Bitfinex exchange is a leading cryptocurrency exchange offering advanced trading options at competitive rates. This guide will unpack all you need to know about Bitfinex from trading platforms to order books, lawsuits and more. Read on to find out about one of the biggest names in crypto trading.

Bitfinex Headlines

The founders of Bitfinex, Giancarlo Devansini and Raphael Nicolle, established the exchange in 2012 in the British Virgin Islands. Today, it’s based in Hong Kong and is run by CEO, JL Van Der Velde. In 2020, the company’s net worth was valued at over $800 million and 2021 experienced further growth; in just the first three months, the broker saw a 300% surge in new customers.

The crypto exchange has grown into one of the world’s largest, operating globally across the UK (GBP), Europe (EUR), Japan (JPY), and beyond. Its services are best suited to experienced or professional traders.

In addition to standard crypto purchasing, the platform offers margin trading, staking and lending.

Trading Platform

Bitfinex offers a seamless trading experience. Order books with top-tier liquidity enable clients to exchange popular cryptocurrencies including BitcoinEthereumLitecoin and Neo.

Advanced market analysis is available using a long list of technical indicators and pattern recognition tools. APIs and enhanced reporting are also on offer. The quality and range of features supported is part of what makes Bitfinex’s trading terminal popular amongst traders.

Clients can also access:

Margin trading – leverage up to 10x is available through the peer to peer margin trading platform
Margin funding – the funding market offers a way to earn interest on fiat and digital assets by loaning out capital

The dark interface can be customised to suit individual preferences and the terminal is compatible with metaTrader 4 and metaTrader 5.


Bitfinex offers over 100 market pairs including leading cryptocurrencies: Ethereum, Dogecoin, Bitcoin, Ripple, Ecomi, and EOS. Users can choose between crypto-only pairs plus tokens paired with traditional currencies like USD, GBP, EUR, and JPY. Altcoins, such as Tron, Stellar and Neo, are also offered.

Note, derivatives trading is available via the Derivative Wallet which is credited with USDt0.


Bifinex cites some of the most competitive rates. It operates a taker-maker fee model. Those that fulfil existing orders are considered takers. Traders that place new limit orders are considered makers.

Taker fees vary between 0.2% and 0.055% whilst Maker fees range from 0.1% to 0.0%. There is no trading fee for large orders conducted through the OTC desk. Bank wires have a 0.1% deposit and withdrawal fee. This can increase to 1% for international withdrawals.

The minimum deposit and withdrawal limit is $10,000. A comprehensive breakdown of the fee structure can be found on the Fees page on the Bitfinex website. Prices are quoted in a range of currencies for ease.

How To Open A Bitfinex Account

Opening an account with Bitfinex is relatively straightforward. Clients can register for an account on the broker’s website. All clients have to submit contact details to comply with the verification process. It is worth noting the verification process can take up to 8 weeks.

A personal account can be upgraded to a business account by submitting the necessary documentation.

Mobile Trading

Bitfinex offers a complete trading experience on the go via their mobile app. View positions, open orders and access your trading history in just a few clicks. The app can be set up in three simple steps:

  1. Download from the App Store or Google Play Store
  2. Create a new API
  3. Scan the QR code

Deposits & Withdrawals

Bitfinex accepts fiat deposits in GBP, EUR, JPY and USD. Fiat deposits can be actioned by wire transfer only. Bitfinex also supports Tether. Deposits can be made free of charge in Bitcoin Litecoin, Ethereum, Zcash, Monero, Dash, Ripple, Iota and EOS.

Note, for expedited cryptocurrency and deposits made via Tether, additional verification may be required.

Demo Account

Bitfinex offers a paper trading account. Paper trading is a simulation of a live market that gives traders a risk-free opportunity to develop their strategies. To sign up for a paper trading account, log in to your Bitfinex account and head to the sub-account section.

A demo of Bitfinex’s popular trading interface is also available to view on the broker’s website. Click ‘View demo’ to access it.

Bitfinex Bonus

Bitfinex does not offer any sign-up bonuses or promotional codes, as is expected with established exchanges. The exchange does however offer competitive rates once you’re an account holder.

Regulation Review

Bitfinex is registered in the British Virgin Islands but is not regulated by any official licensing body. With this in mind, it is advised that you tread with caution. Unregulated exchanges cannot guarantee the same security assurances. Bitfinex has suffered a number of security breaches and there is no guarantee it won’t happen again further down the line.

Additional Features

The broker provides a range of additional features in addition to its core offering, including:

Leaderboard – lists the most profitable traders on Bitfinex. Be sure to check it out for tips and possible future opportunities
Pulse – a social platform and news feed for traders and media partners to share live trading insights, analysis and interest rates. Users can also access games
3commas – find out all you need to know about connecting API keys

Building your knowledge base is essential. We recommend that traders ensure they are clued up on the latest funding and lending rates, relevant stocks and shares prices, interest rates and forecasts to put themselves in the best position for success. Advances in technology have made markets increasingly competitive in recent years.


Bitfinex has a lot to offer prospective traders:

  1. Web socket
  2. API Python key
  3. Celsius platform
  4. Staking program
  5. Transparent fee structure
  6. Advanced platform features
  7. Range of cryptocurrencies
  8. Low trading and withdrawal fees
  9. BitGo instant for zero confirmations on instant Bitcoin transactions


There are some drawbacks to trading with Bitfinex too:

  1. Not available to US clients
  2. Best suited for advanced traders
  3. Previous security breaches and hacking issues
  4. The verification process is lengthy taking 6-8 weeks

Customer Support

If you need help regarding a specific query, contact details can be found on the broker’s website under the Contact Us tab. You’ll need to submit your query as a ticket via an online form. Responses are generally prompt. To ensure the website and support offered are accessible to as many clients as possible, the website can be operated in 5 languages including English, Spanish and Mandarin.

You can access additional support via the company’s social media and interactive messaging accounts. Bitfinex is active on Twitter, Telegram, YouTube and linkedIn.


So, is it safe? Bitfinex’s recent history has been plagued by a series of security breaches. In 2015, the exchange was hacked and 1,500 Bitcoins were stolen. In 2016, the firm suffered a second breach, this time 120,000 Bitcoins were taken. The incident was the second largest of its kind and prompted an extensive investigation.

The broker has since taken steps to improve its security. It implements the Google Authenticator feature for login and withdrawals. The 2-factor authentication (2FA) process bolsters account security but can be reset if needed, for example, if it’s not working, if your account has been frozen, or if a client gets a new phone.

If clients are looking to withdraw larger sums, they must undergo a more thorough verification process. These are standardised measures for anti-money laundering (AML), know your customer (KYC), and counter-terrorism financing (CTF) checks. Different verification levels exist and processing times vary according to the level of verification required, public interest and the sum withdrawn.


If you’re an experienced investor looking to trade high volumes, Bitfinex is a good option. Its platform hosts a range of advanced features, an extensive suite of crypto coins, plus a transparent fee structure. However, it’s worth noting that the company’s history has been plagued with security breaches, not least the Tether lawsuit which stipulates claims of money laundering.