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HTX Review – Is it Legit? (April 2024)

Experienced Cryptocurrency Exchange With 300+ Markets Available

Reviewed By |

Overall Rating

3.1/5

FAST FACTS

Fees: 0.2% Standard Maker & Taker Fee

Best For: Asian-Based Traders

Warning: Trading in cryptocurrency is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.

HTX was originally launched in 2013 under the name Huobi.  It was rebranded to HTX in late 2023 and remains one of only a handful of exchanges in China. Starting out small, it has since grown tremendously in size and now operates through several different entities depending on your location. HTX is the parent company that offers trading to most countries around the world with the exception of the US, while they also have dedicated operations in Japan and South Korea.

The cryptocurrency exchange, though, is no longer located in China and has since been incorporated in the Seychelles.

Pros

  • 300+ Cryptocurrencies to trade
  • Margin trading, futures, options, and more available
  • 24/7 customer support

Cons

  • Mixed trader reviews
  • Non-transparent minimum deposits can apply
  • Higher than average trading fees

Trust

2.5/5

Trust in any financial operation is paramount. This becomes even more key when choosing a cryptocurrency exchange like HTX, given its offshore regulation. In the case of HTX, the information we have to follow starts with the length of time it has been operating in the industry and the reputation it has cultivated. With almost 10 years of experience, this is a positive sign for its operation. It has also established itself in a number of well-known and trusted financial hubs around the world.

The company’s origins as a Chinese exchange may raise eyebrows, and the fact that it has accumulated a mixed bag of reviews from other traders is not particularly helpful. In fact, though, the company seems to be reasonably transparent and secure in its operations. This includes following all AML and KYC procedures where required.

When it comes to system security, it also appears to check all the right boxes. This means providing 2-factor authentication and holding the majority of trader funds, up to 98%, in cold storage for maximum security. It also claims to have an investor protection policy that can help in the event of a hack.

Investment Products

3.6/5

This is an area where the exchange focuses heavily and provides an excellent selection of currencies for all levels of traders to get involved with. HTX offers trading in more than 300 cryptocurrencies, and this number is increasing constantly as new altcoins are voted on to the platform. This voting is accessible through their alternative trading platform, HADAX, which also falls under the HTX company umbrella.

Sticking with what you will find available, though, there are more than 300 cryptos that you can trade in pairs. The platform supports more than a dozen fiat currencies as well as margin trading, futures, options, and other derivative trading markets, which is a growing area for the entire sector.

Overall, you will not be short of choices to trade simple spot markets through the exchange or explore other available possibilities. It also recently launched its own trading bot service, which is still in the beta testing phase but could open up the possibility of auto-trading through the platform in the future.

Trading & Fees

2.4/5

Commissions and fees are always kept reasonably low within the sector when choosing any of the well-known crypto exchanges. The same is the case with HTX, which boasts a very healthy trading volume backed by its popularity. Still, the trading fees here fall on the higher end of the scale.

The standard HTX trading fee is 0.2% on both the maker and taker sides of the trade. This applies to crypto-to-crypto trades up to a volume of 5 million USDT within a 30-day period. Above this amount, you start to receive discounts on these fees from the exchange.

Fiat-to-crypto trading is possible with a fee of 0.7% on the maker’s side, with the exception of a few key cryptos like Bitcoin and Ethereum, which are promoted as fee-free when bought with Chinese Yuan. The same is true if you use the Chinese Yuan to purchase USDT or the native HUSD with the company.

There should be no fees besides the network fee for making an HTX deposit. Withdrawal fees are applied, but these depend on the crypto you are taking out. However, they remain in line with the rest of the industry.

Trading Platform

3.4/5

In fact, HTX has a few different trading platforms available based on your needs, with separate trading platforms for both margin trading and OTC markets trading available. Sticking with the standard exchange trading platforms, though, you will find that it offers a very wide range of capabilities.

Regarding layout, the platform appears very well-designed and is easily one of the easiest on the eye in the industry. The tools at your disposal to analyze charts within the trading platform are supported by Trading View. These ensure you have some of the most comprehensive options around with good customizability.

Overall, the platform’s UI and general usability are very good. The main drawback of the trading platform itself is that it can be daunting for less-experienced traders. The complexity of having several different trading platforms available, as well as a wide variety of features and options to view within the exchange trading platform, is something that many have commented on as more suitable for experienced traders and with a steeper learning curve than some other exchanges. You can also trade on the move through a quite user-friendly mobile app and trading platform offered by HTX.

Customer Support

3.8/5

While customer support can be lacking with some exchanges, this does not seem to be the case with HTX. It is, in fact, one of the few top cryptocurrency exchanges that offer round-the-clock customer support. Most of this is provided through its website’s dedicated live chat function.

If you do not require an immediate response, then you are also free to contact the exchange by email with your questions. Additionally, the HTX FAQ section is well stocked with some of the most commonly asked questions and solutions to some of the most frequent problems you may encounter. The support team appears quick to respond and knowledgeable in regard to questioning.

Summary

3.1/5

Overall, HTX provides a fairly strong service when it comes to actual trading and features you can access. It offers a wide range of markets and is generally supported by a comprehensive trading platform and solid customer support.

These are some of the core fundamentals needed to make a strong exchange, and all are provided by HTX, even though there still may be some anxiety surrounding their offshore regulatory status and company origins. Besides the sometimes overly complex trading platform, it would appear HTX can do a good job meeting most trading needs, particularly at more experienced and high-volume levels.