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Fameex Exchange Review: Features & Pros & Cons For 2024

Fameex Exchange Review: Features & Pros & Cons For 2024

I Want to Talk About the FameEX Exchange, a cryptocurrency trading platform that will be analyzed in this article.

It will also look at its salient parts, which include the fact that the fees are based on different levels and it has advanced trading tools and security measures.

Knowing what FameEX offers, whether one is a novice or veteran, would undoubtedly go a long way in determining whether to use it as an exchange for your needs.

Introduction

FameEX has grown and become recognized globally as the leading place for derivatives trading with cross-platform tools that offer an extensive range of spot and derivative trading products.

They include spot, grid, margin, futures, and options trading for cryptocurrencies.

Fameex Exchange

Users can flexibly trade and store their cryptocurrencies via an efficient and stable matching system while using other AI-recommended order placement, online futures calculator, grid-trading bots, and other platform assistance tools.

March 2023 statistics show that FameEX had served 600,000 active users in Southeast Asia, Australia, Canada, and other countries/regions.

FameEX always strives to offer safe, reliable, user-friendly, prompt enough impartiality and transparency when delivering its services worldwide.

The company’s main principles tend towards minimizing risks associated with investing in securities market instruments (SMIs), maintaining fair competition principles, and upholding the principles of ‘Smart Trading for Easy Gains.’

FameEX Profile

Company NameFameex Exchange
CategoriesCryptocurrency Exchanges
Website https://www.fameex.com/en-US/
Year Founded2020
HeadquartersFameEX is based in Australia.
Deposit FeeFree
Withdraw Fee0.0004 BTC
Mobile SupportYes
Spot Taker Fee0.10%
Maker Fee0.10%

How to Sign Up on FameEX Exchange?

To start on FameEX Exchange, follow these steps:

Access the FameEX website: Go to the official FameEX page.

Click on “Sign Up”: Look for the sign-up button on the main page.

Click on "Sign Up": Look for the sign-up button on the main page.

Enter your details: Provide your email address and create a solid password.

Verify your email: Check your inbox for a verification email, and click the link provided.

Complete KYC (optional): Depending on your location, you may have to go through the Know Your Customer (KYC) process completely.

Start trading: You can deposit funds and begin to trade once you are verified.

FameEX Exchange Fees

FameEX Fees

FameEX employs a tiered fee system based on membership levels, ranging from VIP 0 to VIP 9.

Spot trading fees are between -0.01% and 0.1%, while futures trading fees for makers range from -0.01% through 0.02%, and takers incur between 0.01% and 0.04%.

This means that these fee rates depend on your trading volume over the last 30 days, making it one of the cheaper platforms.

FameEX Withdrawal Fees

For BTC withdrawals with FameEX, there is a withdrawal fee of 0.0004 BTC, with a minimum withdrawal amount of 0.001 BTC.

Depending on the cryptocurrency being withdrawn, withdrawal fees cover transaction processing costs and network fees; hence, users should consider these issues when choosing an exchange to avoid unnecessary expenses.

Deposit Methods and US Investors

Given U.S. regulations, FameEX cannot extend services to U.S.-based individuals.

Deposit Methods

FameEX offers multiple deposit options, such as credit cards, debit cards, and Apple Pay, thus making it easy for beginners to buy cryptocurrencies online at favorable prices. This has also helped elevate their status as a beginner’s paradise for crypto traders.”

Cryptocurrencies That FameEX Supports

The listing system of FameEX is meticulous, which has led to the current list of 78+ cryptocurrencies.

Such are some of the most recognized coins for BTC, ETH, ADA, DOT, SOL, USDT, MATIC, AVAX, DOGE, SHIB, etc.

How Many Types of Trading Options Available

There are three types of options trading on FameEX. These are based on users making predictions as to the future direction of an asset price.

Call Options: Here, users think that the price of an underlying asset will go up in a pre-determined trading period.

Put Options: In this case, the users anticipate that a selected asset’s price will decrease within a given period.

Range Options: This is when you want to see no change (ideal state) for an underlying asset during the specified trade duration.

Who Found FameEX?

FameEX, a global platform established in 2018, was founded by Mr. Lee BoonGin.

As the CEO of FameEX, Mr. Lee BoonGi is a Singaporean entrepreneur with a Bachelor’s degree in Computer Engineering from the National University of Singapore.

He was responsible for developing the derivatives segment at the Singapore Mercantile Exchange.

FameEX Exchange Features

Fee Structure with Tiers

The Famex tiered fee system uses a structure based on trading volumes and membership tiers. It is also the only platform that offers competitive rates for spot and futures trading.

Security Measures

This platform enhances security through features such as cold storage for assets, two-factor authentication (2FA), and regular security audits.

Sophisticated Trading Tools

For beginners and experienced traders, FameEX offers real-time market data, customizable charts, and different order types to suit their needs.

User-Friendly Interface

Users are introduced to an intuitive design that they can use effectively even if they are novices in this area, while it still gives expert functionality needed by serious traders.

Supporting Different Assets

This exchange makes it possible to trade multiple assets from one place since FameEX supports many cryptocurrencies.

FameEX Exchange Android & IOS Mobile App

FameEX Exchange Android & IOS Mobile App

FameEX has introduced mobile support that is compatible with iOS and Android devices while they are traveling for its users’ convenience.

With this novel feature, people can now manage their accounts, trace their investments, and make trades without difficulties from their phones.

As a result, they always stay connected to their portfolios irrespective of their geographical locations, thus making it more convenient for them.

FameEX Affiliate Program

FameEX Affiliate Program

FameEX has just launched its referral program, which allows users to make money by introducing the platform to their friends.

The commission you can earn as a reward for being the referrer is 60% of their trading fees.

The amount of the commission is obtained by multiplying the invitees’ trading volumes in spot or futures markets by their respective exchange rate and trade fee, respectively.

These commissions are calculated hourly and transferred automatically to your spot account.

What countries and regions are (or are not) supported by the FameEX Platform?

FameEX currently provides services to users across most countries and regions globally.

However, certain services may be restricted or unavailable in some areas, as outlined in FameEX’s Terms.

Is FameEX legit?

The lack of verifiable financial licenses is a major red flag for FameEX. When it operates without proper authorization, the platform’s genuineness and commitment to financial regulations are questioned.

Moreover, user testimonials on Trustpilot show withdrawal issues, high balance restrictions, and suspicions of manipulating trade volumes.

Some users have had their deposits successfully credited, while others brand FameEX a scam.

It is always important to be careful and conduct extensive research before investing in any platform.

FameEX Customer Support

FameEX Customer Support

The only way to contact FameFX is through the below emails based on the type of inquiry:

Bug reports: Safe@mail.fameex.info

Business inquiries: Business@mail.fameex.info

Customer service: Service@mail.fameex.info

As far as anonymity is concerned, it is best exemplified by this. The company has not mentioned any alternative means of contacting them on their website.

Not even a single office address or telephone number for emergency issues.

Usually, there would be an online chat option for fast response time from the support team, but that also doesn’t exist here.

Scammers like this prefer to hide behind emails because they don’t want anyone bothering them and do not care about answering your emails unless they need something from you.

Security

The Fameex platform wants to create a secure, reliable, easy, quick, and open digital currency exchange service for web and mobile applications.

It implements various measures like multi-national hierarchical server management, dual authentication by KYC + OCR, and 24-7 financial risk control to ensure user transaction safety.

FameEX uses the most advanced encryption technology in the industry to protect users’ funds.

The platform features a third-generation turbo matching system, cutting-edge technical architecture, and four-layer ladder encryption protection technology.

All these measures ensure that every aspect of on-chain storage and on-chain/off-chain security remains impervious to any technical threat.

FameEX Alternative Exchanges

Binance

It is one of the biggest global exchanges, offering various cryptocurrencies, advanced trading tools, and low prices.

KuCoin

FameEX  Alternative Exchange KuCoin

KuCoin is famous for its many altcoins; it has a user-friendly interface, tight security, and numerous ways of earning.

OKX

The platform deals with futures and spot trading; it is more concerned about security, a powerful mobile app, and an inclusive set of trade features.

Bybit

FameEX  Alternative Exchange Bybit

This exchange mainly focuses on derivatives most suited for future trading with significant leverages and modernized trading instruments.

Gate.io

Gate.io enables you to engage in spot, margin, and futures trading. It also offers different financial products because the exchange supports many cryptocurrencies.

Final Verdict

To sum it up, what sets FameEX apart is its multi-purpose and user-friendly way of converting digital currencies suitable for experts and newcomers to the market.

With a competitive fee system based on ranks, reasonable security measures, and provision of different types of virtual currency, this crypto exchange provides its customers with a full-fledged trading environment.

Moreover, mobile applications are also available, which makes the platform even more attractive to users.

The said apps allow room for flexibility while giving a chance for rewards through referral programs.

Whether you are an amateur in cryptocurrencies or want to increase the spectrum of your trading methods, this is a reliable option to go by.

Larry Peter is a cryptocurrency exchange expert having over 8 years of experience. He entered the scene in the early days of Bitcoin & has quickly become known has a respected voice in the crypto community. New and experienced traders can count on Larry and his dead-on reviews and analysis to help them understand that which may be too complex to comprehend. He has been featured in major crypto outlets and hold talks in popular blockchain conferences. As always, Larry is dedicated to providing clear and transparent information to inspire the success of others in the fast-paced world of digital currency.