DOBI Trade Review
Chinese cryptocurrency exchange DOBI Trade is new in the trading market. However, it raised its position in high trading volume very quickly. There are very few crypto coins offered currently but the number of them increasing rapidly. The broker gives a choice of two-factor authentication those who feel secure with it. Nevertheless, to avail, all the facilities including withdrawals DOBI Trade traders need to perform a KYC first. There are several advantages and disadvantages are associated with DOBI Trade. This DOBI Trade review will manage to cover all of them side by side.
About DOBI Trade:
The trading platform provided by DOBI Trade is a web trader but it is supplied all the necessary charting and indicators needed to perform crypto trading. The broker has a solid liquidity status as it has several cryptocurrencies to offer. All the major coins are supplied and they can be traded against BTC, ETH and self-developed DOB. The broker does not charge for deposits but trading charges are applied. These are in line with what other brokers charge up to 0.3%.
Here are all the disadvantages of DOBI Trade are discussed. The broker fails to accept payments via fiat currencies. Also, bank wire transfer and a credit card are eliminated to make payments. Therefore, traders of DOBI Trade must buy Bitcoin or altcoins first and then start trading. The broker charges quite high withdrawal charges. They come across 0.5%. Many popular coins such as Ripple, Stellar, Neo, Dash are not available at this broker. Another worrying fact is that the broker fails to disclose its corporate information. The information like its owner, headquarters, etc is completely missing on the webpage. Furthermore, the cryptocurrency exchange is not at all regulated yet and many governments are trying to build a framework to regulate them. In this case, it is very much likely that any broker can turn into a potential scam broker. Sadly, there are no leverages offered. It means trading at DOBI Trade is margin free. It will definitely disappoint many traders.
Is DOBI Trade scam or legit?
DOBI trade is a Chinese cryptocurrency exchange that is not properly regulated yet. Very few cryptos are available and most popular are missing from the offerings. Withdrawals are capped at 0.5% commission and no margin trading is provided. It does not accept payments via fiat currencies. Therefore, it is a potential scam cryptocurrency broker.