About

Launched in 2016, Mercatox is a modern P2P service for accessing e-currency and cryptocurrency exchange markets via its trading platform. Basically, such exchanges match buyers and sellers of cryptocurrencies. The service is running on blockchain technology, supported by the community, which significantly deters hacks. Besides, clients` personal information is not accessible by the service provider (it is only shared with your direct trading counter-parties).

The firm operating the site and the brand is headquartered in London, UK, but given the nature of its service, it is not licensed by the Financial Conduct authority, nor by any other regulator. However, the UK financial watchdog has not taken a definitive approach towards crypto-exchanges.

While this is currently the most common situation with cryptocurrency exchanges worldwide, investors should be aware that there are also many blockchain-themed fraud schemes out there, exploiting the recent hype around Bitcoin.

Yet another option to trade in cryptocurrencies is to do that with forex brokerages. There are certain specifics you should take into account, however most of them are regulated and provide leveraged trading.

Trading conditions

Trading instruments (cryptocurrencies)

At the moment of writing this review, there are more than 80 digital coins available for trading on the Mercatox platform, including the company`s own token, Merca. Nonetheless, the trading volume on most of them is not impressive, to say the least. Currently, the most traded pair appears to be ETH/BTC.

You can also trade fiat currencies (USD, EUR and RUB) against the digital coins using some electronic payment systems.

Minimum initial deposit

Unlike most cryptocurrency exchanges, Mercatox has set minimum initial investment requirements. A minimum deposit level is applied for blockchain transfers, as well as for those in fiat currencies via e-wallets. Deposits in Bitcoin for example must be no less than 0.0001 BTC.

Leverage

According to the information on its website, Mercatox supports trading on leverage, however no further details are disclosed. Some major crypto-exchanges like Kraken also allow margin trading, however mot such venues don't.

Conclusion

Mercatox is a UK-based cryptocurrency P2P exchange where you can trade in wide range of digital coins with reasonable trading fees. However, minimum deposit amounts are set and withdrawal fees also apply. While you can buy Bitcoin and a number of altcoins with fiat currencies, the deposit methods are limited to several e-payment systems, no credit cards and bank wire payments supported. Also, it seems that trading volumes on most pairs are quite low. To sum up the above: