Trading Fees




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Hong Kong



US Clients




Security Score


Binfinex is one those exchanges that has taken significant share of the entire market. Consistently visible among top exchanges in terms of daily trading volume, Bitfinex have carved themselves a solid niche literally unmatched by the majority of rivals. Bitfinex provides services to both institutional and private customers and offers a variety of coins and pairs to trade. On top of that they have one of the most advanced trading platforms available on the market capable of processing different order types.  The sheer amount of trading orders supported by the platform is impressive to say the least. Add to this advanced charting package and lightning-fast execution of trades and it gets hard not to notice that Bitfinex exchange aims to be the premiere destination for seasoned cryptocurrency traders across the globe.

Bitfinex is a Hong Kong based trading platform that was founded in 2012 by Raphael Nicolle. The exchange is both owned and operated by iFinex, Inc. and has managed to work its way to the top of the charts in terms of trading volumes and user activity on the platform. Bitfinex exchange is very popular across the globe. It seems to have garnered significant attention and user base in US but recently for reasons unknown the company decided to cease providing services to persons of US citizenship.

Now let’s talk numbers a bit. As of now, exchange has reached an average of $2 billion worth of trades on the daily basis. In terms of BTC/USD volumes have been reaching $600 daily, constituting the around 6.5% of total BTC/USD volume.  As such, the company needs no additional introduction – Bitfinex is by far one of the biggest exchanges currently operational on the market.

Account Verification

Bitfinex acts in full compliance with KYC and AML policies which dictates adherence to complex account verification procedures. Aside from traditional ID verification, the company may ask the user to provide additional documents in case of opening corporate account (institutional services). On completion of first verification stage, you will be asked to submit signed bank statement and a signed statement confirming the authenticity of documents and information provided.

This may scare off those traders who are not used to such complex verification procedures but this is a common practice for all regulated exchanges, though the complexity of procedure and amount of documents provided may vary across different exchanges. Currently, Bitfinex accepts only US dollars from fiat currencies. They also accept TetherUSD and the following digital currencies:

  • Bitcoin
  • Ether
  • EtherClassic
  • ZCash
  • Monero
  • Litecoin

Wire transfers are subjected to fees of 0.1 percent of transaction amount with the minimum fee of 20 dollars. Express wire however a charged with higher fees of 1 percent.

Bitfinex Trading Platform

The trading platform is very sophisticated, and it offers a lot of trading options. The offered types of orders are:


  • Limit
  • Market
  • Stop
  • Trailing stop
  • Fill or kill
  • One cancels other (OCO)
  • Hidden order
  • Post-only limit order

Due to the high volume of trades and a good liquidity, bid/ask and order count is resolved in real time, allowing users to choose the best time to place an order.

The exchange also offers margin trading with 3 to 1 leverage, meaning the users can reduce margin requirements and thus need only 33% of capital necessary for opening position. But the mechanism of leveraging user’s account is quite different from Forex where capital is provided by the company. Here, margin loans can be obtained through lending market where users can lend the capital to each other. In return, the lender receives percentage on the daily basis.

Bitfinex Fees

The structure of fees on Bitfinex is a bit different from those found on average brokers. Fees are structured according to contribution that makers and takers make to  market liquidity. Trading fees start at 0.1 percent for the maker and 0.2 percent for the taker. Higher fees are levied on taker because is the taker who removes the liquidity out of the platform. As with the majority of other brokers, fees are structured according to trading volume. Fees remain unchanged until reaching trading volume of 500,000 USD, a requirement quite high comparison to what other exchanges and brokers set in their trading-volume related fee structure.

Withdrawals and Deposits are free of charge unless  making transaction via bank wire. Fees charged upon wires are 0.1% of the amount with a minimum fee of 20 USD. Express bank wire transfers which are processed within 24 hours on business days cost 1 percent of the sum with a minimum fee of 20 dollars.

Deposits and Withdrawals

Depositing funds to Bitfinex account is fairly easy. Please note that depositing with fiat money requires full account verification. Bitfinex supports Credit/Debit card deposits, Bank Wire transfers and Express Wires (wire transfers coming within 24 business hours)

In order to deposit with digital currency simply Choose the currency you wish to deposit (e.g. BTC), generate an address in the wallet you wish to send to and input that address as the receiving address.

Is Bitfinex safe?

Bitfinex has gained the reputation as one of the biggest players in the industry, which sadly never comes without a price. Centralized exchanges like Bitfinex have a history of attracting individuals or closely affiliated groups of hackers and unfortunately a misfortune of such kind had befallen upon Bitfinex several times in the past. The first hack took place in October 2015 resulting in a seizure of 1500 Bitcoins from an exchange-controlled wallet. The amount was quickly reimbursed by the platform. Next accident however proved to be much more disastrous for the exchange. In 2016 unknown hacker managed to outmaneuver company’s security measures and took possession of around 119,000 Bitcoins which was worth approximately $72 million at the time when incident happened.

Following the incident Binfinex transferred all client funds to cold storage that uses advanced multi-signature function and distributes founds across different secure locations. Moreover, user account security was also upgraded with 2FA and U2F.

Such is the story of Bitfinex, a company which carved themselves a solid market niche . Despite history of security vulnerabilities and hacker attacks, Bitfinex still proudly stands as one of the top cryptocurrency exchanges. Whether or not you wish to deal with a company like this is totally up to you – the company’s trading technology is tailored to seasoned traders and might be found confusing for beginners – but the sheer amount of services the company provides cannot be underestimated.