Many many people complain about trading fees, but for the relatively low deposit and withdrawal fees (at least before the last 2 moths when all the banks shut them out) they're competitive on fees. Plus they're just so on it and professional.
-They are over a month behind on verification requests
-Their TRADING fees are 3-8 times as much as the competition. Nearly every other exchange charges between 0.2% - 0.5% with quick and easy discounts for volume. Virtex charges 1.5% per trade, with a 0.1% discount for over 400 bitcoins traded. Discounts on other exchanges such as Bitstamp start at $500 worth of trades.
-Extremely low volume compared to the major exchanges.
-I believe they only accept deposits via Billpay from certain Canadian banks now, using Vogogo. Bank account didn't last long... so very, very few deposit/withdrawal options.
-Numerous complaints posted online regarding double-verification required without notice. Client deposits funds, funds never show up, client contacts Virtex and is told that additional documentation is required... despite client being cash verified for months. I have seen three complaints similar to this recently, and I had a similar experience last month as well.
I used to be a big fan of Virtex. They had extremely cheap coins, cheap enough to make up for their fees. Recently, however, I have found that the trading fees combined with the now on-par coin price and low volume has made it a far less attractive option for me. I believe it's literally the most expensive place for me to trade coins right now... I know of no major exchanges with fees anywhere near theirs.
The only way that I can see their cheap Vogogo deposit fee making up for the trading commissions is if your plan is to purchase under 3 coins via that deposit.
$5 vogogo billpay vs $20-40 wire. Not a huge savings for anyone moving a reasonable amount.
