Hoo.com Review

Trust and security are vital components within any exchange operation. While Hoo does not boast any kind of registered licensing and regulation, the Hong Kong-based operation does aim to provide a secure environment and trading platform for all users. They have now been around since 2017 and continue to establish their name as a trusted up-and-coming exchange. 

Among the key features of the Hoo exchange in this respect is the fact that they use decentralized servers. This can help improve service reliability and protect the exchange from being hacked. The fact that the exchange has also been operating now for several years and gained the trust of many in the industry lends favorably toward its reputation even though it does not have some of the other regulatory features you may find with some major competitors. 

Hoo has also progressed through its relatively short time in the industry and continues to grow. Part of this growth that has encouraged traders to trust the platform is the fact they also acquired both Chance and OAX exchanges in recent years.

The range of assets and investable products available at Hoo is where the exchange comes into its own. As mentioned, they are often one of the first exchanges to introduce new tokens when they often are not available even on some bigger name platforms. 

Currently, this includes a wide range of more than 200 crypto pairs with a good mix of established coins and new tokens. 

Beyond just what you will find available on the spot market, it is possible to trade a selection of futures through Hoo and access a choice of other innovative features. 

These include the ability to trade with high leverage on futures contracts with no expiration date though this is a highly risky practice. Traders can also provide liquidity to earn rewards through HooPool and use the HooEarn feature to engage in one of a number of savings-style plans that also generate a passive income.

Starting with trading fees, the exchange for the most part has a flat fee structure for both maker and taker fees. This starts from 0.2% for standard traders. Depending on volumes traded your status with the exchange may improve and this could lead to lower trading fees, though the majority of users will experience a 0.2% fee on trades. 

When it comes to withdrawal fees, the exchange does not appear to charge any. This is with the exception of the standard blockchain fees incurred. These fees will vary depending on the cryptocurrency you are withdrawing. Crypto deposits will also attract similar blockchain-related fees depending on the currency you choose to transfer.  

Fiat currency deposits are also supported by the Hoo exchange. These can be made through wire transfer only at the current time. There are no fees reported to be associated with these fiat deposits aside from any which your financial institution may charge. Currently, the exchange supports fiat deposits in US Dollars, South Korean Won, and Chinese Yuan. There is also a Hoo affiliate program through which traders can earn commission and improve their VIP status based on the number of new users referred to the exchange.

Hoo offers a web-based trading platform alongside its mobile trading platform options. The trading platform is responsive and easy to navigate. Users will find a familiar style here with most other top exchanges in that charting, ordering, and available market functions are all clearly displayed. A range of order types including market and limit orders can also be selected. 

The charting function within the Hoo trading platform allows for traders to use several tools and indicators to customize the charting view over specified timeframes and other parameters to assist with technical analysis. This can be particularly useful to frequent or high-volume traders who want to assess charting details with a range of views. 

The exchange also provides a mobile trading platform. This is in app form and available to download for both iOS and Android devices. The functionality and features within the Hoo mobile trading app are much as you would expect from the desktop counterpart with no loss of capability. The platform is similarly user-friendly and responsive.

When it comes to customer support, Hoo provides a detailed FAQ section where traders can answer most questions. Additionally, there is a live chat feature that is available in both English and Chinese. 

For further support, traders can raise a ticket through the exchanges dedicated ticketing system and a member of the team will reach out to assist in a typically fast and professional manner. Email support as well as several social media channels are also available where needed.

In all, Hoo provides a good all-round service for traders. This is particularly true for those who may be looking to invest in tokens that are not available elsewhere or some who may wish to engage in leveraged crypto trading. The support systems in place are also well established. 

Despite being relatively new to the industry and not having a great deal of detail surrounding regulatory and other protections for traders, Hoo has done a good job in sourcing exciting new tokens. Continuing this trend should see them gain further traction and industry recognition.

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