ISX Cryptocurrency Exchange Review : Pros & Cons

About ISX

ISX, also known as Iceland Stock Exchange, is a stock exchange based in Reykjavik, Iceland. It was founded in 1985 and is the only stock exchange in Iceland. The exchange offers a range of financial products, including stocks, bonds, and derivatives. ISX is regulated by the Central Bank of Iceland and the Financial Supervisory Authority, and its primary goal is to provide a safe and transparent market for trading financial instruments in Iceland.

ISX Cryptocurrency exchange operates a conventional trading platform and also offers online trading services. In recent years, ISX has been expanding its range of offerings to include new financial products, such as exchange-traded funds (ETFs) and green bonds, to meet the evolving needs of investors.

Information Table

How To Register At ISX Exchange?

To register on ISX, click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

How To Verify Your ISX Cryptocurrency Account ?

There is no mandatory verification at ISX, but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of Free. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the ISX, Revolut platforms.

How To Buy Crypto Or Deposit Crypto At ISX Crypto Exchange?

There are two main options for topping up your balance on Kraken. Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From ISX Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your ISX Account ?

Also remember to go to the Security tab and activate two-factor authentication using the Google Authenticator app – this is the most reliable way to prevent unauthorized access to your account.

ISX Fees

The Iraq Stock Exchange (ISX) charges various fees to its members, including listing fees, trading fees, and annual membership fees. Some of the specific fees charged by the ISX are:

Listing Fees

Companies that want to list their shares on the ISX must pay a listing fee, which covers the cost of processing the application and conducting a review of the company’s financial and other disclosures.

Trading Fees

Members of the ISX must pay a fee for each trade they execute on the exchange, which is based on the value of the securities being traded.

Annual Membership Fees

Members of the ISX must pay an annual membership fee, which is used to cover the operating costs of the exchange and to fund its regulatory activities.

Dividend Distribution Fees

Companies that pay dividends to their shareholders must pay a fee to the ISX for the distribution of the dividends.

Features Of ISX Crypto Exchange

Available At Android & IOS Store

ISX Cryptocurrency Exchange exchange application available on both world famous mobile store google play store and iOS store . You Can download App and start trading.

Easy access

You deposit and instantly buy Bitcoin without any trouble.

Secure exchange

The ISX market falls under supervision of the Icelandic FSA – Central Bank of Iceland.

Transparent fees

ISX takes 0.25% trading commission.

Simple registration

You sign up with your mobile ID and can start trading instantly.

Market Sectors

The ISX is divided into several market sectors, including banking, industrial, services, and investment. This allows investors to easily find and invest in the types of companies they are interested in.

Trading Hours

The ISX operates during regular business hours, Sunday through Thursday, with the exception of national holidays.

Market Indices

The ISX tracks several market indices, including the ISX Main Index, which provides a broad overview of market performance, and sector-specific indices, which allow investors to track the performance of specific industries.

Market Transparency

The ISX is committed to maintaining a transparent and efficient market, with regular disclosure of financial and other information by listed companies.

Regulation

The ISX is regulated by the Iraqi Securities Commission, which is responsible for ensuring that the market operates fairly and transparently.

24/7 Live Chat

If you’re awake, they are too. When you need help, your team of experts will work with you via 24/7 live chat to reach a quick and efficient resolution.

ISX Conclusion

ISX provides a safe and transparent market for trading financial instruments in Iceland. The exchange is regulated by the Central Bank of Iceland and the Financial Supervisory Authority, and offers a range of financial products, including stocks, bonds, and derivatives. ISX has been expanding its range of offerings to include new financial products, such as exchange-traded funds (ETFs) and green bonds, to meet the evolving needs of investors.

However, as a smaller exchange compared to other global stock exchanges, ISX may have limited market size and liquidity, as well as limited access for international investors. Additionally, the exchange operates in Icelandic Krona, which may pose a currency risk for international investors.

Ultimately, whether or not ISX is the right exchange for an individual will depend on their investment goals, risk tolerance, and personal financial situation. Before making any investment decisions, it’s important to carefully consider these factors and seek the advice of a financial advisor.