Huobi Review (2022) Review
Huobi is one of the largest cryptocurrency exchanges since 2013. It’s the 3rd largest exchange based on trading volumes Its major offering is Huobi Global, its global crypto exchange offering an inviting platform to trade cryptocurrency. Huobi is a multi-asset platform with 140+ tradable Assets, that includes Forex trading, Spread Betting, Social trading, Share Dealing.
Huobi provides an all-in-one digital currency platform that starts with a fiat-to-crypto start-off for investors located worldwide. The exchange supports 57 fiat currencies to fund an account such as USD, EUR, GBP, AUD, CNY and more, also using the Spot Exchange, Margin Exchange, Futures Market, Options and USDT-Swaps with leverage up to 125x. It also offers Advanced Financial Chart comparison tools, Social Trading and Copy Trading.
It’s important to use vigorous security practices, including a unique password and multi-factor authentication, ideally using a third-party authenticator app. with crypto transactions. Huobi is a Seychelles-based cryptocurrency exchange. Seychelles is where crypto regulations are advanced and promote blockchain startups. It is licensed to legally operate in several countries. 2-factor authentication is available and as far as I have researched, it hasn`t been hacked.
Using a demo trading account means that you don’t need to worry about losing money, you can learn and gain skills before you go live with trading. It’s a good educational tool for beginners. In other words, Demo accounts are an invaluable tool for new traders. Huobi Trading does offer a demo account.
Broker fees can vary and change, there may be additional fees that are not mentioned in this review.
Huobi Global Deposit is free of charge, Trading Fees are 0.2% maker and 0.2% taker but trading at higher volumes will discount both Maker/Taker fees. The withdrawal fees and minimum depend on the currency and account type. You`ll have the option to look into the fee schedule in the website footer. But once clicked, you need to register. In other words, you can`t check out the fees before registering.
The “Sign Up” button is ready in the header at all times, right next to “Log In”. A short digital form came up, where they needed only to things. Email address and password.
What I like is the choice to get a verification code through email or mobile number. Of course, I`ll choose via email.
The email came instantly, and it did have a verification code. You have 30 minutes to use the code before it expires. After typing the code in, I am up and going.
I get a bit taken a back, because I suddenly have all these options of depositing and getting money, extra money and so on. Scrolling down I get to go through some rules and FAQ.
The registration itself is very simple and quick, but the landing page after verifying myself is a bit too flashy. Plus, I`m not sure what exactly to do next.
The interface is well laid out, I`d say, responsive on all devices and visually appealing. The charts and order windows are in the middle with the order book on the right side. Clicking on a price it will auto-fill limit orders and changing trading pairs or logging out of Huobi does not remove any drawing tools or patterns overlaid on the chart. The chart analysis remains on the chart until removed by the trader. There is also the option to change between light and dark mode. You can also add charts to a favorites list.
The order window provides a variety of orders. The order book window on the right of the screen is intuitive and can be used to auto-fill the price to avoid mistakes. It may seem cluttered for a newbies eye, but at first there is a guide showing you spots and actions.
The website seemed a bit messy at first. Colorful, flashing and many discounts and offers. Which of course isn`t a bad thing, it’s the first impression I`m talking about here. Scrolling down the main page it clears up a bit and they show-off their best parts. They offer to join their community, how to start trading and ways you can buy crypto. The footer is packed with options, divided into:
- Terms of services
- Crypto introduction
I’ve noticed a very patient chat bot sitting on the right-hand side waiting for any questions. When I clicked on the icon, customer service window opened.
In the top pane of the page you have a menu to choose from:
- Buy Crypto
- Spot Trading
and of course, sign up and log in. The “Learn” tab offers plenty of educational articles, like “Crypto wallets – What are they? What do they do?”. There you can find articles about investing, How-To guides and then the most read topics. This page is packed with information.
If you`re looking at contacting them, you can use a contact form, found in the footer. I found it very simple to navigate through the website. It’s logical, clean and full of needed information.
There is a whole army of social accounts with Huobi. You can choose from Twitter, Telegram, Instagram, YouTube, Facebook, TikTok and other less known ones too. I am interested in Facebook first. Here they have around 30 thousand followers and the posts are up to date. The last post was about 15 minutes ago and they post every day. The posts are simple, informative, playful and they communicate through comments too. Another account of my interest is YouTube. Yet again, packed with videos. How-to videos and educational videos and pros might fight some interesting videos too.
Advantages and disadvantages of Huobi
The first impression of the website wasn`t the best, but going further into it, I must say, I found it very intuitive and packed with necessary information. It has competitive fees and also some playful discounts, you can trade on your computer or on your mobile phone. It has a live chatbot waiting patiently for any questions. Their educational support is great, and they are active on all their social accounts. They are transparent with their fee schedule too. There aren’t many criticisms that can be leveled at Huobi. But there are a few little things. The regulation isn`t quite clear, I didn`t find much on their website and looking at the trading platform with the eyes of a newcomer, it doesn’t feel beginner friendly.
- Long history
- Low fees
- Good educational support
- Very large number of cryptocurrencies
- Platform difficult for newcomers
- Regulation and security not straightforward
- Does not support fiat deposits and withdrawals
- Verification process is said to be a bit lengthy