Doubting to trade at CEX.IO

in palnet •  5 years ago 

Beginning the Beta

Last February, I had received an invitation to try the Beta version at CEX.IO; they said there was a Demo account I could be able to use. But when I tried it was necessary to make a deposit. I did it for around 50 USD equivalent in BTC (0.00658772). So I was able to trade in the Demo account.
I did an account at CEX.IO since last year, trying to look for ways to buy bitcoin. But I had never used it.

The Demo account

I did some trades in Demo. They gave me 100000 USD (the illusion). But I didn't really get convinced to use the platform as something I would like to take a look is my trades, if they are finish how was the enter and the exit. But it is very uncomfortable to read the information related with the order.
As we can see in the bottom only one line to read one information in an horizontal line. I checked every corner to see if there was a way to amplify it, but nothing.
Screen Shot 2019-08-19 at 4.19.53 PM.png

Trading with real money?

After some practice, even with this uncomfortable reading information, I decided to do some trade with real money, thinking I was able to use my little amount I sent.
Screen Shot 2019-08-19 at 2.19.45 PM.png

I expended some time until I realised it was necessary to transfer the btc from other account. This was other situation I found kind of confusing, as you need to manage a separate account but you don't see that in an easy way from the trading account.

So, i did my transfer. I came back to the trading account. And after some time looking for a 'good' moment to enter i realised I was not able to do. The minimum required is 0.1 btc. Oh my god. I will not risk that amount in a leverage account.

Trying to withdraw

After tried all that, I decided to withdraw my btc. Again a torture to try to find out how to do. I needed to come back the money to the other account. I did all the process indicated. But a new surprise, the minimum required to do a withdraw is 0.1 btc. What a hell are doing this kind of limitations! They want to force to trade. If you lose you will need to put more, and more. when finally you decide (if that happens) to stop and withdraw, again you will have to send more funds in order to be able to have the minimum to withdraw.
I know I have to do this boring deposit in order to withdraw my little funds in btc. But I find this is not fare to put that kind of conditions.
I am really discouraged to try any real trading at CEX.IO, even now I am trying to do again the DEMO account, but it give me no balance.
Is there someone who did, or is doing trading at CEX.IO? How was your experience?
I also read in reddit that there charge a bit commission to withdraw.
So disappointed with that kind of conditions. So, in addition to the risk of the leverage you have to face this kind of condition, not clear at all from the beginning.

The Rollover every 4 hours!

One other thing i was forgetting is the Rollover, usually the rollover is charged by day, but CEX.IO is charging the Rollover every 4 hours!!
Screen Shot 2019-08-19 at 8.52.24 AM.png

Definitely, I prefer to continue doing my trading with bitcoin and cryptos, even thought there is not a good moment to trade cryptos at all. It working better for me to sell/buy at localbitcoins for the moment, but this is another history.

Thank you for reading!

Aljif7

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