When you're looking for a crypto exchange that doesn’t nickel-and-dime you on every trade, Ethfinex stands out - but only if you know what you’re getting into. It’s not the biggest name like Binance or Coinbase, and you won’t find credit card deposits or a slick mobile app. But if you trade frequently and care about low fees and clean order books, Ethfinex might be one of the few exchanges that actually rewards you for being a serious trader.
How Ethfinex’s Fees Compare to the Rest
Most exchanges charge around 0.25% to 0.30% per trade. Ethfinex? It’s cheaper. Takers pay 0.20%, and makers pay just 0.10%. That’s not a typo. If you place limit orders that get filled later - meaning you’re adding liquidity to the market - you pay less. This is the maker-taker model done right. It’s not just a discount; it’s an incentive. The exchange wants you to place orders that help others trade smoothly, and it pays you back in lower fees.
Compare that to Kraken or Binance, where taker fees often start at 0.10% but climb to 0.26% for smaller traders. Ethfinex keeps its taker fee flat at 0.20%, no matter your volume. That’s rare. And for high-frequency traders or arbitrageurs who make dozens of trades a day, that 0.05% difference adds up fast. Over 100 trades, you save $50 on a $10,000 trading volume just by choosing Ethfinex over a typical exchange.
Withdrawals are where things get sticky. Ethereum withdrawals cost 0.01 ETH. That’s about $25-$30 depending on price. For comparison, Kraken charges 0.008 ETH, and Coinbase is 0.004 ETH. That’s a 150% higher fee on Ethfinex. If you’re moving ETH often, this adds up. It’s the one place where Ethfinex feels outdated. No mention of ERC-20 token withdrawal fees either - a red flag if you trade altcoins.
Security and Transparency - What’s Actually Known
Ethfinex claims to prioritize security and transparency. That’s vague unless you know what it means. They don’t publish audit reports. No proof of reserves. No third-party security certifications listed on their site. That’s not unusual for smaller exchanges, but it’s a risk. In crypto, you can’t trust claims - you need proof.
Still, they’ve never been hacked. That’s something. No public breach reports since their launch in 2016. That’s six years of clean history. For a platform that doesn’t have the marketing budget of Binance, that’s impressive. They also use multi-sig wallets and cold storage, which is standard but still necessary. If you’re storing large amounts, you should still move them to a hardware wallet. No exchange is 100% safe.
Transparency here means clear fee structures and no hidden charges. You know exactly what you’re paying. No surprise maker-taker adjustments. No fee hikes without notice. That’s more than you can say for some platforms that change fees overnight.
Liquidity: Why It Matters More Than You Think
Liquidity isn’t a buzzword - it’s the difference between getting filled at $2,800 or $2,850 on an ETH trade. Ethfinex doesn’t have the order book depth of Binance, but it’s solid for a mid-tier exchange. The maker-taker fee structure encourages traders to place limit orders, which naturally fills the order book. You’ll see tighter spreads on ETH/USD and ETH/BTC pairs compared to smaller exchanges like ionomy or FTX US.
Real traders notice this. On TradingView, Ethfinex’s ETH/USD chart shows less slippage than exchanges with lower volume. That’s because the platform attracts professional traders who care about execution quality. If you’re day trading or scalping, this matters. A 0.5% slippage on a $5,000 trade is $25 lost. Ethfinex keeps it under 0.2% most days.
Deposit Methods: The Big Limitation
Here’s the catch: you can’t deposit with a credit card. Or PayPal. Or Apple Pay. You can only use bank wire transfers. That’s a major hurdle for new users. If you’re in New Zealand, Australia, or Europe, wire transfers take 1-3 business days. You can’t jump into a price spike like you can on Coinbase or Kraken.
This isn’t a design flaw - it’s a strategy. Ethfinex isn’t trying to attract casual buyers. They’re targeting traders who already have crypto or bank accounts and want to move fast once funds are in. If you’re waiting for your salary to hit your account, then wiring it over to trade, this works. But if you want to buy ETH with your Visa after seeing a tweet? You’re out of luck.
User Ratings: Real People, Real Feedback
On Trustpilot, Ethfinex has a 4.6 out of 5 based on 32 reviews as of September 2025. That’s high - and rare for an exchange with under 100,000 users. Most reviews mention clean interfaces, fast execution, and responsive support. One user wrote: “I’ve traded on 5 exchanges. Ethfinex is the only one where my limit orders always fill at the price I set.”
On Cryptogeek, it’s rated 4 out of 5 (based on one review - so take that with a grain of salt). But when compared to FTX US (rated 3) and ionomy (rated 3), Ethfinex clearly comes out ahead in user satisfaction. The small number of reviews doesn’t mean it’s bad - it means it’s niche. It doesn’t have millions of users, but the ones who use it stick around.
What Ethfinex Doesn’t Tell You
There’s no mobile app. No API documentation on their site. No institutional services. No staking. No fiat on-ramps beyond wire transfers. If you’re looking for a one-stop shop, this isn’t it. It’s a trading terminal - nothing more, nothing less.
You won’t find a list of supported tokens on their homepage. You have to go into the trading interface to see what’s available. As of late 2025, they support about 30 coins, mostly Ethereum-based tokens and major ones like BTC, LTC, and XRP. No meme coins. No obscure DeFi tokens. That’s intentional. They’re not chasing hype. They’re building a clean, reliable trading environment.
Customer support is email-only. No live chat. No phone. Responses usually come within 24 hours. Not fast, but consistent. Users report that support knows what they’re talking about - no robotic replies. That’s rare.
Who Should Use Ethfinex?
Use Ethfinex if:
- You trade frequently and want lower fees than the industry average
- You’re comfortable with bank wire deposits and don’t need instant funding
- You care about order book depth and minimal slippage
- You don’t need a mobile app or staking features
- You’re okay with a minimalist platform focused on trading, not entertainment
Avoid Ethfinex if:
- You want to buy crypto with a credit card
- You trade altcoins outside the top 30
- You need 24/7 live support
- You’re new to crypto and want hand-holding
The Bottom Line
Ethfinex isn’t for everyone. But it’s not trying to be. It’s a quiet, efficient trading platform for people who know what they’re doing. The fees are among the best in the industry. The liquidity is solid. The security record is clean. And the users who stick with it? They’re happy.
It’s not the future of crypto exchanges. But for traders who value execution over flash, it’s one of the best-kept secrets.
Does Ethfinex support credit card deposits?
No, Ethfinex does not accept credit card deposits. The only deposit method available is bank wire transfer. This limits accessibility for new users but aligns with the platform’s focus on serious traders who already hold funds in bank accounts.
What are Ethfinex’s trading fees?
Ethfinex charges a 0.20% taker fee and a 0.10% maker fee. This is below the industry average of 0.25% for takers, making it one of the more cost-effective exchanges for active traders. Maker fees are lower to encourage limit orders and improve liquidity.
Is Ethfinex safe to use?
Ethfinex has never been hacked since its launch in 2016 and uses standard security measures like cold storage and multi-sig wallets. However, it does not publish proof of reserves or third-party audit reports, so users should not store large amounts long-term. Always use a hardware wallet for significant holdings.
Does Ethfinex have a mobile app?
No, Ethfinex does not offer a mobile app. The platform is web-only, designed for desktop trading. This appeals to serious traders who prefer full-screen charts and advanced order types, but it’s a drawback for users who want to trade on the go.
How many cryptocurrencies does Ethfinex support?
Ethfinex supports around 30 cryptocurrencies, mostly major coins like Bitcoin, Ethereum, Litecoin, and XRP, along with popular Ethereum-based tokens. It does not list meme coins or obscure altcoins, focusing instead on liquid, well-established assets.
What’s the withdrawal fee for Ethereum on Ethfinex?
The withdrawal fee for Ethereum on Ethfinex is 0.01 ETH, which is higher than competitors like Kraken (0.008 ETH) and Coinbase (0.004 ETH). This makes frequent ETH withdrawals more expensive, so it’s best suited for users who don’t move funds often.
Comments
Sammy Tam
Ethfinex is one of those hidden gems that only serious traders talk about in hushed tones. No flashy app? Good. No credit card junk? Perfect. I’ve been on Binance for years but switched half my volume to Ethfinex just for the maker fees. That 0.10% is a game-changer when you’re doing 50+ trades a week. The withdrawal fee sucks, yeah, but I only move ETH once a month so it’s worth it.
Abby Daguindal
Let’s be real - no audit reports? No proof of reserves? This isn’t ‘quiet and efficient,’ it’s a liability waiting to happen. I’ve seen too many ‘clean history’ exchanges get hacked after 5 years. Don’t be fooled by the 4.6 Trustpilot rating - that’s 32 people who don’t know what they’re risking.
Heather Turnbow
While I appreciate the precision of Ethfinex’s fee structure, I must express concern regarding the absence of formal security disclosures. The lack of third-party audits, while not uncommon among niche platforms, represents a significant informational asymmetry for users who prioritize risk mitigation. One cannot reasonably assess operational integrity without verifiable evidence of solvency or infrastructure integrity.
Jesse Messiah
Y’all are overthinking this. Ethfinex is for traders who don’t need hand-holding. I’ve used it for 3 years. Never had an issue. Withdrawal fee? Yeah it’s high, but I just batch my withdrawals. No app? I use my laptop. That’s what trading is supposed to be - focused, not distracted by memes and push notifications. If you want a crypto Starbucks, go to Coinbase.
Rebecca Kotnik
The philosophical underpinning of Ethfinex’s design is fascinating - it rejects the consumerization of crypto trading and instead re-centers the experience around market efficiency and participant responsibility. By removing convenience features like credit card deposits and mobile apps, the platform intentionally filters out speculative noise, thereby cultivating a more disciplined, liquidity-rich environment. This isn’t a flaw - it’s a deliberate rejection of the attention economy that dominates modern exchanges. The fact that users who remain are so satisfied speaks volumes about the integrity of its user base.
Terrance Alan
They’ve never been hacked? Sure. Just like Mt. Gox never had a problem until it lost 850k BTC. This is how they get you - slow and quiet. No transparency. No audits. Just a bunch of traders nodding along like they’re in some secret club. You think you’re saving money on fees? You’re just funding a ghost operation with your trust. One day you’ll wake up and your ETH is gone and the site will just say ‘maintenance’
Jonny Cena
For anyone thinking about trying Ethfinex - start small. Test the waters with a few hundred bucks. See how the wire transfer works. See how fast support replies. If you’re comfortable with the process and the interface, then scale up. It’s not for beginners, but if you’ve been trading for a while and hate paying 0.25% every time, this is one of the few places that actually respects your volume. And yeah, the fee on withdrawals sucks - but you don’t have to withdraw often.
Kayla Murphy
Guys, if you’re still using Coinbase for trading, you’re leaving money on the table. Ethfinex is the quiet powerhouse. I made 12 trades yesterday, saved $8 in fees alone. I don’t care that there’s no app - I’m not on my phone trading. I’m at my desk with 3 monitors. This is what real trading looks like. Stop complaining about the withdrawal fee and start thinking about your execution quality.
Florence Maail
0.10% maker fee? LOL. I bet they’re front-running you. No audits, no transparency, no mobile app - they’re hiding something. I’ve seen this before. They get you hooked with low fees, then they quietly drain your wallet through hidden slippage or delayed withdrawals. And don’t get me started on ‘clean history’ - that’s just because nobody’s noticed yet. 😈
Chevy Guy
They don't have an app so they must be legit. And no credit cards? Obviously not a scam. I mean if they were shady they'd have a slick app and 24/7 live chat and a TikTok influencer. Right? This is the kind of place where the real traders go. The rest are just here for the memecoins and the drama
Amy Copeland
How quaint. A platform that assumes you know what you’re doing. How dare they not explain everything to you like you’re a child. I suppose if you’re not wealthy enough to wire $10k from your bank, you’re not worthy of trading here. The elitism is almost refreshing - in a world of crypto bros, this is a breath of stale, overpriced air.
Patricia Amarante
Low fees, no drama, clean order book - that’s all I need. I’ve used 7 exchanges. This one just works.
Timothy Slazyk
The real question isn’t whether Ethfinex is safe or cheap - it’s whether the entire crypto ecosystem should be structured this way. Why do we accept exchanges that treat users like customers rather than participants? Why do we reward platforms that gamify trading with notifications, rewards, and mobile apps? Ethfinex doesn’t care if you’re entertained - it cares if you’re efficient. That’s not a niche - it’s a philosophy. Most people don’t want to be traders. They want to be investors. But those who actually trade? They don’t want distractions. They want precision. Ethfinex is the last temple of that mindset.
Madhavi Shyam
Maker-taker model is suboptimal for retail. Liquidity provision requires capital. Retail traders are net takers. Lower maker fees incentivize market making - but who is doing it? HFT bots. You’re not getting paid - you’re being exploited by algorithms.
Mark Cook
Wait… so you’re telling me this exchange doesn’t have a mobile app? And you’re recommending it? What is this, 2017? I’m not going to sit at my desk to trade ETH. I’m on the go. This is why crypto will never go mainstream - because people like this think ‘serious traders’ should be chained to a desk.
Sammy Tam
@1423 - you’re missing the point. If you need to trade on your phone, you’re not a trader. You’re a gambler. I’ve watched people lose $2k because they hit ‘buy’ on a tweet while waiting in line for coffee. Ethfinex doesn’t want you to trade impulsively. It wants you to plan. That’s not a flaw - it’s a feature.