IndoEx is a trading platform for experienced digital asset traders specializing in altcoins. The platform offers complex exchange features that allow users to buy and sell over 150 digital assets.
IndoEx specializes in 9 specific areas of crypto trading that it highlights. These include
- low commissions
- More than ten ways to fund an account
- Transactions in multiple currencies
- secure wallets, 24/7 support
- multiple activities, algorithmic trading
- operational trading
- and low transaction costs.
IndoEx allows traders to trade over 200 cryptocurrencies and 249 market pairs.
In terms of trading options, IndoEx currently supports trading on spot markets.
According to the official IndoEx website, it is officially supported in 150 countries.
It has been in operation since January 2019 and was founded by Spencer Collins and Spencer Collins, which may turn out to be a fake because the Cointelegraph has already taken up the matter and reported as follows:
“Cointelegraph’s attempt to track down the two executives on LinkedIn and Twitter yielded no results. Meanwhile, a run through IndoEx’s reviews by its former customers showed them accusing both Spencer and North of wearing false identities.
Spencer Collins (CEO/CFO), Grace North (CTO) is a fake person working as support in Telegram chat,” Leo99 wrote in his complaint on Bitcoin forum BitcoinTalk.org. “Constantly postponing the solution of all problems to the future or ignoring messages.”
A closer look at IndoEx LTD’s official records with the UK Registrar of Companies showed that the company received a First Gazette Notice in November 2020 for failing to provide shareholder details. The company responded to the authority with only one name, Collins Spencer, holding 1,200 shares, indicating that IndoEx is a single-owner company.
The U.K. Registrar of Companies later canceled the notice against IndoEx LTD. Nevertheless, the exchange continues to operate without being registered with the U.K.’s Financial Conduct Authority (FCA).
It is unclear whether IndoEx allows US investors or not. There is no explicit prohibition for US investors in the terms and conditions.
Due to missing licenses and questionable and even possibly false ownership, we classify IndoEx in our “Red Compliance” list.