WEEX exchange has generated a lot of buzz on Reddit and Trustpilot. It’s often described as a good option for users who prefer not to go through KYC, but many users complain about losing access to their funds.
So what kind of exchange is WEEX really? Who created it, how does it work, how secure is it, and what do users say about it? You’ll find all of that in this WEEX crypto exchange review.
What is WEEX Exchange?
WEEX is a centralized cryptocurrency exchange (CEX) established in 2018. Its headquarters are located in Dubai.
At the start, it raised $100 million in investment from a blockchain-focused investment firm. However, the exchange does not disclose which firm it was.
It serves over 5 million users across over 130 countries. To remain accessible globally, the platform supports 20 languages and 12 fiat currencies.
Overall, WEEX supports 1,000+ cryptocurrencies across 3,000+ trading pairs, with daily trading volume exceeding $5 billion.
It offers spot trading, futures trading with leverage of up to 400x, OTC trading, copy trading, and P2P trading.
Among additional features of the WEEX exchange are:
- WEEX Wallet, used to store assets, make internal transfers, and access trading, staking, and other platform features more easily.
- Exchange native token, WXT (WEEX token), which unlocks free airdrops and up to 70% off trading fees. According to CoinMarketCap, its price is $0.02695.
- VIP program, a system of perks and discounts for the most active users. The program consists of 8 tiers. Users qualify for VIP tiers based on trading volume, account balance, or WXT token holdings.
If you’re VIP 1 and either hold 5,000 WXT, trade at least 1M USDT in futures (or 500K USDT in spot) over 30 days, or keep a 5-day average balance of 10,000 USDT, you’ll get 10% off trading fees and higher withdrawal limits. Users at VIP 8 receive a 70% discount on fees and even higher withdrawal limits.
A standout feature of WEEX is optional KYC verification. Non-KYC users can withdraw up to 10,000 USDT daily, while verified users enjoy 1,000,000 USDT daily limits.
WEEX interface and mobile app
At first glance, the WEEX exchange seems similar to Binance in its logo and menu. Could this be a psychological trick? Let’s see whether it’s just as fast and convenient as Binance.
The registration process took me less than a minute. Navigation is intuitive and easy to understand. There are both light and dark modes.
The browser version can sometimes lag, but transactions are processed quite fast. WEEX claims it can handle up to 20,000 transactions per second on its spot market.
Like any advanced exchange, WEEX also provides a mobile app available for both iOS and Android. The app has a 4.2 rating on Google Play and 4.6 on the App Store.
Fees and pricing
WEEX offers such fees for its services:
- Deposits are completely free.
- Withdrawal fees vary by asset and network. They range from 0.00016 BTC to 15 USDT.
- Spot trading fees start at 0.1% for both makers and takers.
- Futures trading fees for makers start at 0.02% and taker fees start at 0.08%. At the highest tier (VIP 8), spot trading maker fees drop to 0.01%, while taker fees go down to 0.04%.
If you’re VIP 1 and either hold 5,000 WXT, trade at least 1M USDT in futures (or 500K USDT in spot) over 30 days, or keep a 5-day average balance of 10,000 USDT, you’ll get 10% off trading fees and higher withdrawal limits. Users at VIP 8 receive a 70% discount on fees and even higher withdrawal limits.
As we see, WEEX fees match industry averages, but they’re not a standout either.
Security
At its core, WEEX uses standard security tools like two-factor authentication (2FA), anti-phishing protection, cold wallet storage, and multi-signature authorization.
Beyond it, WEEX uses AI-powered risk control systems that monitor trading activity in real time and flag suspicious behavior early. The platform also states that it undergoes regular third-party security audits to meet current industry standards.
WEEX operates with a 1:1 Proof of Reserves model, meaning user balances are fully backed by on-chain assets. In addition, the exchange maintains a 1,000 BTC user protection fund, designed to cover unexpected losses in extreme scenarios such as a security breach.
Regulation and regional availability
On the compliance side, WEEX holds the following licenses:
- MSB (Money Services Business) in the United States and Canada
- BSP (Bitcoin Service Provider) in El Salvador
The exchange is also pursuing additional licenses in regions such as the UAE, the Philippines, Malta, and Malaysia.
However, regional restrictions apply. WEEX is not available in North Korea, Iran, Syria, Cuba, Sudan, Crimea, Donetsk, or Luhansk.
Account setup and verification
The WEEX onboarding process is simple and fast:
- Sign up using an email address, phone number, Google account, Apple ID, or Telegram.
- Enter your contact information, and receive a verification code.
- Create a password to complete registration.
KYC is not required to start trading immediately. However, users who want higher withdrawal limits or access to P2P fiat purchases must complete KYC verification. You need to upload an ID and pass a short live check.
For depositing crypto, copy a deposit address or scan a QR code and transfer funds from an external wallet. Deposits typically arrive within minutes. Verified users can also buy crypto using fiat through P2P.
Customer support
When something goes wrong on an exchange, what really matters is how quickly you can get help.
WEEX offers live chat support in the lower-right corner of the website. AI assistant answers common questions related to accounts, deposits, withdrawals, and platform usage.
If needed, conversations can be passed to a human support agent. For non-urgent issues, users can contact support via email.
Support quality depends on the account level. VIP users receive priority support with faster response and access to dedicated account managers available 24/7. In turn, users without VIP status describe customer support as slow or unhelpful.
Reviews on WEEX customer support. Source: Trustpilot
WEEX’s reputation
There is a separate subreddit where users claim WEEX blocks their funds, accuses them of ‘suspicious activity’ they didn’t commit, repeatedly asks for verification, and then allegedly never returns the money. Because of this, many reviewers call WEEX a scam.
Some users also mention third-party “task” schemes that lead to deposit losses when withdrawals are attempted.
In turn, WEEX warns users about phishing and clone websites that impersonate the exchange: WEEXart.com, WEEXbr.com, WEEXstc.com, and WEEXth.com.
The same complaints appear on Trustpilot. The overall Trustpilot rating is 2.3. About 43% of reviewers give the exchange 1 star, while around 47% give it 3 stars.
However, other major exchanges also receive a large number of 1-star reviews. For example, Binance reportedly has 81% 1-star ratings on Trustpilot. It all means that Trustpilot doesn’t reflect all users, only those who were emotional enough to leave a review.
On the positive side, WEEX has not suffered a publicly confirmed major security breach.
Pros and cons
Based on its features and user feedback, WEEX has clear strengths but also notable weaknesses:
Strengths:
- 1,000 BTC protection fund with Proof of Reserves
- Optional KYC allows trading without identity verification
- High daily withdrawal limit for non-KYC users (10,000 USDT)
- Low fees with up to 70% VIP discounts
Weaknesses:
- Limited fiat on-ramp options
- Not available in several regions
- Customer support can be slow for non-VIP users
- Numerous negative reviews
Alternatives to WEEX
For users looking for more established or regulated options, Binance and Kraken may be better choices. Here is a comparison table of the core characteristics of WEEX, Binance, and Kraken:
Is WEEX worth using in 2026?
WEEX exchange offers a wide range of features, low fees, and optional KYC, which makes it appealing to privacy-focused traders and users who want quick access without identity verification.
However, its reputation remains the biggest concern. The identity of the CEO and the company that invested in the platform remain undisclosed. A large share of Trustpilot and Reddit reviews report account restrictions and withdrawal issues. This is not a definitive conclusion, but it is a clear red flag.
On the positive side, WEEX has not experienced any publicly confirmed major security breaches, supports Proof of Reserves, and maintains a user protection fund.
Eventually, in comparison with more established and regulated exchanges like Binance or Kraken, WEEX carries higher reputational and regulatory risk.
Maryna Hornieieva
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource, and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice. HODL FM strongly recommends contacting a qualified industry professional.
