Zoomex Review 2024 – Is This Spot & Futures Crypto Exchange Legit?

Are you ready to find out if Zoomex can offer you the best of both worlds—secure spot trading and exhilarating futures trading? This comprehensive review will help you decide!

Zoomex is a relatively new cryptocurrency exchange that offers a mix of enticing and profitable opportunities while keeping your anonymity and safety intact—critical in the fast-paced and risky world of crypto. Be it altcoins, solid liquidity, high leverage, copy trading, or mouthwatering rewards, Zoomex has it all to supercharge your crypto journey. Now, let’s begin exploring the Zoomex crypto exchange.

Key Takeaways From Our Zoomex Review

Founded during the last crypto bull cycle, Zoomex is a cryptocurrency trading platform that’s making waves globally. With a massive user base exceeding two million, Zoomex prioritizes security, compliance, and privacy.

On Zoomex, traders can delve into spot and futures with jaw-dropping leverage up to 150x, all without the hassle of KYC verification. With its plans to roll out crypto derivatives and a spot-matching trading system next, Zoomex continues to captivate both seasoned investors and newcomers alike.

So, let’s take a look at these features that make it stand out among the growing number of crypto exchanges:

• No need for KYC verification guarantees user privacy and security, ensuring a seamless onboarding experience.
• Ensures smooth and efficient trading with robust market-making capabilities, reducing volatility and minimizing slippage.
• Adheres to high-security standards and is licensed under the Canada MSB by FINTRAC.
• Offers both centralized and decentralized trading exchanges.
• Attractive promotions, including enhanced funding options, airdrops, and giveaways, to boost trading capital and profit potential.
• Provides leverage up to 150x in the futures market, offering high-stakes trading opportunities for those seeking significant gains.
• It supports trading of major and emerging cryptocurrencies, as well as popular meme coins, catering to diverse trading interests.
•  Features indexes like BTC, ALT, AI, and QUICKLER allow users to bet on entire sectors or narratives.
• Protects user assets with advanced security protocols, including regular security checks and upgrades to safeguard against external attacks.
• Offers a smooth and intuitive trading experience to mobile users with features like night and day switch modes, QR code login, and seamless integration with Google and Apple accounts.

Pros & Cons of Zoomex 

The standout feature of trading on Zoomex is undoubtedly the absence of KYC (Know Your Customer) verification, a rarity in today’s crypto landscape. That, along with regulatory compliance and promotional campaigns—including cash airdrops, signed jerseys by Mbappe and Cristiano Ronaldo, and Tesla giveaways—makes Zoomex attractive. Moreover, the fact that Zoomex is pretty responsive to customer suggestions also adds to its charm.

However, Zoomex falls short in one critical area: the absence of a staking feature, which is considered standard across the industry, particularly for assets like ETH and USDT.

Pros

• Wide range of supported cryptos
• Spot and futures trading
• Up to 150x leverage 
• Competitive fees
• Copy Trading
• No KYC

Cons

• No crypto staking support

Visit Zoomex

Our Methodology for Reviewing Zoomex

At 99Bitcoins, we uphold a gold standard by assessing platforms and their offerings through a crystal-clear, unbiased lens. This empowers our readers with the knowledge they need to make informed decisions. Our team of experts provides fresh, actionable insights, enabling our readers to capitalize on opportunities as they explore the crypto landscape.

For this in-depth Zoomex review, we scrutinized the crypto exchange across various factors: trading technology, costs, features, usability, compliance, educational material, customer service, and security. Leveraging our deep market expertise and comprehensive data, we aim to help our readers determine if Zoomex is the right platform for their trading needs.

Zoomex’s Top Features

Now, we’ll take a detailed look at the prominent features of this exchange, so without any delay, let’s get started!

No KYC Required

Yes, you heard it right. On Zoomex, you don’t have to go through the cumbersome process of revealing all your private information to an exchange you haven’t even tested yet. Talk about respecting boundaries!

By forgoing KYC verification, Zoomex puts a special focus on user privacy, which is becoming increasingly important in today’s world, where data centralization and safety have become grave problems. With its firm commitment to user anonymity, Zoomex distinguishes itself from its competitors, offering both novice and seasoned traders unparalleled peace of mind.

Solid Liquidity for Ease of Trading

A crypto exchange must provide ample liquidity for efficient trading, and Zoomex certainly delivers this with its robust market-making capabilities.

The Zoomex exchange liquidity ensures top-tier performance, enabling you, my dear trader, to enjoy a smooth and efficient trading experience. High liquidity is essential for reducing volatility and achieving tighter spreads, which in turn minimizes slippage, facilitating easier entries and exits for you.

But that’s not all—high trading volume means that even large orders won’t significantly affect the price, thus promoting greater market stability. Additionally, your orders will fill faster, which is one of the topmost Zoomex features that attracts even more traders. This enhances price discovery and ultimately leads to increased market confidence. 

Be Comfy in the Spot or Maximize Gains with High Leverage

Ideally, the best way to enjoy crypto is to ‘buy spot and chill.’ Given the inherent volatility of cryptocurrencies, which offers the potential to 1000x your investment, spot trading is definitely the way to go. In fact, Zoomex boasts a vibrant spot market teeming with a huge list of cryptos to buy, sell, and trade. 

If you’re captivated by the allure of leverage and high volatility, Zoomex also provides derivatives trading. It offers leverage as high as 150x, varying by asset, treating you to a high-stakes trading environment. 

Also, during our Zoomex futures cryptocurrency exchange review, we found that the range of crypto futures available on Zoomex is even more extensive than its spot market. Beyond your standard tokens like BTC, ETH, PEPE, and WIF, you can slide that leverage high on even newer tokens such as MOG, NOT, BLAST, GME, and many more. This allows you to dive into extensive trading action at Zoomex.

Additionally, Zoomex offers two types of perpetual contracts. The most popular one uses USDT as collateral, while inverse perpetuals are settled in the underlying asset—that is, the coin itself serves as collateral. Note, however, that inverse perpetuals are available only for BTC, ETH, XRP, and EOS.

Replicate the Success of Profitable Traders

If you’re anything like me and enjoy learning from the best, then you’ll really appreciate the copy trading feature. Traders, especially newbies, can seize this golden opportunity to follow more experienced traders and notch up profitable trades themselves. 

Zoomex has an impressive list of skilled traders, each with a proven track record of stellar performance. You can cherry-pick the crème de la crème based on factors like the number of followers, weekly win rate, and followers’ profit gain. Once you have made the decision, you can start mirroring the strategies of your chosen trader and replicate their success with just a single click.

At Zoomex, you actually have two options when it comes to copy trading. The first allows you to replicate every detail of the master trader’s order, including trade direction, margin settings, leverage, stop loss, and take profit settings. The second option offers more flexibility, enabling you to customize parameters like leverage to suit your trading style.

The copy trading feature allows you to harness leverage of up to 30x. However, your investment is limited to $50K, and the Zoomex fees you’ll incur are aligned with those charged for trading futures.

The benefits aren’t limited just to followers, though. After all, the professional traders, too, have a skin in the game. Hence, they get to earn a passive income—up to 10% of the net profit generated from their followers.

To become a master trader, one must apply on Zoomex by creating a personal profile with a detailed trading strategy. After that, they can simply start creating orders and potentially earning from their expertise.

Enjoy Generous Rewards 

If you like earning rewards, you will love Zoomex. This platform offers a treasure trove of opportunities. 

Zoomex consistently launches exciting promotional campaigns featuring global trading competitions like ZWTC, welcome campaigns, and special events celebrating the World Cup and Euro Cup. With a bit of luck, you could even win amazing prizes in their thrilling giveaways, including Teslas!

Such promotions are fairly standard in the crypto world, used by companies to attract new users and keep their most loyal ones engaged. However, Zoomex takes it a notch higher with its diverse events and generous rewards.

The platform even has an entire section called ‘Gaming,’ where you can play online multiplayer crypto games like ‘To The Moon,’ which offers maximum winnings of up to an eye-watering 5000X return.

Zoomex rolls out the red carpet for new users with a $45,115 USDT reward. To qualify, you must create an account and make a first-time deposit of $500.

Additionally, there’s an enhanced funding promotion that can boost your trading capital. To qualify, you need to maintain a minimum balance of 500 USDT in your account. If you meet this requirement, your USDT balance will double.

But wait, there’s more! While staking is the most popular way to earn passive income in crypto, Zoomex does not currently support staking for any crypto asset, not even ETH. However, it compensates with a 100% APY campaign. In this program, with an initial eligible capital that must remain intact throughout the campaign and $100K in trading volume during the period, you can earn a cash reward of up to 1000 USDT at an impressive 100% APY.

Funding & Cashing Out

While Bitcoin has existed for a decade and a half and the industry has matured, moving money in and out of the crypto world still feels more like an escape room challenge than a financial transaction. While Zoomex technically is in the same boat, it has a trick up its sleeve—its Express service supports a wide range of fiat currencies. 

Deposit options? You name it, they’ve probably got it—from regular choices like Visa, Mastercard, bank transfer, ACH, Google Pay, and Apple Pay to crypto gateways like MoonPay and Alchemy Pay. The minimum deposit amount depends on which third-party service you opt for, while for crypto, it’s pretty standard. 

KYC verification is not needed for withdrawals up to 100 BTC. However, completing KYC level 1 will double your limit to 200 BTC if you need to withdraw more.

Which Cryptocurrencies Does Zoomex Support?

While majors like Bitcoin and Ethereum are the most well-known among cryptocurrencies, and almost every crypto exchange offers them, it’s the eclectic mix of altcoins that really spices up the crypto scene.

On platforms like Zoomex, not only can you trade established coins like XRP, TRX, LINK, and BNB, but you also get access to a host of emerging stars like ONDO, MNT, CAKE, FTM, and more. Plus, if you’re into meme coins, Zoomex has you covered with favorites like DOGE, SHIB, and PEPE. So, rest assured, you’ll get to be part of all the crypto fun.

The main question, however, is how Zoomex stacks up against its peers. Well, with more than 50 tokens available for spot trading and over 300 in the futures market, Zoomex is definitely in the league of top crypto exchanges globally. In comparison, Coinbase and Kraken have about 250 coins, KuCoin over 800, and Bybit more than 700, according to CoinGecko.

Zoomex also spices things up with four indexes that allow you to wager on entire sectors or narratives instead of playing the one-coin band. These indexes include BTC, ALT, AI, and QUICKLER (5-second trading). All of them have a profitability of 85% except BTC, which has a profitability of 70%. 

Zoomex Fees Explained

Now comes the most important part: fees. Naturally, the golden rule is that the lower the fee, the better because while no one enjoys parting with their money, it’s an unavoidable part of trading.

First, let’s look into the spot market. To ‘buy spot and wait for your turn,’ you must pay a maker fee of 0.1% for adding liquidity and the same rate for a taker fee when you remove some.

Futures trading, on the other hand, is generally lighter on the wallet compared to spot trading, as is the case across the industry. Here, the maker fee drops to a slim 0.02%, while the taker fee remains at 0.1%. However, this taker fee significantly decreases if you trade in large sizes. By large, we mean a trading volume of $5 million and above.

Trading futures also involves paying funding fees, which Zoomex settles three times daily. At the moment, the funding rate on Zoomex for BTC/USDT is 0.01%. 

In a lineup of popular platforms, Zoomex finds itself comfortably in the middle. It’s not the discount bin, but it doesn’t hit your wallet like several other exchanges.

Take, for instance, the maker and taker rates for spot trading on Zoomex, which mirror those of Binance. As for futures, Binance edges out slightly with a cheaper taker fee of 0.05% for a 30-day trading volume under $1.5 million, while funding is the same. 

As for non-trading fees, Zoomex doesn’t charge any transaction fee, but keep an eye on those third-party service providers—they still want their cut. Withdrawal fees, meanwhile, depend on the cryptocurrency you choose.

The platform sticks to fixed fees for speedy transfers, highlighting the Zoomex exchange transaction speeds, but is planning to introduce a feature that will allow traders to select their own withdrawal fees. This enhancement aims to give users more control over their transaction costs while maintaining the efficiency of their trades.

What Sets Zoomex Apart From Competitors?

As we discussed above, Zoomex is KYC-free and offers competitive fees. Then there’s the native token. At first glance, a crypto exchange with its own token might not raise eyebrows—after all, a quick scroll through CoinGecko’s ‘Exchange-based tokens’ category reveals over a hundred similar offerings. So, what makes Zoomex’s token stand out?

Unlike competitors who were quick to launch their tokens at the start of their ventures, Zoomex has opted for a more strategic approach. After three years of honing its platform and building a robust community, Zoomex is launching its token amidst more favorable market conditions in 2024. 

Then there’s the Whale Affiliate Program, which goes above and beyond the usual perks. It offers affiliates “Always Higher” rates, a barrage of airdrops, special token allocations, fast & reliable payouts, dedicated support, and tailor-made events, competitions, and networking opportunities.

User Experience on Zoomex

When we looked into Zoomex’s user experience, we found that users appreciate the ease of registration. The absence of a complicated KYC process is particularly popular among them. Additionally, users value the ease and speed with which they can deposit and withdraw funds.

However, there have been concerns about the airdrops and trading competitions, particularly their duration and distribution. We believe the platform needs to improve how it explains the rules and deadlines, as these campaigns tend to attract significant attention.

Zoomex Mobile App

Zoomex’s mobile app is available for Apple and Android devices, and it can be downloaded from their respective app stores. The exchange also supports QR code login on the web version and has added Google and Apple third-party login options for convenience and speed.

When we tested the app, we found it to be impressively smooth. The visuals were clean, and even beginners would find it easy to navigate.

The Zoomex mobile app enables users to do everything they can on the desktop version, from trading crypto and depositing funds to copy trading and participating in reward programs and much more. Additionally, you can make the experience smoother and easier on the eyes with the night and day switch mode option.

In its latest upgrade, the exchange introduced a new display for its main information: spot assets and profit and loss details for different assets, making them easily accessible and viewable. Users can also customize their trading experience by organizing and managing their favorite trading pairs.

Overall, the interface is quite smooth, though there are a few snags here and there. However, the platform continuously improves these aspects with regular updates.

Is Zoomex Safe?

One thing crypto has in abundance, just like its opportunities, is risks, making it crucial that the exchange where you deposit your hard-earned money and trade is safe and offers protection. So, does Zoomex provide that? Let’s find out:

Firstly, using a crypto exchange that complies with regulatory standards is essential for ensuring legal recourse in case of disputes. Zoomex is currently licensed under the Canada MSB license issued by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

This certification means that Zoomex adheres to stringent security measures and regulatory standards. Beyond operating as a centralized exchange (CEX), Zoomex also offers a decentralized exchange (DEX), which further ensures that all transactions comply with existing regulations.

In addition to offering a secure and trustworthy trading environment, the exchange maintains an impeccable security record with no incidents reported to date.

While it’s generally advised to avoid storing your assets on a centralized exchange (CEX) for long periods, if you choose to keep them on Zoomex, your assets are protected through a multi-signature cold/hot wallet system. The exchange also conducts regular security checks and periodically upgrades its asset system to safeguard against external attacks. In short, if you’re asking, ‘Is Zoomex legit?’, worry not—it certainly is.

Zoomex Customer Support & Service

While evaluating Zoomex’s customer service, we discovered that the platform is accessible through email and a 24/7 live chat. Additionally, users can reach out via social media channels such as Twitter, Telegram, and Discord.

Professional assistance is readily available for any queries, but for general questions, users can turn to the platform’s Help Center. The exchange supports eight languages to accommodate its diverse client base.

Zoomex takes pride in its customer-centric approach and continuously enhances the platform based on feedback from surveys and reports. For example, the platform recently made several updates to its app in response to customer suggestions. Such responsiveness can really set an exchange apart in the crypto world, where customer service is often found lacking.

Getting Started With Zoomex

Now that we know all Zoomex has to offer you let’s go through the account opening process:

Step 1: Visit the official Zoomex website.

Step 2: Click on the sign-up button.

Step 3: Create an account using your email or phone number.

Step 4: After entering the required information, input the verification code sent to you.

Step 5: You’ve now successfully registered an account on Zoomex!

Follow these steps if you want to create an account on the app:

Step 1: Download and install the Zoomex app from your app store.

Step 2: Once the app is open, navigate to the bottom right corner and select ‘Assets.’

Step 3: Proceed to register by using your email address or mobile number.

Step 4: Enter your email address or mobile number, country code, and password, then select ‘Continue.’

Step 5: Input the verification code sent to your email or mobile, and you’re all set up!

Conclusion

As this Zoomex spot crypto exchange review shows, getting started with the exchange is straightforward. By eliminating the need for KYC, Zoomex allows its users to protect their privacy and enhance their security. The benefits of anonymity are significant, allowing users to trade a wide variety of coins on both spot and futures markets.

Beyond copy trading, Zoomex offers a pretty attractive crypto trading platform with features like inverse perpetual, Trade Arena, a gaming center, multiple reward options, and an affiliate program.

So, if you’re looking to have fun with crypto and take advantage of its vast opportunities via crypto derivatives, consider signing up with Zoomex today!

Visit Zoomex

FAQs

What is the Zoomex trading fee?

For spot trading, Zoomex charges a 0.1% maker and taker fee. In futures trading, the maker fee is 0.02%, and the taker fee is 0.1%.

Where is Zoomex located?

Zoomex is located in Singapore and operates in over 30 countries. 

What is Zoomex?

Zoomex is a cryptocurrency exchange platform that supports a wide range of crypto assets for spot and futures trading. This KYC-free platform comes with features like copy trading and referral programs.

References

• Futures Contract (Investor.Gov)
• Know Your Client (KYC): What It Means, Compliance Requirements (Investopedia)
• Funding Rates (Coinglass)
• What is a Spread? (Robinhood)
• What is a Centralized Crypto Exchange (Ledger)