How to trade on EXMO

EXMO is one of the leading cryptocurrency trading platforms in Eastern Europe, where users trade both cryptocurrencies and fiat. The headquarters of the exchange is located in Estonia. 

The crypto exchange offers users a simple interface and a variety of options for depositing/withdrawing fiat currencies: VISA, Mastercard, SEPA, Wire Transfer, Payeer, Advcash, and Qiwi.

More than 2 million users are registered on the EXMO cryptocurrency exchange, and the number of active traders exceeds 20,000. The reason for such popularity was the simplicity and convenience of working with the exchange: after registration, it is not necessary to pass KYC to trade on the platform. Making investments and trading crypto assets available to every user in the world is EXMO’s top priority.

The History of EXMO

The starting point was the ExMoney cryptocurrency exchanger, which was founded by entrepreneurs from the CIS — Pavel Lerner and Ivan Petukhovsky. The name of the exchanger is an acronym for exchange and money.

In 2013, few services provided cryptocurrency exchange services, especially in the CIS. This became the main driver of ExMoney’s growth, as a result of which the company expanded and the founders registered a new trading platform in the UK in 2014  — EXMO. They decided to keep the name similar, removing only the last three characters, but the meaning remained the same. 

The EXMO platform began to gain popularity in 2015, becoming one of the top ten crypto exchanges in Eastern Europe, and retains a high rating to this day. In 2017, the BTC Awards CIS recognized EXMO as the leading crypto exchange of the year, and the number of platform users exceeded 1 million for the first time: an increase of more than 250% in one year.

But in the same year, the cryptocurrency exchange faced a wave of negativity due to the fact that the support service could not cope with the influx of users’ tickets. The reason was the rapid growth in the popularity of cryptocurrencies and, as a result, the demand for crypto exchange services. The crypto exchange was unjustifiably accused of fraud due to the long processing time of tickets.

Since then, the support staff has been increased more than fourfold, and the ticket processing time, according to representatives of the exchange, is 15 minutes on average.

In 2019, the exchange team issued its own EXMO Coin (EXM) token and conducted an IEO on its own platform. The EXM token provides users with various bonuses:

• Discounts on trading fees and discounts on margin loans
• Access to the IEO platform and discounts on tokensales
• VIP support
• Increased rates for the affiliate program

The crypto exchange currently has a daily trading volume of $49,005,317 and offers its users 192 cryptocurrency pairs for trading on the platform, including both crypto and fiat currencies. EXMO’s offices are located in London, Istanbul, Barcelona, Kyiv, and Moscow.

EXMO Crypto Exchange Interface

The EXMO exchange provides basic functions for crypto trading, which makes the platform accessible to beginners. The interface has a minimalistic design: it is not overloaded with unnecessary elements, but there are all the necessary functions for professionals to trade cryptocurrencies.

The interface can be customized by switching between night and day mode and changing the grid type. And there are also sound notifications that are triggered when orders are executed.

Market, limit and stop orders are available on the EXMO exchange – this is enough for most trading and investment strategies, whether for beginners or even seasoned traders.

The exchange supports both spot and margin trading with leverage, as well as a quick purchase of cryptocurrencies through a fiat gateway — this is the simplest way to top up your account.

EXMO Crypto Exchange Features

Staking

In addition to trading, EXMO supports staking with a floating interest rate. Staking is somewhat similar to deposits, only users do not transfer their cryptocurrency to third parties, but block it in a smart contract while retaining the right of ownership. Centralized exchanges like EXMO, Binance, and OKX act as staking providers — intermediaries between users and smart contracts. 

The advantage of this approach is fees and convenience. In addition, funds can be withdrawn at any time, unlike self-staking in a wallet: coins are blocked for 2-3 weeks after a request to unlock assets is made.

Staking of four assets is available on EXMO: EXMO Coin (EXM), Cosmos (ATOM), Polkadot (DOT), and Tezos (XTZ). The yield varies depending on the amount of EXM on the balance: the larger it is, the higher the accrued interest.

There are three staking packages available:

• Basic Staking — no EXM required on the balance
• Standard Staking — at least 30,000 EXM on the balance
• Advanced Staking — at least 40,000 EXM on the balance

For example, if there is 0 EXM on the user’s balance, then the ATOM staking yield will be 9% per annum, and if they hold 40,000 EXM — 13%.

Margin trading

For experienced traders, leverage of up to 30x and 36 contracts are available, including BTC/USD, ETH/USD, EXM/USD, ETH/BTC, XRP/BTC, and others. On EXMO, the taker fee is 0.05%, and the maker fee is 0%, regardless of the subscription level.

Fiat Gateway

Provides instant purchase of crypto assets for fiat, including EUR, PLN, RUB, and UAH directly from the EXMO provider in just a couple of clicks. Choose a currency and a crypto asset, enter the amount, and pay for the purchase — that’s it. The feature is available only after passing the account verification procedure.  

Registration on EXMO

The functionality of the platform is available immediately after simple registration on the official EXMO website. To register an account, it is enough for the user to specify a login, email, and phone number and set a password. The process will take less than two minutes. Then you can top up your account, trade, and stake crypto assets. 

But the deposit and withdrawal of funds in fiat currency, as well as the purchase through the fiat gateway is available only after full identity verification.

Verification on EXMO

As soon as the user passes the standard verification procedure (KYC), access to all the features of the platform is granted. To verify an account the following steps are required:

• Upload a scanned passport, ID card, or driver’s license
• Take a selfie with a document
• Confirm the residential address by sending a bank statement, utility bill, court or tax document
• Specify the card details to complete the verification procedure and take a photo of it

Documents are most often checked within a day if the platform is not overwhelmed with applications. If more than a day has passed, but the account is still not verified, it would be wise to contact support in order to speed up the process.

Tariffs plans of the EXMO cryptocurrency exchange

After the user passes the registration and verification procedure, tariffs do not apply to his account, but discounts do not apply either. EXMO Exchange offers 4 tariff plans:

• Basic
• Standard
• Advanced
• Professional

The subscription is paid for in the exchange’s native EXM tokens, which are then burned once a quarter, which reduces the volume of tokens and stimulates the exchange rate growth.  

Comparison of tariff plans

Pros and cons of the EXMO crypto exchange

Pros:

• A time-tested cryptocurrency exchange: EXMO has been providing services to traders since 2014.
• Simple and minimalistic platform interface.
• 192 trading pairs.
• Support for 6 fiat currencies: EUR, GBP, RUB, UAH, PLN, KZT.
• Availability of margin trading with leverage up to 30x and staking.
• Access to trading functionality without KYC, which ensures anonymity.
• Flexible tariff plans that provide discounts on fees.
• There are many payment methods available: VISA, Mastercard, SEPA transfers, Wire Transfer, Payeer, Advcash, QIWI wallets, etc.
• Round-the-clock support service that promptly responds to users.
• Reliability and security: the EXMO exchange has never been hacked for 8 years.
• An affiliate program is available.
• Advanced account protection with two-factor authentication (2FA).
• Cashback program and discounts up to 100% on trading fees.

Cons:

• The platform is not available for traders from the USA.
• The exchange is not regulated by major authorities.
• There is no call center.
• Modest functionality and a small number of products compared to competitors.

What Cryptorobotics tools are available on the EXMO exchange?

Cryptorobotics is an easy-to-use service for automated crypto trading on different platforms. It supports trading robots, autofollowing, copy trading, and signal trading.

Users have access to 4 tariff plans ranging from $0 to $79 per month with a seven-day trial period. Cryptorobotics does not have access to funds on user accounts and guarantees security.

EXMO Trading Bots

Robots automatically search for entry/exit points based on a predefined strategy, saving the trader from mundane tasks. Trading bots trade 24/7 without the participation of a trader and control the risks themselves, excluding the human factor and protecting the deposit from mistakes. Cyberbot and Optimus trading bots for the EXMO exchange are available in the Cryptorobotics service.

Ladder orders (for grid strategy implementation)

The option provides tools for implementing a grid strategy: you can set stop losses and take profits, ladder smart orders. Ladder orders are available for both spot and margin markets, as well as for all types of orders available on EXMO (limit, market, stop orders).

Smart Orders

EXMO Exchange provides a limited list of order types: limit, market, and stop orders. Cryptorobotics provides users with smart orders: stop loss, take profit, and trailing orders, which are automatically rearranged when the cryptocurrency exchange rate moves. Moreover, you can set both stop loss and take profit at the same time.

Trading from the chart (manual trading)

The tool provides traders with flexible chart setup, technical analysis, and recommendations for buying/selling assets based on the data of trading indicators. Alerts are also available that notify the user that the price reaches the specified value or an order is triggered. 

How to start using Cryptorobotics on the EXMO cryptocurrency exchange

After creating an account on Cryptorobotics, in addition to the functionality of the EXMO exchange, you will have access to the advanced features of the service, which will help automate trading and minimize risks at the same time. To use the Cryptorobotics functionality, follow 4 simple steps:

• Create an account on Cryptorobotics and choose a tariff plan.
• Register on the EXMO exchange official website, complete identity verification, and top up your account in a convenient way.
• Link the exchange account to the Cryptorobotics platform with the API key.
• Set up the tools and start trading.

After completing all the steps, you will gain access to Cryptorobotics tools for manual and algotrading, which will expand your trading opportunities.

Summary

The EXMO crypto exchange does not offer an extensive ecosystem, but it provides everything necessary for both beginners and advanced traders. EXMO is customer-focused and strives to make trading as convenient and accessible as possible for each user.

If you lack something in the EXMO exchange, the Cryptorobotics service will easily make up for it. It’s up to you to decide which crypto exchange is best suited for trading in 2023: the simplest one or the one with an expanded list of assets and features. In any case, Cryptorobotics will provide you with automated trading tools!