WEEX exchange profile

Profile of WEEX: exchange information, markets and recorded details on GradeMarket.

WEEX is a centralized cryptocurrency exchange (CEX) that began operations in 2018. While its headquarters are located in Taipei, Taiwan, the company has also established a new international office in Dubai. Its main strengths are its focus on high-leverage futures trading (up to 400x) and a transparent Proof of Reserves program, which allows users to verify the status of exchange-held assets online.

Key Statistics

• Daily trading volume: Approximately $5 billion (according to the exchange's official figures)
• Supported cryptocurrencies: More than 580–600
• Trading pairs: Over 1,700
• Global ranking: Generally ranked among the top 30–50 exchanges worldwide by trading volume

Exchange Type

WEEX is a Centralized Exchange (CEX) offering:

• Spot trading
• Futures trading (Perpetual and Inverse contracts)
• Copy Trading

Margin trading is available through its high-leverage futures products.

When a Technical Issue—Not a Hack—Tested the Exchange's Reputation

In March 2025, WEEX experienced an order-matching delay on the ETH/USDT trading pair, which caused losses for some users. Notably, the exchange did not deny the incident. According to reports, WEEX compensated affected users for part of their losses.

The incident was not a security breach, and no user funds were stolen from exchange wallets. However, it provided insight into how the platform responds to operational failures.

Around the same period, the Georgia Department of Banking and Finance (United States) issued a regulatory notice against WEEX for operating without the required state-level license, highlighting the distinction between federal MSB registration and obtaining full state regulatory approval.

Fees

• Spot Trading: Approximately 0.1%
• Futures Trading: Typically 0.02%–0.08% (Maker/Taker, depending on trading conditions)
• Holding the exchange's native WXT token or using a referral code can reduce trading fees by 20–30%.
• Crypto deposits: Usually free
• Crypto withdrawals: Fees vary depending on the cryptocurrency and blockchain network.

Security and Trust

Since its launch in 2018, there have been no publicly reported major hacks resulting in the theft of customer assets.

WEEX employs several security measures, including:

• Cold wallet storage
• Two-Factor Authentication (2FA)
• Multi-signature wallet architecture
• Public Proof of Reserves

KYC verification is optional. Users may withdraw up to a certain limit without identity verification, while purchasing cryptocurrency via bank cards and increasing withdrawal limits requires completing KYC.

Licenses and Regulation

According to information published by WEEX, the exchange is registered as a Money Services Business (MSB) with both:

• FinCEN in the United States
• FINTRAC in Canada

The company also reports having a corporate registration in Saint Vincent and the Grenadines.

It is important to note that MSB registration is primarily an anti-money laundering (AML) compliance requirement and should not be interpreted as a full financial services or exchange operating license comparable to authorization from regulators such as the UK's FCA or Singapore's MAS. Even sources closely associated with the exchange acknowledge this distinction.

In 2025, the Georgia Department of Banking and Finance issued a notice against WEEX for lacking the required Money Transmitter License within the state, demonstrating that federal MSB registration does not automatically authorize state-level operations.

Some sources also claim that WEEX is seeking regulatory approvals in jurisdictions including the UAE (VARA), the Philippines, Malta, and Malaysia. However, these claims have not yet been officially confirmed and should therefore be treated with caution.

The exchange has officially stated that it does not currently conduct virtual asset activities in the UAE and will not do so until obtaining the necessary VARA license.

Deposits and Withdrawals

Deposits and withdrawals are primarily conducted using cryptocurrencies through popular blockchain networks such as:

• ERC20
• TRC20

Users may also purchase cryptocurrency via bank cards or P2P trading, although these services generally require KYC verification.

Withdrawal limits are restricted for unverified users and increase after completing identity verification.

Popular Trading Pairs

• BTC/USDT
• ETH/USDT
• XRP/USDT
• SOL/USDT

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Pros and Cons

Pros

• High futures leverage (up to 400x) suitable for experienced traders
• Public Proof of Reserves and a 1,000 BTC Protection Fund
• Full Persian-language support and the reported ability to complete KYC using an Iranian national ID
• Competitive trading fees, especially when using referral discounts or holding WXT

Cons

• No licenses from top-tier financial regulators such as the FCA or SEC
• History of receiving a regulatory notice from a U.S. state authority for operating without the required local license
• Contradiction between its official AML policy restricting Iran and its practical support for Iranian users
• Relatively low user ratings on some customer review platforms

Final Rating

6/10

WEEX scores positively for its strong trading volume, transparent Proof of Reserves program, and responsible response to the 2025 technical incident. However, the absence of top-tier regulatory licensing, the U.S. state regulatory notice, and the inconsistency regarding services for Iranian users significantly reduce its overall rating.

Conclusion

WEEX is a compelling option for professional futures traders seeking high leverage and greater transparency through Proof of Reserves. However, users who prioritize strong regulatory oversight, legal certainty, and long-term compliance should approach the platform with greater caution.