Bitfinex Review

Bitfinex is a leading cryptocurrency exchange offering cutting-edge trading products and options at competitive rates.

Learn more about Bitfinex.

Giancarlo Devansini and Rafael Nicolle established Bitfinex in the British Virgin Islands in 2012. The company is currently headquartered in Hong Kong and is run by CEO J.L. Van Der Velde. The exchange is owned and run by iFinex, Inc.

The company’s estimated net worth exceeds $800 million, and its clientele is always growing. The trading volume over a 30-day average now regularly exceeds $58 billion.

With operations in the UK (GBP), Europe (EUR), Japan (JPY), and other countries across the world, the cryptocurrency exchange has expanded to become one of the biggest in the world. Due to the wide variety of products offered, it is significant to mention that its services are most suited to seasoned or expert traders.

The platform provides margin trading, staking, and lending in addition to the typical buying and selling of cryptocurrencies.

Trading platform

A frictionless trading experience is provided by Bitfinex. Customers that sign up can swap and purchase well-known cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Neo, among others, using order books with first-class liquidity.

A large selection of technical indicators and pattern detection tools are available for advanced market analysis. Additionally, it provides advanced reporting and a Python 3 API. The quality and variety of features available are one of the reasons why experienced investors use the Bitfinex terminal.

The exchange also provides perpetual swaps as part of a variety of futures, charts with extensive historical data, and the possibility to link to a Bitfinex Lightning node that enables rapid payments, in addition to nine order types (including a stop limit).

Bitfinex Reviews
Bitfinex Reviews

In addition, clients can access:

  • Margin Trading: Up to 10x leverage is available through the peer-to-peer margin trading platform. This means that you cannot use higher rates, such as 100x or 300x leverage. Within the same service, users can claim positions by partially or fully paying for transactions with funds in a margin wallet.
  • Margin Funding: The Funding Market offers a way to earn interest on fiat and digital assets by lending capital. Clients make a profit every time an investor borrows capital.

Please note that the dark interface can be customized according to individual preferences, and the terminal is compatible with MetaTrader 4 and MetaTrader 5.

How to Open a Bitfinex Account

With Bitfinex, creating an account is a straightforward process. On the broker’s website, clients can create an account. Contact information is a must for all customers to abide by the verification process. Note that the KYC verification process can take up to 8 weeks.

Because they are easily lost and you will need them to log in again, make sure you write down and carefully preserve any 2FA barcodes. Having said that, if your 2-factor authentication is lost, kindly get in touch with customer service.

By providing the necessary paperwork, a personal account can be converted to a business account. Additionally, if you have an invitation code, this is the ideal moment to use it and maximize your trading cost discounts.

Products and tokens

Over 170 trading pairs are available on Bitfinex, including those for the top cryptocurrencies Ethereum, Dogecoin, Bitcoin, Ripple, Ecomi, and EOS. Users have a choice of tokens matched with conventional currencies such as the USD (i.e., BTC/USD), GBP, EUR, and JPY, as well as crypto-only pairs. There are also other coins like Tron, Stellar, and Neogas available.

Spreads and Commission

While creation fees range from 0.1% to 0.0%, fees range from 0.2% to 0.055%. Trading large orders on the OTC counter is free of commission. Comparing costs, Bitfinex and Binance are slightly more expensive but still within the range of the market.

There is a 0.1% deposit and withdrawal fee for wire transfers. When taking money abroad, this amount may rise by up to 1%.

The $10,000 deposit and withdrawal minimums both apply. On the fees page of the Bitfinex website, you can get a thorough overview of the cost structure. Prices are given in a variety of currencies for your convenience.

Mobile app

Bitfinex offers a complete investment experience on the go through its mobile app. View positions, open orders, and access your history with just a few clicks. The app can be set up in three easy steps:

  1. Download the app from the App Store or Google Play Store.
  2. Create a new API.
  3. Scan the QR code.

Bitfinex Payment Methods

Fiat deposits in GBP, EUR, Yen, and USD are accepted by Bitfinex. Deposits made with Fiat can only be made via bank transfer. Additionally, free deposits can be made in a variety of cryptocurrencies, including Bitcoin, Litecoin, Ethereum, Zcash, Monero, Dash, Ripple, IOTA, and EOS.

Depending on the coin selected, the time for withdrawal and deposit varies, but it often takes a few minutes. Tether deposits made with accelerated cryptocurrencies might need more verification.

Bitfinex Reviews
Bitfinex Reviews

Regulation and licensing

Despite being registered in the British Virgin Islands, Bitfinex is not subject to any governmental licensing restrictions. Exchanges that are not regulated cannot offer the same security assurances. Furthermore, there is no assurance that a security compromise like the one that Bitfinex had in 2016 won’t occur again.

Customer Service

The support staff is there to assist you with problems like invalid token errors, zero confirmed messages, or insufficient exchange balance status. On the broker’s website, under the “Contact Us” button, are contact details. Your request must be made using an online form. Usually, responses come swiftly.

The website is available in 5 languages, including English, Spanish, and Chinese, to ensure that as many consumers as possible may access it and the services provided.

You can also access additional support through company social media and online messaging accounts. Bitfinex is active on Twitter, Telegram, YouTube, Discord, and LinkedIn.


Bitfinex is a fantastic choice if you are an experienced cryptocurrency investor who wants to trade in large volumes. Its platform has a variety of sophisticated features, a wide selection of cryptocurrencies, and a clear fee structure. But it’s important to remember that the business has a history of security lapses, not the least because of the charges of money laundering in Tether’s complaint.