VHCEx is one of the leading and also the safest crypto exchanges in the Philippines as it complies with the international standards stipulated by AMLA. It lets you earn passive revenue through lead trading and referrals.
VHCEx, the first of its kind and licensed by the Central Bank of the Philippines, is a leading cryptocurrency exchange. It is considered the safest crypto platform as it is compliant with the international standards of AMLA (Anti-Money Laundering Act) and is also one of the 10 cryptocurrency platforms licensed with Bangko Sentral Ng Pilipinas.
Types of Trading & Order Types
Besides the spot trading of cryptocurrencies, VHCEx offers a range of services like mirror trades, lead trades, and CFDs (Contract for Difference) along with a mobile trading app for the convenience of users.
VHCEx offers a range of trading options for its users.
- Spot Trading: VHCEx offers an extensive range of cryptocurrencies on its platform, allowing users to trade cryptocurrencies globally. The exchange also acts as the primary platform for filling orders based on supply and demand.
- Contracts – CFD: VHCEx offers options for users to trade contracts for differences based on market movements. CFDs offer high leverage, enabling users to leverage their capital up to 150 times based on which profit or loss is determined. It is a risky instrument, and the user may incur more losses than the funds available in the account.
- Mirror Trades: Users can copy the trading patterns of other traders using Mirro trades. The user becomes a mirror trader following the activities of the lead trader. The mirror trader automatically follows every trade the lead trader makes. The allocation of funds is in the lead trader’s hands for trading purposes until the mirror trader chooses to unfollow the lead trader.
- Lead Trading: VHCEx offers a Lead Trader Programme to provide the lead trader with rewards, incentives, and bonuses for sharing their trading skills and knowledge with the Mirror trader in the community. Lead traders get a bonus of $800 per month. Besides, they can earn $90,000 per annum if they have $1 million assets under their management.
VHCEx does not provide any insurance cover for digital assets placed on the platform. Hence, the risks due to software and hardware hacking resulting in a loss of monetary value are at the user’s sole discretion. Traders should acquaint themselves with the risks associated with CFDs before trading, as these investment avenues can incur more losses than funds available in the account.
Is Verification Required – Verification Levels & Fees
VHCEx has two verification levels, KYC Tier 0 and KYC Tier 1. Users should complete their KYC Tier 1 verification to be eligible to withdraw their funds. Besides, this precautionary measure allows rightful users to regain access to their accounts should they lose their credentials. It also enables the regulators to watch suspicious activities that could take place on the platform.
|KYC Tier||Deposit||Withdrawal||Daily Withdrawal Limit|
|Tier 0||Enabled||Not Available||No withdrawals|
|Tier 1||Enabled||Enabled||2 BTC per day|
VHCEx charges fees on market orders executed on the platform. In addition, it charges maker and taker fees for all such orders. However, there are no charges for orders left idle on the platform. Besides, VHCEx charges for additional services like token recovery. CFD trading incurs a trading transaction fee on closing a trade and an overnight funding fee for trades going beyond the limit of EOD (00.00 GMT +8).
VHCEx Fee Structure
Mirror trades incur overnight funding charges, trading commission charges, and transaction fees. Here is the VHCEx fee structure.
- Maker Fees – 0.05% on the limit order when the user adds liquidity to the order book by placing the limit order below the ticker price for ‘Buy’ and above the ticker price for ‘Sell.’
- Taker Fees – 0.05% on the market order when the user removes liquidity from the order book by placing an order executed against the order of the order book
- CFD Market Transaction fee – 0.075% on the entire transaction amount upon closing the position.
- CFD Overnight Funding Fee – 0.035% for holding a trading position overnight on leveraged trades.
- Withdrawal Fees – Depends on the crypto coin/token.
- Additional Service Charges – Minimum $100 for token recovery due to lack of information or mistake.
VHCEx has a simple fee structure compared to other similar crypto exchange platforms. It does not have any inactivity fee. However, VHCEx charges for additional services like token recovery.
VHCEx Security Features
VHCEx is licensed and regulated under the Central Bank of the Philippines and also complies with the international standards of AMLA. Furthermore, it ensures that the funds on the platform are legitimate and do not support unlawful activities like terrorist funding. VHCEx does not allow any withdrawal in accounts that have not completed KYC Tier 1 verification.
Is Your Money Safe With VHCEx?
As VHCEx conforms to the governing laws of the Central Bank of the Philippines. Your money is safe with VHCEx. However, one should understand that CFDs are risky instruments to trade, and the chances of losses are higher. VHCEx does not offer any insurance for any losses suffered by users.
VHCEx Pros and Cons
Here are the pros of using the VHCEx trading platform.
- Easy to use
- Offers mirror trading to enhance income generation
- Earn passive income through lead trading and referrals
- Affordable fee structure
Here are the cons of using the VHCEx trading platform.
- CFD trading can be risky
- Overnight holding fee
- No insurance for losses suffered by traders
Cryptocurrency trading can be exciting with VHCEx, as the platform allows copy trading to enable traders to enhance profit margins. Besides, it offers the highest level of security and regulatory compliance.