Founded in 2019, Currency.com is a trading platform that allows investing in both cryptocurrencies and tokenized assets, i.e. tokens with the value pegged to traditional financial instruments. The platform is mainly targeted at European and Asian clients. However, traders from the 13 US states are also allowed. The company is fully regulated and has offices in Warsaw, Gibraltar, Minsk, Kyiv, New York, and Singapore.
The exchange development team is driven by the idea of making investments available all over the world. From this idea stems their mission to maximize everyone's investment choices. Besides, the company is a member of the European Blockchain and Virtual Currencies Working Group (BVC WG) which aims to make the cryptocurrency market more reliable, secure, and stable.
Depending on the regulations in different countries, Currency.com grants access to 2,000+ digital financial instruments including 200+ OTC markets. In particular, users can store, trade, and invest in popular cryptocurrencies such as BTC, ETH, AVA, and tokenized stocks of famous companies, indices, commodities, and currencies. All operations can be performed in a web-based application or a mobile application.
The platform attracts users with impressive features including easy account opening, a demo version, tight market spreads, leveraged trading, transparent pricing, educational content, a scalable matching engine operating at 50 million TPS, 24/7 orders execution, fast transactions, a referral program, and multilingual support.
The exchange is available for individual traders and legal entities. Individuals can trade as institutional traders as well, though.
On Currency.com, users can trade with leverage up to 1:500. Also, they can use risk management tools such as negative balance protection and guaranteed stop loss. On top of that, the platform offers 75 technical indicators, customizable charts, and a wide range of drawing tools.
The Currency.com mobile application is available for download on the App Store and Google Play. The application has the full functionality of the platform and allows users to trade on the go at any time without missing a single trading opportunity. Also, the demo version helps new account holders and more experienced traders to get acquainted with the platform and its features, try trading, or test new strategies.
One of the extra earning opportunities provided by Currency.com is the referral program, which rewards traders who invite their friends to the platform. Both the inviter and the referral receive a bonus of up to $100 in cryptocurrency, provided that invitees confirm their accounts, make a deposit and finalize at least 1 transaction within 30 days after registration.
Corporate clients and professional traders can enjoy additional benefits such as one-day fast verification, personal account manager, priority from customer support, access to all services and features via mobile app, and increased transaction limits for bank transfers and cryptocurrencies. Besides, they get access to a number of exclusive products such as NFTs, private token sales, and life insurance.
The safety of customer funds and data is a top priority for the company. Therefore, it adheres to the highest security standards and complies with the law to maintain its reputation as a reliable service provider. First of all, Currency.com is licensed as a money services business in Gibraltar, registered by FINTRAC in Canada, and by the Financial Crimes Enforcement Network (FinCEN) in the US. Also, its banking services in the US are directly regulated by the Bank Secrecy Act and the US Patriot Act. In addition, it is an official member of Belarus High Technologies Park.
Besides, the exchange complies with the latest AML, KYC, and CFT requirements. In accordance with KYC, the identity and residential address of each client must be verified. Currency.com encrypts every aspect of customer data and keeps user funds in a segregated bank account, which means it cannot use them. 2FA should be enabled for cryptocurrency withdrawals. Moreover, the platform is annually audited by the Big Four accounting firms and regularly tests and enhances its security systems.
Despite cyber attack attempts, Currency.com has never been hacked thanks to its risk management system. On April 12, 2022, the platform suffered a massive Denial of Service (DDoS) cyberattack because of shutting down operations in Russia. However, the company reported that the attack was unsuccessful and all clients’ data remained safe.
Users can top up their accounts through a bank card, a wire transfer, or a cryptocurrency wallet. The minimum deposit for individual traders is $20 for cards and $50 for bank transfers. The minimum investment for companies and professionals is $100. Depositing via crypto and through bank transfer is free, while a fee of 3.5% is charged for card deposits. Fees for withdrawals is 0.15% for bank and 3% + €3 for cards. Cryptocurrency withdrawal limits and fees depend on the token.
Traders must pay spreads that start from $0.05 on each asset along with commission. The trading fee for BTC/USD, BTC/EUR, ETH/USD, ETH/EUR pairs is 0.06%, 0.075% for other cryptos, and 0% for tokenized assets. Additional charges include currency converting fees and overnight funding fees.
The Currency.com founder and owner is a billionaire of Belarusian origin Viktor Prokopenya. He is known as a technology entrepreneur, venture capitalist, and owner of a number of IT companies. In addition to being a qualified lawyer, he holds a PhD in Business Administration and a Master's degree in Internet Marketing and Computer Science.
Peter Hetherington, a former non-executive director at Scotgold (Scotland's first commercial goldmine), is the CEO of Currency.com. Serhii Mokhniev, a certified anti-money laundering, and financial crime specialist, is the Head of Compliance and AMLRO at the Gibraltar office. He is also a member of the Europol Expert Group on virtual currencies. Aliaksei Astapau, the Chief Financial Officer, Alida Cesani, a Chief People Officer, and Steve Gregory, the CEO of Currency.com US are also highly experienced professionals.