EXMO — Crypto Exchange Review & User Feedback 2025: Fees, Security, and Trading Guide

EXMO is a well-known cryptocurrency exchange that began operating in 2013–2014. The platform was founded by Ivan Petukhovsky and Pavel Lerner. Initially focusing on the Eastern European market, EXMO quickly became a leader in that region. Over time, the exchange grew to over 1 million registered users worldwide, opening offices in London, Kyiv, Istanbul, and other cities. Today, EXMO’s headquarters is located in Krakow (Poland), reflecting its global ambitions.

The first thing that attracts traders to EXMO is the convenient handling of fiat currencies. The platform supports multiple national currencies, including USD, EUR, GBP, PLN, UAH, TRY, and others. The ability to top up your account directly with bank cards and work with familiar fiat currencies ensured EXMO’s rapid popularity in its early stages. Currently, there are over 155 trading pairs on the exchange, including both crypto-crypto and crypto-fiat pairs. The asset range continues to expand.

A distinctive feature of EXMO is its own payment token, EXMO Coin (EXM). It is issued under the ERC-20 standard with a limited supply of 2 billion tokens. EXM is integrated into the internal ecosystem of the exchange: token holders receive bonuses, commission discounts via Premium subscriptions, and can participate in Earn programs and staking. The exchange regularly conducts loyalty programs and burns part of the EXM tokens to maintain their value on the market.

Overall, EXMO positions itself as a universal platform for both beginners and experienced traders. It offers a simple “one-click” crypto purchase option for newcomers, as well as a full-fledged terminal with TradingView charts and various order types for pros. There are mobile apps, an API for algorithmic trading, and even an OTC service for large over-the-counter deals. Over more than 10 years of operation, EXMO has gone through periods of rapid growth and some challenges (such as increased regulation) yet has managed to retain the trust of a significant portion of the community.

Regulation and Security

Regulation is a key factor in EXMO’s reputation. The exchange is registered as a Virtual Asset Service Provider (VASP) in EU countries, notably regulated in Lithuania and Poland. Previously, EXMO operated in the UK under temporary FCA registration, but tighter requirements led to shutting down services for UK clients from October 2023. Currently, the platform is unavailable in several jurisdictions: in addition to the UK, its services are restricted for residents of the US, Canada, Japan, China, as well as Russia, Belarus, and Kazakhstan. This step is due to both local laws and the company’s own decision: in 2022, EXMO sold its business in Russia/Belarus to a separate individual and chose to focus on other markets. For most countries worldwide, EXMO remains accessible and aims to comply with international standards (AML/KYC, Travel Rule, etc.).

User security is ensured on multiple levels. First, EXMO employs cold storage practices, keeping 99% of client funds in Ledger Vault wallets insured for up to $150 million. Only about 1% of assets remain in hot wallets for operational transactions, with maximum protection measures, including anti-phishing codes and whitelisted addresses. Second, two-factor authentication (2FA) and email confirmations are mandatory to access an account and confirm transactions. The platform also offers “trusted” IP address settings and login notifications to prevent unauthorized access. All data is transmitted via an encrypted (SSL) connection, and the platform regularly undergoes security audits and penetration tests.

Despite this proactive stance, EXMO has experienced incidents. The most notable was a hot wallet hack in December 2020, when attackers managed to withdraw about 5% of the exchange’s total crypto assets. It is estimated that around $4–6 million worth of cryptocurrency was stolen, primarily BTC, XRP, USDT, ETH, and ETC. EXMO promptly reported the situation to London law enforcement and other exchanges. Fortunately, users did not incur losses – the platform was restored within a few days, and according to the company, all stolen funds were compensated. Since then, EXMO has significantly strengthened its cyber defenses: in addition to the aforementioned insurance fund, the exchange joined a collective threat response system (CERT) and obtained independent security evaluations. For example, CER.live assigned it a “CC” rating (49% out of 100%), indicating an average security level compared to other major exchanges.

The exchange’s leadership is active publicly – CEO Serhii Zhdanov and other top managers frequently communicate with the community, give interviews, and participate in livestreams, increasing transparency. Thanks to this, and adherence to regulatory norms, EXMO is part of anti-financial crime associations and follows the Travel Rule to monitor crypto transfers. Thus, security and regulatory compliance are top priorities: while no exchange can offer absolute guarantees, EXMO demonstrates a commitment to protecting user funds and data at a high level.

Advantages and Disadvantages of EXMO

Like any platform, EXMO has its pros and cons, which are important to know before you start trading.

Advantages of EXMO:

• Fiat currency support – you can deposit/withdraw USD, EUR, PLN, UAH, TRY, and other currencies directly, simplifying access for newcomers.
• User-friendly interface – there’s a quick exchange mode for one-click trades, and a more advanced terminal with charts and various order types for experienced traders.
• Low trading fees – the base 0.1% on crypto-crypto trades is highly competitive. Fees decrease as your volume grows, potentially down to ~0% for makers at higher tiers.
• Wide asset selection – over 150 crypto pairs, including popular and lesser-known coins; support for 7+ fiat currencies gives many trading pairs.
• Margin trading up to 10x – a separate platform, EXMO Margin, is available with up to 1:10 leverage on certain pairs (launched in 2021).
• Mobile app and API – full-featured iOS/Android apps and an open API for any style of trading.
• Loyalty program – the native EXM token, commission cashback, premium packages to reduce fees, and Earn products (interest-bearing deposits) create additional earning opportunities.
• Multilingual support – the site and customer service are available in various languages, including Russian, English, Polish, etc., convenient for users worldwide.

Disadvantages of EXMO:

• Limited geography – the exchange is unavailable in the US, UK, Russia, Belarus, Japan, and some other countries for regulatory reasons. Users from these regions must find alternatives.
• Relatively low liquidity – daily volumes (~$50–70 million) are significantly lower than top exchanges. Certain pairs may have a wide spread, and large orders can impact the price.
• Changing deposit/withdrawal conditions – the exchange occasionally updates its available payment methods and fees, requiring users to keep track of changes.
• Lack of futures and derivatives – the platform only supports spot and margin trading. There are no futures, options, or perpetual swaps as on Binance, Kraken, etc.
• System glitches and delays – reviews mention occasional technical issues: delayed SMS codes, brief site downtime under peak load. While not widespread, some users report them.
• Email-only support – customer support operates 24/7, but contact is mainly via email; no live chat or phone. This can be inconvenient for urgent issues.
• Strict checks on withdrawals – high security has a flip side: withdrawing large amounts requires full verification and proof of funds. Some users complain about lengthy document checks for substantial sums.

Weighing these pros and cons, EXMO is well-suited for beginners and those who value straightforward fiat deposits/withdrawals with minimal fees. However, professional traders with large volumes might find the liquidity and range of instruments insufficient, and residents of several countries are restricted from accessing the platform. We’ll examine each aspect in more detail below.

Registration and Verification on EXMO

To start using EXMO, you need to create an account and complete KYC identity verification. Registration is standard and takes just a couple of minutes: go to the official website and click “Sign Up.” Then provide an email address and a strong password, followed by confirming your email via the link. At this point, you have a basic account – you can log in to your personal dashboard.

However, to fully operate (trade, deposit, and withdraw funds), verification is required. EXMO follows strict KYC rules, so you cannot withdraw assets anonymously. Verification consists of several stages (levels), each unlocking additional features:

• Identity Verification (Basic identification) – a mandatory step. You must fill in personal details (full name, date of birth, country of residence) and upload scans of an identity document (passport, ID card, or driver’s license). A selfie with your ID is also required to confirm that a real person is registering the account. Once submitted, the documents are typically reviewed within a few hours up to 1–2 days. Successful completion unlocks crypto deposits/withdrawals and spot trading.
• Address Verification – an additional step, not mandatory for trading but necessary for expanded capabilities. You provide a document confirming your residential address (e.g., a utility bill or bank statement). Passing this level opens access to a wider range of payment systems for deposits/withdrawals, especially involving fiat.
• Bank Card Verification – required if you plan to withdraw to bank cards. You need to link your card to your account and provide its photo, sometimes with a small test payment for ownership confirmation. After approval, you can easily withdraw fiat (e.g., USD, EUR) directly to Visa/MasterCard.

EXMO is noted by experts for its quick and simple registration process. In one independent exchange review, it received a 4/5 rating for account activation speed – basic registration took only 1 minute and 15 seconds. However, this ease is followed by strict compliance checks: if an account is unverified, you will almost certainly face withdrawal blocks when trying to withdraw large sums as part of AML procedures. Therefore, it is recommended to complete all necessary KYC steps from the outset to avoid delays later.

It’s important to note that client data is stored securely and used strictly for compliance. EXMO complies with GDPR and other data protection laws, and user feedback suggests document approvals are relatively fast (usually within 1 business day). If verification is rejected (for example, due to unclear scans), support provides clarifications and a chance to resubmit. Overall, the registration and identity confirmation process at EXMO is convenient and reliable, though it does require a standard set of documents from the user.

Deposits and Withdrawals: Methods, Fees, Limits

EXMO is rightly known for its wide range of deposit and withdrawal methods, especially for fiat. Users can fund their accounts with both cryptocurrency and fiat – the platform supports numerous payment methods:

• Cryptocurrencies: deposits in any supported crypto are credited to your balance without EXMO’s own fee (only the network fee applies). Withdrawing crypto also has no additional exchange fee, as the user only pays the network fee (mining fee). For example, the minimum Bitcoin withdrawal fee is 0.0005 BTC, for ETH it’s 0.002 ETH – typical rates that may fluctuate depending on network congestion.
• Bank transfers: EXMO supports SEPA and SWIFT for EUR, USD, etc. Typically, topping up via bank transfer is free, aside from possible bank fees. Withdrawal by bank transfer may incur a fixed fee (around $20 for SWIFT) or a percentage, depending on currency and destination. Thanks to its European licenses, EXMO handles bank payments efficiently; funds usually arrive within minutes (in the case of SEPA Instant) to 1–3 business days (standard transfers).
• Bank cards: one of the most popular methods is Visa/MasterCard. Card deposits are usually instant. The deposit fee can be zero or minimal if EXMO subsidizes that channel. Some card deposit methods have a fee of about 1–3%. For example, depositing USD via Payeer may be around ~0.99%. Withdrawal to a card typically comes with higher fees; previously ~4–5% for Visa, though in 2023 EXMO lowered these rates (for USD, about ~3.49% + $1). For UAH cards, the fee is higher – around 5–6%. Thus, card withdrawals can be expensive compared to bank transfers, but they offer speed (funds usually arrive within a day) and convenience.
• E-wallets and payment systems: EXMO integrates with various services popular in different regions, such as AdvCash, Payeer, Skrill, Neteller, Perfect Money, and others. Fees vary: depositing via AdvCash is often free, while Payeer may charge ~1%. Withdrawals also differ: for instance, AdvCash is ~1%, Skrill/Neteller can be 1–3%. The advantage is instantaneous crediting, while the downside is higher transaction fees than bank transfers.
• EXMO Gift Card: a proprietary method to transfer funds between accounts via gift vouchers. You can create a code for a specific amount and send it to another user for instant credit, bypassing blockchain fees. No fees are charged for issuing or redeeming these Gift Cards. This is convenient for P2P exchanges and depositing via third-party exchangers selling EXMO codes.

EXMO always displays the current fees and limits before completing a transaction. Limits depend on verification status: new accounts may have relatively low daily withdrawal limits (e.g., a few thousand dollars), which increase for fully verified users. Minimum amounts should also be noted: the minimum crypto deposit usually equals the network fee, and minimum fiat withdrawal can be ~$20–50, depending on the method.

Below is an approximate fee table for some popular currencies:

Note: these fees are averaged and for reference only. Actual rates may change, so always check current information on EXMO’s official page. Overall, EXMO aims to keep fees reasonable. Many deposit methods are free, which stands out compared to competitors. Fiat withdrawals, especially to cards, are pricier — but that reflects the costs of payment providers.

Transaction speed is also worth mentioning. Crypto deposits are credited after the required number of network confirmations (for BTC – 1 confirmation, ~10–20 minutes; for ETH/ERC20 – ~20 confirmations, up to 5–10 minutes). Crypto withdrawals are processed automatically, typically in 5–30 minutes (delays may occur with blockchain congestion or wallet maintenance). Fiat transactions may be handled manually by the finance department, so fiat withdrawals often take from a few hours to 1–2 days (depending on the method). EXMO recommends completing all verifications and linking your payment details in advance so your transactions are not flagged for extra checks, ensuring processing within stated times.

In general, EXMO provides flexibility in fund management: multiple deposit and withdrawal methods allow each user to find a convenient option. Its transparent fee policy (all rates are published) and lack of hidden charges foster user trust — though some reviews mention “hidden fees” (e.g., differences in exchange rates), such cases are more about market spreads than direct exchange fees. By checking fees beforehand and choosing the best withdrawal method, you can move funds in and out of EXMO with minimal costs.

EXMO Trading Features and Tools

EXMO offers all the tools needed for comfortable cryptocurrency trading. The main mode is spot trading, i.e., buying and selling actual crypto assets without margin lending. In the EXMO trading terminal, several order types are available: Limit, Market, Stop Orders (Stop Loss / Take Profit), and trailing stops for more flexible position management. The interface is user-friendly, with TradingView charts that include a full set of indicators and analysis tools. Traders can open multiple tabs with different markets, view the order book, trade history, and real-time P/L.

For beginners, EXMO offers a simplified “Quick Exchange” mode. In this case, you simply choose a pair (e.g., BTC/USD), enter the amount, and instantly buy or sell at the current market price. The fee here is slightly higher at about 1% of the transaction, but that’s the cost for convenience and immediacy. Many newcomers start with Quick Exchange and then switch to the advanced terminal to save on fees and get better prices as they gain experience.

For advanced traders, EXMO provides margin trading options. The EXMO Margin service is on a separate subdomain (margin.exmo.com) and allows up to 1:10 leverage. Margin trading is available for a limited number of pairs (mainly major cryptocurrencies paired with USD or USDT). It uses isolated margin, limiting potential losses to the collateral of each position. Full KYC verification is required for margin access. Margin trading fees differ from spot: maker fee is 0% and taker fee is 0.05%, making active margin trading quite cost-effective. A 10x leverage is moderate by industry standards but sufficient for many strategies without turning trading excessively risky.

Beyond standard trading, EXMO also develops other services:

• EXMO Earn – a passive income program similar to staking/deposits. Users can invest certain coins or stablecoins to earn interest. For instance, some promotions have offered up to 15% APY on USDT/USDC. Earn terms depend on the market and may vary, and in some regions (e.g., the EU) this feature may not be available due to regulations.
• OTC Desk – for large transactions without slippage, there is an over-the-counter service. If you need to buy/sell a big volume, EXMO managers can facilitate a direct deal without significantly affecting the market price (usually from ~$100k and above).
• Crypto Bundles – a feature that packages several cryptocurrencies into a single purchase. For example, a “Top-10 Crypto” bundle with the 10 largest coins. By buying such a bundle, you get a diversified portfolio. This function is aimed at beginners wanting exposure to multiple assets without delving into each coin separately.
• API and trading bots – EXMO provides REST and WebSocket APIs for developers. As a result, it’s supported by popular trading bots and terminals (e.g., Cryptorobotics, TradingView, etc.). You can set up automated trading, arbitrage, and more.
• Mobile app – available on Google Play and the Apple App Store. EXMO’s mobile app includes almost all the functionality of the web version: trading, deposit/withdrawal, portfolio tracking, price alerts, and even a built-in community chat for traders. User feedback suggests the app is stable and convenient, letting you monitor the market and trade on the go.

In short, EXMO’s trading experience can be tailored to any need. Beginners get simplicity and instant exchanges, while advanced users enjoy a wide choice of orders, APIs, and leverage. Note that EXMO has also introduced copy trading and signal services for those who want to follow others’ strategies, although these features are still developing. Altogether, EXMO’s toolkit meets nearly all core demands of crypto investors or traders, lagging behind major exchanges mainly in derivatives offerings.

Trading Fees and Comparison with Competitors

Fee policies are crucial when choosing an exchange. EXMO’s approach is quite flexible: trading fees depend on the type of trading pair and the trader’s volume. The baseline rates are:

• Crypto-to-crypto pairs: 0.10% for makers and 0.10% for takers (for new users without discounts).
• Crypto-to-stablecoin (USDT) pairs: 0.20% (maker/taker). Stablecoins are treated like fiat equivalents but with slightly lower fees than direct fiat.
• Crypto-to-fiat pairs: 0.30% (maker/taker) – the initial fee when one of the currencies is USD, EUR, etc.

These rates apply to monthly trading volumes under $100k. As your 30-day volume increases, fees decrease. For example, above $1 million in volume, the fee might drop to ~0.08%, and above $50 million, it can go down to 0% for makers (in crypto-crypto pairs) and about 0.02% for takers. Only truly large traders (over $50 million in 30 days) reach the maximum discount, reflecting the exchange’s focus on beginners and mid-level traders.

An interesting feature of EXMO is its premium fee packages. You can buy a 30-day subscription using EXMO Coin (EXM) to instantly get a fee discount without needing a high trading volume. There are several packages:

• Basic ($1/month) – fees reduced to ~0.095% (maker) / 0.10% (taker).
• Standard ($10/month) – ~0.055% / 0.075%.
• Advanced ($100/month) – ~0.04% / 0.06%.
• Professional ($500/month) – ~0% / 0.05%.

These subscriptions are especially beneficial for active traders with moderate volumes. For instance, if you trade around $50k per month, the Standard package at $10 can slash your total fees by about threefold. However, remember you must pay in EXM, and purchasing the tokens also carries market risk. Still, these packages are a plus for loyal EXMO users, enabling fees competitive with global exchanges even without VIP status.

Let’s compare EXMO’s fees with some competitors:

Note: Spot fees shown, excluding VIP tiers unless stated. Figures may change; always verify on the exchange’s website.

As shown, EXMO’s spot trading fees are competitive: its 0.1% base for crypto-crypto aligns with Binance and KuCoin, and is even cheaper than Kraken or Coinbase. Since EXMO starts at 0.1% only for crypto-crypto while fiat pairs are at 0.3%, it’s slightly less favorable for crypto-fiat trading compared to Binance (where USD as BUSD is also 0.1%). Still, EXMO’s premium subscriptions can easily push your fees below those on most big exchanges if you don’t meet their VIP thresholds.

Other fees also matter, such as fiat deposit/withdrawal and margin funding. As covered, Binance and Kraken often have cheaper bank transfers (0% for SEPA, low fixed for SWIFT). For instance, Kraken’s euro withdrawal can be as low as €0–1 (SEPA), while EXMO’s might be around €25 for a bank withdrawal. However, Binance charges higher fees to inexperienced users on P2P or card purchases (spreads up to 2–3%), whereas EXMO clearly displays a straightforward rate. On EXMO Margin, the taker fee (0.05%) is on par with Binance Futures (0.04%/0.06%) and cheaper than Kraken Futures (0.02%/0.05% plus swaps). EXMO does not charge separate funding fees, as the leverage is lower and built-in.

In summary, EXMO’s fee structure is aligned with industry best practices without overcharging users in critical areas. While fractions of a percent might not matter to beginners, they can be significant for large volumes — and EXMO provides avenues to reduce them (achieving higher tiers or buying subscriptions). Thus, commission costs shouldn’t be a deal-breaker for those choosing EXMO, especially if they make use of the available discounts.

Exchange Popularity, Volumes, and Liquidity

When it comes to exchange popularity, volumes and user base size are typically evaluated. EXMO’s numbers are moderate: daily spot volume ranges from $30–70 million (depending on market activity). In February 2025, for instance, its 24-hour volume was around ~$70.8 million. This places EXMO somewhere in the top-50 global crypto exchanges by volume. By comparison, industry leaders often do an order of magnitude more: Binance can exceed $10 billion daily, Coinbase around $1–2 billion, Kraken about $1–1.5 billion. Hence, EXMO’s liquidity is noticeably lower than the top five global platforms. Historically, EXMO was more focused on post-Soviet and European markets, where it competed with local players. At one point (around 2018–2019), EXMO was even called the largest exchange in Eastern Europe, boasting ~1.5 million registered users and monthly trading volume above $1.5 billion.

Since then, the user base has continued to grow, though there have been dips. Restricting services in Russia and related countries in 2022 led to losing part of the user base (the company says around 1 million accounts were sold to a separate operator for a local EXMO.me service). Nevertheless, the remaining global segment (Europe, Asia, Latin America, etc.) ensures a steady inflow of clients. Currently, EXMO claims more than 1 million verified users worldwide, which is significant for an exchange of this size. About 4,000 monthly active traders form its core — a relatively compact audience, with many using EXMO only occasionally or for one-off exchanges rather than active trading.

Looking at the liquidity of individual EXMO markets, fiat pairs are the most active: BTC/USD, BTC/EUR, ETH/USD, XRP/USD have the highest volumes and narrowest spreads. Given the exchange’s background, pairs with the Ukrainian hryvnia (UAH) and Turkish lira (TRY) also see significant volume. EXMO has historically been a primary choice for buying crypto with hryvnia in Ukraine, especially after local exchanges closed. Similarly, supporting PLN and KZT drew users from Poland and Kazakhstan (although KZT operations changed after 2022).

The popularity of EXMO correlates with overall market trends. During bull runs in 2017 and 2021, the exchange had record inflows of users and volume. During the 2018 bear market and the 2022 crypto winter, activity dipped. Unlike many newer projects, though, EXMO remained afloat, adapting through relocations (partly moving from the UK to Lithuania/Poland post-Brexit), domain restructuring (exmo.com for global users, exmo.me for some regions), and new services (margin, Earn), as well as philanthropic initiatives (EXMO Save Ukraine), enhancing community loyalty.

Reputation-wise, EXMO is typically noted in media and industry reports as a reliable, mid-sized exchange. For instance, CoinGecko assigns EXMO a relatively high Trust Score of ~7/10, indicating genuine volumes and sufficient order book depth for key pairs. Nonetheless, some analysts are cautious: low liquidity can lead to price anomalies. There have been instances when the Bitcoin price on EXMO significantly deviated from the global rate — for example, in 2022 BTC traded a few thousand dollars higher on EXMO, driven by local demand and restrictions on Russian traders. Some forum discussions mention that volumes might be partially supported by market-making bots to prevent the exchange from appearing “empty,” although direct evidence is lacking and such practices are not uncommon in the industry.

Overall, EXMO’s popularity grows steadily, if not explosively. It is solidifying its position as a convenient fiat gateway, attracting new users where bigger competitors are less active (e.g., certain Eastern European, Asian, and Latin American regions). Liquidity is sufficient for most retail traders, but institutional or high-volume players may need more depth — EXMO offers OTC service for them. In volume rankings, EXMO is modest, yet in reliability and longevity it has earned a certain authority. Many traders keep EXMO on their shortlist of alternatives if larger platforms face issues, valuing its independence and commitment to fair trading (no price manipulation, no unjustified account freezes, etc.).

Real User Reviews (Trustpilot, Forums, Social Media)

No review is complete without hearing from the users themselves. Feedback on EXMO is mixed — there are both satisfied customers and critical voices. Let’s outline the main trends based on Trustpilot, crypto forums, and social media (Reddit, Bitcointalk, etc.).

On Trustpilot, EXMO’s rating is around 2.3 out of 5 stars. This is not very high and indicates negative reviews exist. Users frequently mention the following issues:

• Withdrawals and verification: Some negative reviews cite difficulties with withdrawals — people complain about “frozen” funds while support requests more documents. For example, one user stated that a ~100 BTC withdrawal was delayed for 6 months pending proof of source of funds. Such cases are likely due to AML checks on large sums. Although it’s frustrating, many forum participants acknowledge that EXMO is simply following the law (“they’re fully within legal rights — these checks are required by regulators”). Nonetheless, the user experience can suffer, leading to low ratings.
• Customer support: Complaints include slow or scripted responses. The lack of live chat adds to the frustration. Some reviewers mention “template replies” and say it took a long time to resolve issues via email. Conversely, some users praise EXMO’s support for competence and assistance in complex situations. So response speed may vary by period. Currently, EXMO claims 24/7 support with replies within hours.
• Hidden fees / exchange rate: A handful of negative comments stem from receiving less crypto than expected via the Quick Buy function, labeled “hidden fees.” EXMO clarifies that there’s a spread (about 1%) in instant exchange rates, representing the user’s cost of immediate execution. This can confuse newcomers. The exchange should probably explain the pricing mechanism more clearly to avoid these claims. Still, there aren’t many such complaints, and some were retracted after clarifications.
• Technical glitches: Some users mention missing SMS for 2FA codes or brief website downtime at crucial moments. For example, a Reddit user complained about a short EXMO outage that prevented selling coins at a peak. Such stories appear with every centralized exchange. In EXMO’s case, these are rare events, and the platform generally has good uptime. Still, criticisms of “instability” pop up occasionally.

On the positive side, there are also many favorable reviews. Users appreciate EXMO for the features that drew them in:

• Simplicity and convenience: “Intuitive interface, clear even for beginners” is a common theme. Users note quick registration and straightforward buying, praising it compared to more complex giants like Binance.
• Fast transactions: Some clients praise EXMO’s speedy operations — both depositing and withdrawing. For instance, a user noted receiving a withdrawal to Visa in minutes, or that support manually approved a large withdrawal within an hour after documents were provided. Fast fiat processing is a competitive advantage often highlighted in positive reviews.
• Local currencies: Traders from various countries are grateful EXMO supports their national currencies. Many from Ukraine, Turkey, Kazakhstan, etc., call EXMO a lifesaver when other exchanges didn’t handle UAH/TRY/KZT. Positive comments on local forums mention “best exchange rates for hryvnia,” “topped up with lira right from my bank card, very convenient,” etc.
• Reliability and trust: Despite some scam accusations, a substantial portion of the community sees EXMO as trustworthy. Reddit discussions frequently emphasize that the exchange has been around for years without “ripping users off”: “EXMO is legit, registered in the UK, with all the documents. I’ve used it for years — no problems.” Such feedback indicates confidence among experienced traders familiar with different market cycles.

Here are a few excerpts from real reviews:

• Trustpilot, 2023, 2★: “Verification is hell. They asked me for proof of funds after 3 years of usage! Withdrawals are frozen, they want documents I no longer have. Very disappointed.” – The user is upset about sudden strict checks before withdrawing a large sum after no questions for years.
• Trustpilot, 2023, 4★: “Good exchange for my needs. Intuitive UI, support replies within a day. I’d just like a better mobile app, it sometimes lags.” – Positive overall with a minor request for app improvements.
• Reddit (/r/Bitcoin), 2022: “EXMO is a small exchange, volumes are low, prices can deviate from the market. But I wouldn’t call it a scam. It’s just a local platform, never had any real trouble.”
• Bits.Media forum, 2021: “Used Exmo for converting crypto to rubles for 2 years, everything’s fine. Fees are high, but the convenience is worth it. Verification done from day one, no problems with withdrawals.” – A Russian user’s comment before the exchange stopped servicing Russia.

Overall, EXMO’s Trustpilot score is around 3.4. By comparison, Binance has 1.4, ByBit 3.1, and KuCoin 1.4.

In total, EXMO’s reputation among users is mixed but generally within the norm for centralized exchanges. Beginners tend to be happy (especially if they don’t face KYC hurdles), while experienced traders are more critical of the details. A 2.3/5 rating on Trustpilot indicates people usually post there about problems rather than praise. Meanwhile, on specialized crypto forums, EXMO is rarely labeled a scam — it’s seen as a legitimate business. Users mainly complain about operational factors (fees, support, KYC checks), which EXMO’s team works to address. Representatives often respond to reviews on Trustpilot, offering solutions, showing a willingness to improve.

For prospective new users, the takeaway is to review EXMO’s verification rules and fee schedules in advance. If you do, you’ll likely have a positive experience. Feedback from thousands of traders confirms the exchange fulfills its core function — providing crypto access — albeit with some service imperfections.

Expert Evaluations and Reviews

How do industry experts evaluate EXMO? Overall, crypto media and analytics platforms praise the exchange for reliability and user-friendliness, while noting its regional focus and certain limitations.

The reputable educational resource BitDegree, in its review, gives EXMO a favorable rating, emphasizing its multi-layered security: cold storage of 99% of funds, partnership with Ledger Vault and $150 million insurance, plus anti-phishing measures. Their review states that EXMO “follows best security practices and aligns with global AML/KYC standards,” using SSL encryption and stringent checks. BitDegree specifically mentions the integration of Hexagate — a blockchain monitoring platform safeguarding EXMO’s Earn products from potential attacks. Hence, specialists conclude the company takes user asset protection very seriously and adopts advanced solutions.

Cryptowisser scores EXMO at 3.8/5, highlighting low trading fees and ease of use as positives, while citing lack of service for US clients as a main drawback. CryptoCompare awards the exchange 4 out of 5 stars, noting EXMO’s “strong reputation in Eastern Europe” and good range of payment methods. They also reference the 2020 hack, but point out that EXMO reimbursed losses and strengthened security afterwards.

In the CER.live (Crypto Exchange Ranks) 2023 report, EXMO received a mid-tier safety index (CC). Reasons include the absence of a fully public pen-test report and a less active bug bounty program than industry leaders. Nonetheless, EXMO scored well for not having major incidents where users lost funds and for transparency in data reporting. Again, experts see EXMO as neither perfect nor a laggard — a solid middle performer whose security stance is better than might be inferred from isolated user complaints.

Certain publications focus on regulatory aspects. CoinDesk, for instance, reported on EXMO’s withdrawal from the Russian market in 2022, viewing it positively in the West. That move was seen as aligning with sanctions requirements and aiming to obtain licensing in the UK and US. Though EXMO UK ultimately did not get a full FCA license, the attempt suggests the company sought legitimacy in stringent jurisdictions. Many competitors don’t even try registering officially, while EXMO invested time and resources to comply, singled out by CoinDesk as a unique case for an exchange originating in the CIS region.

We can also note a usability analysis by independent consultants. In 2019, PAID Strategies compared KYC procedures on various exchanges and praised EXMO for easy account activation (the best among 25 platforms tested). However, they criticized that EXMO “allowed trading too easily without verification,” which “didn’t inspire a sense of security.” Much has changed since then — now you can’t withdraw assets without identity checks, so the balance between simplicity and security has become more even.

In terms of broader industry recognition, EXMO often appears in “Best Exchanges for Beginners” or “Top Fiat On-Ramps” lists. Russian-language portals (Bits.Media, СCrypt) consistently place EXMO in their top-10 rankings, highlighting customer focus and reliability. Crypto-aggregator wellcrypto, in its summary, notes: “The exchange has never lost user funds from hacks” and “has a high level of customer focus and support.” While slightly idealized, it reflects EXMO’s media image: an exchange originating in the CIS that successfully went international, adhering to key industry standards.

The expert conclusion is that EXMO mostly receives positive ratings for user-friendliness and security, though experts do point out its niche orientation. The exchange excels as a bridge between traditional finance and crypto for many countries, but in global coverage and volume, it falls behind bigger players. Still, EXMO has no red flags suggesting it is unsafe or untrustworthy — it has operated for a long time, meets its obligations, and continues to evolve. That track record of longevity and reliability (Authority & Trustworthiness) is valued by both everyday users and the professional community.

Frequently Asked Questions (FAQ)

Is EXMO safe?
Overall, EXMO is considered a secure exchange. It stores 95–99% of funds in cold wallets with multi-signature, uses 2FA for account protection, and employs anti-phishing measures. Following the 2020 incident, the exchange insured crypto assets up to $150 million, boosting user confidence. Naturally, users should adopt their own security measures (enable 2FA, avoid suspicious links, etc.) to keep their accounts safe. EXMO has never experienced a scenario where customers’ losses went uncompensated (e.g., bankruptcy or closure holding user funds), which fosters trust in storing assets there.

Can US residents use EXMO?
No, EXMO is currently unavailable to citizens or residents of the United States. The same applies to the UK, Canada, Japan, and some other restrictive crypto jurisdictions. EXMO does not hold the required licenses in these countries, focusing instead on the EU, CIS, parts of Asia (excluding heavily regulated markets like Singapore), and Latin America. Check EXMO’s FAQ to confirm availability for your country. US residents attempting verification will be rejected.

Does EXMO offer margin trading?
Yes, EXMO provides margin trading with up to 1:10 leverage. This service is run on a separate EXMO Margin platform linked to your main account. Margin trading involves borrowing funds from the exchange to open larger positions — for example, with 100 USDT in your balance, you could open a trade worth 1,000 USDT at 10x leverage. EXMO uses isolated margin for a limited list of popular pairs (BTC/USD, ETH/USD, etc.). The fee for margin is 0% for makers and about 0.05% for takers; there is no separate swap fee for carrying the position. To access margin, you must complete KYC. EXMO does not offer futures or perpetual contracts, only classic margin spot trading.

What is EXMO Coin (EXM)?
EXMO Coin (EXM) is the exchange’s native token launched in 2019 under the ERC-20 standard. It serves as a utility token within the platform. Key use cases for EXM:

• Fee discounts – holding EXM allows you to buy Premium packages that reduce trading commissions to as low as 0%.
• Participation in Earn programs and promotions – some bonus products (e.g., higher deposit interest or “swap crypto dust for EXM” events) require EXM in your balance.
• Staking and investment – you can hold EXM on the platform, earning periodic rewards. The exchange conducts quarterly buybacks and burns, using up to 50% of its profits to purchase and destroy EXM tokens. This reduces total supply, potentially supporting the token’s price.

In essence, EXMO Coin resembles other exchange tokens (BNB, KCS, etc.) as a loyalty tool. Buying EXM makes sense if you are an active EXMO trader seeking to lower fees. For light trading, you can manage without EXM — there is no obligation to use it. The token’s price is volatile, depending on altcoin market conditions, but EXMO aims to sustain its value through regular burn events and new functionalities.

What are EXMO’s fees and how can I reduce them?
For newcomers, the spot trading fee on EXMO is 0.1% for crypto-to-crypto pairs and 0.3% for crypto-to-fiat. This fee is automatically deducted in the quote currency of each trade. Crypto deposits carry no EXMO charge, while crypto withdrawals only incur the network fee (e.g., 0.0005 BTC for Bitcoin). Fiat deposits are often free of EXMO’s fee, whereas fiat withdrawals involve fees depending on the method (see the deposit/withdrawal section). You can lower trading fees in two ways:

1. Increase your trading volume. EXMO has tiered levels: once you exceed certain 30-day thresholds ($100k, $1M, $10M, etc.), your fee rate automatically decreases. At the highest tier (>$50M), the maker fee can drop close to 0%. This is out of reach for most, but even a few thousand dollars in monthly volume offers a modest discount.
2. Buy EXMO Premium. This is a 30-day paid subscription using EXMO Coin. There are four levels — Basic, Standard, Advanced, Professional — costing from $1 to $500 in EXM. Depending on the level, you get a fee discount up to zero for makers. Even the $1 Basic pack can reduce the rate to ~0.095%. A $100 pack brings it down to ~0.05–0.06%. If you trade significant volumes, paying $10 or $100 can save you more overall.

Therefore, EXMO’s fees are already quite low, and you can reduce them further. Keep an eye out for cashback promotions: the exchange periodically runs events returning part of users’ fees, and EXM holders get referral bonuses up to 70% from referees’ fees. Altogether, EXMO’s fee environment is comfortable for most traders.

Conclusion

EXMO is a well-rounded crypto exchange that combines user-friendliness for beginners, rich features for experienced traders, and a high degree of reliability. Its track record and reputation reflect the team’s expertise (operating since 2014 without catastrophic failures), its leadership in its original region (once the top exchange in Eastern Europe), and its efforts to earn global trust through transparency and best practices. If you need a universal platform for buying, selling, and exchanging cryptocurrencies with convenient fiat deposits/withdrawals and low fees, EXMO is definitely worth considering.

Igor Lementov - Financial Expert and Analyst at Trading-Today.net