The EMX platform is a derivatives exchange that tries to stand out from the saturated market of only crypto margin trading exchanges.
They do this is by offering its users the option of buying and selling futures contracts on commodities, indices, and fiat currencies.
The main selling point of EMX over other exchanges is the ability of participating in these traditional markets with cryptocurrency as collateral. As opposed to having to use a traditional broker to access these assets, which is more often than not, a costly and exhausting process.
As we have already mentioned EMX stands out by offering the option to trade traditional derivatives like indices, commodities, and fiat currencies.
Their list includes around 14 assets:
The current max leverage on EMX is 500x, but this all depends on the asset. Right now it is limited to only the USD-Brazilian Real Perpetual contract. US500 and GOLD capped at 67x, and other cryptocurrency contracts at 50x.
This kind of leverage may seem low for the industry standard of 100x, but EMX is still a growing platform. So they are likely to have plans to change some of these restrictions in the future.
The trading fees at EMX are very competitive compared to the over-saturated cryptocurrency exchange market. They don’t charge Maker fee, instead you get a 0.0125% rebate for Traditional assets and 0.025% for Crypto contracts. Of course, as many other exchanges already do, it all depends on your trading volume over a 30-day period.
There are currently no withdrawal or deposit fees on EMX.
The EMX Token
EMX has a native utility token that offers several benefits to it’s holders.
The tokens were sold during the ICO which concluded in 2017, now you are freely able to trade them in the exchange.
The EMX Token offers the following benefits:
Collateral: EMX tokens, in addition to BTC, ETH and stablecoins may be used as collateral on the exchange.
Fee Discounts: Earn generous discounts when you pay fees with the EMX Token.
Staking: Lend EMX tokens to the EMX Insurance Fund. 10% of the fund’s gains are paid out to EMX Token holders every two weeks.
Rewards: Holders of the EMX tokens have the opportunity to earn more in trading competitions, and also get access to premium features on the exchange.
Read more about the EMX Token and it’s benefits here.
EMX offers a pleasing to the eye user interface. Allowing you to navigate with ease to the most essential and necessary parts of the platform.
You can access your balance and see your Daily PNL, unrealized PNL, overall PNL, and other information related to your positions with a just hover of the account summary section.
All trading instruments are also neatly displayed over the top with the last price, so you can quickly take a look without having to go into it.
Another one of the small features that EMX offers that almost no one else does, is subaccounts. Being able to easily switch and manage funds between subaccounts is a really great addition to have.
Users must complete the Know Your Customer (KYC) verification before they are able to deposit funds and begin trading on the platform.
It is a pretty clear and straight-forward process, as with many other exchanges this has become the norm.
However, there’s a few country restrictions.
Anyone located in or a resident of Cuba, Iran, North Korea, Sudan, Syria, Lebanon, Libya, Somalia, and United States of America, or any other jurisdiction where the services offered by EMX are restricted is prohibited from participating in trading on EMX.
As we all know, social media is one of the gateways to knowing a company. The interactions with their users, inform of new updates, and share other useful information.
Marketing is so important currently that it is hard to justify not having a good team to take care of this aspect.
And sadly, this is one of the shortcomings of EMX.
It seems they tried to be active on many social media, like reddit, Twitter, Facebook, while also having a blog.
They quickly seem to have scrapped those ideas though, as their only relevant news outlet is Twitter, where they post a few market updates on some of their trading instruments, updates to the platform, and some news that could be relevant to their users. They are doing an acceptable job at the very least on this one. Even though, user interaction and focalized content is something that would attract new users and expand their platform.
Their Telegram support group is another place where there’s not much going on, as there seems to not have a lot of users engaging in conversation. Administrators are helpful and able to assist you in any inconveniences you may encounter with the platform.
EMX is a fintech software company that is headquartered in the San Francisco Bay Area in the US.
The company is registered in Bulgaria and is currently working with regulators in Bulgaria and the United States to obtain licensing.
The project was founded by Craig Austin and Jim Bai, two entrepreneurs with more than two decades of experience in handling hedge funds as well as futures and options books.
EMX is an emerging trading platform that tries to combine various markets that have yet to collide, traditional derivatives, fiat currencies, and cryptocurrencies.
Although they still offer very limited trading instruments, in the near future EMX expects to continue expanding to new assets. Like additional real-world indices, commodities, and cryptocurrency pairs.
What will attract the new users to this platform is the access to the traditional derivatives market, while being able to use cryptocurrency as collateral.
Which we hope they notice is their strong point and tries to keep improving upon it.