buy crypto, trade, copy trading, and more are all within easy reach. We found it easy to navigate the platform, with no complications at all.
Zoomex also has beginner-friendly competitions that appeal to many users. For example, there is a Frequent Trading Competition with lots of rewards, such as bonuses, coupons, and even signed football jerseys!
Useful Help Center: Zoomex has provided a Help Center to help users learn more about cryptocurrency and understand concepts of trading, web 3.0, and investing.
There are various sections available, providing users with essential content for learning and understanding. Simply choose the topic you want to learn about and detailed guides will be provided for you.
Even if you are new to the crypto industry, Zoomex can help you get started on their platform. You can begin your crypto journey without having prior experience, and develop your skills through the content provided in the Help Center.
What We Don't Like About Zoomex
Zoomex is a great trading platform for many users, but this is one negative aspect that you should consider before joining the platform:
No spot trading: While Zoomex excels in providing derivatives trading to users, they do not currently support spot trading. Some crypto traders prefer trading on the spot, so it is unfortunate that Zoomex doesn't have this capability to suit all users.
Zoomex Fees
Zoomex Deposit Fees
Zoomex does not charge any fees for depositing cryptocurrencies on the platform. If you plan to buy BTC or USDT using fiat, you will have to pay a transaction fee that varies depending on the third-party merchant you use.
Zoomex Trading Fees
Zoomex charges the same fee for USDT contracts and inverse perpetual contracts. Makers are charged 0.02% and takers are charged 0.06%.
While the trading fees on Zoomex are higher than some other crypto exchanges, we found that each Saturday, all Zoomex users are given a 50% trading fee discount!
Additionally, Zoomex runs a lot of campaigns, where you win bonuses and coupons for participating. These can be used to compensate for the trading fee charged.
Zoomex Fiat Withdrawal Fee
Fiat withdrawals are not supported on Zoomex.
Zoomex Crypto Withdrawal Fee
Crypto withdrawal fees vary depending on the coin you are planning to withdraw. You can check the fee at the time of withdrawal, and as an example, BTC withdrawal fee is 0.0005 BTC, and ETH fee is 0.005 ETH.
Pros and Cons of Zoomex
- Buy cryptocurrencies with fiat assets
- Trade inverse and USDT perpetual contracts
- Professional trading interface
- Copy Trading supported
- Live Chat support available in case you have any issues
- No spot trading markets available
The Verdict
Zoomex is an excellent cryptocurrency trading platform for derivatives traders, with access to inverse perpetual contracts as well as USDT perpetual contracts, with more than 100+ coins on offer. It also has the unique ability to offer a centralized and decentralized version of the exchange, which many users find attractive.
The low fees and advanced trading tools give a professional experience, offering users the latest features, functions, and tools in one place. The main downside of Zoomex is that it does not offer spot trading; if you are looking to spot trade, you can look at other trading platforms here.
Frequently Asked Questions
Yes, Zoomex is a legit cryptocurrency exchange that was established in 2021 and is headquartered in Singapore. The platform provides an advanced experience to users.
Yes, Zoomex holds a US MSB license, and is regulated by FinCEN, therefore US residents can sign up to the exchange.
Zoomex offers their users a wide range of more than 100 crypto assets to trade. You can also choose between inverse perpetual contracts and USDT perpetual contracts while trading.
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