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FMFW.io crypto exchange review and features

FMFW.io crypto exchange review and features

  • 27 March 2022
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FMFW.io is a crypto trading platform founded in 2018 and headquartered in Saint Kitts and Nevis. The platform was formerly known as the Bitcoin.com Exchange, but on September 29, 2021, they changed names and rebranded themselves to fmfw.io, which is short for “Free the Money, Free the World.” FMFW.io crypto exchange offers you the service to buy, sell and trade more than 200 digital assets safely and quickly.

FMFW.io crypto exchange Services & Features

FMFW.io crypto exchange offers many services and features to its users. It provides you with analytics so you can constantly check the prices of the coins you have invested in, while also providing you with a social feed so you can keep up with the news through a simple, straightforward, and easy-to-use interface.

Additionally, it offers trading competitions that you can join, margin trading, IEO, market overview as well as the ability to buy crypto with fiat, which is important if you are just starting your crypto trading journey.

FMFW.io crypto exchange: Buy and sell crypto

As mentioned above, you can buy, sell and trade cryptocurrencies on FMFW.io. You can choose from more than 200 digital assets supported on the platform and start trading securely right away.

FMFW.io crypto exchange spot exchange

First, let’s say what cash exchange is. Exchanging one currency for another while the delivery date is as early as possible is a current market price. What is special about FMFW.io crypto exchange is not that they offer a spot exchange, but the feature of stop-loss.

Stop-loss is a method that helps you by allowing you to limit your downside risk while trading. This allows you to specify how low the price can get before spot loss activates and sells your asset, saving you from further losses in value. To access spot trading on FMFW.io, all you have to do is transfer funds that you already have in your wallet to the spot account.

FMFW.io crypto exchange futures trading

When it comes to futures trading, it is categorized as a financial derivative that draws its value as an underlying asset. Futures trading allows you to buy an underlying cryptocurrency without having to allocate all the capital required.

If you decide to open a futures position, you only have to deposit part of the market value. Consequently, this is a great option for traders to combat the positions they already have without having to buy the underlying crypto.

Futures prices are determined depending on the price at which the underlying cryptocurrency is trading on the spot market and the futures premium.

Futures premiums can be either positive or negative. A negative value means the futures price is lower than the spot price, while a positive value means the price is higher. This feature fluctuates based on the rise and fall in supply and demand for that futures asset.

FMFW.io crypto exchange margin trading

FMFW.io crypto exchange also offers margin trading on their platform. Margin trading gives you the ability to borrow the assets you want to trade by opening long or short positions on multiple different cryptos with up to 10x leverage.

Available with up to 10x leverage on:

BCH/USDT, BTC/USDT, ETH/USDT, XRP/USDT, ETH/BTC, BCH/BTC, XRP/BTC, TRX/USDT, LTC/USDT, EOS/USDT, XMR/USDT, ETC/USDT, ADA/ USDT, TRX/BTC, LTC/BTC, ETC/BTC, ADA/BTC, XMR/BTC, EOS/BTC

Available with up to 5x leverage on:

ZEC/USDT, DASH/USDT, VET/USDT, DOGE/USDT, XLM/USDT, ZEC/BTC, DASH/BTC, XLM/BTC, DOGE/BTC, VET/BTC

FMFW.io IEO

Initial Exchange Offering, also known as IEO for short, is a cryptocurrency exchange that monitors sales of a specific token. IEO offers several advantages and benefits for blockchain projects. With IEO, these projects go through a thorough evaluation process and gain more exposure for their crowdfunding.

Here we will mention some such blockchain projects that have partnered with FMFW.io crypto exchange:

First, we have Ideology.io, a Dubai-based blockchain project that has attracted a lot of attention lately by focusing on completely restructuring digital entrepreneurship on blockchain technology.

Supporting the leading cryptocurrencies, Ideology helps entrepreneurs, project managers, and freelancers with a complete platform on which to realize all their initiatives.

Next, we have the Atarichain. Atari’s goal is to achieve decentralization in both the video game industry and the entertainment industry. As more and more products are exchanged digitally worldwide, the need for a secure and reliable platform is great.

Atari’s goal is to strengthen the trend of in-game trading by providing users with the necessary platform.

FMFW.io supported coins

FMFW.io crypto exchange supports many different coins. As of today, the following cryptocurrencies are supported: Bitcoin, Ethereum, Cardano, XRP, Polygon, Bitcoin Cash, EOS, TRON, Zcash, Stellar, Monero, Litecoin, Binance Coin, NEO, Algorand, FTX Token, Basic Attention Token, VeChain, Polkadot, Dash, Chainlink, Qtum, Chiliz, Enjin Coin, Decentraland and more.

FMFW.io deposits and withdrawals

FMFW.io, like many other similar platforms, allows you to deposit cryptocurrencies on the platform. Apart from that, FMFW.io also gives you the option to buy and sell crypto using your debit and credit cards.

One thing to note is that deposits via wire transfer are not supported. It is important to mention that FMFW.io accepts fiat currency deposits, which means it is an “entry-level exchange” where new users can start their crypto trading adventure.

FMFW.io fees

FMFW.io does not have any fees of its own, but when you go through the process of withdrawing crypto from your wallet, which resides on the platform, you only have to pay the network fees. In doing so, FMFW.io focuses on high transaction speed, and the fees are not based on the withdrawal amount while automatically updating on the market status.

FMFW.io methods

When it comes to depositing methods, you have two options: debit or credit card. The platform does not support bank transfers.

Note that if you accidentally enter the address of a different currency or an unsupported wallet, you will receive an error message warning you to change the address or a wallet. Each currency has its specific wallet and blockchain.

So please double-check everything when making a withdrawal as the platform will not always be able to detect the wrong address. If you send money to the wrong address or wallet, FMFW.io clearly states that they cannot reverse the transaction and you may lose your money forever.

FMFW.io crypto exchange limits

Withdrawal limits on FMFW.io are as follows:

Individual: $25,000 daily / $100,000 monthly

Individual Pro: 100 BTC daily / No monthly limits

FMFW.io trading fees

FMFW.io crypto exchange uses a trading fee model called “Maker-Taker”. In doing so, they focus on increasing liquidity, motivating new market makers, and narrowing the spread in the markets.

In this model, the ‘taker’ is a trader who places an order that removes liquidity from the book and which immediately matches an existing order on the book; the “taker” has to pay a fee for this trade.

The “maker” represents a trader who provides liquidity by placing a limit order below the best ask price to buy while simultaneously setting the best bid price to sell.

FMFW.io implements a dynamic fee structure, which means that the more you trade, the fewer fees you pay.

Spot Trading Fees

When it comes to spotting trading fees on the FMFW.io crypto exchange, when a position is liquidated, the fee is 0.5% of the value of the position and is charged when trading forex.

Margin Trading Fees

When you have a margin position open, you have to pay a daily interest rate. This fee is necessary regardless of whether you go long or short on a particular asset.

These interest payments occur three times a day: at 00:00 UTC, at 8:00 UTC, and 16:00 UTC.

Futures Trading Fees

In the case of futures trading fees, they are the same as spot trading fees. The fee is 0.5% of the position value and is charged in forex trading.

Does FMFW.io require KYC?

When it comes to KYC, FMFW.io does not have a mandatory KYC. That being said, FMFW.io may request your personal information when necessary. This means there is a risk assessment system that can detect suspicious activity and if the system flags the transaction it will be suspended until further notice and you will need to pass AML/KYC verification before your trade can go ahead. The system has proven its effectiveness in catching scammers, money launderers, and other criminals.

Countries supported by FMFW.io

Here is the list of countries supported on the FMFW.io crypto exchange:

Australia, Austria, Belgium, Brazil, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Iceland, Ireland, Italy, Japan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Mexico, Netherlands, Norway, Poland, Portugal, Romania, Russia, Slovakia, Slovenia, South Africa, South Korea, Spain, Sweden, United Kingdom

Are US investors allowed on FMFW.io?

Unfortunately, US investors are not allowed on FMFW.io and have to opt for other platforms that support them.

How do I get started with FMFW.io? (Steps such as registration, activation, verification, etc.)

Getting started with FMFW.io couldn’t be easier or quicker. There are a few steps you need to complete that will take no more than 5 to 10 minutes.

First, go to the platform and click on Login/Signup which is located in the top right corner.

Second, fill out the form that is presented to you, things like first and last name, mobile phone, email id, and password. This is also where you enter a referral code if you have one.

Third, you have to wait for the activation email when you fill out and submit the form. When the email arrives, you need to click on the “Confirm Email” link.

Finally, after completing everything and activating your account, you will be given a 6-digit one-time password (OTP) that you will need to enter after signing up.

Does FMFW.io have a native token?

According to our research, to date, we have not found any valid information about whether there is a native token on the FMFW.io crypto exchange.

Is FMFW.io Legit and Safe?

FMFW.io takes the security and protection of its users very seriously. Information will store in cold storage, which effectively protects it from attacks. As a user, you are also provided with the best tools to protect your account as much as possible. There is 2-factor authentication and it is recommended to use a strong password that you change frequently.

Conclusion

In summary, considering all the different platforms to choose from, FMFW.io is a solid option if you are just starting in crypto trading. With its straightforward and user-friendly interface, trading should not be a problem.

All in all, if you decide to give FMFW.io crypto exchange a shot, you certainly won’t regret it, and you never can know that you might find yourself making a solid profit from it.


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One response to “FMFW.io crypto exchange review and features”

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