Huobi was launched in Hong Kong in 2014. The site attempts to portray a high volume of BTC trading and a diverse trading platform that takes various currencies and offers leverage trading and limit orders. The site has passed an audit to determine their solvency, so they have taken measures to highlight the trustworthiness of their exchange. However, the site does not quite live up to expectations. Funding can be quite a hassle, as users are directed to the 3rd party service EgoPay. The site shows that there are 0% fees, however, the 0% fees last for a maximum of 90 days. After this period trading fees are between 0.05%- 0.2% which are actually very reasonable. The withdrawal fees for Egopay are also extremely high at 1.5%. There are also question marks around the sites trade volumes, which appear far higher than should be possible. Overall the site offers some good features for pure trading but possesses quite a few downsides, especially if you are a U.S resident.
– Passed proof of solvency audit.
– offer 24/7 customer support in English.
– solid security.
– digital currency withdrawals are free.
– Offers limit orders
– High withdrawal fees.
– Volumes are possibly faked
– No FIAT deposits from U.S residents